Govt approves relief package for debt-ridden telecom sector

Govt approves relief package for debt-ridden telecom sector

India’s telecom industry is highly stressed due to intense competition from new entrant Reliance Jio and spectrum auction payments. Photo: Indranil Bhoumik/Mint New Delhi: The government on Wednesday approved a relief package for the stressed telecom sector, easing spectrum-holding caps and extending the payment period for spectrum acquired in auctions to 16 years from 10 years. While the change in spectrum caps is expected to aid telecom sector consolidation, allowing operators to settle their dues to the government over a longer time period will boost cash flows of operators. The earnings…

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Can the ‘Inspiring Women’ Barbie doll series be the answer to gender justice?

Can the ‘Inspiring Women’ Barbie doll series be the answer to gender justice?

Amelia Earhart (left), Mexican artist Frida Kahlo (centre), and mathematician Katherine Johnson, part of the ‘Inspiring Women’ Barbie doll line from Mattel. Photo: AP New Delhi: Mattel, the manufacturer of the iconic Barbie doll, seems to have a canny finger on the pulse of the moment. Just as “inclusion rider” is rolling off the tongues of people across the world, thanks to Frances McDormand’s Oscar speech, and the chorus around the #MeToo movement grows on the internet, it has announced a new line of products that will elevate its own ‘wokeness’…

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17 Great Business Ideas as a Second Career

17 Great Business Ideas as a Second Career

As the Baby Boomer generation reaches retirement age, some may be interested in starting a second career as business owners. There are plenty of entrepreneurial opportunities out there for people looking to start a business as a second career. Below are some ideas for businesses you can start after retirement. Second Career Business Ideas Open a Restaurant Franchise Since baby boomers tend to have a bit more money than younger entrepreneurs, franchise ownership can be an attractive option. While there is some up front cost involved to buy into a popular…

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Apple to Invest $390 Million in Texas-Based Chipmaker Finisar

Apple to Invest $390 Million in Texas-Based Chipmaker Finisar

Apple said on Wednesday it would invest $390 million (roughly Rs. 2,513 crores) in Finisar that it will use to build out a plant in Sherman, Texas to make chips that power popular iPhone features such as Face ID, Animojis, and Portrait-mode selfies. The award will be part of Apple’s $1 billion “Advanced Manufacturing Fund” to foster innovation and create jobs, Apple said in a statement. Finisar will use the funds to transform a shuttered, 700,000-square-foot manufacturing plant in Texas to a facility developing vertical-cavity surface-emitting laser (VCSEL) chips. “VCSELs power some of…

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LPG costlier by Rs 1.50 a cylinder, Jet fuel price hiked by 6%

LPG costlier by Rs 1.50 a cylinder, Jet fuel price hiked by 6%

Jet fuel or ATF price was on Sunday hiked by a steep 6% on firming international rates, the third straight increase in rates since August. Aviation turbine fuel (ATF) will now cost Rs 53,045 per kilolitre (kl) in Delhi, Rs 3,025 per kl more than Rs 50,020 previously, according to a price hike notification by Indian Oil Corp, the nation’s biggest fuel retailer. This is the third consecutive monthly hike in ATF price, the last being by 4% (Rs 1,910 per kl) on September 1. Also, cooking gas (LPG) price…

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Fewer GST slabs, once revenue neutral-plus level is reached: Jaitley

Fewer GST slabs, once revenue neutral-plus level is reached: Jaitley

Finance minister Arun Jaitley said on Sunday that Goods and Services Tax (GST) slabs may be reduced in the future, if a “revenue neutral plus” tax level is reached. Jaitley made the remark at the foundation day event of the National Academy of Customs, Indirect Taxes and Narcotics (NACIN). He said reduction in tax slabs under the current GST regime can happen, but only after the GST regime reaches a “revenue neutral plus” level. Since July 1, GST has replaced around a dozen central and state taxes into a single…

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India’s holdings of American govt securities touch $135.7 billion, highest in a year

India’s holdings of American govt securities touch $135.7 billion, highest in a year

India has sharply increased its exposure to US government securities with holdings worth USD 135.7 billion at the end of July, official data showed. Neighbouring China continued to top the charts with holding to the tune of USD 1.166 trillion, followed by Japan with exposure worth USD 1.113 trillion. In recent months, India has increased its purchase of American government securities and the country is the third largest holder among the BRICS group after China and Brazil (USD 271.9 billion). At the end of July, Russia held securities worth USD…

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India’s drug prices regulator calls for better oversight of private hospitals

India’s drug prices regulator calls for better oversight of private hospitals

India’s drug pricing authority called for better regulation of the country’s massive private healthcare industry on Friday to ensure government efforts to cut prices benefit patients. To cut the cost of procedures such as angioplasty and knee surgery, India’s National Pharmaceutical Pricing Authority (NPPA) has dramatically reduced prices of knee implants and cardiac stents in recent months. The move has been hailed as a major effort by Indian Prime Minister Narendra Modi to make healthcare affordable, but it has been met with stiff resistance from healthcare providers. Several hospitals across…

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Govt seeks asset valuer for Air India stake sale

Govt seeks asset valuer for Air India stake sale

As the government prepares to peg a price tag to Air India for its stake sale, it has invited applications for an asset valuer for the national carrier as well as its subsidiaries and overseas offices. The Union Cabinet has given its in-principal approval for disinvestment of the debt-laden Air India and has constituted a group of ministers to chart out the future course of action. According to the tender document floated by civil aviation ministry, the asset valuer will have to carry out the valuation of land, buildings, aircraft,…

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Paytm Mall eyes sales worth $500 million during festive season

Paytm Mall eyes sales worth $500 million during festive season

Paytm Mall on Wednesday said it expects to facilitate sales worth $500 million during the festive season through its platform. Like its rivals Amazon India and Flipkart, Paytm Mall is also offering a sale on its platform between September 20-23. “We are well on our way to achieve half a billion dollar of sales this festive season. We are giving a number of offers and discounts to consumers during the festive season,” Paytm Mall Chief Operating Officer Amit Sinha told PTI. Early this year, Alibaba-backed Paytm had spun off Paytm Mall…

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