Reliance Retail News
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Billionaire Mukesh Ambani’s push into retail and digital services may help Reliance Industries Ltd. build on its best profit growth in three years amid an economic slowdown and sliding natural gas output, investors say.
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It’s the retail revolution that wasn’t.
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Reliance Retail Ltd., a unit of refiner Reliance Industries Ltd. , plans to open as many as 150 new stores in the next two months, Chief Executive Officer Bijou Kurien said.
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Reliance Retail Ltd., a unit of India’s most valuable company, expects foreign multibrand retailers such as Wal-Mart Stores Inc. may be allowed to enter the country in as soon as six months from now, Chief Executive Officer Bijou Kurien said.
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The U.S. Securities and Exchange Commission began an overhaul of rules adopted after the Crash of 1987 designed to shut down the stock market during periods of volatility, proposing that curbs be triggered when the Standard & Poor’s 500 Index falls 7 percent.
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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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Billionaire Adi Godrej said his company, India’s second-largest consumer goods maker by value, will still depend on small retailers for sales 10 years after foreign companies such as Wal-Mart Stores Inc. open outlets.
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Martin Sorrell, founder of the world’s biggest advertising firm, said online promotions are set to boom in India, spurred by investments in retail by billionaires Mukesh Ambani and Sunil Mittal.
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Wal-Mart Stores Inc. appointed Morten Knudsen chief financial officer for Asia as the world’s largest retailer rebuilds its leadership team in the region.
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