Global retail giant Walmart has approached fair trade regulator CCI for approval of its proposed acquisition of a majority stake in e-commerce major Flipkart, saying the deal doesn’t raise any competition concerns. Stating that the proposed acquisition would be done through its subsidiary Wal-Mart International Holdings, Walmart has told the regulator that Flipkart is a Singapore-based investment holding firm, which along with its direct and indirect subsidiaries, both in India and elsewhere, is...

Chinese smartphone maker Xiaomi says it will fully comply with the Delhi high Court order asking it to stop sales of its smatphones in the country, Manu Jain, head of the company's India operations, told ET. Xiaomi, the third largest smartphone maker in the world, had earlier suspended the upcoming flash sale of its Red Mi 1S and Red Mi Note smartphones. "We have not been served the notice till now, but we know about the issue. If the court has asked us not to do it, we won't do it," Jain said...