10:10 pm - Sunday November 24, 2024

Business

Latest News on Business
Telecom major Bharti Airtel on Thursday announced it has acquired 100 per cent stake in Wireless Business Services (WBSPL), a company founded by U.S. chipmaker Qualcomm. The company had acquired a 49 per cent stake in WBSPL in May 2012 for $165 million. At that price, the additional stake purchase would have cost Airtel an estimated $165 million, or Rs. 1,008.1 crore at Friday’s exchange rate. However, the company did not disclose the financial details of the deal. In a statement, Airtel said that it has “completed the acquisition of 100 per cent equity shares of Wireless Business Services Private Limited, which holds BWA Spectrum in the Indian telecom circles of Mumbai, Delhi, Haryana and Kerala”. Airtel acquired a majority stake in WBSPL in July by increasing its stake to 51 per cent from 49 per cent. WBSPL has spectrum that can be used for high-speed 4G services in New Delhi, Mumbai, Haryana and Kerala. Airtel has the similar spectrum in Punjab, Maharashtra, Kolkata and Karnataka. Airtel has already launched 4G services in Bangalore, Pune, Kolkata, Chandigarh, Mohali and Panchkula. Shares of Airtel were trading at Rs. 353.80, up by 1.46 per cent, in the afternoon session at BSE.
Delhi users please note: Your Airtel pos...

Delhi users please note: Your Airtel postpaid bill will go up by 12% from D...

EW DELHI: Country’s biggest telecom operator Airtel has announced an increase in its postpaid monthly charges by about 12% in select plans, effective December in Delhi NCR region. “Effective Dec 3 2014, bill plan rental for your Airtel mobile will be revised from Rs 199 per month to Rs... read more »

One World Trade Centre opens for busines...

One World Trade Centre opens for business

NEW YORK, Nov 4 – One World Trade Centre, America’s tallest building, on Monday welcomed its first tenants, publishing group Conde Nast, in a symbolic moment 13 years after the 9/11 attacks that brought down the original Twin Towers. About 175 executives of the group that publishes magazines... read more »

All units at VSP back in action: RINL

All units at VSP back in action: RINL

VISAKHAPATNAM: Rashtriya Ispat Nigam Limited (RINL) on Sunday said production has been restored at all units of the Visakhapatnam Steel Plant (VSP), which was affected by Cyclone Hudhud. In a release, RINL said the revival of raw material handling facilities, coke ovens, blast furnaces and SMS-1... read more »

Gold, silver likely to trade lower; copp...

Gold, silver likely to trade lower; copper may rise

Global markets traded mixed in the last fortnight as the US Fed’s decision to wind up its bond buying programme acted as a boost for equities wherein the Dow Jones gained by around two per cent. Equities in the euro zone and Japan traded lower due to weak sentiment, acting as a negative... read more »

More from Business

Larsen & Toubro bags Rs 1,885 cr order from NTPC

Infrastructure firm Larsen & Toubro (L&T) said on Friday it has bagged a Rs 1,885 crore contract from NTPC for setting up steam generators for Tanda Thermal Power Plant in Uttar... read more »

Coal blocks: CBI says it's following SC guideline

Must disclose the whistle blower who gave visitors’ list: CBI chief

CBI chief Ranjit Sinha has said that noted lawyer Prashant Bhushan cannot claim immunity from disclosing the name of a “whistle blower” who provided him the list of visitors to his... read more »

MNC giant paid bribe to win Delhi Metro contract, UK prosecutor says

LONDON/NEW DELHI: The British subsidiary of French train and turbine maker Alstom paid around $8.5 million (nearly Rs 52 crore) in bribes over a six-year period to win transport contracts... read more »

ICICI Bank Ltd gained 1.4 % on value-buying

ICICI Bank launches cardless cash withdrawal services

ICICI Bank on Wednesday said it would allow consumers to withdraw or transfer cash without debit cards.To avail this facility, a sender has to register the recipient’s... read more »

Bajaj Finance To Seek Licence To Launch Housing Finance Arm

Non-banking lender Bajaj Finance’s board has given its nod to launch a housing finance arm as a wholly-owned subsidiary. It will now apply to National Housing Bank for license.“We are... read more »