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Reliance, Bharti, MTNL apply for telecom service licence in S Arabia

Mumbai, Mar 12 (UNI) The Communications and Information Technology Commission (CITC) the telecommunications regulator in Saudi Arabia has received an overwhelming response from European, Asian and Gulf telecom service providers for its Request for Applications (RFA) to award a second fixed-line license and a third mobile license.

In response to the RFA published by CITC in October last year, CITC received ten applications for fixed-line services license on March 10.

Last month it received nine applications for mobile services license. MTNL India has applied for both mobile and fixed-line services license, while Bharti and Reliance has applied for the mobile services license.

Arthur D Little, which was appointed as an adviso by CITC for the liberalisation process last year, has been working closely with CITC for over a year to assist develop the regulatory framework, licensing policies and processes and related RFA's for the fixed-line and mobile services licenses.

The firm's other client assignments in the Middle East include developing business strategies for Saudi Basic Industries Corporation (SABIC) - one of the world's leading manufacturers of chemicals, fertilizers, plastics and metals, several family owned conglomerates such as ASTRA, the El-Ajou Group, Dar Al Riyadh Group and funds including the Information&Communication Technology (ICT) Development Fund established by the United Arab Emirates Telecommunications Regulatory Authority (UAE-TRA).

Last month, it opened a regional office at the Dubai International Financial Centre (DIFC) in Dubai.

The regulatory framework was updated to ensure that consumers benefit from the technological changes and a level playing field for the new licensee. The new licenses will encourage additional investment in the fixed local access infrastructure, catalyse the mobile market growth, and accommodate future trends in convergence.

The encouraging response to the licensing process is a testimony of the market potential. We are pleased to have a well entrenched position not only in Saudi Arabia but also across the Middle East.

UNI

Sugar prices rise on fresh demand

Mumbai, Mar 12 (UNI) Sugar prices today rose on fresh demand, Bombay Sugar Merchants' Association traders here said. Sugar in small and medium grades hiked by Rs five each per quintal on reduced stock supply. Sugar in ex-mill small and medium grades remained steady on moderate demand. Following were the spot wholesale rates per quintal: Small grade: Rs 1,485/1,515, Medium grade: Rs 1,505/1,555, Ex-mill: Small grade: Rs 1,470/1,480, Medium grade: Rs 1,495/1,510. UNI.....

Eicher Motors declare an interim dividend of 290 per cent

Mumbai, Mar 12 (UNI) Eicher Motors today declared an interim dividend of 290 per cent for the financial year 2006-2007. This includes a one time special dividend of 250 per cent which will be distributed to shareholders on March 20, the company said in an official release issued here. ''The interim dividend we have declared is due to the profits we have earned from the sale of the tractor business coupled with a strong performance and cash position in the.....

Copper, brass cuttings declines with LME

Mumbai, Mar 12 (UNI) Copper and brass cuttings declined on lack of fresh demand along with the London Metal Exchange, traders at the Bombay Metal Exchange said today. In ferrous section, copper heavy and brass cuttings declined by Rs 300 and Rs 700 per quintal on lack of fresh demand. In non-ferrous section, copper wire bars drifted lower by Rs 500 per quintal on sustained heavy selling pressure. But lead ingots rose by Rs 100 per quintal on lesser stock supply......
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