Walmart bought a controlling stake in Flipkart in 2018, giving it ownership of PhonePe. The company said last month it would remain a majority stakeholder in both the companies.
The world's biggest retailer, Walmart, is keen to bring in strategic investors for the Indian e-commerce company but is also open to selling to large pure-play investment firms.
Whoever comes out on top this Diwali gains more than bragging rights. Investors will be watching how Amazon and Flipkart fare against domestic competition such as Reliance.
Oracle & Walmart say American investors will control more than 50% of the new TikTok Global. But this is at odds with ByteDance’s insistence that the company will get a 80% stake.
The job cuts come as competition grows fiercer in the local retail market with Amazon stepping up investment and Mukesh Ambani preparing to roll out his e-commerce venture.
India’s shopkeepers are mobilizing against Amazon & Flipkart, alleging they are engaged in predatory pricing in violation of rules meant to protect local businesses.
The US and Israel’s assassinations of Iranian leadership ended up bestowing martyrdom on those killed. Shias saw the deaths as a continuity of martyrdom from the Battle of Karbala.
India’s fast-growing data centre sector may strain state electricity networks; Central Electricity Authority has urged Maharashtra, Andhra Pradesh, Telangana and Tamil Nadu to boost capacity.
Theaterisation, which aims to divide the forces into three theatres with specific areas of responsibility, will become the single most far-reaching reform that the Indian military has witnessed since independence.
China patiently invested capital, skill and technology in coal gasification. Unlike it, we won’t move from words to action. As crude prices decline, we lose interest.
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