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BusinessToday.In
New Delhi, July 18, 2018
The long-pending merger of Idea Cellular and Vodafone India had received a go-ahead from the DoT on July 10. The department says the dues demanded are just fine, and both these companies need to pay up at the earliest.


BusinessToday.In
New Delhi, July 13, 2018
On July 9, the NCLT had dismissed all petitions filed by Mistry and his family-run firms after a four-month long hearing. The 368-page court order, interestingly, included an instance where Tata Motors missed out on a major order nearly three years back.


BusinessToday.In
New Delhi, July 13, 2018
Walmart has said that it will fulfil whatever is the regulatory requirement, according to an official aware of the development. The US retail behemoth reportedly added that it will get the tax implication of the deal examined.


BusinessToday.In
New Delhi, July 10, 2018
With the NCLT on Monday rejecting Cyrus Mistry's allegations of lapses in governance on part of the Tata Group in dealings with Aircel, Sivasankaran has reportedly bucked up and is planning a counter-attack.


Manu Kaushik
New Delhi, July 10, 2018
The demand by DoT is unjustifiable on two grounds. Firstly, the telcos have got stay orders from various high courts against the payment of OTSC to DoT. Since the telcos are still contesting the matter, the demand for spectrum charges is untenable.


BusinessToday.in
New Delhi, July 10, 2018
China agrees to cut tariffs on Indian cancer drugsChina said on Monday it had reached an agreement with India to reduce tariffs and increase imports of Indian medicines, particularly anti-cancer drugs. The decision was part of its efforts to broaden trade relations amid its on-going spat with the United States. Both India and China slashed import tariffs of a range of products starting July 1, following the fourth round of negotiations under the Asia Pacific Trade Agreement (APTA), which also includes Bangladesh, Laos, South Korea and Sri Lanka.Income Tax dept sells Cairn Energy shares in Vedanta for $216 millionCairn Energy said it would write down the value of its investment in Vedanta Ltd after Indian tax authorities sold $216 million worth of its shares in the Indian mining company to recover a part of Rs 10,247-crore demanded as retrospective tax. The UK company said it still holds about 3 per cent in Vedanta Ltd after the sale, while warning that it was possible that the Indian tax department might make further sales.Department of Telecom conditionally approves Idea-Vodafone merger dealThe Department of Telecom (DoT) gave its nod to the Vodafone India-Idea Cellular deal to form the biggest telecom entity in India, but with some riders. An official told PTI that DoT has cleared the Vodafone-Idea merger. They will have to meet conditions for final approval. Earlier, it was reported the DoT was looking to raise a fresh demand of around Rs 4,700 crore ahead of the merger deal between Vodafone India and Idea Cellular over one-time spectrum charges on Vodafone.Mark Zuckerberg overtakes Warren Buffet to emerge world's third-richest man with $81.6 bn net worthFacebook's stock has not only recovered from the hammering it took in the wake of the Cambridge Analytica privacy scandal earlier this year, but spiked 2.4 per cent to hit an all-time high on Friday. And in the bargain, it has propelled its co-founder and CEO Mark Zuckerberg into the Top 3 list of billionaires. He is now the world's third-richest man after Amazon's Jeff Bezos and Microsoft co-founder Bill Gates.Malaysia's IHH Healthcare Berhad outbids TPG-Manipal in the battle for Fortis: ReportIn its second round of bidding, cash-strapped Fortis Healthcare received only two binding bids, from Malaysia's IHH Healthcare Berhad and TPG-backed Manipal Health Enterprises Ltd. And the buzz is that the former has an edge over FHL's earliest suitor. According to Mint, IHH is likely to acquire control of India's second-largest private hospital chain with a binding offer for a stake of at least 51 per cent for Rs 4,700-5,400 crore.Yahoo Japan buys back $2 billion of shares in three-way deal with SoftBank, AltabaYahoo Japan Corp is buying back around $2 billion worth of its shares from SoftBank Group Corp as part of a three-way deal with its top shareholders, U.S. investment firm Altaba Inc and SoftBank.The deal will see Altaba, which was formerly the internet giant Yahoo! Inc, sell down its stake in Yahoo Japan by around $2 billion and SoftBank raise its stake slightly in Yahoo Japan to around 48 percent.


BusinessToday.In
New Delhi, July 9, 2018
The DoT nod is significant as reports suggest the process of the proposed deal is being closely watched by the PMO. Being one of the biggest merger deals in telecom makes it even more interesting for foreign investment companies looking for future deals in India.


PTI
New Delhi, July 5, 2018
The Delhi High Court today sought the Centre's response to a plea by Vodafone challenging an order that the high court has jurisdiction to entertain a plea against the international arbitration initiated by the company against India in connection with a tax demand of Rs 11,000 crore.


BusinessToday.In
July 5, 2018
Early in the year, in a bid to provide internet connectivity beyond railway stations, it had partnered with Larsen & Toubro (L&T) to bring 150 Google Station hotspots to Pune, which was part of the Pune Smart City Project.


Mail Today Bureau
July 3, 2018
Incumbent operators have been forced to drastically cut prices to compete with Jio's dirt cheap data and free voice offers. The stakes are a lot higher for telecom firms in India in the postpaid segment.


