This single amendment, unfortunately, overshadows much of the Budget's promise, explains Harsh Roongta.
The $22.8 billion CK Hutchison ports deal intensifies geopolitical tensions between the US and China. Chinese media has already called it 'a betrayal of all Chinese people'. Shyam G Menon explains how the proposed sale will reshapes global trade infrastructure.
Sources close to the development indicated that Khawaja's decision stems from SEN's controversial dismissal of Lalor earlier this year, a move that has continued to raise eyebrows within the cricketing community.
Trump's sweeping tariffs and penalties on China-built ships have turned global shipping into the front line of economic war, observes Shyam G Menon.
Usman Khawaja has condemned a radio station's decision to drop cricket journalist Peter Lalor from its coverage of the Sri Lanka Test series over social media posts related to the Israeli-Palestinian conflict.
Mobile operator Hutchison Telecom, taken over by global giant Vodafone, has doubled its customer base while earnings and revenues swelled over between 50-55 per cent last year.
The acquisition will provide significant enhancement of Tech Mahindra's expertise in the customer management space and will be a key component of strategic plans going forward.
The spat between Essar and Hutchison for the acquisition of BPL (Mumbai) circle is far from over with the Indian corporate maintaining that the Department of Telecom approval for acquisition of BPL shares is yet to come.
Nokia, the world's largest mobile phone maker, has signed an agreement with Hutchison India for supplying GSM equipment to its nine of the 13 circles.
The Foreign Investment Promotion Board on Friday cleared 68 per cent foreign shareholding in cellular company Hutchison Essar, including the 10 per cent indirect stake held by Egyptian telecom operator Orascom.
the Company Affairs Ministry has come out in support of Essar by asking FIPB to change guidelines that allow greater say to the Indian partner in the consultative process.
Amid a government scrutiny into the alleged breach of FDI norms by Hutchison Telecom International, the Hong Kong-based firm on Monday asserted its Indian mobile venture Hutch Essar Ltd (HEL) did not violate any regulations.
Hutchison Telecom is confident of reaching two million customers by December 2002, according Hutchison Telecom East Ltd Managing Director Asim Ghosh.
Hutchison Whampoa Ltd, expanding its footprint in India's fast-growing mobile telecoms sector, said on Tuesday its Hutchison Essar joint venture had agreed to buy a cellular licence in Punjab.
No hybrid name, exercise to begin this week.
Hong Kong-based telecom major Hutchison Whampoa on Friday offered its manufacturing facilities for government inspection.
Maintaining that no tax liability arises from its $11 billion buyout deal with Hutchison in 2007, UK-based telecom major Vodafone today said it would continue to "vigorously" pursue the case in the Indian court.
Bombay High Court had earlier dismissed a petition filed by Vodafone and ruled that the tax office had jurisdiction to tax its 2007 deal.
The Lucknow golfer, who won the Hero Honda Open West in Pune earlier this year, closed the 54-hole tournament with a final round of one-under 69 for a tally of nine-under 201.
Indian family-run business houses have in recent years seen ugly public spats between owners over control. But metals-to-ports conglomerate Essar's Ruia family seems to be an exception. Three generations of the Ruia family - founder brother Shashi and Ravi Ruia, their children and grandchildren - continue to live under one roof and jointly run the business empire.
In August 2021, Nick Read, chief executive of Vodafone Plc at the time, did not mince his words while speaking about the India business in an earnings call. Replying to an analyst's question on Vodafone Idea, a venture with the Aditya Birla Group that had piled on huge debts and worrisome losses, Read described it as a highly stressed situation that "they (Vodafone Idea) are trying to navigate... "We, as a group, try to provide them as much practical support as we can, but I want to make it very clear, we are not putting any additional equity into India.''
Cellular phone service provider Huchison Essar on Thursday said the company will soon sport a brand new look and also enter Mumbai, the country's business capital Mumbai.
The much-talked-about sale of Ambuja Cement and ACC by Holcim Group will see the single-biggest outflow of foreign capital from the country if the two cement firms are acquired by Indian investors. The deal, valued at nearly $10.35 billion, will put in the shade Cairn Energy Plc's exit from India in 2010, when it sold Cairn India to Vedanta Group for $4.48 billion. According to various reports, big business groups such as AV Birla, JSW Group, and Adani Group are in the fray to acquire Holcim's assets in India.
While smart boys like the Ruias of Essar, Ajay Piramal, Max India promoter Analjit Singh laughed all the way to the bank, the Tatas, Anil Ambani, Malaysian tycoon T Ananda Krishna of Maxis (which invested in Aircel), Sistema, and Norway's Telenor burnt their fingers, notes Surajeet Das Gupta.
Ariana Kukors, who represented the United States in the 2012 Olympic Games, said Sean Hutchison, then a coach for USA Swimming's national team, began "grooming" her for a sexual relationship when she was 13.
British telecom giant Vodafone Group plc on Friday won an arbitration against the Indian government over a demand for Rs 22,100 crore in taxes using retrospective legislation.
Cash-strapped telco Vodafone Idea's proposal for investment of up to Rs 15,000 crore through foreign direct investment (FDI) has been approved by the Union government, according to officials. A top-level group, comprising representatives from the ministries of home affairs, external affairs, finance and commerce and industry, took the decision. The nod, which is an enabling provision, would help the financially-stressed company raise funds to pay up some of its dues linked to adjusted gross revenue (AGR), reduce debts and use the money for operational expenses.
The chairman of the Essel Group says he has settled 91.2 per cent of the estimated Rs 11,000 crore debt on the group's books.
The Department of Telecommunications (DoT) has initiated discussions with banks to address financial stress in the telecom sector, particularly Vodafone Idea Ltd (VIL) that urgently requires fund infusion to stay afloat. There was a meeting of DOT officials and senior bankers on Friday on the issue of Vodafone, sources said, adding that banks have been asked to look for a solution within the prudential guidelines. According to sources, senior officials from the country's biggest lenders State Bank of India and Bank of Baroda were also present among others in the meeting. More such meetings are expected to take place in the coming days, they said.
India has challenged in a Singapore court a verdict of an international arbitration tribunal that overturned its demand for Rs 22,100 crore in back taxes from Vodafone Group Plc, sources said on Thursday. An international arbitration court had on September 25 rejected tax authorities' demand for Rs 22,100 crore in back taxes and penalties relating to the British telecom giant's 2007 acquisition of an Indian operator. Two sources privy to the development said India had 90 days to file an appeal against the tribunal award, and the same was done in a Singapore court earlier this week.
AG is of the view that there is no point in dragging the matter further when it has already been "struck down" by one international forum, and also by the top Indian court.
Hutchison Essar is an Indian Company, the controlling interest of Hutchison Essar is held by an SPV of Cayman Island (CGP Investments Holding Ltd). CGP is owned by Hutchison Telecommunications International Ltd (HTIL), Hong Kong.
The first notice in the transaction relating to the sale of 67 per cent stake of Hutchison Essar Ltd was issued on March 15, 2007, under section 133(6) of the Income Tax Act.
Rival bidders Vodafone and Reliance Communications are studying the possibility of taking an indirect route to acquire control of Hutchison Essar to skirt the right of first refusal claimed by the Essar group.
The Ruias of Essar have informed merchant bankers that they have 'veto powers' to prevent any buyer of Hutchison Whampoa's 67 per cent stake in Hutchison-Essar from using its own brand name.
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