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After the website Magicapk.com posted subscriber data of <keyword id="6354504" type="UNKNOWN" weightage="100" keywordseo="Reliance-Jio">Reliance Jio</keyword> customers, including email IDs, names and Aadhaar numbers on the website, Reliance <keyword id="2003276" type="UNKNOWN" weightage="20" keywordseo="Jio">Jio</keyword> has approached the law enforcement agencies in order to take strict action against the website. The website was suspended hours after the initial reports of the data being posted on the website on Sunday. 
 <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword> led Reliance Jio is the newest entrant in the telecom sector in the country and already has 120 million subscribers. If all data have been compromised it can be the biggest data breach in the country. So, the website would reply to all queries made through the website for Jio numbers with information of the subscriber’s name, email IDs and Aadhaar detail. 
 
A Jio spokesperson said that they have informed law enforcement agencies and that the data appeared to be “unauthentic”, “We have come across the unverified and unsubstantiated claims of the website and are investigating it. Prima facie, the data appears to be unauthentic. We want to assure our subscribers that their data is safe and maintained with highest security. Data is only shared with authorities as per their requirement. We have informed law enforcement agencies about the claims of the website and will follow through to ensure strict action is taken,” said the spokesperson. 
 Reliance Jio is one of the biggest 4G player in the country. Jio’s entry in the telecom space was one of the most awaited news in the telecom sector. But the entry was not completely without roadblocks. Even before Jio launched its services commercially on 5th September 2016, Jio has been involved in a war of words with the other telecom operators including <keyword id="15491" type="COMPANY" weightage="20" keywordseo="Airtel">Airtel</keyword> and <keyword id="15492" type="CITY" weightage="20" keywordseo="Vodafone">Vodafone</keyword> over Jio’s free services.

Reliance Jio approaches law enforcement agencies over data breach

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><a href="http://pictures.reuters.com/C.aspx?VP3=SearchResult&amp;VBID=2C0BXZZU205JO&amp;SMLS=1&amp;RW=1440&amp;RH=674#/SearchResult&amp;VBID=2C0BXZZU205JO&amp;SMLS=1&amp;RW=1440&amp;RH=674&amp;POPUPPN=1&amp;POPUPIID=2C0408T5D29W2">REUTERS/Bobby Yip</a>China Telecom's Chang Xiaobing.</div></div></div>Chang Xiaobing, CEO of state-owned telecoms giant China Telecom, resigned after becoming the latest Chinese executive to go missing amid a nationwide crackdown on corruption led by the government.President and Chief Operating Officer Yang Jie will take on the role of CEO until the board of directors comes to an agreement on an official appointment, <a href="http://www.bloomberg.com/news/articles/2015-12-30/china-telecom-chairman-resigns-after-being-targeted-in-probe-iisogdm6">according to Bloomberg News.</a><a href="http://yuanchuang.caijing.com.cn/2015/1227/4041447.shtml">Beijing-based independent magazine Caijing reported on Sunday</a> that Xiaobing was "lost" and uncontactable via mobile phone. The report said he had been "taken away because of serious disciplinary review" and features a picture claiming to show his office has been sealed.<a href="http://www.trust.org/item/20151227092058-4ai3e">A separate article from the Thomson Reuters Trust reports</a> that China's Central Commission for Discipline Inspection says in a statement on its website that Xiaobing is "suspected of serious violation of discipline."Chinese President Xi Jinping is leading a <a href="http://uk.businessinsider.com/the-chinese-anti-corruption-campaign-has-hit-beijing-2015-11">wide-ranging crackdown on "graft" and corruption</a> in all areas of Chinese life. As part of that, <a href="http://uk.businessinsider.com/chinese-financial-executives-keep-going-missing-2015-12">many top Chinese executives have been going "missing"</a> - taken away swiftly and unexpectedly by authorities to answer questions.Under President Xi Jinping, the anti-corruption investigations have involved more than 100,000 officials.The most high-profile person to date has been Guo Guangchang, <a href="http://uk.businessinsider.com/chinese-billionaire-guo-guangchang-unreachable-caixin-says-2015-12">the Chinese investment billionaire </a><a href="http://uk.businessinsider.com/chinese-billionaire-guo-guangchang-unreachable-caixin-says-2015-12">known as "China's Warren Buffett."</a> His investment group, Fosun, owns Club Med and Cirque du Soleil among others.Xiaobing was <a href="http://www.marketwatch.com/story/china-telecom-names-chang-xiaobing-as-ceo-2015-09-01">named CEO and chairman of China Telecom in September</a>, joining from rival China Unicom. Caijing reports that the investigation is believed to relate to Xiaobing's time at China Unicom.China Telecom is the biggest fixed-line phone provider and the third-biggest mobile provider in China. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/canadian-startup-sells-canned-air-china-2015-12">The smog in China is so bad that people are actually buying bottled air from Canada</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="NpeXRreTrAx1qKajdI_a7tsh1QFDcmKP" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

