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“The overall trend is unmistakable: The far right is gaining ground,” said Matthijs Rooduijn, a politics professor at the University of Amsterdam. But recent elections have seen the far right increasingly usurp centrist conservatives as the main right-wing force. “But that potential upper limit just keeps increasing.”The far right is “no longer second fiddle to the main right-wing party. Centrists can sometimes cobble together coalitions to keep out the far right — even if those parties are smaller individually. Whereas in France, Le Pen was kept from victory in June-July parliamentary elections by an intricate network of tactical voting between erstwhile rivals.

Persons: Donald Trump, remigrate, Geert Wilders, ”, Matthijs Rooduijn, ” Wilders, “, Le Pen, Wilders ’, Le, ” It’s, Björn Höcke, Jens Schlueter, Nadia Urbinati, Markus Wagner, ” Wagner, Jordan Bardella, Benjamin Girette, Herbert Kickl Organizations: U.S, Austria’s Freedom Party, NBC News, France’s National, Marine, University of Amsterdam, University of Georgia, London, Dutch Party for Freedom, France “, jihadists, NBC, Germany, Nazi, Ukraine —, Columbia University, Labour Party, ”, University of Vienna, France’s Rassemblement National, Bloomberg, Getty, Austrian People’s Party Locations: Germany, European, Europe, East, North Africa, France, Britain, “, Austria

Iran vows revenge over Nasrallah's deathIsraeli forces killed Hassan Nasrallah, the leader of the militant and political group Hezbollah, in a large-scale attack in Beirut on Friday. Ukrainian President Volodymyr Zelenskyy visited the U.S. last week for meetings with Trump, President Joe Biden and Vice President Kamala Harris. The ride-or-die fans of historically bad White SoxSights, scenes and snacks at the Los Angeles Angels-vs.-Chicago White Sox game at Guaranteed Rate Field in Chicago on Tuesday. Akilah Townsend for NBC NewsWith Friday's loss, the Chicago White Sox broke the record for the most losses in a Major League Baseball season. Leading up to the historic 121st loss, NBC News spoke with loyal White Sox fans whose support has not wavered despite the team's bad season.

Persons: Hassan Nasrallah, Vahid, Benjamin Netanyahu, Nasrallah, Abbas Nilforoushan, Abbas Aragchi, Israel, Yemen’s Ras Issa, Helene, Hurricane Helene, Joe Biden, Roy Cooper, Sheriff Quentin Miller, Kamala Harris, Donald Trump, Harris, Joe Biden’s, Press Sen, Marco Rubio, Biden, Trump, ” Rubio, Kristen Welker, Volodymyr Zelenskyy, Eric Adams, Sarah McBride, Akilah Townsend, I'm, Lance Norton, Mori, Tom Carpenter, ”, Rashee Rice, Ashley Landis Organizations: Hezbollah, Israeli, Islamic Revolutionary Guard Corps, Iranian, U.S ., Israel Defense Forces, NBC, Sheriff, Tennessee Bureau of Investigation, ’, NBC News, Telemundo, CNBC, Democratic, NBC News ’, Party, Press, U.S, Trump, New York, Republicans, Sox, Los Angeles Angels, Chicago White Sox, Major League Baseball, 121st, White Sox, American Pet Products Association Locations: Beirut, Iran, Lebanon, U.S, Hurricane, Florida, North Carolina, Buncombe County, Tennessee, Austria, Russia, Ukraine, Chicago

☆ Far right wins close Austria election, a boost for Putin
▼ + stars: | 2024-09-29 | by ( Freddie Clayton | Freddie Clayton Is A Freelance Journalist Based In London. | ) www.nbcnews.com time to read: +4 min

Projections from ORF public television based on exit polls suggest that the pro-Russia, anti-immigration Freedom Party, or FPÖ, has finished first, with 29.1% of the vote. It appears to have knocked the ruling conservative Österreichische Volkspartei (ÖVP), or Austrian People’s Party, into second place, with 26.2% of the vote. But it has fallen far short of an absolute majority in the tight election and will need help to form a stable government. But even if the party fails to form a coalition government, the result will serve as a symbolic victory for the far right. Chancellor and ÖVP leader Karl Nehammer has so far ruled out any coalition that includes Kickl.

