By Sethuraman N R (Reuters) -Indian billionaire Gautam Adani’s group will build and operate a $3 billion coal-fired power plant in Bihar state with a 2.4 gigawatt capacity, it said on Thursday, the biggest coal plant constructed in India via private investment in a decade. The first of three units at the plant will be…
In today’s world, where being a billionaire is no longer rare, a new category to distinguish the ultra-rich from the rest has emerged, called the “superbillionaires”. According to Wall Street Journal (WSJ), these individuals possess a net worth of $50 billion or more. As of February, their fortunes accounted for more than 16% of all…
New Delhi: Prime Minister Narendra Modi’s visit to the United States this week for talks with President Donald Trump has global implications. The upcoming discussions between the two leaders will centre on defence cooperation, trade relations, and countering China’s growing economic and military influence. One of the key items on the agenda will be the…
By Krishna N. Das DHAKA (Reuters) – Bangladesh wants to sharply lower prices under a power purchase deal with India’s embattled Adani Group unless it is cancelled by a court, which has called for an investigation into the 25-year deal, its de facto energy minister told Reuters on Sunday. Adani Group founder Gautam Adani is…
US prosecutors have indicted Gautam Adani and his nephew, Sagar Adani, among others, for their alleged involvement in a $265 million (Rs 2,000 crore) bribery case to secure solar power supply contracts in India. According to court records cited by Reuters, arrest warrants have been issued in the US for Gautam and Sagar Adani, with…
NEW DELHI (Reuters) -Indian billionaire Gautam Adani has been indicted by U.S. prosecutors for conspiring with executives of a formerly New York listed company to devise a $265 million scheme to bribe Indian officials to boost their solar energy business. Adani Group denied the allegations as “baseless”, while Indian government officials haven’t commented so far….
Asia-Pacific markets declined on Thursday, with shares affected by the higher earnings of American graphics card giant Nvidia (NVDA, Financial) and a sell-off across Adani Group-linked stocks due to fraud allegations against its chairman, Gautam Adani. Third-quarter revenue was $35.08 billion, a 94% year-on-year growth but lower than Nvidia’s previous double-digit quarterly expansion. Net income…