Skype, Microsoft Corp's internet phone call and messaging service, has disappeared from app stores in China including that of Apple Inc, indicating the latest setback for a foreign tech service in the country.

Apple, responding to questions about Skype's absence, late on Tuesday said it had removed several internet phone call apps from its App Store in China after the country's government said they violated local laws.

Indicating that worst might be over for the telecom industry, all the top three incumbent operators added around 4.74 million subscribers during October.

Although Bharti Airtel has been adding customers regularly barring an odd month when the telco lost users, Vodafone and Idea Cellular have been losing subscribers for the past few months, causing their base to shrink a little.

The Telecom Regulatory Authority of India (Trai) has recommended relaxing the rules for spectrum-holding caps, a move that will benefit operators such as Vodafone and Idea Cellular to retain their airwaves after the merger as also allow other telcos to get more spectrum in a particular band.

Trai has recommended raising the 25 per cent overall spectrum limit to 35 per cent whereas the 50 per cent intra-band cap has been removed. In place of it, the regulator has proposed having a cap of 50 per cent on the combined spectrum holding in the sub-1 GHz bands (700, 800 and 900 MHz).

New Delhi, Nov 21 German luxury car maker Mercedes-Benz is driving towards India's smaller cities and towns to tap potential customers with an eye on tightening its grip on the country's premium automotive segment.

The company through its 'Brand Tour' covering 12 locations in India is seeking to offer 'Mercedes-Benz experience' to prospective buyers in Tier II and Tier III cities, where it doesn't have a direct presence.

Private sector lender YES Bank has raised $400 million in syndicated loans from lenders in Taiwan and Japan for on-lending to clients.

It exercised a greenshoe option to raise $250 million in a five-year commercial loan from 17 Taiwanese banks, a statement said. In Japan, it raised JPY 16.5 billion or $150 million from eight lenders in a one-year loan in a maiden transaction.

Shares of Reliance Communications soared over 14 per cent on Tuesday amid reports that lenders of the debt ridden firm have approved the sale of its real estate assets in Delhi and Chennai to a Canada-based company.

The stock surged 14.10 per cent to Rs 13.75 on BSE.

On NSE, shares of the company zoomed 14.10 per cent to Rs 13.75.

The overseas arm of Oil and Natural Gas Corporation ONGC Videsh will acquire 15 percent stake in offshore Namibia block from Tullow Oil.

OVL executed the deal through its subsidiary ONGC Videsh Vankorneft Pte Ltd,

ONGC Videsh (OVL) has signed definitive binding agreements with Tullow Namibia Ltd (Tullow), a wholly owned subsidiary of Tullow Oil plc, for acquiring 15 per cent participating interest in Namibia Petroleum Exploration License 0030 for Block 2012A and related agreements (License) from Tullow’s existing participating interest of 25% in the License, the company said in a statement.

Mumbai: The Securities and Exchange Board of India (Sebi) has formed a committee to hear cases of firms (and their directors) that have complained that they have been classified as shell companies because of technical errors, said two people with direct knowledge.

The panel will be a sub-committee of the capital market regulator’s secondary market and advisory committee (SMAC).

The Sensex struck a positive note today by jumping 154 points, in keeping with firm Asian shares.

Fresh capital kept the flow on in the wake of continued buying by domestic institutional investors amid positive global indicators.

Private sector spending should come back on track in 2019, SN Subrahmanyan, CEO and MD of Larsen and Toubro, said on Monday. Speaking to a business news channel, Subrahmanyan said L&T’s working capital cycle has taken a beating is partly because private sector investments had gone into a shell over the previous two-three years and also owing to increased dependence on government projects which at times have financial hold backs for a minimum three months to clear. The company’s working capital cycle has jumped to 22%.

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