Walmart eyes tieups with Flipkart Snapdeal others Report

first_imgUS-based multinational retail giant Walmart is reportedly looking to partner with Indian e-commerce majors, including Flipkart, Snapdeal, ShopClues, Grofers and Bigbasket, to tap the vast potential of the online retailing market in India.Amzon, Walmart’s rival in online retailing, is already giving tough competition to Indian players, and has recently emerged as the most-visited e-commerce site in India, surpassing Flipkart and Snapdeal.Walmart is said to be “actively considering” the idea of foraying into online retailing in the country after hesitating for a while.”Several businesses in the e-commerce space have approached us to become our members, and we are processing those requests,” Rajneesh Kumar, vice-president and head, corporate affairs, Walmart India, told Business Standard.So far, no foreign multi-brand retailer has a tie-up with online retailers in India.Walmart’s operations have so far been limited to business-to-business (B2B) segment in India, selling products to businesses, organisations and educational institutes. It had formed a joint venture with Sunil Bharti-led Bharti group in 2007 but decided to go alone in 2013 by discontinuing in the venture.With the foreign direct investment (FDI) in multi-brand retail being capped at 51%, foreign retailers like Walmart should have a local partner to launch their operations in India.In what could be a major setback for domestic e-commerce firms, the Department of Industrial Policy and Promotion (DIPP), the agency responsible for formulating policy on foreign fund inflows, has told the Delhi High Court the marketplace model followed by online retailers is “not recognised” under the country’s FDI policy.The DIPP’s stand assumes importance in the wake of growing fund-raising activities by India’s biggest online retailers, such as Amazon India, Flipkart and Snapdeal. These firms operate as marketplaces, connecting buyers and sellers, and currently foreign investment is prohibited in such type of businesses.last_img read more

Bharti Airtel Q4 beats estimates as more customers pay for mobile internet

first_imgBharti Airtel Ltd, India’s largest telecoms network operator, reported a better than expected 2.8 percent rise in its fourth-quarter profits on Wednesday, boosted by a 15 percent rise in subscribers in its home market for mobile broadband services to 35.5 million.Consolidated net profit rose to 12.90 billion rupees ($194.23 million) in the quarter ended March 31, from 12.55 billion rupees a year earlier, the company said.Analysts on average had expected a net profit of 12.21 billion rupees, according to a Reuters poll.Bharti Airtel, headed by Indian billionaire Sunil Mittal, said total revenues rose 8.4 percent to 249.6 billion rupees.Separately the company also approved a share buyback of 14.34 billion rupees.India has over 1 billion mobile phone users, making it the second biggest market behind China, and the market for mobile internet services is growing fast as only a third of phone users already have smart phones.Over 100 million smart phones were sold in India last year and that number is expected to grow by over 25 percent this year while network operators are investing heavily in providing 4G broadband.In the last two months alone Bharti has spent about $1.2 billion on buying radio spectrum to expand its 4G service.last_img read more

