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    Indian embassy pitches deeper economic engagement with Chinese businesses
    Bangladesh orders reduced govt spending amid economic vulnerability
    TCS Q1 net profit rises 4.61 pc, bags new deals worth USD 9.5 bn
    Quality Council of India and National Small Industries Corporation Sign MoU to Strengthen Quality, Competitiveness and Market Access for MSMEs
    Insurance Division, DFS Secures 2nd Rank in Group A Category Grievance Redressal Assessment & Index (GRAI) for May 2026
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July 9, 2026
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Economic engagement and investment facilitation shape outreach to Chinese businesses as trade ties and pharmaceutical access are discussed.
Indian diplomatic outreach to Chinese businesses has focused on facilitating deeper economic and commercial engagement with India, including support for Chinese investment opportunities as bilateral relations move toward normalisation. The embassy has indicated willingness to help investors navigate entry into the Indian market, address concerns, and provide greater assistance for investment facilitation, alongside recent easing of restrictions on Chinese investments. Trade discussions have also emphasized expanding Indian pharmaceutical exports to China and improving market access for Indian manufacturers of generic medicines.
July 9, 2026
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Government spending restraint curbs public expenditure and travel as inflation and growth pressures test macroeconomic stability.
Bangladesh has introduced austerity measures to restrain government expenditure amid persistent inflation, slower growth and pressure on the banking system. The restrictions cover cuts in public spending, procurement of motor vehicles, air and water craft, and foreign travel by officials. The directive applies across ministries, agencies, autonomous bodies, state-owned enterprises, statutory organisations, public sector corporations, state-owned companies and financial institutions to ensure prudent use of limited public resources and support macroeconomic stability.
July 9, 2026
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AI-led transformation and strong deal wins drive TCS quarterly growth despite margin pressure and mixed geographic performance.
TCS reported higher quarterly net profit, revenue and net income for the June 2026 quarter, while operating margin declined due to wage hikes and fresh investments. The company said growth was supported by demand for AI-led transformation, modernisation, cybersecurity, sovereign cloud and platform simplification, and disclosed new deals with a total contract value of USD 9.5 billion, including a major AI-led transformation engagement.
July 9, 2026
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MSME quality and market access get a boost through a joint certification, accreditation and digital commerce framework.
Quality Council of India and National Small Industries Corporation Limited entered into a Memorandum of Understanding to strengthen quality, competitiveness and market access for Micro, Small and Medium Enterprises through a unified support framework. The collaboration integrates ZED Certification, MSME Global Mart, the TEAM Initiative and the Single Point Registration Scheme to expand digital commerce access, export promotion, testing and accreditation support, and capacity-building for MSMEs and training institutions. A Joint Coordination Committee will oversee implementation during the five-year tenure of the MoU.
July 9, 2026
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Grievance redressal performance improves as financial services divisions rank high and expand complaint review and transparency measures.
The Department of Financial Services has remained among the top 10 ministries and departments in grievance redressal rankings, with the Insurance Division securing 2nd rank in Group A for May 2026 and the Banking Division ranking 6th. The Department is also conducting direct review of selected grievances and workshops on an effective grievance redressal framework to improve complaint resolution, transparency, and customer trust.
July 9, 2026
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Landlord consent requirement prevails over bank amalgamation in eviction disputes under rent control law.
Amalgamation of a tenant bank with another bank does not displace the requirement of written consent of the landlord under the Delhi Rent Control Act where the tenant has been assigned or has parted with possession of the premises. A banking scheme of amalgamation cannot override the rent control protection against subletting, assignment, or parting with possession without consent, and an involuntary merger does not confer immunity from the landlord-consent requirement.
July 9, 2026
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Valid service of summons on a foreign national requires due process, not deemed service at a relative's address.
Service of summons at an accused person's residence in India cannot be treated as valid or deemed service on his son who is a foreign national, is not an accused in the predicate offence or the money-laundering case, and has not resided at that address since 2017. The Enforcement Directorate was required to follow the procedure prescribed by law for serving a person living abroad, and service at the applicant's address was non est in law.
July 9, 2026
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Quarterly profit growth at TCS reflects rising revenues, stronger net income and continued employee expansion despite headwinds.
TCS reported a rise in quarterly net profit for the June 2026 quarter, with net profit, net income and revenues all showing year-on-year growth. The company also recorded a sequential increase in revenue from the previous quarter and added over 9,200 employees during the three-month period ending 30 June 2026.
July 9, 2026
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Special Economic Zone notification formalises semiconductor manufacturing and customs framework for export-oriented operations in Chhattisgarh.
The Government of India has notified a Special Economic Zone for the manufacture of semiconductors and electronic components at Mandir Hasaud, Nava Raipur, Atal Nagar, Chhattisgarh, covering 10.13 hectares comprising specified land parcels. The notification also constitutes the Approval Committee for the SEZ and appoints 6 July 2026 as the date from which the SEZ is to be deemed an Inland Container Depot under the Customs Act, 1962, establishing the customs and logistics framework for export-oriented operations.
July 9, 2026
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Rupee appreciation supported by RBI intervention, equity rebound and dollar selling despite crude and geopolitical pressure
The rupee appreciated modestly against the US dollar, supported by a rebound in domestic equities, dollar sales by state-run lenders and suspected RBI intervention. The currency moved within a narrow range before settling higher than the previous close, even as elevated crude oil prices, a stronger global dollar and heightened West Asia tensions continued to weigh on sentiment.
