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 16 May 2026 12:15 PM   EconomicTimes

Dr Reddy’s launches generic Semaglutide injection, popular weight-loss drug, in Canada

Dr Reddy's Laboratories has launched its generic Semaglutide injection in Canada. This marks a significant step for the company in providing treatment for type 2 diabetes. Canada is the first G7 nation to approve this medication. The launch follows a recent introduction in India. Dr Reddy's aims to expand access to these therapies globally.

 16 May 2026 11:58 AM   EconomicTimes

India's monthly household basket may feel the heat of rising fuel costs

Consumer goods prices may rise soon. Higher fuel costs from the West Asia conflict will increase shipping and production expenses. Companies like Dabur India and Marico have already raised prices. Further increases are being considered by Nestlé India and Hindustan Unilever. This could affect consumer spending, especially in rural areas.

 16 May 2026 09:55 AM   EconomicTimes

IDFC First Bank case: Haryana govt gives go-ahead to CBI to probe 5 IAS officers' role

The Haryana government has approved a CBI probe into five IAS officers concerning a Rs 590-crore IDFC First Bank fraud. This permission allows the CBI to question the officers. The investigation stems from alleged misappropriation of government funds. Searches have been conducted, and financial records seized. Sixteen individuals have been arrested so far in this significant financial scam.

 16 May 2026 09:51 AM   EconomicTimes

Former Yes Bank CEO Rana Kapoor, Sudhir Valia booked in a fraud case by the Mumbai Police

Mumbai Police have filed a fresh FIR against former Yes Bank co-founder Rana Kapoor and investor Sudhir Valia for an alleged ₹1,000-crore fraud. The case involves the premature transfer of loan recovery rights and undervalued sale of mortgaged assets belonging to Sapphire Land Development Pvt Ltd.

 16 May 2026 08:29 AM   EconomicTimes

Starbucks to open first corporate office in India for tech jobs

Starbucks is establishing its first corporate technology office in India, aiming for fiscal year 2027 to bring outsourced roles in-house and reduce costs. This move is part of a broader strategy to cut $2 billion in expenses and decrease reliance on external service providers, following recent layoffs and a shift of some tech roles to Nashville.

 16 May 2026 06:50 AM   EconomicTimes

Godrej family buys two sea-facing luxury apartments in Worli for Rs 294 cr

Godrej family scion Tanya Dubash has purchased two sea-facing luxury apartments in Mumbai's Worli for over Rs 294 crore, making it one of the country's most expensive residential deals. The ultra-luxury tower Naman Xana has attracted other high-profile buyers, highlighting continued demand for premium Mumbai residences as legacy assets.

 16 May 2026 05:30 AM   EconomicTimes

Four years of frozen fuel prices end as Iran war bites: India raises petrol, diesel by Rs 3/litre but oil firms say it's not enough

Fuel prices have increased by Rs 3 per litre for petrol and diesel. This is the first pump price hike in four years. The move aims to reduce losses for oil companies. However, it is expected to increase freight costs and inflation. More price revisions are anticipated in the coming weeks. CNG prices have also seen a rise.

 16 May 2026 01:27 AM   EconomicTimes

PSBs tap liquidity buffer to meet strong loan demand

Public sector banks are seeing their liquidity coverage ratios decline. This trend is driven by strong loan demand outpacing retail deposit growth. Banks are using their excess liquidity to fund loans. This situation is expected to improve with new regulatory norms starting in Q1 FY27. The changes will impact how certain business accounts are treated for liquidity calculations.

 16 May 2026 01:20 AM   EconomicTimes

Smaller banks find it harder to hit a home run

Larger banks are dominating the home loan market. Mid-sized private banks are struggling as competition squeezes profits. State Bank of India, ICICI Bank, HDFC Bank and Kotak Mahindra Bank are expanding their mortgage books using lower funding costs and wider reach.

 16 May 2026 01:16 AM   EconomicTimes

PFC-REC merger may not be a priority amid war squeeze

Boards of Power Finance Corporation and REC will meet Saturday. Uncertainty surrounds their proposed merger. The government's stake may fall below 51 percent. This could require a substantial capital infusion of around 25,000 crore rupees. Analysts question the feasibility of this. The merger is targeted for April 1, 2027. Discussions continue on the final structure.

 16 May 2026 01:12 AM   EconomicTimes

TVS, other investors keen to buy into Jana Small Finance Bank

Jana Small Finance Bank is poised for a significant capital infusion. TVS Venu Group plans to acquire a 10% stake. Several other investors are also lining up to invest. This marks Jana's first equity raise since going public. The bank's capital adequacy ratio remains strong. TPG Capital may partially reduce its holding.

 16 May 2026 01:06 AM   EconomicTimes

Air India weighed down by external shocks: Singapore Air CEO

Air India's losses have significantly impacted Singapore Airlines' annual profit. Geopolitical issues, airspace closures, and currency fluctuations are cited as key reasons. Despite these challenges, Singapore Airlines remains committed to Air India's long-term turnaround. The airline is a core part of its multi-hub strategy. Support for the transformation continues alongside Tata Sons.

 16 May 2026 01:06 AM   EconomicTimes

Curbs on compressor imports could hit supply of ACs & refrigerators, warn companies

The concern follows a May 8 order by the Department for Promotion of Industry and Internal Trade (DPIIT), which links compressor imports in the current fiscal to a percentage of volumes imported in FY25.

 16 May 2026 01:02 AM   EconomicTimes

Delhi high street retailers push NDMC to rework property tax

At the New Delhi Municipal Corporation (NDMC) under which these markets come, the property tax is up to 25% of the rent collected while in other parts of Delhi it's just 2-3%.

 16 May 2026 12:56 AM   EconomicTimes

LVMH to sell Marc Jacobs to WHP, G-III

LVMH has taken a bold step by selling the iconic Marc Jacobs fashion label to a partnership formed by WHP Global and G-III Apparel Group. Marc Jacobs will still hold the reins as creative director, ensuring the brand's identity remains intact.

 16 May 2026 12:56 AM   EconomicTimes

Import tariff values for gold, silver raised

India's customs board has increased import tariff values for gold and silver. This move aims to manage import costs due to global commodity price changes. Edible oils like palm and soybean oil also see minor adjustments. These new valuations will be effective from May 16, 2026. Policymakers are also looking to control pressure on foreign exchange reserves.

 16 May 2026 12:53 AM   EconomicTimes

Diageo top executives to exit as CEO pushes for revamp

In a bold transformation, Diageo is embracing a new era under the leadership of CEO Dave Lewis. With an eye for innovation, Lewis is executing a profound restructuring, bidding farewell to several key figures in departments like marketing, Africa, and human resources.