Latest News On May 31st: FE Breaking News takes you through all big updates of the day. From latest on Adani Ports to buzz around GDP numbers to new updates on wrestlers’ protest , here’s look at the top news around the globe:

Transactions between 2 govt firms exempt from prior nod requirements by audit committee for RPTs: Sebi

Transactions entered into between two state-run companies are exempted from taking prior approval of the audit committee and shareholders for related-party transactions, markets regulator Sebi clarified on Wednesday.The clarification came after NTPC sought informal guidance about related party transactions (RPTs) under the LODR (Listing Obligations and Disclosure Requirements) rules.The state-owned company has sought clarification on whether approval of an audit committee is required for transactions between NTPC and PTC India, and Energy Efficiency Services Ltd (EESL), where nominee directors are appointed by the Government of India. (READ MORE)

GDP grows at 7.2 per cent in 2022-23 against 9.1 per cent expansion in previous fiscal: Govt data

India’s economy grew 6.1 per cent in the fourth quarter of 2022-23, pushing up the annual growth rate to 7.2 per cent, official data showed on Wednesday. Growth in the January-March period was higher than the 4.5 per cent expansion in the previous October-December quarter of 2022-23. The Gross Domestic Product (GDP) had expanded by 4 per cent in the January-March period of 2021-22, according to data released by the National Statistical Office (NSO). (READ MORE)

Gyanvapi mosque case

The Allahabad High Court on Wednesday dismisses the Muslim side’s plea challenging maintainability of five Hindu women worshippers’ suit filed in Varanasi Court seeking the right to worship inside Gyanvapi mosque in Varanasi, reported ANI.

The Allahabad High Court on Wednesday dismisses the Muslim side’s plea challenging maintainability of five Hindu women worshippers’ suit filed in Varanasi Court seeking the right to worship inside Gyanvapi mosque in Varanasi. Read More

World’s biggest food storage scheme

The Narendra Modi government has given nod for world’s biggest food grain storage scheme. Minister Anurag Thakur said that the project will be under the cooperative societies sector. The decision was taken at a Cabinet meeting, Thakur said.

Renault crosses 9 lakh units of sales milestone in India

French auto major Renault on Wednesday said it has crossed the 9 lakh units milestone in cumulative sales in India in the last 11 years. The company, which started selling its made-in-India vehicles from 2012, currently sells entry level car Kwid, compact SUV Kiger and multipurpose vehicle Triber. (PTI)

Clean-chit for WFI’s Brij Bhushan Singh?

There is no substantial evidence against the WFI boss, Delhi Police sources were quoted as saying by news agency ANI. The sources say that the charge sheet/report will be filed in next 15 days. No supportive claim that backs wrestlers’ claim, the sources say.

Deloitte flags Adani Port transactions citing lack of review: Bloomberg report

A Bloomberg report says Deloitte, Adani Ports & Special Economic Zone Ltd’s auditor, said insufficient disclosures over certain transactions means it can only issue a qualified opinion on the company’s accounts. This has brought back the spotlight to allegations made by short seller Hindenburg Research on Gautam Adani’s empire. Deloitte Haskins & Sells LLP raised concerns on Tuesday over the port unit’s transactions with three entities, which the company said were unrelated parties, the Bloomberg report said.

Drone attack in Russia

RIA, the state-owned agency, reported an alleged drone attack in Russia’s southern region on Wednesday. RIA said that Ilsky oil refinery suffered a drone attack but no major damages were reported.

Allahabad HC’s ruling in Gyanvapi case

The Allahabad High Court will announced its verdict in the Gyanvapi case. The verdict is pertaining to the regular ‘pooja’ or Gyanvapi-Shringar case.

Morgan Stanley report hails India’s economic growth

Morgan Stanley India MD Ridham Desai on Wednesday issued a note lauding India’s economic transformation. Desai said that India has witnessed new paradigm of advancements with favorable outlook for macroeconomic landscape.

Q4 GDP numbers to be announced today

‘The National Statistical Office of Narendra Modi Government will announce the Q4 GDP numbers today. The Reserve Bank of India’s estimates say that country’s real gross domestic product will be at 5.1 per cent.

Jobs cuts at Goldman Sachs

Amid sluggish economy and market sentiments, Goldman Sachs Group will announce new round of job cuts. According to a Reuters report, as many as 250 jobs will be slashed and majority of them will be at senior level. (READ MORE)

Earthquake hits New Zealand

Latest Reuters report says that a 5.7 magnitude tremor jolted parts of New Zealand today. European-Mediterranean Seismological Centre says that it was a shallow tremor at 10 km depth.