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Tue, Jun 05 2018. 04 59 PM IST
Walmart India has been piloting Mera Kirana over the past four years and now wants to make it part of its mainstream business. Under Mera Kirana, Walmart creates zones in its Best Price wholesale stores that are designed to resemble a modern kirana store. Another tactic that Walmart is experimenting with in India is fulfilment centres. Walmart bought a 77% stake in Flipkart for $16 billion earlier in May. It plans to open 50 new Best Price cash and carry stores. It currently operates 21 of these in the country.
Sat, Jun 02 2018. 06 22 PM IST
Ikea to enter the Indian furniture market with its Hyderabad store this July. The Swedish furniture maker could trigger a price war in India’s $49.5 billion furnishings market. Ikea will offer about 15% of its products at Rs200 or less and announced a tie-up with Urban Clap as its furniture assembly service partner to help customers with Ikea’s range of do-it-yourself (DIY) products. However, the company does not seem to be in a hurry to expand its India footprint with the Mumbai store expected to be launched only in mid-2019. Ikea has 403 stores across 49 markets in the world.
Fri, Jun 01 2018. 04 44 PM IST
The 5/20 rule is set by the Indian Aviation Ministry under which domestic carriers are required to have five years of operational experience and a fleet of minimum 20 aircraft in order to receive permission to operate overseas flights. This norm is applicable to all commercial aviation organisations flying passengers
Thu, May 31 2018. 04 57 PM IST
Around 1 million bank employees are on strike across India. They are demanding salary revision. The strikers are unhappy with a proposed 2% wage rise offer as India’s current inflation rate is around 4.5%. Indian banks are one of the most troubled lenders in the world with high levels of non-performing assets.
Thu, May 31 2018. 04 54 PM IST
According to the India-specific report by FSFW, 68% of smokers reported that they were well informed about the impact of smoking on their health, and 51% were willing to quit it. The FSFW global survey, comprising 17,000 participants across 13 countries, also indicates enormous challenges in creating a one-size-fits-all approach to quit smoking
Mon, May 28 2018. 04 43 PM IST
Ola (ANI Technologies Pvt. Ltd) is adopting a holding company structure similar to that of India’s most successful internet startup Flipkart to boost the cab-hailing company’s valuation, this as per officials who spoke on the condition of anonymity. Once set up the holding company will own different units, including its core cab business, food delivery app Foodpanda and the nascent businesses of electric vehicles and the international unit. These businesses and some others are expected to have their respective heads who will run them independently.
Sat, May 26 2018. 08 21 PM IST
The Central Board of Secondary Education (CBSE) declared the results of Class 12 board examinations on May 26. The overall pass percentage this year is 83.01, up one percentage point since last year. Officials said 12,737 candidates scored 95% or above and 72,599 candidates scored 90% and above in the exam. Seven students with 497 marks out of 500 are in third place. Chahat Bodhraj from Jaipur and Supriya Kaushik from Noida are among these seven students. Here’s what they have to say about their result
Sat, May 26 2018. 08 13 PM IST
Rohingya refugee Robi Alam hasn’t seen his seven brothers for years, all of them scattered around the world by violence in Myanmar. Nearly six years on, the eight brothers are now split across four countries: Bangladesh, India, the United States and Myanmar. When the brothers were last united, in 2012, there were around 1.2 million Rohingya living in Rakhine state. Now fewer than a third remain. Myanmar, which denies the Rohingya citizenship, drove most of the minority out in October 2016 and August 2017 in army-led crackdowns that the United Nations has said may amount to “ethnic cleansing”
Thu, May 24 2018. 02 29 PM IST
Competition Commission of India (CCI) on Tuesday approved Bayer AG’s proposed buyout of Monsanto. Bayer AG’s buyout of Monsanto has been approved by Competition Commission of India(CCI). Post the approval on 23 June, Monsanto will become a subsidiary of Bayer. A probe on initiated on the deal by EU which suspected it would limit competition in Europe. Bayer would acquire Monsanto for $66 billion. It be the largest all-cash transaction on record. The Bayer-Monsanto deal will be the largest ever involving a German buyer
Wed, May 23 2018. 12 27 PM IST
Janata Dal (Secular) leader HD Kumaraswamy will take oath as Karnataka’s chief minister on 23 May. He is heading a JD(S)-Congress coalition government. Congress leader G Parmeshwara will be sworn in as the deputy CM. The combine was invited by governor Vajubhai Vala after BJP’s BS Yeddyurappya quit on 19 May minutes before a floor test as the party could not muster the required majority.