Henry's Feed
Dec 3, 2011

India govt “fooling country” over foreign supermarkets

MUMBAI, Dec 3 (Reuters) – India’s government is
fooling the country about the benefits of foreign supermarkets,
an opposition leader said on Saturday, bolstering resistance to
the reform agenda of beleaguered Prime Minister Manmohan Singh.

A decision to allow global giants such as Wal-Mart
into India’s $450 billion retail market, the first major
economic reform since Singh’s graft-riddled term began in 2009,
has been met with fierce opposition from parties who say it will
destroy the livelihoods of millions of small traders.

Dec 2, 2011

Jewellery shops give stiff competition to gold ATM

MUMBAI (Reuters) – Teenage girls pose for pictures beside the latest arrival in Mumbai’s modern Phoenix Mills mall — a gold ATM machine selling jewellery and $600 gold coins — but for more than just window-shopping, it faces stiff competition from traditional stores.

India’s first such machine may be grabbing the attention of passers-by in the world’s biggest bullion market, but upstairs in an air-conditioned store, the sparkling gold and silver bangles offered by smiling sales assistants have customers grabbing their credit cards.

Dec 2, 2011

Gold ATM offers convenience, not glamour, to India jewellery fans

MUMBAI (Reuters) – Teenage girls pose for pictures beside the latest arrival in Mumbai’s modern Phoenix Mills mall — a gold ATM machine selling jewellery and $600 gold coins — but for more than just window-shopping, it faces stiff competition from traditional stores.

India’s first such machine may be grabbing the attention of passers-by in the world’s biggest bullion market, but upstairs in an air-conditioned store, the sparkling gold and silver bangles offered by smiling sales assistants have customers grabbing their credit cards.

Dec 2, 2011

Gold ATM offers convenience, not glamour, to India jewellery fans

MUMBAI, Dec 2 (Reuters) – Teenage girls pose for
pictures beside the latest arrival in Mumbai’s modern Phoenix
Mills mall — a gold ATM machine selling jewellery and $600 gold
coins — but for more than just window-shopping, it faces stiff
competition from traditional stores.

India’s first such machine may be grabbing the attention of
passers-by in the world’s biggest bullion market, but upstairs
in an air-conditioned store, the sparkling gold and silver
bangles offered by smiling sales assistants have customers
grabbing their credit cards.

Nov 30, 2011

BSE Sensex rises in choppy trade

MUMBAI (Reuters) – The BSE Sensex closed a choppy Wednesday session 0.7 percent higher, reversing early losses as second-quarter growth met forecast, with Reliance Industries (RELI.NS: Quote, Profile, Research) leading the gains, while gloomy global economic conditions continued to weigh.

Dragged down by turmoil overseas, rampant inflation and a series of interest rate hikes by Asia’s most hawkish central bank, data on Wednesday showed India’s economy grew 6.9 percent in the last quarter, its slowest rate in more than two years.

Nov 30, 2011

Indian shares rise in choppy trade; GDP data meets f’cast

MUMBAI, Nov 30 (Reuters) – Indian shares closed a
choppy Wednesday session 0.7 percent higher, reversing early
losses as second-quarter growth met forecast, with Reliance
Industries leading the gains, while gloomy global
economic conditions continued to weigh.

Dragged down by turmoil overseas, rampant inflation and a
series of interest rate hikes by Asia’s most hawkish central
bank, data on Wednesday showed India’s economy grew
6.9 percent in the last quarter, its slowest rate in more than
two years.

Nov 27, 2011

India supply chain chaos next hurdle for global retailers

MUMBAI, Nov 27 (Reuters) – Seven years ago, when
India’s Future Group retail giant sent shipments from Mumbai on
the country’s west coast to Kolkata in the north-east, the
products took 10 nervous days to arrive.

“You sent the goods, and until you received them, you just
prayed,” said Anshuman Singh, managing director and chief
executive officer of Future Supply Chains. “There was just a
black hole until they finally reached the destination.”

Nov 26, 2011

Tata’s choice of chairman preserves Parsi tradition

MUMBAI, Nov 26 (Reuters) – The days when Mumbai’s
Parsi community dominated a city they helped to build may have
faded, but the rise of Cyrus Mistry to the helm of the Tata
Group reinforces the clout it wields in some of India’s biggest
conglomerates.

Mistry’s selection as chairman-designate of India’s biggest
corporate house keeps the group close to the founding Tata
family as he is a member through the marriage of his sister. The
choice also keeps the business in the hands of the close-knit
community which is as old as the city itself.

Nov 25, 2011

Retailer shares up after FDI move, but concerns emerge

MUMBAI (Reuters) – Shares in Indian retailers jumped on Friday after the government opened up the $450 billion supermarket sector to global giants, but concerns emerged that caveats aimed at appeasing political opposition could hinder an expected flurry of investments.

The government on Thursday approved 51 percent foreign direct investment in the supermarket sector, paving the entry of firms such as Wal-Mart, Tesco and Carrefour into one of the world’s largest untapped markets.

Nov 25, 2011

India retailer shares up after FDI move, but concerns emerge

MUMBAI, Nov 25 (Reuters) – Shares in Indian retailers
jumped on Friday after the government opened up the $450 billion
supermarket sector to global giants, but concerns emerged that
caveats aimed at appeasing political opposition could hinder an
expected flurry of investments.

The government on Thursday approved 51 percent foreign
direct investment in the supermarket sector, paving the entry of
firms such as Wal-Mart, Tesco and Carrefour
into one of the world’s largest untapped markets.