User: rohan Topic: Foreign Direct Investment in Retail
Category: Big Box Retailers :: All
Last updated: May 22 2018 10:10 IST RSS 2.0
 
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Top News: Moody's downgrades PNB, Nipah virus, Karnataka elections and more 22.5.2018 Latest News
Nipah virus killed 9 in Kerala, Karnataka MLA said the audio tapes alleging poaching by BJP were fake; Vishal Mega Mart would see ownership change, Moody's downgraded PNB. Catch latest updates here
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Partners Group, Kedaara Capital Fund to buy Vishal Mega Mart 22.5.2018 Business Standard: News Now
Though the deal size was not disclosed, sources said it was expected to be around Rs 50 billion.
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Ather Energy launches charging infra in Bengaluru 21.5.2018 General News
Indian hardware start-up Ather Energy today announced launch of its charging infrastructure for electric vehicles (EVs), AtherGrid, which is open to all EVs. The company, known for its electric scooter S340, has begun installations of charging stations across the city of Bangalore, a statement said. As many as 30 charging points will be set up by the end of May 2018. * * * * * Faircent.com gets NBFC certification from RBI * Peer-to-peer (P2P) lending platform Faircent.com today said it has received NBFC certification from the Reserve Bank that will boost company's prospect to expand further. The accreditation makes Faircent.com the first P2P lending platform in the country to receive the certificate of registration as an NBFC-P2P by the national regulator, the company said in a statement today. Faircent.com platform currently has more than 40,000 registered lenders and 3.5 lakh registered borrowers, and has facilitated over 6,000 loans cumulatively till date. * * * * * Wonderchef in ..
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Retailers to move CCI against Walmart-Flipkart 21.5.2018 General News
Retailers have joined hands to approach fair trade regulator CCI against USD 16 billion Walmart-Flipkart deal as they apprehend that the it would lead to massive job loss and be a "nightmare for retail trade" of the country. Traders body CAIT in a strongly worded statement today alleged ruling party BJP of bias towards multi-national companies and deviating from its commitment made in 2014 election manifesto. The Confederation of All India Traders (CAIT) said that it will move fair trade regulator CCI to file objections on the proposed Walmart-Flipkart deal, claiming that the agreement would lead to an uneven playing field and massive job losses. On the other hand, an online sellers industry body today moved the Competition Commission of India (CCI) against Flipkart India Pvt Ltd, a wholesale company, for allegedly abusing its dominant position on Flipkart's online marketplace. Emails sent to Flipkart did not elicit a response. Global retail giant Walmart had last week approached ..
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Online selllers body moves CCI against Flipkart 21.5.2018 General News
An online sellers industry body today moved the Competition Commission of India (CCI) against Flipkart India Pvt Ltd, a wholesale company, for allegedly abusing its dominant position on Flipkart's online marketplace. The All India Online Vendors Association (AIOVA), which claims to represent over 3,500 sellers on various e-commerce platforms, in a statement alleged that Flipkart India Pvt Ltd, a dominant player, has abused its position. "Flipkart India, the subsidiary of Flipkart Singapore, is a wholesale dealer which acquired goods from various persons and was immediately selling the goods to retail sellers like WS Retail Services and others at huge discounts, who subsequently would sell those goods at unmatched prices as sellers on internet platform under the name 'Flipkart.com'," AIOVA said in its statement. Emails sent to Flipkart did not elicit a response. The representative body claimed that such a "preferential treatment and discriminatory conduct", which is prohibited under ...
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CAIT to move CCI on Walmart-Flipkart deal 21.5.2018 General News
Traders' body CAIT today said it will move fair trade regulator CCI to file objections on the proposed Walmart-Flipkart deal, claiming that the agreement would lead to an uneven playing field and massive job losses. Global retail giant Walmart had last week approached Competition Commission of India (CCI) for approval of its proposed acquisition in Flipkart, saying the deal doesn't raise any competition concerns. Walmart seeks to acquire 77 per cent stake in the homegrown e-commerce firm with a buyout of USD 16 billion. Opposing the deal, the Confederation of All India Traders (CAIT) today wrote to Commerce Minister Suresh Prabhu and sought to know what steps the government has taken to scrutinise the deal. CAIT Secretary General Praveen Khandelwal said important issues related to FDI policy, cyber security, apprehension of using e-commerce for entering retail trade by circumventing the law etc are involved in the deal and looking at the stiff opposition from trade bodies, online ...
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Battle of the giants: HUL beats ITC in both volume and M-cap 21.5.2018 Rediff: Business
Price cuts post the November GST rate rationalisation helped improve volume growth for HUL, what pegged back sales for ITC is adverse social media rumours against Aashirvaad atta, its single-largest FMCG brand.
