Department Financial News

By Vivian Sequera, Andrew Mills and Marianna Parraga

Amazon has sought approval from the Indian National Space Promotion and Authorization Centre (IN-SPACe) to offer broadband-from-space services in the country. This would make the US e-commerce firm the latest entrant in India's nascent but fast-growing satellite communications (satcom) market. Amazon would be pitted against the likes of Elon Musk-owned Starlink, Bharti-backed Oneweb and Reliance Industries' Jio Satellite in India which has issued a new space policy earlier this year aimed at spurring private investments in the sector. The Jeff Bezos-led company is also expected to apply to the Department of Telecommunications (DoT) for a global mobile personal communication by satellite services (GMPCS) licence. A query to Amazon regarding its application remained unanswered at the time of going to press. While Oneweb and Jio Satellite have secured a GMPCS license, Starlink's application is expected to be taken up this week by an inter-ministerial panel. India's Space Policy 2023 allowed private low-earth orbit (LEO) and medium-earth orbit (MEO) satellite constellation operators to launch fast broadband from space services in the country. The new policy permits foreign entities to set up infrastructure and offer satellite services.

MANALI/KULLU : Distressed fruit and vegetable growers in Himachal Pradesh are considering taking out huge loans for the next crop cycle after floods devastated farm produce. Floods and incessant rain in July not only damaged the infrastructure of the state but also affected the quality and quantity of crops such as apple, plum, pear, tomato, cauliflower, beans, capsicum, chilli, cabbage, eggplant, peas and broccoli, causing huge losses. Himachal Pradesh ranks second in apple and almond production in the country.

U.S. electric automaker, Mullen Automotive (NASDAQ:MULN) announced Monday the appointment of Marianne McInerney to the position of Chief Strategy Officer.

By Joyce Lee

Exciting news! Mint is now on WhatsApp Channels. Subscribe today by clicking the link and stay updated with the latest financial insights! Click here! Netizens took to social media to share videos of waterlogging and traffic snarls.

₹38.99 crore, the insurance firm said in its BSE filing on Monday. “The Company has received a Show Cause Cum Demand Notice from the Directorate General of GST Intelligence, Mumbai Zonal Unit under Section 74(5) of the Central Goods and Services Tax Act, 2017 (“the Act"), October 6, 2023 alleging a tax demand of ₹ 38,99,77,849," said the company in its BSE filing. The company shares closed 2.11% lower at ₹582.55 per share on BSE on Monday.

Bharti Airtel and Vodafone Idea on Monday requested the Supreme Court to hear in the “open court” their curative petitions against an earlier order, which rejected pleas for rectification of what they called arithmetical errors in the telecom department’s calculation of adjusted gross revenue (AGR) dues. Senior counsel Harish Salve, appearing for Vodafone Idea, told a bench led by Chief Justice of India DY Chandrachud that its curative petition should be heard soon. Salve was joined by senior counsel KK Venugopal, who appeared for Airtel, in seeking open court hearing on the curative petitions, saying that the «prejudice is so huge that there is a need for open court hearing”. The CJI said the court would decide on open court hearing after consulting the other judges who would be part of the bench.

cinema opened to him «many different worlds», says Martin Scorsese who decades later draws on that experience in his new film 'Killers of the Flower Moon'. Scorsese, viewed by many as one of the greatest filmmakers in the world, said he knew about Indian culture after seeing Jean Renoir's 1951 Kolkata-set 'The River'. But 'Pather Panchali' was a turning point.

A husband can seek generic income details of his estranged wife through RTI to corroborate evidence in a maintenance case, according to a recent decision of the Central Information Commission (CIC).

The Muzaffarpur police department suspended two home guards and a police driver on Sunday for their involvement in disposing of certain remains of a road accident victim into a canal located in the Fakuli area.

Reliance General Insurance Company (RGIC), a subsidiary of Reliance Capital Ltd, has received multiple show cause notices from the Directorate General of GST Intelligence, amounting to Rs 922.58 crore. According to sources, the company has received four notices from the DGGI demanding GST of Rs 478.84 crore, Rs 359.70 crore, Rs 78.66 crore, and Rs 5.38 crore respectively, on the revenue generated from the services like re-insurance and co-insurance. According to a tax expert, the RGIC auditors will have to provide for this amount in its quarterly results ending September 30, as a contingent liability. RGIC is the crown jewel of Reliance Capital which is undergoing a debt resolution process through NCLT. RGIC constitutes almost 70 per cent of the total value of Reliance Capital.

Who is Pawan Munjal? Hero MotoCorp confirms ‘ED visit’ at Chairman's residence; here's what we know In August of this year, the Enforcement Directorate (ED) conducted searches related to a money laundering investigation involving Munjal and others, according to official sources as reported by PTI. The searches took place at the 69-year-old billionaire businessman's residential and business premises in Delhi and neighbouring Gurugram, as well as at locations associated with some linked entities.

Delhi's air quality showed a slight improvement and was recorded in the ‘moderate’, days after it had plunged into the 'poor' zone. The maximum temperature was recorded at 36.5 degrees Celsius, two notches above the season's average, the weather department said, adding that the minimum settled at 23.1 degrees Celsius, two degrees above normal.

Ari Mervis will succeed Myer chairwoman JoAnne Stephenson, who will retire from the department store board at the annual general meeting after seven years as a director and many prickly battles with major shareholder Solomon Lew.

PTI. The Jalpaiguri district administration in West Bengal said they have so far recovered 40 bodies from the downstream of the Teesta river of which officials said that 10 bodies have so far been identified.

Victorian Premier Jacinta Allan was warned months in advance that the Commonwealth Games would blow out by billions of dollars due to the event’s spread-out regional model, a parliamentary inquiry has been told.

Titan Titan Co has clocked 20% year-on-year growth in its revenues for the second quarter ended September 2023. A total of 81 stores were added in this period, taking the group’s retail presence to 2,859 stores. PB Fintech Japanese tech giant SoftBank has offloaded partial stake in PB Fintech through block deals on Friday.

BHP chief executive Mike Henry says stronger uranium prices will boost the business case for an expansion of South Australia’s Olympic Dam copper precinct, which would in turn allow BHP to grow its uranium output.

Hamas militants to Israel wreaked havoc in the country, hundreds of United Airlines passengers booked from San Francisco to Tel Aviv endured a 13-hour “flight to nowhere". Also Read: India is an important country in world, its support comes from understanding of terrorism: Israel The flight UA954 departed from the California city on time. However, the flight had to make an emergency u-turn in mid-air after Hamas attack in Israel.

Pentagon has ordered the Ford carrier strike group to sail to the Eastern Mediterranean to be ready to assist Israel, two US officials said on Sunday. The USS Gerald R.