Bangalore: The number of third generation (3G) subscribers are projected to cross 107 million-mark by 2015, reports PTI quoting a report by a leading industry-focused tax and advisory services Pricewaterhouse Coopers PwC).
Initially, the uptake of mobile broadband services (MBS) will almost exclusively be in urban India. However, by 2015, rural subscribers are likely to comprise 24% of the overall 3G subscriber base, PwC's latest report titled 'Mobile Broadband Outlook 2015', commissioned by GSMA, the body representing the interests of global mobile communications industry, said.
Introduction of new innovative applications, enhanced user experience, decreasing prices of third generation/HSPA- enabled handsets would be the key driver for mobile broadband in India.
Mobile broadband services will generate incremental revenue of Rs940 billion in 2015 for telecom industry as a whole, it said.
On the key enablers of growth, PwC associate director Siddharth Vishwanath said the main driver for mobile broadband would be 3G and high speed packet access (HSPA) technology, while TDD LTE and in some cases WiMAX, would mainly cater to the enterprise and high networth individual segments.
"However, notwithstanding the fairly optimistic demand side scenario, spectrum remains a key constraint on the supply side for growth of MBS. To address this, appropriate policy changes and supporting regulatory frameworks need to be put in place."
Robindhra Mangtani, senior director at GSMA said mobile broadband should be recognised as a key component in any national broadband strategy.
The mobile subscriber base is projected to cross one billion in 2014 driven by high subscriber additions in mostly rural areas.
A gold-trading company that claims that it ‘earns’ 6% margin per month is ‘offering’ 200% returns to unsuspecting people from the North East.
It looks like multi-level marketing (MLM) companies from India are not doing their job well enough in duping gullible people. Now surface reports of a company, which claims to be a subsidiary of a Malaysian company, and is spreading its wings in the North East.
The company, UniPay2U, says it is a gold-trading company, promoted by Malaysia-based Best Genius SDN BHD. UniPay2U, which has its registered office in Bengaluru, is offering 200% returns in just 10 months on gold investments. According to the company site unipay2u.com, anyone can join its business plan by investing a minimum of Rs15,000 for buying 10 units to a maximum of 150 units at Rs2.25 lakh.
Besides two options, retention and non-retention, it also offers referral awards. In the retention plan, the customer can buy gold but is promised actual delivery after six months. He, however, is promised a 2.5% interest on his investment. Unipay2u offers redemption of gold after six months through a multinational bank, if you are from the North East. In the non-retention plan, the customer buys the gold but never gets its possession. Instead, he is offered 20% interest per month for 10 months along with 10% of his original investment amount. In short, the customer is promised 200% return on his investment in just 10 months.
The question is how can the company offer such a huge return — that too through gold trading?
According to some blogs run by Unipay2u's agents, the company buys 24-carat gold and converts it into 22-carat gold at its own factory outlet and in the due process gains 60 grams of gold on every 1kg. Since the company is a gold-trading licence holder, it gets triple credit every week from the market, it claims. So on buying 1kg of gold, it gets 3kg of gold as credit for each week. So, the 60 grams per kg it gains every week, gets converted into 240 grams of profit per week or 96% (24%x4, as per the blog). In addition, the company is paying its customers, sorry, investors, just 20%-23%.
First of all, this method of converting 24-carat gold into 22-carat gold and then earning huge money is dubious. If this is the way to earn huge profit, then all the goldsmiths and jewellers would not have taken the pain to set up big, spacious shops for selling jewellery that mostly is made with 22-carat gold.
Secondly, even if you buy 10 units of gold for Rs15,000 as of today after six or ten months, its price may go up or down. In case it goes up then Unipay2u may earn a profit but in case it goes down, then why would the company bear the loss, wouldn't it pass it on to investors?
Another interesting point is the company claims that it stores investors’ gold in professionally recognised bullion storage facilities in Switzerland, the UK or the US. Does this mean that, in case an investor wants possession of his gold after six months, he will have to get it from the safe deposits or will the company deliver it without paying any tax or duties while importing the same?
Last year, the Reserve Bank of India (RBI) restricted all miscellaneous non-banking financial companies from collecting funds from the public. However, Unipay2u says that it’s not a non-banking financial institution but is engaged in trading activities. It says it is not accepting deposits from the public but membership fees for trading.
Here is what Unipay2u says about the RBI notification. “M/s Unipay2u Marketing (P) Ltd, is not a non-banking financial institution; but is engaged in trading activities. The company is not accepting deposits from the public. As per Section 45-I (bb) (v) of the Reserve Bank of India Act, 1934, the membership fee accepted by the company as per the schemes of gold trading cannot be termed as public deposits. Further, as per Section 45-I (c) (vi) (b) of the Reserve Bank of India Act, 1934, the company cannot be termed as a banking financial institution. In the light of these statutory provisions, the notification issued by the RBI is not applicable to the company."
In short, this means neither is Unipay2u regulated by any authority, nor is it answerable to any regulator.