Persons: Österreichische, Herbert Kickl, ”, Adolf Hitler, Kickl, Vladimir Putin —, Karl Nehammer Organizations: Party, Austrian People’s Party, Social Democratic Party of Austria, ÖVP, NATO Locations: Russia, Europe, Austria, East, North Africa, Ukraine, Germany, France, Netherlands

☆ Far-right wins close Austria election, a boost for Putin
▼ + stars: | 2024-09-29 | by ( Freddie Clayton | ) www.cnbc.com time to read: +4 min

People walk past election campaign billboards showing Austrian Chancellor Karl Nehammer of the Austrian People's Party (OeVP) and Herbet Kickl of the far-right Austria Freedom Party (FPOe) on September 24, 2024 in Vienna, Austria. A far-right party founded by former Nazis appeared to have won Austria's election Sunday, in a result that could reshape Europe's political landscape and help tilt the balance of power between Russia and the West. They appear to have edged out the ruling conservative Österreichische Volkspartei (ÖVP) or Austrian People's Party, into second place with 26.2% of the vote. But even if the party fails to form a coalition government, the result will serve as a symbolic victory for the far-right. The OVP is the only party that has been open to allying with the far-right party in the past, and it remains to be scene whether they will accept the role of sidekick this time around.

Persons: Karl Nehammer, Österreichische, Herbert Kickl, Adolf Hitler, Kickl, Vladimir Putin —, Alexander Smith, Carlo Angerer Organizations: Austrian People's Party, Freedom Party, Party, Social Democratic Party of Austria, ÖVP, OVP, NATO, NBC Locations: Vienna, Austria, Russia, Europe, East, North Africa, Ukraine, Germany, France, Netherlands

Though Austria is a member of the European Union, its far-right party leading the polls has strong links with Russian President Vladimir Putin — the bloc’s arch nemesis. The chairman and top candidate of the Freedom Party of Austria Herbert Kickl waves to supporters after kicking off his party's electoral campaign on September 7, 2024 in Graz, Austria. Kickl’s vision is to build “Fortress Austria” and “Fortress Europe,” as he put it during a debate on Austrian public television Thursday night. In 2016, party leader Heinz-Christian Strache signed a formal “cooperation pact” with Putin’s United Russia party. The FPÖ’s return is far from certain, currently polling at 27%, narrowly ahead of the ruling Austrian People’s Party on 25% and the Social Democratic Party of Austria on 21%, according to European polling aggregator PolitPro.

Persons: that’s, Adolf Hitler —, it’s, Vladimir Putin —, Peter Filzmaier, Kerms, Herbert Kickl, ”, Hitler, Kickl, Freedom Party of Austria Herbert Kickl, Alex Halada, Nazi ”, “, Karl Nehammer, Andreas Babler, Joe Klamar, Gabriela Bacher, Donald Trump, Heinz, Christian Strache, Karin Kneissl, Putin, Strache, Victor Orban, Bacher Organizations: Freedom Party, NATO, Ukraine, Moscow, European Union, Gratz, Freedom Party of Austria, Getty, Immigrants, “, Austrian, Nazi, Austrian People’s Party, Social Democratic Party, NBC, Trump, NBC News, Putin’s United, Social Democratic Party of Austria Locations: Austria, Russia, Europe, Graz, AFP, East, North Africa, Jerusalem, Austrian, Vienna, American, Austrian Republic, Ukraine, Putin’s United Russia, Russian, Moscow, Slovakia, Hungary, Republic

☆ Austria’s far-right is the frontrunner for Sunday’s elections. How did it get here?
▼ + stars: | 2024-09-28 | by ( Sophie Tanno | ) edition.cnn.com time to read: +10 min

The FPÖ is known as the grandfather of European far-right parties and pedals an anti-migrant, anti-Islam, Eurosceptic and anti-vaxx agenda. It has held power at a federal level three times, in coalition with other groupings, making it one of just a few far-right parties in Europe to have done so. AFP/Getty ImagesIts political stance changed again when Jörg Haider – the son of former Nazi party members – became leader of the party in 1986. FPÖ leader Herbert Kickl speaks to supporters ahead of European parliamentary elections on June 7. According to Reinhard, the FPÖ is more likely to form a government if it comes second than if it comes first.