China Telecom's CEO resigned after going missing in a corruption crackdown

In what would become India’s largest telecom merger, <keyword id="15492" type="CITY" weightage="20" keywordseo="Vodafone">Vodafone</keyword> India and Idea Cellular is pushing for individual tower sale at the earliest. The two telecom majors, according to Economic Times news report, have mandated Morgan Stanley and <keyword id="189016" type="CITY" weightage="20" keywordseo="Bank-of-America-Merrill-Lynch">Bank of America-Merrill Lynch</keyword> to finalize buyers for their towers. Vodafone India has 11,000 odd towers in India, while Idea has 9,900 captive towers. The merger will likely be completed by 2018. Once done, Vodafone-Idea would become the biggest telecom company in India, while the current market leader <keyword id="6354287" type="CITY" weightage="20" keywordseo="Bharti-Airtel">Bharti Airtel</keyword> will be pushed back. The ET report also says that Vodafone has asked Morgan Stanley to figure out potential buyers for its 42% stake in <keyword id="6375231" type="COMPANY" weightage="20" keywordseo="Indus-Towers">Indus Towers</keyword>. This tower company is a three-way joint venture between Vodafone, Bharti Infratel and Idea. Earlier Vodafone UK had kept Indus Towers outside the proposed <keyword id="4322447" type="UNKNOWN" weightage="100" keywordseo="vodafone-india-idea">Vodafone India-Idea</keyword> merger.

Vodafone India-Idea merger on fast track: Individual towers to be sold at the earliest

It was the biggest-ever airwave auction in India and it jump started with bids worth Rs 53,531 crore. Reportedly telecom companies showed interest in all frequency bands except the premium 700 Mhz and 900 Mhz bands. 
 
The auction of airwaves saw total bids worth around Rs 53,531 crore at the end of five rounds of bidding, official sources told a news agency. The spectrum auction will resume on Monday. 
 
In the five rounds conducted today, operators showed high level of interest in spectrum bands of 1800Mhz, that can be used for delivering 2G/4G services, followed by 2100Mhz (3G/4G) band, 2500 Mhz (4G) band, 2300 Mhz (4G) and 800 Mhz (2G/4G) bands. 
 According to data released by the <keyword id="62528" type="ORGANIZATION" weightage="20" keywordseo="Department-of-Telecom">Department of Telecom</keyword> after the close of Day-1 bidding round, most of the action was seen in 1800Mhz band - earlier known as 2G spectrum - with bidding in 19 of 22 telecom circles including Delhi, Mumbai, <keyword id="6354925" type="COMPANY" weightage="20" keywordseo="Kolkata">Kolkata</keyword>, Gujarat and UP (East and West). 
 Companies including <keyword id="6354287" type="CITY" weightage="20" keywordseo="Bharti-Airtel">Bharti Airtel</keyword>, Vodafone, <keyword id="6354924" type="PERSON" weightage="20" keywordseo="Idea-Cellular">Idea Cellular</keyword> and <keyword id="6354504" type="UNKNOWN" weightage="20" keywordseo="Reliance-Jio">Reliance Jio</keyword> are in the race to arm themselves with spectrum to maintain competitive edge in providing quality and next generation mobile services to consumers. 
 The 2100 Mhz used for 3G services saw demand in 9 out of 22 telecom circles including Delhi, Rajasthan, <keyword id="30033" type="COMPANY" weightage="20" keywordseo="Bihar">Bihar</keyword>, and UP East. 
The spectrum band of 2300Mhz and 2500Mhz which went under the hammer after six years also witnessed demand in various circles. The 800 Mhz band saw activity in circles of Gujarat, Punjab, UP (East) and Rajasthan. 
 
<a href="http://www.businessinsider.in/India-biggest-spectrum-auction-what-can-consumer-expect/articleshow/54629274.cms">Also Read: Here's everything you need to know about telecom spectrum</a>

The biggest-ever
airwave auction in the country has yielded Rs 53,531 crores on Day 1

Seoul, <keyword id="141985" type="COMPANY" weightage="20" keywordseo="SK-Telecom">SK Telecom</keyword>, which is <keyword id="5565" type="LOCATION" weightage="20" keywordseo="South-Korea">South Korea</keyword>'s top wireless provider, said on Thursday it has partnered with <keyword id="141088" type="COMPANY" weightage="20" keywordseo="Amazon-Web-Services">Amazon Web Services</keyword> (AWS) to launch the country's first 5G edge cloud service. The business-targeted service, named SKT 5GX Edge, provides users ultra-low latency for data-intensive services by connecting to <keyword id="10487122" type="COMPANY" weightage="20" keywordseo="aws-wavelength-zones">AWS Wavelength Zones</keyword> installed in SK Telecom's telecommunications offices, making it unnecessary for traffic to go through regional aggregation sites, according to the <keyword id="345443" type="COMPANY" weightage="20" keywordseo="Carrier">carrier</keyword>. SK Telecom said it expects SKT 5GX Edge to improve services such as video streaming, games and machine learning, reports Yonhap news agency. The mobile carrier said it has worked with AWS since February this year, while also collaborating with 20 other companies to test the service, such as with food delivery giant <keyword id="10487121" type="COMPANY" weightage="20" keywordseo="woowa-brothers-corp-">Woowa Brothers Corp.</keyword> for an autonomous food delivery robot. The two companies have set up infrastructure for the service in the central city of Daejeon, 140 kms south of Seoul, and plan to expand into the country's capital and other areas next year. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-mrs-bectors-ril-bharti-airtel-vodafone-idea-ilfs-interglobe-aviation-future-group-deepak-nitrite-jubilant-foodworks-and-others/articleshow/79933826.cms">Top stocks to watch – Mrs Bectors, RIL, Bharti Airtel, Vodafone Idea, IL&amp;FS, InterGlobe Aviation, Future Group, Deepak Nitrite, Jubilant FoodWorks, and others</a> <a href="https://www.businessinsider.in/business/corporates/news/india-will-have-to-pay-cairn-1-2-billion-ending-one-of-the-biggest-tax-disputes-of-the-decade/articleshow/79934284.cms">India will have to pay Cairn $1.2 billion ending one of the biggest tax disputes of the decade</a> <a href="https://www.businessinsider.in/stock-market/news/mrs-bectors-food-ipo-investors-saw-their-money-double-on-listing-day/articleshow/79934860.cms">Mrs Bector’s Food IPO investors saw their money double on listing day</a>

