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April 9: Glimpses of the day
April 9: Glimpses of the day
Telecoms Minister Kapil Sibal gestures during a news conference in New Delhi.
rnMerger and acquisition rules in the Indian telecoms sector should be relaxed, the telecoms minister said on Monday, a move that would help consolidation in the crowded market.rn
Kapil Sibal did not explain how the regulations would be eased, but said the number of players in each telecoms zone should not fall below six, including the state-run operator.
rnUnder current rules one company is not allowed to hold 10% or more in two competing operators in a telecoms zone. Also, new licensees are not allowed to sell out and exit within three years of operations.
When two operators merge their combined revenue or subscriber share is not allowed to exceed 40% of the total revenue and subscribers in that zone.
A labourer wipes sweat from his forehead as he works in a wheat field on the outskirts of Jammu.
India's empowered group of ministers will decide whether the country should allow exports of wheat this year, Food Minister K.V. Thomas said on Monday.
rn"The decision on wheat exports will take some time ... The empowered group of ministers will finally take a call on this issue," Thomas said.rn
India is the world's second-biggest producer of wheat and is heading for a record harvest this year, with silos already overflowing.rn
Junior Farm Minister Arun Yadav said in March a decision on exports could come as early as this month.
The NASDAQ market seen in New York's Times Square February 8, 2010.
Nasdaq OMX Group and Intercontinental Exchange responded late Sunday to NYSE Euronext's rejection of their joint proposed bid, reaffirming that their cash and stock offer is superior to the offer submitted by rival Deutsche Boerse AG.
NYSE on Sunday said it was sticking with its deal with Deutsche Boerse, calling the rival offer from Nasdaq OMX Group too risky and counter to the Big Board's vision.
The NYSE board's decision smacks the ball back in the court of Nasdaq, which with partner IntercontinentalExchange Inc will have to decide whether to appeal directly to NYSE shareholders, raise the $11.3 billion bid, or walk away.
Perhaps setting the tone for what could be a drawn-out bidding process, NYSE Euronext Chief Executive Duncan Niederauer criticized Nasdaq's unsolicited bid as hollow and undefined, saying it would unacceptably carve up his trans-Atlantic exchan
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