INDIA: The Indian government has given a strong signal it may open up its retail sector to foreign players. A discussion paper from the Department of Industrial Policy and Promotion will test the appetite for reform, which could bring in retail giants such as Walmart and Carrefour.
Currently foreign direct investment is banned in retail but the paper has suggested multi-brand retail outlets could provide more efficient ways of helping farmers and consumers.
ASIA: Carrefour is reportedly planning to sell its operations in Malaysia, Thailand and Singapore to focus on countries where it is market leader. The group has already shut operations in Russia and southern Italy and recently finalised an agreement with Belgian unions to restructure loss-making operations.
Carrefour has approached potential buyers and may ask for bids by early September. Tesco, Japan's Aeon, Hong Kong's Dairy Farm International Holdings and Thailand's Big C Supercenter have all been touted as possible bidders.
VENEZUELA: President Hugo Chavez has appointed a new president of state-run food company PDVAL amid a scandal over the discovery of 20,000 tonnes of decomposing food in government warehouses. Carlos Osorio will assume control.
The former president was arrested along with two officials for their alleged responsibility. Earlier this year Chavez declared "economic war" on private retailers, blaming them for inflation and food shortages.
AUSTRALIA: Australia's biggest retailer, Woolworths, and Myer Holdings, the country's largest department store, are planning to follow Wesfarmers into home, car and travel insurance in a move that will put pressure on rival retail giants.
ROMANIA: Kraft Foods has sold Cadbury's Kandia-Excelent chocolate, soft cake and sugar confectionery business in Romania to investment fund Oryxa Capital. The sale includes brands Rom, Magura, Kandia, Laura, Sugus and Silvana and a factory in Bucharest. Last week Kraft sold Cadbury's Poland-based E.Wedel brand and facility to Lotte Group.
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