News Digest: Labour reforms, Airtel-Jio battle, FIFA World Cup, and more

From Centre's plan to reform laws to FIFA World Cup 2018, BS brings you up to date with the latest news

Govt wants India Inc to overhaul salaries, proposes higher basic income

The Centre is planning to reform labour laws to ensure employers do not keep basic income low in order to reduce contributions towards social security schemes.

The proposal to make basic income a major component of salary could lead to a decline in the take-home pay of workers as contributions towards provident fund, insurance and gratuity may rise alongside a higher tax outgo. Read more 

Airtel, Jio to battle for supremacy with fibre-to-home broadband services

The next big battle for telecom companies will be fought over getting consumers to use fibre-to-the-home (FTTH), which offers broadband, voice as well as TV.

The country’s largest telecom company, Bharti Airtel, is aggressively rolling out last-mile connectivity with an ambitious target of reaching over 20 million addressable households in 90-100 cities in the next three years. That is equivalent to a third of the number of direct-to-home (DTH) households in the country. Read more 

Taiwan co, Adani may join hands to set up Rs 400 bn petrochemical project

Gujarat is likely to see one of the largest foreign direct investments (FDI) in recent years with Taiwan's state-run petroleum major China Petroleum Corporation Taiwan (CPC Taiwan) set to come up with Rs 400 billion petrochemical park at the Mundra SEZ. Read more 

India, US hope to resolve trade disputes as Suresh Prabhu holds talks

India will push for amicable solutions to trade disputes with the United States while hoping to address American concerns over market access and tariff levels during bilateral meetings between the two nations due soon.

The decision was taken after Commerce and Industry Minister Suresh Prabhu visited Washington over the past two days. Prabhu held deliberations with United States Secretary of Commerce Wilbur Ross, United States Trade Representative Robert Lighthizer and Secretary of Agriculture Sonny Perdue. Read more 

FIFA set to make $6.1 billion from World Cup 2018

China’s men’s national team has played in just one World Cup, in which it finished 31st out of 32 teams. But the nation is playing an essential role in righting the financial ship of FIFA, the governing body for world soccer that has struggled to regain the trust of Western companies in recent years. Read more