With average capacity utilisation now touching 76 per cent, Indian companies are going back to the drawing board to add capacity but the plans to build new factories and plants are still some months away.
The company plans to hire 1,000 people every month in India and across United States, Philippines, Costa Rica and Africa where it currently has operations. US President Barack Obama had last month announced end to years of tax incentives to those US companies, which create jobs overseas in places like Bangalore.
Existing units stay operational; those approved may not be notified, land could be used for other purposes
Operators Bharat Sanchar Nigam Ltd, Bharti Airtel, Vodafone-Essar, Aircel, Mahanagar Telephone Nigam Ltd and Idea Cellular might have to fork out over Rs 11,200 crore for having spectrum beyond 6.2 MHz, if the government accepts the Telecom Regulatory Authority of India (Trai) recommendations.
Trade sanctions on Russia by Europe and the US offer an opportunity for India, but the devaluation of the rouble may play spoilsport
Mangalore Refinery and Petrochemicals Ltd (MRPL) will double offtake of crude oil from Cairn India's Rajasthan fields to 0.4 million tons this fiscal.
ArcelorMittal, Anglo Australian major Rio Tinto, Hyderabad-based GVK Power & Infrastructure, Essar Mineral Resources and JSW Steel are among 10 prominent corporations in a shortlist to develop 18 abandoned coal mines owned by state-owned Coal India Ltd and its eight subsidiaries.
Loop Telecom has been looking for a strategic investor for some time now and people close to the development said the telecom operator was willing to sell up to 45 per cent stake in the firm.
In a grand ceremony with overtones of a United States presidential inauguration, heads of state and government, India Inc honchos, opposition leaders, Bharatiya Janata Party members and showbiz stars rubbed shoulders as they watched President Ram Nath Kovind administer the oath of office to India's 58 new ministers.
Flat steel producers -- SAIL, Tata Steel, Essar, Bhushan Steel and JSW -- have increased prices up to Rs 2,000 a tonne on the back of rising demand.
The bid price for 3G spectrum continues to rise as it touched Rs 10,749 crore (Rs 107.49 billion) for pan-India operations on the 21st day of auction, assuring the government of Rs 43,372 crore (Rs 433.72 billion) in terms of revenue.
The calculation excludes cross-holding of listed group cos in each other.
The Ministry of Corporate Affairs has asked the Department of Telecommunications to reconsider its decision to issue Mumbai-based Loop Telecom an all-India mobile services licence, suggesting the company had links with Essar Group that violate restrictions on telecom cross-holdings by groups.
The petitioner said the companies were increasing the prices just to earn huge profit. Companies like Bharti Airtel had posted an annual profit of more than 90 per cent, the NGO said.
The FIPB referred the matter to the law ministry today.
GSM operators added 8.89 million subscribers in June, taking the total number of subscribers using the technology to 315.8 million.
Netcore offers the service 'MyToday' to 3.8 million mobile phone users in the country. Jain was the founder of IndiaWorld Communications, a small start-up, which was acquired in 1999 by IT major Sify Technologies for around Rs 500 crore (Rs 5 billion).
Indian companies, led by the Tata group, Essar and HCL Technologies, among others, have created more than 30,000 jobs and made large investments in the United States, a joint report of the Federation of Indian Chambers of Commerce and Industry and the US India Business Council said.
The XLRI School of Management, Jamshedpur, invites corporates, entrepreneurs, professionals, MBA students and undergraduate students to attend its annual festival, Ensemble 2007.
The operators are willing to accept auction of second generation spectrum beyond what has been contracted. According to them, they are allowed to have spectrum up to 10 Mhz.
Indian corporates have raised around $11.9 billion through overseas borrowing in the first five months of 2007-08, according to the Reserve Bank of India (RBI) data on external commercial borrowings (ECB).
Slowdown and liquidity squeeze by RBI have put India's top 10 indebted firms in a tight spot. But they have a few options.
Members of COAI, including Bharti Airtel, Vodafone-Essar, Idea Cellular and others met in New Delhi and decided to go ahead with filing of the affidavit in TDSAT against the Telecom Engineering Centre's report. COAI has also questioned the government's move to allocate spectrum to two telecom PSUs -- BSNL and MTNL -- saying they have been given frequency out of turn as many other players have been waiting to get spectrum for months and even years now.
The court said a 'scam was created when there was none'.
The government, however, amended the tax laws with retrospective effect to undo the Supreme Court judgement and claim taxes.
Prayas Jain has been arrested for allegedly buying secret documents.
In April 2013, CBI had first told the Court there were "some difficulties" in the probe after it went abroad.
The companies are looking at tapping solar power, wind energy and bio-fuels, including fish and vegetable oil, to run base transceiver systems in areas with poor power supply.
R C Bhargava, Kiran Mazumdar-Shaw & Dinesh K Sarraf are other members of the business delegation
GSM operators (excluding Reliance Telecom) in the country added 6.3 million subscribers in August, taking the total number of users to 225.6 million. In July, the total GSM subscriber base in the country was 219.30 million.
The department of telecom (DoT) on Friday announced a set of rules for granting telecom licences and allocating spectrum that is likely to impact GSM-technology service providers like Bharti Airtel and Vodafone Essar, among others.
The Telecom Regulatory Authority of India (Trai) has directed Vodafone Essar Mobile Services to refund value-added service (VAS) charges that were levied without "explicit consent". However, the regulator did not specify the amount the GSM major has to refund to the consumers.
Concerto Software Inc, a contact centre solutions company with a sizeable business in India, has acquired CentreForce Technologies to expand its offerings.
Telecom watchdog sought the regulator's intervention on the price hike by Bharti Airtel, Vodafone Essar and Idea and alleged that the three telcos have formed a cartel and increased local call charges by 20 per cent.
Tatas, Essar, Reliance Energy and L&T are among the dozen companies in race to build India's first fully independent private power transmission lines in Gujarat and Maharashtra at an estimated investment of Rs 1,500 crore (Rs 15 billion).
Those involved in the discussions say the guidelines for selection of bidders in insolvency cases need to be transparent, otherwise anyone who loses out could take legal recourse, leading to wastage of time and derailing the whole process.
RBI Governor Shaktikanta Das said the central bank saw economic growth slowdown in February, prompting it to cut rates ahead of the curve and wondered why markets were surprised with the decision to pause rate reduction. Noting that there is a need for an "informed and objective discussion" on the country's economy, Das said the RBI would do "whatever is necessary" to address growth slowdown, spikes in inflation as well to ensure good health of banks and non-bank lenders. The apex bank went for five consecutive rate cuts starting in February this year, making it a cumulative reduction of 1.35 per cent.
India Inc is looking at the public sector to steer its ambitions, as former PSU heads are taken on board to lead the private sector.
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