The United States Trade Representative’s (USTR’s) office has classified India as a developed economy, ineligible for benefits given by Washington DC to developing countries. This is expected to stop all chances of India reclaiming its benefits under the US’ Generalized System of Preferences (GSP) scheme.

The GSP is America’s oldest preferential trade scheme, which offered Indian exporters tariff-free access to the US until June, when all benefits were suspended.

The number of fatalities from China's new coronavirus epidemic jumped to 1,110 nationwide on Wednesday after hard-hit Hubei province reported 94 new deaths.

In its daily update, Hubei's health commission also confirmed another 1,638 new cases in the central province, where the outbreak emerged in December. There are now more than 44,200 confirmed cases across China, based on previously released figures from the government.

The Aam Aadmi Party (AAP) on Tuesday emerged victorious in the Delhi assembly election as it won 62 of the 70 assembly seats that went to polls on February 8. The BJP came distant second by winning eight seats while the Congress failed to open its account. The Election Commission had on Sunday announced that 62.59% of 1.47 crore voters turned up to vote in the polling that was held on Saturday, February 8.

The counting of votes started at 8 AM on Tuesday. Tight security arrangements were put in place at 21 centres across the national capital with strong rooms storing the EVMs placed under three-layer security.

Sri Lankan Prime Minister Mahinda Rajapaksa offered prayers at the famous Lord Venkateswara temple at nearby Tirumala on Tuesday and left for Colombo, winding up his five-day tour of India. Rajapaksa, who stayed at the heavily guarded TTD Guest House on the hills overnight after his arrival on Monday evening, came to the over 2,000-year old shrine just before the crack of dawn and spent about an hour, officials said.

Delhi Chief Minister Arvind Kejriwal is leading in his New Delhi constituency, while his deputy Manish Sisodia is trailing behind BJP candidate Ravinder Singh Negi.

According to poll trends by the Election Commission, the chief minister is leading by over 6,300 votes while Sisodia is trailing by 754 votes from Patparganj constituency.

Shares of GMM Pfaudler rallied 13 per cent to hit an all-time high of Rs 3,285 on the BSE on Tuesday on the back of heavy volumes. The stock surpassed its previous high of Rs 3,048, touched on February 5, 2020.

GMM Pfaudler is a leading supplier of process equipment to the pharmaceutical and chemical industry segments.

With the early trends hinting at a clear win for the Aam Aadmi Party (AAP), party MP Sanjay Singh said that AAP was on the road to register a massive victory in the 2020 Delhi Assembly elections.

Commenting on the early trends, the AAP Rajya Sabha MP, said: Wait for the final result, we are going to register a massive win.

The U19 World Cup final ended on a bad note after the Indian and Bangladesh lads were involved in an altercation moments after the match ended.

Now the International Cricket Council has charged five players - three Bangladesh and two Indians - after ugly scenes at Potchefstroom on Sunday.

The incident took place after Bangladesh claimed their maiden ICC trophy with a three-wicket victory on the DLS method.

Shares of Sheela Foam surged 12 per cent to Rs 1,770, also its 52-week high, on the BSE on Tuesday after the company's consolidated profit before tax (PBT) jumped 52 per cent year on year (YoY) to Rs 85.85 crore in the December 2019 quarter (Q3FY20). It had a PBT of Rs 56.50 crore in the year ago quarter.

The stock surpassed its previous 52-week high of Rs 1,639 touched on February 7, 2020. Besides, it is 4.5 per cent away from its all-time high of Rs 1,850 touched on November 29, 2017.

With 108 new casualties on Monday, the death toll in China due to the deadly novel coronavirus outbreak has reached 1,016 as reported by the health authority on Tuesday.

The highest daily increase was reported on Monday with 97 deaths.

Of the new deaths, 103 were in the province of Hubei, including 67 in the provincial capital of Wuhan where the epidemic is believed to have originated.

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