Companies & Sectors
Five firms to bid for telecom spectrum on 12 November 2012

The government is conducting auction of spectrum in 1800 Mhz band following cancellation of 122 telecom licences by the Supreme Court in February in the 2G scam case

 
New Delhi: Bharti Airtel, Idea, Vodafone, Videocon and Telenor-promoted Telewings are the five companies that will compete for the GSM spectrum in 1800 Mhz band in the auction slated to begin on 12 November 2012, reports PTI quoting the Department of Telecom.
 
The government is conducting auction of spectrum in 1800 Mhz band following cancellation of 122 telecom licences by the Supreme Court in February in the 2G (second generation) spectrum allocation scam case.
 
The government aims to garner a total Rs40,000 crore from the auction of spectrum and levy of other charges on the airwaves. The receipts are important for the government, which is faced with huge task of managing the widening fiscal deficit.
 
However, in a blow to the government’s plans of revenue earnings, Tata Teleservices and Videocon has dropped out from the auction of for CDMA spectrum, leaving no bidder in fray for the 800 Mhz band.
 
As per the list of final bidders released by the DoT, Aditya Birla-promoted Idea Cellular has maximum eligibility points (1,594), which enable it to bid for airwaves in the highest number of telecom circles.
 
Eligibility points have been decided according to the earnest money deposited with DoT by players.
 
Idea is followed by Telewings Communications promoted by Telenor (1,332 eligibility points), Videocon (788) and Vodafone (276).
 
Bharti Airtel deposited the least earnest money, which indicates that the telecom major will bid in selected circles.
 
The auction which will start on 12 November 2012 has to be completed by 11 January 2012. The Supreme Court has asked the government to complete the auction process by 11 January 2012. 
 

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India to spend $1 trillion on infrastructure in next 5 years

“The Cabinet has approved an expenditure of $1 trillion in the next five years on infrastructure development and 40% would come from private sector,” Kamal Nath, Union minister for urban development and parliamentary affairs told reporters

 
London: India will spend $1 trillion on infrastructure development in the country over the next five years and 40% of it will come from the private sector, reports PTI quoting Kamal Nath, Union minister for urban development and parliamentary affairs.
 
“The Cabinet has approved an expenditure of $1 trillion in the next five years on infrastructure development and 40% would come from private sector,” he told members of the Indian Journalists Association at the India House.
 
The minister was speaking after two rounds of meetings here with British investors.
 
The meetings follows the signing of a Memorandum of Understanding between the ministry of urban development, Government of India and the Department for Business, Innovation and Skills, UK on Co-operation on Urban Regeneration and Development, a couple of months ago.
 
Kamal Nath said a three-day seminar would be held in Delhi on Infrastructure Development shortly.
 
At the Round Table meeting held on Monday, Kamal Nath said India has decided to build Metros in all cities with a population of more than two million.
 
Kamal Nath met the Mayor of London Boris Johnson on Monday and discussed among other things “heritage protection management.”
 
Answering a question on Foreign Direct Investment (FDI), Kamal Nath said: “It was the BJP which had put up a Cabinet note on FDI in 2004. Our effort is to bring about a consensus on the issue and I believe our political parties are responsible. It is my effort to bring about a consensus on the issue.”
 
Britain’s foreign secretary, William Hague will be visiting India from 8 November 2012.
 
India’s High Commissioner to the UK Jaimini Bhagwati is leaving for New Delhi tonight in connection with Hague's visit.
 

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Barack Obama wins re-election: CNN

The 51-year-old first African-American president was projected by television channel CNN as having won the second term with 274 electoral votes

 
Washington: Barack Obama won a second term in office overcoming a stiff initial challenge from his Republican challenger Mitt Romney after clinching convincing victory in the crucial state of California, reports PTI.
 
The 51-year-old first African-American president was projected by television channel CNN as having won the second term with 274 electoral votes after exit polls gave him California in west coast which has 55 electoral votes.
 
It projected Romney has having secured 201 votes in an electoral college of 535 votes. The winner has to garner at least 270 votes.
 
Till California was called, Romney had a comfortable lead over the president. Another crucial state Florida saw a tight race between the two with a slight edge for Obama. Florida has 29 electoral votes.
 

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