The Telecom Regulatory Authority of India (TRAI) today reiterated its recommendation to the I&B ministry that direct-to-home licenses be issued for a period of 20 years and then renewed for 10 years, and a one-time entry fee of Rs 10 crore be charged in the new DTH licensing regime. In July, 2014, the TRAI had made a number of recommendations regarding the issues related to the new DTH licensing regime.

A Reliance Industries-JM Financial Asset Reconstruction Company combine is the sole bidder for the bankrupt Alok Industries. Sources familiar with the transaction indicated the resolution plan submitted by the team would require lenders to take a fairly big haircut of between 80% and 85%. Against outstandings of close to Rs 30,000 crore, the RIL-JM Financial combine is understood to have agreed to put in Rs 4,000-4,500 crore. However, it could not be confirmed whether the committee of creditors (comprising lenders to the beleaguered company) had taken a decision on the proposal.

Disinvestment-bound Air India registered around 11% growth in revenue, as the airline’s fiscal and performance parameters were good in the last financial year, according to its chief Pradeep Singh Kharola. The loss-making national carrier also recorded 80% passenger load factor in 2017-18 amid the government preparing for its strategic disinvestment. Kharola said on Thursday that the performance parameters of the airline had been good in the last financial year.

Indian athletes Rakesh Babu and Irfan Kolothum Thodi are being sent home from the Gold Coast Commonwealth Games (CWG) after a needle was found in a cup in their bedroom at the Athletes' Village, the Commonwealth Games Federation (CGF) said on Friday.

Triple jumper Babu, race walker Thodi and three Indian team officials had appeared before a CGF hearing on Thursday, CGF President Louise Martin told reporters.

India is awaiting response from Hong Kong authorities on its request for provisional order of arrest of diamond merchant Nirav Modi, wanted in connection with the PNB loan fraud. Spokesperson of the Ministry of External Affairs, Raveesh Kumar, said India has requested the Hong Kong authorities to surrender Modi, based on the extradition agreement for surrender of fugitive offenders signed between the two sides in 1997.

The Central Bureau of Investigation (CBI) on Thursday questioned two international State Bank of India officials of deputy general manage rank in the Punjab National Bank scam estimated to be worth around Rs 13,910 crore. The agency refused to divulge names of the people who were questioned.

The Securities and Exchange Board of India (Sebi) has tightened norms pertaining to disclosure of performance track record of merged mutual fund (MF) schemes.

The market regulator on Thursday issued a circular for standardising performance disclosures following a merger of schemes.

Essar Oil UK, one of the leading downstream energy companies in the UK, which owns and operates Stanlow Manufacturing Complex refineries, has said it is planning to increase its jet fuel production as the country is moving towards having a large share of electric vehicles by 2040.

“Our share in the jet fuel business is going to increase. We are not looking at product diversification but plan to make higher value products,” said S Thangapandian, chief executive officer, Essar Oil UK.

GE Power on Wednesday announced the completion of first turnkey full flow wet flue gas desulphurization (WFGD) unit at state power giant NTPC’s 500 MW Super Thermal Power project site in Vindhyachal, Madhya Pradesh.

The FGD installation at Vindhyachal is the first limestone-based WFGD commissioned in an NTPC power plant suitable for continuous operation at 500 MW unit for 100 per cent gas flow, a GE Power statement said.

Double Olympic-medallist Sushil Kumar (74kg) and Rahul Aware claimed contrasting gold medals even as defending champion Babita phogat (53kg) settled for a silver on the opening day of the 21st Commonwealth Games' wrestling competition here today.

Sushil took a minute and 20 seconds to defeat Johannes Botha of South Africa on technical superiority to claim his third successive gold medal at the Games.

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