Norway's Telenor warns India on telecom impasse

NEW DELHI (Reuters) - Indian Prime Minister Manmohan Singh warned on Saturday that a prolonged policy logjam could slow economic growth to 5 percent, a day after India unveiled a spate of reforms aimed at reviving growth and preventing a credit rating downgrade. On Friday, the government said it was opening up its supermarket sector to foreign chains and would allow more foreign investment in airlines and broadcasters. It also approved the sale of stakes in four state-run industries. ...

Norwegian telecom giant Telenor wrote off Monday the rest of its mobile business in India worth 3.9 billion kroner (513 million euros, $680 million) after New Delhi scrapped licences in a massive fraud probe.It warned too that it could withdraw completely from India, one of the world's fastest growing telecom markets, in light of increased uncertainty since the mobile phone licences were scrapped.Telenor said that "as a precautionary measure ... it has decided to write-down the remaining fixed and intangible assets in India.

Norwegian telecom group Telenor launched a new mobile service Thursday in India's congested cellular market where over a dozen operators are in a tariff war for millions of new customers each month."This is indeed a milestone in a longer journey to become a significant operator in India," said Stein-Erik Vellan, managing director of Unitech Wireless, the new mobile venture of Telenor and Indian property giant Unitech.

Middle East-style oil wealth combined with a generous Nordic welfare model is slowly throttling big chunks of Norway’s economy, threatening western Europe’s biggest success story. On the surface, Norway is the envy of the world: growth is strong, per capita GDP has exceeded $100,000 and the nation sits on a $700 billion rainy day cash reserve, or $140,000 per man, woman and child. But it may just be too much money as Norwegians, more keen on leisure and family life are working less and less.

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NEW DELHI (Reuters) - Indian Prime Minister Manmohan Singh warned on Saturday that a prolonged policy logjam could slow economic growth to 5 percent, a day after India unveiled a spate of reforms aimed at reviving growth and preventing a credit rating downgrade.

OSLO (Reuters) - Telenor chairman Harald Norvik quit on Wednesday after the government, which owns 54 percent of the Norwegian group, withdrew support for him over the sale of TV2, the country's top commercial channel. The resignation capped months of controversy since a company jointly owned by Telenor and labor unions sold its 50 percent stake in TV2 to Egmont for 2.1 billion Norwegian crowns ($367 million) in January, giving the Danish firm 100 percent control. "The Minister of Trade and Industry, Mr. ...