Business

Donald Trump terminates preferential trade status for India under GSP

President Donald Trump has terminated India’s designation as a beneficiary developing nation under the key Generalized System of Preference (GSP) trade programme after determining that it has not assured the US that it will provide “equitable and reasonable access” to…

SC seeks Centre’s reply on plea to regulate Netflix, Amazon Prime Video content

The Supreme Court on Friday asked for the Centre’s response on a plea seeking guidelines to regulate the functioning of online media streaming platforms like Netflix and Amazon Prime Video which display “uncertified and sexually explicit” content. A bench of…

SBI reports net profit of Rs 838 crore in March 2019 quarter

Country’s largest lender State Bank of India (SBI) on Friday said it has reported a net profit of Rs 838.40 crore in the fourth quarter of 2018-19 fiscal on a standalone basis as non-performing assets (NPAs) came down. The state-owned…

Amazon’s Bezos unveils lunar lander project ‘Blue Moon’

Jeff Bezos, the richest man in the world and head of space company Blue Origin, announced Thursday his intent to participate in the new race to the Moon with a high-tech lander to carry vehicles and equipment. “This is Blue…

RIL to acquire British toy-maker Hamleys for Rs 620 cr

Mukesh Ambani-led Reliance Industries on Thursday announced that it will acquire iconic British toy-maker Hamleys for 67.96 million pounds (around Rs 620 crore) in an all-cash deal. Hamleys, a 259-year-old toy-maker, has struggled to generate profits in recent times. It…

India, Turkey vow to step up trade ties

India and Turkey on Wednesday resolved to step up their economic ties with an aim to reach USD 10 billion bilateral trade by 2020. Turkey’s Deputy Foreign Minister Sedat Onal, who is on a three-day India visit from Tuesday, held…

Hughes, Airtel to combine India VSAT biz

Telecom operator Bharti Airtel and Hughes Communications India Ltd (HCIL) on Tuesday announced that they will combine their VSAT (Very Small Aperture Terminal) satellite operations in the country. HCIL is a subsidiary of broadband satellite networks and services provider Hughes…

Services sector output growth at 7-month low in Apr: PMI

The country’s services sector activity fell to a seven-month low in April owing to softer rise in new business and disruptions arising from the elections, a monthly survey showed Monday. However, predictions that economic conditions will normalise after the elections…

Income tax e-filers by over 6.6 lakh in FY2019

In a first in recent history of tax filings, income tax e-filings in FY2019 have dropped by more than 6.6 lakh, a trend that analysts said was surprising as tax base was expected to increase post demonetisation. According to statistics…

Godrej Properties buys iconic R K Studios’ land

Realty firm Godrej Properties Friday announced the acquisition of iconic R K Studios’ land in Chembur, Mumbai, where it would develop mixed-use project housing luxury flats and retail space. Godrej Properties, part of Godrej group, said it has added a…