Walmart

  • Walmart to launch e-commerce marketplace in India in July June 15, 2014

    Walmart Stores Inc WMT.N will launch its business-to-business e-commerce platform in the Indian cities of Lucknow and Hyderabad in the first week of July, its India boss said on Friday. The world's largest retailer has 20 wholesale outlets in India, including in Lucknow and Hyderabad, which will support its e-commerce services,...
  • WalMart paid $334 million to end India partnership April 28, 2014

    Mumbai: WalMart Stores Inc paid about $234 million in debt related to the purchase of a stake in its Indian joint venture with Bharti Enterprises, which the US retailer ended in October last year, according to its 2014 annual report. WalMart, the world's largest retailer, had earlier paid $100 million to...
  • Walmart to open 50 wholesale stores in India in 4-5 years April 8, 2014

    New Delhi: Deciding to focus on the cash-and-carry segment in India, retail giant Walmart plans to open 50 wholesale stores in the next four to five years to expand its footprint in the country. About six months after breaking up with the Bharti group, the Bentonville-based firm said on Tuesday...
  • Tata India's most valuable brand; Apple on top globally February 18, 2014

    London: Diversified conglomerate Tata group was on Tuesday declared India's most valuable brand with a value of $21.1 billion, while US-based technology giant Apple has retained its top position globally with about $105 billion. According to a list released on Tuesday of world's 500 most valued brand, Brand Finance Global...
  • Global retailer Wal-Mart sets up new company in India January 19, 2014

    Global retail giant Wal-Mart has registered a new company in India as it prepares to enter the country's lucrative multi-brand retail market with a new partner. The American retail major and Bharti Enterprises decided to part ways in October last year, bringing an end to their six-year long partnership. The retailer...
  • Global retailer Wal-Mart sets up new company in India January 19, 2014

    Global retail giant Wal-Mart has registered a new company in India as it prepares to enter the country's lucrative multi-brand retail market with a new partner. The American retail major and Bharti Enterprises decided to part ways in October last year, bringing an end to their six-year long partnership. The retailer...
  • Walmart wants mandatory local sourcing level reduced to 15 per cent January 12, 2014

    US retail giant Walmart has asked the government to reduce the mandatory local sourcing norm to 15 per cent, saying it cannot meet the stipulated level required to open multi-brand stores in India. "The company had said that it cannot meet the mandatory 30 per cent sourcing norm and can procure...
  • Wal-Mart and partner Bharti Enterprises call off India joint venture October 9, 2013

    Wal-Mart Stores Inc and its Indian partner Bharti Enterprises are breaking up their joint venture and will independently own and operate separate businesses in the country, the companies said in a joint statement on Wednesday. Wal-Mart, the world's biggest retailer, will acquire Bharti's 50 percent stake in Bharti Wal-Mart Pvt Ltd,...
  • Eight injured as man goes on stabbing spree in China August 11, 2013

    Beijing: A man wielding two knives went on a stabbing spree in eastern China on Saturday, injuring eight persons, including two policemen. Liu, a 33-year-old unemployed man, first attacked one of his neighbour with two knives and later wounded five others on a street in Hangzhou City of Zhejiang Province....
  • UPA has surrendered before global retailers: BJP August 3, 2013

    BJP on Friday accused UPA government of surrendering before global retailers like Walmart by diluting the norms for FDI in multi-brand retail and promised to do away with such "flip-flop" in economic policy making if voted to power. BJP spokesperson Meenakshi Lekhi alleged that "specific lobbying" by global retailers had...
  • Cabinet may relax retail FDI norms July 31, 2013

    New Delhi: After powering ahead with the political decision of bifurcating Andhra Pradesh to create Telangana, the Centre is now looking to give reforms a push too in a bid to woo more investors. The Union Cabinet will discuss relaxing foreign direct investment (FDI) in retail policy on Thursday. One of...
  • Cabinet likely to review retail FDI policy July 30, 2013

    New Delhi: The Union Cabinet is likely to review foreign direct investment (FDI) in retail policy on Thursday, government sources have told CNBC-TV18. The agenda also includes the review of multi-brand retail FDI norms. No global retailer has moved so far to file applications with the Foreign Investment Promotion Board (FIPB)...
  • Walmart halts India-specific lobbying in US July 28, 2013

    Washington/New Delhi: Global retail giant Walmart has stopped its lobbying with the US lawmakers on India-specific issues, after continuously seeking their support for about five years to facilitate its entry into the high growth Indian market. The disclosure incidentally comes at a time when Indian government is preparing a...
  • No change in conditions for FDI; if Walmart goes, others will come, says Congress July 23, 2013

    New Delhi: Congress on Tuesday ruled out any "change" in the FDI policy to suit any particular company saying if Walmart goes, others will come. "Why government should think about it? Goverment has not made the policy for one business house. Government has made a national policy and it is...
  • Walmart violated Indian rules governing foreign investment: CBI July 20, 2013

    Mumbai: Walmart Stores Inc violated Indian rules governing foreign investment, the Central Bureau of Investigation (CBI) said in a letter to a member of Parliament seen by Reuters. The CBI said in the letter that according to its analysis, Walmart's investment violated Reserve Bank of India guidelines and Foreign Exchange Management...
  • Red tape, graft: India no super market for Walmart July 8, 2013

