Royalty payments News

Indian energy giant Adani Group said on Tuesday that it has struck a deal on 'royalties payments' with the Queensland government for its 21.7 billion dollars coal mine project in Australia, a major breakthrough for the controversy-hit Carmichael venture.

Apple Inc has decided to withhold royalty payments to its contract manufacturers that are owed to Qualcomm Inc, until a legal dispute between the companies is resolved, the chipmaker said on Friday.

Nokia said on Tuesday that South Korea`s LG Electronics has agreed a deal to use the Finnish company`s smartphone patent license but royalty payments will be settled in a lengthy arbitration process.

The detailed royalty payment obligations will be subject to commercial arbitration and is expected to conclude within a 1-2 year timeframe. Other terms of the agreement remain confidential.

The Finance Ministry has turned down a DIPP proposal seeking re-introduction of restrictions on royalty payments for preventing excessive outflow of foreign exchange, saying it would send a negative signal to overseas investors.