Weekly news (4th oct – 9th oct


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Weekly news (4th oct – 9th oct

  1. 1. By: Nitin Kochhar<br />MBA 2C<br />Weekly NEWS (4th Oct – 9th Oct)<br />
  2. 2. GSM cos agree to cut call-moving charges<br />Leading GSM operators have dropped their opposition against reducing call termination charges.<br />Termination charges is the fee mobile phone companies pay each other for moving calls between networks.<br />Last year, TRAI had slashed this fee by a third and the move was heavily criticised by leading GSM players such as BhartiAirtel , Vodafone Essar and Idea Cellular as they feared that this would further impact their revenues and profitswith a further cut in call rates.<br />
  3. 3. Contd…<br />Currently, if an Airtel subscriber calls a Vodafone user, Airtel is liable to pay 20 paise per minute to Vodafone as termination charges.<br />India is divided into 22 telecom circles, and calls within a circle are carried only by BSNL, which charges 15 paise per minute for it.<br />
  4. 4. OBC, BoI raise base rate by 50 basis points to 8.5 pc<br />State-owned Oriental Bank of Commerce and Bank of India today their hiked base rate, below which banks can't offer loans, by 50 basis points to 8.5 per cent. <br />With the increase in base rate all kinds of loans, including housing, auto and education become dearer by at least 50 basis points (0.5 per cent). <br />Since last week, 11 banks, including ICICI, HDFC, PNB, IDBI Bank and Allahabad Bank have hiked their base rates by up to 50 basis points.<br />Deposit rates and consequently cost of funds have increased, necessitating an increase in the base rate<br />
  5. 5. Reliance Retail works out JV with Toys ‘R’ Us<br />After bringing an iconic two and half century old toy brand ‘Hamleys’ from UK, MukeshAmbani led Reliance Retail is now close to signing a joint venture agreement with world’s leading toy retailer ‘Toys ‘R’ Us’.<br />The New Jersey headquartered ‘Toys ‘R’ Us’ has an annual revenues in excess of $ 13 billion and owns the world’s largest toy store at New York City’s Times Square.<br />The company has more than 800 supermarkets in the US alone and another 700 spread over 34 conutries globally.<br />
  6. 6. Contd…<br />The market worth Rs 6000 crore is highly untapped but now global players like Simba Toys and Ty Inc among others are betting big on the Indian market.<br />Reliance Retail already have a slew of joint ventures including UK’s apparel Marks & Spencer, Dutch optical major Pearle Europe, Italian men wear brand ErmenegildoZegna Group and US based Apple Inc, among others.<br />Reliance Retail had revenues in excess of Rs 4500 crores, and it operates nearly 1150 stores, in 86 cities across 14 states for the financial year ending 31st March 2010.<br />
  7. 7. Thank you<br />