News in Numbers: India accounts for 23% of total global child deaths due to tuberculosis3 min read . Updated: 22 Aug 2017, 03:49 PM IST
In other news, the shares of 200 companies will be compulsorily delisted from the Bombay Stock Exchange
What is it? The number of McDonald’s restaurants that are in danger of shutting down within a fortnight, after the US fast food major terminated franchise agreement with one of its two Indian partners citing non-payment of royalties.
Why is it important? 6,500 people employed directly by Connaught Plaza Restaurants Ltd (CPRL), the company which runs McDonald’s in northern and eastern parts of India, are in danger of losing their jobs. The market size of quick service restaurant is likely to grow by 48% to Rs246.7 billion by 2017, as compared to Rs91.3 billion last year.
Tell me more: If termination notice is not withdrawn, Vikram Bakshi, the Indian partner with 50% stake in CPRL, will not get any return from building McDonald’s in India for more than 22 years. In contrast, Westlife Development, which runs the McDonald’s outlets in western and southern parts of India, is valued at Rs4,032 crore.
What is it? The amount for which Russian oil major Rosneft and its partners closed their purchase of Indian refiner Essar Oil on Monday.
Why is it important? This is the biggest foreign acquisition ever in India and Russia’s single-largest investment made anywhere in the world, also marking Rosneft’s first foray in Asia’s refining sector. For Essar, it would help pare the group’s debts by $11 billion, of which $6 billion would be transferred to the new entity controlled by Rosneft, while the rest would be paid off. Rosneft and its partners will pay off $600 million of the debt to some Indian lenders in addition to $2.4 billion owed to Iran for past oil purchases.
Tell me more: Essar group will not use the sale receipts to pay off debts in Essar Steel, which is one of the 12 companies identified by the central bank for early bankruptcy.
What is it? The number of children aged 14 years and under that have been estimated to have died from tuberculosis in 2015 in India, according to a study.
Why is it important? India has the highest number of child deaths due to TB (about 23% of total global child deaths due to TB), according to the study that estimated such deaths in 217 countries. The disease is preventable and treatable. Of the total 239,000 children under 14 years and under who died from TB, nearly 80% are below five years and almost all (96%) occurred in children not on treatment.
Tell me more: Overall (including adults), India has the highest TB burden in the world as well. It accounts for over a fourth of new TB cases in the world, according to the World Health Organization Global TB Report 2016.
What is it? The approximate number of people killed due to floods and landslides in the last few days in Nepal, Bangladesh and India.
Why is it important? This is the worst floods to hit Nepal in 15 years, which has affected about a fifth of the landlocked nation’s population. In Bangladesh, over a third of the country was submerged, the worst flooding in a decade. In India, states including Bihar, Assam, Uttar Pradesh, Manipur, Arunachal Pradesh and Nagaland have been hit by floods, which is among the worst to hit the country in recent times.
Tell me more: In Nepal, 141 people are confirmed dead, while about 115 people have been killed in Bangladesh. The death toll in Bihar and Assam, which are among the most affected Indian states, has increased to over 250 and 154 (including the lives lost due to floods that ended in mid-July). Over a million people are estimated to have been displaced in these three countries.
What is it? The number of companies whose shares will be compulsorily delisted from the Bombay Stock Exchange.
Why is it important? This will give an exit option for shareholders as 117 companies have remained suspended (meaning there has been no trading) on the stock exchange for more than a decade. BSE has asked the promoters to buy back shares at a price to be determined by an independent valuer appointed by the BSE.
Tell me more: Meanwhile, capital markets regulator Securities and Exchange Board of India is investigating the role of 100 brokers who are suspected of helping to launder Rs16,000 crore through shell companies, which have no real operations, by floating know-your-customer norms.
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