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☆ India elections: Asia’s most powerful billionaires Ambani, Adani are getting drawn in after Modi’s speech
▼ + stars: | 2024-05-09 | by ( Diksha Madhok | ) edition.cnn.com time to read: +6 min

New Delhi CNN —Two of the planet’s richest businessmen are becoming embroiled in India’s increasingly divisive election campaign. “Why has Shahzade Ji stopped talking of Ambani and Adani in this election all of sudden? “How much money have you taken from Ambani and Adani?” he said at the rally. Adani took over NDTV, an influential broadcaster, in 2022, while Ambani owns Network 18, which includes the CNN-News18 TV channel, a CNN affiliate. Billionaire RajIn the last decade, both Ambani and Adani have stunned the world with their success and influence.

Persons: Narendra Modi, Modi, Mukesh Ambani, Gautam Adani, Ambani, Ji, ” Modi, Rahul Gandhi, ”, Gandhi, Modi ” Gandhi, “, Abhinandan Sekhri, Adani, Billionaire Raj, Cassanelli, Jeff Bezos, Hindenburg’s, ferociously Organizations: New, New Delhi CNN, Reliance Industries, Adani, Indian National Congress, Reliance, CNN, India’s, Bank of India, NDTV, Billionaire, Bloomberg, Hindenburg Locations: New Delhi, India, Asia, American

☆ India’s economy and Modi, Ambani, Adani: The three men shaping the next economic superpower
▼ + stars: | 2024-05-07 | by ( Diksha Madhok | ) edition.cnn.com time to read: +13 min

Fellow billionaire Gautam Adani, founder of the Adani group, was also invited. Reliance Industries and the Adani Group are sprawling conglomerates worth over $200 billion each, with established businesses in sectors ranging from fossil fuels and clean energy to media and technology. As a result, these three men — Modi, Ambani and Adani — are playing a fundamental role in shaping the economic superpower India will become in the coming decades. Both Adani and Ambani have become key allies as the country embarks on this revolution. “India cannot grow rich before it becomes old on the back of a few big firms like Adani or Ambani,” he said.

Persons: Mukesh Ambani, Mark Zuckerberg, Bill Gates, Ivanka Trump, popstar Rihanna, David Blaine, Ambani, Gautam Adani, Jeff Bezos, ”, Rohit Lamba, Narendra Modi, — Modi, Adani, Noemi Cassanelli, ’, John D Rockefeller, Vanderbilt, James Crabtree, Modi, Guido Cozzi, Cozzi, Ambani’s, Dhirubhai, helms, Cantor Fitzgerald, Cantor, ’ Ambani, Amit Dave, Hindenburg’s, ferociously, ” Cantor, Modi’s, Prasanna Tantri, Crabtree, Lamba Organizations: New, New Delhi CNN —, Reliance Industries, Pennsylvania State University, Investors, Adani, CNN, Adani Realty, Frick, Astor, Carnegie, Samsung, Hyundai, World Bank . Coal, University of St, Adani Group, Reliance, Reliance Industry, Adani Enterprises, AEL “, Tata Group, Modi, India’s, Hindenburg, GQG Partners, Indian School of Business Locations: New Delhi, Gujarat, Davos, Coachella, Silicon Valley, India, China, Mumbai, Antilia, America, Asia, Britain, South Korea, Worth, United Kingdom, University of St Gallen, Switzerland, American

☆ Tech titans love Modi's economic powerhouse India — despite mass unemployment and abject poverty
▼ + stars: | 2024-05-04 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +13 min

Youth unemployment, income inequality, regional disparities, and Russian oil remain big problems. But the work starts there, as he'll have to navigate thorny issues such as youth unemployment, income inequality, and reliance on sanctioned Russian oil. "The other key economic policy was JAM — the trinity of bank accounts for the poor, mobile numbers and a biometric card. Indian demand for Russian oil has cooled in recent months as new sanctions have made it more expensive, but the buying remains controversial. Alexandr Demyanchuk/AFP/Getty ImagesIndia the IT hubUnder Modi, India has made big strides in modernizing its economy, combating bureaucracy, and appealing to foreign investors.

