1 Govt to get record *63,056-cr dividend from listed PSUs: Report 

The government is expected to collect an all-time high equity dividend of *63,056 crores from 67 listed PSUs for FY23, Business Standard reported citing the final dividend proposed by the PSUs. The dividend could rise further because some PSUs, including GAIL (India) and Hindustan Copper, are yet to declare their final dividend. The payout could be 25% more than FY22.

https://www.moneycontrol.com/news/business/govt-likely-to-collect-all-time-high-dividend-of-rs-63056-crore-from-67-listed-psus-for-fy23-10805481.html

2 Hero MotoCorp being probed over alleged diversion of funds: Report 

Corporate Affairs Ministry has ordered an investigation into Hero MotoCorp's relationship with a third-party vendor in a case related to the alleged diversion of funds and formation of shell companies, Reuters reported. The investigation will try to ascertain if the company controlled the third-party vendor. The ministry will also reportedly investigate affairs of Salt Experiences and Management.

https://indianexpress.com/article/business/companies/centre-probe-hero-motocorp-fund-diversion-8664666/

3 COO Ashw Nissanani Gupta quits amid reported 'rivalry' with CEO Uchida 

Nissan's Chief Operating Officer (COO) Ashwani Gupta is leaving the company. The company confirmed this a day after AFP reported that there was a "rivalry" between 52-year-old Gupta and Nissan CEO Makoto Uchida for the top job. An engineering graduate from Jawaharlal Nehru Engineering College, Gupta started his career with Renault in 2006 and was named Nissan COO in 2019.

https://economictimes.indiatimes.com/news/international/business/top-executive-ashwani-gupta-quits-nissan-in-new-leadership-turmoil/articleshow/101032608.cms

4 IndiGo, Vistara keep canceling flights last minute: Shark Tank's Anupam Mittal

Shark Tank India judge and Shaadi.com Founder Anupam Mittal on Thursday tweeted, "Clear pattern emerging on Indian airlines especially Vistara and IndiGo." He alleged, "When they don't have enough load on a flight, they cancel last minute with impunity & without giving any reasons and combine with an earlier or later flight and call it 'rescheduling'."

https://www.moneycontrol.com/news/trends/indigo-vistara-cancel-flights-last-minute-when-they-dont-have-enough-flyers-cause-stress-anupam-mittal-10803111.html

5  Every company threatened by Al's presence: Prime Securities CEO 

Prime Securities CEO N Jayakumar said every company is threatened in some way or the other by presence of Al. "Al is a disruptor," Jayakumar said, adding that it'll cause job cuts. "In IT space, Al is no longer a buzzword, Al markup language (AIML) is no longer a theme... It's something that every company needs to look at," he added.

https://youtu.be/YP75CZQX4KE

6 India earned 60,000 cr via medical tourism in 10 years: Officials 

India earned $7,400 million (over 60,000 crores) through medical tourism in the last decade, officials said, adding that the figure is expected to rise to $43,500 million (over *350,000 crores) in the next decade. The Indian health sector has seen many private investments in the past five years, the officials stated. They were speaking at the BIMSTEC Health Forum on Wednesday.

https://www.outlookindia.com/business/india-earned-7-400-million-through-medical-tourism-in-last-decade-officials-news-294929

7 Prices of edible oils to go down as government reduces import duty 

The government has reduced Basic Import Duty on Refined Soyabean Oil and Refined Sunflower Oil by 5%, saying that the consumers will now have to "pay less for edible oils". "Basic Import Duty on Refined Soyabean Oil and Refined Sunflower Oil reduced from 17.5% to 12.5% w.e.f. June 15, 2023," it tweeted.

 https://twitter.com/PIB_India/status/1669267328071262209?s=20

8  B'desh surpasses Pak in all economic sectors in 2023-24: Report 

Bangladesh has surpassed Pakistan in all sectors of the economy in 2023-24, Pakistan's Daily Jang reported. The report noted that Bangladesh presented a budget of $71 billion and a 7.5% growth rate while Pakistan's growth rate is 3.5%. Bangladesh has nearly $31 billion in foreign exchange reserves for FY24 while Pakistan has less than $4 billion, the report added.

