Raj Jain News
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Wal-Mart Stores Inc., the world’s largest retailer, is in talks with partner Bharti Enterprises Pvt. about opening retail outlets in India after the government eased rules for foreign ownership in multibrand store chains.
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India's UPA coalition government, widely accused of policy paralysis after having seen annual economic growth dip under its watch to 5.5 percent from more than 8 percent, initiated a slew of reform measures last weekend designed to attract foreign capital and restore investor confidence. The most significant of these reforms was the opening up of the retail sector to foreign investment, a decision first made by the government last November but subsequently rescinded after vociferous resistance both from the opposition and some of the coalition's own partners.
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India’s opening up of foreign investment in retail may see Wal-Mart Stores Inc. be the first to tap the $505 billion market as Carrefour SA and Tesco Plc focus on battling falling profits and consumer spending.
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India’s government approved plans to allow foreign retailers to open outlets that sell more than one brand, opening up a $505 billion market to such companies as Wal-Mart Stores Inc. and Carrefour SA.
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Wal-Mart Stores Inc. , blocked from opening retail outlets in India, is reaching consumers in the world’s second second-most populous nation by supplying their stores and restaurants.
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Wal-Mart Stores Inc. may open hundreds of stores in India, the world’s second-most populous nation, should the government lift a ban on foreign direct investment in multi-brand retailers.
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Wal-Mart Stores Inc. and Carrefour SA may gain access to the retail market of the world’s second most-populous country after an Indian government panel was said to have recommended easing restrictions on the industry.
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Five European banks have a total of 4.8 billion euros ($6.8 billion) of derivatives contracts with the Italian government, according to data released for the first time by European regulators.
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Wal-Mart Stores Inc ., the world’s biggest retailer, and Alcatel-Lucent SA urged India’s government to pull 828 million people out of poverty to sustain consumer demand and boost economic growth.
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Wal-Mart Stores Inc. and Carrefour SA may need to invest at least $100 million to start retail stores in India after a state panel set terms in its recommendations for opening the market.
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