South Korea's SK Telecom joins hands with AWS to launch 5G edge cloud service

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Reuters/Philippe Wojazer</div></div></div>Patrick Drahi, the billionaire founder of telecoms company Altice, is back on the acquisition trail.The European company has struck a $17.7 billion deal to buy Cablevision, becoming the fourth biggest cable operator in the US.That is just the latest in a series of deals by the ambitious company.It struck a deal to buy US cable group Suddenlink earlier this year, and considered a deal with Time Warner Cable.Back in Europe, it bid for local rival Bouygues. In 2014, it acquired assets in Brazil from Portugal Telecom and agreed a deal to buy local rival SFR for $23 billion.He now has his heart set on the US market. Altice has successfully deployed what is called a quadruple-play model in Europe, bundling fixed and mobile phone, internet and cable TV together in one service."My vision is to do the same in the US, but bigger," he told <a href="http://www.wsj.com/articles/little-known-french-billionaire-circles-u-s-cable-market-1436495497">Ruth Bender at The Wall Street Journal this summer.</a>Here is everything you need to know about the billionaire that is likely to be front page news in America.

Meet the French entrepreneur intent on a multi-billion dollar dealmaking spree in the US

<ul><li>Refining margins have been muted last few months due to the fall in demand for oil products.</li><li>Oil product demand growth stalled to nearly zero and there is oversupply of gasoline and naphtha, Morgan Stanley said.</li><li>Petrochemicals are the biggest contributor to Reliance Industries' turnover and profits.</li><li>However, the increasing traction for its telecom vertical Jio as well as the retail business may provide some relief.</li></ul> Refining margins have been muted last few months due to the fall in demand for oil products. And that is bad news for Reliance Industries, which will announce its quarterly earnings on Friday, where petrochemicals is the biggest contributor to the company's revenue and profit. However, the increasing traction for its telecom vertical Jio as well as the retail business may provide some relief to Chairman Mukesh Ambani, who has often said in the recent past that "data is the new oil". Oil product demand growth stalled to nearly zero and there is oversupply of gasoline and naphtha, Morgan Stanley said in a report on July 10. According to research firm CGSCIMB, margins from petrochemicals have dropped sharply since April 2019 and the decline has been sharpest in paraxylene, which has flowed through across the polyester chain. That would mean the decline in profit would be pronounced in Reliance mainstay business, the report added. However, Jio and Reliance Retail may come to the rescue, at least partially. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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 The fear of slump in one of the important business segment has weighed on Reliance's share price in recent months. Even on Thursday (July 18), a day before the company declares the quarterly earnings, the stock of Reliance Industries fell over a percent, that's a loss of over a billion dollars in investor wealth. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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 While Jio may be the rising star in Reliance Industries portfolio spanning from oil and gas exploration to petrochemicals to retail, the telecom venture brings its share of anxiety to the investor's mind-- debt. The company's total debt has increased over 58% in the last two years largely due to the investments made in Jio as well as the cash burnt in winning over the millions of customers. "RIL reported that its consolidated effective net debt reduced by ₹990 billion at end-FY19 due to a demerger of its telecom assets to an special purpose vehicle (SPV). However, the expected financing of the SPV by an Infrastructure Investment Trust (InvIT), which would bring in new investors, is yet to materialise," the CGS CIMB report said. 
 
 
 
 
 
 
 
 
 
 
 
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 SEE ALSO: <a href="https://www.businessinsider.in/mukesh-ambanis-reliance-jio-may-go-public-next-year-as-debt-for-discounts-starts-to-bite-and-5g-era-beckons/articleshow/69885410.cms">Mukesh Ambani’s Reliance Jio may go public next year as debt for discounts starts to bite and 5G era beckons</a> <a href="https://www.businessinsider.in/mukesh-ambani-and-anil-ambani-may-restart-reliance-communications-deal-talks/articleshow/70253856.cms" data-type="tilCustomLink" target="_blank">Mukesh Ambani may now have a reason to buy Anil Ambani's bankrupt RCom, say reports</a> <a href="https://www.businessinsider.in/anil-ambani-goes-from-yacht-to-almost-jail-to-bankruptcy/articleshow/69835915.cms">Anil Ambani may not be a billionaire anymore — here's how he lost it all in just a decade</a>

Mukesh Ambani's Reliance Industries may get some comfort from Jio and Reliance Retail as profits from petrochemicals may slip

<keyword id="1857762" type="UNKNOWN" weightage="60" keywordseo="Business-Insider-India">Business Insider India</keyword> has seen an extremely happening and fruitful year in 2015-16 and has therefore taken to expanding its editorial team and is now hiring for many exciting roles across Delhi and Bangalore. Pay packages will be competent with the industry and designations are negotiable basis experience and capabilities. 
 