Persons: –, ” Benjamin Biard, FPÖ, ” Biard, “, ”, Biard, Heinz, Christian Strache, Jörg Haider –, Haider, ’, Herbert Kickl, Taylor, “ remigration, Christian Bruna, Viktor Orban –, Vladimir Putin’s, Kickl, ” Heinisch Reinhardt, Reinhardt, Karl Nehammer, Thomas Kronsteiner, Reinhard, ” Reinhard Organizations: CNN, Party, Italian Lega, Dutch Party for Freedom, “, Getty, Nazi, Austrian People’s Party, EU, Hungary’s Fidesz, Greens, University of Salzburg, Social Democrats Locations: Austria, Europe, Brussels, Flemish, Italian, Germany, Nazi, Austrian, Salzburg, AFP, Ukraine, Vienna, Lower Austria, Russia, loggerheads, ÖVP

☆ Austrian far right pledges to win Sunday's election as tight race winds up
▼ + stars: | 2024-09-28 | by ( ) www.cnbc.com time to read: +1 min

Austrian Chancellor and Head of the Austrian People's Party (OeVP) Karl Nehammer (L) and chairman and top candidate of the Freedom Party of Austria (FPOe) Herbert Kickl (R) meet during their pre-election tv debate hosted by Austrian state network ORF in Vienna, Austria on September 23, 2024. The leader of Austria's far-right Freedom Party (FPO), Herbert Kickl, pledged on Friday to win this weekend's parliamentary election in what would be a historic first, even as opinion polls show the race is now too close to call. Chancellor Karl Nehammer's conservative Austrian People's Party (OVP), however, has closed the gap to within the margin of error, as the OVP sought to present him as a statesman in contrast to the often abrasive and polarizing Kickl. "This time we will be number 1," he said, underscoring the fact that it would be the first time the party founded in the 1950s had won a parliamentary election. It secured its first national victory this year when it beat the OVP by less than a percentage point in June's European election.

Persons: Karl Nehammer, Herbert Kickl, Austria's, Chancellor Karl Nehammer's, Kickl Organizations: Austrian People's Party, Freedom Party of Austria, Austrian, ORF, Party, European Union, Stephen's, OVP Locations: Austrian, Vienna, Austria, St

☆ 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 FBI informant Peter Thiel dished about two Kremlin invites to private Putin meetings
▼ + stars: | 2023-11-10 | by ( Mattathias Schwartz | Hans-Martin Tillack | ) www.businessinsider.com time to read: +18 min

It was Angermayer who introduced Bisslinger to Thiel at the party, Thiel would later tell the FBI. After some small talk, Bisslinger made a pitch to Thiel: Thiel should travel to Russia to attend the St. Petersburg International Economic Forum. If Thiel chose to attend, Bisslinger said, Bisslinger would arrange for him to meet privately with Putin. "Even if Mr. Angermayer did introduce Mr. Thiel and Mr. Bisslinger," the lawyers wrote in another letter, "Mr. Angermayer is not—and cannot be—responsible for whatever Mr. Bisslinger and Mr. Thiel may or may not have discussed." At his 40th birthday, he connected Peter Thiel with a Russian diplomat, Thiel later told the FBI.

