Nikita Venkatesh

Airtel teams up with Nokia for 3G services

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Telecom operator Bharti Airtel has selected Nokia Networks for the rollout its 3G services in five telecom circles and network expansion in three zones.

Under the four-year contract, Nokia will provide its equipment and services to Bharti Airtel’s infrastructure.

“We are happy to further extend our long-term association with Nokia Networks towards innovating our network’s service delivery mechanism and deliver a host of multi-media apps as well as services for Airtel customers,” Bharti Airtel Director of Network Services Group Abhay Savargaonkar said in a statement.

Gionee mulls to invest $ 50 million in India

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Chinese mobile handset player Gionee today said it will invest USD 50 million in India over the next three years to set up a manufacturing facility.

The company is in talks with a few contract manufacturers for the facility but did not divulge further details.

“The investment we are looking at is about USD 50 million over the next three years. It will be contract manufacturing,” Gionee India Country CEO and MD Arvind Vohra told PTI.

Vohra said he visited various manufacturing facilities across the country during the last one month.

Auto component body expects 10 pc growth

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Banking on revival of commercial vehicle segment, the auto component industry body ACMA expects the sector to grow by up to 10 per cent in the current fiscal.

The industry, which is expected to touch USD 100 billion in turnover by 2020, grew by 11 per cent to Rs 2.34 lakh crore (USD 38.5 billion) in the 2014-15 financial year.

Big day for IPOs, 3 companies raise over Rs 3,000!

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In a big day for IPOs, at least three companies—low-cost carrier IndiGo, staffing firm Teamlease and e-retailer Infibeam—have lined up public offers to raise an estimated over Rs 3,000 crore from investors.

Merchant banking sources said the draft papers for all the three Initial Public Offers (IPOs) were being submitted to capital markets regulator Sebi today.

Indian markets recover despite ongoing Greece crisis

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The benchmark BSE Sensex rebounded over 117 points in early trade today, after two sessions of losses, on value-buying by investors in select blue-chips amid a recovery at Asian markets despite the ongoing Greece crisis.

The 30-share index recouped 117.80 points, or 0.42 per cent, to 27,762.95, with FMCG, realty, metal, consumer durables, healthcare and oil & gas sectors leading the recovery.

The gauge had lost 250.82 points in the previous two sessions on the worsening Greece’s debt situation.

Also, the NSE Nifty was up 34.65 points, or 0.42 per cent, at 8,353.05 in early trade.

Sensex rises 136 points higher on fresh buying, strong Asian cues

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Snapping its 2-day losing streak, the benchmark S&P BSE Sensex recovered 136 points to settle at 27,780.83 today on fresh buying in FMCG, healthcare, consumer durables and metal sector stocks amidst higher Asian cues.

Besides, media reports that Greek Prime Minister Alexis Tsipras is considering a last-minute bailout proposal by the European Commission, lifted market sentiments.

The Sensex opened lower at 27,627.39 and fell further to 27,570.95 on initial selling.

Indigo files Rs 2,500-cr IPO papers with Sebi

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Top no-frills carrier IndiGo today approached capital markets regulator Sebi with Initial Public Offer (IPO) plans to raise an estimated Rs 2,500 crore from the public investors.

InterGlobe Aviation Limited, which runs the country’s biggest airline by market share under ‘IndiGo’ brand, has offered to issue fresh shares worth Rs 1,272 crore, an equivalent amount can be raised through sale of up to 3.01 crore shares by its existing shareholders.

Greece debt crisis: Impact on India

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Shares of Indian companies with exposure to Europe faced selling pressure today amid worries over the Greek debt crisis.

Shares of Bharat Forge plunged 4.03 per cent, Tata Motors was down 2.07 per cent, Havells India went down by 1.66 per cent, Motherson Sumi Systems lost 1.32 per cent and Tata Steel fell by 0.79 per cent on the BSE.

