SERVICE

Kitsap Fast Ferries carried 854,529 passengers in 2024, while fares covered 16% of operating costs in 2023; voters approved a sales tax to fund the service

Kitsap Fast Ferries has successfully increased passenger transport, carrying over 854,000 passengers in 2024. The local sales tax supports 84 percent of the operating costs instead of relying solely on ticket sales. More than half a million passengers used the Bremerton route, showcasing significant demand for faster service. The system's reliability was highlighted with high performance metrics in scheduled service.

Singapore to launch gold vaulting service for foreign central banks, ease taxes to boost bullion trad

Singapore's central bank will introduce a gold vaulting service for foreign central banks and financial institutions. This initiative aims to strengthen Singapore's position as a global trading hub for precious metals. Alongside the vaulting service, new tax incentives for companies in the bullion market will be implemented next year. The Monetary Authority of Singapore is also preparing an over-the-counter gold clearing system by 2027.

Delhi govt notifies new law, imposes Rs 250 daily fine on officials for service delays

The Delhi government has enacted the Delhi (Right of Citizens to Time-Bound and Easy Delivery of Services) Act, 2026. The Act aims to ensure government services are delivered within specified timeframes, holding officials accountable for delays. A designated officer will be responsible for each service, ensuring transparency and tracking. Appeals related to delays can escalate automatically to the Citizen Grievance Redressal Authority.

Apple Intelligence AI service registers with Chinese regulator for use on tablets, laptops

The cyberspace regulator in China's Shanghai said on Monday that Apple's generative AI service, Apple Intelligence, has been registered for use on tablets and laptops in China.

No More Zeroes: Govt plans to extend ZED certification scheme to services sector MSMEs

In a significant move, the Indian government is widening its Zero Defect Zero Effect certification initiative to include service enterprises in the MSME sector. This strategy will target key industries like transport, hospitality, and healthcare with approximately 20 predefined quality metrics. Furthermore, specialized standards for MSME exporters will ensure they meet global quality benchmarks, ultimately empowering these businesses in the international marketplace.

Chinese companies providing overseas services to Indian subsidiaries may escape tax: ITAT

In a landmark decision, the Delhi Income Tax Appellate Tribunal has determined that Chinese firms offering services from overseas are not liable for Indian taxes. This ruling contrasts with a Mumbai bench decision made in 2010 regarding taxation policies on foreign services. The tribunal's finding is advantageous for Chinese companies supplying centralized services to Indian entities during the digital age.

Smaller deals become big revenue driver for India’s top IT firms

The number of customers generating $1-10 million in annual revenue increased at most of these companies in the first half of fiscal 2027 from a year earlier, even as that of their big clients remained largely flat or grew at a slower pace.

Equity mutual funds rally up to 9% in a week; banking & financial services funds top the chart. Check 8 funds with over 8.5% gain

Netflix India's FY26 net up 6% at Rs 90 crore

Netflix India reported a 6% year-on-year rise in net profit to Rs 90 crore in FY26. Total income increased by 17% to Rs 4,477 crore, primarily through subscriber growth. Expenditure also rose by 17%, impacting profit margins and performance. Meanwhile, Los Gatos Production Services India experienced a decline in net profit, indicating challenges in the content production sector.

Diwali 2026: Delhi Metro to commence services at 6 am on select routes; check new timings here

Delhi Metro has announced earlier train services on select lines for Diwali festivities. Trains on the Pink Line, Magenta Line, and Grey Line will begin operations at 6 am. Regular services will continue according to the Sunday timetable after the early start. Last trains from all terminal stations will depart at 10 pm on Sunday. This revised schedule aims to accommodate commuters during the festive occasion.

US Treasury sanctions Canadian money services firms over Iran-related transactions

US Treasury imposed financial sanctions on eight Canadian money services firms involved with sanctioned Iranian entities. The sanctions block access to dollar-based financial systems and prohibit transactions with US persons. Secretary of the Treasury Scott Bessent stated that Canada cannot provide safe havens for illicit financial facilitators. Additionally, MEXC Global, a virtual currency exchanger, was cut off from the US financial system.

