New Silk Route Appoints Sanjeev Chachondia As Operating Partner
New Silk Route has announced the appointment of Sanjeev Chachondia as their Operating Partner. He will be based out of Mumbai. Prior to New Silk Route, he was the CEO of Loop Mobile India Limited (earlier known as BPL Mobile Communications Ltd). He has also worked with Essar Telecom Infrastructure Pvt.Ltd and the Tata group.
Network 18 To Not Be A Non-Banking Financial Corporation
Network 18 has informed the BSE that in accordance with the companys request, the Reserve Bank of India has cancelled Network18s Certificate of Registration to carry on the business of Non Banking Financial Institution. The company will continue to operate the business of events management, sports management and hold investments as per applicable law.
RCOM To Sell FLAG: Report
Reliance Communications is planning to sell an undersea fiber optic network (FLAG) and Yipes to raise around $3 billion in cash. According to ET, Reliance had hired a bank to advice on the auction, with Japan’s KIDDI and American AT&T and Verizon as potential buyers. (Read more at The Economic Times)
Rakesh Jhunjhunwala Sells Infomedia 18 Stake
Investor Rakesh Jhunjhunwala (and Rekha Jhunjhunwala) have sold a total of 667,755 equity shares of Infomedia 18 Limited according to filings with the NSE. Post sale their stake in the company has fallen from 7.5764 percent to 4.2183 percent. 4,45,389 shares were sold on December 9th, and 2,22,366 shares on December 10th 2009.
MTS To Be Launched In Mumbai
Sistema Shyam Televersices that operates its CDMA service under the brand MTS will launch its services in Mumbai this week. SSTL will be the 12th operator in the circle and it will be investing Rs. 450 crore for its operation there. The telecom operator will also be launching its pre-paid high speed data service MBlaze. Mumbai will be the ninth circle for MTS and Maharashtra & Goa will follow next. (Read more at The Economic Times)
Uniform License For Telcos May Be Delayed
The Government may delay the implementation of a uniform license fee of 8.5 percent for mobile phone operators as it may result in a 10-12 percent fall in revenues. At present telecom operators pay 6-10% of adjusted gross revenues as licence fees, the highest for the circle A and lowest for the circle C. (Read more at The Economic Times)
15 Percent Market Share For Indian Mobile Handset Manufacturers
Indian handset manufacturers like Karbonn, Lava, Micromax and Movil have increased their market share to 15 percent and is projected to rise to 25-30 percent in the next three to five years. (Read more at Business Standard)
Software To Clone IMEI
After the Government banned cell phones with no IMEI numbers, Spiderman Box, a software, is being used illegally to clone genuine IMEI numbers from registered mobile phones into Chinese ones. Shop owners are charging Rs 100 for cloning the IMEI. (Read more at Mid Day)
Shankar B Joins Ignitee Digital Solutions
Ignitee Digital Solutions has announced the appointment of Shankar B as National Business Director. Shankar B will be responsible for growing business across Mumbai, Delhi, Chennai, Bengaluru and Secunderabad in India and Dubai as well. Prior to joining Ignitee, he was National Sales Head of E 18, a Network 18 Company, for over 2 years. He has also worked with Getit Yellow Pages, the Indian Express Group and Turner International India among others.
Suvidhaa To Set-Up 25000 IT Kiosks In 2010
Suvidhaa Infoserve has plans to set up 25,000 IT kiosks across India in 2010. The company also plans to increase its range of services. At present the company operates about 15,000 kiosks across 450 locations. Suvidhaa offers services under 27 categories including utility bill payments and other financial services. (Read more at express buzz)
Triple Play Game For Airtel
Diginatives has developed ‘GetRis’, a digital game, for Airtel based on triple play. The game can be played from its DTH, mobile or broadband platforms. Users can continue playing an existing game from any of the three platforms. The game targets the age group of 14 to 18. Diginatives is promoted by UK based Khangura group and is a JV with Astro Group of Malaysia and Mogae Digital of India.
Ignou’s Rescheduled Test Not To Be Online
Ignou has rescheduled its admission test to it its full-time engineering programme to December 27. The online test had been cancelled earlier due to server failure. The rescheduled test will not be held online but OMR based. (Read more at The Times Of India)
Sri Adhikari Brothers To Launch Regional Channels
Sri Adhikari Brothers Television Network Ltd has plans to launch regional entertainment channels and is looking to raise up to Rs 1 billion for the purpose. The company has also approved the offering and issue of up to 2.92 million warrants, carrying an option /entitlement to subscribe equivalent number of equity shares of Rs 10 each for preferential issues, to the promoter group. The board has also approved to increase the authorized share capital from Rs. 200 million to Rs. 300 million. (Read more at Indiantelevision.com)
BSNL Launches WiMax Wireless Broadband.
BSNL has launched wireless broadband service in the country. It announced that the monthly tariff will start from Rs 140 for rural areas. The service uses WiMax technology and can offer speed of 7Mbps at a distance of 15 kilometers. (Read more at PTI)