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☆ India wants to host the Olympic Games in 2036. Is the country ready?
▼ + stars: | 2023-12-28 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +4 min

Labourers work beside the Olympic signage at the entrance of a venue ahead of the upcoming 141st International Olympic Committee (IOC) session in Mumbai on OCtober 11, 2023. In October, Prime Minister Narendra Modi announced that India plans to host the 2036 Games, reportedly saying it's the country's "age-old dream." Indonesia, Mexico, Turkey and Poland have also expressed their interest to host the Games in 2036. Reliance Industries, the country's largest private sector company, entered into a partnership with the Indian Olympic Association (IOA) last year. In 2011, after the games concluded, the chairman of the of the Commonwealth Games organizing committee, Suresh Kalmadi, was arrested for corruption and financial malpractice.

Persons: Indranil MUKHERJEE, INDRANIL MUKHERJEE, Indranil Mukherjee, Narendra Modi, Nita Mukesh Ambani, CNBC's Tanvir Gill, Ambani, Thomas Bach, Suresh Kalmadi, David Carter, Carter Organizations: 141st International Olympic Committee, AFP, Getty, Afp, India, Business, Reliance Foundation, Reliance Industries, Indian Olympic Association, Olympic Games, CNBC TV18, Olympic, Commonwealth Games, Guardian, BBC, Cricket, University of Southern, CNBC Locations: Mumbai, India, Indonesia, Mexico, Turkey, Poland, Delhi, University of Southern California

☆ Indian foodtechs Zomato, Swiggy get notice for $90 mln in unpaid taxes -CNBC TV18
▼ + stars: | 2023-11-22 | by ( ) www.reuters.com time to read: +1 min

The logo of Indian food delivery company Zomato is seen on its app on a mobile phone displayed in front of its company website in this illustration picture taken July 14, 2021. REUTERS/Florence Lo/Illustration/File Photo Acquire Licensing RightsBENGALURU, Nov 22 (Reuters) - India's top organization for indirect taxes has issued notices on unpaid taxes worth about 7.5 billion rupees ($90 million) to food delivery companies Zomato (ZOMT.NS) and Swiggy, CNBC-TV18 reported on Wednesday, citing sources. The Directorate General of GST Intelligence (DGGI) has sent a tax demand of more than 4 billion rupees to Zomato and of around 3.5 billion rupees to Swiggy, the report said. Zomato declined to comment, while Swiggy and the DGGI did not immediately respond to Reuters' requests for comment. ($1 = 83.2440 Indian rupees)Reporting by Varun Vyas in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

Persons: Florence Lo, Zomato, Varun Vyas, Savio D'Souza Organizations: REUTERS, Rights, CNBC, TV18, GST Intelligence, Thomson Locations: Bengaluru

[1/2] A view shows packets of snacks on the shelves inside a Haldiram's restaurant in Mumbai, India, September 6, 2023. Tata Consumer shares surged and closed nearly 4% higher in Mumbai trade after Reuters reported news of the talks. The potential acquisition represents an exciting opportunity for Tata, the person said, adding: "Tata (Consumer) is seen as a tea company. A spokesperson for Tata Consumer Products said it "does not comment on market speculation". The $10 billion valuation sought by Haldiram's for the deal translates to 6.6 times its annual revenue of $1.5 billion, sources said.

Persons: Sriram, Tata, Mukesh Ambani's, Tetley, Haldiram's, Krishan Kumar Chutani, Bain, Ankur Bisen, Manohar Lal Agrawal, Aditya Kalra, Chris Thomas, Edwina Gibbs, Alexandra Hudson Organizations: REUTERS, India Tata, Tata, Pepsi, Bain Capital, Tata Consumer Products, Starbucks, Tata Consumer, Reuters, Haldiram's, Euromonitor International, Tata Group, CNBC TV18, Bikaji Foods, Alexandra Hudson Our, Thomson Locations: Mumbai, India, MUMBAI, DELHI, Singapore, United States, Bikaji

☆ Burger King in India says tomatoes 'need a vacation' too — they have been removed from the menu due to inflation
▼ + stars: | 2023-08-17 | by ( Amanda Goh | ) www.businessinsider.com time to read: +3 min

Burger King in India has taken tomatoes off the menu due to food inflation, per Reuters. Tomatoes prices have shot up drastically due to India's food inflation, which is at its highest since January 2020. "Even tomatoes need a vacation... we are unable to add tomatoes to our food," signs posted outside these two outlets said, per Reuters. Following McDonald's, Subway in India also dropped tomatoes from its menu that same month, the Times of India reported. Like McDonald's, notices outside a few Subway outlets in New Delhi attributed the unavailability of tomatoes due to quality issues.

Persons: Burger, Burger King Organizations: Service, Reuters, CNBC TV18, India's Department of Consumer Affairs, The, Cooperative Consumer's Federation of, India, New York Times Locations: India, Wall, Silicon, McDonald's, Subway, New Delhi, of India, Cooperative Consumer's Federation of India

☆ Ukraine wants tighter ties with India, visit by Modi
▼ + stars: | 2023-04-10 | by ( ) www.reuters.com time to read: +2 min

India holds the rotating presidency of the Group of 20 this year and hosts a leaders summit in September. Dzhaparova, who is on a four-day visit to New Delhi, told the broadcaster: "We believe India should be engaged and involved in the Ukraine issue to a great extent". India has sought a diplomatic solution to the conflict in Ukraine, while Modi told Russian President Vladimir Putin in September that now is "not an era of war". India has also boosted its purchases of Russian oil, taking advantage of the deep discounts following a European ban on Russian oil imports. Dzhaparova will meet India's deputy national security adviser and a junior foreign minister during her visit and address a world affairs think tank.

HONG KONG/MUMBAI, Jan 30 (Reuters Breakingviews) - Gautam Adani’s financing options are narrowing fast. That leaves it dependent on a safety net provided by Indian banks. Those concerns exploded after Hindenburg Research last week declared the Indian group was making extensive use of tax havens and “pulling the largest con in corporate history” – allegations Adani dismissed as “misinformation” and “stale, baseless and discredited”. Lending more to the group would protect the capital that banks already have at risk in projects under construction. Shares of Gautam Adani’s listed companies have lost a combined $48 billion in market capitalisation since Jan. 25.

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