Bollywood songs blared at full volume as the waiter placed two terracotta pots of coconut toddy on our table. "One's from last evening, the other from this morning. Go easy on the evening one," he advised with a knowing grin.

Last week I found myself at a charming toddy pub on Vypin Island, just north of Kochi, though the loud Bollywood beats gave the place an odd mix of quaint and chaotic. As someone who calls Bengaluru home, toddy feels like an exotic indulgence. It's like sipping fizzy coconut water with a punch—and trust me, the punch really does its job.

Kochi has always been my favourite city in Kerala. In a state with nearly 50% urbanisation, Kochi shines as its main urban hub. And then, there's the history. The nearby ancient port of Muziris was once a thriving centre of trade between India, the Romans, Arabs, and Greeks. Its bustling spice market, especially famous for pepper, connected Kerala's shores to the world. Today, Kochi carries this legacy forward with pride.

The city's rich history seeps into every corner, from its colonial-era buildings to the echoes of ancient trading routes. Kochi's coastal charm, paired with the simple joy of sipping fresh coconut toddy, creates a vibe that's both vibrant and laidback. And yet, this city doesn't just live in the past—it's a modern metro, offering all the conveniences and energy of urban life while never losing its soul. That's why I love Kochi.

On to the best of Mint's work from this week:

🇮🇳 The Indian government is exploring the creation of its first sovereign wealth fund by pooling shares it owns in publicly traded companies. This proposed fund could control assets worth around ₹50 trillion, sources told Mint's Mihir Mishra. The government would maintain control by possibly issuing non-voting shares and exploring a "golden share" concept, which grants specific rights without affecting voting power. Globally, about 40 countries have sovereign wealth funds, using them to secure critical assets and improve infrastructure. This new fund could also enhance public sector efficiency by encouraging mergers or reorganizations.

 🇦🇪 The UAE's Golden Visa program is catching the eye of wealthy Indians, with about 4,300 expected to relocate to the Emirate in 2024, and Dubai is a top choice. The draw? A 10-year renewable residency that can be yours with a minimum real estate investment of around ₹4.57 crore. Once you've invested, you'll snag a six-month multi-entry visa to start, then head to the UAE for your ID and medical checks. It takes a couple of months to process, but it's a straightforward path to planting roots in Dubai. This visa isn't just a ticket to the UAE; it's a gateway to tax benefits and global connectivity. In this piece, Mint Money's Jash Kriplani takes you through the process of applying for a golden visa.

 India Inc is tightening its employment contracts and policies to eliminate any ambiguity around remote working. Firms are now clearly stating who is eligible to work from home and the specific hours employees must be available, ensuring remote work isn't seen as an automatic entitlement. Mint's Neha Joshi and Devina Sengupta spoke to industry insiders who highlighted that this shift helps manage expectations and prevent habitual absenteeism, reflecting a broader move to formalize work-from-home setups. Moreover, to cater to a diverse workforce, companies are expanding their leave categories, including options like pet-parenting leave and marriage preparation leave, which accommodate various personal needs.

 The GST Council, chaired by Union finance minister Nirmala Sitharaman, recently made several pivotal decisions affecting various sectors. Key among them was granting tax relief to foreign airlines and certain helicopter services, alongside cutting the GST rate on cancer drugs and some snacks. Additionally, the Council is considering future changes to the GST compensation cess on items like automobiles and tobacco, potentially extending it beyond its 2026 expiration in some form due to ongoing developmental funding needs. In a significant move for the insurance sector, the Council has tasked a ministerial group to explore the possibility of reducing GST rates on health insurance premiums, with findings expected by October. Mint's senior editor, Grieesh Chandra Prasad, reports on the changes proposed by the GST Council this week.

Mangroves are nature's marvels, nestled between the land, river, and sea, creating a sanctuary not just for their unique salt-tolerant trees but also for an impressive array of life. These vibrant ecosystems are master protectors of our coastlines, absorbing carbon and buffering against storms, tsunamis, and erosion. Over time, though their spread has dwindled, recent efforts in India have sparked a promising revival.  After realizing their protective prowess post-catastrophes like tsunamis and cyclones, there's been a renewed push to restore and conserve these lush, green buffers. The conservation mission is vibrant and varied. From Maharashtra's dedicated Mangrove Cell to grassroots movements that weave together community action and sustainable practices, there's a groundswell of support for these vital forests. Independent journalist Anita Rao Kashi writes for Mint Lounge, talking about how India's mangroves if conserved, can serve as hotspots for tourism, education and connection.

