📰 India Business Brief: Top Headlines for July 08, 2026

Business Standard

• Forex Reserve Update: Bangladesh's net foreign exchange reserves have been recorded at $27.93 billion following the settlement of $1.48 billion in Asian Clearing Union (ACU) payments for the May-June period.
• Refinery Expansion: The government has officially sanctioned a $1 billion loan from the Islamic Development Bank (IsDB) specifically for the expansion of the Eastern Refinery.
• RMG Export Shift: New data indicates that the US market is successfully cushioning the fall in Ready-Made Garment (RMG) exports to the European Union and other non-traditional markets.
• Central Bank Appointment: The contractual appointment of Bangladesh Bank Deputy Governor Zakir Hossain Chowdhury has been cancelled, with Md Anis Ur Rahman named as his successor for a three-year term.

Economic Times

• Cult.fit IPO Filing: Leading fitness and wellness chain Cult.fit has moved closer to its public market debut, applying for an IPO to raise an estimated ₹4,000 crore.
• Currency Gains: The Indian Rupee saw a sharp appreciation, rising 49 paise to close at 94.94 against the US Dollar, despite broader volatility in the energy markets.
• Reliance Healthcare Patent: Strand Life Sciences, a subsidiary of Reliance, has been granted an Indian patent for a new cancer detection technology, marking a significant milestone in the domestic biotech sector.
• Green Mobility: Union Home Minister Amit Shah flagged off 300 new electric buses in Delhi, part of a larger initiative to transition the capital's public transport fleet to zero-emission vehicles.
• Diplomatic Outreach: Prime Minister Narendra Modi announced that India is prepared to assist Indonesia with satellite launches, strengthening regional space cooperation.

Mint

• Market Correction: The Sensex and Nifty 50 snapped their winning streak, closing 0.13% lower at 78,180.72 and 24,398.70 respectively, as investors reacted to rising crude oil prices.
• Geopolitical Friction: Hostilities between the US and Iran have reignited concerns over supply chain disruptions, leading to a surge in global oil prices and a cautious "sell-on-rise" sentiment among domestic traders.
• Stock Recommendations: Technical analysts have highlighted breakout potential in several stocks for Wednesday's session, including Sona BLW Precision Forgings, Havells India, and Gland Pharma.
• Entertainment Buzz: Bollywood actor Salman Khan has released a first look for his upcoming action-drama Maatrubhumi: May War Rest In Peace, which is already generating significant social media traction.

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