All applicants must possess the following skills: 
 
· 3-5 years relevant experience 
· Ability to write impeccable, conversational copies that are smart, engaging, timely, and accurate 
· Creative, outside-the-box thinker 
· A knack for finding new and interesting stories within beats 
· Ability to stay organized, meet deadlines, and work well under pressure, while adapting to fast-paced organizational changes 
· Understand Business Insider’s audience and writing style 
· Experience using Photoshop and content management systems is a plus, but not required 
 
Startup and IT Correspondent 
Location: Bangalore 
· 3-5 yrs experience covering StartUps and the IT Sector 
· Ability to break news and write out of the box stories from within the beat 
· A good hold and understanding of developments in most companies based out of Bangalore 
· In-roads in to top and mid-management levels of all big IT companies 
· Writing interesting human stories from these companies 
· Ability to closely track and report on all trends and happening in start-ups 
· Covering IT and Start-Up events in Bangalore 
 
Economy and Finance Correspondent 
Location: Delhi 
· 3-5 yrs experience covering economic and financial sector developments 
· In-roads in to the Finance Ministry for all big economy/financial policy related news 
· In-roads into most big Banks to track and report on key developments in the sector and the Banks 
· Ability to write knowledgeably about big policy changes and financial sector news and their impact on the common man 
· Ability to write about the state of the economy and impact of global economic conditions on India 
 
Tech Correspondent 
Location: Delhi 
· 3-5 yrs experience covering developments in the technology sector 
· In-roads into NASSCOM to break news regarding new innovations and developments in the sector, including writing about start-ups in this sector 
· In-roads into Telecom Companies to write about the biggest developments in the companies and sector 
· In-roads into the IT and Telecom Ministry to write informed articles about policy decisions like Net Neutrality and their impact on the industry 
· A good understanding of the latest and biggest consumer gadgets launched/to-be launched and writing about them from the consumer’s point of view, not that of a gadget geek. 
 
Politics Correspondent 
Location: Delhi 
· 3-5 yrs experience covering politics and political parties 
· In-Roads in to BJP and Congress for writing opinionated pieces on latest developments 
· A good understanding of how economic policies impact politics to write informed analytical pieces on the developments 
· Ability to understand and write informed, analytical pieces during Parliament sessions and elections 
 
If you are interested in applying, send your Resume and a Cover Letter of 400 words to Debdatta.Das@timesinternet.in 
 
<a href="http://supremediesel.ca/files/supreme/imagecache/full-width/we_are_hiring_0.png">Image Source</a>