 In India, a shocking 75% of doctors have faced some form of violence while on duty, with emergency room staff frequently enduring verbal abuse. This alarming reality came into sharp focus following horrific incidents at two hospitals: in Delhi, where gunmen mistakenly killed a patient, and in Kolkata, where a junior doctor was tragically raped and murdered. Independent journalist Shriya Mohan writes about how these events triggered widespread outrage and calls for urgent action to protect healthcare workers. Responding to the outcry, the Supreme Court stepped in, setting up a task force to propose better safety measures for medical staff. Among the suggested improvements are installing metal detectors, CCTV cameras, and panic buttons in hospitals to help prevent future incidents. The hope is that with these enhancements, doctors can feel safer and focus on saving lives without fearing for their own.

Just two years after climbing out of bankruptcy, Diamond Power Infrastructure Ltd, based in Ahmedabad and known for its electric cables and transmission towers, has seen its fortunes soar to nearly a $1 billion market cap. A big part of this turnaround? A steady stream of business from the Adani conglomerate, led by Gautam Adani, who happens to be the brother-in-law of Diamond Power's chairman, Rakesh Ramanlal Shah. Although a hefty chunk of Diamond Power's orders come from Adani companies, these aren't flagged as related-party transactions in their reports, sparking debate among experts about whether regulations need tightening. Varun Sood reports on how a company on the brink of bankruptcy is now worth almost a billion dollars, thanks to a push from the Adani Group.

The excitement around Apple's iPhone 16 is palpable in India, where analysts predict a surge in sales by up to 20% in the coming three months, perfectly timed with the festive season. This boost is expected to help Apple approach a $15 billion revenue target in India for the fiscal year 2024-25. Despite global scepticism about its heavy reliance on AI features, the Indian market's response has been overwhelmingly positive, thanks to strategic pricing and festive discounts. While globally, Apple shares dipped post-launch, the Indian market's reception could paint a different story, writes Shouvik Das.

Biryani has truly become India's new favourite go-to food, not just at festive gatherings but as an everyday meal. Thanks to food delivery giants like Zomato and Swiggy, grabbing a plate of biryani is now as easy as ordering a pizza. Swiggy, in fact, saw a whopping 250 biryani orders per minute during last year's India-Pakistan World Cup match! This biryani boom is also spurring a surge in basmati rice sales, especially in bulk. Ayush Gupta from KRBL, a rice processing company, told Mint's Suneera Tandon that their bulk rice sales have skyrocketed, growing 20-25% each year post-COVID, particularly in the South where biryani is a staple. But the craze isn't just a southern phenomenon anymore; it's nationwide. Recognizing this trend, rice companies are getting creative, rolling out biryani mixes and kits for easy home cooking, aiming to replicate the restaurant experience in your kitchen. Whether it's a match day or any day, it seems like biryani is on everyone's menu.

 The Competition Commission of India is gearing up to potentially hit Amazon Seller Services with a hefty fine, following an investigation that confirmed the e-commerce giant's anti-competitive behaviour, people aware of the development told Gireesh Chandra Prasad. This comes under the new competition laws that could see Amazon facing penalties up to 10% of its global turnover. The case stems from a complaint by a Delhi-based trade association in January 2020, which led to a detailed probe into Amazon's business practices, including preferential treatment of certain sellers and exclusive product strategies.

 Lately, several venture capital insiders have been leaving their jobs at big firms to start their own funds. However, they're hitting a bit of a wall when it comes to drumming up investor interest. It turns out investors are currently more captivated by the juicier returns of the public markets. For example, while public stocks might be offering returns of around 25%, private ventures are lagging behind at about 15%, making them a harder sell due to their riskier and less liquid nature. Mansi Verma and Priyamvada report on these new VC endeavours that are finding the fundraising landscape quite competitive, especially as limited partners (LPs) prefer to stick with established managers they trust.

That's all for this week. I hope you have a pleasant weekend!