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16 June, 2018 3:37 PM Huawei India shuts product assembling operations in Chennai

Last year, the company had posted a revenue of $1.2 billion out of which around $250 million was accounted for devices business. Owing to a huge drop in demand for its equipment and services due to rapid consolidation in the Indian telecom market, Huawei India had shut assembly of products at its Chennai plant. As India gets digitally advanced with more and more global 53

6 June, 2018 4:52 PM Nod for IDFC Bank, Capital First merger

IDFC Bank on Wednesday said it had received the RBI’s approval for merger of Capital First, Capital First Home Finance and Capital First Securities with the company. Earlier in January, the company said its board of directors had approved the amalgamation of the three entities with IDFC Bank Ltd. The amalgamation is subject to the receipt of approval 36

5 June, 2018 5:03 PM Mcleod inks pact to sell 8 gardens

Mcleod Russel India Ltd., a BM Khaitan Group company, has entered into a memorandum of understanding (MoU) for selling eight Assam gardens to M.K. Shah Exports for ₹331 crore. The decision follows an approval from the board last week, the company said in a regulatory filing. These gardens together contributed 12.3 % of MRIL’s total turnover with a contribution 43

5 June, 2018 10:09 AM Jio 4G Download Speeds Continue to Dip in April 2018, TRAI Data Shows

The Jio 4G download speeds suffered another decline in April 2018, while arch rival Airtel saw its download speeds increase marginally, according to data by telecom regulator TRAI’s MySpeed app. This is the second straight month the Jio download speeds hav dipped and the third time this year. On the other hand, the incumbents — Airtel, Vodafone and Idea — are more or less maintaining 52

4 June, 2018 4:41 PM Idea gets nod to raise FDI limit

Idea Cellular Ltd. on Monday received approval from the Department of Telecom (DoT) to increase Foreign Direct Investment (FDI) limit in the company to 100% from the current 67.5%. “The approval is for total foreign investment up to 100% in Idea Cellular Ltd., and total indirect FDI in its relevant subsidiaries — Aditya Birla Telecom Ltd. and Idea Cellular 34

31 May, 2018 5:00 PM DoT ammends licence rule to allow higher spectrum holding

The telecom department has amended telecom licence norms to allow higher spectrum holding by individual mobile operators and facilitate ongoing consolidation in the sector. The amendment removes limitation on telecom operator of holding more than 50 percent in a spectrum band above 1,000 megahertz frequency range that are used for transmitting mobile 47

27 May, 2018 1:31 PM India protests Pakistan’s Gilgit-Baltistan order

Pakistan Prime Minister Shahid Khaqan Abbasi moves to integrate region into federal structure. India on Sunday summoned the Pakistan’s Deputy High Commissioner to protest Islamabad’s order to integrate the region of Gilgit-Baltistan into the federal structure of the country. An official press release from the Ministry of External Affairs (MEA) said the region 66

24 May, 2018 4:24 AM Telecom subscriber base again crosses 1.2 bn mark in March

Telecom subscriber base in the country again crossed 1.2 billion mark, with mobile service companies recording a net addition of over 26 million customers in March, according to monthly subscriber report of telecom regulator Trai released. "The number of telephone subscribers in India increased from 1,179.83 million at the end of February 2018 to 1,206.22 million 60

18 May, 2018 1:08 PM Karnataka trust vote: How the anti-defection law can kick in

Can the non-BJP MLAs switch parties or abstain from trust vote? Here is what action can be taken against the MLAs under the 10th Schedule of Constitution or the Anti-defection law. The Supreme Court on Friday ordered a floor test to be held in the Karnataka Assembly to prove which party holds the majority in the House. Bharatiya Janata Party's BS Yeddyurappa 49

7 May, 2018 12:35 PM ArcelorMittal gets European Commission nod to acquire Italy's Ilva

Global steel giant ArcelorMittal today said it has received a go-ahead from the European Commission (EC) to acquire Italian steelmaker Ilva. The approval is a significant milestone in the transaction to acquire loss-making Ilva and represents a major step towards closing the deal, which is now expected to occur as soon as possible, the company said in a statement 45