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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OKONJO-IWEALA TO SEEK SECOND TERM AS WTO DG. (PHOTO).

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 Okonjo-Iweala To Seek Second Term As WTO DG


Ngozi Okonjo-Iweala, the first woman and first African to head the World Trade Organization, will seek a second four-year term when her mandate expires next August, her spokesman said Monday.


“We can confirm that Dr. Ngozi Okonjo-Iweala has officially announced her intention to seek a second term as Director-General of the WTO,” spokesman Ismaila Dieng said in a statement.


Dieng said the 70-year-old had taken into account “the overwhelming and broad-based support expressed by members”.


Her current term at the helm of the 166-member WTO ends in August 2025.


Her decision to seek another term was officially communicated to WTO chair Norwegian Ambassador Petter Olberg on Monday.


The WTO’s African Group formally requested that she make herself available for a second term at that same meeting, and proposed that the process to re-nominate her should begin as soon as possible.


So far no other candidates have come forward.


Okonjo-Iweala, who took over in March 2021, has hinged her leadership on breathing new life into the sclerotic organisation.


The former foreign and finance minister of Nigeria sold herself as someone who can bang heads together and get business done.

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