Persons: Peter Thiel, Christian Angermayer, Thiel, Daniil Bisslinger, Bisslinger, Vladimir Putin's, Angermayer, Putin, Maksim Konstantinov, —, Frank Figliuzzi, Vladimir Putin, — Charles Johnson —, Johnathan Buma, Johnson, Welt, Dmitry Peskov, John Lamparski, Donald Trump, — Thiel, Der Spiegel, he'd, Elon Musk, Musk, Thiel —, he's, Palantir, He's, Uma Thurman, Robbie Williams, Queen Latifah, Paul Kagame, Dan McCrum, John Kerry, Richard Grenell, Kerry, Sensei Biotherapeutics, Trump, Dmitry Medvedev, Medvedev, Maureen Dowd, Alexander Schütz, Eva Schütz, Schütz, — Heinz, Christian Strache, Markus Braun, Jan Marsalek, Marsalek, Caroline Haskins, Katherine Long, Jack Newsham, Mattathias Schwartz, Hans, Martin Tillack Organizations: Kremlin, Tech, Pentagon, CIA, Facebook, SpaceX, Kremlin's Ministry of Foreign Affairs, Russian Embassy, Thiel, St ., Economic, Getty, FBI, Atlantic, Bisslinger, Germany, Elon, Russia, NSA, US Special Operations Command, National Health Service, Apeiron Investment, Munich Security, intel, Trump, State Department, Angermayer's, PayPal, Nasdaq, Sciences, The New York Times, Deutsche Bank, Welt Locations: Silicon Valley, Schloss Neuwaldegg, Vienna, Silicon, Moscow, Russian, Berlin, Russia, St, St . Petersburg, Petersburg, Ukraine, Europe, Germany, NATO, Crimea, Ukrainian, Sevastopol, Palantir, Washington, Rwanda, Baltic, Belarus, Iran, Angermayer's Malta, Munich, China, China's, Austrian, Austria, Exxpress, Wirecard, schwartz79@protonmail.com

☆ Austrian leader backs far-right idea of enshrining cash in constitution
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: +2 min

Austrian Chancellor Karl Nehammer delivers his speech during a session of the Parliament in Vienna, Austria, May 12, 2023. REUTERS/Leonhard Foeger/File PhotoVIENNA, Aug 4 (Reuters) - Austria's conservative Chancellor Karl Nehammer wants the right to use cash enshrined in the constitution, he told Austrian media in remarks published on Friday, an idea the far-right Freedom Party has been pushing for years. Most opinion polls show the anti-immigration Freedom Party (FPO) in first place with a clear lead over the opposition Social Democrats and Nehammer's conservatives, who are in a two-party coalition with the left-wing Greens. "The issue of cash is very important to people," Nehammer told Austrian media, including news agency APA. "It is important to me that cash be written into the constitution," APA quoted him as saying.

Persons: Karl Nehammer, Leonhard Foeger, Nehammer, Magnus Brunner, Herbert Kickl, Francois Murphy, Christina Fincher Organizations: REUTERS, Austrian, Party, Social Democrats, Greens, APA, Thomson Locations: Vienna, Austria

☆ Investor reaction to Adani market rout after short-seller report
▼ + stars: | 2023-02-02 | by ( ) www.reuters.com time to read: +4 min

The rout has sparked concern that the fallout could also affect, more broadly, confidence in India. GEORGE BOUBOURAS, HEAD OF RESEARCH AT K2 ASSET MANAGEMENT, MELBOURNE (UNDERWEIGHT ON INDIA)"The Adani effect works both ways given the market cap relative to index. "To attract more capital the Indian economy needs more FTAs (free-trade agreements) and more financial market reform - a long process." Given there has not been any significant change for now for the market valuation, the market remains overall expensive in our view." Adani is a known levered name in India, so I would think most participants should not associate the same issues for other Indian assets."

☆ Instant View: India's Adani calls off $2.5 bln share sale
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: +2 min

NEW DELHI, Feb 1 (Reuters) - India's Adani Enterprises (ADEL.NS) on Wednesday called off its $2.5 billion share sale, citing market conditions, a week after a U.S. short-seller's critical report unleashed a rout in the wider Adani Group's stocks. COMMENTARYDEVEN CHOKSEY, MANAGING DIRECTOR, KR CHOKSEY SHARES AND SECURITIES"In the given situation, when the entire environment has become negative, it is good that the share sale is withdrawn. GURMEET CHADHA, CHIEF INVESTMENT OFFICER AND MANAGEMENT PARTNER OF COMPLETE CIRCLE WEALTH"It was the right thing to do. It must have been a hard decision but it was the right thing to do. To go through this exercise of a share sale and to call it off raises more questions."

