Retail giant Wal-Mart Stores will hire over 22,000 people this year, a move that will bring cheer to the country's strained labour market grappling with rising unemployment woes.
Retailers have learnt the costly lesson that stores must be opened where they can get a regular loyal customer base, and not necessarily in prominent locations which create hype and footfalls but no commensurate purchases.
Anand Sharma, who took charge of the nodal ministry for FDI on May 29, said there is no need for a relook at the policy amended in February by the Department of Industrial Policy and Promotion. While the policy does not allow overseas inflow into this sector, the changes in February were perceived to be opening the sector to FDI up to 49 per cent in an Indian firm that has a downstream subsidiary firm in retailing.
Bharti Wal-Mart Pvt Ltd, the joint venture between Bharti Enterprises and retail giant Wal-Mart, opened its first cash-and-carry (wholesale) store in India at Amritsar.
US President Barack Obama's speech to the Muslim world in Egypt Thursday will focus on reconciliation and avoid the apocalyptic vision of the Bush regime, according to experts from the Woodrow Wilson International Center for Scholars
Ten Indian companies, including Mukesh Ambani-led Reliance Industries and telecom major Bharti Airtel, are among the 500 top global companies for 2009
Bharti Wal-Mart Pvt Ltd, the joint venture between Bharti Enterprises and retail giant Wal-Mart, opened its first cash-and-carry (wholesale) store in India at Amritsar in Punjab on Sunday.
With confidence creeping back into the market place and rentals down up to 50 per cent, large retailers are back to drawing up aggressive growth plans. In the next one year, Aditya Birla Retail, Bharti Enterprises, Reliance Retail, Trent, Mahindra Retail and others hope to open new stores spread over five million square feet.
The Financial Times report citing Altavilla's court testimony stated that, "Fiat will name chief executive Sergio Marchionne, Alfredo Altavilla, its head of business development, and Lucio Noto, former vice-chairman of ExxonMobil, to the board of new Chrysler." Altavilla also said Marchionne should be named chief executive and "spend a substantial amount of time in Detroit."
It is of course a coincidence, but the pace of corporate news in India is accelerating while the new government, whose election last week sparked a surge of corporate optimism and a stock market boom, dithers over which ministers to appoint to which jobs.
Wal-Mart defers launch of its first Indian store
Travelling at a speed of 300 km per hour on the Mumbai-Pune-Nagpur route may not be a distant dream for train commuters as a pre-feasibility report submitted to Maharashtra Chief Minister Ashok Chavan has said it is a viable proposition.
Last year, the trade could not take place, for the first time since 1992, due to protests in Tibet in the wake of the Beijing Olympics. This year China has not given its permission so far heightening suspense over resumption of the trade at Taklakot mart in Tibet.
Bharti Wal-Mart's plan to open its first cash-and-carry store in the country at Amritsar on Tuesday has been postponed because of law and order problem in Punjab following violence sparked by killing of a Dera leader in Austria. "Due to the situation in Punjab, Bharti Wal-Mart is postponing the launch of its cash-and-carry wholesale store 'Best Price Modern Wholesale'," the company said on Monday.
It was a mixed bag for the many film personalities who contested the Lok Sabha polls in Andhra Pradesh. Of the twelve personalities from the film industry who had contested the elections, only four managed to win.
'Hoist now with its own petard, Pakistan has hopelessly snared itself in this vortex of jihad-inspired violence. You reap what you sow.'
Domestic car sales showed their upward trend for the third consecutive month with April sales registering 4.20 per cent growth after prolonged decline that started in the second half of 2008.
He may go through bankruptcies, but he couldn't be a savvier self-marketer.
In the final part of an interview conducted days before the Supreme Court fast-tracked the SIT probe into the 2002 Gujarat riots, Chief Minister Narendra Modi talks about national security, vote bank politics, terrorism and the riots.
Coming from a filmi background, it was but natural for Smilie Suri to enter Bollywood.
These days, precocious youngsters have a handle on the laws of supply and demand--not to mention other concepts, like inventory and marketing--by the time they crack double digits.