Persons: Narendra Modi, Elon Musk, Jamie Dimon, Tim Cook, —, Modi, Goldman Sachs, JPMorgan's Dimon, He's, Musk, Apple's Cook, Joe Biden, Sundar Pichai, Anna Moneymaker, Jensen Huang, Satya Nadella, Alphabet's Sundar Pichai, Richard Rossow, Demonetisation, Kunal Sen, Sen, Tim Graham, Rossow, tycoons Mukesh Ambani, Gautam Adani, Mukesh Ambani, Isha Piramal, Rihanna, Shloka Mehta Ambani, Akash Ambani, Radhika Merchant, Anant, Radhika, Ambani, they'd, Neelima Jain, Vladimir Putin, Alexandr Demyanchuk, Sanjay Shetty, Shetty Organizations: Service, titans, Monetary Fund, Gross, World Bank, Economic, of New, Google, Apple, Nvidia, Microsoft, India, Studies, Center for Strategic & International Studies, United Nations, United Nations University World Institute for Development Economics, University of Manchester, International Labor Organization, Oxfam, Bloomberg, Reliance Industries, Adani, CSIS, Indian, Shanghai Cooperation Organisation, Getty, Modi, Big Tech, Randstad, Economic Times Locations: India, Britain, Japan, Germany, China, of New York, Nimaj, Rajasthan, North Korea, Bihar, Uttar Pradesh, Russia, Ukraine, Europe, Moscow, Western, Samarkand, AFP, Randstad India

☆ Uranium Energy Corp CEO: U.S. needs to drill down on increasing uranium production
▼ + stars: | 2024-05-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUranium Energy Corp CEO: U.S. needs to drill down on increasing uranium productionAmir Adani, CEO of Uranium Energy Corp., joins CNBC's 'The Exchange' to share how his company is reopening mines, outlooks on U.S. uranium production, and more.

Persons: Amir Adani Organizations: Uranium Energy Corp

☆ India's markets regulator puts seven Adani companies on notice for violations
▼ + stars: | 2024-05-03 | by ( ) www.cnbc.com time to read: +1 min

Chairperson of Indian conglomerate Adani Group, Gautam Adani, speaking at the World Congress of Accountants in Mumbai on November 19, 2022. India's markets regulator has sent notices of regulatory violations to seven companies of the Adani conglomerate, including its flagship Adani Enterprises, the group said in stock exchange filings. The regulator began probing the Adani group, led by billionaire Gautam Adani, after Hindenburg Research in January 2023 alleged improper use of tax havens and stock manipulation by the group, accusations the group has denied. Adani Green Energy, Adani Power, Adani Total Gas, Adani Energy Solutions, Adani Wilmar, and Adani Ports have also received notices from SEBI in the first quarter, the companies said in separate filings to the exchanges this week. Typically such violations attract monetary penalties or management can be barred from capital markets for a certain period.

Persons: Gautam Adani, Wilmar Organizations: Adani, World, Accountants, Adani Enterprises, Hindenburg Research, Securities and Exchange Board of India, Energy, Adani Energy Solutions Locations: Mumbai, SEBI

☆ CNBC's Inside India newsletter: A $270 billion gamble on green?
▼ + stars: | 2024-04-25 | by ( Ganesh Rao | ) www.cnbc.com time to read: +8 min

Solar panels stand at the Welspun Energy solar power plant in Neemuch, Madhya Pradesh, India. One sector in particular — electrical power transmission — will see $270 billion in financial benefits, according to Goldman Sachs. While utilities like the Power Grid Corporation of India may be perceived as unsexy, compared to growth stocks like Tesla, India plans to promote renewable energy without the taxpayer spending a single rupee. The country has added about 70 gigawatts of solar power capacity over the past decade without piling on further costs by simply maximizing the grid's usage. Currently, state governments in India levy surcharges and taxes on every unit of carbon-intensive energy transmitted through the grid.

