Telcos say tariffs could be cut by up to 20 per cent. While post-paid customers constitute only 5 per cent of the total customer base of 670 million, they make up over 15 per cent of revenues thanks to their relatively higher average revenue per user (Arpu).
Divide in management, board on appointments of brass.
A committee of secretaries will be meeting soon to consider a draft proposal, which suggests that decision-making on all policy issues pertaining to FDI be transferred from the Department of Industrial Policy & Promotion (DIPP) in the Ministry of Commerce to the Department of Economic Affairs (DEA) in the Ministry of Finance.
GE India is embarking on a major localisation drive under which 60-70 per cent of the products that it sells will be manufactured in the country in the next five years. At present, the localisation is about 10 to 20 per cent.
FIIs' stake in Naresh Goyal-owned Jet Airways stood at 7.10 per cent during the three months through September, compared to 6.38 per cent during the first quarter of this financial year.
State-owned National Aviation Company of India Ltd (Nacil), which runs Air India, has approached the government to raise $2.3 billion through external commercial borrowings (ECBs) as part of a plan to restructure its high-cost working capital debt.
Regulator wants the power to fine errant telecom companies.
Delhi-based Vayudoot was launched as a subsidiary of erstwhile Indian Airlines in January 1981 to serve the northeast region.
Air India Express, the international low-cost arm of National Aviation Company of India Ltd, has finalised a blueprint for the launch of cheap-fare domestic routes. The plan includes shifting base from Mumbai to Kochi, rebranding to Express India and improving the utilisation of its 21-strong fleet from 9 hours to 12.5 hours daily.
After Research In Motion (owners of BlackBerry), the home ministry will now turn the screws on Microsoft, Google, IBM and Oracle. These companies provide technology and services for the virtual private networks (VPNs) run by various operators in India. The government will ask them to conform to regulation that allows intelligence agencies to lawfully intercept data. Failure to do so could result in the termination of VPN services by operators using their technology.
If the Ministry of Civil Aviation has its way, the proposed regulatory authority for the sector will act as an arbitrator in case of disputes over airfare. The airlines, however, will be free to decide on ticket pricing.
National Aviation Company India Ltd, which runs Air India, is likely to receive government approval for its second equity infusion of Rs 1,200 crore (Rs 12 billion) by next week.
The National Aviation Company of India Ltd (Nacil) will be able to save more than 30 per cent on its interest payment per year, as the finance ministry recently agreed to furnish sovereign guarantees on loans raised by the company which runs Air India.
The Reserve Bank of India (RBI) has thrown a spanner in the works of a government proposal to liberalise the pricing guidelines of hybrid securities such as foreign direct investment (FDI)-compliant instruments.
Brazilian aircraft maker Embraer is betting big on the growing aviation markets in the smaller cities of India.
DDFS is a joint venture among Delhi International Airport Ltd, Indian Duty Free Services and Dublin-based Aer Rianta International.
It may hit Kingfisher, Paramount restructuring.
The finance ministry is arriving at a consensus to reject a proposal mooted in government to permit foreign direct investment (FDI) in multi-brand retailing.
ITC, which has a 14.98 per cent stake in EIH Ltd -- the company that runs the Oberoi chain of hotels -- is planning to subscribe to the upcoming EIH rights issue. This ends speculation that it might pull out after Reliance Industries Ltd picked up a stake in EIH.
The finance ministry has agreed to furnish sovereign guarantees on loans raised by National Aviation Company India Ltd, which flies under the Air India brand name. A top source in the ministry confirmed: "Yes, we will provide sovereign guarantee to Air India on its loans. After all, it is a company owned by the government."
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