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Bharti Zain deal – Zain telecom accepted bharti airtel offer

admin — Mon, 15 Feb 2010 05:37:04 +0000

Bharti zain deal updates : India based Bharti Airtel has offered $10.7 billion for most of the African assets of Kuwait’s Zain in which Morocco or Sudan operations are not included.

The offer marks Bharti’s third attempt to enter Africa including a second failed attempt last year to buy South Africa’s MTN Group Ltd. for about $23 billion.

France’s Vivendi SA, owner of Maroc Telecom, walked away from buying Zain’s African assets in July, saying the purchase didn’t fit “its usual criteria of profitability and financial discipline.” Zain had valued those assets at about $10 billion, three people familiar with the plans said in June.

Africa represents about 62 per cent of Zain’s 64.7 million customers, but only 15 per cent of group net profit.

“No doubt, those are future growth areas. But the growth will come only in 5-8 years time and in the short-term there is a risk of straining Bharti’s balance sheet,” said Baliga.

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Telenor mobile operations in India soon

admin — Wed, 02 Dec 2009 19:49:23 +0000

Telenor a Norwegian telecom firm will launches its mobile operations in India on Thursday.

Telenor will face the competition from Bharti Airtel, MTS, Aircel, Bsnl, Mtnl, Reliance Communications, Tata cdma, Tata docomo and Vodafone Essar.

Last month, Telenor CEO Jon Fredrik Baksaas said the company would price its call charges in India competitively but would not be the most aggressive. The company is aiming for an 8 percent share within five years of the India launch.

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Punjab nationa Bank slashes interest rates on various NRI deposits

admin — Wed, 02 Dec 2009 19:38:36 +0000

Punjab National Bank has cut down the interest rates on various NRI deposits of foreign curency denominations like for US dollar denominated deposits pnb slashes the rates in the range of 0.18 per cent to 0.38 percentage points similarly slashed rates on most pound, euro, Canadian dollar and Australian dollar deposits. Related posts:ICICI Bank reduced [...] Related posts:

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Birla Sun Life joins MFSS (mutual fund service system)

admin — Wed, 02 Dec 2009 19:31:09 +0000

Birla Sun Life joins the mutual fund service system (MFSS) recently launced by National Stock Exchange. “The various schemes of Birla Sun Life Asset Management Company Ltd will be permitted on the MFSS with effect from December 3,” the NSE said in a circular today” Related posts:Reliance Mutual Fund awarded best equity fund house of [...] Related posts:

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70,000 affordable homes coming in Gurgaon Haryana

admin — Wed, 02 Dec 2009 19:15:00 +0000

Good news for budget families searching for affordable home in National Capital Region (NCR) to buy becuase Haryana government coming up with a mega project in Gurgaon.The project will be completed within 6 months.

The 1,400-acre project, coming up in the southern region of Gurgaon (Sector 58-115) which will provide houses to approximate 70,000 families. Haryana Urban Development Authority (Huda) will develop 1,000 acres, while the rest will be developed by private players like Emmar-MGF and DLF.

The rate of Huda flats will vary from Rs 13 lakh to Rs 50 lakh, depending on the size and location. Comparable dwellings in Gurgaon begin with a price tag of Rs 30 lakh at present. According to Huda rules, all such residential projects have to leave 10% for economically weaker sections and another 10% for multiple housing units (group housing societies).

“We have decided to deviate from the earlier practise by readying complete infrastructure on the site before unveiling the housing schemes by Huda or private builders. Our other guidelines for housing poor and economically weaker sections remain unchanged,” said TC Gupta, director, town and country planning and special secretary, housing.

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Probably bonus for ICICI Bank employees

admin — Mon, 02 Nov 2009 11:59:44 +0000

ICICI bank considering bonus for its employees because of rise in profits in second quarter.

Do you know the Full form of ICICI bank check it ..

ICICI Bank CEO Chanda Kochhar has said the bank is consider rewarding its employees with bonus, which it skipped last year because of poor performance.

“I am still hoping that we should be able to give (bonus by the end of fiscal),” ICICI Bank CEO and Managing Director Chanda Kochhar said.

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