Business Insider India is Hiring

<ul><li>The <keyword id="115417" type="CITY" weightage="20" keywordseo="New-York-Stock-Exchange">New York Stock Exchange</keyword> (NYSE) reversed its course and has decided to refrain from delisting <keyword id="154965" type="CITY" weightage="20" keywordseo="China-Telecom">China Telecom</keyword>, <keyword id="133270" type="CITY" weightage="20" keywordseo="China-Mobile">China Mobile</keyword>, and <keyword id="7727304" type="UNKNOWN" weightage="20" keywordseo="china-unicorn">China Unicorn</keyword>.</li><li>This goes against the Trump administration’s order for American companies to cease business relations with Chinese companies allegedly providing aid to the military, which will come into effect on January 11. </li><li>The shares of three of China’s biggest telecom companies have rallied on the Hong Kong Stock Exchange (HKD) by more than 5%.</li></ul>The New York Stock Exchange (NYSE), the largest stock exchange in the world worth over $22 trillion, no longer plans to delist China Telecom, China Mobile, and China Unicom. It had initially planned to drop the three Chinese telecom giants to comply with the <a href="https://www.whitehouse.gov/presidential-actions/executive-order-addressing-threat-securities-investments-finance-communist-chinese-military-companies/">executive order </a>doled out by President <keyword id="6354484" type="PERSON" weightage="20" keywordseo="Donald-Trump">Donald Trump</keyword> in November 2020, which directed American companies from investing in Chinese companies accused of allegedly aiding the military. China refuted these allegations and claimed that the executive order was politically motivated. “In light of further consultation with relevant regulatory authorities in connection with the Office of Foreign Assets Control FAQ 857… NYSE announced today that NYSE Regulation no longer intends to move forward with the delisting action in relation to the three issuers… which was announced on December 31, 2020,” NYSE said in a <a href="https://ir.theice.com/press/news-details/2021/NYSE-Updates-Guidance-on-Delisting-Determination-for-Securities-of-Three-Issuers-in-Relation-to-Executive-Order-13959--/default.aspx">statement</a> on January 4. The shares of the three companies rallied by more than 5%, at the time of writing this article, on the Honk Kong Stock Exchange (HKD) after the news of the reversal. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change in share price </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">China Telecom </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.74% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">China Mobile </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.47% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">China Unicorn </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6.71% </td></tr></tbody></table>Source: HKD It is uncertain if other indices, like MSCI, S&amp;P Dow Jones, and FTSE Russell will follow in NYSE’s footsteps or continue to comply with the Trump administration’s executive order, which comes into effect on January 11 — a little more than a week before President-elect <keyword id="99719" type="PERSON" weightage="20" keywordseo="Joe-Biden">Joe Biden</keyword> is set to take office. It’s also uncertain if Biden will change any US policies towards China. During this campaign, the Democratic candidate indicated that he would like to work with allies to enforce the ‘rules of the road’ for global trade. SEE ALSO: <a href="https://www.businessinsider.in/science/space/news/five-asteroids-are-set-to-make-a-close-approach-to-earth-tomorrow/articleshow/80109103.cms">Five asteroids are set to fly past the planet tomorrow — two of them are bigger than the Eiffel Tower</a> <a href="https://www.businessinsider.in/india/news/bharat-biotech-sees-rivals-conspiracy-in-all-the-criticism-for-the-approval-for-covaxin/articleshow/80099818.cms">Bharat Biotech sees rivals’ conspiracy in all the criticism for the approval for Covaxin</a> <a href="https://www.businessinsider.in/international/news/questions-arise-about-jack-ma-whereabouts-as-alibaba-faces-scrutiny-from-the-chinese-government/articleshow/80090457.cms">Where is Jack Ma? Questions arise about the billionaire’s whereabouts as Alibaba faces scrutiny from the Chinese government</a>

Three of China’s biggest telecom companies rally over 5% after NYSE decided not to delist them

New Delhi, Mar 25 () Social media major Facebook is reportedly planning to buy 10 per cent stake in the country's biggest telecom company Reliance Jio. Reliance Industries Limited had set a target to make its telecom services arm Jio debt-free by March 31, 2020. According to Financial Times, Facebook is looking at buying a multibillion-dollar stake in Reliance Jio which has been valued at USD 60 billion by analysts at Bernstein. Both Reliance Jio and Facebook did not comment on the report. The international financial daily said that the lockdown may have an impact on the timing of the deal. Reliance Industries (RIL) in October had announced to set up a new subsidiary to bring all its digital initiatives and apps under a single entity, and infuse Rs 1.08 lakh crore equity into this new unit. Jio apps like JioTV, JioCinema, JioNews etc are to be brought under this new entity in a move to consolidate digital platforms into an elegant capital structure to increase the attractiveness and simplify the structure for possible strategic investors. On March 18, RIL took over some of the debt of Reliance Jio but the company neither disclosed financial details of the transaction nor the names of creditors. In March last year, assets worth about Rs 1.25 lakh crore were demerged from RJIL to Infrastructure Investment Trusts (InvITs) aimed at optimising operational efficiencies and better monetisation of core digital connectivity platform, tower and fibre passive infrastructure. PRS MRMR

Facebook likely to buy 10% stake in Reliance Jio

Finally the government is upping its ante against mobile operators over call drops, which have off-late become an irritant for Indian mobilephone users. 
 
The government is mulling to direct operators to return the money charged for the dropped calls or throw in extra airtime to compensate for deficient services. 
Indian users, who have emerged as the world’s second-biggest market, behind China, are vexed due to call drops. 
 
The service quality has been deteriorating due to low call rates and fast adoption of internet on mobile. 
 
"The idea is to ensure that a customer is not made to pay for a deficiency on the part of an operator," a key official in the telecom ministry told Times of India. 
 
The official added that the ministry was "working aggressively" on the issue, especially as call drops became a regular phenomenon in choked networks of metros. 
 <keyword id="2419779" type="UNKNOWN" weightage="80" keywordseo="telecom-minister-Ravi-Shankar-Prasad">Telecom Minister Ravi Shankar Prasad</keyword> has been raising the issue of call drops time and again. "Call drops need to be minimised. Private operators need to reinforce their mechanism. I have directed officials in the telecom department to work on a disincentive architecture (for the operators) to address the issue," Prasad said while speaking at a conference on completion of one year of the NDA government. 
 
The official source told TOI that the ministry also planned to rope in sectoral regulator TRAI on the issue. 
 
"We plan to find a solution soon. It could be as early as the next six months," the source told the news daily, without giving further details. 
 
TOI reported that TRAI’s customer satisfaction survey related to mobile services failed to recognise the issue of call drops and poor broadband connectivity. 
However, as per experts, making operators pay for call drops may not be that easy. 
 
"There needs to be a mechanism in place to recognize when a call is dropped due to network issues. Also, there should be a way to confirm this so that the customer is 
aware of the deficiency," a telecom industry expert told TOI. 
 
Meanwhile, operators blame the lack of adequate spectrum and problems related to erection of mobile towers for the growing network congestion and call drops. 
 
