Rise in euro against the dollar is benefitting exporters trading the currency. Traders book forward deals to benefit from bullish European currency.
In a major development, the Ministry of Communications and Information Technology has cleared applications of nine telecom aspirants and is close to issuing them Letters of Intent. This will be followed by issuance of universal access service licences and allocation of spectrum.
In a move that would result in the mellowing of the spectrum issue and enabling the new service providers to commence operations, the Department of Telecommunications (DoT) has begun identifying the quantity of unused spectrum across 23 circles in the country.
Wants CBDT to plug loophole in the system.
The Income Tax department has suggested an amendment for taxation of bad debt to the Central Board of Direct Taxes
DoT is asking the public to help to check illegal routing of international calls, which is causing the dept a loss of Rs 5000 cr.
Firming up its plans to rollout direct-to-home (DTH) television services, telecom firm Reliance Communications (RCom) has booked capacity on Malaysian satellite system, MEASAT-3. The deal size could not be confirmed, while it is understood that the deal is signed for around 15-20 years. RCom has booked four transponders, with an option to add four transponders after a year on MEASAT-3.
There is a growing number of celebrities who are regular bloggers and make it a point to chat with their fans logging on at a pre-decided time.
The Insurance Regulatory and Development Authority has clarified that only the premium collected for providing health cover in the case of unit-linked health insurance policies will be eligible for tax benefits.
Move targeted at companies with high promoter holdings.
On Tuesday, the 32-member Parliamentary Committee is understood to have met officials of the Securities and Exchange Board of India, Reserve Bank of India, stock exchanges, various brokers, Unit Trust of India, Life Insurance Corporation and State Bank of India. The committee is expected to meet officials of the finance ministry next week.
According to sources close to development, the paper proposes four new concepts for making the taxation of foreign companies in India and foreign transaction of Indian companies, especially overseas mergers and acquisitions, more transparent.
The Department of Telecommunications has mooted a proposal for increasing additional spectrum charges and has also suggested slashing of one-time fixed spectrum charges.
The Central Board of Direct Taxes has proposed that the sale of capital assets of a company operating in India, but registered overseas
The high mobile telephony penetration in India's major metros and cities is expected to lead to a dramatic churn in the space
Mobile call rates are declining in face of fierce competition. In this price war, PCOs are likely to be the first casualty.
Banks raising one-year deposits at 9.75% to meet MF, pension fund redemptions.
The Reserve Bank of India is not in favour of the government subscribing to State Bank of India's rights issue through bonds on grounds that it does not conform to good corporate governance.
While the extent of Iran's isolation was unclear, many blogs alleged that the cable cuts and outages in West Asia were a ploy by an intelligence agency to disrupt Iranian commerce, targeting an emerging petroleum exchange that the country was shortly hoping to roll out.
In the wake of recent submarine cable cuts that disrupted Internet and telephony services across the world, the Telecom Regulatory Authority of India (Trai) is looking at putting in place a mechanism to ensure immediate restoration of lines in case of such incidents in the future.
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