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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SOUTH AFRICA'S RAMAPHOSA CALLS FOR MASSIVE BFICS INVESTMENT IN AFRICA. (PHOTO).

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 South Africa's Ramaphosa calls for massive BRICS investment in Africa


South African President Cyril Ramaphosa has called on the BRICS group of world's emerging economies to invest in the development of Africa, given the potential of the continent, TRT Afrika reported.


President Ramaphosa made the call while addressing the BRICS Business Forum ahead of the bloc's summit due to start on Tuesday in Kazan, Russia.


The South African leader pointed out that Africa's free trade arrangement is ''unlocking massive opportunities'' and called on the BRICS members to make ''substantial'' investment in Africa's infrastructure and skills for young people.


''We therefore call on fellow BRICS countries to partner with us to build the roads that are needed, the ports for exports and imports, the rail lines, the energy and the telecommunications networks, that will enable Africa to industrialise and to be able to trade with other countries in the world,'' he said.


The BRICS Summit in Russia is due to take place from October 22 to 24, with attendance expected from several world leaders.


According to Russian Presidential Aide Yury Ushakov, 32 countries have confirmed their participation, with 24 being represented by their heads of state, while the remaining eight will send high-ranking officials.


In addition, heads of several international organisations will take part in the event, including UN chief Antonio Guterres, said Ushakov.


Major topics at the summit are likely to include economic cooperation, trade agreements and the challenges faced by BRICS members, such as geopolitical tensions, the global economic slowdown and climate change.

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