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New Delhi: The country's private telecom operators face twin challenges on investment recovery in the New Year - customers leaving their network after tariff hikes and satellite players mainly Elon Musk's Starlink eyeing a chunk of their bread and butter data business. Private operators have invested around Rs 70,000 crore in telecom infrastructure and radiowave assets this year to expand the coverage of next-generation 5G services which is one of the main highlights of 2024 for the sector. To recover investments and protect margins, private telcos resorted to tariff hikes in mid-year but that move backfired. Advt Around 2 crore subscribers dropped their connections. Reliance Jio , Bharti Airtel and Vodafone Idea jointly lost 2.6 crore customers due to a 10-26 per cent price hike. Around 68 customers switched to state-run player BSNL which refrained from price hike. The loss-making PSU still offers generation-old 3G service and is on the path of rolling out 4G network across the country. Despite subscriber loss, private players need to recover investment and invest more in 5G to offer new-age services to drive future growth. According to EY India Markets and Telecom leader Prashant Singhal , the cumulative investment of Reliance Jio, Bharti Airtel and Vodafone Idea was around Rs 70,200 crore in 2024. Digital Infrastructure Providers Association ( DIPA ) Director General Manoj Kumar Singh says the telecom infrastructure sector looks at a cumulative investment of Rs 92,100 crore to Rs 1.41 lakh crore in 2022-2027 to support the 5G ecosystem. Union Minister Jyotiraditya Scindia also backed telecom operators on the tariff hike issue citing investments made by companies in the network. The rollout of 5G services in 2024 has paved the way for the adoption of emerging technologies like artificial intelligence which offers huge growth potential. "5G deployment has been a game-changer. We've witnessed a significant surge in 5G base transceiver stations, rising from 412,214 in December 2023 to 462,854 by November 2024," says DIPA, whose members include Indus Towers and American Tower Corporation. Advt Impending huge investments in 5G and maintaining healthy margins in the face of subscriber loss are not the only challenges for private telecom players. A new threat from satellite broadband service providers is staring at private telcos in the New Year. The satellite broadband sector has seen intense lobbying on the spectrum allocation issue in 2024. Private telecom operators led by Mukesh Ambani-promoted Jio have been for strongly protesting against the administrative allocation of spectrum to satellite broadband service providers like Elon Musk's Starlink. Telcos fear that allocation of radiowaves to satellite broadband providers without auction will come at a low price and make a dent in their data subscriber market share. The government's decision to allocate satcom spectrum without auction also saw political mud-slinging with opposition members equating the move with 2G spectrum case. As per the Comptroller and Auditor General of India (CAG), 2G spectrum allocation caused a notional loss of Rs 1.76 lakh crore to the national exchequer. Scindia said the country cannot forget the "2G scam" -- a blot on the country's history. "A scam that not just led to a colossal loss of Rs 1,76,645 crore to the exchequer, but also gave government-corporate collaboration its worst name, a.k.a crony capitalism," he said on X. The minister reiterated that even administrative allocation of spectrum to satcom players will be done at a price recommended by the Telecom Regulatory Authority of India (TRAI). Indian Space Association (ISpA) Director General AK Bhatt has batted for expeditious allocation of satcom spectrum, saying it would help satcom players start their services in India as soon as possible and bring the unconnected areas under the coverage. According to analysts, satcom players' entry may delay mobile services tariff hikes by telcos and new entrants may trigger another round of price war which may push the sector