Idea, Vodafone India Announce Merger, To Be Biggest Telecom Operator In India

March 20, 2017

Mar 20: Idea Cellular and the Indian unit of British telecom company Vodafone today announced a merger, creating India's largest telecom operator. The merger will create India's largest telecom operator with widest network in the country and pan-India 3G/4G footprint, the companies said in a statement. Vodafone will own 45 per cent of the combined entity and Idea and Vodafone will have the right to nominate 3 directors each. The deal excludes Vodafone's 42 per cent stake in tower company Indus Towers. The combined entity will have 40 crore customers or nearly one in three customers in India.

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Promoters of Idea will have the sole right to appoint chairman. The appointment of chief executive officer and chief operating officer need the approval of both the promoters.

The entry Reliance Jio has spurred a consolidation in the Indian telecom sector. Jio, backed by energy conglomerate Reliance Industries' billionaire owner Mukesh Ambani, has intensified competition in India, the world's second-biggest mobile market after China.

Bharti Airtel reported its lowest profit in four years in the October-December quarter while No. 3 player Idea Cellular posted its first-ever quarterly loss for the same period.

Bharti Airtel had earlier this year announced an agreement to buy Norwegian company Telenor's operations in six Indian states.

Reliance Communications has already entered into an agreement to merge its wireless business with rival Aircel.

The merger between Vodafone and Idea Cellular is seen positive for the telecom sector and the combined entity. "The combined entity's operating margins will improve by around 3 percentage points due to cost synergies in networking and selling, general and administrative expenses," the India Ratings, a rating agency, had said in a report.

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Agencies
May 19,2020

Cybersecurity researchers on Monday warned of a Trojan malware campaign which is targeting India's co-operative banks using COVID-19 as a bait.

Seqrite, the enterprise arm of IT security firm Quick Heal Technologies, detected the new wave of Adwind Java Remote Access Trojan (RAT) campaign.

Researchers at Seqrite warned that if attackers are successful, they can take over the victim's device to steal sensitive data like SWIFT logins and customer details and move laterally to launch large scale cyberattacks and financial frauds.

According to the researchers, the Java RAT campaign starts with a spear-phishing email which claims to have originated from either the Reserve Bank of India or a nationalised bank.

The content of the email refers to COVID-19 guidelines or a financial transaction, with detailed information in an attachment, which is a zip file containing a JAR based malware.

Upon further investigation, researchers at Seqrite found that the JAR based malware is a Remote Access Trojan that can run on any machine which has Java runtime enabled and hence it can impact a variety of endpoints, irrespective of their base operating system.

Once the RAT is installed, the attacker can take over the victim's device, send commands from a remote machine, and spread laterally in the network.

In addition, this malware can also log keystrokes, capture screenshots, download additional payloads, and extract sensitive user information, Seqrite said, adding that such attack campaigns can effectively jeopardise the privacy and security of sensitive data at the co-operative banks and result in large scale attacks and financial frauds.

To prevent such attacks, users need to exercise ample caution and avoid opening attachments and clicking on web links in unsolicited emails.

Banks should also keep their operating systems updated and have a full-fledged security solution installed on all the devices, Seqrite advised.

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Agencies
July 11,2020

Citing the current dismal aviation scenario, Air India is terminating the services of trainee cabin crew and cabin crew by withdrawing the offer of employment of those who were under training.

As per sources, the new crew and trainee pilots might reduce contracts from five years to one year. Sources said Air India is terminating 1,200 crew and employees who are more than 55-yr-old including 190 trainee pilots.

In a letter reviewed by IANS, Air India has informed an applicant who had been selected as cabin crew in August 2019 subject to successful completion of training.

"On behalf of Air India we would like to thank you for the interest shown by you in joining our organization. However, in view of the current aviation scenario, it would not be possible for Air India to impart any further training to you for engaging your services," the company said.

"In view of the above reasons, which are beyond the control of the company, it has been decided to discontinue your training arrangements and dispense with the offer of engagement with immediate effect. The bank guarantee furnished by you at the time of joining is returned herewith," Air India told the cabin crew.

"Once again on behalf of Air India we thank you for your cooperation and trust that you will appreciate the circumstances under which we are constrained to discontinue the training arrangements," the carrier said.

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News Network
June 30,2020

Bengaluru, Jun 30: Karnataka Chief Minister BS Yediyurappa on Monday launched 'Skill Connect Forum' and said that the government is committed to provide impetuous to creating jobs by reviving economic and industrial activities.

The 'Skill Connect Forum' portal connects both private entrepreneurs and job seekers on the same platform.

After launching the forum, the Chief Minister said that the portal provides information on jobs available and who needs a job. "Under this forum, an unemployed will be imparted skills and then enabled to get a job," Yediyurappa said.
Besides providing jobs via registration, the portal also provides a skilled pool of people for those looking to hire, he added.

Deputy Chief Minister Dr CN Ashwath Narayan, who is also the Skill Development Minister said that portal will be a boon to the youth seeking jobs and it will avoid unemployment issue to a great extent.

"All these years, there was no information and communication between job seekers and recruiters. The portal will solve that problem," he said.

Narayan said that there was no proper information on skilled workers and job market. Moreover, skill development was not in sync with the market. All these issues have been addressed by the portal, he added.

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