Business

Mumbai, Aug 2 (PTI) The country's largest bank SBI on Friday posted a standalone net profit of Rs 2,312.02 crore for the first quarter of current fiscal, mainly driven by higher income and reduction in bad loans.

The bank had reported a loss of Rs 4,875.85 crore in the April-June quarter of 2018-19.

SBI's standalone total income increased to Rs 70,653.23 crore in the first quarter of 2019-20 as against Rs 65,492.67 crore in the same period a year ago, as per the financial results posted by the bank on stock exchanges.

US President Donald Trump has impose an additional 10% of tariffs on $300 billion worth of goods coming from China. New tariff will be starting next month.

Latest negotiations ended early and  US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin have returned from trade talks in Shanghai. A new meeting had been set up for September.

New York, Aug 1, IRNA – Former Principal Deputy Coordinator for Sanctions Policy of the United States Richard Nephew wrote in a tweet on Wednesday that sanctioning Iran's Foreign Minister Mohammad-Javad Zarif is one of "the most ridiculous steps" he had ever seen during Donald Trump's administration.

"It won’t meaningfully affect Zarif’s diplomacy, it probably won’t result in much in terms of asset freeze or complications for him," wrote Richard Nephew on Wednesday evening.

New Delhi, Jul 31 (PTI) The government's fiscal deficit touched Rs 4.32 lakh crore for the June quarter, which is 61.4 per cent of the budget estimate for 2019-20 fiscal.

In absolute terms, the fiscal deficit or gap between expenditure and revenue was Rs 4.32 lakh crore during at June-end, as per the data released by the Controller General of Accounts (CGA) on Wednesday.

The fiscal deficit was 68.7 per cent of 2018-19 budget estimate in the year-ago period.

New Delhi, Jul 31 (PTI) Senior Congress leader P Chidambaram on Wednesday said he will start ordering from Zomato after the food delivery company refused to resolve a customer's complaint about being assigned a Muslim delivery executive for his order.

"I have not ordered food so far, but I think I will do so now from Zomato," Chidambaram said on Twitter.

His response came after the company responded to its customer saying, "Food doesn't have a religion. It is a religion."

Tehran, July 31, IRNA - Iranian Foreign Minister Mohammad Javad Zarif on Wednesday welcomed shift in regional stance of the United Arab Emirates and hoped to see members of B-Team to decrease.

Speaking to reporters, Mohammad Javad Zarif said that Iran has always made clear that it is interested in cooperation with neighbors.

Like Saudi Arabia and Bahrain, UAE is also Iran's neighbor, he said.

31 July 2019; MEMO: The slowdown in the United Arab Emirates (UAE)’s tourism industry has pushed the Jumeirah Group LLC hotel chain to lay off hundreds of employees, Bloomberg reported yesterday.

“The government-owned luxury hotel chain, which manages 24 properties in eight countries, recently shed about 500 jobs,” the New York-based agency said.  Jumeirah currently employs 13,500 people.

31 July 2019; MEMO: An Iranian military delegation arrived at Tehran on Tuesday to discuss border issues between the two countries, according to the Islamic Republic News Agency (IRNA).

The meeting takes place six years after the last visit, despite the ongoing tensions between the two countries, exacerbated by the crisis of carriers in the Persian Gulf.

New Delhi, Jul 30 (PTI) The CBI has booked London-based Rolls Royce in a corruption case for allegedly paying over Rs 77 crore as commission to an agent to win contracts from public sector undertakings HAL, ONCG and GAIL during 2007-11, officials said Tuesday.

The action comes after a five-year-long inquiry by the agency initiated on the basis of a complaint from the Defence Ministry which had received a letter about the engagement of Singapore-based Ashok Patni and his company Aashmore Pvt Ltd by Rolls Royce, they said.

Kanpur: Despite selling catering at reasonable rates, the railways has been inviting tenders to bid its stalls in the private hands. Stalls coming in north-central railway zone may be operated by the private caterers after the month of August, this year. As many as five stalls on Central platforms will go into the private parties. Only one stall will continue to run by the railways.

According to the reports, the privatisation move will influence 27 stalls spread over 11 railway stations.