Texas Sen Carlos Uresti Indicted On Fraud Bribery Charges Update

first_img Share Robin Jerstad for The Texas TribuneState Senator Carlos Uresti, D-San Antonio, at a Texas Tribune legislative preview on Dec. 2, 2016. Uresti’s San Antonio office was raided by the FBI on Feb. 16, 2017.Editor’s note: This story has been updated throughout.State Sen. Carlos Uresti, accused of misleading a former client who invested in a company in which Uresti has a financial stake, was indicted Tuesday by a federal grand jury on 11 charges over his involvement in the alleged investment Ponzi scheme, and he also faces a separate indictment alleging bribery surrounding a government contract.In the first indictment, the federal grand jury charged Uresti, a San Antonio Democrat, with eleven counts of wrongdoing over his complicated saga involving a now-bankrupt company. The company, FourWinds Logistics, purported to sell sand used in hydraulic fracturing, a process that extracts oil and gas from shale rock, but has been accused of misleading investors and grossly misspending funds. The grand jury indicted Uresti on one count of conspiracy to commit wire fraud; one count of conspiracy to commit money laundering; five substantive counts of wire fraud; two counts of securities fraud; one count of engaging in monetary transactions with property derived from specified unlawful activity; and one count of being an unregistered securities broker.A separate indictment centered on a contract to provide medical services to a correctional facility in West Texas. That indictment alleges that a colleague of Uresti’s, Vernon C. Farthing III, paid Uresti $10,000 per month as a marketing consultant and that half of the money was given to an unspecified Reeves County official to win over his vote to award the contract to Farthing’s company. It was the culmination of a 10-year scheme to commit bribery and money laundering, prosecutors argued.In a prepared statement, Uresti said he would plea not guilty to the charges.“I am hard at work representing District 19 in the 85th Legislative Session,” he said. “The charges against me are groundless and I look forward to proving my innocence in a court of law at the appropriate time.”It was the frack sand case that received the most scrutiny in recent months.A lengthy investigation published by the Express-News in August first detailed the involvement of Uresti, a personal injury attorney, in the company and fraud allegations it faces.FourWinds’ supposed intent was to buy sand and sell it at a markup to oil and gas companies, but investors have accused the company’s leadership of misrepresenting its financial health and spending their money on frivolous, personal expenses. It now faces millions of dollars in claims from investors and other companies.Uresti’s alleged wrongdoings trace back to one of his previous legal clients. Uresti represented Denise Cantu in a wrongful-death case after Cantu’s 13-year-old daughter, four-year-old son and two friends were killed in 2010, when a tire on her SUV blew out, causing the vehicle to roll over. Cantu received $900,000 in a settlement, but she said she lost most of the money after she invested it in the now-bankrupt FourWinds firm at Uresti’s suggestion.Cantu has said she was not initially aware that Uresti would get a piece of her investment, though Uresti has suggested otherwise.With allegations of serious financial mismanagement detailed in bankruptcy court, the FBI last year opened an investigation. Federal agents raided Uresti’s law offices in February in connection to the case.Documents in the company’s bankruptcy proceedings list Uresti as owner of a 1 percent stake in FourWinds. Also, the company granted Uresti a $40,000 loan in June of 2014, and hired him to perform legal services, the documents show.At least four former FourWinds employees have now been indicted for their involvement in the company: chief executive Stanley Bates; Eric Nelson, the former marketing director; Shannon Smith, who held a 48 percent stake in the company; and Laura Jacobs, who worked as its comptroller. Gary Cain, a company consultant, was also indicted.Three months after the Express-News story, Uresti coasted to re-election, winning his San Antonio seat with 56 percent of the vote against Republican and Libertarian challengers. Uresti is among the Legislature’s most powerful Democrats. He is vice chair of the Health and Human Services committee and sits on three other high-profile committees: Finance, Education and Veteran Affairs & Border Security.Uresti’s indictments put Texas Democrats in an awkward position. The fraud charges bear similarity to another high-profile case: that of Texas Attorney General Ken Paxton, a Republican. Paxton is similarly charged with misleading investors and failing to register as a securities broker.A spokesman for the Texas Democratic Party did not immediately respond to a request for comment. But Texas GOP chairman Tom Mechler was quick to condemn Uresti in a prepared statement: “As I’ve said before, there is an unprecedented amount of corruption among Texas Democrats, and Senator Uresti’s indictment only further proves that they are clearly incapable of being entrusted with governing in the state of Texas.”Uresti could face up to 20 years in federal prison if convicted of the fraud-related charge, and the money laundering charge carries prison time of up to 10 years. If convicted of being an unregistered securities broker, Uresti could spend up to 20 years in federal prison.In the Reeves County case, Uresti could face up to five years in federal prison if convicted of conspiracy to commit bribery, and up to 20 years if convicted of the money laundering charge.Uresti is expected to appear before U.S. Magistrate Judge Henry Bemporad at 11 a.m. tomorrow in San Antonio.Julián Aguilar contributed to this report.Read related Tribune coverage:Three members of the Texas Legislature, all Democrats, easily won their re-election bids in November despite a cloud of ethics questions hovering over their campaigns.More than two dozen former elected officials convicted of felonies may be receiving taxpayer-funded retirement pay. But state law keeps the details secret.This article originally appeared in The Texas Tribune at https://www.texastribune.org/2017/05/16/texas-sen-carlos-uresti-indicted-fraud-charges/.Texas Tribune mission statementThe Texas Tribune is a nonprofit, nonpartisan media organization that informs Texans — and engages with them — about public policy, politics, government and statewide issues.last_img read more

CBI questions Mathew Samuel again

first_imgKolkata: The Central Bureau of Investigation (CBI) questioned the former CEO of Narada News Mathew Samuel once again on Friday, sources said. Samuel went to the office of CBI in Kolkata in connection with the Narada sting operation case. Sources said that the CBI officers have questioned Mathew in connection with the original video footages of the sting operation. It has been learnt that the investigating officers have not got a satisfactory answer in this connection.Sources said that the matter related to the Muchipara case in which a former Central minister from Bihar had received a call demanding extortion money of Rs 5 crore and was threatened with some video footages. Storage devices containing video footages were recovered from a hotel room at Muchipara.last_img read more