Persons: Vivek Prakash, Elon Musk, Narendra Modi, Goldman Sachs, It's, Vinay Dwivedi, India Anna Dravida, Vinay, Modi, Mohamed Muizzu's, Jamie Dimon, Modi's Organizations: Bloomberg, Getty, U.S, Power Grid Corporation of India, Goldman, Companies, Reliance Industries, Adani Enterprises, Tamil Nadu —, Dravida Munnetra Kazhagam, India Anna Dravida Munnetra Kazhagam, CNBC, Modi's Bharatiya Janata Party, Vodafone Idea, Vodafone, West, Economic, of New, JPMorgan, CNBC Pro, we'll Locations: Neemuch, Madhya Pradesh, India, Tamil Nadu, Dravida, New Delhi, Maldives, China, Beijing, West Indies, Pakistan, U.S, of New York

☆ Billionaire Gautam Adani got rich off coal. Now his company is building a green energy plant the size of Chicago.
▼ + stars: | 2024-03-20 | by ( Grace Eliza Goodwin | ) www.businessinsider.com time to read: +1 min

Coal billionaire Gautam Adani is building the world's largest power plant, and it's all renewable. Adani's nephew, who's in charge of the project, says there's "no choice" but to go big on green energy. Still, the Adani Group makes 62% of its revenue from fossil fuel. Adani Green Energy Limited (AGEL) is building the solar and wind power plant in a salt desert in the western Indian state of Gujarat. AGEL is the clean energy unit of the Adani Group, the biggest coal miner and importer in India founded by billionaire Gautam Adani in 1988.

Persons: Gautam Adani, who's, Adani Organizations: Adani, Service, Green Energy, Forbes, Business Locations: Belgium, Chile, Switzerland, Chicago, Gujarat, AGEL, India, Asia

☆ India’s Adani Green Energy Limited is building world’s biggest clean energy plant five times the size of Paris
▼ + stars: | 2024-03-19 | by ( Diksha Madhok | ) edition.cnn.com time to read: +8 min

Its clean energy unit AGEL is building the sprawling solar and wind power plant in the western Indian state of Gujarat at a cost of about $20 billion. But the tycoon has since bounced back and the group is now pouring billions into the clean energy sector. It plans to invest $100 billion into energy transition over the next decade, with 70% of the investments ear-marked for clean energy. A worker walking past rows of solar panels at the Khavda Renewable Energy Park. “[Gautam] Adani continues to walk both sides of the street,” said Tim Buckley, director of Sydney-based think tank Climate Energy Finance.

Persons: can’t, ” Sagar Adani, Adani, He’s, Gautam Adani, Punit Paranjpe, AGEL, ”, haven’t, Hindenburg’s, Gautam, Narendra Modi, Modi, Tim Buckley, ” Buckley, Paranjpe, “, that’s, ” Adani Organizations: New, New Delhi CNN —, CNN, Adani Green Energy, Adani, Khavda, Energy, Hindenburg, AGEL, Getty, International Energy Agency, Sydney, Climate Energy Finance Locations: New Delhi, Paris, Switzerland, India, Gujarat, Indian, Mundra, AFP, Pakistan, American, China, Europe, London, Africa, Australia

☆ An activist short-seller is making a name for itself by taking on Carl Ichan, Gautam Adani and others
▼ + stars: | 2024-03-19 | by ( Elliot Smith | ) www.cnbc.com time to read: +6 min

Anderson exposes corporate fraud and ponzi schemes through his company Hindenburg Research. Congress (IYC) staged a protest demanding a probe into the allegations of fraud made against the Adani group in the Hindenburg research report. Controversial practice Breakout Point has tracked 74 Hindenburg short bets it has opened since 2017. watch nowBiggest hits One of Hindenburg's biggest recent campaigns centered on a collection of businesses owned by Indian billionaire Gautam Adani. In January 2023, Hindenburg published a report accusing Adani Group companies of "brazen stock manipulation and accounting fraud."

