Bharti Global and UK government-led OneWeb on Friday announced the launch of 36 communications satellites and said it aims to offer high-speed internet from its constellation of satellites in India by mid-2022. The recommencement of satellite launches by OneWeb comes within weeks of billionaire Sunil Bharti Mittal-run Bharti Group along with the British government taking over as the new owners of the broadband satellite communications company, which emerged from bankruptcy. The Low Earth Orbit (LEO) broadband satellite communications company on Friday launched the 36 satellites from a Soyuz launch vehicle, which began from the Vostochny Cosmodrome, in Russia.
The joint-venture's first wholesale store is expected to be opened by the end of 2008, Wal-Mart India President (Operations) Raj Jain had said.
SoftBank will hold majority stake in the joint venture.
It's certainly not the way the world' s largest retailer would have wanted to enter India. But it's nonetheless a turning point for the Indian retail market.
Bharti Enterprises, which has tied-up with Wal-Mart, on Friday said discussions are on over business arrangement with the US firm for their retail venture.
Coming under flak by the Left parties for Wal-Mart's entry into the Indian retail market, Bharti Enterprises on Friday said its tie-up with the US firm was "as per the guidelines".
Reliance Retail and Bharti Enterprises are understood to be in talks to buy India assets of the world's second largest retailer Carrefour that has decided to exit the country by closing its five stores.
Singapore Telecommunications has stepped up its stake in Bharti Televentures to 30.84 per cent from the current 28.16 per cent.
This is the single largest foreign investment in India so far.
Services and manufacturing conglomerate Bharti Enterprises on Thursday announced its foray into agri-business in partnership with Rothschilds with an initial investment of Rs 250 crore (Rs 2.5 billion).
Ramnik Narsey, the new chief, had joined the retail giant in May 2013.
Following the foray of Essel and Essar groups into the online lottery segment, another leading conglomerate Forbes Group on Friday said it will enter the segment and launch its product 'DhanDhanaDhan' next month.
Telecom operators are not opposed to over-the-top service providers like Skype, Viber, WhatsApp but looking to work in synergy with them, Bharti Enterprises Vice Chairman Akhil Gupta said on Wednesday.
The Enforcement Directorate, which probed the alleged contravention of foreign exchange laws by Walmart in its investments in domestic supermarket chain Bharti Enterprises, has found no violation of FDI guidelines by the US multinational retail giant.
In October, Wal-Mart called off its six-year-old partnership with Bharti Enterprises and decided to operate wholesale stores independently in India.
Billionaire Gautam Adani's Group on Wednesday announced the acquisition of SoftBank Group Corp's renewable power business in India for a deal value of $3.5 billion (approximately Rs 25,500 crore), to become the world's largest solar company. In a statement, Adani Green Energy Ltd, the renewable energy unit of the port-to-energy conglomerate, said it has inked share purchase agreements to buy 100 per cent of SB Energy India from SoftBank and Bharti Group. Without giving deal details, the statement said the transaction values SB Energy India at an enterprise valuation of approximately $3.5 billion, it stated. The transaction marks the largest acquisition in the renewable energy sector in India.
The high-profile departures have their roots in red tape and business-unfriendly policies.
Retail giant Walmart and Bharti have decided to part ways.
People given to hyperbole would say that Gopal Vittal's rise at Bharti Airtel has been "meteoric". But in his case, superlatives could perhaps be forgiven. Here's why
Most public sector banks, flush with deposits now, offer 3-4% interest on savings deposits, while a few private sector banks go up to 6%.
Bharti Retail launched its first mall, The Pavilion, in Ludhiana.
Standard Chartered, Barclays, Citibank, Deutsche Bank are among investment banks that are involved in the process of facilitating investor meets in Asia, Europe and the United States.
Lack of time was cited as the main reason for Bharti Chairman Sunil Mittal's exit from the Unilever board.
Bharti Enterprises has had a joint venture with Walmart in the wholesale trade for years in India.
The two JV partners have undertaken an empowerment initiative for Indian women entrepreneurs, having set a target of impacting the lives of 25,000 women by 2016. They have also said they will substantially increase sourcing from women-owned businesses in India.
Government think-tank body Niti Ayog CEO Amitabh Kant supported the industry demand and called for setting up of a single window clearance system for expeditious approval of projects. Start-ups and small medium enterprises requested the prime minister to provide support in low-cost capital at the virtual launch of space and satellite industry body Indian Space Association (ISpA).
The world's largest retail chain, the $446-billion Walmart, is likely to be the first international player to take off in India with its supermarket format. The Bentonville-based US giant is, in fact, ready with a network of 195 stores across India if it decides to extend its back-end and cash-and-carry partnership with Bharti Enterprises to front-end retail.
A billion dollars in renewable energy is huge.
The letter was jointly written by Bharti Enterprises Chairman and Group CEO Sunil Bharti Mittal, Aditya Birla Group Chairman Kumar Mangalam Birla and Vodafone Group Plc CEO Vittorio Colao.
We are already seeing pressure of inflation, we also seeing slowdown in manufacturing, hope excise rates are not increased because that will get passed to the consumer.
The UK-based casual dining restaurant chain PizzaExpress has kicked off the process of starting its India operation, almost eight months after signing a 50-50 joint venture partnership with Bharti Family Office.
Plans outlets smaller than in the US, with mostly Indian products, and a desi nameplate.
'YamaTough', the activist behind the 'Lords of Dharmaraja' hackers group, told Infosec Island, an information security Web site, 'Our goal is Bharti Mittal go off political arena and stop manipulating our government.'
Bharti Retail on Friday announced appointments of former head of Walmart India Raj Jain as its CEO and Pankaj Madan, another senior executive of erstwhile joint venture Bharti Walmart, as Chief Financial Officer.
While Walmart's 50:50 joint venture with Bharti Enterprises -- Bharti Walmart, is talking to the Punjab government to maintain and modernise slaughter houses in the state, French retailer Carrefour has adopted a municipal school located near its wholesale store at Seelampur in Delhi.
These trusts are being registered under a new framework.
In a move that is being seen as a snub to Walmart, Commerce and Industry Minister Anand Sharma on Thursday cancelled a meeting with US retail giant's Asia head Scott Price.
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