Amazon provided mere "lip service" and failed to provide any help to the debt-laden Future Group as the retail major suffered massive setback amid the COVID-induced lockdown and faced possible insolvency or debt restructuring, Future Group's promoters said in a letter to the e-commerce giant. This is the first time Future Group promoters have written to Amazon after the parties were embroiled in a legal battle over the sale of Future's retail assets to Reliance Industries. The letter from the promoters, including Kishore Biyani, was written on December 31. It alleged that Amazon's actions "lacked good faith" during the March to August period, when the group's retail business was severely hit by the lockdown.
On 60th Independence Day, it is bonanza time for telecom subscribers with operators rolling out a range of services.
The Department of Telecommunications is considering a proposal to allocate spectrum, the radio frequencies that enable wireless communications, for third-generation or 3G services to state-owned Bharat Sanchar Nigam Ltd and Mahanagar Telephone Nigam Ltd ahead of other operators. The move is expected to frustrate private players since this will give BSNL and MTNL a head-start in rolling out high-value 3G services that offer video calls, music downloads and games.
The proposals, approved by Finance Minister P Chidambaram on the recommendation of Foreign Investment Promotion Board, also included the offer from cement manufacturer Lafarge India for merger of Lafarge India Holding Pvt Ltd with Lafarge India Pvt Ltd, according to the finance ministry. The Lafarge's proposal was cleared as per the order of Bombay high court, a finance ministry statement said.
However, operators said the chief beneficiary would be the state-owned Bharat Sanchar Nigam Ltd and Mahanagar Telephone Nigam Ltd, which have already been given the spectrum for 3G services, as well as Reliance Communications, which is still to roll out its 2G GSM network.
HBL Global Pvt Ltd, a direct sales organisation, is looking for sales executives and assistant sales managers to distribute HDFC Bank's financial products and services.
Earlier, SC had given two weeks to prove Chidambaram deliberately granted FIPB clearance in 2006
Anil Ambani group company Reliance Communication Ventures Ltd on Friday decided to offer stake worth up to Rs 4500 crore (Rs 45 billion) to international financial and strategic investors.
Union minister Ram Vilas Paswan appealed to people to boycott products from China and also directed officials of his ministry not to procure any Chinese products for day-to-day office use while his ministerial colleague Ramdas Athawale said all restaurants and hotels that sell Chinese food in India should be closed down.
Macleods Pharmaceutical Ltd is recruiting Regional Sales Managers, Area Managers and Medical Representatives.
What explains India's love affair with SUVs? They are not exactly "value for money" -- the watchword for brands across segments -- nor always practical. Is it for the badge value? Or the butch imagery associated with SUVs? Maybe both, says Alokananda Chakraborty.
Anil Ambani on Wednesday announced formation of two new companies, Global Fuel Management Services and Reliance Communication Ventures Ltd, under the Anil Dhirubhai Ambani Enterprises umbrella.
According to an internal communication signed by KSL's company secretary, a copy of which is available with Business Standard, the changes will come into effect from June 1.
There was no word on whether or when Patel would be talking to the media about his priorities and plan of action as head of Mint Street
IMD is preparing a concept paper on narrowing its grid resolution from 22 sq km to 10 sq km.
STAR News to be ABP News as brand association ends
Xavier Institute of Communications, Mumbai, and RadioActive Pvt Ltd invites applications for their four-month, part time Radio Broadcast Training courses.
The empowered group of ministers (EGoM) on telecom headed by Finance Minister P Chidambaram on Monday decided to impose a one-time fee on incumbent operators prospectively for spectrum beyond 4.4 MHz in GSM and 2.5 MHz in CDMA.
The company, in a BSE filing, said "the matter was resolved amicably through mutual dialogues and the matter has also been withdrawn by them from the conciliation officer, Mohali."
The telecom industry is moving towards a five-plus one model.
The senior Congress leader's role has come under the scanner of investigating agencies in the Rs 3,500-crore Aircel-Maxis deal and the INX Media case involving Rs 305 crore.
Be a broker of capabilities; know where you can get help.
Following the order, the Peace and Harmony Committee of the Delhi Assembly deferred its proceedings, and said it would notify the further course of action and the next date of sitting in due course of time.
Assets include Kalanithi Maran's shares worth Rs 139 cr in Sun Direct.
Murdoch may re-enter space after non-compete period lapses, ABP to control three news channels of MCCS
Anil Ambani-controlled Reliance Natural Resources Ltd and Reliance Communication Ventures Ltd on Friday said they have got shareholders'
VIL pegs dues at Rs 21,533 cr, less than half of DoT estimate. During a meeting with Vodafone Group CEO Nick Read, Telecom Minister Ravi Shankar Prasad made it clear that the government is against a monopoly in the telecom sector, and wants Vodafone Idea to survive and remain invested in India.
Telecommunication services provider Videsh Sanchar Nigam Ltd and global microprocessor manufacturer Advanced Micro Devices on Thursday launched personal Internet communicator, a consumer device that offers managed Internet access to end-users.
Taking forward the promised consolidation of its telecom businesses, the board of Anil Ambani-controlled Reliance Communications Ventures Ltd would meet in Mumbai on Sunday to consider merger of Reliance Infocomm with itself.
The government has cleared 19 foreign investment proposals, including that of Walt Disney Company and Reckitt Benckiser (India), entailing total investment of Rs 2,326.72 crore (Rs 23.26 billion).
Videsh Sanchar Nigam Ltd has forged a strategic alliance with Microsoft Corporation India Pvt Ltd for venturing into the web conferencing market.
Travel Corporation India Ltd is hiring Executives and Senior Executives.
Customer care executives/telemarketing executives and collection executives needed for Allserve Systems (India) Ltd.
It was a quiet reopening with few people venturing warily to watch a mix of regional, English and Hindi reruns such as "Chhichhore", "Thappad", "Tanhaji" and "The Spy".
Bharat Sanchar Nigam Ltd will foot the entire bill of a Rs 1,000-crore (Rs 10-billion) project to release 45 Mhz of spectrum from defence to civilian use, after providing the armed forces alternative equipment for their communication needs.
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