Sensex up 69 pts on hopes of rate cut by RBI

Two people were killed by a fire at a fuel storage terminal of state-run Indian Oil Corp in Hazira in Gujarat state on Saturday.

TELECOM

Vodafone Group Plc said on Saturday it has received a reminder from Indian tax authorities on disputed tax dues over its 2007 acquisition of Indian mobile assets.

Separately, Vodafone has invited the government to engage with it to find an amicable solution to its multi-billion-dollar tax dispute in India,

State-owned Bharat Sanchar Nigam Ltd is set to buy telecom gear worth 4 billion rupees ($72.58 million)from China's Huawei to upgrade its landline network, top company executives aware of the development said.

MEDIA

eBay Inc is considering a minority investment in Snapdeal, as the U.S. company weighs options in India's digital commerce industry, said people briefed on the matter.

AIRLINES

The civil aviation ministry has decided to scrap the existing rule that makes it mandatory for domestic airlines to deploy 10 per cent of capacity on non-viable routes like the Northeast, The Business Standard reported without citing

sources.

Top aviation ministry sources said Kingfisher Airlines Ltd's international flying rights could be given to other Indian carriers, along with its airport slots, in the coming summer schedule if the carrier does not resolve renew its flying license.

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