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

BOTSWANA PRESIDENT CONCEDES ELECTION DEFEAT. (PHOTO)


 Botswana president concedes election defeat


Botswana's president conceded defeat on Friday after his party which has governed the diamond-rich African country for nearly six decades suffered a resounding defeat in the October 30 general election.


"I wish to congratulate the opposition on their victory and concede the election," President Mokgweetsi Masisi told reporters at a press conference, AFP reported.


Masisi said he had already spoken to the leader of the left-leaning Umbrella for Democratic Change (UDC), Harvard-educated human rights lawyer Duma Boko, to arrange handing over the reigns of government.


While counting was still underway after Wednesday's general election, preliminary results showed the UDC well ahead in the race for seats in the parliament of the arid and sparsely populated nation.


It had secured more than 22 parliamentarians which, when added to around a dozen for two other opposition parties, totalled more than 31 of the 61 seats up for grabs, according to tallies based on reporting from counting centres.


Although the election authority is not likely to confirm the results until later Friday, initial scores meant Masisi's Botswana Democratic Party (BDP), which has been in power since independence from Britain in 1966, could not get enough seats to govern.


It was a major blow for the BDP and Masisi, 63, who took power in 2018 and had been confident of securing a second term.


"We got it wrong big time in the eyes of the people," Masisi said. "We were really convinced of our message. But every indication, by any measure, is that there's no way that I can pretend that we're going to form a government."


"I will respectfully step aside and participate in a smooth and transparent transition process ahead of inauguration," he said.


More than one million people were registered to vote, out of a population of 2.6 million, with concerns about unemployment and mismanagement in Masisi's first term leading complaints.


The self-confident and well-groomed Boko, 54, created the UDC in 2012 to unite opposition groups against the bulwark of the BDP. It is the third time that he has run for president.

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