Persons: Nate Anderson, Anderson, Carl Icahn, Gautam Adani, Ivan Cosovic, Hindenburg, LPP, Gautam Organizations: Hindenburg Research, Washington Post, The Washington Post, Getty, The, CNBC, Indian Youth Congress, Central, Indian Youth Congress Office, Congress, Hindustan Times, GameStop, Hindenburg's, Adani, Securities and Exchange Board of India Locations: The New York, NY, New York, DELHI, India, New Delhi, Gdansk, Russia, Ukraine

☆ How can foreign investors cash in on India’s growth? Here are the ETFs and stocks to buy
▼ + stars: | 2024-03-07 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

India's economic prospects are shining bright, attracting global investors eager to capitalize on the country's immense growth potential. The International Monetary Fund expects India's real gross domestic product (GDP) to expand by 6.5% in 2024. However, tapping into these opportunities as a foreign investor is not as straightforward as buying shares listed on the Indian stock exchanges. This allows investors outside India to buy shares more easily. ADRs are a way for investors to own shares in a foreign company, with the shares themselves held by a U.S. bank.

Persons: Malcolm Dorson, Alex Watts, GDRs, Dorson Organizations: Monetary Fund, India Active, Franklin FTSE, Interactive, London Stock Exchange, Major, Nokia, Airtel Locations: India, Franklin FTSE India, U.S, Canada, Germany, France, Finnish, China, Europe

☆ Anant Ambani pre-wedding bash: Celebrities, tycoons jet to Indian billionaire heir’s celebrations in Jamnagar
▼ + stars: | 2024-03-01 | by ( Story Reuters | ) edition.cnn.com time to read: +3 min

New Delhi Reuters —Charter jets for tycoons and celebrities, a performance by Rihanna and directions to don “jungle fever” outfits when visiting an animal rescue center — that’s how billionaire Mukesh Ambani is kickstarting big fat Indian wedding celebrations for his son. The occasion of the moment that has India transfixed is a three-day pre-wedding jamboree for his youngest son Anant Ambani, 28, who is set to marry his long-time girlfriend Radhika Merchant, 29. Anant is a director at Reliance’s new energy business and one of Ambani’s three children who are the heirs to his empire. Ambani also made headlines with his daughter Isha’s wedding in 2018 which was described by some as a mini-Davos summit. Guests to Anant Ambani’s celebrations are set to savor 500 dishes created by around 100 chefs.

Persons: Rihanna, Mukesh Ambani, Ambani, Anant Ambani, Radhika Merchant, Anant, David Blaine, Bill Gates, Meta’s Mark Zuckerberg, Gautam Adani, Kumar Mangalam Birla, Shah Rukh Khan, Salman Khan, Bob Iger, Hillary Clinton, John Kerry, Anant Ambani’s Organizations: Delhi Reuters —, Reliance, Forbes, Disney, Reliance’s, Encore, Former U.S, Reuters Locations: Delhi, India, Jamnagar, Reliance’s, Gujarat, Davos, Former, New Delhi, Mumbai

☆ Hindenburg's latest short target Temenos rejects allegations as share price tumbles
▼ + stars: | 2024-02-16 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +2 min

Shares in Swiss software company Temenos were down over 6% on Friday afternoon, extending Thursday's losses when they closed over 28% lower. Temenos on Thursday released a statement saying its board of directors "fundamentally refutes" a report by short-seller Hindenburg Research. Temenos shares were down 6.1% at 1:17 p.m. London time, trading around 59.66 Swiss francs ($67.67). In its statement, Temenos said Hindenburg's report "contains factual inaccuracies and analytical errors, together with false and misleading allegations ... Its Adani report, published in early 2023, accused the company of "brazen stock manipulation and accounting fraud scheme over the course of decades."

Persons: Temenos, Hindenburg Research's, Hindenburg, Carl Icahn's Icahn, Adani Organizations: New York Stock Exchange, Hindenburg, CNBC Friday, Investment, Carl Icahn's Icahn Enterprises, Adani, Securities, Exchange Board Locations: London, Temenos, India

☆ India’s Modi to inaugurate Abu Dhabi’s first Hindu temple
▼ + stars: | 2024-02-14 | by ( Rhea Mogul | ) edition.cnn.com time to read: +6 min

CNN —India’s Prime Minister Narendra Modi is in the United Arab Emirates to inaugurate a Hindu stone temple, boosting his credentials as a global statesman months before he heads to the polls in a nationwide election where he is seeking a rare third term in power. Indian Prime Minister Narendra Modi with President of the United Arab Emirates Sheikh Mohamed bin Zayed Al Nahyan in Ahmedabad state of Gujarat, India on January 9, 2024. Yet, analysts expect this will not present an issue for Modi during his visit, given India’s rising prominence, its growing economy and strategic position on the global stage. In 2015, the UAE government allocated land for the development of the temple, in a major win for the diaspora. President Joe Biden visits Raj Ghat memorial with Prime Minister of India Narendra Modi and other G20 leaders, Sept. 10, 2023, in New Delhi.

