Walmart CFO says Flipkart open to IPO, but doesn’t set specific timeline

Walmart’s Chief Financial Officer (CFO) Brett Biggs said there is no specific timeline for Flipkart’s initial public offering, even though the online retailer is on a profitable path. “The (Flipkart) business is performing almost as well as we thought. An IPO is still too much for that business. Like everything else, it’s time. Is the … Read more

Tariff hike to bring big benefits for Jio and Airtel, less pain for Vodafone Idea

Analysts said Bharti and Reliance Jio Infocomm could garner an additional ₹7,500 crore in annual free cash flow (FCF) and increase market share after the latest round of prepaid tariff hikes. The increase in prices reported in the second quarter of the financial year is expected to boost the average revenue per user (ARPU) of … Read more

India needs a national disaster pool to protect against natural disaster risks, says SBI report

With the incidence and severity of natural disasters increasing over the years, a report called for the creation of a national disaster pool, as the country is one of the most disaster-prone countries in the world. India ranks third after the US and China in the number of natural disasters since 1900, with 756 natural … Read more

India not untouched by social tensions: Nitin Paranjpe, COO of Unilever

COO Nitin Paranjpe said India is not going to be untouchable by movements like BlackLivesMatter and StopAsianHeat, and social fault lines are not going to be limited to a few countries like the United States. “Don’t assume that India is going to be immune to such movements. The axis of tension may be different but … Read more

Piyush Goyal will not compromise on India’s interests in WTO

Commerce and Industry Minister Piyush Goyal said that India will push for significant outcomes in the upcoming World Trade Organization (WTO) ministerial without compromising the interests of the country and will insist on a permanent solution to the public stockholding issue. Goyal, who is also the consumer affairs minister, told ET in an interview that … Read more

EU countries agree on common stance on new rules for US tech giants

European Union countries agreed on Thursday a normalcy on new rules to curb the power of US tech giants and force them to do more to police their platforms for illegal content. However, he will have to share the final details with EU lawmakers, who have proposed stricter rules and higher fines. Frustrated by the … Read more

Devas investors seek US court’s help to track Antrix’s assets

Shareholders of Devas Multimedia have urged a US federal judge to allow them to track the assets of Antrix, the commercial arm of India’s space agency, across the United States. It is an attempt to enforce the $1.3 billion arbitral award that the court upheld last year. Zilly of the United States District Court for … Read more

India, US sign agreement on 2% equalization levy

New Delhi: India and the United States have reached an agreement to settle differences related to the 2% equalization levy imposed by New Delhi on e-commerce operators. The agreement is roughly on the lines of the unilateral measures agreement signed between the UK, Austria, France, Italy and Spain with the US on October 21 this … Read more

China slams US for inviting Taiwan to ‘Summit for Democracy’

Angered at the Biden administration’s invitation to Taiwan to attend the “Summit for Democracy”, China warned the US on Wednesday it would “hurt” Taipei by giving it a world stage as Beijing itself called the summit a slogan. given that the purpose of the event was to pursue Washington’s “geopolitical games”. The US State Department … Read more

US yet to take any decision on possible CAATSA waiver to India on S400 purchase from Russia: Officials

The US has not yet made a determination on any potential CAATSA exemption to India for the purchase of the S-400 missile defense system from Russia, the Biden administration has said, pointing out that the law does not attach country-specific exemption provisions. and bilateral dialogue on this subject will continue. The State Department’s remarks come … Read more