The Union Cabinet approved the appointment of a one-man Committee into the media reports concerning Wal-Mart.
The terms of reference of the Committee are as follows:-
(i) To inquire into recent media reports on disclosures of Wal-mart before the US Senate regarding their lobbying activities and details.
(ii) Whether Wal-Mart undertook any activities in India in contravention of any Indian law.
(iii) Any other matter relevant or incidental to the above.
The Committee will submit its report within three months.
India Infoline Research Team / 08:49, Aug 21, 2014
The outlook is a flat open. Global indices are up. The minutes from the Federal Reserve's July meeting indicate that the Fed is in no hurry to raise interest rates. The Dow added 0.35% while S&P was up 0.25%. Nasdaq ended marginally lower. Asian indices are mixed with Nikkei up almost a percent while Hong Kong's Hang Seng index is lower. South Korea's Kospi index and China's Shanghai index are also in the red.