Low-cost carrier SpiceJet Airlines, promoted by a group of investors led by the Kansagra family and Delhi-based Ajay Singh, is working on a plan to start international operations next year, making it the third private Indian carrier after Jet Airways and Kingfisher to fly overseas.
BSNL, MTNL respond to Vavasi despite advice to the contrary
The Ministry of Information and Broadcasting is planning to put stringent entry-level restrictions on broadcasters launching new television channels. The move is to ensure only serious players enter the business and have effective utilisation of the limited bandwidth available for broadcasting.
About five new operators are ready to start operations by the end of this year, adding to the over eight incumbents slugging it out to grab a share in a mobile market that is expected to grow to 750 million subscribers by 2012 against over 450 million at present.
With no solution emerging in the legal battle between music companies and private FM radio operators over royalty rates, many of the 37 private FM radio companies have threatened to shut shop soon, restricting choices for over 200 million FM radio listeners to All India Radio channels.
Sports broadcaster ESPN India has managed to lure over a dozen advertisers for the Airtel Twenty20 Champions League, who could spend as much as Rs 270 crore (Rs 2.7 billion).
Essar group, which is buying out the Uganda and Congo assets of Warid Telecom -- a joint venture between the Abu Dhabi Group and Singtel and is present in Kenya, has also reportedly been sounded out by Zain shareholders. A company spokesperson, however, declined to comment on the issue.
Slow domestic growth, global ambitions will prompt deals similar to MTN, say analysts
After deliberations with various stakeholders, including broadcasters and cable operators, the information and broadcasting (I&B) ministry has decided to make the roll-out of CAS voluntary across the country, instead of being mandatory as originally planned.
Jet Airways expects to raise over Rs 1,000 crore by selling 2.5 acres of premium land it owns in the Bandra-Kurla area in Mumbai. The move will partly help the company to raise about $400 million (roughly Rs 2,000 crore) to cut its debt burden of Rs 15,885 crore.
Advertisers seek safeguards as low viewership of Indo-Pak tie shows the game's showpiece is losing sheen.
The Customised Connectivity Tracking tool can be installed in the catchment area of a cable network and track frequencies.
Backed by US-based Hollywood film company Lionsgate Production, Hong Kong-based Tiger Gate Entertainment is all set to launch two English movie channels called Thrill and KIX in the Rs 250-crore (Rs 2.5 billion) domestic English movies market on television. India has around 10 English movie channels with STAR Movies and HBO, the two leaders in terms of revenue and viewership.
The film generates about Rs 20 crore in first weekend at the box office.
Permission for dual listing would require full capital account convertibility and therefore changes in regulations under the Foreign Exchange Management Act.
The deal, which will be the largest in the global telecom space, will be subject to South African government approval.
The Indian Premier League is facing a rough pitch. With a little over six months to go for the third leg of the most successful cricket properties of recent times, with a brand value of $2 billion, IPL is facing hostile bouncers -- four to be precise -- that it is finding hard to negotiate.
Airline managements are divided on the likely impact of the settlement of the Jet Airways imbroglio.
The government has sought to put an end to the ambiguities in the implementation of Press Notes 2 and 4, which significantly relaxed foreign direct investment (FDI) guidelines, with the Commerce Ministry requesting the Reserve Bank of India (RBI) to make changes in the Foreign Exchange Management Act (FEMA) to operationalise the guidelines. The direction from the government follows a number of references and queries from investors.
Claim breach in procedure, demand probes; Reliance denies charge