CEO of Bharti Airtel, Gopal Vittal, said that they faced a stiff resistance in installation of mobile towers and needed more spectrum to handle the additional traffic on mobile networks. 
 
But some mobile operators have decided to address the issue and are compensating customers for dropped calls. 
 
TOI reported that Anil Ambani's Reliance Communications doesn't charge a customer for the outgoing mobile pulse where the call gets disconnected due to network problems. Similarly, Uninor gives a minute of free talk time within 24 hours for disconnections during a call. 
 
(Image: Indiatimes)

Frustrated by call drops? Soon, mobile operators may compensate you for it

Welcome to our new Payments Insights newsletter, a morning email with the top news and analysis on the digital payments industry, produced by <a href="https://intelligence.businessinsider.com/welcome?utm_source=House&amp;utm_medium=Edit&amp;utm_term=PINSIGHTSutm_content=link&amp;utm_campaign=BIIMobile" target="_blank">BI Intelligence</a>. 
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<div class="KonaFilter image-container float_right click-to-enlarge" style="width:400px"><div class="image"><a title_source="AP" title_caption="" class="zoomin" href="http://static4.businessinsider.com/image/52a0763b6da8114e32734dbd-960/att-7.jpg"></a>AP</div></div>AT&amp;T PROVIDES RETAIL BANKS WITH DATA TO ENHANCE BANKING APPS. Consumer banking is quickly moving towards mobile, and AT&amp;T is looking to aid this transition by providing retail banks with a number of new APIs.
Retail banks can use these APIs to access data on banking customers who are also AT&amp;T subscribers. This data can then be used to add features like geolocation, automatic form filling, and call recording to retail banking apps.
TELECOMS WORK TOWARDS A COMMON DATA STANDARD: The big hurdle for banks that are interested in using AT&amp;T's APIs is that they are only useful for providing data on customers who are also subscribed to AT&amp;T for mobile services.
To overcome this problem, AT&amp;T and a handful of other carriers have been working together to come up with a unified standard for storing customer data so that it can easily be integrated into banking apps regardless of which telecom is the service provider.
At first glance it is a bit strange that these competing telecoms would be willing to cooperate with each other. But with the looming transition to mobile payments, an opportunity to take of a piece of the payments pie has basically fallen into their laps, provided that the telecoms are willing to work together. For example, these companies could easily generate revenue by providing identity authentication services to retail banks. (<a href="http://www.americanbanker.com/issues/179_2/atts-bid-to-intertwine-its-services-with-mobile-banking-apps-1064638-1.html" target="_blank">American Banker</a>) 
In other news...
BITCOIN WINNERS AND LOSERS: Business Insider's Rob Wile has a great summary of which companies are poised to win and lose as more businesses begin to accept Bitcoin and other digital currencies. Winners include IBM and Overstock.com. Remittance services like Western Union and card networks like Visa could be losers. (<a href="http://www.businessinsider.com/winners-and-losers-in-bitcoin-2014-1" target="_blank">Business Insider</a>)
CHARITY MADE SIMPLER: Digital Processing Solutions has announced a deal to provide its Digital Donations software to merchants who use Global Payments, Inc. as a payments processor. The software allows consumers to make donations directly to charities at points-of-sale in retail locations. (<a href="http://www.charitydigitalnews.co.uk/2014/01/02/digital-processing-solutions-partners-with-global-payments-to-roll-out-digital-donations-software/" target="_blank">Charity Digital News</a>)
P2P IN SPAIN: CaixaBank, one of Spain's largest financial institutions, announced that it will add a peer-to-peer payments feature to its digital wallet CaixaWallet. The feature will allow users to make transfers by email, texts, and by scanning QR codes. At the end of 2013, CaixaWallet and Caixa Virtual Prepaid cards had 600,000 active users. (<a href="http://www.mobilepaymentstoday.com/article/225477/CaixaBank-will-add-P2P-payments-to-digital-wallet" target="_blank">Mobile Payments Today</a>) 
INDIA'S E-COMMERCE BOOM CONTINUES: E-commerce is exploding in India, expanding from $6.3 billion in 2011 to $16 billion in 2013, according to the Associated Chambers of Commerce and Industry of India. Internet penetration in India is currently less than 10% which means e-commerce should continue to grow at a rapid rate. (<a href="http://www.assocham.org/prels/shownews.php?id=4315" target="_blank">ASSOCHAM)</a>
SHOPIFY ADDS OFFLINE INTEGRATION: Shopify has redesigned its e-commerce app with new features aimed at helping retailers improve their e-commerce and offline commerce experience with new tools for tracking and inventory management. For offline commerce, the new software integrates with the company's Square-like mobile card reader. (<a href="http://TechCrunch.com/2014/01/02/shopify-revamps-its-ios-app-with-a-focus-on-payments-and-store-management/" target="_blank">TechCrunch</a>)
VALUING BITCOIN: Business Insider's Jay Yarrow interviewed Bitcoin investor Charlie Dixon to find out if and what the value of Bitcoin is. (<a href="http://www.businessinsider.com/why-bitcoin-has-value-2014-1?utm_source=feedburner&amp;utm_medium=feed&amp;utm_campaign=Feed%3A+typepad%2Falleyinsider%2Fsilicon_alley_insider+%28Silicon+Alley+Insider%29" target="_blank">Business Insider</a>) 
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Competing Telecoms Are Joining Forces To Take A Piece Of The Payments Pie

