Vodafone Idea accepts four-year payment moratorium on AGR dues
Vodafone Idea on Wednesday said its board has approved availing the four-year spectrum payment moratorium being offered by the government as part of its relief package for the telecom sector.
The other options offered in the Telecom Department’s notification will be considered by the board of directors within the stipulated timeframe, it said in a regulatory filing. Read more
Future Retail must take part in Amazon dispute arbitration: Singapore panel
Future Retail must take part in arbitration over a commercial dispute with Amazon com Inc, a Singapore arbitration panel ruled on Wednesday, rejecting the Indian retailer’s bid to avoid the process.
Amazon is trying to block Future’s $3.4 billion sale of its retail assets to Indian market leader Reliance Industries, accusing it of breaking contracts. Future denies any wrongdoing. Read more
Bitcoin climbs to record high after futures-based ETF debut
Bitcoin rallied to a record high after a strong debut by the first U.S. exchange-traded fund investing in Bitcoin futures stoked optimism about the digital asset’s outlook.
The largest cryptocurrency jumped as much as 3.1% to $66,084, surpassing its previous peak from April and taking its 2021 surge to more than 120%. Second-ranked Ether pushed higher as did the wider Bloomberg Galaxy Crypto Index. Read more
YES Bank to take 2 more years to stabilise, says former SBI chief
Crisis-hit YES Bank has shown remarkable progress after its management was taken by the clutch of investors led by State Bank of India (SBI) last year and may take two more years to stabilise, said former SBI chairman Rajnish Kumar.
“The situation in which YES Bank was, you have to give three years time at least for it to stabilise… it has shown remarkable progress as the condition was very bad when SBI salvaged it,” he told PTI while sharing a sneak peek of his memoir. Read more