News I read on 26th June

1) Funds parked by Indian individuals and enterprises in Swiss banks, including through India-based branches, fell nearly 6 percent in 2019 to 899 million Swiss francs (Rs 6,625 crore), annual data from Switzerland's central bank showed on Thursday.
Ref: Business Standard

2) Power and New & Renewable Energy Minister R K Singh said his ministry has proposed to impose a basic customs duty (BCD) from August 1, this year on solar equipment in the range of 15-20 percent in the first year, which would eventually increase up to 40 percent.
Ref: Moneycontrol

3) The Securities and Exchange Board of India (Sebi) on Thursday relaxed the pricing norms for preferential issuances to ease the capital-raising process for listed companies. The new pricing formula will enable the issuance of new shares at recent stock prices.
Ref: Business Standard

4) Finance Minister Nirmala Sitharaman on June 25 said the Centre is in talks with the Reserve Bank of India (RBI) on the subject of a one-time restructuring of loans to provide relief to companies that are reeling under stress due to the unprecedented economic fallout.
Ref: Moneycontrol

6) Internet giant Tencent founder and CEO of Ma Huateng, worth $50 billion, has surpassed Alibaba Co-Founder Jack Ma's $48 billion fortune to become China's richest person, according to the Bloomberg Billionaires Index. What worked in favor of the Tencent CEO, who is also known as Pony Ma, is the company's significant surge in stock this week.
Ref: Yahoo Finance

7) The government-owned Power Finance Corporation (PFC) delivered a sound financial performance with loan sanctions of more than Rs 1 lakh crore along with loan disbursements of about Rs 68,000 crore in 2019-20.
Ref: Yahoo Finance

8) The WhatsApp Payments has been suspended by the Brazil Central Bank just a week after the feature was announced. Now, the Facebook-owned messaging app is working on launching the WhatsApp Payments in India, a process that's been in development since 2018.
Ref: Yahoo Finance

9) Erstwhile state-owned lenders United Bank of India (UBI) and Oriental Bank of Commerce (OBC), which have now merged with Punjab National Bank (PNB), posted huge losses in the fourth quarter, which would erode the capital base of PNB, the anchor bank.
Ref: Business Standard

On Thursday, NIFTY closed 16.40 points lower at 10,288.90.

VIX rose by 0.47% and closed at 29.72, the usual safe range for VIX is 12 to 20.

SGX Nifty trading 58.25 points higher at 7:45 am, Indian Time.