BusinessToday.In
June 27, 2018
With over 200 million subscriber base, Reliance Jio is now at the fourth position in India's telecom industry. So far, Airtel dominates the market with 309 million customers followed by Vodafone, which has 222 million subscribers.


BusinessToday.In
New Delhi, June 27, 2018
Now apply for passport from anywhere in India: MEA  External Affairs Minister Sushma Swaraj has launched a new scheme under which a person can apply for a passport from anywhere in India irrespective of the place of stay. She also launched a mobile application, available in Android and iOS platforms, that would have the facilities for applying, paying and scheduling appointments for acquiring a passport. A person can now choose the Regional Passport Office (RPO) and the Passport Seva Kendra (PSK) or Post Office Passport Seva Kendra (POPSK) for submitting the application.The police verification, if required for a specific passport, would be conducted at the address specified in the application form.NPA situation likely to worsen further, says RBI  Painting a gloomy picture of the banking sector, the RBI today said gross bad loans as percentage of total advances of banks are likely to rise from 11.6 per cent in March 2018 to 12.2 per cent by the end of the current fiscal. In its Financial Stability Report (FSR), the RBI said stress in the banking sector continues as gross non-performing advances (GNPA) ratio rises further. Referring to the 11 state-owned banks under prompt corrective action framework (PCA), the RBI said they may experience worsening of their GNPA ratio from 21 per cent in March 2018 to 22.3 per cent by this fiscal-end.Ajay Chitkara appointed CEO of Airtel Business  Telecom major Bharti Airtel today said it has appointed Ajay Chitkara as director and CEO of its business-to-business arm - Airtel Business. The company also moved Bharti Infratel chief financial officer Pankaj Miglani as CEO of Global Business. Chitkara has been with Airtel since 2001 and is credited with building brand Airtel in the global wholesale segment. The company said that Global Business arm of Airtel grew in topline to become a billion dollar business, while cash flow margins jumped five-fold since 2013 under Chitkara. In his new position, he will continue reporting to Gopal Vittal, MD and CEO - Bharti Airtel.India's largest telecom entity will be known as Vodafone Idea LtdKumar Mangalam Birla's Idea Cellular and Vodafone India will soon be known as Vodafone Idea Limited. Both the telecom operators are in the process of merging their businesses, and the approval for merger by the Department of Telecom is in final stage. On Tuesday, the shareholders of Idea Cellular approved the name 'Vodafone Idea Limited' for the new -- after merger-- entity.  The change in the name will be effective post completion of merger of Vodafone India and Idea Cellular. Vodafone is expected to own 45.1 per cent, 26 per cent by Aditya Birla Group and Idea shareholders will own 28.9 in the combined entity. Govt to include natural gas, jet fuel under GST in next Council meeting on July 21Petrol and diesel prices will continue to burn a hole in your pocket as the government has no immediate plan to include it under the GST net. The GST Council, which will meet on July 21, however, may give its nod to include 'natural gas' and 'aviation turbine fuel' under the indirect tax regime. Finance Secretary Hansmukh Adhia confirmed to PTI that the next GST Council meeting could decide on including these two items under the Goods and Services Tax. EPFO members can withdraw 75% funds after 30 days of job lossRetirement fund body EPFO on Tuesday decided to give its members an option to withdraw 75 per cent of their funds after one month of unemployment and keep their PF account with the body. The members would also have an option to withdraw remaining 25 per cent of their funds and go for final settlement of account after completion of two months of unemployment under the new provision in the Employee Provident Fund Scheme 1952.


BusinessToday.In
June 27, 2018
After merger, Vodafone Idea Ltd will become India's largest telecom company with a market share of around 35 per cent. The move is being seen as a way to counter the highly competitive Indian telecom market.


Manu Kaushik
New Delhi, June 26, 2018
The reports of the Department of Telecom (DoT) asking for Rs 4,700 crore from Vodafone India on account of one-time spectrum charges (OTSC) dues are expected to hurt India's ambitions.


BusinessToday.In
June 25, 2018
The telco may be listed on Indian bourses after Reliance Industries' consumer businesses overtake its energy business in terms of revenue, according to a report.


BusinessToday.In
New Delhi, June 24, 2018
The demand will be raised from Vodafone India before its merger with Idea Cellular. This is more than likely to keep the mega-merger of the two telecom operators from being completed by the intended deadline of June 30.


Manu Kaushik
New Delhi, June 22, 2018
The department of telecom (DoT) has recently amended the regulations on internet telephony that will henceforth allow the telecom service providers like Airtel, Vodafone India, Idea Cellular and others, to provide voice and video calls over the internet.


Manu Kaushik
New Delhi, June 15, 2018
The \"Double Dhamaka\" plan offers 252 gigabits (GBs) of data (3GBs per day), unlimited voice calls and SMSes at Rs 399 for 84 days.


Manu Kaushik
New Delhi, June 11, 2018
The scale of value destruction in the telecom sector has been huge. Only sensible policies and practices can save it now.


PTI
June 4, 2018



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