OneWeb’s plans to use satellites for digital connectivity and provide affordable internet access to all will have to address a few challenges that have earlier plagued such ventures.
It is not the first time that the IMF, traditionally called on by economically troubled governments to help when they run short of liquidity, faces the breakdown of a bailout programme.
Asian shares edged up and the euro sagged in early Asian trading on Tuesday as Greece lurched toward defaulting on a looming debt payment, raising the likelihood of the cash-strapped nation's exit from the euro zone.
Snapping its five-day falling spree, the rupee rose 8 paise to 63.76 against the US dollar in early trade on Tuesday on fresh selling of the American currency by exporters and banks amid a higher opening in the domestic equity market.
Creditors left the door open for a last-ditch debt deal to try and avert a ‘Grexit’, which would raise serious questions about the future of the European Union. German Chancellor Angela Merkel warned that “if euro fails, Europe fails”.
US stocks extended their losses in heavy trading on Monday, adding to a global selloff, after a collapse in Greek bailout talks intensified fears that the country could be the first to exit the euro zone.
World markets tumbled on Monday as Greece imposed capital controls and shut its banks for a week after global creditors refused to extend the country's bailout beyond June 30. A lowdown:
The rupee recovered from initial losses, but still ended lower against the US dollar on Monday by tumbling 20 paise at 63.84 due to the looming debt default crisis in Greece amidst month-end demand for the greenback from importers.
After tumbling over 602 points in early trade spooked by Greece concerns that may trigger capital outflows, the benchmark BSE Sensex recovered over 435 points, powered by gains in HUL, ITC, L&T, ICICI Bank and Dr Reddy's, but still closed down over 166 points.
Representatives from 50 founding countries, including India, today signed an agreement that provided the legal framework for the China-led $ 100 billion multilateral Asian Infrastructure Investment Bank (AIIB).
Media firm TV18 Broadcast Ltd and Cable News Network, Inc (CNN) will end their partnership at the end of their 10-year-old brand licensing agreement in January next year.
The euro fell almost 2% and share prices fell across Asia on Monday as Greece looked set to default on its debt repayment this week, forcing Athens to impose capital controls to halt bank runs.
The economic crisis in Greece may trigger capital outflows from India and the government is consulting the RBI to deal with the situation, finance secretary Rajiv Mehrishi said on Monday.
Amazon.com Inc will launch its business loan programme for small sellers later this year in eight more countries including China, where credit is becoming a key factor in competing for new vendors and grabbing market share.
Oil fell more than $1 to below $62 per barrel on Monday, its lowest in three weeks, as Greece shut its banks and imposed capital controls, causing investors to flee from riskier assets and darkening the demand outlook.