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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INDIA PLEDGED OVER Rs. 6,300 CRORE IN FINANCIAL SUPPORT TO HELP THE MALDIVES TACKLE IT FOREIGN EXCHANGE CRISIS. (PHOTO).

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 India has pledged over Rs. 6,300 crore in financial support to help the Maldives tackle its foreign exchange crisis. 

The decision came after a meeting between Maldivian President Mohamed Muizzu and Indian Prime Minister Narendra Modi. The financial package includes a $400 million or Rs. 3320 crore (approx) currency swap and 230 billion under the INR swap window, aimed at stabilizing the Maldivian economy. The two leaders also discussed expanding economic ties and maritime security cooperation, unveiling a new vision document to boost trade, defense, and surveillance in the region.


Prime Minister Modi emphasized India’s strong commitment to the Maldives, referring to the island nation as India’s “closest neighbour and steadfast friend.” This support marks a shift in relations between the two countries, as ties had previously cooled under President Muizzu’s earlier stance of reducing dependence on India in favor of China. However, Muizzu recognized India’s crucial role in assisting his country during tough times, particularly highlighting the new currency swap as essential for economic stability.


In addition to financial aid, the two leaders launched India’s RuPay card in the Maldives to encourage tourism and inaugurated a new runway at Hanimaadhoo international airport, built with Indian credit worth $132 million or Rs. 1095 crore(approx) India also handed over 700 housing units constructed with Indian support. These projects are part of a broader effort to deepen economic collaboration between the two nations. 

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