5 must read Zee Business stories: Adani gets coal and rail project nod in Australia, why Facebook needs more time to close WhatsApp deal

1. Australia approves Adani's A$16.5 bn Carmichael coal project: The Australian government on Monday approved Indian firm Adani Mining Pty Ltd`s controversial A$16.5 billion ($15.5 billion) Carmichael coal and rail project in Queensland, subject to strict conditions to protect groundwater.

2. Govt starts dumping probe into chemical imported from China: The Directorate General of Anti-Dumping and Allied Duties (DGAD), an arm of the Commerce Ministry, has begun investigations into the matter.

3. India's FII debt limit hike credit-positive: Moody's India`s measures to raise the investment limit for foreign institutional investors (FIIs) in government bonds is a positive for the country`s credit profile since it will help stabilise domestic interest and currency rates, Moody`s Investors Service said on Monday.

4. Top-seven firms add Rs 76,793 cr in market valuation: Helped by a smart rally in the market valuation of IT bellwether TCS, the top-seven most valued Indian companies together added Rs 76,793 crore in their market capitalisation (m-cap) last week.

5. Facebook extends closing of WhatsApp acquisition by a year: The California-based firm will have to pay WhatsApp USD 1 billion in cash and USD 1 billion in stock options in case it fails to close the deal in the stipulated time.