The Troubled Rupee
The rupee slumped to a record low of 59.9850 on Thursday as India's record high current account deficit is exacerbating its vulnerability in an emerging market rout, although interventions by the Reserve Bank of India (RBI) prevented further falls. Full Article
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Wal-Mart expects to open first India store within 18 months: report
REUTERS - Wal-Mart Stores Inc (WMT.N) is looking to open its first retail outlets in India within 12 to 18 months, Scott Price, president and CEO for Asia, said in an interview with the Wall Street Journal.
The move comes after the UPA government last week agreed to allow megastore retailers to enter the country through joint ventures.
Wal-Mart, the world's biggest retailer, has not yet decided where or how many stores it would like to have in India, Price told the newspaper.
Price added that the company expects to continue its current partnership with India's Bharti Enterprises in a chain of 17 cash-and-carry stores, but it is not in discussions with any other companies for a potential retail partnership.
(Reporting by Sakthi Prasad in Bangalore; Editing by David Goodman)
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