☆ India's Adani ditches $2.5 bln share sale after $86 bln rout
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: +3 min

NEW DELHI, Feb 1 (Reuters) - India's Adani Enterprises Ltd (ADEL.NS) on Wednesday withdrew its $2.5 billion secondary share sale after Adani Group shares plummeted on concerns raised by a U.S. short-seller. * Anchor investors Maybank Securities and Abu Dhabi Investment Authority pick up stake in Adani Enterprises' share sale, India's largest follow-on public offering (FPO). * Indian shares fell to their lowest level in more than a week, dragged lower by Adani Group stocks. * Adani Enterprises, the flagship company of the group founded by billionaire Gautam Adani, begins its $2.5 billion FPO for retail investors. JAN 31* Adani Enterprises' FPO fully subscribed as investors pumped funds into the share sale, despite the rout in the group's stocks.

☆ Gautam Adani's statement on withdrawing $2.5 bln share sale
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: +2 min

Here is what billionaire chairman Gautam Adani said:"The Board takes this opportunity to thank all the investors for your support and commitment to our FPO. The subscription for the FPO closed successfully yesterday. "However, today the market has been unprecedented, and our stock price has fluctuated over the course of the day. Given these extraordinary circumstances, the Company’s board felt that going ahead with the issue will not be morally correct." "We will continue to focus on long term value creation and growth will be managed by internal accruals.

India's largest ever secondary share sale attracted participation from anchor investors including Maybank Securities and Abu Dhabi Investment Authority, as well as India's HDFC Life Insurance and state-backed Life Insurance Corporation (LIFI.NS). By Tuesday the overall share sale was fully subscribed as foreign institutional investors and corporate funds flooded in, although participation by retail investors and Adani Enterprises (ADEL.NS) employees remained low. Support for Adani's share sale came even as the flagship's shares closed at 2,973.9 rupees, up nearly 3% but below the lower end of the sale price band of 3,112 rupees. So, what happens to one particular corporate group, is a matter between the market and the corporate group." Reuters GraphicsHindenburg said in its report it had shorted U.S.-bonds and non-India traded derivatives of the Adani Group.

[1/5] Indian billionaire Gautam Adani speaks during an inauguration ceremony after the Adani Group completed the purchase of Haifa Port earlier in January 2023, in Haifa port, Israel January 31, 2023. REUTERS/Amir CohenSummarySummary Companies Adani scripts comeback by completing share saleKey $2.5 billion share sale fully subscribed-dataShort-seller's report led to fall in Adani sharesMUMBAI, Jan 31 (Reuters) - Gautam Adani's crucial $2.5 billion share sale was fully subscribed on Tuesday as investors pumped funds into his flagship firm, despite a $65 billion rout in the Indian billionaire's stocks sparked by a short-seller's report. Support for Adani's share sale came even as the flagship's shares closed at 2,973.9 rupees, up nearly 3% but below the lower end of the sale price band of 3,112 rupees. So, what happens to one particular corporate group, is a matter between the market and the corporate group." Hindenburg said in its report it had shorted U.S.-bonds and non-India traded derivatives of the Adani Group.

☆ Factbox: Adani's $2.5 bln share offer gets investor backing after tumultuous week
▼ + stars: | 2023-01-31 | by ( ) www.reuters.com time to read: +1 min

Jan 31 (Reuters) - The secondary share sale of billionaire Gautam Adani's flagship Adani Enterprises (ADEL.NS) was fully subscribed on Tuesday, after a rough week for the Indian group that saw a sharp sell-off in its shares following a scathing short-seller report. Foreign institutional investors and corporates pumped in funds into the share sale, according to data, while participation by retail investors and Adani Enterprises employees remained low. Adani has called Hindenburg Research's report a "calculated attack". U.S.-based Hindenburg disclosed last week that it holds short positions in Adani companies and accused the conglomerate of improper use of offshore tax havens, and also flagged concerns about its debt levels. Below is what some of the investors who subscribed to the follow-on public offer (FPO) - either as anchor investors earlier this month or after the short-seller report - had to say about their exposure to Adani:Reporting by Bansari Mayur Kamdar in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

☆ Instant View: Adani's $2.5 billion offer rides out share storm with investor backing
▼ + stars: | 2023-01-31 | by ( ) www.reuters.com time to read: +5 min

