Top headlines: AI allowed to acquire AirAsia India; WPI inflation at 15.88%

CCI approves acquisition of AirAsia India by Air India

Anti-trust regulator Competition Commission of India (CCI) on Tuesday said it has approved acquisition of entire shareholding in AirAsia India by Air India, a wholly-owned subsidiary of Tata Sons.

The two combined entities will have a 15.7 per cent share of India’s domestic passenger market. Read more

WPI inflation spikes to record 15.88% in May as heatwave stokes food prices

Wholesale price-based inflation surged to a record high of 15.88 per cent in May as crude prices rose and heatwave brought about a spike in prices of vegetables and fruits, strengthening the possibility of a further interest rate hike by the Reserve Bank.

The Wholesale Price Index (WPI)-based inflation maintained its increasing trajectory for the third month in a row, and remained in double digits for the 14th consecutive month since April last year. Read more

Fitch expects RBI to raise interest rates to 5.9% by December-end

Fitch Ratings on Tuesday said the Reserve Bank is likely to raise interest rates further to 5.9 per cent by December 2022, on deteriorating inflation outlook.

In its update to Global Economic Outlook, Fitch said India's economy faces a worsening external environment, elevated commodity prices, and tighter global monetary policy. Read more

Delhi records 1,118 new Covid cases in a day; positivity rate at 6.5%

Delhi's single-day COVID-19 infections breached the one thousand mark on Tuesday, with a positivity rate of 6.50 per cent and two fatalities, according to data shared by the health department here.

The national capital logged 1,118 cases. It was on May 11 that the national capital had last recorded more than one thousand cases with a positivity rate of 3.34 per cent and one death. Read more