After coming close to hitting $1 billion, Amazon's international losses have fallen for the third consecutive quarter as operating margins in markets such as Europe and Japan grew, offsetting losses the company continues to make in India.

Amazon reported a loss of $494 million on sales of $14.6 billion from international markets (outside North America) for the three months that ended June 2018.

The US and India are working together "hand in glove" diplomatically and militarily to build dimensions of the critical bilateral relationship ahead of the "two-plus-two" dialogue, a State Department official has told American lawmakers.

During a Congressional hearing, Alice Wells, principal deputy assistant secretary of state for South and Central Asia, said the US is looking forward to the "two-plus-two" dialogue with India in New Delhi in September.

State Bank of India (SBI), Punjab National Bank (PNB) and Bank of Baroda (BoB) are planning to introduce performance-linked salary structure for the senior management — a first-of-its-kind move among public sector banks (PSBs).

PNB Managing Director and Chief Executive Officer Sunil Mehta told Business Standard:

Israel's national carrier El Al said it has withdrawn its plea filed in the top court against the government decision to allow Air India to fly over Saudi Arabia's airspace on Delhi-Tel Aviv route, something it had claimed gives its competitor an unfair competitive edge.

Local media reports said Israel's High Court of Justice had urged El Al to drop the petition it filed in March this year, days after Air India's inaugural flight landed in Tel Aviv on March 22.

Prime Minister Narendra Modi on Thursday held talks with Russian President Vladimir Putin on the sidelines of the BRICS Summit in Johannesburg and said the friendship between the two countries is deep-rooted.

The meeting between the two leaders comes after their informal meet in the Black Sea coastal city of Sochi, Russia in May.

The government is planning to sell up to 10 per cent stake each in real estate firms HUDCO and NBCC as also 3 per cent in NTPC through an offer for sale (OFS), which could fetch about Rs 59 billion to the exchequer.

The finance ministry will soon float Request for Proposals (RFP) to appoint merchant bankers for managing the stake sale of HUDCO and NBCC, a source said.

Islamabad, July 26 (Reuters): Cricketer-turned-politician Imran Khan inched closer to power on Thursday after a general election that has been marred by long delays in ballot counting and claims of rigging by opponents.

With nearly half the votes counted from Wednesday's election, Khan's Pakistan Tehreek-i-Insaf (PTI), or Pakistan Movement for Justice, was in a commanding lead.

Private sector lender Yes Bank's first quarter net profit rose 30 per cent on the back of rise in interest and other income as asset quality fell.

The bank's net profit rose to Rs 12.6 billion in the quarter ended June, compared with Rs 9.65 billion in the year-ago quarter. The bank's net interest income, or the interest earned minus interest expended, rose 22 per cent on a year-on-year basis to Rs 22.19 billion.

American carmaker Ford, which tasted success in India with its EcoSport sports utility vehicle (SUV), plans to have an SUV dominated future line up for the local market. EcoSport accounts for almost 40 per cent of the cumulative one million units sold by the car maker in India till date. More than half of its future launches could be SUVs.

The government today gave final approval to the mega merger of Vodafone and Idea Cellular which will create the country’s largest mobile operator with 35 percent market share with around 430 million subscribers. The move comes just days after Idea Cellular and Vodafone India made a joint payment of Rs 7,268.78 crore ‘under protest’ to the Department of Telecom (DoT) for merging their mobile business.

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