Further, in order to create an environment of credibility and assure customers, the company website contains ‘https’ (more secured) format instead of the usual ‘http’ format, and claims to be secured by SSL. The protocol, ‘https’ or ‘hypertext transfer protocol-secure’, is used by entities to denote secure e-commerce transactions like online banking.
After ending flat for two days in a row, the market ended on a higher note today. It witnessed a firm opening on the back of supportive global cues. The upmove was aided by stocks from the healthcare, auto and fast moving consumer goods sectors. There was some selling pressure and the indices gave up some of their gains by noon. The weak opening of the European markets pulled the market further down but later value-picking in select scrips resulted in the indices closing off their intraday highs.
The Sensex ended 208 points (1.1%) higher at 18,257. The index swung between a high-low range of 18,286 and 18,067, respectively. The Nifty was up 65 points (1.2%) at 5,479, conquering the psychological level of 5,400 once again. The benchmark rose to a high of 5,488 and touched a low of 5,416 during the trading session.
The market breadth was supportive today. Of the Sensex stocks, 22 advanced while eight declined. A total of 35 stocks on the Nifty ended in the green while 15 ended lower. The BSE Mid-cap index advanced 0.8% and the BSE Small-cap index surged 0.7%.
The top performers on the Sensex were led by Hindalco Industries (up 4.5%), Tata Motors (up 4.2%), HDFC and HDFC Bank (up 3.1% each) and Oil & Natural Gas Corporation (ONGC) (up 2.1%). The Sensex losers were Reliance Communications (RCom) (down 1.1%), Reliance Industries (RIL) and Mahindra & Mahindra (M&M) (down 0.6% each).
BSE Consumer Durables (CD) index was the lone loser in the sectoral space, down 0.2%. The sectoral gainers included Information Technology (IT) (up 2%), Fast Moving Consumer Goods (FMCG) and Metal (up 1.4% each), Technology (TECk) (up 1.3%) and Auto (up 1.2%).
Asian markets ended mixed for yet another day as new worries about the global economic recovery were brought to the fore. Besides, the lacklustre opening by influential bourses also played on investors' sentiments. Jakarta Composite ended 0.6% higher, KLSE Composite was up 0.5%, Nikkei 225 gained 0.8% and Seoul Composite was up 0.4%. On the other hand, Shanghai Composite was down 0.2%, Hang Seng was down 0.5%, Straits Times and Taiwan Weighted were down 0.1% each.
Personal computer sales in India touched 23.7 lakh units during April-June 2010, recording a 34% year-on-year growth, consulting firm IDC India said. Sale of PCs during the period increased by 5.8% quarter-on-quarter.
Desktop PC sales accounted for nearly two-thirds of total PC sales at 15.6 lakh units, representing a 24% increase year-on-year. Sales of notebook computers grew at 61% year-on-year, recording 8.05 lakh shipments.
The US market closed firm on Tuesday on positive earnings reports that overshadowed mixed economic data. Earning reports from Wal-Mart and Home Depot indicate that consumer spending is slowing retuning. Economic data was mixed. Industrial production rose and wholesale prices rose but housing starts suggested that the sector remains weak. The Dow gained 103 points (1%) at 10,405. The S&P 500 gained 13 points (1.2%) at 1,092. The Nasdaq gained 27 points (1.2%) at 2,209.
Foreign institutional investors were net buyers of Rs404 crore in the equities market on Tuesday. Domestic institutional investors were net sellers of Rs 400 crore on the same day.
Satyam Computer Services' (Satyam) (down 0.5%) tainted founder B Ramalinga Raju today secured bail from the Andhra Pradesh High Court, over 17 months after his arrest on charges of allegedly fudging the IT company's accounts.
Mr Raju, who was arrested on 7th January last year and is currently undergoing treatment in a city hospital, was granted bail on the condition he stay in Hyderabad and provision of on two sureties of Rs20 lakh each. With Mr Raju getting bail, all the 10 accused in the Rs14,000 crore Satyam accounting fraud case have been granted bail by various courts.
Anil Dhirubhai Ambani Group (ADAG) firm Reliance Broadcast Network (RBN) today said it has completed its final negotiations with US media conglomerate CBS Corp to form a JV to own and operate TV channels.
RBN, previously known as Reliance Media World (up 5%), will form a 50:50 joint venture with CBS Studios, a division of CBS Corp. The JV will own and /or, operate, market and promote a portfolio of television channels in India, Nepal, Bhutan, Sri Lanka, Bangladesh, the Maldives and Pakistan.
Auto and utility vehicles major Mahindra & Mahindra (M&M) (down 0.6%) today revealed its plans to launch new models to augment its presence in the automobile market in Sri Lanka. The company was also studying the possibility of introducing an electric car, the Mahindra Reva, in Sri Lanka in future.
Mahindra has already established a base in the island nation where it has been selling its range of tractors and utility vehicles for over a decade.