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Trent embarks on expansion plan 19.5.2018 Hindu: Home
Company to open 30 stores by March 2019; unperturbed by Walmart-Flipkart deal, says CEO
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Affected workers to be redeployed, says telecom secy Aruna Sundararajan 19.5.2018 Latest News
The new telecom policy is in the final stage of public consultation and will be announced by next month
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Walmart approaches CCI for approval of Flipkart acquisition 18.5.2018 General News
Global retail giant Walmart has approached fair trade regulator CCI for approval of its proposed acquisition of a majority stake in e-commerce major Flipkart, saying the deal doesn't raise any competition concerns. Stating that the proposed acquisition would be done through its subsidiary Wal-Mart International Holdings, Walmart has told the regulator that Flipkart is a Singapore-based investment holding firm, which along with its direct and indirect subsidiaries, both in India and elsewhere, is primarily engaged in the business of wholesale cash and carry of goods and providing marketplace based e-commerce platforms to facilitate trade between customers and sellers in India. Mergers and acquisitions beyond a certain threshold require the approval of the Competition Commission of India (CCI). According to the notice submitted to the CCI by Wal-Mart International Holdings, the proposed transaction will be effected pursuant to the share purchase agreement and the share issuance and ...
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Delhi food min directs daily market inspection over reports of rising pulses, sugar prices 18.5.2018 General News
Delhi Food and Civil Supplies Minister Imran Hussain today expressed concern over reports of rising retail prices of pulses and sugar and directed officials of his department for daily inspection of the markets. The officials of the department, however, informed the minister that prices of pulses and sugar were "stable" in the national capital. "Hussain reviewed the retail prices situation of pulses and sugar. He expressed concern over media reports regarding rising retail prices of pulses and sugar. The department informed that the prices of pulses and sugar are stable in Delhi," a government statement said. The meeting was attended by officers of the marketing and intelligence cell, food and civil supplies department. "There was no price rise either in the wholesale market or in the retail market. Marketing and intelligence cell continuously checks the wholesale as well as retail prices regularly," the department officials told the minister. Hussain directed the department to ...
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PhonePe plans to ride on Walmart to become e-payments king 18.5.2018 Rediff: Business
PhonePe wants to dethrone its Alibaba and SoftBank-backed rival, Paytm, claiming that additional capital that Walmart will bring to the table will help it grow much faster
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Govt to provide alternative jobs to those laid off by telcos: Telecom secy 18.5.2018 Business Standard: News Now
Some estimates peg the number of job losses in the sector, which has been passing through choppy waters after the launch of the aggressive offerings by the deep-pocketed Reliance Jio, at over 90,000
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RIL's used "PET bottle" reverse vending machine inaugurated in Mumbai 18.5.2018 Sify Finance
Reliance Industries (RIL) on Thursday said that Shiv Sena Leader Aaditya Thackeray has inaugurated its "post-consumer (used) PET bottle Reverse Vending Machine" (RVM) in Mumbai.
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Govt to help workers laid-off by telcos: Secy 18.5.2018 General News
Concerned at the job losses in the telecom sector, the government has begun helping the affected employees get alternative employment, and retrain and redeploy them, a top bureaucrat has said. Some estimates peg the number of job losses in the sector, which has been passing through choppy waters after the launch of the aggressive offerings by the deep-pocketed Reliance Jio, at over 90,000. "The efforts are on at three levels. First of all, we have to ensure that people at the lower levels, who are working at the retail outlets...we have to ensure that their futures are sustained," telecom secretary Aruna Sundararajan told reporters on the sidelines of an event here late last evening. The first focus is to stabilise the sector, she said, adding that this work is being done primarily through the new telecom policy, which is currently undergoing public consultations before its finalisation next month. "We are trying to open up new employment opportunities like public wi-fi
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Walmart online sales surge, earnings beat expectations 18.5.2018 General News
US retail giant Walmart saw quarterly profits take a hit but earnings beat analysts' expectations and total sales rose amid the growth of its online business, the company said Thursday. Net income was down USD 905 million from the same period last year to $2.134 billion. But the key earnings per share measure was $1.14, two cents higher than expected. And net sales, at $121.6 billion, were up 4.4 percent over the same period last year -- more than $1 billion higher than expectations. Walmart, which is trying to compete with online giant Amazon, saw US comparable store sales rise 2.1 percent and customer traffic increase 0.8 percent, although the unseasonably cold weather hurt sales in the United States. US online sales surged 33 percent compared to the same period of the prior year and added a full point to overall sales growth. "We are changing from within to be faster and more digital, while shaping our portfolio of businesses for the future," Walmart chief Doug McMillon said in a ..
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RIL's used "PET bottle" reverse vending machine inaugurated in Mumbai 17.5.2018 General News
Reliance Industries (RIL) on Thursday said that Shiv Sena Leader Aaditya Thackeray has inaugurated its "post-consumer (used) PET bottle Reverse Vending Machine" (RVM) in Mumbai.
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Wall Street slips as Cisco drags, bond yields rise 17.5.2018 General News
(Reuters) - Wall Street's main indexes dropped on Thursday as U.S. bond yields climbed to a seven-year high and Cisco's forecast disappointed, while looming Sino-U.S. trade talks added to the jitters.
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Amazon readies plan to take on Walmart in India's retail space 17.5.2018 Rediff: Business
While the talks are still at a preliminary stage, sources said major retail players had held discussions with Amazon
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Good for retail industry: Atul Chaturvedi on Walmart-Flipkart deal 17.5.2018 Sify Finance
[India], May 17 (ANI): American retail major Walmart's acquisition of 77 per cent stake in Flipkart is good for the retail industry and will create more job opportunities, said Atul Chaturvedi,
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