<div class="KonaFilter image-container display-table"><div><div class="image on-image">ReutersGoogle's Head of Strategy and Operations in Cuba, Brett Perlmutter, and Vice President of Investment of Etecsa, Luis Adolfo Reyes, sign documents in Havana</div></div></div><ul class="summary-list"><li><a href="https://www.businessinsider.com/category/google">Google</a> plans to bring fast internet to Cuba. </li><li>On Thursday, Google signed a deal with Cuban telecoms giant ETECSA with the intention of improving internet connectivity for the island nation, which has been notoriously sluggish and unreliable. </li><li>The partnership aims to create a cost-free and direct connection between Google and Cuban networks, allowing for quicker access to Google services like search and YouTube. </li><li>There's currently no timeframe for when this might be delivered. </li></ul><a href="https://www.businessinsider.com/category/google">Google</a> may soon bring faster internet to Cuba.On Thursday, Google and Cuban telecoms giant ETECSA signed a deal with the hopes of improving the country's internet connectivity, which has been notoriously sluggish and unreliable. The partnership aims to create a cost-free and direct connection between Cuban networks and Google's own, allowing for quicker access to services like YouTube and Google Search. "The implementation of this internet traffic exchange service is part of the strategy of ETECSA for the development and computerization of the country," Google and ETECSA said in a joint statement at a news conference in Havana on Thursday, according to <a href="https://www.reuters.com/article/us-cuba-usa-google/google-cuba-agree-to-work-towards-improving-islands-connectivity-idUSKCN1R91ZP">a Reuters report</a>. No times frames were given for when these connections - known in the industry as "peering" - would be implemented. Instead, the agreement between the two companies created a working group of engineers to scope out the project for specifics, according to Reuters. Cuban trade relations with the United States have tightened under President Trump, although a <a href="https://www.washingtonpost.com/news/the-switch/wp/2015/09/18/obama-is-now-letting-u-s-telecom-carriers-go-to-cuba/">policy created under the Obama Administration</a> allows for US companies to provide the island country with certain telecommunications services. Apparently, helping to improve Cuba's spotty internet services falls within that policy.News of Google's deal with Cuba comes just one day after its CEO Sundar Pichai met with President Trump in Washington to discuss the company's intentions around re-entering China - a country that, like Cuba, hasn't always had the warmest relationship with the United States. Read more: <a href="https://www.businessinsider.com/trump-discussed-military-meeting-google-ceo-sundar-pichai-2019-3" data-analytics-position="1">Trump says Google CEO Sundar Pichai told him he is 'totally committed to the U.S. military'</a>Get the latest Google stock price<a href="http://markets.businessinsider.com/stock/GOOG-Quote"> here.</a> <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/huawei-china-biggest-smartphone-manufacturer-wont-win-us-2019-3">The US won't let Huawei, China's biggest smartphone maker, enter the US market</a></h3> <div> </div> </div>

