Despite its run-in with the Ministry of Corporate Affairs, Mumbai-based GSM telecom service provider Loop Telecom will launch its services in the Tamil Nadu and Orissa circles by next week.
Days after NTT DoCoMo of Japan announced that it will buy 26 per cent in Tata Teleservices for $2.7 billion, NRI businessman C Sivasankaran has decided to put on the block his eight per cent stake in the company.
Spice Communications, owned by billionaire B K Modi, may consider buying out Telekom Malaysia, its partner in the phone company, if the latter fails to come up with a stake-raising plan by June, a top company official said. Telekom Malaysia, South Asia's second largest telecommunications company, owns 39.2 per cent in the Indian company and was keen to increase it to 74 per cent, the upper limit for foreign direct investments in the Indian telecom sector.
The company expects its optical media business -- which currently contributes almost 100 per cent of its revenues -- to comprise only a third of its revenues three to five years down the line. Its subsidiaries -- Moser Baer Home Entertainment and Moser Baer Photo Voltaic (MBPV) -- on the other hand, are expected to contribute a major chunk of its revenues by 2011-12.
The Blue Card plan, if passed, would allow suitably qualified people and their families to live and work within the EU. The EU says it needs 20 million skilled workers over the next two decades and is very short of expertise in engineering and computer technology.
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