In a surprising turn of events, Adani Ports, part of the Adani Group conglomerate, has decided to walk away from a $553 million loan offered by the United States Development Finance Corporation (DFC) for its Colombo Port project in Sri Lanka. This decision, disclosed by the company on Tuesday, raises
The Adani Group, one of India’s largest business empires, has faced a shocking $55 billion loss in market value. This comes after US prosecutors accused its top executives, including chairman Gautam Adani, of being involved in a massive bribery and fraud scheme. Gautam Adani, once among the world’s richest men,
Gautam Adani, India’s second-richest man and leader of the massive Adani Group, is facing serious trouble. The United States Securities and Exchange Commission (SEC) has issued a summons to him, accusing his company of paying bribes to Indian officials to win major contracts. According to Reuters, a New York court
In a dramatic turn of events, Kenyan President William Ruto has ordered the cancellation of major contracts with India’s powerful Adani Group. This decision came just one day after the company’s chairman, Gautam Adani, was charged with fraud in the United States. The charges accuse him of bribing government officials
The Adani Group, one of India’s largest business empires, is in deep trouble. The company has lost around $26 billion in market value after the US Department of Justice (DOJ) accused its founder, Gautam Adani, and key executives of bribery and fraud. Adani Enterprises, the flagship company of the group,
Gautam Adani, one of India’s wealthiest individuals and chairman of the Adani Group, has been hit with serious charges in the United States. Prosecutors in Brooklyn, New York, have accused Adani and top executives in his company of paying $250 million in bribes to Indian government officials. The alleged goal?
Indian billionaire Gautam Adani, one of the world’s wealthiest men, just announced a huge investment plan in the United States that’s sparking attention worldwide. Adani, known for his energy and infrastructure empire, says he’ll pump $10 billion into US energy and infrastructure projects, a move that he claims will create
On Monday, Kenya’s Supreme Court made a big decision that could change the future of Jomo Kenyatta International Airport (JKIA), the busiest airport in East Africa. The court temporarily stopped a plan to lease the airport to India’s Adani Group for 30 years. This move is causing a lot of
Bangladesh is facing a big challenge over an unpaid energy bill of nearly $500 million owed to India, and it’s putting pressure on the country’s new interim government. The Financial Times (FT) recently reported that Bangladesh is rethinking its energy deals, particularly one involving Indian conglomerate Adani Group. The Background