Google signs a key partnership to bring faster internet to Cuba

<ul><li>According to the report, Google is looking to acquire a stake of 5% in <keyword id="1553175" type="COMPANY" weightage="20" keywordseo="Vodafone-Idea">Vodafone Idea</keyword>.</li><li>The news comes after Facebook picked up a 9.99% stake in leading telecom operator Reliance Jio for $5.7 billion.</li><li>Google’s interest in Vodafone Idea could be an after-thought, after it reportedly missed out on the Jio deal to Facebook.</li></ul>Shares of Vodafone Idea have surged by more than 30% on May 29 after reports suggested Google is exploring a stake purchase in struggling telecom operator. The move comes after Facebook picked up a 9.99% stake in Reliance Jio, India’s leading telecom operator. According to a <a href="https://www.ft.com/content/3f763918-d0b1-4a02-a581-e241753c75eb">report</a> by Financial Times, Google could pick up a 5% stake in Vodafone Idea. The report also adds that the talks are still in a “very early stage”, so the details of the deal could change. The report further adds that Google is also in talks to acquire a stake in Reliance Jio, and that the talks are still ongoing. However, since <a href="https://www.businessinsider.in/business/news/why-facebook-owner-mark-zuckerberg-wants-stake-in-mukesh-ambani-owned-reliance-jio/articleshow/74803994.cms">Facebook has already joined Jio</a>, it might make sense for Google to pick up a stake in Vodafone Idea, which is the second largest telco in the country by number of subscribers. <div type="Article" hostid="261" msid="74964136" title="A new research report says Vodafone Idea has to increase tariff by 39% to survive – and that will be a bounty for Reliance Jio and Airtel" mstype="2" mssubtype="0"></div> <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[<div class="flourish-embed flourish-chart" data-src="visualisation/2615319" data-url="https://flo.uri.sh/visualisation/2615319/embed"></div>]]></cdata></div> Note: Vodafone Idea's share price on 29-05-2020 is taken at 12:10 pm. A deal with Vodafone Idea could also come at a comparatively discounted price. Even though its share price has increased by 84% since March, it is relatively cheaper when compared to rival telecom operators like Airtel. <table><tbody><tr><td>Company</td><td>Market capitalisation (in crore)</td></tr><tr><td>Reliance Jio</td><td>₹4,89,075</td></tr><tr><td>Airtel</td><td>₹3,07,000</td></tr><tr><td>Vodafone Idea</td><td>₹16,665</td></tr></tbody></table> Note: Reliance Jio's valuation is based on the latest investment made by KKR. Airtel and Vodafone Idea's valuations are based on the closing price as on May 28, 2020. Vodafone Idea and its timeline of woes Since the entry of Jio, Vodafone Idea has <a href="https://www.businessinsider.in/business/telecom/news/vodafone-idea-and-its-timeline-of-woes/articleshow/74577942.cms">posted cumulative losses</a> of ₹77,000 crore, with ₹50,922 crore coming in September 2019 alone. It was hit by a demand of ₹53,000 crore by the Supreme Court for recovery of adjusted gross revenue dues. In November 2019, the telco’s UK parent Vodafone Plc wrote down the value of its Indian entity to nil. It also lost 36 million subscribers in the same month. According to the <a href="https://www.businessinsider.in/business/corporates/news/mukesh-ambanis-reliance-jio-becomes-the-largest-telco-by-revenue-and-subscribers-as-industry-shows-signs-of-recovery/articleshow/73667566.cms">latest numbers</a> released by the Telecom Regulatory Authority of India (TRAI), Vodafone Idea has 336 million subscribers, while Jio is <a href="https://www.businessinsider.in/business/corporates/news/microsoft-mukesh-ambani-reliance-jio-are-partners-but-satya-nadella-wants-more/articleshow/76057690.cms">said</a> to have 387 million subscribers. <div type="Article" hostid="261" msid="74577942" title="Vodafone Idea and its timeline of woes" mstype="2" mssubtype="0"></div> The Indian telecom sector is too lucrative for the big tech companies to ignore The Indian telecom sector presents a good investment opportunity for big tech companies to expand their presence in the country. Although Vodafone Idea’s status is <a href="https://www.businessinsider.in/business/telecom/news/bharti-airtels-ceo-wants-vodafone-idea-to-survive-and-stay-on/articleshow/73973990.cms">critical right now</a>, the recent price hikes by all the three major telecom companies gives it a chance to survive in the market. Further, the Jio-Facebook deal has opened up the Indian telecom sector for investments. Since the deal with Zuckerberg’s company, Jio has found buyers in KKR, General Atlantic, Silver Lake and Vista Equity Partners. Airtel, the third-biggest telco, is also <a href="https://economictimes.indiatimes.com/markets/stocks/news/airtel-parent-to-raise-1-billion-via-share-sale-today/articleshow/75989710.cms">looking to raise</a> $1 billion by selling a 2.75% stake to Fidelity, Segantii Capital, Norges Bank and others. Jio changed the face of Indian telecom sector India’s telecom sector has seen major upheaval since the entry of Mukesh Ambani-led Reliance Jio. After Jio’s entry, the Indian telecom sector has seen minor players like Tata Docomo, Aircel, Reliance Communications, Telenor either wind up or sell their business to Airtel. Amidst all this, Vodafone and Idea, which were two separate operators, decided to merge in 2018 to take on Reliance Jio. However, since then, the merged entity Vodafone Idea has been losing millions of customers due to multiple issues, including business uncertainty and a fall in its quality of service. Jio was the major beneficiary of this, going on to become the <a href="https://www.businessinsider.in/business/corporates/news/mukesh-ambanis-reliance-jio-becomes-the-largest-telco-by-revenue-and-subscribers-as-industry-shows-signs-of-recovery/articleshow/73667566.cms">largest telecom operator in India</a> both by revenue and number of subscribers. Update: Vodafone Idea in a statement to NSE has said, "As part of corporate strategy, the company constantly evaluates various opportunities for enhancing the stakeholders’ value. As and when such proposals are considered by the Board of Directors of the Company warranting disclosures, the Company shall comply with the disclosure obligations under the SEBI Regulations. Currently, there is no proposal as reported by the media that is being considered at the Board." SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/airtel-share-price-target-as-africa-unit-nears-a-billion-dollars-in-revenue/articleshow/75970641.cms">Airtel’s Africa unit is now a nearly-billion dollar business where every user pays 40% more than the one in India</a> <a href="https://www.businessinsider.in/business/telecom/news/if-vodafone-idea-increases-tariff-it-will-help-airtel-and-reliance-jio/articleshow/74964136.cms">A new research report says Vodafone Idea has to increase tariff by 39% to survive – and that will be a bounty for Reliance Jio and Airtel</a> <a href="https://www.businessinsider.in/business/telecom/news/india-is-changing-its-mobile-habits-and-that-can-help-airtel-and-vodafone/articleshow/75152973.cms">India is changing its mobile habits and that can help Airtel and Vodafone</a>

You Searched For "biggest telecom news" and got 14 results

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