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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CHINA LAUDS SOUTH AFRICA FOR MOVING TAIWAN DIPLOMATIC OFFICE OUT OF CAPITAL. (PHOTO).

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 China lauds South Africa for moving Taiwan diplomatic office out of capital


China on Friday lauded South Africa for pushing Taiwan’s representative office out of capital Pretoria, state media reported.


“We appreciate South Africa's correct decision to move,” Foreign Ministry spokeswoman Mao Ning told reporters in Beijing.


Beijing’s comments came in response to reports that South Africa has given an ultimatum to Taipei to move its office out of the capital Pretoria by the end of October, according to TRT Afrika.


The South African foreign ministry said Friday that it had given Taiwan a “reasonable” timeframe of six months to relocate its “liaison office” to the commercial hub of Johannesburg.


The decision was communicated to China last month by South African Foreign Minister Ronald Lamola when he was in China for the China-Africa summit, the ministry said.


South Africa severed formal diplomatic ties with the self-governing island of Taiwan — over which China claims sovereignty — in 1997, but has an unofficial diplomatic relationship with it, as do many countries.


It has been pushing Taiwan to move its office since last year, citing UN Resolution 2758 and the "one-China principle."


“The one-China principle is a universally recognized norm in international relations and reflects the will of the international community and the trend of the times,” Mao said.


China claims Taiwan as its “breakaway province,” and expects its diplomatic allies to have no official contact with Taipei.


While Taipei has insisted on its independence since 1949, number of its diplomatic allies has dropped to 12 this year.


“The pursuit of ‘Taiwan independence’ is doomed to fail,” Mao claimed.

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