Since August 2013, FIPB has approved two FDI proposals in the telecom sector.
The final Test in Brisbane will start on January 15. The series is locked 1-1 after the third Test ended in a draw.
The rights issue price has been set at Rs 1,257 a share, a discount of nearly 14 per cent to the last closing price of Rs 1,459. The company had set May 14 as the record date for the rights issue, which meant shareholders as on that day would be eligible to apply. Shareholders will be able to apply for one share for every 15 shares held.
The retrospective tax controversy was highlighted by Vodafone, but Cairn Plc's continuing problems point to the impact this law has had on FDI in India's oil and gas sector.
The company, which had made voluntary disclosures about the bribery incident to the US authorities, also said with this resolution, there was no pending investigations against Cognizant.
Says, Jio unlikely to gain 2% revenue market share in 2017
Total wireless subscribers increased from 1.1 billion, in January to 1.2 billion in February, thereby registering a monthly growth rate of 0.72 per cent.
Telecom industry body COAI has approached the information technology ministry for removal of fake and misleading messages from social media platforms like Facebook, Whatsapp and Twitter linking spread of COVID-19 to 5G technology. The Cellular Operators Association of India (COAI), whose members include Reliance Jio, Bharti Airtel and Vodafone Idea, said the claims linking 5G with coronavirus are baseless as 5G networks have not yet been installed in the country and even 5G trials are yet to be started by the telecom operators. In a letter dated May 15 to MeitY additional secretary Rajendra Kumar, COAI director general S P Kochhar said: "To safeguard the national interest, we request your good office to kindly instruct all the social media platforms such as Facebook, Watsapp, Twitter, etc, to remove all such posts and misleading campaigns from their platforms on an urgent basis." People have been sharing audio and video messages on social media platforms in which 5G towers are being blamed for rise in casualties across the country even though none of the companies have installed 5G technology anywhere in India.
Cairn files notice against India in $1.6 billion tax dispute.
New Delhi is also set to top its target of raising at least $13 billion.
'Appellants may not lap up the scheme because, first, to do so would amount to admission of guilt, and second, they may have smelled victory before higher appellate forums,' notes S Murlidharan.
Mukesh Ambani's Reliance Jio, however, continued to add wireless subscribers
With the objective of making the country a manufacturing hub for domestic and foreign companies, Prime Minister Narendra Modi is launching the NDA government's "Make in India" campaign today.
The network has been built by six telcos to handle high bandwidth demands of emerging technologies and applications.
As India's largest drugmaker unveiled a deal worth up to $4.6bn to sell control to Daiichi Sankyo of Japan, the disbelief at the press conference was palpable.
Tata DOCOMO has announced its intention to launch 3G services around Diwali. Vodafone Essar plans to roll out 3G services by the first quarter of next year.
'How can you explain the necessity of selling an institution that has been delivering regular returns to the government, that has never asked for any capital from the government, that has invested Rs 38 lakh crores in the Indian economy and that owns 4 per cent of the market capitalisation in India?'
Historically, public sector units were conceived of under the assumption that they will control the 'commanding heights' of the Indian economy, which were necessary for rapid industrial growth but where private investment was unwilling to enter.
Apart from digital advertising revenue, both companies want to reach out to the 'next billion' Indian customers. After all, around half of the 1.3 billion population is still not on the net and this represents a challenge as well as an opportunity.
The Cabinet approved giving Bharti Airtel, Vodafone Idea Ltd and Reliance Jio an option to avail of a two-year moratorium on payments they were supposed to make in yearly installments for the spectrum bought in auctions.
Mukesh Ambani-led Reliance Jio has introduced a 20-per cent cashback offer on select prepaid plans, intensifying competition in the Indian telecommunications (telecom) market. Jio is the largest telecom service provider in India, with 443 million subscribers as of July. Jio's cashback offer will drive cross-selling across Reliance's various retail businesses, but the move is also being seen by some analysts as a signal that tariff hikes may not be around the corner just yet.
According to JP Morgan, it seems that Jio is willing to go for the jugular in chasing market share if this hurts some of its standing rivals like Vodafone and Idea to a point from where they find it difficult to fight back.
The government is engaged in talks with telecom firms for a launch of commercial 5G services in some cities by Independence Day and has assured them that spectrum auction will take place in April-May, providing them a three to four-month window for the rollout. A top executive of a leading telecom gear company said the deadline was feasible in some cases. "It can be achieved in some cities as it will take us 4-6 weeks to deploy a network, once the equipment or components have reached India.
Bidding for the sixth round of spectrum auction for radiowaves worth Rs 3.92 lakh crore will start from March 1, according to a notice issued by the Department of Telecom on Wednesday. The long-awaited spectrum auction is being held after a gap of four years and over two years after the Telecom Regulatory Authority of India (Trai) calculated and recommended base price for the radiowaves. The DoT has fixed January 12 for the pre-bid conference and January 28 as the last date for seeking clarification to the notice.
With slower than expected growth in smartphone penetration, operators and OEMs are joining hands to provide affordable mobile devices with attractive offers.
It will be available in 42 languages, including six Indian languages - Hindi, Bengali, Tamil, Kannada, Gujarati and Marathi.
According to a Deutsche Bank report, the Idea-Vodafone combine will have to pay a 30 per cent lower annual installment on spectrum due to the longer duration of the payment tenure.
'We are targeting the 5G tender around January-March 2023.'
Over the past one-and-half years, the number of stocks trading below their respective face value has increased 29 per cent after a sharp correction in stocks of small-cap companies.
India's tax authorities began investigating Cadbury in 2011.
During the visit organised by the UK India Business Council and UK Trade and Investment, 129 delegates, including business leaders Vittorio Colao, CEO, Vodafone; Lord Meghnad Desai, noted NRI economist; Terry Hill, chairman, Arup; Evelyn de Rothschild and Gerry Grimstone of Standard Life will visit New Delhi, Pune and Mumbai.
Banks have Rs 10 trillion in stressed assets - Rs 7.8 trillion of bad loans and Rs 2.2 trillion of restructured ones.
Amid economic uncertainties owing to the pandemic, the government's key revenue agency, the Income Tax Department, has close to 400 vacancies at commissioner level and above, affecting its functioning. Seventy-three of the 91 chief commissioner positions are lying vacant, with some for more than a year. Chief commissioner is the second-highest post in the department, below principal chief commissioner, which is at par with secretary in a ministry.
Bharti Airtel chairman Sunil Mittal on Wednesday said the regulatory regime needs to be simple to avoid fresh litigations in the telecom sector, asserting that collaboration among competing players, lower duties and reduction in spectrum pricing will help unleash the full potential of the industry. The telecom czar noted that the "temperature" of the industry needs to be lowered when it comes to litigations and appealed to the government to look into the matter. The timely reforms that were announced brought in cheer and heightened comfort for all the active players in the sector, Mittal said and urged the industry counterparts to focus on building the next wave of connectivity in the run-up to 5G and beyond.
Cabinet will take a decision on a conciliation offer from Vodafone.
A senior official in the central labour commissioner's office said the efforts of the government were to resolve the cases amicably and not to press for legal action against employers. "Everyone is going through tough times. We could initiate legal action if we want but that's not the idea. We want to address the issues amicably," the official said.
It reported adding 698,3146 subscribers in September, the lowest since it added 6.1 million in November 2017.
CEOs expect to finish the ongoing March quarter with positive growth as the corporates get back to work in full strength.
Telecom operator Vodafone has been the top gainer of customers through mobile number portability facility while Reliance Communications is the biggest loser.
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