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Modi to be keynote speaker at Bloomberg Global Business Forum

Former British Prime Minister Theresa May was the keynote speaker at last year’s forum.

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New York, Sep 13 : Prime Minister Narendra Modi will deliver the keynote address at the 3rd Bloomberg Global Business Forum, which will feature several top global political and business leaders, on September 25 during his visit to New York.

After his address, Modi will participate in a conversation with entrepreneur and climate change activist Michael Bloomberg.

The forum on the theme “Restoring Global Stability” will focus on “aligning governments and businesses on combating the greatest current threat to global prosperity — the rise of economic and environmental instability,” according to the organisers.

“Meeting big challenges requires governments and businesses to work together, especially at a time when tensions and temperatures are both rising around the world,” said Bloomberg, who is the United Nations Special Envoy for Climate Action, and WHO Global Ambassador for Noncommunicable Diseases.

Listed as participants in the forum are titans from the business and political world, including former US President Bill Clinton; Christine Lagarde, incoming President of the European Central Bank and former head of the International Monetary Fund; New Zealand Prime Minister Jacinda Arden; Bank of England Governor Mark Carney; and CEOs Bob Iger of Walt Disney, David Solomon of Goldman Sachs, Jamie Dimon of JPMorgan Chase, Michael Corbet of Citibank, Tidjane Thiam of Credit Suisse and Dara Khosrowshahi of Uber.

Mahindra Group is one of the partners of the forum.

Bloomberg, a former Mayor of New York, is also the founder of Bloomberg financial information company and a philanthropic foundation.

Former British Prime Minister Theresa May was the keynote speaker at last year’s forum.

(Arul Louis can be contacted at [email protected] and followed on Twitter @arulouis)

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Google gives workers Rs 75K each, to reopen offices from July 6

According to Pichai, there are a limited number of Googlers whose roles are needed back in office this calendar year.

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Google Employee

San Francisco, May 27 : Google has set July 6 the date for its employees to return to office in a gradual, phased manner and has announced to give $1,000 (around Rs 75,000) to each of its workers globally for expenses on necessary equipment and office furniture as they work from home.

Alphabet and Google CEO Sundar Pichai said that the company will restart opening more buildings in more cities from July 6.

“This will give Googlers who need to come back to the officeeor, capacity permitting, who want to come backethe opportunity to return on a limited, rotating basis (think: one day every couple of weeks, so roughly 10 percent building occupancy),” Pichai said in a statement late Tuesday.

According to him, if condition allows, Google will gain 30 per cent office capacity by September by further scaling the rotation programme.

“Because we still expect that most Googlers will be largely working from home for the rest of this year, we’ll be giving each Googler an allowance of $1,000, or the equivalent value in your country, to expense necessary equipment and office furniture,” Pichai announced.

According to Pichai, there are a limited number of Googlers whose roles are needed back in office this calendar year.

“If this applies to you, your manager will let you know by June 10. For everyone else, returning to the office will be voluntary through the end of the year, and we encourage you to continue to work from home if you can,” said Pichai.

Google’s original plan was to keep work from home policy until June 1.

While some of Google employees have expressed interest in coming back to the office, others have asked whether it’s okay to temporarily relocate to another place to be closer to family while you’re working from home.

Pichai said that in this case, they need to review the guidelines which include important information about a number of personal factors such as your tax filings and health coverage/eligibility.

“We’ll have rigorous health and safety measures in place to ensure social distancing and sanitization guidelines are followed, so the office will look and feel different than when you left,” said the Google CEO.

“We are taking slow, deliberate steps to begin re-opening offices in areas where they still remain largely closed. We’re also investing more in your work-from-home setup to make sure you have what you need to be productive and comfortable,” he added.

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Moderate participation expected in spectrum auctions: ICRA

In addition, the telcos are required to pay Rs 90,000 crore as AGR dues as per the Supreme Court order, but the payment terms are yet to be finalised in the court.

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Mobile tower

Mumbai, May 27 : Rating agency ICRA expects moderate participation for the upcoming spectrum auctions at Rs 55,000-Rs 60,000 crore due to the limited financial flexibility of the industry.

The Telecom Regulatory Authority of India (TRAI) has recommended auctions with one of the largest quanta of spectrum on offer – more than 8,500 MHz, which at reserve price, is valued at around Rs 5.7 lakh crore.

However, ICRA expects a relatively muted participation fetching around only Rs 55,000 – Rs 60,000 crore to the exchequer.

“This, along with the impending AGR dues, are expected to result in further elevation of the industry debt to around Rs 4,60,000 crore as on March 31, 2021 despite sizeable deleveraging done by the telcos as well as the anticipated improvement in cash flow generation post the tariff hikes,” ICRA said in a study on Wednesday.

“Such a high valuation is on account of high reserve prices and high quantity of spectrum for the newer bands i.e. 700 MHz and 3300-3600 MHz, which are primarily expected to be used for 5G. The 700 MHz was put to auction in October 2016 where it went unsold and thereafter the price for this band has been revised downwards for the forthcoming auction.”

According to ICRA’s Assistant Vice President for Corporate Ratings Ankit Jain, the ratings agency foresee minimal participation in the 700 MHz band and expects relatively better participation in the 800 MHz and 1800 MHz bands, that beholds significant expiries for incumbents in 2021, and thus the telcos will acquire it for continuation of 4G services.

The Centre has budgeted Rs 1.33 lakh crore as non-tax receipts from the telecom sector for FY2021.

“While the regular receipts – license fee and spectrum usage charges – are expected to fetch around Rs 20,000 crore, the telcos will have to pay Rs 20,000-25,000 crore as upfront payment for the forthcoming spectrum as per ICRA expectations,” the statement said.

In addition, the telcos are required to pay Rs 90,000 crore as AGR dues as per the Supreme Court order, but the payment terms are yet to be finalised in the court.

“If the telcos are required to pay this amount upfront, the Government will meet its target for FY2021, while in case of staggered payment terms stretching to 20 years, there will be a sizeable shortfall in the GoI collections.”

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Samsung launches new Galaxy A51 variant at Rs 27,999

The Galaxy A51 is powered by a 10nm Exynos 9611 chipset that comes with AI powered Game Booster for improved frame rate and stability as well as reduced power consumption.

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Samsung Galaxy S20

New Delhi, May 27 : Samsung on Wednesday launched a new 8GB RAM/128GB internal storage variant of its best-selling smartphone Galaxy A51 in India for Rs 27,999.

The new variant of Galaxy A51 comes in three colours – prism crush black, prism crush white and prism crush blue – and will be available across retail channels, offline retail stores, leading e-commerce portals and Samsung.com.

“Galaxy A51’s cool and intelligent ‘Make for India’ innovations have seen widespread adoption. These features, based on extensive consumer research in India, have been designed to help Gen Z consumers live a fast and organized life,” the company said in a statement.

The device features an advanced 48MP main camera, 12MP Ultra Wide lens with “Night Mode” capability and a 5MP Macro lens that allows users to take close up shots and a 5MP depth camera for clicking shots in “Live Focus” mode.

The Galaxy A51 is powered by a 10nm Exynos 9611 chipset that comes with AI powered Game Booster for improved frame rate and stability as well as reduced power consumption.

The Galaxy A51 also comes with a long-lasting battery that lasts for up to 19 hours of video play back time, according to the company, thanks to the 4000mAh battery with 15W fast charging.

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