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.
Wal-Mart Stores continues to top the Fortune 500 list.
With robust sales, the company bounced back to the top spot in the Fortune 500 list.
Joint venture will enable it to get foot in the door of rapidly growing market.
The government eased investment rules for the retail sector on Thursday in a renewed attempt to attract foreign supermarket operators such as Wal-Mart Stores Inc and Tesco.
Retail giant Walmart and Bharti have decided to part ways.
Wal-Mart has accused Visa of excessively high card swipe fees, several months after the retailer opted out of a class action settlement between merchants and Visa and MasterCard Inc.
The delay and faltering partnership mean Wal-Mart may miss out on the "first-mover" advantage in a country considered the last great frontier for global retailers.
Federal authorities alleged that Wal-Mart did not have a programme in place and failed to train its employees on proper hazardous waste management and disposal practices at the store level.
The committee met the representatives of Walmart Asia as well as those of Bharti Walmart Private Ltd, the company's Indian joint venture with Bharti group, along with their counsel in New Delhi.
Wal-Mart and other retailers lobbied for years to gain access to India's market, lured by the promise of a middle class that will one day rival China's.
Tapping customers to deliver goods would put the world's largest retailer squarely in middle of a new phenomenon sometimes known as 'crowd-sourcing,' or the 'sharing economy.'
Wal-Mart said in its annual report, filed with the US Securities and Exchange Commission, that it could not estimate how much loss would come to because of the complexity of the related probes and internal review.
Bharti-Walmart, the joint wholesale retail venture between Bharti Enterprises and the world's largest retailer Wal-Mart Stores Inc of the US, unveiled its sustainable agricultural programme at Haider Nagar village, near Malerkotla in Punjab.
Asked for comments about Commerce and Industry Minister Anand Sharma informing the Rajya Sabha in September that Wal-Mart had made the investment in Cedar via its Mauritius arm but the RBI had no FDI data of the same, Mittal said: "I have no idea. We have given everything what is required".
Oil giant Exxon Mobil beat Wal-Mart Stores to become America's largest corporation.
Walmart is happy with its current partnership with Bharti.
Bharti Enterprises and US-based Wal-Mart Stores entered into a joint venture in August 2007 and started cash-and-carry stores named 'BestPrice Modern Wholesale' last year.
Ten Indian companies, including Mukesh Ambani-led Reliance Industries and telecom major Bharti Airtel, are among the 500 top global companies for 2009
As an increase in FDI in retail is being opposed, local retailers have a thriving year.
Eighteen months hence, Reliance Retail is a 600-store chain, while Wal-Mart, which had planned to start operations by the year-end, has deferred the launch to 2009.
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.
The Bharti Group will on Monday announce a tie-up with Walmart for its retail operations, under which the world's largest retailer would manage the back end operations.
Wal-Mart chief S Robson Walton met Prime Minister Manmohan Singh and Sharma last week and discussed the foreign direct investment scenario in the retail sector in India.
Speaking at Assocham's international retail summit, Rakesh Kacker, additional secretary in the Department of Consumer Affairs, said the government would take a decision at an "appropriate time". He did not specify the time-frame. The move has been in abeyance due to protests from across the political spectrum.
Bharti Wal-Mart, a joint venture between Bharti Enterprises and US-based retail giant Wal-Mart stores, on Friday said it will commence its wholesale cash and carry operations by early next year from the northern region.
After Wal-Mart, China National Petroleum is the second biggest employer with 1.61 million employees in 2008 followed by the State Grid with 1.53 million employees in the third place, followed by the US Postal Service with 765,088 employees in the fourth place, followed by Sinopec with 639,690 employees in the fifth place.
In the main list, Wal-Mart (revenue of $378.8 billion) is followed by energy giant ExxonMobil (372.8 billion dollars), which had topped the retail major from its top slot in 2006.Others in top 10 include Chevron, GM, ConocoPhillips, GE, Ford, Citigroup, Bank of America and AT&T.
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.
After having depended largely on direct online marketing since 1990s, Dell's personal computers are now on sale in Wal-Mart stores in the US and Puerto Rico.
Telecom major Bharti and world's biggest retailer Wal-Mart Stores Inc on Monday signed an agreement to form a joint venture for their wholesale cash and carry business.
With the first Dell personal computers going on sale in Wal-Mart Stores in the US and Puerto Rico, the $56 billion company is reportedly planning to sell its PCs through retail stores in Asia (including India) and Australia.
In the subcontinent, Wal-Mart is aiming for slow and steady growth.
31-year-old Douglas Hatchett was buying shoes when the rattler bit him. He was later released after treatment.
Retail giant Walmart has the world's largest number of employees.
Authorities didn't immediately say what may have prompted the incident in Amarillo, a city in the Texas Panhandle.
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