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Rupee drops to 2-week low as risk aversion mounts
The rupee fell to a two-week low on speculation that foreign funds will trim their holdings of local assets, as interest rates are raised to contain inflation.

FDI in telecom zooms up to Rs 9,815 cr in H1
The inflow of foreign direct investment (FDI) in the Indian telecom sector has shot up to Rs 9,815 crore in the first half of the current financial year, the Lok Sabha was informed today.

News of the day

Latha Jishnu: The campaign against that pesky 3 (d)
For the Americans (and some Europeans) it’s “that pesky section”. And the US government is throwing its weight behind an industry campaign to discredit this section if not get it removed from India’s Patent Act. Yes, of course, it is Section 3(d) that is under attack from big pharma which has lost no opportunity in pointing out that this law will stifle the growth of India’s own drug companies and also choke off foreign investment in the sector. In recent weeks, this campaign has picked up in tempo both here and abroad.
Public Relations

SC admits appeal of Cellular Operators Association

The Supreme Court today admitted the appeal of the Cellular Operators Association of India (COAI) against the order of the Telecom Disputes and Settlement and Appellate Tribunal (TDSAT) in the controversy over dual spectrum allocation policy. - Mobile operators differ on hike in 3G spectrum base price - India adds 8 mn GSM users - India adds over 8 mn GSM mobile users in May - Telcos to pay part of disputed dues before filing case - Raja starts on a discordant note - DoT asks telcos to give list of issues to new govt The tribunal had rejected the petition of the operators and held in March this year that the licence conditions did not grant them a vested right up to 15 MHz. It held that the operators did not have any vested right to receive GSM spectrum beyond 6.2 Mhz. There was no malafide and denial of level playing field, the tribunal’s judgment had said. The Supreme Court bench consisting of Justice Altamas Kabir and Justice Cyriac Joseph, after hearing the operators, also issued notice to the Telecom Authority of India, Reliance Communications Ltd, Tata Teleservices Ltd and other telecom companies. The court will hear the case after the parties file their pleas within a month.


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