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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INDONESIA IMPOSED A BAN ON GOOGLE PIXEL SMARTPHONE SALES. READ WHY BELOW. (PHOTO).

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Indonesia has imposed a ban on Google Pixel smartphone sales, citing Google’s failure to meet local manufacturing requirements.

 The Indonesian Ministry of Industry announced that Google must comply with the rule requiring at least 40% of the phone’s content to be sourced locally. Ministry spokesperson Febri Hendri Antoni Arief confirmed that Google will not be able to sell its smartphones in Indonesia until it obtains the necessary local content certification.


Explaining the decision to local media, Arief emphasized the intent behind the policy, saying it aims to create a level playing field for all investors while also supporting Indonesia’s domestic industry. The requirement for local content is part of Indonesia’s broader push to attract tech companies to establish manufacturing facilities in the country, thus creating more jobs and boosting economic growth.


Earlier this year, Indonesia had also banned the sale of Apple’s iPhone 16 for similar reasons. Apple has yet to meet the required local content threshold, which has resulted in delays in securing the TKDN (Domestic Component Level) certification necessary for sales. These regulations are seen as a move to encourage companies like Apple and Google to support local industry development.


Despite ongoing discussions between Apple CEO Tim Cook and Indonesian President Joko Widodo about potential investments, Apple’s current investment in Indonesia remains short by around 230 billion rupiahs from the committed 1.71 trillion rupiahs. This shortfall continues to delay the certification, leaving the timeline for Apple’s full compliance and the potential resumption of iPhone 16 sales uncertain. . 

 

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