Southern Railway runs 132 special trains, deploys extra RPF personnel to manage Diwali rush

Southern Railway managed the rise in passenger traffic during the Diwali season by operating special trains. A total of 132 special trains were run, along with additional coaches for 22 Mail and Express services. Key destinations linked include Madurai, Tirunelveli, and Bengaluru among other cities across India. Comprehensive security measures were implemented at major stations to ensure passenger safety and guidance.

AI gains fail to cool rising staff costs at Indian IT services firms

Although artificial intelligence (AI) and automation are changing the traditional labour-intensive model of IT services, they have yet to bring down employee costs for the country’s top six IT services companies—Tata Consultancy Services (TCS), Infosys, HCLTech, Wipro, Tech Mahindra and LTM (formerly LTIMindtree).

TRAI moots satellite network-as-a-service model, bars infra providers from directly serving users

TRAI has recommended a new framework for satellite communications, which includes authorising satellite network providers. These providers can offer infrastructure and capacity services to eligible telecom operators without directly serving consumers. The framework also enables potential direct-to-device connectivity using satellite and terrestrial mobile spectrum. Authorised providers will have an authorisation period of up to 20 years, with possible renewal.

Blinkit Ambulance to charge Rs 2,500 for non-emergency trips; emergency service will stay free: Deepinder Goyal

Goyal said Blinkit Ambulance has served about 42,000 cases in the last two years, of which roughly 20,000 were emergencies. None were charged but a growing share of bookings were for routine checkups, hospital visits and hospital-to-home transfers, trips that “an Uber or private transport could have handled just as easily,” he said.

Russia's service sector stagnates, output rises marginally in October

Russia's service sector showed minimal growth in October, with a decrease in orders for the first time in three months. New businesses also fell, indicating a concerning trend amid declining export demand. Employment exhibited a marginal increase after a prolonged period of job cuts across the economy. Input cost inflation rose as firms adjusted selling prices to manage higher costs.

Ahead of crucial assembly polls, govt rejigs Agnipath, opens path to permanent service for all

The government has made significant changes to the Agnipath scheme that affects armed forces recruitment. This revised framework allows all Agniveers a chance to continue in service after their initial term. Agniveers will now have an option for an additional two-year engagement with enhanced benefits. The decision addresses concerns regarding the wastage of training resources if they were required to leave after four years.

New orders & robust demand lift India's October services growth to 4-month high

Growth in India's services sector increased to a four-month high in October due to strong domestic demand and business orders. The HSBC Services Business Activity Index rose to 55.8, reflecting improved business conditions. Conversely, manufacturing activity showed a slight decline, easing to a PMI of 54.7. While input prices continued to rise, the rate of increase was the slowest in over six years.

India's services growth accelerates to 55.8 in October, cost pressures ease to six-year low

India's services sector activity expanded at its fastest pace in four months in October, with the HSBC India Services Purchasing Managers' Index (PMI) rising to 55.8 from 55.2 in September, while input cost inflation eased to its lowest level in more than six years, according to data released by S&P Global on Wednesday.

BLS International Services net profit rises 8.6% to Rs 201.7 cr in July-September

BLS International Services reported an 8.6 percent growth in profit after tax for the quarter ended September 2026. The company's revenue from operations rose by 32 percent compared to the same period last year. Investments in AI technology, automation, and employee upskilling are part of their growth strategy. The leadership expressed confidence in future growth supported by technology and global expansion.

RBI eases forex rules for services exports and imports

The changes form part of the Foreign Exchange Management (Export and Import of Goods and Services) which came into effect from October 1, 2026. Under the amended regulations, a resident individual exporting services will be deemed to have submitted the Export Declaration Form, or EDF, once the individual provides the authorised dealer bank with the information required to credit the payment to the exporter's account. No transaction-value threshold has been prescribed for resident individuals.

BLS E-Services Q2 Results: Net profit rises 12% YoY pc to Rs 20.5 cr

BLS E-Services reported a 12.4 percent year-on-year increase in profit after tax for Q2 FY27. The total income for the quarter reached Rs 428.1 crore, up 55.1 percent year-on-year. Additionally, the company's operating EBITDA rose to Rs 28.8 crore, marking a 43.8 percent increase from the previous year. The Business Correspondent segment also achieved a Gross Transaction Value of over Rs 41,400 crore.