Ambanis, Birlas, Mittals join the race for bank licenses
Feb 02, 2015 at 21:37 | Source:
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:
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:
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:
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:
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:
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...
Government will not appeal Vodafone tax ruling
Jan 29, 2015 at 00:45 | Source:
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:
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:
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:
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:
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:
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,...