into another round of financial stress as well as lower investments in the network. Private players like Vodafone Idea are already ridden under huge debt. It has awarded a Rs 30,000 crore contract to Nokia, Ericsson and Samsung for the supply of 4G and 5G network equipment for three years. GX Group CEO Paritosh Prajapati says that the investment in the Indian telecom sector will continue as operators are looking to improve their network. EY India Markets and Telecom leader Prashant Singhal cautions that it is crucial for the telecom industry to find a balance between tariff rationalisation to recover their investments without compromising on subscribers' experience. "Telecom companies should not ignore low paying customers and it is very much required to include them in the data-led digital economy as per government mission of inclusive development. Operators also need to invest in building infrastructure on which the entire digital economy including start-ups, e-commerce are thriving," says Singhal. According to a joint report by Google, Temasek and Bain & Company, India's internet economy alone is expected to register a six-fold growth and touch about Rs 80 lakh crore by 2030. The report estimated that India's internet economy was in the range of Rs 12.86 lakh crore to Rs 14.5 lakh crore in 2022. Singhal said that internet companies or the new age businesses are generating high margins and their corporate social responsibility funds can be used for building rural and remote networks where returns are low for telecom operators. Telecom industry body COAI has been pushing for revenue sharing with foreign big tech companies like Google, Amazon, Facebook, WhatsApp etc as videos, images and other content on these platforms are estimated to consume 80 per cent bandwidth. "The massive traffic created by LTGs (large traffic generators)has significantly strained telecom networks, compelling TSPs to invest an additional Rs 10,000 crore in infrastructure in 2023, according to our study. "While TSPs bear these costs, LTGs, without contributing, amass multiple incomes through subscriptions, ads and data-driven marketing, with revenues largely outside India's tax ambit," COAI Director General SP Kochhar said. He said that telcos also faced the blow of equipment theft as well during the year. Telecom equipment theft has emerged as a major issue affecting Indian TSPs, incurring an estimated Rs 800 crore in losses already, causing major disruptions in 4G/5G expansions and impacting the quality of mobile services, Kochhar said. Also, the year 2024 ends with the unsolved menace of pesky and fraud calls with scamsters powered by high-speed 5G networks devising new strategies like digital arrest, misusing AI to extort money. PTI Published On Dec 28, 2024 at 06:19 PM IST Telegram Facebook Copy Link Be the first one to comment. Comment Now COMMENTS Comment Now Read Comment (1) All Comments By commenting, you agree to the Prohibited Content Policy Post By commenting, you agree to the Prohibited Content Policy Post Find this Comment Offensive? Choose your reason below and click on the submit button. 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In one of the seven intriguing matchups on the NBA schedule on Saturday, the Memphis Grizzlies and Boston Celtics will meet at TD Garden. How to watch all the games in the NBA on Saturday is available here. Sign up for NBA League Pass to get access to games, live and on-demand, and more for the entire season and offseason. Charlotte Hornets vs. Cleveland Cavaliers New Orleans Pelicans vs. Oklahoma City Thunder Washington Wizards vs. Denver Nuggets New York Knicks vs. Detroit Pistons Toronto Raptors vs. Dallas Mavericks Miami Heat vs. Phoenix Suns Boston Celtics vs. Memphis Grizzlies Watch ESPN originals, The Last Dance and more NBA content on ESPN+. Use our link to sign up for ESPN+ or the Disney bundle. Not all offers available in all states, please visit BetMGM for the latest promotions for your area. Must be 21+ to gamble, please wager responsibly. If you or someone you know has a gambling problem, contact 1-800-GAMBLER .

