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New Delhi, Jan 13: Walmart, the world’s largest retailer, has fired around 50 of its India executives as part of its restructuring in the country, three sources with direct knowledge said.

The move underscores the struggles Walmart has faced in expanding its wholesale business in India. The Bentonville, Arkansas based company currently operates 28 wholesale stores where it sells goods to small shopkeepers, and not to retail consumers.

The firings mostly affected executives in the company’s real estate division because the growth in the wholesale model has not been that robust, two of the sources said.

“It’s happening because focus is shifting to e-commerce rather than physical (stores),” said one source, who declined to be identified as the decision is not public.

Walmart did not respond to a request for comment.

Walmart has placed bold bets on India’s e-commerce sector. In 2018, it paid $16 billion to acquire a majority stake in India’s online marketplace Flipkart, in its biggest global acquisition.

The second source added that while Walmart could slow down the pace of opening new wholesale stores, the focus will increasingly be on boosting sales through business-to-business and retail e-commerce.

Some of the executives were sacked last week and more could be let go on Monday, two sources said.

In a statement to India’s Economic Times newspaper, which first reported the news, Walmart said it was always looking for ways to operate more effectively and that “this requires us to review our corporate structure to ensure that we are organized in the right way to best meet the needs of our members.”

Walmart has around 600 staff in its India head office out of a total of around 5,300 nationally, one of the sources said.

Jammu, Jan 1: As many as 160 terrorists were killed in Jammu and Kashmir this year, while 250 terrorists, including 102 of Pakistani origin, were active in the Valley, Director General of Police (DGP) Dilbag Singh said on Tuesday, noting that terror incidents and the number of local youths turning towards terrorism have decreased.

"250 terrorists have been active in Jammu and Kashmir. There is a decrease in number of active terrorists as compared to last year," Mr Singh said at the annual press conference at police headquarters in Jammu.

The DGP said that there is 30 per cent fall in terrorist incidents, less civilian killings and 36 per cent decrease in law and order incidents as compared to 2018.

"218 such (local) youths joined militant outfits in 2018 but only 139 joined in 2019," he said. Out of these new recruits only 89 have survived.

"The rest have been eliminated as their shelf life is between 24 hours to 2-3 months after joining militancy. There are hardly few old terrorists surviving, which include Jehangir Saroori and Riyaz Nayikoo", he said.

There have been only 481 law and order incidents this year as compared to 625 last year, he said.

There were 80 per cent successful anti-terror operations in which 160 terrorists, including foreigners, have been killed during the year.

Mr Singh said 102 terrorists have been arrested and 10 terrorists surrendered during the year.

He said that 102 Pakistan origin terrorists are still operating in Kashmir.

"Eleven valiant police personnel from Jammu and Kashmir besides 72 from other other security forces have been martyred," he said.

There was no collateral damage during anti-terror operation as people fully cooperated. "There was zero law and order problem this year (during anti terror operations)," he added.

The DGP said that "there has been a high degree of incidents of infiltration attempts from across the border this year and also ceasefire violations. But security forces have successfully foiled these attempted as 130 infiltrators have entered in 2019 as compared to 143 last year".

He said Jammu and Kashmir Police has set an example by handling the law and order situation in the most "exemplary" way following the abrogation of Article 370 provisions.

It was the biggest challenge faced by the force in 2019, but "we handled the most critical phase in the best way" and there was no civilian casualty during the period, he said.

Dismissing claims of minors being arrested by police in Kashmir, he said that it is being used as propaganda by some people and asserted that the J-K police has acted within the limits of law.

"We are open to scrutiny. The issue reached the Supreme Court which referred it to Jammu and Kashmir high court. The matter was inquired by the HC committee. The SC said that there is no misuse of law by law enforcement agency. J-K police has acted within the limits of law," he said.

Replying to queries on restoration of internet, the DGP said it is under consideration. "I think J-K is moving towards such a situation (on law and order front). Very soon you will hear positive announcement," Mr Singh said.

He said that though some people will try to misuse internet, "in the past, we took care of them and we will take care of such people in the future too".

Internet services in all government-run hospitals and SMS to all mobile phones will be restored from December 31 midnight in the Kashmir Valley, Jammu and Kashmir official spokesman Rohit Kansal said on Tuesday.

On December 10, some short message service (SMS) were enabled on mobile phones in order to facilitate students, scholarship applicants, traders and others. It has now been decided to fully restore the service throughout Kashmir from midnight of December 31, Kansal said.

Mobile Internet services were restored in Kargil district of Ladakh on Friday after remaining suspended for 145 days in the wake of the Centre abrogating provisions of Article 370 of the Constitution, officials said.

Internet services were suspended on August 4, a day before the Centre announced abrogation of Article 370 and division of the state into the union territories of Jammu and Kashmir, and Ladakh.

New Delhi, Jul 19: Indian equities will be driven by a host of factors like corporate earnings, coronavirus cases trend and geo-political developments this week, according to analysts.

Market participants will also keenly watch the progress of monsoon, with experts saying that the farm sector revival will play a key role in lifting the coronavirus-hit economy.

"With no major event, the ongoing earnings season and global cues will continue to dictate the market trend. Besides, the progress of monsoon will also be closely watched," Ajit Mishra, VP - Research, Religare Broking, said.

Globally, the rising coronavirus infections and geo-political tensions have created uncertainty on the economic recovery front.

With India's COVID-19 cases fast approaching the 11 lakh mark, the third-highest behind the US and Brazil, and the death toll nearing 27,000, participants are expected to tread cautiously going forward.

At global level, confirmed COVID-19 cases have crossed 1.4 crore and deaths totalled about 6 lakh.

Markets globally will closely follow developments on the trade and political level between the US and China, according to analysts.

"We would continue witnessing stock-specific action as the earnings season unfold. Though the near-term momentum looks positive, we would advise traders to be cautious, given flaring US-China trade relations, persistent rise in virus cases and implementation of fresh lockdowns in parts of the country," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.

HDFC Bank will remain in focus on Monday after having announced its June quarter earnings on Saturday.

The lender reported 19.6 per cent rise in its standalone net profit at Rs 6,658.62 crore for April-June 2020; while its income rose to Rs 34,453.28 crore during the quarter.

Other major companies to announce their quarterly results this week are Axis Bank, Bajaj Finance, Hindustan Unilever Limited, Bajaj Auto and ITC.

"Going ahead market participants will closely track the development related to covid vaccine, the rising infection of coronavirus, development on economic activities, corporate earnings and US-China relationship," said Sumeet Bagadia, Executive Director, Choice Broking.

On weekly basis, the Sensex gathered 425.81 points or 1.16 per cent, and the Nifty gained 133.65 points or 1.24 per cent.