Here goes the evening Newsreel, our daily news roundup.
– Virgin Group’s top brass Richard Branson has said that he would certainly like to invest in high speed passenger services of Indian Railways if there were opportunities. Currently, Branson is in India to launch Virgin Atlantic’s service on the Mumbai-London route. The Indian Railways is studying the feasibility of attracting private investment for high-speed trains for six routes -Pune-Mumbai-Ahmedabad,Delhi-Agra-Lucknow-Varanasi-Patna,Hyderabad-Dornakal-Vijayawada-Chennai,Chennai-Bangalore-Coimbatore-Ernakulam, Delhi-Chandigarh-Amritsar and Howrah-Haldia, read complete post here.
– Capital advisory firm Viedea has announced that it’s merging with Bangalore based investment bank Allegro Capital Advisors. Viedea is an advisory firm, which offers venture capital fundraising and merger and acquisition services to growth stage firms in the internet and digital media space. Started in 2002 as a boutique corporate finance house with mid-market focus, Currently, Allegro has workforce of 300 professionals across 44 cities in India. Viedea’s team will be transitioning to Allegro from November including Deepak Srinath, Founder-Director of Viedea, who will join the existing management team of Allegro as a Partner and lead the Technology and Emerging Sectors Practice, read complete post here.
– Seems to be a good news for users of Apple’s app store in India as Apple is now launching app billing in Indian National Rupees (INR) instead of US Dollars. Currently, it appears that Apple is launching this new pricing slowly, however Apple had not said anything officially so far, read complete post here. Earlier, we had reported that iPhone 5 will be launched in India on November 2nd.
– Digital Media Network firm Tyroo Media has become the third largest display ad-network with 28.849 million unique visitors in September. As per the latest Comscore numbers, Tyroo Media (including all Tyroo entities: Tyroo Direct, Tyroo Audience and DGM India) is the third largest display ad-network in India after Google and Tribal Fusion and the largest Indian display ad-network that reaches out to over 43.7% of the internet users in India. The average daily visitors and total page views for Tyroo stand at 3.2M and 820MM respectively, read complete post here.
– 16 States and Union Territories Sign tripartite agreements for laying digital highways under National Optical Fibre Network (NOFN). The signed tripartite includes memorandums of understanding for free Right of Way (RoW) with the Central Government and Bharat Broadband Network Limited. In total 1,40,727 GPs will get covered by Optical Fibre Network in these States and UTs.The Central Government, through Universal Service Obligation Fund (USOF), will fund the project while the contribution of State Government would be by providing free Right of Way (RoW) for laying OFC. With the availability of NOFN at Gram Panchayats in these states, a minimum bandwidth of 100 Mbps will be available at each GP, read complete post here
– Sudhir Valia, promoter of Sun Pharmaceuticals has acquired 26% stake in Telenor Group’s new Indian entity -Telewings Communications Pvt. Ltd. (Telewings). According to statement from Telenor, Lakshdeep Investments & Finance Pvt. Ltd, a company controlled by Valia, will contribute an agreed amount of equity into Telewings. Telenor Group will maintain operational control and upon necessary approvals for all assets of Unitech Wireless (Uninor), read complete post here.