Tariffs unsustainably low, more needs to be done, says Bharti Airtel CEO


on Tuesday said that while the telecom industry has seen some bit of repair, continue to be “unsustainably low”, as it exhorted the sector regulator to address the floor price issue “sooner than later”.

In an earnings’ call, CEO, India and South Asia, Gopal Vittal, said although the company is by-and-large comfortable with its spectrum holding and has the required headroom, it is keen to have sub-GHz footprint across the country to plug some gaps.

Airtel had, on Monday, reported Q4 loss at Rs 5,237 crore, mainly on account of provisioning for paying statutory dues, while its full year losses ballooned to a record Rs 32,183 crore.

Vittal said the industry has witnessed some repair but emphasised that more needs to be done on tariffs, which are still unsustainably low. “We believe that an ARPU (Average Reveue Per User) of Rs 154 is inadequate to turn a reasonable Return on Capital as a company and remain hopeful that ARPUs will get to Rs 200 in the short term and eventually to Rs 300 which is where it should be for a business like ours. Of course, even at this level

Canada, US Border Closure Extended Until June 21: Trudeau


The Canada-US border will remain closed to all non-essential travel for another month, until June 21, to fight the spread of the coronavirus, Canadian Prime Minister Justin Trudeau announced Tuesday.

The world’s longest international frontier at 8,900 kilometers (5,500 miles) was closed to travellers on March 21, but trade in goods has continued.

Trudeau at his daily briefing said this second extension of the border closure was “important … to keep people in both of our countries safe.”

The prime minister also left open the possibility of further extensions, saying: “We will continue to watch carefully what’s happening elsewhere in the world and around us as we make decisions on next steps.”

Some Can$2.4 billion (US$1.7 billion) worth of goods and more than 400,000 people crossed the border each day on average, prior to the pandemic.

Since its closing in March, the number of travellers crossing from one country to the other has fallen to a trickle.

ASX gains 1% as iron ore and gold soar



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