July 9, 2026
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Arbitration training and institutional dispute resolution take centre stage in IICA's expanded certified program.
The second batch of the Certified Arbitration Program was inaugurated as a flagship initiative aimed at building globally benchmarked arbitration professionals and strengthening institutional arbitration in India. The programme stresses enforceable arbitral awards, fairness of process, a code of conduct and sector-specific expertise as core elements of a robust arbitration ecosystem. It also reflects wider efforts to promote alternative dispute resolution, specialised training and practical arbitration skills through expanded module-based content and workshop-focused learning.
July 9, 2026
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Forced labour-linked tariff proposals face Indian criticism over inconsistent exemptions and arbitrary sourcing conditions
Forced labour-linked tariff proposals under the US trade framework drew Indian criticism for inconsistency, because the proposed approach was said to exempt a large number of items that cannot be produced or grown in the United States while still targeting imports linked to alleged forced labour concerns. India argued that such exemptions dilute the stated policy rationale of addressing forced labour in global supply chains and may not meaningfully prevent circumvention practices. India also objected to the textile-related tariff mechanism, stating that reduced tariff treatment based on the use of US-origin cotton and related inputs operates as an arbitrary sourcing requirement for foreign manufacturers.
July 8, 2026
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Fisheries value chain strengthening drives Odisha's export potential through collaboration, processing modernisation and species diversification.
Strengthening of fisheries value chain and export capacity in Odisha was emphasised through closer collaboration among fishers, fish farmers, exporters and cooperatives, along with coordinated action by the Centre, the State, research institutions, financial institutions and sector stakeholders. The focus was on harnessing the State's untapped export potential by improving production linkages, post-harvest systems and sector-wide organisation. Attention was given to capacity building, modernisation of processing facilities, diversification of fish species and fisheries products, and expansion of deep-sea and brackish water fishing to support higher exports, greater value addition and improved fisher incomes.
July 8, 2026
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Ease of Doing Business reforms propose time-bound approvals, simpler compliance and faster refunds to improve investor-friendly regulation.
A draft Ease of Doing Business law proposes time-bound approvals, deemed approvals, self-certification, third-party verification, risk-based inspections and removal of duplicate licensing requirements to reduce procedural hurdles and create a more investor-friendly regulatory environment. The cabinet also approved related industrial investment, payment security and tax reforms, including GST simplification, faster refunds and abolition of the redundant Commercial Tax Tribunal.
July 8, 2026
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Coal levy probe deepens as Ramgopal Agrawal is detained for questioning in linked corruption cases.
Congress leader Ramgopal Agrawal was detained by the Chhattisgarh Economic Offences Wing for questioning in the alleged coal levy matter and was also to be interrogated in connection with liquor and rice custom milling-linked cases. The agency said the action was based on documents, digital evidence, a seized diary and other records, and claimed that the diary contained entries of payments made in the name of "Congress Bhavan".
July 8, 2026
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Anti-money laundering action freezes party bank accounts amid alleged funds misappropriation investigation
Enforcement action under the Prevention of Money Laundering Act resulted in the freezing of three bank accounts of a political party containing substantial deposits, after searches in an alleged funds misappropriation matter. The action reflects use of the anti-money laundering framework to secure bank deposits linked to the investigation.
July 8, 2026
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Prevention of Money Laundering Act freezing of political party bank accounts follows alleged fund routing through related entities.
Freezing of bank deposits under the Prevention of Money Laundering Act arose from an ED investigation into alleged misappropriation and routing of funds through political party bank accounts and related entities. The agency stated that three bank accounts were frozen under Section 17(1A) because the deposits could not practicably be seized and needed to be secured from transfer or further dealing, subject to confirmation by the adjudicating authority. The investigation also concerned transfers to a private aviation group, purchase of aircraft and a helicopter, and alleged payments linked to aircraft usage.
July 8, 2026
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Bilateral investment treaty and free trade agreement talks advance as India and Maldives fast-track wider economic cooperation.
India and the Maldives have concluded negotiations for a bilateral investment treaty, with the text undergoing legal scrubbing before signature, while free trade agreement talks are being fast-tracked. The treaty is intended to promote and protect investments in each other's countries, and the trade discussions form part of a broader effort to reduce or eliminate import duties on goods traded between the two countries.
July 8, 2026
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Digital logistics integration through ULIP aims to improve transparency, efficiency and data-driven coordination in Punjab's supply chain ecosystem.
NICDC Logistics Data Services Limited and the Government of Punjab entered into a Memorandum of Understanding to support the digital transformation of Punjab's logistics ecosystem through the Unified Logistics Interface Platform. The partnership focuses on seamless exchange of real-time logistics data across departments to improve logistics visibility, operational efficiency, inter-departmental coordination, transparency and data-driven decision-making for industry stakeholders. ULIP is described as a unified digital gateway based on API integration across government systems.
July 8, 2026
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Premium Pan Asian dining drives Speciality Restaurants Limited's new Gong format with design-led hospitality and scalable growth.
Speciality Restaurants Limited launched Gong in Bandra as a premium Pan Asian dining concept combining progressive cuisine, immersive interiors and elevated hospitality. The restaurant is positioned as a future-ready format designed for higher average spend per cover, optimised space use and faster table turnover, reflecting the company's focus on innovation-led expansion and experiential dining.

