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Zurich Airport to pare its equity in BIAL
Flughafen Zurich AG, operator of Zurich airport in Switzerland, which has a 17 per cent stake in Bangalore International Airport Ltd (BIAL), will reduce this to five per cent, to fund its further growth in India. The divestment process is expected to take four months.

Making banking mobile
Business Standard / New Delhi December 03, 2009, 1:34 IST

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Eight companies have submitted applications for the Rs 12,132-crore Hyderabad Metro Rail Project which will be executed on a design, build, finance, operate and transfer basis in public-private partnership.
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DoT to seek Cabinet nod for Rs 10,000-cr defence proj

The Department of Telecom (DoT) will approach Cabinet shortly seeking allocation of Rs 10,000 crore to prepare an optical fibre cable (OFC) network for defence forces in the next three years in lieu of release of spectrum for mobile services. - FM asks Raja to push Trai Bill in Winter Session - No headway in 3G spectrum logjam - DoT may reconsider Etisalat DB-Allianz merger proposal - DoT, defence scrap over 3G spectrum - DoT may reconsider Etisalat DB-Allianz merger proposal - Mittal for uniform 3G allocation A senior DoT official said efforts are on to seek the Cabinet approval for Rs 10,000 crore allocation as soon as possible to prepare the OFC. In a meeting, chaired by Cabinet Secretary K M Chandra Sekhar, yesterday, the progress on optical fibre project was discussed and DoT was asked to seek Cabinet approval as soon as possible to get it going. National Knowledge Commission Chairman Sam Pitroda was also present in the meeting. DoT and the Defence Ministry had signed a memorandum of understanding (MoU) under which the latter was supposed to release 45 MHz of 3G spectrum. Of this, the Defence released 10 Mhz of spectrum last month. The MoU follows at least two years of negotiations. It entails vacation of spectrum by the defence forces once DoT builds an alternative optical fibre cable (OFC) network for them. DoT has asked BSNL and MTNL to build OFC, the cost of which will be reimbursed by the department.


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