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Showing posts from January 23, 2015

INDIAN BILLIONAIRE GAUTAM ADANI CHARGED IN U. S. FOR ALLEGED BRIBERY, FRAUD. (PHOTO).

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  Indian billionaire Gautam Adani charged in US for alleged bribery, fraud Gautam Adani, the chair of Indian conglomerate Adani Group and one of the world’s richest people, whose business empire extends from ports and airports to renewable energy,has been indicted in New York over an alleged multibillion-dollar fraud scheme, United States prosecutors have said. The authorities on Wednesday charged Adani and two other executives at Adani Green Energy, his nephew Sagar Adani and Vneet Jaain, with agreeing between 2020 and 2024 to pay more than $250m in bribes to Indian government officials to obtain solar energy supply contracts expected to yield $2bn in profits. Prosecutors said the renewable energy company also raised more than $3bn in loans and bonds during this period based on false and misleading statements. Shares of Adani Enterprises, the group's flagship firm, closed down 22% on Thursday. Other group firms also closed in the red. Adani Green Energy, which is the firm at the c
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3 COMPANIES WITHDREW THEIR SPONSORSHIP,FROM FIFA.

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                                  According to sources,oil manufacturers Castrol,Tyre company Continental and Healthcare Company Johnson and Johnson have followed Emirates and Sony by choosing not to renew their contracts with FIFA that expired last year.Sources claimed that the three companies had deterred by allegations of corruption that have been leveled at FIFA following the bidding process for the 2018 and 2022 world cups.Thierry Weil,FIFA Marketing Director said ''Rotations at the end of a sponsorship cycle are common place in the sports industry and have continuously occurred since the commercialisation of the FIFA World cup began.The contracts with with Castrol Continental and Johnson and Johnson were always planned to run until the end of 2014 and therefore expired on the 31th of December,2014 accordingly''.
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KING OF SAUDI ARABIA ABDULLAH,DIED TODAY MORNING.

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              According to sources,the King of Saudi Arabia,late King Abdullah,died today friday morning at the age of 90,and sources said,he will be buried in an unmarked grave today.Hours after his death,there was a move to ensure a smooth transition by appointing a new King and crown a Prince that to quell fears of dynastic instability at a time of regional turmoil.Abdullah's successor is King Salman,and King Salman will now take over as the ultimate authority in a country that faces unprecedented challenges in the region/difficult long term domestic challenges,compounded by the plunging price of oil.Jamal Khashoggi,the Head of a News Channel owned by a Saudi Price,said ''I think Salman will continue with Abdullah's reforms.He realizes the importance of this.He's not conservative in person,but he values the opinion of the conservative constituency of the country''.More photos below.                                       
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