Slight change of plan, Sir Keir?U.S. stocks rose to records after data suggested the job market remains solid enough to keep the economy going, but not so strong that it raises immediate worries about inflation. The S&P 500 climbed 0.2%, just enough top the all-time high set on Wednesday, as it closed a third straight winning week in what looks to be one of its best years since the 2000 dot-com bust. The Dow Jones Industrial Average dipped 0.3%, while the Nasdaq composite climbed 0.8% to set its own record. Javascript is required for you to be able to read premium content. Please enable it in your browser settings.Rivers State Governor, Siminalayi Fubara says he has stopped seeing the crisis in the state as a problem but as a necessary enabler in governance. The Governor stated that while the political antagonism lasted, God gave him a new perspective to leadership, especially with the strength of support from the people of the state. He made the declaration spoke at the Christmas Ballad, which was hosted by the former Governor of Rivers State, Dr Peter Odili, at his residence in Old GRA, Port Harcourt City in Port Harcourt Local Government Area on Friday night. Rivers State was thrown into political turmoil about a year ago when Gov. Fubara and his political benefactor and Minister of the Federal Capital Territory, Abuja, Nyesom Wike entered into open political disagreement that has plagued the state up to this moment. He added that God has proved Himself worthy as the Ultimate Liberator of the State and its people because He ensured total triumph over the political crisis and those behind it. But speaking at the Ballard Gov. Fubara said he stopped seeing the crisis as a problem but as a necessary enabler in governance. He said, “And not just because I want to accept it, I get stronger in this course every day when I look at the support I am getting from the true Rivers people. “So, it is not me being strong. My strength is drawn from everyone of you that is here. You gave me the encouragement; you do the work for me; you make the calls for me. So, why won’t I stand up for you. “But we also believe strongly that the ultimate game changer, the ultimate liberator, and the ultimate fighter still remains God Almighty. And because we have Him on our side, victory is assured.” Governor Fubara said God is in control of the affairs of the State, adding that as they look forward to a very prosperous 2025, they should be assured that it will be better than what had been experienced. He assured of the determination of his administration to make every succeeding year in the State better with remarkable records of progress, stressing that the excitement experienced among Rivers people during the Christmas celebrations was indicative of a brighter future ahead. Fubara, vowed to continue to do what was right, noting that it was delightful to see true leaders of the State and well-meaning Rivers people standing on the right side of history despite the pressures to surrender to tyranny and oppression. “I want to thank everyone, and I assure you that we will continue to run a government that will uplift the image of the State. We will not be tyrants. “We will remember that what we are doing here today is a shift job, and that one day, our time will be up, and we’ll leave for another person to take over. “And what is important is to allow the machine to keep running effectively, so that when the other person comes, he continues with that steam for progress in the State. So, I thank everyone of you for your support,” the Governor stated. Governor Fubara prayed God to continue to fill the home of Dr Odili with love and peace while assuring that even if it may not be too easy on him as a human being, but he will try not to do anything that will bring any disgrace to Rivers State. Also speaking, Speaker of Rivers State House of Assembly, Rt Hon Victor Oko-Jumbo recalled how the crisis that erupted in the assembly swept them off their feet but quickly added that the encouragement from Governor Fubara, emboldened him and a few others to stand up for the truth to liberate the State. In his speech, Chief Judge of Rivers State, Justice Simeon Amadi, said he least expected to have remained a chief judge, just as he didn’t expect the Governor to last in office up until now given the political crisis, but noted that God had turned the crisis as a liberation fight, and assured that he would continue to be on the right side in defence of the State. In his welcome address, former Governor of Rivers State, Dr Peter Odili, stated that as a family, he, his wife and children, decided to host the Rivers State Governor, Sir Siminalayi Fubara and his family to a night of varieties of sing-song and other activities in appreciation of the fortitude and sterling leadership qualities he had demonstrated. Dr Odili explained that it was now over 12 months, since the 25th October, 2023, when a fierce existential fight, though unnecessary, was waged against Governor Fubara over the soul of Rivers State. He said that with assuring fortitude, Governor Fubara confronted the