IT stocks also faced selling with HCL Tech falling 2.78 per cent, Infosys lost 1.58 per cent, Wipro was down 1.23 per cent. Europe is the second biggest outsourcing market for the Indian IT services firms after the US.

Centre set to impose 10 pc duty hike on wheat

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The government is considering imposing 10 per cent import duty on wheat to curb shipments and liquidate poor quality grains lying in FCI godowns.

At present, there is no import duty on wheat. Flour millers and private traders are importing wheat on lower global prices and lack of high-quality grains in the domestic markets.

Imports are happening despite bumper domestic wheat output in the 2014-15 crop year and surplus stocks with the Food Corporation of India (FCI), the nodal agency for procurement and distribution of foodgrains.

Kejriwal’s power bill not Rs 91,000: Delhi Govt

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The AAP government today rebutted criticism by the BJP on the issue of Rs 91,000 power bill at Chief Minister Arvind Kejriwal’s official residence, saying it included electricity charges for a camp office and various other facilities installed for visitors at the complex.

In a statement, the government said the monthly electricity expenditure at the Chief Minister’s residence at 6, Flag Staff Road in Civil Lines area is around Rs 15,000 which is “nowhere close” to the figure being reported.

BJP MLA OP Sharma loses cool in Delhi assembly, breaks mike

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BJP MLA OP Sharma today broke the mike at his table on the last day of the Budget session of the Delhi assembly alleging that it had been turned off.

An upset Sharma said he was not being allowed to speak in the assembly after the Speaker ordered that his mike be switched off.

“Our mikes are switched off whenever we try to raise our question in the assembly. This is not acceptable,” Gupta said.

The BJP legislator walked out of the assembly after breaking the mike and returned after sometime.

Delhi Assembly passes VAT Amendment Bill amid high drama

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The Value Added Tax (Amendment) Bill was passed by the Delhi Assembly on Tuesday.

The Bill was passed even as the Assembly witnessed high drama after Bharatiya Janata Party (BJP) MLA Vijender Gupta tore off the amendment papers and his party MLAs staged a walkout from the session.

The bill will make enabling provisions for levy of VAT in respect of goods enlisted in the Fourth Schedule at flexible rates instead of a flat slab of 20 percent.

PTI

No system for monitoring sanitation services in Delhi: CAG

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Government auditor CAG has pointed out several irregularities in garbage collection and disposal by municipal corporations and stated that civic agencies neither have “perspective plan”, nor any system for monitoring sanitation services.

The CAG report highlighted that Delhi, on an average, produces 7,172 tonnes of garbage, 2,773 ton of construction and demolition (C&D) waste and 664 ton of silt daily.

Inadequate planning by Delhi govt led to blockade of Rs 1.47 crore: CAG

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“Inadequate” planning for e-challaning project on part of Delhi Government’s department of transport (DoT) resulted in blockade of funds worth Rs 1.47 crore, Government auditor CAG observed in its report.

According to CAG, audit scrutiny of department records showed that DoT associated Delhi Integrated Multi-Modal Transit System Limited (DIMTS) in the implementation of the project, though no formal agreement was signed between the two parties in 2010.

Lokayukta storm: Govt orders SIT probe into corruption

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In the eye of a storm over charges of corruption in his office, with his son’s name also dragged into it, Karnataka Lokayukta Bhaskar Rao today ruled out his resignation, even as the government ordered an SIT probe into the alleged bribery scandal.

As pressure mounted for his exit, Rao said, government has ordered the constitution of a Special Investigation Team (SIT) into the alleged corruption by some Lokayukta officials and rejected calls for his resignation.

South-west monsoon weakens over Karnataka

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With the southwest monsoon weakening over Karnataka, rainfall would occur in only a few places in the state, a meteorological department official said on Tuesday.

Bengaluru city will experience a generally cloudy sky and it will be windy, the official added.

The city recorded 6.3 mm rain on Monday.

On Tuesday, the maximum temperature is likely to hover around 31 degrees Celsius.

Bengaluru recorded a maximum temperature of 32 degrees Celsius on Monday while the minimum temperature was 20.4 degrees Celsius.

