The Hindi news channels have recorded a four-fold jump in their ratings for November 27, beating even those recorded by the English news channels, as millions of anxious viewers remained glued on to their television sets watching every moment of the real-time gunbattle taking place in south Mumbai.
The government and Reserve Bank of India are working on opening a massive Rs 75,000 crore refinance window to provide concessional funds for infrastructure, housing and small and medium enterprises by partly leveraging the country's foreign exchange reserves.
Unitech Ltd, the country's second largest real estate firm, has decided to sell its 200-room budget hotel Courtyard by Marriott in Gurgaon ahead of its inauguration in January 2009.
If Bollywood's three forthcoming films starring Aamir Khan, Salman Khan and Shah Rukh Khan in Ghajini, Yuvvraaj, and Rab Ne Bana Di Jodi, respectively, become commercially hit then 2008 may prove to be a good year for the Hindi film industry, especially at the time of the economic slowdown.
The FWICE says its 35,000 members will resume work immediately if their pay is raised. Of course, there are several other related demands such as a timebound payment of the shift wage, restricting shifts to 8 hours rather than the current 10-12 hours among others, says a senior FWICE executive. Meanwhile, channels are showing re-runs of old episodes. This has resulted in a drop of upto 55 per cent in their prime time viewership ratings, affecting ad revenue.
AS Bindra, the father of ace shooter and Olympic gold medallist Abhinav Bindra, has defaulted to banks and financial institutions. The money claimed from Bindra is over Rs 75 crore (Rs 750 million). He had borrowed it in the 1990s to set up a meat processing plant under Punjab Meats Ltd.
At least 10 firms, including a few media houses and some of the leading private equity funds, are said to be in the race to acquire a majority stake in Hyderabad's Deccan Chargers, the Indian Premier League cricket team currently owned by the Deccan Chronicle group.
The price has been cut 39 per cent to Rs 555.85 from Rs 908 per share originally after its request to redeem the bonds ahead of maturity was rejected by the Reserve Bank of India.
This means once a DTH consumer buys a set-top box, he will be able to access the service of any service provider with technical changes in the box. The ministry of information and broadcasting has asked the Bureau of Indian Standards to draft norms for advanced DTH set-top box technology, including related to interoperability of the boxes.
Reliance Anil Dhirubhai Ambani Group (R-ADAG) is all set to begin a price war in the direct-to-home market by offering its connection about 43 per cent lower than any of the existing players. Big TV will offer its DTH service for Rs 1,490, while the lowest-priced connection is currently being offered by Dish TV at Rs 2,190, followed by Tata Sky at Rs 2,400.
All those who joined Prasar Bharati before October 5, 2007, will be treated as government employees on "deemed deputation". At present, the status of these employees is not clear as they are treated as on "deemed deputation" and don't get the benefits of a government job like regular promotions, government housing and bonuses.
Encouraged by the success of direct-to-home services in India, Pakistan Television Corporation Ltd, that country's national broadcaster, has invited national and international firms to help it set up its own DTH service with 100 channels. Once operational, this will be the first DTH service in Pakistan.
Trai has submitted 26 recommendations to the government and released 30 consultation papers so far this year, up from seven and 20, respectively, in 2007. Few of its recommendations are actually accepted by the govt.
Falling equity markets have trapped major private equity investors such as Warburg Pincus, Blackstone Group, Carlyle, Apax Partners, Chrys Capital and Citigroup.
Indian companies that raised large sums of foreign funds to finance growth and acquisition plans during the bull run in the stock markets are in a Catch 22 situation. The conversion price of their foreign currency convertible bonds is several times higher than their current market prices.
HITS is a new cable-distribution platform that is similar to the direct-to-home service. It allows distribution of digital-quality cable channels via satellite to cable operators at one go. For consumers, it means access to quality cable channels via a set-top box at reduced monthly rates, while for the cable industry, it means faster and cost-effective digitalisation.
Thomson holds 10 per cent stake in Videocon Industries through global depository receipts listed on the Luxembourg Stock Exchange. Thomson had acquired 13.5 per cent in Videocon in 2005 for Rs 1,250 crore (Rs 12.5 billion) of which 10 per cent was locked in for three years.
The Rs 6,700-crore (Rs 67 billion) deal likely in a fortnight. News of the likely transaction first broke a few weeks ago. Investment banking sources now suggest that the deal will be announced in a fortnight, if not earlier. A Tata Teleservices spokesperson refused to comment, saying: "As a policy in the Tata group, we do not comment on speculative queries."
Estimates and bid amounts available in the public domain show that ESPN Star Sports is now sitting on nearly 1,400 days of international cricket matches over the next ten years for which it has paid nearly Rs 9,380 crore. In other words, the broadcaster will offer viewers roughly 140 days of cricket every year. And it has acquired each match-day at an average cost of Rs 7 crore, which the industry says is cost-effective.
According to sources, the proposal regarding 'grant of approval to the transfer of shares by the FM radio company for the purpose of demerging the radio business has been submitted to the Cabinet for its consideration. Over a dozen private FM radio operators, including Reliance ADAG's Big FM, will stand to benefit from this move, experts say.
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