Jardine Matheson and CK Hutchison are in talks to combine their Hong Kong supermarket operations into a single entity, according to a Financial Times report. The potential deal would bring together Jardines' Dairy Farm-operated Wellcome chain and CK Hutchison's PARKnSHOP, the two dominant grocery retailers in one of the world's most expensive consumer markets. Together, the chains hold substantial share of Hong Kong's formal grocery sector, and a merger would create a near-duopoly at scale. The strategic logic centers on cost consolidation, shared logistics, procurement leverage, and real estate rationalisation in a high-rent environment, at a time when both conglomerates face pressure from leaner, lower-cost competitors and shifting consumer patterns. For CK Hutchison, a deal would also fit a broader pattern of asset streamlining visible in its recent port-sale negotiations. Regulatory scrutiny will be the critical variable: Hong Kong's Competition Commission has previously flagged grocery market concentration. Execution timeline and deal structure remain unreported; watch for formal confirmations from either conglomerate.
HDFC Bank's board has approved Rajiv Kumar, former Chief Election Commissioner and financial services secretary, as its Part-time Non-Executive Chairman from June 30, 2026. His chairmanship still requires RBI approval, but the move ends the bank's prolonged search for a permanent board leader.
Indian startups raised $1.1 billion across 16 deals in the week of June 21-26, 2026, up 2.5 times from the prior week, with CRED's $900 million Series H led by Meta accounting for most of the total. Square Yards became India's 131st unicorn after closing a $95 million round.
Jet fuel costs dropped sharply after a US-Iran interim peace deal, but airlines are expected to use the savings to rebuild margins rather than cut fares. Tight capacity, aircraft delivery delays, and weak budget carriers give major carriers unusual pricing power heading into the second half of 2026.
Meta is investing $900 million in CRED at a $4.5 billion valuation, the largest Indian startup round of 2026, as founder Kunal Shah moves to a global leadership role at WhatsApp. Miten Sampat takes over as interim CEO, and a major employee stock buyback is expected within weeks.
