Former Loop chief asserts Essar control
India's Essar Group controlled Loop Telecom at the time the latter bid for and won 2G spectrum, according to a court-admissible statement from the former Loop chief. The Central Bureau of Investigation has been probing allegations of such control, which would be in contravention of market regulations.
STC, Mobily launch LTE services
Saudi Telecom and rival Mobily have launched competing LTE services. The operators together capture around 80% of Saudi Arabia's mobile subscribers.
Facebook said to postpone IPO until late 2012
Facebook now favors delaying any IPO until at least September next year, in order to maintain its focus on product developments, according to sources.
First Windows 8 PCs to use Snapdragon chips
Qualcomm has partnered with Microsoft to provide its Snapdragon chipsets for the first generation of Windows 8 PCs
Motorola's Jha in for $66m golden parachute
Motorola Mobility CEO Sanjay Jha will be eligible for a $66 million golden parachute payment – including $13.2 million in cash - if Google succeeds in acquiring the company.
Paypal demos physical store payment system
Paypal has provided a sneak peak of its payment system for brick and mortar retailers, demonstrating a solution that will not require stores to upgrade their infrastructure to accept PayPal payments.
UK govt accused of inertia on cyber protection
A think-tank has accused the UK government of failing to adequately protect critical infrastructure such as power and water systems from cyber attacks, and also criticized the preparedness of the private companies that own the assets.
Dutch vendor unveils solid gold phone
Danish retailer Aesir has developed an 18-carat solid gold mobile phone. The $57,400 handset, which lacks any extra applications such as email or GPS, will be marketed to Russia's nouveau riche.