Persons: CNN —, Narendra Modi, Modi, Sheikh Mohamed bin Zayed Al Nahyan, United Arab Emirates Sheikh Mohamed bin Zayed Al, ”, Asim Ali, ” Ali, “, Ram, Nicolas Blarel, Blarel, Swaminarayan, ” Blarel, Kadira Pethiyagoda, that’s, Joe Biden, Raj, India Narendra Modi, Kenny Hoston, Mukesh Ambani, Gautam Adani, Powers, ” Pethiyagoda Organizations: CNN, CNN — India’s, United, United Arab Emirates, Emirates, Guard, Indian, PIB, Getty, Bharatiya Janata, International Relations, Institute of Political Science, Leiden University, BJP, Brookings, Reuters Locations: United Arab, Abu, United Arab Emirates, United Arab Emirates Sheikh Mohamed bin Zayed Al Nahyan, Ahmedabad, Gujarat, India, Anadolu, UAE, New Delhi, Abu Dhabi, The Netherlands, South Asia, Indian, “ India, Saudi Arabia, East, Europe, “, China, Russia, Ayodhya, India’s

☆ India’s Gautam Adani rebounds from Hindenburg attack with return to the $100 billion club
▼ + stars: | 2024-02-08 | by ( Diksha Madhok | ) edition.cnn.com time to read: +5 min

Hindenburg Research published a blistering report in January 2023, accusing Gautam Adani, then Asia’s richest man, of engaging in fraud over decades. “The group has done exceptionally well on various fronts since the Hindenburg report,” said Manish Chowdhury, head of research at brokerage StoxBox. On Thursday, his wealth once again crossed the $100 billion threshold, according to the Bloomberg Billionaires Index. An ‘attack’ on IndiaHindenburg Research, named after the 1937 airship disaster, had accused the Adani Group of “brazen stock manipulation” and it questioned the “sky-high” valuations of Adani firms. However, since the Hindenburg report, the group has worked on reducing its borrowing.

Persons: David, Gautam Adani, Hindenburg, Adani, ”, Manish Chowdhury, ” Adani, Jeff Bezos, Mukesh Ambani, John D Rockefeller, Cornelius Vanderbilt, Narendra Modi, Chowdhury, “ Organizations: New, New Delhi CNN, Hindenburg Research, Bloomberg, India Hindenburg Research, Adani, GQG Partners, “, America’s, Adani Enterprises, Indian, Bharatiya Janata Party Locations: New Delhi, India, ’, ”, Times

☆ What’s next for Zee shares? Here’s what Wall Street analysts are saying after Sony merger was called off
▼ + stars: | 2024-01-23 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

Shares of the Indian media house fell 34% on Tuesday, while investors shrugged off the impact on the $124 billion Japanese media and technology giant Sony. ZEEL-IN 1Y mountain What are analysts saying about Zee shares, moving forward? Citi sharply slashed its price target on Zee's stock from 340 Indian rupees to 180 Indian rupees. Zee has not stated whether it will pursue the merger while the litigation with Sony could hinder improvements in operations or explore a merger with other players," the analysts added. Similarly, Elara analysts added, "Possibility of any other strategic/financial partner buying majority stake in Zee could provide respite to valuation multiples."