Kali Linux 20191 released with support for Metasploit 50

first_imgYesterday, Kali Linux’s first release for 2019 was announced. Kali Linux 2019.1 comes with a variety of changes and new features including, support for Metasploit version 5.0, kernel up to version 4.19.13, ARM updates and numerous bug fixes. Users with a Kali installation can upgrade using: root@kali:~# apt update && apt -y full-upgrade You can also download new Kali Linux ISOs directly from the official website or from the Torrent network. What’s new in Kali Linux 2019.1? Support for Metasploit 5.0 The new version of Kali Linux now supports Metasploit version 5.0, which was released last month. Metasploit 5.0 introduces multiple new features including Metasploit’s new database and automation APIs, evasion modules and libraries, expanded language support, improved performance, and more. Kali Linux 2019.1 also includes updated packages for theHarvester, DBeaver, and more. theHarvester helps Penetration testers in the early stages of the penetration test to gather emails, subdomains, hosts, employee names, open ports and banners from different public sources. DBeaver is an SQL client and a database administration tool. Updates to ARM The 2019.1 Kali release for ARM include: The operating system has an upgraded kernel (v4.19.13) that supports the use of both Banana Pi and Banana Pro single board computers. Veyron has also been moved to a 4.19 kernel The Offensive Security virtual machine and ARM images have also been updated to 2019.1 Raspberry Pi images have been simplified. Separate Raspberry Pi images are no longer there for users with TFT LCDs because Kali 2019.1 now comes with re4son’s kalipi-tft-config script on all of them.  For setting up a board with a TFT, users can run ‘kalipi-tft-config’ and follow the prompts. You can go through the changelog to know detailed bug fixes. Read Next Kali Linux 2018 for testing and maintaining Windows security – Wolf Halton and Bo Weaver [Interview] Implementing Web application vulnerability scanners with Kali Linux [Tutorial] Kali Linux 2018.2 releasedlast_img read more

Six new AWS trips from Trafalgar CostSaver

first_img TORONTO — Trafalgar and Costsaver’s Autumn, Winter and Spring (AWS) 2019/20 program offers 41 itineraries across 27 countries.The brands connect clients with Europe’s best experiences, people and destinations with year-round and winter specific itineraries.Along with a selection of tried and tested favourites for 2019/2020, Trafalgar and Costsaver have also announced six brand new trips in line with clients’ demand for more Europe options year-round.“We’ve crafted our trips with the best travel experiences in mind, no matter the season,” says Michael Unrath, Head of Product for Trafalgar Europe. “Smaller towns and communities can often struggle during the quiet seasons when the summer crowds die down for the year. We’re proud to be able to take our groups to many of these destinations, offer experiences that bring Europe to life and connect with the amazing locals and communities that make these destinations so special, at any given time of year,” he said.More news:  Sunwing ready to launch Mazatlán-Quebec City direct this winterNew trips include the 7-day Best of Scotland to uncover Scottish greats in one of Trafalgar’s most popular countries, taking in Glasgow, the Highlands and Edinburgh. Client favourites like a ‘Be My Guest’ experience at the 15th century home of the Wood Family on Lake Loch Ard to private whisky tastings, a day trip to the Isle of Skye and sightseeing are all on offer, packed with plenty of fun and classic Scottish locals.With the rise in the popularity of Eastern Europe experiences, Trafalgar’s new 8-days Balkan Escape and 6-days Lucerne Explorer will fulfill clients needs in the coming season. Using Lucerne as its base, the Lucerne Explorer offers the best of all things Swiss, including chocolate and cheese workshops, mountain vistas, lake views, grand hotels and plenty of history in the cozy colder months for an all-encompassing travel experience in under.For those looking for some winter sun, there’s the new 10-day Best of Morocco, with colourful bazaars, a ‘Be My Guest’ experience with a local family in their private Riad, an overnight stay in the middle of the beautiful Atlas Mountains, plus visits to mosques and medinas.More news:  ‘Turn around year’ for TPI brings double-digit growthThese new trips are rounded off with a new 10-day Trafalgar 3 Continents Cruise covering Cyprus, Greece, Turkey, Israel and Egypt.Lastly, on Costsaver’s new 10-day Italian Scene adventure clients will explore the idyllic lakes, Renaissance cities, vibrant countryside and memorial sites and landmarks in Venice, Florence and Rome. Trip highlights include a ‘Local Specialist’ tour to St. Peter’s Basilica, as well as stops in feisty Naples, Assisi and the cliffside village of Sorrento.Reiterating its #AgentsFirst philosophy, the AWS programs feature both brands together in one handy ‘upside down’ brochure. Share Thursday, May 9, 2019 Tags: AWS, CostSaver, New Tours, Trafalgar Six new AWS trips from Trafalgar & CostSavercenter_img Posted by Travelweek Group << Previous PostNext Post >>last_img read more