Adani Group strongly denies U.S. allegations of a $265M bribery scheme involving key executives. Despite political and financial fallout, the group asserts its growth plans remain unaffected, while legal responses to the charges are being prepared.
The finance chief of India's Adani Group, Jugeshinder Singh, has dismissed allegations by U.S. authorities accusing executives, including Chairman Gautam Adani, of involvement in a $265 million bribery scheme to secure solar power contracts.
Speaking in Mumbai, Singh strongly denied the claims, asserting that no such transactions occurred and promising the accused individuals would address the matter within 10 days after seeking legal advice.
The conglomerate has previously labelled the allegations as "baseless" and pledged to explore legal options. Singh reassured that the charges would not affect Adani’s expansion plans, stating that no acquisitions or investments in logistics and energy would be halted.
India's foreign ministry clarified it had not received any request from the U.S. regarding the case, emphasising it as a legal matter between private entities. The government, not informed of the indictment in advance, maintains established legal procedures will be followed.
The allegations have intensified political tensions in India, with opposition parties accusing the ruling BJP of favouring Adani, a claim denied by the government. While Adani Group shares initially plunged by $34 billion, they have since recovered significantly.
The fallout includes reviews of Adani-related projects, with TotalEnergies halting further investments, Indian banks reassessing exposure, and Kenya scrapping a $2 billion airport deal. Adani Green Energy delayed a $600 million bond issue, opting for private placement instead, while the group plans to repay $3 billion in debt through rupee borrowings over the next year.
U.S. Vice President J.D. Vance visited military personnel in Los Angeles on Friday following their deployment to the city earlier this month in response to protests triggered by federal immigration enforcement actions.
As Argentina’s unemployment hits a four-year high, the spotlight has turned to the libertarian administration of President Javier Milei, whose sweeping economic reforms are reshaping the country’s social and labour landscape.
South Korea’s chief trade negotiator, Yeo Han-koo, will travel to the United States from June 22 to 27 for a new round of high-level discussions aimed at resolving escalating trade tensions, the Ministry of Trade, Industry and Energy announced on Saturday.
US President Donald Trump said Friday that a major deal with Harvard University could be announced soon.
US President Donald Trump rejected the official assessment from his intelligence community that Iran is not currently building a nuclear weapon.
Iranian missiles struck multiple locations across Israel and neighbouring regions early Friday morning, including a Microsoft office complex, according to emergency responders and local media reports.
Peace is no longer a dream. It is a discussion. On the streets of Baku and Yerevan, it is also a question, of trust, of foreign interests, and of who truly wants it.
A high-speed tram derailment in central Gothenburg, Sweden, has left at least eight people injured late on Thursday (19 June), after the vehicle slammed into a snack bar on Avenyn Avenue.
The 2025 G7 Leaders’ Summit was held June 15–17 in Kananaskis, Alberta, under Canada’s presidency. Prime Minister Mark Carney framed the meeting around priorities of protecting communities, energy and climate security, the digital transition, and future partnerships.
The USS Nimitz is heading to the Middle East amid tensions between Israel and Iran. The U.S. aircraft carrier has a decades-long history in the region, from the 1979 hostage crisis to modern deployments, often serving as a key asset during periods of rising friction with Iran.
Germany’s producer prices dropped 1.2% year-on-year in May, in line with market expectations, largely due to falling energy prices, official data showed Friday.
The World Bank is pushing for “radical” debt transparency from developing countries to prevent future financial crises, warning that hidden debts are fueling instability.
European stock markets ended the day in negative territory following interest rate decisions by major central banks, including the U.S. Federal Reserve (Fed) and the Bank of England (BoE).
South Korea’s new administration proposed $14.7 billion in additional spending on Thursday to boost weak domestic demand, as President Lee Jae Myung pushes economic recovery as his top priority.
If the European Central Bank adjusts interest rates in the next six months, the move would likely be a cut, ECB policymaker Francois Villeroy de Galhau said on Thursday.
U.S. Vice President J.D. Vance visited military personnel in Los Angeles on Friday following their deployment to the city earlier this month in response to protests triggered by federal immigration enforcement actions.
As Argentina’s unemployment hits a four-year high, the spotlight has turned to the libertarian administration of President Javier Milei, whose sweeping economic reforms are reshaping the country’s social and labour landscape.
South Korea’s chief trade negotiator, Yeo Han-koo, will travel to the United States from June 22 to 27 for a new round of high-level discussions aimed at resolving escalating trade tensions, the Ministry of Trade, Industry and Energy announced on Saturday.
US President Donald Trump said Friday that a major deal with Harvard University could be announced soon.
US President Donald Trump rejected the official assessment from his intelligence community that Iran is not currently building a nuclear weapon.
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