Top headlines: MSCI to review Adani Group securities, Maaza to go global

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MSCI receives feedback; to do free float review of Adani Group securities

Index provider MSCI said on Thursday it was reviewing the free float status of Adani Group securities after market participants raised concerns about the eligibility of companies in the Indian conglomerate for some of its indexes. Read more
 

Competition Bill may propose levying penalty on firms' global turnover

The government will likely tweak the Competition Amendment Bill 2022 to propose that penalties on companies be calculated as a percentage of their global turnover instead of the current practice of levying it on their turnover within the country, it is learnt. Read more

GST Council meet: Tax on online gaming activities unlikely to be discussed
 

The Goods and Services Tax (GST) Council is unlikely to take up the group of ministers (GoM) report on taxing online gaming at its upcoming meeting as the matter requires extensive deliberations, a senior finance ministry official told Business Standard. Read more

Thums Up, Maaza to go global as Coca Cola bets on 'Indian' flavours

Coca Cola may soon take two of its India-made brands, Thums Up and Maaza, to the global markets, a report by the Economic Times (ET) said, quoting the company's president for international development, Henrique Braun. Thums Up recently crossed $1 billion in sales in India, and Maaza is expected to achieve the milestone by 2024. Read more

Adani plans to prepay $500 million loan due in March to banking group

The Adani Group plans to prepay a $500 million loan due next month to a group of banks as the Indian conglomerate looks to bolster its finances following a short seller attack.

Barclays Plc, Standard Chartered Plc and Deutsche Bank AG are among banks that lent Adani $4.5 billion to finance the purchase of Holcim Ltd. cement assets last year. A portion of that loan is due March 9. Read more