IANS

28 killed in ISIS attack in Yemen capital

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At least 28 people, including eight women, were killed in an attack carried out by the Islamic State of Iraq and Syria (ISIS) on two Houthi rebel leaders in Yemen’s capital Sanaa last night.

According to a security source, the car bombing targeted Houthi rebel chief brothers Faycal and Hamid Jayache during a gathering organised to mourn the death of a family member, reported The Guardian.

Houthi rebels shut down the surrounding city centre after the attack allowing only emergency services to evacuate the victims, witnesses said.

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CM Mufti reviews arrangements for Amarnath Yatra

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Jammu and Kashmir Chief Minister Mufti Mohammed Sayeed on Monday reviewed the arrangements made for the Amarnath Yatra pilgrims in state’s Baltal area.

Mufti was accompanied by Deputy Chief Minister Nirmal Singh and Subrata Saha, GOC, 15 Corps.

Elaborate security arrangements have been made to ensure a safe and secure yatra for the pilgrims.

This year’s Amarnath Yatra will commence from July 2 and end on August 29.

The registration for this year’s Yatra, via selected bank branches, began in March. (ANI)

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BJP slams Kejriwal for knocking court’s door on every issue

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Asserting that Delhi Chief Minister Arvind Kejriwal was disturbing the discipline associated with uniform, BJP leader Satish Upadhyay on Monday said it has become the latter’s habit to go to court over every issue.

“A discipline is associated with the uniform and he is disturbing that discipline. It has become his habit to go to the court on every issue,” said Upadhyay.

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Information Commission directs PIO to provide info under RTI on Priyanka’s land in Shimla

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The Information Commission of Himachal Pradesh has directed the Public Information Officer (PIO) to reveal the details of Congress president Sonia Gandhi’s daughter Priyanka Gandhi Vadra’s land in Shimla, sought under the Right to Information Act.

Hearing the appeal of RTI activist Devashish Bhatacharya, the court of the Information Commission directed the Public Information Officer to provide the sought information in 10 days’ time.

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Kerala college diktat: ‘Youngsters’ fashion not un-Islamic’

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Following the ban on tight jeans, short tops and leggings by a north Kerala women’s college, Muslim cleric Mufti Shamoon Kazmi on Monday said that youngsters following a bit of fashion is not un-Islamic.

“I would like to say that they are youngsters and can do a little bit of fashion if they like to. It is nothing like un-Islamic that such a big decision, like a ban is required. But they should also know their limits,” Kazmi told ANI

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Congress criticises AAP for proposing increased VAT in Delhi

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The Congress party on Tuesday criticised the Aam Aadmi Party government in Delhi after the latter proposed a hike in the value added tax (VAT) in the national capital.

“What is shocking is that before coming to power, the AAP said that the VAT would be lowest in country and now they plan to increase it,” Congress leader Ajay Maken said.

Detailed story to follow. (ANI)

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Coal scam: ‘All decisions taken by Manmohan Singh’, claims Dasari Narayan Rao

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Former minister of state for coal Dasari Narayan Rao on Tuesday alleged that all the decisions related to coal blocks were taken by the then-prime minister Dr. Manmohan Singh who was in-charge of the Coal Ministry.

“Now, the matter is in the court. I should not speak anything. Yes, true, I am minister, but I am an MoS. So all powers, allocating the blocks power is wholly with the coal minister. The then coal minister is Mr. Manmohan Singh,” Rao told ANI.

“All the decisions, these decisions were taken by the Prime Minister,” he added.

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Farmers’ suicide: CPI accuses Govt. of favouring corporate sector

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Communist Party of India (CPI) leader D. Raja on Tuesday accused the government of helping the corporate section and big business houses instead of devising policies to address the issue of farmers.

“Farmers suicide is on the increase. Indian farmers are passing through unprecedented distress. The government should address the issues of the farmers but it is instead helping the corporate houses, big business houses,” said Raja. (ANI)^

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