Debt-ridden Vodafone Idea on Sunday said it has awarded contracts worth about Rs 30,000 crore to Nokia, Ericsson and Samsung for supply of 4G and 5G network equipment for three years.
The deal is the first step towards the roll-out of the company's three-year capex (capital expenditure) plan of about USD 6.6 billion or Rs 55,000 crore announced earlier.
"Vodafone Idea has concluded a mega, about USD 3.6 billion (around Rs 300 billion), deal with Nokia, Ericsson and Samsung for supply of network equipment over a period of three years. The capex programme is directed towards expanding the 4G population coverage from 1.03 billion to 1.2 billion, launching 5G in key markets and capacity expansion in line with data growth," the company said in a statement.
The supplies against these new long-term awards will start in the coming quarter.
The top priority for the company is to expand the 4G coverage to 1.2 billion Indians, the statement said.

FILE PHOTO: A man walks across the LED display board showing the logo of Vodafone-Idea at the India Mobile Congress 2022, at Pragati Maidan, in New Delhi, India, October 3, 2022. REUTERS/Anushree Fadnavis/File Photo

Around 75 per cent UPI users will stop using it if any transaction charge is levied on the service, a survey by Localcircles said on Sunday.
The survey found that 38 per cent of users make over 50 per cent of their payment transactions via UPI instead of debit, credit or any other form of digital transaction.
"Only 22 per cent UPI users surveyed are willing to bear a transaction fee on payments, 75 per cent of respondents stated that they will stop using UPI if a transaction fee is introduced," the survey said.
The survey comprising three broad areas claims to have received 42,000 responses from 308 districts but the number of replies on each question varied.
The questions regarding transaction fee on UPI received 15,598 responses.
The National Payments Corporation of India (NPCI) posted a record 57 per cent rise in the volume of transactions and 44 per cent rise in value in the 2023-24 fiscal year, compared to the previous fiscal year.
For the first time UPI transactions crossed

Axis Finance, IDBI Bank & IDBI Trusteeship Services have withdrawn their petitions before the appellate tribunal NCLAT filed against the NCLT order approving the merger of Zee Entertainment with Sony Pictures Networks India.
The National Company Law Appellate Tribunal (NCLAT) allowed the withdrawal of the petitions noting that the NCLT earlier this month had already recalled its earlier order of August 10, 2023, approving the merger of Zee Entertainment with Sony Pictures Networks India.
"Learned counsel for the appellants submit that NCLT has already withdrawn the merger scheme. Hence the appellants pray that they may be permitted to withdraw the appeals. Prayer is allowed," said an NCLAT bench comprising Chairperson Justice Ashok Bhushan and Member Barun Mitra.
Earlier this month, the Mumbai bench of the National Company Law Tribunal (NCLT) recalled its order passed on August 10, 2023, in which it had approved the merger of Zee Entertainment with Sony Pictures Networks ...

Zee-sony, Sony, Zee

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The European Union said Thursday it will outline steps to compel Apple to open up its iPhone and iPad operating systems to competing technologies under the bloc's tough new digital rulebook, which threatens hefty fines for breaches.
The EU's executive branch, the European Commission, said it has opened two specification proceedings that will spell out what Apple needs to do under the 27-nation bloc's Digital Markets Act.
The DMA is designed to prevent Big Tech gatekeepers from dominating digital markets, including by breaking up closed tech ecosystems. It requires tech companies to make their systems operate with rivals, allowing consumers to switch more easily between platforms.
One proceeding will focus on how connected devices like smartwatches and headphones will have effective interoperability with Apple's operating system. The other will look at how Apple deals with interoperability requests from software developers for iOS and IPadOS, which should be done in a "transparent, .

European Union flag

The Bank of England has kept its main interest rate unchanged at 5% despite a big cut from the US Federal Reserve, its first since the onset of the coronavirus pandemic more than four years ago.
The decision Thursday was widely expected amid ongoing concerns about inflation within the bank's monetary policy committee, particularly the elevated levels in the crucial services sector, which accounts for around 80% of the British economy.
Figures on Wednesday showed that inflation overall in the UK held steady at an annual rate of 2.2% in August, still above the bank's goal.
The bank, which last month cut interest rates for the first time since the pandemic, is widely expected to reduce borrowing costs again at its next meeting in November, especially as it will have details of the government's budget on Oct 30.
On Wednesday, the Fed cut its main interest by half of a percentage point to roughly 4.8% from a two-decade high of 5.3%, where it had stood for 14 months. It also signalled th

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Apple is offering instant cashback of Rs 5,000 from select banks on purchases of the new iPhone 16 series. No-interest EMI plans for three and six months are also available

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Stocks to Watch: Nykaa has increased its same and next-day delivery capabilities to 110 cities, with 60 per cent of the orders fulfilled within one day.

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FIIs failed to participate in the big runup in better-quality infrastructure cos, defence and energy transition and public-sector companies, many of which have reported vastly improved performances

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Critics argue that while the BJP has delivered on some of its election promises, the 2027 panchayat elections will put the ruling party to test

PM Narendra Modi, along with Odisha CM Mohan Charan Majhi, launched various projects in Bhubaneswar on September 17  	Photo: PTI

Based on folio addition data, most of the new SIP accounts are likely in sectoral, smallcap, and midcap funds

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Sebi expert group recommends reforms to streamline operations

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The rating agency's arm said that India's recent consumer price inflation at around 5 per cent was without clear evidence of a trend towards slowing price pressures

Most GCCs in India support critical business goals by using AI, data analytics, robotic process automation, and cloud services

India ranked third globally in terms of funding raised by fintech companies, behind the US and China, the report said

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Vodafone Idea awards Rs 30k-cr contracts for 4G, 5G gear supply for 3 years

Majority say they will stop using UPI if transaction fee levied: Survey

Axis Finance, IDBI withdraw petitions against Zee-Sony merger at NCLAT

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