challenge, prevented the quest by one man to capture the State as a private estate, emancipated Rivers people, steadied governance and made civil servants and Rivers people happier as it used to be until he left office in 2007. In her speech, Justice Mary Odili, who presented gifts to Governor Fubara, his wife, Lady Valerie, and children, said God knew long ago the need for an emancipator and gave Governor Fubara to Rivers State, explaining that he had played the role satisfactorily, and pledged the continuous support of her family to the success of his administration. ALSO READ FROM NIGERIAN TRIBUNE Yuletide: Fubara approves N100,000 Christmas bonus for workers, pensionersEaton Vance Tax-Advantaged Dividend Income Fund ( NYSE:EVT – Get Free Report ) saw a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 58,900 shares, an increase of 55.8% from the November 30th total of 37,800 shares. Based on an average daily trading volume, of 102,900 shares, the days-to-cover ratio is presently 0.6 days. Eaton Vance Tax-Advantaged Dividend Income Fund Price Performance Shares of NYSE EVT opened at $24.07 on Friday. Eaton Vance Tax-Advantaged Dividend Income Fund has a twelve month low of $21.82 and a twelve month high of $25.83. The firm has a fifty day simple moving average of $24.80 and a 200 day simple moving average of $24.20. Eaton Vance Tax-Advantaged Dividend Income Fund Dividend Announcement The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd will be given a $0.1646 dividend. This represents a $1.98 annualized dividend and a dividend yield of 8.21%. The ex-dividend date of this dividend is Monday, December 23rd. Institutional Inflows and Outflows About Eaton Vance Tax-Advantaged Dividend Income Fund ( Get Free Report ) Eaton Vance Tax-Advantaged Dividend Income Fund is a closed-ended equity mutual fund launched and managed by Eaton Vance Management. The fund invests in public equity markets across the globe. It seeks to invest in stocks of companies operating across the diversified sectors. The fund primarily invests in dividend paying value stocks of companies that qualify for favorable federal income tax treatment. Featured Stories Receive News & Ratings for Eaton Vance Tax-Advantaged Dividend Income Fund Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eaton Vance Tax-Advantaged Dividend Income Fund and related companies with MarketBeat.com's FREE daily email newsletter .

The Atlanta Hawks were fined $100,000 by the NBA on Tuesday after a league investigation into star guard Trae Young missing an NBA Cup game two weeks ago. The NBA found the Hawks violated the league's Player Participation Policy when the 26-year-old American missed a November 12 contest at Boston. The probe, which included a review by an independent physician, determined the Hawks held Young out of a game, in which he could have played, under the medical standard clause of the policy, which is aimed at having top NBA talent play in regular-season contests. The Hawks, who beat Boston 117-116, said Young was unavailable due to tendinitis in his right Achilles tendon. Three-time NBA All-Star Young, who has not missed another game this season, has averaged 21.9 points, 3.6 rebounds and an NBA-best 11.9 assists so far this season. At 7-11, the Hawks are 11th in the Eastern Conference. The NBA also fined Sacramento Kings head coach Mike Brown $35,000 for aggressively pursuing a referee during his team's 108-103 home loss to Brooklyn on Sunday. The Kings are 8-10, 12th in the Western Conference after dropping four games in a row. js/bsp

NoneWASHINGTON – A person accused of accosting U.S. Rep. Nancy Mace in a Capitol Office building pleaded not guilty on Wednesday to a misdemeanor assault charge. Witnesses told police that James McIntyre, 33, of Chicago, shook Mace's hand in an “exaggerated, aggressive” manner after approaching the South Carolina Republican in the Rayburn House Office Building on Tuesday evening, according to a police affidavit. Recommended Videos Mace, who is identified only by her initials in a court filing, posted a string of social media messages about the incident. She said she was “physically accosted” at the Capitol, and she thanked President-elect Donald Trump for calling her Wednesday morning to check on her condition. “I’m going to be fine just as soon as the pain and soreness subside,” Mace wrote. Mace declined to be treated by a paramedic after her encounter with McIntyre, who was arrested Tuesday by the Capitol Police, the affidavit says. Mace told police that McIntyre said, “Trans youth serve advocacy,” while shaking her hand. Last month, Mace proposed a resolution that would prohibit any lawmakers and House employees from “using single-sex facilities other than those corresponding to their biological sex.” Mace said the bill is aimed specifically at Delaware Democrat Sarah McBride — the first transgender person to be elected to Congress. A magistrate judge ordered McIntyre’s release after an arraignment in Superior Court of the District of Columbia. Efforts to reach an attorney for McIntyre weren't immediately successful.