Banking Awareness 6th February 2017 | Financial Affairs 6th February 2017.

1. Google sells satellite imaging business Terra Bella to Planet Labs

• Alphabet Inc’s Google  would sell its satellite imaging business, Terra Bella, to Planet Labs, a San Francisco-based private satellite operator founded by former Nasa scientists.
• Google will enter into a multi-year contract to purchase Earth-imaging data from Planet Labs after the deal closes.
• Google had acquired Terra Bella, originally known as Skybox Imaging, for $500 million in 2014.

2. Meeting Apple’s demands to be tough under GST: Hasmukh Adhia

• India may find it difficult to accept Apple’s demand for a 15-year exemption on countervailing duty (CVD) on imported components as the country plans to roll out the GST in the coming year.
• Whatever the tax on local industry, the same will become GST or integrated GST that will be levied on inter-st integrated GST that will be levied on inter-state trade, Hasmukh Adhia said.

3. Sanjeev Sanyal appointed principal economic adviser in Finance Ministry

“The Appointments Committee has approved the appointment of Sanjeev Sanyal, former Global Strategist and managing director, Deutsche Bank, to the post of Principal Economic Adviser in the Department of Economic Affairs”.

4. IDFC MD Vikram Limaye the new CEO, MD of NSE

Leading stock exchange National Stock Exchange on Friday selected IDFC chief Vikram Limaye as its new CEO and Managing Director, two months after the sudden exit of Chitra Ramkrishna from the top post.

5. AAI Act amendment unlikely to spell out purposes of land use

“The idea of the proposed amendment is to allow usage of land as is required at a particular point in time. It is unlikely to define what all the land can be used for as is the case at present,” said a senior AAI official.

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