Reliance Jio Infocomm raised its tariffs by nearly 40%, but some of its plans are almost 25% cheaper than those of rivals Bharti Airtel and Vodafone Idea, suggesting that the days of price war in the telecom sector may still not be over. The Mukesh Ambani-led telecom operator, which had started a tariff battle in the sector with its entry in 2016, has increased its headline price plans for the first time since its launch. Its two older rivals had raised their prices earlier this week, also by about 40%. “These plans will provide up to 300% more benefits to the Jio consumers (compared with previous plans), upholding the Jio promise of providing the best-quality service at the lowest price globally,” the telco said in a news release. The additional benefit refers to increased calling time during which Jio subscribers can call a rival network without being charged. Under some of its new price plans, this would be 1,000, 2,000, 3,000 or even 12,000 minutes. In October, Jio … [Read more...] about Reliance Jio increases tariffs by up to 40%
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The Reserve Bank of India (RBI) on Thursday surprised the money market participants, who were anticipating a 15—25 basis points cut in key policy rates, and held the policy rates in its monetary policy review. The banking regulator paused, after five straight previous cuts, and kept its key policy rate, the repo rate -- the rate at which it lends to banks-- unchanged at 5.15%. That might sound like a status-quo policy, but considering the surprise element that comes with it, does this warrant any change in your mutual fund investment strategy? Mahendra Jajoo, Head-fixed income, Mirae Asset, says, “We were expecting 0- 25-bps rate cut. However, I believe that rate cut has done its part now.” Jajoo says what is needed right now is a spending and income plan from the government. “If the RBI does not come with a plan in the near future, the market will be disappointed,” he adds. According to money market participants, several factors might have influenced … [Read more...] about RBI policy surprise: Should you change your mutual fund strategy?
Users' data stored in the US with back-up site in Singapore, the company explains The British Army is using a Chinese-owned app that the United States military has ordered its personnel to stay away from over Washington's fears that it could be used for spying. The vote of confidence in the video-sharing app TikTok from the British authorities means it is being used to help recruit young people to the nation's armed forces. While the US authorities have launched an investigation into whether the owners of the app that is popular with teenagers are sending sensitive information to the Chinese authorities, the British Army is using the username BritishArmyHQ to post videos of such things as soldiers answering questions, taking part in training exercises, and firing tanks' guns. MailOnline says the UK military's TikTok accounts have more than 50,000 followers. TikTok was launched in 2017 by parent company Beijing ByteDance Technology Co and is similar to the tech giant's Chinese platform, … [Read more...] about British military stands by TikTok despite US concerns
Global investors and market watchers sat down and took note as Finance Minister Nirmala Sitharaman announced India’s first debt ETF on Wednesday. Bijoy Sankar Saikia of ETMarkets.com caught up with Jason Giordano, Director of Fixed-Income Product Management at global indices provider S&P Dow Jones Indices, to get a global perspective on the bond ETF and on India’s debt market. Excerpts:- How does S&P DJI view India’s move to launch debt ETFs? There is increased market appetite among global investors to shift asset allocations to passive or index-based investments, such as ETFs, from actively-managed funds. This shift has been happening over time and includes stocks, bonds and other types of securities. Investors are attracted to the lower costs and performance consistency of products such as ETFs, because they are designed to closely mirror the risk-return profiles of their respective indices and benchmarks. In India, specifically, this bond ETF is a new … [Read more...] about Bond ETF comes at right time; investors shifting to index-based products globally: Jason Giordano, S&P DJI
Video PlayerClose QINGDAO, May 29 (Xinhua) -- Ranil Oninda recently did a "brave" thing -- promoting Sri Lankan beer in Qingdao, a coastal Chinese city best known for its century-old brewer Tsingtao. As a marketing consultant for Lion Holdings Trading (Shenzhen) Limited, Oninda distributed the signature black beer to visitors for a taste in the just-concluded Shanghai Cooperation Organization (SCO) International Trade and Investment Fair. The three-day fair which closed Sunday has attracted more than 400 companies and other institutions, including over 150 from overseas. The fair exhibits the cultural industries, tourism, home appliances and other products of SCO member states. It was not the first time for him to showcase the Lion beer from Sri Lanka in China. "With closer trading ties between the two countries, it is easier to do business with Chinese clients," he said. Two months ago, Oninda brought 48 containers of roughly 2.5 million bottles of Lion beer to China. The beers have … [Read more...] about Across China: Sri Lankan beer brews up business in China