Persons: Motilal Oswal, Zee, Motilal, Aliasgar Shakir, Karan Taurani, Pulkit Chawla, Emkay, Zee's, Punit Goenka, Chawla Organizations: Zee Entertainment, Sony, Zee, Citi, Wall, Reliance, Disney Star India, Motilal Oswal, Star, Disney, Netflix, Amazon Prime, Reliance Industries, Media, Elara, RIL, Zee Management, Quintillion Business Media, Bloomberg News, NDTV Locations: India, Zee

☆ This fund scored a big win with its bet on Adani. Now, it could be pressing pause
▼ + stars: | 2024-01-18 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +1 min

Art school teacher Sagar Kambli gives final touches to a painting of Indian businessman Gautam Adani (L) highlighting the ongoing crisis of the Adani group in Mumbai on February 3, 2023. One of the biggest investors in India's Adani Enterprises says he may be done doubling down on his investment. So I don't know [if] we'll double down further," Jain said on "Street Signs Asia." I don't know whether we'll go further from here." Adani Enterprises, owned by one of India's richest men Gautam Adani, is one of the country's top three conglomerates.

Persons: Sagar Kambli, Gautam Adani, Rajiv Jain, Jain, we'll Organizations: India's Adani Enterprises, GQG Partners, CNBC, Adani Enterprises, Hindenburg Locations: Mumbai, New

☆ Investment management firm says it feels 'vindicated' in betting on Adani
▼ + stars: | 2024-01-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInvestment management firm says it feels 'vindicated' in betting on AdaniRajiv Jain, chairman and chief investment officer at GQG Partners, discusses the Adani-Hindenburg saga and says the "vast majority" of allegations was "yesterday's news," adding that "markets have clearly spoken."

Persons: Rajiv Jain Organizations: Email Investment, GQG Partners

☆ Adani Group founder Gautam Adani is once again Asia's richest person
▼ + stars: | 2024-01-05 | by ( Charmaine Jacob | ) www.cnbc.com time to read: +1 min

Gautam Adani is the richest person in Asia again, according to Bloomberg Billionaires Index's updated figures Friday. The founder and chairman of the Adani Group regained pole position in Asia after dethroning Reliance Industries Chairman Mukesh Ambani, who took the top spot after Hindenburg Research accused the Adani Group of "brazen stock manipulation and accounting fraud" over decades. The report eroded investor confidence and wiped out billions in market value for Adani Group companies. The Adani Group has 10 publicly listed companies, including Adani Port which was 2.8% higher on Asia's Friday afternoon trading session. As of Friday, Adani's net worth stood at $97.6 billion and he was the world's 12th richest person, while Ambani's wealth stood at $97 billion and he was in 13th place, according to the Bloomberg Billionaires Index.

Persons: Gautam Adani, Index's, Mukesh Ambani, Hindenburg, Ambani's Organizations: Bloomberg, Adani Group, dethroning Reliance, Hindenburg Research, Adani, Securities, Exchange Board of India Locations: Asia

☆ One country dominated clean energy growth this year, and it isn't the US, UK, or Germany. It's China, by a landslide.
▼ + stars: | 2023-12-27 | by ( Associated Press | ) www.businessinsider.com time to read: +11 min

In the United States, California continues to have the most solar energy, followed by Texas, Florida, North Carolina, and Arizona. China was one of the few growing markets this year for wind, the Global Wind Energy Council said. Faster permitting and other improvements in key markets such as Germany and India also helped add more wind energy. The top three markets this year are still China, the United States, and Germany for wind energy produced on land, and China, the United Kingdom, and Germany for offshore. The analysts are predicting that the global industry will rebound next year and make nearly 12% more wind energy available worldwide.

Persons: Mohammed bin Rashid Al Maktoum, Joshua A, Bickel, it's, Michael Taylor, IRENA, Karim Shahi, Rafiq Maqbool, Daniel Bresette, Bresette, Abigail Ross Hopper, Wood, Wood Mackenzie, Julia Nikhinson Construction, John Hensley, Seth Wenig, Hau Dinh, Evan Hartley, Paul Braun, John Eichberger, Daan Walter Organizations: Service, International Energy Agency, Business, IEA, United Arab Emirates, Climate, AP, International Renewable Energy Agency, Arizona . Workers, Energy Limited's, Energy, Environmental, Energy Study Institute, Solar Energy Industries Association, Global Energy Monitor, Wind Energy, Clean Power, Workers, Atlas Public, Benchmark Mineral Intelligence, Benchmark, University of Illinois, Panasonic, Toyota, Health, General Motors Co, LG Energy, Transportation Energy Institute, Rocky Mountain Institute Locations: Germany, Spain, Mohammed, Dubai, United, Bickel China, Europe, United States , California, Texas , Florida, North Carolina, Arizona, Karim, Khavda, Bhuj, India, Pakistan, Gujarat, China, Wood Mackenzie, Montauk Point , New York, Asia, United States, State, New London, Conn, United Kingdom, Hai Phong, Vietnam, Kansas, Ohio

