While Airtel's financial performance started improving from third quarter of 2013-14, the the drop in the total remuneration of Mittal has been mainly because of Rs 75 lakh (Rs 7.5 million) reduction in performance-linked incentive, as per the latest Annual Report of the company.
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On May 24, 2012, Bharti Airtel and Qualcomm announced an agreement under which Bharti had acquired 49 per cent interest in Qualcomm AP's India entities with licences to offer 4G data services in four circles of Delhi, Mumbai, Haryana and Kerala.
Billionaire Gautam Adani's Group on Wednesday announced the acquisition of SoftBank Group Corp's renewable power business in India for a deal value of $3.5 billion (approximately Rs 25,500 crore), to become the world's largest solar company. In a statement, Adani Green Energy Ltd, the renewable energy unit of the port-to-energy conglomerate, said it has inked share purchase agreements to buy 100 per cent of SB Energy India from SoftBank and Bharti Group. Without giving deal details, the statement said the transaction values SB Energy India at an enterprise valuation of approximately $3.5 billion, it stated. The transaction marks the largest acquisition in the renewable energy sector in India.
Airtel has allocated 199,870,006 new equity shares at price of Rs 340 each share, representing 5 per cent equity stake in the company to QFE.
Within a year of Gopal Vittal becoming the joint MD and CEO of Bharti Airtel's India operations, the company has elevated him as the MD and CEO for Bharti Airtel's operations in India and South Asia.
The auction last year had seen a muted response on account of high spectrum cost.
Government think-tank body Niti Ayog CEO Amitabh Kant supported the industry demand and called for setting up of a single window clearance system for expeditious approval of projects. Start-ups and small medium enterprises requested the prime minister to provide support in low-cost capital at the virtual launch of space and satellite industry body Indian Space Association (ISpA).
Huawei came under a cloud after allegations that the firm's electronic and telecom devices helped China spy on US corporations and agencies.
Reliance Industries Chairman Mukesh Ambani on Monday said his company is open to joining hands with Bharti Airtel for improving telecom network for 4G services in Punjab.
Home minister heads several groups of ministers, including the one to decide the revival package for Bharat Sanchar Nigam and Mahanagar Telephone Nigam. His ministry also takes decisive calls on national security in relation to telecom operations as well as equipment and technology used in the industry.
Mittal's total remuneration dipped marginally by 2.52 per cent.
Former President A P J Abdul Kalam was among a large number of voters in several constituencies in Delhi who on Wednesday faced problems while exercising their franchise because of the malfunctioning of Electronic Voting Machines.
Apple, which is seeing declining sales elsewhere in the world, is betting big on India for growth as sales here saw an impressive 56 per cent growth in the January-March 2016 quarter.
Prime Minister Narendra Modi on Tuesday hosted British royal couple Prince William and Kate Middleton for lunch to the accompaniment of classical music.
Mittal said he discussed a plethora of issues with Commerce and Industry Minister Piyush Goyal and sought the government's support for faster clearances to streamline the group's investment plans.
Bharti Airtel Chairman Sunil Bharti Mittal said India has lost one of the finest political leaders and a legal luminary.
Telecom major Bharti Airtel on Wednesday reported a 29 per cent decline in consolidated net profit at Rs 512 crore (Rs 5.12 billion) for the quarter ended September 30, 2013, mainly on account of increase in finance cost and forex losses due to rupee depreciation.
This move gives Airtel and Chinese major immense benefits.
Telecom giant Bharti Airtel on Wednesday reported a 9.6 per cent fall in net profit at Rs 688.9 crore (Rs 6.88 billion) for the first quarter ended June 30, 2013.
India is today the second-largest telecom market in the world with over a billion customers and close to 600 million Internet users. New connections are available on the tap, calls are virtually free and it's hard to imagine anyone without a mobile phone today. Globally, there would be few parallels to this success story that truly democratised telephony and empowered a billion-plus people, observes Airtel's Sunil Bharti Mittal.
Airtel, Vodafone-Idea and other telecom operators may have to pay the government a whopping Rs 1.42 lakh crore following the Supreme Court order last week that sent shock waves through an industry already grappling with billions of dollars in debt and an intense tariff war to retain customers.
Battleground shifts to rural and small towns, where user base aspires to upgrade to smartphones.
With strong GDP growth, expanding base of start-ups and growing trend of new technologies like cloud in the country, the 21st century is Indian century, IBM chief Virginia Rometty said.
In Friday's market rally post the corporate tax cut, the country's top business promoters recouped more than two-thirds of the losses that they suffered in the post-Budget sell-off in equity markets.
Several high profile companies are burdened with losses, mounting debt and have a huge load of operational costs.
Consumer products like mobile phones and laptops may become cheaper as the overall taxes on goods are likely to come down
'To all the MBAs that burn the candle at both ends, travel half-a-million miles every year, and spend little or no quality time with their families, the rise to riches of Mr Bikhchandani and Mr Banga, should be true inspiration,' notes Sandeep Goyal.
Bharti Global is planning to put up more satellites and has set a stiff deadline to launch commercial Internet services by October in the UK, Alaska, northern Russia and northern Europe.
Spectrum auction on Thursday entered the 10th day of bidding and started off from Rs 61,091.83 crore (Rs 610.91 billion) in terms of value.
Homegrown chat application Hike messenger on Wednesday said it will offer free voice calls to its users over 2G, 3G and wi-fi services across the globe in over 200 countries.
Mukesh Ambani remains the country's wealthiest promoter as his stake in Reliance is now worth Rs 3.25 trillion!
Bharti Airtel customers can now avail its 4G data plans starting from Rs 450, down 31 per cent from Rs 650 earlier in Bengaluru, Kolkata, Pune and Chandigarh circles.
Supreme Court had on October 24 upheld government contention that non-core revenue in telecoms groups should be included in adjusted gross revenue. According to DoT's calculations, Bharti Airtel faces a liability of around Rs 42,000 crore after including licence fees and spectrum usage charges while Vodafone-Idea may have to pay about Rs 40,000 crore.
Corporate leaders said a stable government at the Centre will help boost infrastructure spend, address agricultural distress, and encouraging employment.
Polling was held on Sunday for 59 Lok Sabha seats in the sixth and penultimate phase of Lok Sabha polls. Elections are being held in 14 seats in Uttar Pradesh, 10 seats in Haryana, eights constituencies each in Bihar, Madhya Pradesh and West Bengal, seven seats in Delhi and four in Jharkhand. Take a look at the famous faces who exercised their democratic right.
Says spending $3 billion every year on networks alone
Getting an assurance from the Apple CEO on manufacturing in India will mean much to the NDA government.
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Business leaders met Manmohan Singh to discuss the problems facing the country.
The deal between Bharti group and Tata Teleservices is yet another example of how swiftly things can change in business.
Corporate India tempered its victory celebrations for the supposedly business-friendly Narendra Modi-led National Democratic Alliance's landslide electoral victory by highlighting the need for immediate steps to create jobs through inclusive economic growth.
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