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News digest: ThyssenKrupp-Tata JV, telcos health, housing stimulus and more
From ThyssenKrupp-Tata JV to no revenue growth for incumbent telcos, BS brings you up to speed with latest news
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Last Updated : Jan 07 2018 | 3:24 AM IST
ThyssenKrupp, Tata in 50:50 JV to form Europe's second-largest steel firm
German steel maker ThyssenKrupp and Tata Steel have agreed to form an equal joint venture that would create Europe’s second-largest steel firm, after ArcelorMittal. Tata Steel has said it would shift € 2.5 billion of its debt to the new entity. ThyssenKrupp would also be shifting its liabilities worth € 3.6 billion that it had gathered from its pension schemes. Read more
Stimulus package in the works: Focus may be on affordable housing
The government could use the affordable housing route to help the economy out of the blues and generate jobs. Social sector schemes could also be revised to boost demand and rev up the slowing economic growth, sources said. Read more
No revenue growth for incumbent telcos in FY18
The cut in interconnect usage charge (IUC) to 6 paise per minute is a Rs 3,500 crore bonanza for the Mukesh Ambani-promoted Reliance Jio, estimate industry experts. The newest entrant in the telecom space is the largest beneficiary of the decision by the Telecom Regulatory Authority of India (TRAI) to cut the IUC by 57 per cent from 14 paise per minute for mobile to mobile calls. Read more
Automobile parts makers scurry to upgrade components
Automobile component major Sona group has hired a head of technology in order to help it negotiate changes the advent of electric vehicles would bring to its business. “The component industry will go through a major disruption. We need to be prepared before it hits us,” says Chief Executive Officer Sunjay Kapur. Read more
Policy makers discuss ways to boost economy
As the Narendra Modi government plans measures to boost economic growth and create jobs, economists and business fora say it will have to continue its strong spending spree, perhaps at the cost of fiscal deficit targets, to create an enabling environment for the private sector to come in again, and take a hard look at viable but stuck infrastructure projects. Read more
Stimulus package in the works: Focus may be on affordable housing
The government could use the affordable housing route to help the economy out of the blues and generate jobs. Social sector schemes could also be revised to boost demand and rev up the slowing economic growth, sources said. Read more
No revenue growth for incumbent telcos in FY18
The cut in interconnect usage charge (IUC) to 6 paise per minute is a Rs 3,500 crore bonanza for the Mukesh Ambani-promoted Reliance Jio, estimate industry experts. The newest entrant in the telecom space is the largest beneficiary of the decision by the Telecom Regulatory Authority of India (TRAI) to cut the IUC by 57 per cent from 14 paise per minute for mobile to mobile calls. Read more
Automobile parts makers scurry to upgrade components
Automobile component major Sona group has hired a head of technology in order to help it negotiate changes the advent of electric vehicles would bring to its business. “The component industry will go through a major disruption. We need to be prepared before it hits us,” says Chief Executive Officer Sunjay Kapur. Read more
Policy makers discuss ways to boost economy
As the Narendra Modi government plans measures to boost economic growth and create jobs, economists and business fora say it will have to continue its strong spending spree, perhaps at the cost of fiscal deficit targets, to create an enabling environment for the private sector to come in again, and take a hard look at viable but stuck infrastructure projects. Read more