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.
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-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
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
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
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
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
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
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
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
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
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