    Mumbai: Walmart's India expansion is stalled. When India announced last September that it would allow foreign supermarket chains to take majority ownership of their local operations, it marked a victory for Walmart Stores, which had spearheaded efforts to open the market and said its first retail store would open within...
  • Walmart lobbying inquiry inconclusive; fresh probe likely June 30, 2013

    New Delhi: Walmart may face a fresh probe into its lobbying activities for entering India, after issues raised by a one-man inquiry committee, set up by the government earlier this year to look into this matter, were stonewalled by the global retailer. The inquiry conducted by the panel remained inconclusive...
  • Gunman shoots 4 outside North Carolina law firm, Walmart June 22, 2013

    A man armed with a shotgun and a bag of ammunition opened fire outside a law firm and a Walmart store in Greenville, North Carolina, on Friday, shooting four people before police shot him, the city's police chief said. The suspect and the victims underwent surgery for gunshot wounds and were...
  • New FDI rules a setback for foreign, local retailers June 8, 2013

    Mumbai: New rules requiring foreign supermarkets to set up their own warehouses and stores in India are likely to further delay the entry of companies like Walmart Stores Inc, increase costs and hurt cash-strapped local retailers eager to partner with foreign companies. India allowed foreign chains to enter the country to...
  • Govt examining report on Walmart lobbying: Sachin Pilot May 20, 2013

    New Delhi: The Corporate Affairs Ministry on Monday said it is examining the report of the government-appointed panel that probed Walmart's lobbying activities with US lawmakers to enter the Indian market. "We are examining the report," Corporate Affairs Minister Sachin Pilot said. The one-man committee, headed by former Chief Justice of...
  • Walmart lobbying case 'closed' due to lack of evidence: Sources May 19, 2013

    New Delhi: Investigation into whether US giant Walmart may have bribed Indian officials to gain wider access to the country's vast market has been closed due to lack of evidence, sources said on Sunday. Corporate Affairs Ministry has confirmed and said no evidence of lobbying was found. The one-man committee of...
  • Panel probing Walmart lobbying submits report to govt May 19, 2013

    New Delhi: A committee looking into US giant Walmart's lobbying activities to enter India today submitted its report to Corporate Affairs Minister Sachin Pilot. Former Chief Justice of Punjab and Haryana High Court Mukul Mudgal who headed the panel set up to look into lobbying activities by Walmart, submitted the report...
  • Walmart lobbying: Probe panel to submit report this week May 18, 2013

    New Delhi: The panel looking into retail major Walmart's lobbying activities with American lawmakers for its entry into the Indian market is likely to submit its report to the government in a day or two. The one-man committee, headed by former Chief Justice of Punjab and Haryana High Court Mukul...
  • BJP to oppose entry of Walmart into HP, says Satti May 12, 2013

    Shimla: The Himachal Pradesh BJP, which has been opposing FDI in retail, on Saturday said it would not allow foreign stores like Walmart into the state "Foreign chains like Walmart and Metro Cash and Carry will not be allowed to enter Himachal and the interests of small traders will be...
  • Bangladesh building collapse toll tops 640 May 6, 2013

    Dhaka: Bangladeshi police are investigating possible murder charges against the owner of a shoddily built factory that collapsed nearly two weeks ago after the wife of a garment worker crushed in the accident filed a complaint. The legal development comes as officials on Monday said that the death toll from...
  • Bangladesh: Building owner faces murder complaint May 6, 2013

    Dhaka: The wife of a Bangladeshi garment worker who was killed when a building collapsed filed a murder complaint against the building's owner on Sunday as the death toll from the country's worst industrial disaster climbed to 622. Murder complaints were also filed against the owner of one of the garment...
  • Bangladesh building collapse toll nears 600 May 5, 2013

    Dhaka: The toll in the building collapse on the outskirts of Bangladesh capital Dhaka has swelled to nearly 600, authorities said on Sunday, even as rescuers continued removing concrete slabs and debris 12 days after the industrial tragedy. Hoping to find their missing loved ones, many people were seen around the...
  • 'Speed money' puts brakes on India's retail growth May 5, 2013

    Mumbai: Hong-Kong entrepreneur Ramesh Tainwala spent 18 months operating branded clothing retail stores in India before deciding it was impossible to succeed without paying bribes. Tainwala, a 55-year-old expatriate Indian, owns Planet Retail, which held the India franchise rights for US fashion labels Guess and Nautica as well as UK retailers...
  • Probe panel on Walmart lobbying to meet on Monday May 5, 2013

    New Delhi: The government-appointed panel looking into Walmart's lobbying with American lawmakers for its entry into the Indian market is likely to meet on Monday and deliberate on information provided by the retail giant. The one-man committee, headed by former Chief Justice of Punjab and Haryana High Court Mukul Mudgal, during...
  • Bangladesh building collapse toll exceeds 500, engineer arrested May 4, 2013

    Dhaka: Police on Friday arrested an engineer for negligence in duty in connection with the worst building collapse in Bangladesh that left at least 509 people dead. Abdur Razzak Khan worked as consultant when the owner of the eight-story Rana Plaza in suburban Savar illegally added three floors atop the...