No pre-poll alliance in JK, BJP to contest all 87 seats

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.

New Delhi, Jun 8: Union Human Resource Development Minister Ramesh Pokhriyal Nishank has said that CBSE board results can be declared by August 15. The results of both class 10 and 12 will be declared at an interval of just a few days.

However, the decision to open schools will be taken after August keeping in mind the current COVID-19 situation. At present, the Ministry of Human Resource Development has not set any date for reopening schools.

Nishank said during a discussion "We hope that the results of both 10th and 12th class will be declared by August 15. These include the results of previous exams and the results of examinations in July."

On the issue of reopening of schools, Nishank said "after August the process of opening schools will be started."

A final decision in this regard will be taken only after assessing the prevailing conditions. According to the HRD ministry, after August, new sessions will also start in universities.

Meanwhile, the Arvind Kejriwal government in Delhi has also written to the HRD ministry on the subject of reopening schools. Delhi Education Minister Manish Sisodia said in the letter, "Delhi Chief Minister Arvind Kejriwal said some time ago that we have to learn to live with coronavirus. So it would be better to open schools with proper safety measures."

Sisodia said that first of all, we have to assure every child that they are important to us. Everyone has equal rights over the physical and intellectual environment of his school. Education cannot progress beyond online classes only. It would be impossible to pursue education only by calling older children to school and keeping younger children at home.

Several private schools have also suggested measures to the HRD ministry to open schools and safety in schools during this period. However, the ministry is not in a hurry to reopen schools at present. According to senior officials of the ministry, at present, preparations are being made to conduct the remaining board exams of class 10 and 12 between July 1 and 15.

After the examinations, the first priority is to declare the results. Only then can the process of reopening school colleges begin.

New Delhi, Jun 29: Fuel prices rose on Monday again after a days pause with oil marketing companies increasing the pump price of petrol by 5 paisa and diesel by 13 paisa per litre in Delhi.

In the national capital, petrol price on Monday stood at Rs 80.43 per litre while that of diesel at Rs 80.53 a litre.

With this increase, fuel prices have moved up on 22 of the last 23 days (with no rise on Sunday). Petrol prices, however, were unchanged for an additional day in between after the daily revision based on dynamic pricing was reinstated by OMCs.

Since the daily price revision resumed on June 7, petrol price has increased Rs 9.17 and diesel rose by Rs 11.14 in the national capital. In the other cities the magnitude of increase was similar.

During the past 23 days, the quantum of price hike gradually declined from around 60 paise raise for a few days, immediately post the resumption of daily price revision, to less than 20 paise during the past few days and now even less than 10 paisa per litre.

In a historic development, the price of diesel surged above that of petrol in the national capital during this period. It continues to remain higher even though on Saturday the quantum of petrol price hike was higher than that of diesel.

Officials in oil marketing companies said that it is hard to predict which of the two fuels will be priced higher in the Capital as the gap between the two is almost negligible. But petrol prices have shown more volatility in international markets that may take it ahead once again in coming days.

Apart from Delhi, the retail prices of petrol and diesel have followed the traditional path in other metros with petrol being priced at a premium of between Rs 5 and 8 per litre. The difference between the auto fuel prices in Delhi and other metros is because of the taxation structure.

While both petrol and diesel are at similar levels of taxes (state and centre) in Delhi, it is higher for petrol in many other Indian cities.

Globally diesel is priced a tad higher than petrol. In India too, the base price of diesel is slightly higher than petrol but taxation at central and state levels changed the complexion of retail prices.

If the price of petroleum products and crude hold their positions in global markets, then petrol and diesel prices rise may stop for a longer period and we may even see marginal fall in prices.

Fuel prices have been increasing since June 7 when oil companies began the daily price revision mechanism after a hiatus of 82 days during the lockdown.