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☆ Chiseled gladiators, tight leather pants, and copious amounts of olive oil: Inside Turkey’s ancient oil wrestling festival
▼ + stars: | 2024-07-10 | by ( Scott Mclean | Umut Sevdi Tangor | ) edition.cnn.com time to read: +7 min

He pours a bottle filled with a mixture of water and olive oil into the pants, and then with a few firm tugs on the waistband and a wiggle of the hips, he’s in. Koca is one of hundreds of wrestlers competing at this year’s Kirkpinar Oil Wrestling Festival in northwestern Turkey. The sport is similar to regular wrestling, except here, the competitors are covered head to toe in olive oil. Record breakerThe annual Kirkpinar Oil Wrestling Festival has been running for more than 600 years. Participants are doused in olive oil before taking part.

Persons: Cem Tekkesinoglu, Orhan Ghazi, ”, Abdullah Basar, ” Basar, –, Mustafa Kemal Ataturk, Filiz, Ferda Demir, Koca, They’ve, “, Hakan Mehmet Sahin, Basar, ‘ I’ve, ’ ”, I’ve, ” Akin, ” Guray Ervin, Tanem Zaman Organizations: CNN, Turkey CNN, Oil Wrestling, Anadolu Agency, Oil, Getty, Olympic, 663rd, “ Wrestling Locations: Edirne, Turkey, Koca, Anadolu, Republic of Turkey

☆ Adani’s battle with Hindenburg leaves investors sizing up exposure to the global banking sector
▼ + stars: | 2023-01-31 | by ( Seema Mody | ) www.cnbc.com time to read: +4 min

Indeed, Indian banks make up 0.6% of the group's sector loans, according to JPMorgan. This may seem low but the total exposure to the Adani Group is still around $9 billion, wrote Saurabh Kumar, an analyst at JPMorgan. Gautam Adani, chairman of Adani Group. Jefferies analyst Prakhar Sharma writes that, for now, the risk to Indian banks is low, saying, "we don't see material risk to the Indian banking sector." Of the seven companies operated by the Adani Group: Adani Green Energy, Adani Power and Adani Ports are sitting on the most net debt, according to analysts.

☆ Abu Dhabi's IHC plans to invest $381 mln in Adani Enterprises
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: +2 min

DUBAI, Jan 30 (Reuters) - Abu Dhabi conglomerate International Holding Company (IHC.AD) on Monday said it would invest 1.4 billion dirhams ($381.17 million) in Adani Enterprises' (ADEL.NS) follow-on public offer. "Our interest in Adani Group is driven by our confidence and belief in the fundamentals of Adani Enterprises Ltd; we see a strong potential for growth from a long-term perspective and added value to our shareholders," IHC CEO Syed Basar Shueb said in a statement. IHC, Abu Dhabi's largest listed company, invested $2 billion in Adani Group companies last year, including Adani Enterprises. Adani Group has hit back at the report by Hindenburg Research published last week that flagged concerns about Adani Group's debt levels and the use of tax havens. Investors' response to Hindenburg's criticisms will be tested this week by Adani Enterprises' $2.5 billion follow-on share offering which closes on Tuesday.

This has led to two IHC subsidiaries rounding out the three biggest companies on the Abu Dhabi Securities Exchange (ADX). ITH was expected to turn over half a billion dirhams ($136 million) and have $1 billion in assets by the second quarter, Shueb said. Pure Health, under Alpha Dhabi, aims to raise more than $1 billion in a first-quarter IPO delayed from this year. Its merger with state-owned Abu Dhabi Health Services (SEHA), which Shueb said has almost 24,000 employees, is taking longer than expected, delaying the IPO. IHC, which completed four IPOs this year and plans a similar number in 2023, has yet to appoint banks for the Pure Health IPO, Shueb said, adding it is considering a possible 2023 IPO of International Energy Holding.

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