Top 10 business headlines: 5G spectrum auction, Adani’s big plan, and more

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1. Telecom operators likely to get 16 years to pay for 5G spectrum

The Union government is examining the feasibility of allowing telecom operators an easier staggered payment route for the upcoming 5G spectrum auction in view of the financial stress in the sector. READ ON…

2. Financial services firms may raise record Rs 1.2 trn via QIPs this year

A clutch of financial services firms and companies involved in capital-intensive businesses are lining up for qualified institutional placements (QIPs) to shore up capital and retire debt. In the past few months, 45 companies have signalled their intent to raise money through the institutional placement route. READ ON…

3. Reliance Infra lenders sign debt resolution pact; stock jumps nearly 11%

Anil Ambani-promoted Reliance Infrastructure (RInfra) on Thursday said its lenders had entered into an inter-creditor agreement (ICA) to implement a debt resolution plan within six months. The announcement led to a rally in RInfra shares, which surged about 11 per cent to close at 51.05 on the BSE. READ ON…

4. Adani’s new ‘big money maker’ plan: Selling data services to Amazon, Google

A string of successful bets on ports, mining and commodities helped transform Gautam Adani from a nondescript diamond trader into a tycoon with a net worth of $10 billion. READ ON…

5. MCA may expand powers of regional directors for M&As of higher categories

The Ministry of Corporate Affairs is considering a proposal to expand the powers of regional directors to do mergers and acquisitions (M&As) of higher categories to bring down the burden on the National Company Law Tribunals (NCLTs), a senior government official told Business Standard. “We are trying to demystify and make it easier to do business,” said a senior government official. READ ON…

6. Cash-strapped DHFL gets 7 days to finalise and present a resolution plan

In a meeting on Thursday, lenders to the troubled housing finance company (HFC) Dewan Housing Finance Corporation (DHFL) agreed to allow the firm to finalise and present a resolution plan to the consortium within seven working days, said people in the know. READ ON…

7. High indirect taxes are hurting exports, Make in India initiative: Experts

Higher tariffs and taxes seem to be hurting India’s drive to raise the share of exports in gross domestic product (GDP) and push up economic growth. The recent poor performance of exports has been accompanied by a rise in the incidence of indirect taxes, which are now equivalent to 9.5 per cent of GDP net of subsidies. READ ON…

8. Skill-based gaming can help you make more than a living

About five years ago, online poker tournaments in India would typically have 50-60-odd players at a time. Yet, while the entire world was playing for millions on online poker sites, Indian poker players would struggle to find a game in Indian rupees or withdraw money from global poker websites. Today, online tournaments on websites, which are based in India, routinely deal legally in the Indian currency, and have thousands of players playing in tournaments and cash games.

9. Decision on Huawei’s participation in 5G trials based on security and economic interests: MEA

The government will take a call on whether to allow participation of Chinese telecom giant Huawei in the 5G trials based on the country’s economic and security interests, the Ministry of External Affairs (MEA) said Thursday.

MEA spokesperson Raveesh Kumar said there are several companies that have shown interest in the trial for 5G services.

10. Essar Steel: Miffed by NCLAT order, lenders may seek IBC amendment

Disappointed with the ruling of the National Company Law Appellate Tribunal (NCLAT) in the Essar Steel case, its lenders are mulling various options such as moving the Supreme Court and seeking an amendment to the Insolvency and Bankruptcy Code (IBC), reported The Hindu Buslinessline.



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