On the itinerary: Luxury camping, tribal homestays, heritage cities.
Commercial 5G services will be rolled out in 13 cities in India, including the metropolises, in 2022, the Department of Telecommunications (DoT) said in a statement on Monday. These cities are Delhi, Gurugram, Mumbai, Pune, Chennai, Kolkata, Bengaluru, Hyderabad, Chandigarh, Lucknow, Ahmedabad, Gandhinagar, and Jamnagar. "These metros and big cities would be the first places for the launch of 5G services in the country next year," the DoT said.
'We are not organising any large celebrations on New Year's Eve to avoid last-minute changes in guidelines.'
Larsen & Toubro (L&T), India's largest construction and engineering player, has lost as many as 14 large orders in the country because companies that don't possess adequate technical expertise and experience, of late, have won the projects by bidding lower, claimed A M Naik, non-executive chairman of L&T. But the company has made up for the losses by winning projects overseas, where it has acquired a sizeable market share amid tough competition from large global players, he said.
The issue of fog and low visibility primarily impacts airports in northern India and Bengaluru.
The Reserve Bank of India's action against Reliance Capital comes at a time when the Anil Ambani group was planning to make a comeback with the group company, Reliance Infrastructure, raising funds from the promoter family. As part of the comeback plan, Reliance Infrastructure received Rs 550 crore fund infusion from the Anil Ambani family. A month earlier, Reliance Power, a listed subsidiary of Reliance Infrastructure, also raised funds from its parent by issuing preferential allotment of shares thus increasing the stake of Reliance Infrastructure in the company.
India's largest online travel agency, MakeMyTrip said that it is premature to assess the impact of Omicron variant on overseas tour bookings. Others in the travel sector however are worried about cancellations in the coming days as countries tighten travel restrictions. "It is too early to assess the impact of the new Covid-19 variant on outbound travel. "Additional protocols are already set in any case from several countries which will help contain the variant coming to India.
Under the new norms, passengers coming from 12 'at risk' countries/regions undergo an RT-PCR test and wait for result at the airport before leaving or taking a connecting flight
Tata Sons is all set to acquire a residual stake of 16.33 per cent in AirAsia India from its joint venture (JV) partner AirAsia Berhad for $19 million (or Rs 142 crore) by early next year. The valuation is in accordance with the previous transaction under which AirAsia Berhad had sold its 32.6 per cent stake, said a banking source. Tata Group had increased its stake in AirAsia India at a valuation of $115 million.
The civil aviation ministry has mandated airlines and ground-handling companies to phase out airport equipment older than 12 years and switch to electric or fuel-efficient variants by May 2022. While companies have welcomed the ministry's green initiative, they said that the deadline for implementation is tight. This is especially in the wake of financial challenges faced by the aviation sector during the pandemic.
Domestic airlines are preparing to offer lower fares for passengers without check-in bags in a move to improve seat occupancy and market share. IndiGo chief executive officer Ronojoy Dutta indicated the airline's interest to offer zero bag fares in an interaction with Bloomberg. Regulatory caps on fares and capacity related to Covid-19 have prevented IndiGo from taking a decision and the airline is discussing the issue with the government, he said.
Reliance-Google's new smartphone has got mixed reviews from analysts and brokerages. The phone pricing is seen unattractive for low-end customers and bundled offers are being viewed as non-disruptive. While this could slow the pace of adoption, it could set the stage for tariff hikes in the industry, feel analysts.
The groups plan to take on well-entrenched players like Amazon, Flipkart, and Paytm by merging their offline businesses with e-commerce initiatives.
Amazon violated FDI norms, allege Future Retail independent directors.
Bharti Airtel aims to leverage its 180 million plus digital service customers and its wide presence in rural areas to grow its payment bank business. "We are well placed as we can leverage the 180 million plus customers we have across our digital assets. "We offer a plethora of services such as lucrative interest rates, gift cards, FASTag, telecom recharges, payments and debit cards. "Our large merchant base of more than eight million allows us to drive both engagement and monetisation.
The acquisition will give the Tatas a firm footing on international routes and generate economies of scale.
Travel companies are expecting a heavy rush to the US following the withdrawal of curbs on fully vaccinated travellers from select countries, including India, on November 8. The move will benefit those holding long-term tourist, business, and work visas. Also, new and extra flights by Air India and American Airlines are expected to provide better travel options.
Even as the corporate battle over Zee Entertainment Enterprises (ZEEL) has reached the Bombay high court, another Essel Group firm - Dish TV India - is gearing up for a legal battle with YES Bank by planning to move the National Company Law Tribunal to appoint six of its nominees on the board of the loss-making company. While Dish TV said YES Bank has acquired 26 per cent stake by invoking the pledged shares of Essel Group promoter, it also said YES Bank must make an open offer to shareholders of the company, according to the Securities and Exchange Board of India (Sebi) takeover code. This, as YES Bank is seeking to take control of the company, said Dish TV.
The Tata group may have to deploy upwards of $1 billion to improve the airline's passenger reservation system, upgrade and refurbish Air India's fleet, primarily the wide-body aircraft which are the mainstay for the airline's international operations, people in the know said. While the group has not yet decided on how it intends to integrate Air India with its existing airlines AirAsia India and Vistara, sources said the first task will be to refinance Air India's existing loans, upgrade its aircraft gradually, and rewrite multiple business contracts with vendors and suppliers. "They will have to do 100 things to stabilise the airline and will have to put in a lot of money," DIPAM secretary Tuhin Kanta Pandey said, confirming that many aircraft are grounded.
In the season of aviation action, Rakesh Jhunjhunwala-backed Akasa Air has secured the crucial no-objection certificate (NoC) from the civil aviation ministry. It expects to start operations next summer. The airline will now have to apply for the Directorate General of Civil Aviation for operations permit. Aviation sector has been in the limelight with the Tata Group winning the Air India bid last week.
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