India News

Trai walks a tightrope on OTT regulation

It won’t be a cakewalk for the telecom regulatory authority of India (Trai) which will soon address a long pending issue between the industry and over the top (OTT) players including WhatsApp, Skype, Google Duo among others.

The bone of contention is whether any regulatory imbalance exists between the two segments. While some say OTT industry should be regulated, others think that there needs to be a light touch regulation considering the fact that telecom networks are capital intensive.

Ashok Chawla steps down as non-executive chairman of YES Bank

Two members of the board of directors at YES Bank have resigned with immediate effect — Ashok Chawla, its non-executive chairman, and Vasant Gujarati.

The bank, fourth largest among private lenders, has appointed Uttam Prakash Agarwal, a chartered accountant, as an independent director in place of Gujarati. The appointment will have to be confirmed at the next shareholder meeting.

Fuel stock at ten NTPC power plants fall to zero

KOLKATA: Ten out of 24 thermal power stations of India’s largest power generation company, NTPC, are stranded with zero fuel inventory or stocks that won’t last a day.

This has hit generation and revenue as the state-run firm is unable to cater to higher demand, company executives said.

California wildfire: 50 dead, thousands of firefighters battle blazes

Thousands of firefighters battled blazes in northern and southern California on Tuesday as body recovery teams searched the remains of houses and charred cars for victims of the deadliest wildfire in the history of the US state.

At least 50 deaths have been reported statewide so far from the late-season wildfires, and with hundreds of people unaccounted for, the toll is likely to rise.

Sensex, Nifty pare early gains on profit-booking

Mumbai: The BSE benchmark Sensex on Wednesday turned choppy on profit-booking, after surging over 200 points amid persistent fall in global crude prices amid easing concerns over rising current account deficit and inflation.

The 30-share Sensex was trading 14.78 points lower at 35,129.71, after it spurted 201 points, or 0.57 per cent, to 35,345.49 points in opening session. The gauge had gained 332 points on on Tuesday.

Amazon’s Audible debuts with 400 Indian titles

Mumbai: Global audiobooks market leader Audible launched its first Indian title on Tuesday, marking its formal entry into the country. The audio adaptation of Mafia Queens of Mumbai, a 2011 crime thriller by Hussain Zaidi and Jane Borges, was revealed at Mumbai’s Royal Opera House as a spoken word excerpt performed by actors Rajkummar Rao, Radhika Apte and Kalki Koechlin.

Essar Steel case: Operational creditors move NCLT against ArcelorMittal

Around 29 operational creditors to Essar Steel have moved the Ahmedabad bench of the National Company Law Tribunal (NCLT) against the resolution plan submitted by ArcelorMittal and passed by the committee of creditors (CoC).

The claims of these 29 creditors together add up to around RS 607 crore. Of these, 27 creditors including major ones —Ideal Movers, Kamaljeet Ahluwalia, Arfin India, Sakar Industries and Apex Commodities — have made a claim of Rs 360.39 crore on Essar Steel.