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
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.
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
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.
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.
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
Halving the productivity-linked incentive will make its salary levels unattractive and put a heavier burden on junior staffers.
Eases regulatory hurdles for Bharti-MTN deal.
New Delhi, 7 August A strike call and its withdrawal proved an embarrassment for a former senior aviation bureaucrat.
Airline losses have more to do with their business models than the price of aviation fuel.
MTNL will be one of the few big telecom companies in the world to allow competitors to offer their brand on its network.
Airline asks for Rs 7,000 cr; may get half subject to conditions.
The government's financial restructuring plan for loss-making Air India may include a staggered infusion of equity, entailing an initial infusion of around Rs 1,300 crore (Rs 13 billion), going up to around Rs 2,000 crore (Rs 20 billion), depending on the company's need.
The guidelines also point out that it is not advisable to form 50-50 JVs, since such a company is regarded as a private company and functions as such, even though the PSU is an equal shareholder. In many cases these entities are not accountable to Parliament or the state assembly.
A bitter battle between the finance ministry and the Department of Telecommunications over their jurisdiction might force the latter to withdraw its decision to waive licence fees for fixed-line service operators in rural areas.
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