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

OKONJO-IWEALA: WTO TO CONVEY SPECIAL MEETING FOR SELECTION OF NEXT DG. (PHOTO).


 Okonjo-Iweala: WTO To Convey Special Meeting For Selection Of Next DG


The World Trade Organization has said it would convey a special meeting of its General Council to advance the process for selecting the next Director-General.


A statement issued by Chair of the General Council, Ambassador Petter Ølberg of Norway on Tuesday, said the meeting will be held on November 28-29, 2024.


The meeting follows the announcement by the Chair on 9 November that no candidates for the position of Director-General had emerged by the 8th of November nomination deadline, other than the incumbent Director-General, Ngozi Okonjo-Iweala.


In his communication to members, Ambassador Ølberg said that, based on his contacts with delegations over the past days, and as has been done in past instances where the incumbent Director-General was the only candidate, he intends to convene a special formal meeting of the General Council on 28 and 29 November.


The first day of the General Council meeting would allow members to hear a presentation from DG Ngozi Okonjo-Iweala on her vision for the WTO, followed by a question-and-answer session, the Chair said.


The second day could then provide an opportunity for members to decide on the appointment of the next Director-General.


On 8 October, the WTO formally commenced the process for appointing its next Director-General, with members given until the 8th of November to submit nominations.


DG Okonjo-Iweala’s current term comes to an end on 31 August 2025.

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