With more than a billion subscribers, India is one of the biggest mobile markets - what went wrong? One of India's biggest telecoms firms, Vodafone India, has posted record second quarter losses of 510bn rupees ($7bn; £5.4bn) further exacerbating fears about the state of the industry. Economist Vivek Kaul explains further. What has caused these losses in such a big market? With more than a billion mobile subscribers, India is one of the world's biggest telecoms markets. But there are two reasons for this bloodbath. The first is that for many years while the prices of telephone calls fell, data prices continued to remain high. However, with the entry of Reliance Jio three years ago, this entirely changed. The company slashed data prices and, in the process, managed to change what was essentially a voice market into a data market. This resulted in India ending up with the cheapest mobile data in the world. But this put massive pressure on the players already in the market. … [Read more...] about How did Vodafone lose $7bn in India in just one quarter?
Illinois supreme court rules
Defendant Trinh Xuan Thanh Former Chairman of the Board of Directors of PetroVietnam Construction Corporation (PVC) Trinh Xuan Thanh asked the appeal court to reconsider the life sentence imposed upon him on the charge of “asset embezzlement”, insisting he is innocent. Dinh Manh Thang, former Chairman of the Board of Directors of Song Da Oil and Gas Investment and Commerce JSC, who was sentenced to nine years in prison, appealed for a reduction of his jail term. Nguyen Thi Kim Thoa, former chief accountant of 1/5 Construction and Services JSC and Minh Ngan JSC, argued that she did not gain anything in the case and asked for a re-consideration of the entire case and the 6-year imprisonment imposed on her. Thai Kieu Huong, former Deputy General Director of Vietsan Investment JSC, and Huynh Nguyen Quoc Duy, a self-employed trader, both complained that their 10-year sentences is too heavy on them and called for a review of their roles in the case … [Read more...] about PVP Land embezzlement case: six defendants appeal
Groups of mainland visitors and officials visited officers stationed on the Ladd Reef of Việt Nam's Trường Sa (Spratly) archipelago. — VNA/VNS Photo Trần Việt HÀ NỘI — The year 2019 marks the 25th anniversary of the United Nations Convention on the Law of the Sea 1982 (UNCLOS 1982) and also the 25th year since Việt Nam ratified the convention. On the occasion, Dr. Lê Thị Tuyết Mai, a member of the Executive Board of the Việt Nam Society of International Law, Chair of Việt Nam Lawyers Association Branch at the Ministry of Foreign Affairs, Director General of the Department of International Law and Treaties, wrote an article entitled “UNCLOS 1982: Overarching framework for establishing the legal order for the seas and oceans, promoting development and cooperation at sea". The following is the full text of the article. On June 23, 1994, the National Assembly of … [Read more...] about UNCLOS 1982 remains a framework for legal order for the seas and oceans
The Hanoi People’s Court said the defendants are Tran Trung Chi Hieu (born 1963, former Chairman of the Board of Directors of PVTEX), Do Van Hong (born 1967, Chairman of the Board of Directors and General Director of Kinh Bac Petroleum Construction and Investment JSC – PVC.KBC), Dao Ngo Hoang (born 1978, former head of the trade-contract division of PVTEX) and Vu Phuong Nam (born 1979, former chief accountant of PVTEX). All of them are accused of “deliberately violating State regulations on economic management causing serious consequences”. Tran Trung Chi Hieu also faces bribery charges. According to the indictment of the Supreme People’s Procuracy, while implementing a housing project for PVTEX employees, Tran Trung Chi Hieu and Vu Dinh Duy (former General Director of PVTEX) signed contracts with an incapable and inexperienced contractor, changed the design and organised the construction contrary to what was approved by the People’s Committee … [Read more...] about Four defendants to stand trial for wrongdoings at PVTEX
After a fiery overnight stand-off, some protesters tried to leave - but were met with tear gas. Police are surrounding a Hong Kong university campus after a fiery overnight stand-off with hundreds of protesters inside. Dozens of protesters tried to leave after sunrise but turned back as police fired tear gas and rubber bullets. The police said tear gas was fired because "a large group of masked rioters...suddenly charged at cordons". Earlier, police tried to enter Polytechnic University (PolyU) but were met with petrol bombs and bricks. The acting president of PolyU's student union Ken Woo told broadcaster RTHK that at least 500 people remained inside the campus. He said fresh water was available, but food supplies were running low. Demonstrators have been occupying the site for days, as Hong Kong's violent protests continue to escalate. On Monday afternoon, police said protesters could leave the campus via Cheong Wan Road South Bridge - but urged them to drop their weapons and … [Read more...] about Hong Kong protests: Police surround campus after night of violence