Software czar Bill Gates, legendary investor Warren Buffett and Apple's Steve Jobs, all known for their business acumen, have been named among the 20 best American CEOs of all time.
Tata Group ranks 13th, Reliance Industries 15th and Infosys 26th. Tata Group and Reliance Industries have been ranked ahead of American industrial conglomerate General Electric (17), German car manufacturer BMW (20), Japanese auto firm Honda Motor (22) and telecom major AT&T (23), among others. However, while the Tata Group slipped in ranking from the sixth place in 2008, Reliance Industries has improved on its previous year's 19th rank. Infosys was not in the list in 2008.
A federal jury has found five people guilty of conspiring to obtain fraudulent work visas for nearly 90 Indian nationals in exchange for at least $20,000 per visa, the US Attorney's Office said.
First-time home buyers have stayed away from the market ever since developers, in a bid to cash in on the market sentiment, focused on launching luxurious projects, bigger in size and priced beyond the reach of average buyers. Property prices across India more than tripled from 2003-07, owing to rising incomes, mortgage availability at inexpensive rates, higher tax benefits and speculators flocking to the market.
Indian retailers put cash & carry on backburner
At a time when companies are cutting costs and jobs to tackle the economic downturn, global retail chain major Wal-Mart has doled out $933.6 million in bonuses to its workers.
"We are looking at new markets", said P G Suresh Kumar, tourist information officer on the sidelines of a roadshow held in the city to promote the state's tourism. Admitting that though there had been a 30 per cent drop in oveseas tourist arrivals, he said it had been adequately compensated with the domestic tourist arrivals in the state.
Though Atchaya Multimedia Creations' Tamil movie has some laugh-out-loud moments, it is nevertheless hopelessly outdated.
All started their entrepreneurial careers by age 15, and one before he broke double digits.
Retailers such as Future Axiom and Vmart have decided to consolidate their business by reaching out to unexplored markets outside major cities, believing them to have been relatively unaffected by the downturn. Future Axiom's mobile bazaar CEO, Ashy Sehgal said, "Instead of spending heavily on attracting more customers in overreached metropolitan markets, we can target the unheeded customer waiting for us in smaller cities."
Reliance Retail has added 485 stores in the last one year, taking the total count to 950 and the footprint is now spread across 77 cities (58 in the last one year) across India. While his critics say Ambani may have lost the plot as the progress of his retail plans are nowhere near what he had sought to achieve, others feel the Reliance chief is just being pragmatic given the not-so-conducive environment for expansion in retail.
'Already, the Taliban's malign influence is spreading unstoppably into society, and into the army and other vital organs of the State.'
Most of the funds have not signed any deals in the past few months as realty prices fell sharply and economic slowdown deepened across the world, which slowed the flow of funds significantly. Red Fort plans to deploy Rs 150 crore (Rs 1.5 billion) in the current quarter and is in talks with a Mumbai developer. But Bedi says finance is a big issue now as most of the projects have been delayed or are yet to take off.
Martin Graham, head of equity markets, LSE, tells Business Standard's Rajesh Bhayani that the disclosure norms in the Alternative Investment Market are as stringent as those followed by LSE.
The privately-held company founded by Indian-American Amar G Bose would not say how many positions would be eliminated at its corporate headquarters in Massachusetts or how many workers it employs there. Bose issued a statement on Tuesday saying it was 'restructuring its operations in response to the decline of the global economy, and its impact on consumer spending.'
In eight weeks, 150 students from multifarious continents stayed interwoven into a stout community.
'As priorities go, if the new White House can prevent girls schools from being closed down and burnt by the neo-Taliban and their ilk, life will be more 'hopeful' for a whole generation in Pakistan-Afghanistan that is already paying a heavy gender price.'
More has-been companies like Citi and GM will feed off taxpayers, investors, and workers. That threatens to sap the lifeblood of healthier rivals and the economy
Bharti loses 24% in 2008 compared to 62% for Tata and over 73% for ADAG. He tried to light an oil lamp with a candle, but somebody had put in too much oil. The wicks were soaked and refused to catch fire.
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