KHAVDA, India (AP) — Rising from the bare expanse of the large salt desert that separates India from Pakistan is what will likely be the world's largest renewable energy project when completed three years from now. The solar and wind energy project will be so big that it will be visible from space, according to developers of what is called the Khavda renewable energy park, named after the village nearest to the project site. Shifting to renewable energy is a key issue at the ongoing COP28 climate summit. Once completed, it will supply 30 gigawatts of renewable energy annually, enough to power nearly 18 million Indian homes. Given this, Virmani said there is enough land in Kutch for various renewable energy projects.

Persons: ”, KSRK Verma, Khavda, Verma, “ It’s, Vneet Jaain, Adani, Gautam Adani, Adani Green, ” Ajay Mathur, Mathur, Abi T Vanak, Vanak, Sandip, Virmani, Hirelal Rajde, “ Organizations: Associated Press, Adani Green Energy Limited, Adani, Adani Group, Hindenburg, Group, International Solar Alliance, Ashoka Trust for Research, Twitter, AP Locations: KHAVDA, India, Pakistan, Singapore, Rann, Kutch, India’s Gujarat, China, United States, Bengal, Ahmedabad, Jaain, U.S, Mundra, Gujarat, Europe, Africa, Bengaluru, Denmark, Khavda

☆ New billionaire heirs overtake self-made ones as $5.2 trillion wealth transfer begins
▼ + stars: | 2023-11-30 | by ( Hanna Ziady | ) edition.cnn.com time to read: +5 min

“The great wealth transfer is gaining significant momentum as many billionaire entrepreneurs age,” Benjamin Cavalli, who oversees strategic clients in the global wealth management unit at UBS, told reporters. Their combined wealth rose 9% to $12 trillion, before taking inflation into account. Arnault is the world’s third-richest man, with a net worth of $167 billion, according to the Bloomberg Billionaires Index. Risks and opportunity for UBSThe “staggering” transfer of wealth to younger generations presents a huge opportunity for UBS, but also poses considerable risks, according to Cavalli. Heirs lean more toward impact investing — that is, socially or environmentally beneficial investing — over “classic grant-giving philanthropy,” Cavalli said.

Persons: “, ” Benjamin Cavalli, LVMH's Bernard Arnault, Helene, Frederic, Delphine, Antoine, Alexandre, Bernard Arnault, Arnault, Tesla’s Elon Musk, Jeff Bezos —, —, India’s Gautam Adani, Mukesh Ambani, Cavalli, ”, Morgan Stanley —, Stefan Wermuth, ” Cavalli, Charlie Munger, Henry E Organizations: London CNN, UBS, Bloomberg, Adani Group, Reliance Industries, Suisse, Getty, ”, Berkshire Hathaway, Huntington Library, Art Locations: Paris, Europe, France

Adani has denied wrongdoing, saying that Indian authorities assessed its coal shipments before releasing them from ports. India's Supreme Court is also overseeing the market regulator's probe of Hindenburg's allegations. If India's Supreme Court allows the agency's latest request, it would then need to seek an order from Singapore's Court of Appeal to release the material. The Singapore court declined requests from Reuters last month to inspect related case documents, saying in written responses that the files were sealed. The stance adopted by Adani's companies in Singapore "created impediments" and the investigation "remains stalled", the revenue agency told India's Supreme Court in 2021 filings.

