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 SIGNS DEAL WITH BREAKAWAY SOMALILAND ON RED SEA PORT ACCESS.(PHOTO)

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Ethiopia signs deal with breakaway Somaliland on Red Sea port access

Somaliland plans to lease a 20-km (12.4-mile) stretch of land along its coastline to Ethiopia to establish a marine force base, while Ethiopia would recognise Somaliland as an independent country.

Landlocked Ethiopia has signed an initial agreement with Somalia's breakaway region of Somaliland to use its Red Sea port of Berbera.

The memorandum of understanding was signed by Ethiopian Prime Minister Abiy Ahmed and Somaliland President Muse Bihi Abdi on Monday.

As part of the deal, Somaliland plans to lease a 20km (12.4-mile) stretch of land along its coastline to Ethiopia to establish a marine force base, Abdi said at the signing.

The pact prompted an emergency meeting of Somalia's cabinet on Tuesday morning to decide on a response, the Somali National News Agency (SONNA) said.
 

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