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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ETHIOPIA DECLARES STATE OF EMERGENCY OVER VIOLENCE. (PHOTO).

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Ethiopia declares ‘state of emergency’ over violence

Ethiopia’s Federal Government on Friday declared a “state of emergency” following an escalation of violence in the northern region of Amhara, the office of Prime Minister Abiy Ahmed said.

“It has become necessary to declare a state of emergency as a situation has emerged where it has become difficult to control this unacceptable movement under current law,” it said in a statement posted on social media.

The statement did not make clear if the state of emergency applied nationwide or just to Amhara, which lies to the north of the capital Addis Ababa.

Abiy’s government did not reply immediately to questions from AFP.
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Clashes in Amhara between the national army and local fighters have escalated in recent weeks, prompting travel warnings from foreign governments and the cancellation of flights by the national carrier Ethiopian Airlines.

Tensions have been rising since April when the federal government announced it was dismantling regional forces including in Amhara, where nationalists felt the move would weaken Ethiopia’s second most populous region.

AFP

 

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