Reliance Industries is all set to make the country’s biggest global acquisition if it emerges as the successful bidder for bankrupt LyondellBasell - one of the world’s largest polymers, petrochemicals and fuels company. Reliance and LyondellBasell have issued statements confirming a “preliminary non-binding offer” to acquire “a controlling interest” in the world’s third largest independent chemical...
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British Telecom today revealed that profits for the first six months of the year plunged by 45 per cent and increased its cost-cutting target for the year from £1 billion to £1.5 billion.The company, which has already announced plans to cut 30,000 staff and has been working to turn around its Global Services division, said that profits for the six months to September 30 fell from £991 million last...
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Swedish telecoms group will cut 17% of its UK workforce and scale back its research and development headquartersEricsson is to axe up to 700 jobs, more than 17 per cent of its UK workforce, following a planned pull-out from its research and development headquarters in Coventry.The Swedish telecoms group has begun consultation with staff over the cuts, which form part of a SEK 10 billion (£873 million)...
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Reliance Industries is all set to make the country's biggest global acquisition if it emerges as the successful bidder for bankrupt LyondellBasell-- one of the world's largest polymers, petrochemicals and fuels company. Reliance and LyondellBasell have issued statements confirming a "preliminary non-binding offer" to acquire "a controlling interest" in the world's third largest independent chemical...
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government’s hopes ofraising Rs 30,000 crore from what will now be its second attempt to auction 3Gspectrum may prove ambitious with strong indications that global bidders arelikely to stay away from the auction ring.When contacted, FranceTelecom, Cable & Wireless and British Telecom confirmed they would not bebidding for 3G, while AT&T and Google declined to comment.It islearnt that even existing...
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wants to beef up the manufacture of telecom equipment in India to allay security concerns over the use of foreign devices.“A core group, comprising senior officials of the department of telecom (DoT), will be formed in the next two to three weeks to promote and oversee localisation of telecom equipment manufacturing in the country,” telecom minister A. Raja said after meeting the heads of mobile equipment...
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Telecom Minister A Raja is meeting the CEOs of telecom companies today, to discuss issues relating to improving rural tele-density and lowering of tariffs further among others.The meeting with the Unified Licence holders will discuss how the connectivity in rural India can be improved and what steps need to be taken to encourage operators to go there, Telecom Minister A Raja said.The government is...
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a surprisingly quick compromise, European Union leaders have named Belgian Prime Minister Herman Van Rompuy andespecially to select their first full time president and the High Representative for Foreign Affairs, new posts created by the Lisbon Treaty, which will come into force on 1Rompuy selected in a closed-door meeting would be the first permanent president of the world's largest economy and the...
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Vodafone is seeking an extension to Monday's deadline for a tax claim issued by India over the British mobile phone operator's $11.2 billion purchase of Hutchison Telecom's Indian operations in 2007."We are working with the tax office to obtain an extension to file a response to the show-cause notice," Vodafone said in a statement.On October 30, India's tax department issued the notice and said Vodafone...
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Vodafone has sought an extension until January 29 to reply to a tax claim notice issued last month by the Indian tax department, minister of State for finance SS Palanimanickam said on Friday in a written reply to question in parliament.On October 30, India's tax department issued the notice to Vodafone over its $11.2 billion purchase of Hutchison Telecom's Indian operations in 2007, and had said the...
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