https://www.aninews.in/news/world/asia/bangladesh-left-pakistan-behind-in-all-sectors-of-economy-in-2023-24-report20230607172819/

9  Mahindra, Hinduja join bid to buy MG Motor India stake: Report 

Automobile maker Mahindra and Mahindra and Hinduja Group, Ashok Leyland's promoter, have joined the bid to buy a stake in MG Motor India, a wholly-owned subsidiary of China-headquartered SAIC Motor, CNBC-TV18 reported. MG Motor India is reportedly holding talks with Mahindra Group over the stake sale. Interested firms are also seeking Centre's view over MG Motor India's Chinese ownership.

https://www.business-standard.com/companies/news/mahindra-hinduja-join-race-to-buy-stake-in-ev-business-of-mg-motor-india-123061400902_1.html

10. Realme Vice President Madhav Sheth quits the company after 5 years 

Madhav Sheth, Realme Vice President and President of realme's International Business Group, has quit the phone maker after five years. "It's time to move on and start a new journey," Sheth, who also served as realme India's CEO, said in a note. With his exit, realme Founder Sky Li will take additional charge of its India business.

https://www.outlookindia.com/business/realme-co-founder-madhav-sheth-quits-news-294863

11. MRF becomes the first Indian stock to cross the *1 lakh mark 

Shares of MRF crossed the 1 lakh mark in early trading on Tuesday, becoming the first Indian company to do so. The stock hit an all-time high of 1,00,439.95 on the stock exchanges on Tuesday, taking the company's market capitalisation to over *42,378 crore. The company's stock had earlier crossed the 1-lakh mark in futures trading last month.

https://timesofindia.indiatimes.com/business/india-business/in-a-1st-for-an-indian-stock-mrf-crosses-rs-1-lakh-mark/articleshow/100976197.cms?from=mdr

12. RBI Governor Shaktikanta Das receives 'Governor of the Year' award in London 

RBI Governor Shaktikanta Das has been honoured with 'Governor of the Year' award by Central Banking in London. "The RBI governor has cemented critical reforms, overseen world-leading payments innovation and steered India through difficult times with a steady hand and well- crafted turn of phrase," the organisers said. Central Banking is an international economic research journal.

https://currentaffairs.adda247.com/rbi-chief-shaktikanta-das-named-governor-of-the-year-at-londons-central-banking-awards/#:~:text=Shaktikanta%20Das%2C%20the%20Governor%20of,the%20Year%20Award%20for%202023.

13. PM Modi's visit an opportunity to elevate Indo-US tech ties: US 

US Commerce Secretary Gina Raimondo said PM Narendra Modi's upcoming visit to America will be an opportunity to elevate Indo-US commercial and strategic technology partnerships, including in defence, semiconductor supply chains, clean energy and space. "We are aiming to...connect our dynamic innovation ecosystems [and] address regulatory hurdles," she added. PM Modi will visit America next week.

https://www.zeebiz.com/india/news-pm-modi-us-state-visit-trip-tour-schedule-latest-news-update-239859

14 Indian firms won't cut fuel prices in next 2-3 months: JPMorgan 

JPMorgan said it's unlikely for Indian oil companies to reduce retail fuel prices in the next two to three months despite a fall in crude and diesel prices from last year's high. The oil firms would recoup large losses incurred in the last fiscal and also pare some debt before cutting prices, JPMorgan stated.

https://www.bqprime.com/business/indian-oil-firms-wont-cut-retail-fuel-prices-in-next-2-3-months-says-jpmorgan#:~:text=a%20gro...-,India's%20state%2Drun%20oil%20marketing%20companies%20are%20unlikely%20to%20cut,last%20fiscal%2C%20according%20to%20JPMorgan.