Companies & Sectors
Vodafone India to roll out 4G by 2015 end
Vodafone India will launch its 4G services by end of 2015 in "important data markets" including Mumbai, Delhi, Kolkata, Bengaluru and Kochi, a company statement said here on Friday.
 
In addition, Vodafone India will also roll out its own 3G networks in another seven circles -- Assam, the northeast, UP West, Rajasthan, Karnataka, Kerala and Odisha -- to expand its overall 3G footprint across the country.
 
"Testing of 4G services has commenced successfully. Vodafone India has partnered with leading global technology infrastructure service providers for the network roll-out," the statement said.
 
"With some of the latest technological developments on the anvil; Vodafone is building a robust and resilient network architecture with a strong backhaul to support the volumes and need for speed from customers," it added.
 
Vodafone India acquired additional 4G (LTE) spectrum in five circles - Mumbai, Delhi, Kolkata, Kerala and Karnataka in the February 2014 auction. These circles together contribute close to 50 percent of the total data revenue for Vodafone India.
 
In 2014-15, Vodafone India rolled out over 23,000 sites taking its overall network footprint to more than 131,000 sites.
 
The company said that over the last few months, it has taken several steps to modernise its radio network and switching systems.
 
Charging platforms have been upgraded to facilitate a wider bouquet of products and services. 
 
Major investments have also been made in high-capacity fibre or backhaul to significantly increase the internet connectivity to the rest of the world.
 
The company said it remains committed towards making significant investments in network expansion and enhancing overall customer experience.
 
Globally, Vodafone has launched 4G in 18 countries. There are over 20 million 4G customers across the group.
 

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US economy grows above anticipation in Q2
The US Commerce Department on Thursday revised up its estimate for the real gross domestic product (GDP) in the second quarter to a growth of 3.7 percent, beating market expectations that growth should have bounced back only mildly from a meager growth in the chilly spring.
 
The second estimate for the GDP growth in the second quarter was much higher than an advance estimate of 2.3 percent. In the first quarter, the growth rate was 0.6 percent as the wintry weather sapped activities, reported Xinhua.
 
The upward revision reflected upturns in nearly every category that comprised of the economic output, particularly consumer spending and exports.
 
The personal consumption expenditure (PCE), which accounts for 70 percent of the economic output, increased 3.1 percent in the second quarter, compared with a growth of 1.8 percent in the first quarter.
 
Exports surged 5.2 percent after contracting 6 percent in the first three months. Private business investment, which was weighed down by reduced oil-related investment in the wake of oil price declines, is now estimated to have grown in the second quarter.
 
Analysts said the new report shows the economic path for the US economy is following a similar route to last year when a dismal first quarter was followed by much stronger numbers in the rest of the year.
 
With the US economy and job market gaining steam, the Federal Reserve is calibrating on the timing of lifting off the interest rate which has stayed zero since the outbreak of the financial crisis.
 
At Fed's latest monetary policy meeting, most of Fed officials believed conditions for tightening monetary policy were approaching, although they failed to give clear signals on the timing of the first interest rate hike in nearly nine years.
 
With the volatility in the global financial markets and economic slowdown in major emerging markets unfolding, analysts postponed their expectation for the first lift-off from this September to December or even early next year.
 
The precarious external condition is also expected to be factored into the US economy in the third quarter. Mark Zandi, chief economist at Moody's Analytics, expects the economy will slow to a growth of about 2.8 percent in the third quarter but accelerate to a 3.5 percent growth in the fourth quarter, if the recent market turbulence does not have lasting damage on the economy.
 
The final estimate of the GDP in the second quarter will be released on September 25. 

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