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Gong Opens in Bandra as Speciality Restaurants Limited Unveils Its New-Age Pan Asian Flagship in Mumbai

July 8, 2026

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Speciality Restaurants Limited, one of India’s most established hospitality groups and the company behind iconic brands such as Mainland China, Oh! Calcutta and Asia Kitchen by Mainland China, announces the launch of Gong in Bandra, its latest premium dining destination in Mumbai.
The launch of Gong marks a strategic new chapter for Speciality Restaurants Limited as it continues to evolve its portfolio through contemporary, innovation-led formats designed for the next generation of diners. Rooted in progressive Pan Asian cuisine, immersive interiors, and elevated hospitality, Gong reflects the group’s forward-looking approach while staying anchored in the strong operational foundations and culinary legacy that have defined the company for decades.


From Avik Chatterjee, Director & CEO - Speciality Restaurants Limited, "Gong represents the future of hospitality experiences where food, design, culture, emotion and sound come together seamlessly. To me, hospitality has never been just about the plate, it's about how a space makes you feel the moment you walk in, and that philosophy has shaped everything we've built at Speciality Restaurants over the years. Today's diners are looking for more than a meal, they are looking for energy, identity and memorable experiences. With Gong, we wanted to build a concept that feels globally relevant yet deeply connected to Mumbai's dynamic dining culture. It is a strong reflection of how we see the next phase of growth for Speciality Restaurants Limited, through innovation, relevance and long-term brand building."
Speciality Restaurants Limited: A Legacy Reinventing for the Future
With a strong legacy in Indian hospitality, Speciality Restaurants Limited has built some of the country’s most recognisable restaurant brands across multiple dining formats. From pioneering premium Chinese dining with Mainland China to celebrating regional Indian cuisine through Oh! Calcutta, the company has consistently shaped consumer dining preferences through quality, consistency and category leadership.


Now, with Gong, the group enters a new phase focused on design-led concepts, modern consumer behaviour, and globally benchmarked dining experiences.


Gong: A New Benchmark in Premium Pan Asian Dining
Located in the heart of Bandra, Gong has been envisioned as a high-energy yet refined Pan Asian dining destination where cuisine, design and atmosphere come together seamlessly. Designed by Sumessh Menon Associates and inspired by the philosophy of Asian [Sound] Soul, the restaurant features a contemporary setting with brass and bronze accents, earthy textures, bespoke lighting, and distinct indoor and outdoor spaces tailored for Mumbai’s premium dining audience.


The culinary programme is led by Chef Sahil Singh, Chief of Culinary & Operations – Innovation & New Formats at Speciality Restaurants Limited. With experience across India and international markets, Chef Sahil brings a globally informed perspective focused on progressive Pan Asian cuisine, bold flavours, clean execution, and a modern guest-centric sensibility.


Strategic Growth Through New Formats
The launch of Gong highlights Speciality Restaurants Limited's continued investment in future-ready hospitality concepts under the leadership of Avik Chatterjee. Gong also marks a new, efficient format for the company, designed for higher APC, optimised space and faster table turnarounds, making it a scalable model for the future. As changing consumer behaviour drives demand for experiential dining, the company is focused on building formats that combine culinary credibility, strong brand identity and scalable long-term potential.


With an existing portfolio that includes Mainland China, Oh! Calcutta, Asia Kitchen by Mainland China, Sigree, Hoppipola, Episode One, Sweet Bengal, Walters and other concepts across India and international markets, the company remains uniquely positioned to serve multiple audience segments while expanding into new categories.


A Vision for the Next Era of Dining
Gong has been created for the modern diner who values experience as much as cuisine. With its combination of progressive Pan Asian influences, thoughtful design and premium hospitality, the restaurant signals the direction in which Speciality Restaurants Limited sees the future of urban dining in India.


Details:
Location: Gong, 8th floor, Mansionz One, Linking Road, Bandra, Mumbai 400050
Timings: 12:00 Noon – 12:00 AM (All days)
For Reservations: 8655696104/05
Instagram: @gong.india
Website : https://speciality.co.in/
(Disclaimer: The above press release comes to you under an arrangement with NRDPL and PTI takes no editorial responsibility for the same.). PTI PWR

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