Persons: Adani, Hindenburg, Gautam Adani, Narendra Modi's, Modi, Lucien Wong, Adani's, Arpan Chaturvedi, Aditya Kalra, Sudarshan Varadhan, David Crawshaw Organizations: Adani Group, Revenue Intelligence, Adani, Adani Enterprises, Reuters, India's, Ministry of Finance, Ministry of Home Affairs, Hindenburg Research, Investigators, Singapore Attorney, Thomson Locations: India, DELHI, Singapore, Adani, Gujarat, Indonesia, SINGAPORE, Singapore's, Mumbai, New Delhi

Regulators have so far not mandated any minimum net worth or investor qualifications for those trading stock options, and the stock markets almost always rise each year - both recipes for higher risk-taking and complacency. The "stark" increase in daily options trading turnover raises issues of investor protection, said Ajay Tyagi, former SEBI chief. The platform has seen an uptick in futures and options trading activity, Zerodha said in response to Reuters queries. Siddharth Joshi, a 36-year old from Surat in western India, said he lost 200,000 rupees trading options on Adani Enterprises (ADEL.NS) shares in January. "In options trading, I know my loss is capped but there is an opportunity to make maximum profit," he said.

Persons: Francis Mascarenhas, Mihir Vora, SEBI, Ashish Chauhan, Ajay Tyagi, Kailash, Bhavesh Shah, Shah, Zerodha, Siddharth Joshi, he's, Ira Dugal, Vidya Ranganathan, Raju Gopalakrishnan Organizations: Bombay Stock Exchange, REUTERS, Rights, Securities, Exchange Board of India, Trust Mutual Fund, National Stock Exchange of India Ltd, BSE Ltd, Reuters, Axis Mutual Fund, National Stock Exchange, Adani Enterprises, Thomson Locations: Mumbai, India, Rights MUMBAI, South Korea, Bhavesh, Ahmedabad, Surat

☆ US commits $553 mln financing for Adani terminal venture at Colombo port
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +2 min

Traffic moves past the logo of the Adani Group installed at a roundabout on the ring road in Ahmedabad, India, February 2, 2023. REUTERS/Amit Dave/File Photo Acquire Licensing RightsCOLOMBO, Nov 8 (Reuters) - The U.S. International Development Finance Corporation (DFC) said it will provide $553 million financing for a Colombo port terminal project, partly owned by India's Adani Group, advancing the first foray by an Indian company into the sector. Ports-to-edible oils Adani group, controlled by Indian billionaire Gautam Adani, holds a 51% stake in the west container terminal of the port, which also has a terminal run by China Merchants Port Holdings Co Ltd (0144.HK). India extended about $4 billion in swaps and credit lines to Sri Lanka last year, providing critical support to import fuel, medicine and fertiliser during the worst of the crisis. Sri Lankan conglomerate John Keells Holdings owns 34% of the WCT and the rest is held by the state-run Sri Lanka Ports Authority (SLPA).

Persons: Amit Dave, Gautam Adani, Scott Nathan, Uditha Jayasinghe, Kim Coghill Organizations: Adani, REUTERS, Rights, U.S . International Development Finance Corporation, India's Adani, China Merchants Port Holdings Co, HK, West, John Keells Holdings, WCT, Sri Lanka Ports Authority, Thomson Locations: Ahmedabad, India, Colombo, Indian, Sri Lanka, China, Sri

COLOMBO, Sri Lanka (AP) — The U.S. announced a $553- million project Wednesday to build a new, deep-water shipping container terminal in the Port of Colombo as it competes with China in international development financing. The U.S.-backed financing comes at a time when Sri Lanka is struggling to recover from a dire financial and economic crisis. Sri Lanka borrowed heavily from China to build the port and other infrastructure including an airport and a city being built on reclaimed land. Both neighboring India and China are jostling for influence in Sri Lanka and both have already invested in expanding facilities at the Colombo port. Colombo port also has a terminal run by China Merchants Port Holdings.

Persons: ”, Scott Nathan, Sri Lanka’s John Keells, Lanka’s, Wang Wenbin, William & Mary, AidData, China's, saysChina, Bradley Parks, “, ” ___ Didi Tang Organizations: South, U.S . International Development Finance Corp, West, Local, Sri, Sri Lanka’s John Keells Holdings, Initiative, Foreign Ministry, China Merchants Port Holdings, CHEC Port City Colombo Co, China Communications Construction Company, William & Locations: COLOMBO, Sri Lanka, U.S, Port, Colombo, China, Bay, Bengal, Beijing, Hambantota Port, Hambantota, India, oceanside, Port City, Virginia, “ Beijing, Washington

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