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SBI Q4 net profit up 23 percent, bad loan ratio down

MUMBAI - State Bank of India, the nation's top lender by assets, reported a better-than-expected 23 percent increase in quarterly profit and a lower bad loan ratio, sending its shares more than 5 percent higher.

Jaitley promises better tax regime for companies 1:43pm IST

NEW DELHI - Finance Minister Arun Jaitley struck a conciliatory tone towards investors on Friday, promising to tax corporate profits at competitive rates and saying the government would do all in its power to implement a new goods and services tax (GST) on time.

China's Vice Minister of Finance Shi Yaobin (2nd R) listens to delegates during a break in the Fifth Chief Negotiators' meeting which will discuss draft agreements for the China-backed Asian Infrastructure Investment Bank, in Singapore May 20, 2015. REUTERS/Edgar Su
New Regional Bank

AIIB sets target to be operational by year-end

China-backed Asia Infrastructure Investment Bank (AIIB) on Friday set an ambitious target to become operational by the end of the year after a three-day meeting of prospective founding member nations in Singapore. AIIB said in a statement that the meeting finalised the articles of agreement, which are expected to be ready for signing by the end of June, but did not give details.  Full Article | Graphic 

'Bombay Velvet’ failure adds to Bollywood woes

'Bombay Velvet’ failure adds to Bollywood woes

The film, made on a stated budget of 800 million rupees ($12.5 million), made around 160 million rupees ($2.5 million) in its opening weekend, a dismal figure for a film that had A-list stars like Ranbir Kapoor, Karan Johar and Anushka Sharma in lead roles and a huge publicity campaign behind it.  Full Article 

The logo of India's largest online marketplace Flipkart is seen on a building in Bengaluru, India, April 22, 2015. REUTERS/Abhishek N. Chinnappa/Files

Like Alibaba, India e-tailers woo small sellers

Indian e-commerce firms are offering funding help and tech support to woo small retailers, emulating a strategy used by Chinese online retail giant Alibaba to expand into the towns and villages.  Full Article 

A vendor selling traditional candies waits for customers at a shopping district in Beijing February 10, 2015. REUTERS/Kim Kyung-Hoon/Files

Asia’s consumption slump is new growth hurdle

Asia is facing a new growth hurdle: a slump in consumption. The region’s battle against anaemic export demand is already in its fourth year. Now domestic spenders, too, are going on strike. The fear that Asia may be unable or unwilling to spend its cheap-oil bonanza is coming true. Without bold monetary easing, growth may tank, writes Reuters Breakingviews columnist Andy Mukherjee.  Full Article 

Ruins are pictured in the historical city of Palmyra, May 13, 2010. REUTERS/Mohamed Azakir/Files

IS says it has full control of Syria's Palmyra

Islamic State fighters tightened their grip on the historic Syrian city of Palmyra on Thursday and overran Iraqi government defences east of Ramadi, the provincial capital that they seized five days earlier.  Read 

Cho Hyun-ah (C), also known as Heather Cho, daughter of chairman of Korean Air Lines, Cho Yang-ho, leaves for a detention facility after a Korean court ordered her to be detained, at the Seoul Western District Prosecutor's office December 30, 2014. REUTERS/Kim Hong-Ji/Files
Asia

Ex-Korean Air executive freed in 'nut rage' case

Former Korean Air Lines executive Heather Cho walked free after nearly five months in prison on Friday after an appeals court suspended the sentence she was given for her outburst over the way she had been served macadamia nuts.  Full Article 

Rafael Nadal of Spain celebrates his victory over Grigor Dimitrov of Bulgaria after their quarterfinal match at the Madrid Open tennis tournament in Madrid, Spain, May 8, 2015. REUTERS/Sergio Perez

McEnroe believes Nadal not a fading force

After a season in which once rare defeats on his favoured claycourts have arrived with alarming frequency, many believe Rafael Nadal has reached a tipping point. Tennis great John McEnroe, however, thinks it is foolhardy to dismiss the Mallorcan as a fading force and fully expects him to find his 'A game' in the days ahead.  Read | Related 

Actress Alysia Reiner attends the Red Nose Charity event in New York May 21, 2015. REUTERS/Eduardo Munoz

Stars out en masse for Red Nose Day

More than 100 stars, including Oscar winners Julia Roberts, Gwyneth Paltrow, Eddie Redmayne, Julianne Moore and Helen Mirren appeared either live or in taped comedy segments for the first U.S. Red Nose Day, a charitable drive that raises funds for children in need around the world.  Full Article 

Latest Headlines

Views and Expert Opinion with Sankalp Phartiyal
    Fizan Abdullah

    Surgery so simple a gardener can do it – but he probably shouldn’t

    A number of readily teachable surgical procedures can stem much of the rising tide of human suffering. We associate surgery with space-age operating rooms filled with fancy equipment. A handful of conditions require that. But many do not. Non-surgeons trained to do simple procedures can alleviate up to three-quarters of the surgical need in underserved regions.  Read 

    Edward Hadas

    The uses and abuses of Gross Domestic Product

    Numbers can lie, and undoubtedly will when they accumulate years of approximations, estimates and exclusions. It is probably hopeless to suggest that many of the innumerable data series based on GDP should simply be discarded just because they are mostly false and misleading. They are too popular for that. However, GDP is certainly a measure that should be used with extreme caution.  Full Article 

    Elizabeth A. Cobbs

    Why the U.S. officially ‘believes’ Pakistan’s bin Laden story

    Throughout its “war on terrorism,” the United States has had to rely on Pakistan. Though Washington may occasionally have believed its trust was abused, the Pentagon’s need for overflight rights or landing bases, crucial for U.S. troops in Afghanistan and throughout the Middle East, trumped diplomatic niceties.  Commentary 

    One Year In Office

    Modi faces dissent over spending shakeup

    Modi faces dissent over spending shakeup

    As PM Narendra Modi completes one year in office, his cuts in welfare spending on the poorest of India's 1.25 billion people are coming in for sharp criticism, including from within his cabinet.  Full Article 

    David Lalmalsawma

    Book Talk: Mizoram’s pain yet to heal 29 years after peace accord

    Author Malsawmi Jacob was in high school when the independence movement in the future state of Mizoram began in 1966. Jacob, perhaps the only Mizo author to have published a novel in English, spoke about why she decided to write about the “ram buai” (disturbance in the land), and why she thinks the decision of the Mizo rebels to take up arms was a mistake.  Full Article 

    Reuters India on your Android phone

    Reuters India on your Android phone

    Download the Reuters app from Google Play and select the India edition for breaking news, analysis and market updates from the world's largest democracy.  Install