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RIL, Aditya Birla Group, Airtel, Future Group jump into fray for payment bank licences

Feb 03, 2015 at 07:40 | Source: FirstPost

New Delhi: Big corporate houses including RIL, Aditya Birla Group, Airtel and Future Group have joined the race for payment bank licence while a number of entities have also applied for setting up small finance banks.The deadlines for seeking both ki...

Ambanis, Birlas, Mittals join the race for bank licenses

Feb 02, 2015 at 21:37 | Source: FirstPost

New Delhi: Big corporate houses including RIL, Aditya Birla Group, Airtel and Future Group have joined the race for payment bank licence while a number of entities have also applied for setting up small finance banks.The deadlines for seeking both ki...

Vodafone says it paid Rs 22,300 cr to public finances in India in FY14

Jan 30, 2015 at 21:15 | Source: FirstPost

New Delhi: British telecom major Vodafone today said its Indian arm has contributed over 2.2 billion (about Rs 22,300 crore) to public finances, including taxes, for financial year ended 31 March 2014. "In 2013-14 our direct and indirect contrib...

India's FDI increased by 26% in 2014: UN

Jan 30, 2015 at 16:24 | Source: FirstPost

Geneva: Notwithstanding the decline in global foreign direct investment inflows, India's FDI increased by 26 percent in 2014 to nearly $35 billion with maximum growth in the services sector, a UN report has said. China toppled the US in 2014 as the w...

China overtakes US for foreign direct investment

Jan 30, 2015 at 13:32 | Source: BBC

China has overtaken the US as the top destination for foreign direct investment (FDI), for the first time since 2003. Last year, foreign firms invested $128bn (£84,8bn) in China, and $86bn in the US, according to the United Nations Conference of Tra...

India applies principle behind Vodafone tax ruling to other cases

Jan 30, 2015 at 01:15 | Source: FirstPost

MUMBAI (Reuters) - The Indian government has asked its tax officials to apply the principle behind a tax ruling involving Vodafone Group Plc(VOD.L) to all similar transfer pricing cases, an official letter seen by Reuters showed.The government had sa...

China overtakes U.S. as world's top investment magnet - U.N.

Jan 29, 2015 at 23:30 | Source: FirstPost

GENEVA (Reuters) - China overtook the flagging United States to become the top destination for foreign direct investment (FDI) last year, according to the United Nations economic thinktank UNCTAD.The United States has long been the world leader in at...

Vodafone transfer pricing decision: Why is Modi govt smoking the peace pipe with MNC lobby?

Jan 29, 2015 at 17:40 | Source: FirstPost

The Modi governments decision to not appeal against the Bombay High Court verdict in Vodafone transfer pricing case is the worst act of capitulation to the MNC lobby.Lest there is a misunderstanding, it would be necessary to remind the readers that t...

3G spectrum: Era of cheap prices is over; telcos have to change their business models

Jan 29, 2015 at 12:27 | Source: FirstPost

The Union cabinet's decision to keep the reserve price for 3G spectrum at Rs 3,705 crore per Mhz in the 2,100 Mhz band for auctions scheduled to begin on 4 March is probably the right call. One says probably because no one can predict where prices wi...

Modi walks the talk: Govt's decision to not appeal in Vodafone case is a landmark one

Jan 29, 2015 at 10:20 | Source: FirstPost

The government's decision yesterday to not appeal against the Bombay High Court's order favouring Vodafone in a transfer pricing case is a landmark one.The case pertains to a Rs 3,200 crore notice slapped on Vodafone by the tax department alleging th...

Modi walks the talk: Govt's decision in Vodafone case marks a break from past

Jan 29, 2015 at 08:29 | Source: FirstPost

The government's decision yesterday to not appeal against the Bombay High Court's order favouring Vodafone in a transfer pricing case is a landmark one.The case pertains to a Rs 3,200 crore notice slapped on Vodafone by the tax department alleging th...

Government will not appeal Vodafone tax ruling

Jan 29, 2015 at 00:45 | Source: FirstPost

MUMBAI (Reuters) - The government will not appeal a regional court ruling in favour of Vodafone Group Plc in a long-running tax dispute, the cabinet decided on Wednesday, in a move aimed at boosting investor confidence in Asia's third-largest economy...

Vodafone case: Government not to appeal against Bombay High Court order

Jan 28, 2015 at 19:51 | Source: FirstPost

New Delhi: To avoid "fruitless litigation" and allay investors' concerns on tax issues, government today decided against appealing a court order that absolved Vodafone of Rs 3,200 crore tax demand in a transfer pricing case.As Cabinet decid...

Mobile roaming fees should remain until 2018 - EU document

Jan 28, 2015 at 02:15 | Source: FirstPost

BRUSSELS (Reuters) - Mobile operators such as Vodafone and Orange would be allowed to continue levying roaming charges over the next three years, according to an EU document, defying European lawmakers' proposal to scrap the fees by the end of this y...

Idea Cellular posts 64 pct profit rise as subscriber numbers grow

Jan 28, 2015 at 00:33 | Source: FirstPost

MUMBAI (Reuters) - India's Idea Cellular Ltd(IDEA.NS) posted a 64 percent rise in quarterly profit as it added more subscribers than rivals did, boosting data and talk time usage.Idea Cellular, the first telecoms carrier to report results for the Dec...

India turns to corner shops, mobile phones for banking revolution

Jan 26, 2015 at 09:30 | Source: FirstPost

NEW DELHI/MUMBAI (Reuters) - India is betting that mobile phone vendors, fuel stations and corner stores can help it put basic banking within the grasp of hundreds of millions of its poor people living beyond the reach of traditional bank branches.Th...

Li Ka-shing in talks to buy O2 for £10bn

Jan 23, 2015 at 18:32 | Source: BBC

Asia's richest person Li Ka-shing is in talks to buy Britain's second-largest mobile provider O2 for up to £10.25bn ($15.4bn) from Spain's Telefonica. His firm, Hong Kong-based Hutchison Whampoa, already owns the Three mobile network,...

Hutchison Whampoa to splurge $15 bn for O2, set to have UK's biggest mobile network

Jan 23, 2015 at 08:47 | Source: FirstPost

Madrid/ Hong Kong: Li Ka-shing's Hutchison Whampoa Ltd is set to buy Telefonica's British mobile unit O2 in a deal valued at more than 10 billion pounds ($15 billion), a source with direct knowledge of the matter said, as Asia's richest man makes one...

Vodafone chief says spectrum 'like oxygen', questions govts charging for it

Jan 23, 2015 at 07:38 | Source: FirstPost

Davos: Telecom major Vodafone's chief Vittorio Colao today wondered whether there is any need for government to charge for spectrum, which he said is like oxygen and water."I will want to ask a question in the end. Does we need to charge for spe...

During Obama's visit, India, US set to ink tax pact to boost foreign investment

Jan 22, 2015 at 17:03 | Source: FirstPost

Mumbai: India is set to strike a bilateral tax agreement with the United States as early as this weekend, hoping to boost foreign investment and ease concerns raised by bruising disputes including cases against Vodafone and Shell.The pact, which indu...

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