18.08.2008

• What is the cellular network interconnection issue that is making it to headlines?
• Interconnection is crucial for any cellular network operator to offer cellular services. Subscribers on this network can call subscribers on other mobile networks only when there is an interconnection between the networks.
• RCOM, which is set to launch its GSM services in 14 circles by the year end, is being denied this interconnection by the major GSM operators like Bharti, Vodafone and Idea. They contend that the interconnection that already exists for RCOM’s CDMA network cannot be used by the latter for its GSM networks and that it has to enter into separate interconnect agreements with them. But RCOM says that there is no need to enter into fresh agreements.
• TRAI has taken the side of RCOM and has ordered the networks to offer interconnectivity before August 21. The networks say that they are going to challenge this in courts.
• August 21 is the date that we all should watch
• This is the day on which the NSG is meeting in Vienna to consider exemption for India from long-standing global nuclear trade standards.
• India and the US are engaged in massive lobbying campaigns to convince all 45 members of the NSG to vouch for waiver for India to allow the country to have civil nuclear trade with the international community.
• On India’s demographic dividend
• We have noted quite a bit on this theme in our blog earlier.
• Take a look at this picture; it picks some holes in the theme.
• Why is that foreign law firms are not able to enter India?
• Currently, foreign lawyers and law firms are not allowed to practice in India due to the provision of the Advocates Act 1961.
• Besides, Indian law firms and lawyers are not allowed to advertise through any medium, unlike their foreign counterparts.
• Further, under the present rules of the Company's Act 1951, Indian law firms cannot have more than 20 partners.
• The contentious issues related to the entry of foreign law firms in to India:
• One is that local lawyers will suffer, as they cannot compete with them. Experts don’t buy the argument that if foreign law firms come to India, the country's litigation lawyers will suffer. They say that none of the foreign firms are interested to do litigation work in India. They argue that if foreign law firms come to India, it will improve the services of Indian firms because of competition.
• The benefits of foreign firms forming partnerships with Indian law firms will be in terms of quality and expertise, and will expose Indian lawyers to a lot of transaction in the financial sector that they otherwise do not practice, like documenting transaction in derivatives and insurance policies.
• On embedded value concept
• This is a good piece that appeared in today’s ET. Look at it here.
• Chaturvedi committee recommendations on oil prices
• If you are asked to briefly sum them up, this is what you can say:
• Doing away with the runaway consumption subsidies in the retail prices of petrol, diesel, LPG and kerosene; albeit gradually.
• A temporary Special Oil Tax on domestic oil producers that would be deductible for corporate tax purposes.
• Export parity prices for oil refiners, so that the undue protection given for refined products is done away with.
• It’s Jamaica all the way in the speed chase
• Jamaica’s Shelly Ann Fraser won the women’s 100 meter dash by clocking 10.78 seconds at the Olympics.