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Charged of alleged $265 mn bribe plot New Delhi: The combined market valuation of all ten listed Adani Group firms fell sharply by Rs 2.19 lakh crore on Thursday, more than double of what the conglomerate had lost when the US short seller Hindenburg brought out a damning report in January 2023. Shares of Adani Group firms fell sharply as billionaire Gautam Adani was charged by US prosecutors for allegedly being part of a scheme to pay $265 million (about Rs 2,200 crore) bribe to Indian officials in exchange for favourable terms for solar power contracts. Adani, India’s second-richest man, and seven others including his nephew Sagar have been charged with paying bribes to unidentified officials of state governments in Andhra Pradesh and Odisha to buy expensive solar power, potentially earning more than $2 billion profit over 20 years. Adani Group denied charges of paying bribes, saying the allegations by US prosecutors are baseless. The group said it is compliant with all laws. It said all possible legal recourse will be sought. “The allegations made by the US Department of Justice and the US Securities and Exchange Commission against directors of Adani Green are baseless and denied,” the group spokesperson said in a statement. The stock of the group’s flagship firm, Adani Enterprises, plunged 22.61%, Adani Energy Solutions tanked 20%, Adani Green Energy plummeted 18.80%, Adani Ports dived 13.53%, Ambuja Cements cracked 11.98% and Adani Total Gas tumbled 10.40% on the BSE. Shares of Adani Wilmar declined 9.98%, Adani Power slumped 9.15%, ACC fell 7.29% and NDTV dipped 0.06%. Meanwhile, Kenya’s President William Ruto said on Thursday that he has cancelled multimillion-dollar airport expansion and energy deals with Gautam Adani after the US bribery and fraud indictments. Ruto said in a state of the nation address the decision was made “based on new information provided by our investigative agencies and partner nations”, without naming the United States. The Adani Group had been in the process of signing an agreement that would modernise Kenya’s main airport in the capital, Nairobi, with an additional runway and terminal constructed, in exchange for the group running the airport for 30 years. The widely criticised deal had sparked anti-Adani protests in Kenya and a strike by airport workers, who said it would lead to degraded working conditions and job losses in some cases. The Adani Group had also been awarded a deal to construct power transmission lines in Kenya, East Africa’s business hub.
The local government and agricultural authorities launched an investigation into the matter following the public outcry and allegations of fraud. They visited the village to inspect the cabbage fields and interview the villagers involved in the cultivation process. Initial findings revealed inconsistencies in the reported timeline of planting and growing the Chinese cabbage, casting doubt on the legitimacy of the entire operation.Nominations Open for 2025 Defense IT Summit Flywheel Awards
FAIRFAX, Va. , Nov. 25, 2024 /PRNewswire/ -- GovCIO Media & Research , a leading federal technology media company, opened the Flywheel Award nominations for the 2025 Defense IT Summit. Javascript is required for you to be able to read premium content. Please enable it in your browser settings.Brie Larson debuts shocking new pixie haircut for upcoming role in ‘Elektra’
“We need to continue to do our global work at CDC to make sure we are stopping outbreaks at their source,” Dr. Mandy Cohen, director of the Centers for Disease Control and Prevention, said in an interview Monday with The Associated Press. “We need to keep that funding up. We need to keep the expertise up. We need to keep the diplomacy up.” Cohen, 46, will be leaving office in January after about 18 months in the job. President-elect Donald Trump on Friday night said he picked Dave Weldon , a former Congressman from Florida, to be the agency’s next chief. Cohen said she hasn’t met Weldon and doesn’t know him. She previously voiced concern about Robert F. Kennedy Jr., the anti-vaccine advocate and CDC critic nominated to oversee all federal public health agencies . The CDC, with a $9.2 billion core budget, is charged with protecting Americans from disease outbreaks and other public health threats. The staff is heavy with scientists — 60% have master’s degrees or doctorates. The last eight years have been perhaps the most difficult in the agency's history. The CDC once enjoyed a sterling international reputation for its expertise on infectious diseases and other causes of illness and death. But trust in the agency fell because of missteps during the early days of the COVID-19 pandemic, political attacks and resistance to infection-prevention measures like wearing masks and getting vaccinated. The CDC has four political appointees, out of about 13,000 employees. The rest serve no matter who is in the White House, with civil service protections against efforts to fire them for political reasons. Trump said during the campaign that he wants to convert many federal agency positions into political appointments, meaning those employees could be hired and fired by whoever wins the election. There’s also a proposal to split the agency in two: one to track disease data, and another focused on public health but with a limited ability to make policy recommendations. And then there’s a current budget proposal in Congress that would cut the agency’s funding by 22%. It would also eliminate the CDC’s National Center for Injury Prevention and Control, which works on topics like drownings, drug overdoses, suicides and and shooting deaths. Cohen said there’s reason to be proud of the agency’s work in recent years. The CDC has built partnerships to improve the availability of testing for different infections and to watch for signs of disease outbreaks by monitoring wastewater . There are emerging threats, as always, but no new, full-fledged public health emergencies, she said. The day after the Nov. 5 election, Cohen emailed CDC employees to urge them to keep going. “While the world may feel different with changes ahead — our mission has not changed,” she wrote. She said she’s not aware of any wave of worried CDC scientists heading for the doors because of the election results. “There is a difference between campaigning and governing,” she said. “I want to go into this in a way that we’re passing the baton.” Cohen said she doesn’t know what she’ll do next, other than spend time with her family in Raleigh, North Carolina, where her family maintained its residence while she ran the agency. Next year, for the first time, the CDC director will be subject to Senate confirmation, which could make for a gap before Trump's pick takes the helm. CDC Deputy Director Dr. Debra Houry has been assigned to help manage the transition. Aside from administration transition, the CDC has to face several looming threats. Officials this month confirmed the first U.S. case of a new form of mpox that was first seen in eastern Congo. There’s also the ongoing stream of bird flu cases , most of them mild illnesses seen in farmworkers who were in direct contact with infected cows or chickens. CDC officials say they believe the risk to the public remains low and that there’s no evidence it’s been spreading between people. “I don’t think we’re yet at a turning place. But does that mean it couldn’t change tomorrow? It could,” she said. The Associated Press Health and Science Department receives support from the Howard Hughes Medical Institute’s Science and Educational Media Group. The AP is solely responsible for all content.In retaliation, Ukraine reported that its forces had destroyed several Russian military vehicles and equipment in the Luhansk region. Ukrainian officials stated that the operation was a successful counterattack against Russian aggression and a demonstration of Ukraine's military strength and readiness to defend its territory.
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