COMMENTARYAMBAREESH BALIGA, INDEPENDENT MARKET ANALYST, MUMBAI"The FPO did get subscribed, thanks to a few institutional as well as large family offices. DEEPAK JASANI, HEAD OF RETAIL RESEARCH, HDFC SECURITIES, MUMBAI"For Indian markets, one of the concern areas is out of the way for the time being as this was weighing on investor sentiment. Since the current market price is below the offer price, the retail subscription was low as investors can rather buy it from the market." That was their focus area considering the fact that there was a difference between the market price and the floor price of the FPO. It seems that retail investors did not consider the fact that there is more to rates than just the price."

☆ Adani rides out storm as investors rally behind $2.5 billion share sale
▼ + stars: | 2023-01-31 | by ( ) www.cnbc.com time to read: +4 min

But on Tuesday, the overall share sale was fully subscribed as foreign institutional investors and corporates pumped in funds, although participation by retail investors and Adani Enterprises employees remained low. That sparked $65 billion in cumulative losses for stocks of the Adani group, which called the report baseless. The support for Adani's share sale came even as the flagship's shares closed at 2,973.9 rupees, up nearly 3% but below the lower end of the sale price band of 3,112 rupees. Demand mostly came from foreign institutional investors, as well as corporates who bid in excess of 1 million rupees each, data showed. Adani Transmission closed nearly 4% higher on Tuesday after losing 38% since the Hindenburg report, while Adani Ports and Special Economic Zone climbed 2.6%.

☆ 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.

[1/2] The logo of the Adani Group is seen on the facade of its Corporate House on the outskirts of Ahmedabad, India, January 27, 2023. Adani Group in a statement said: "There is no change in either the schedule or the issue price." The Adani Group has called the report baseless and said it was considering taking action against Hindenburg. Friday's 20% fall in shares of group flagship Adani Enterprises dragged it 11% below the minimum offer price of the secondary sale. The Hindenburg report questioned how the Adani Group used entities in offshore tax havens such as Mauritius and the Caribbean islands.

☆ Adani Group fallout drags Indian shares to 3-month low
▼ + stars: | 2023-01-27 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Jan 27 (Reuters) - Indian shares fell more than 1% to a three-month low on Friday, as banks continued to lead the market lower along with Adani Group companies in the wake of a short-seller attack on the conglomerate. He said the hammering of Adani Group stocks has upset investor sentiment and created a crisis of confidence. Adani Ports (APSE.NS) and Adani Enterprises (ADEL.NS) were the top losers on the Nifty 50 on Friday, ahead of the latter's $2.45 billion follow-on public offering (FPO). The heavyweight financials sector (.NIFTYFIN) again led the slide, falling more than 2% even though brokerages said banks' exposure to the Adani Group was within manageable limits. The drop in Indian stocks was in contrast to their Asian peers, which hit a near nine-month-high after strong U.S. economic growth data eased recession worries.

☆ Instant view: India's Adani slammed by $48 bln stock rout, clouding record share sale
▼ + stars: | 2023-01-27 | by ( ) www.reuters.com time to read: +2 min

COMMENTARYJ.P.MORGAN"While the Hindenburg report focused mainly on equity valuations within the group, we are primarily concerned about the underlying credit profiles of group companies given underlying bank exposures. Clearly given the size of the group and outstanding debt, this has also impacted the banks." So if a report comes and stocks see a sharp fall, lot of margin calls also get triggered. At least 40% of the group's debt is exposed to Indian banks, so that exposure is what people are worried about in banks. Reporting by Rama Venkat and Bharath Rajeswaran in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

☆ Asia's richest person doubles down on defence against fraud allegations ahead of a massive share sale
▼ + stars: | 2023-01-27 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

It aimed to address some of Hindenburg's allegations of market manipulation and accounting fraud. Shares of listed Adani Group companies are extending steep declines on Friday, following the report. The allegations in Hindenburg's bombshell Tuesday report could not have come at a more inopportune moment for Adani group. A secondary share sale of Adani Enterprises — the flagship business of the Adani business empire founded by Asia's richest person, Gautam Adani, is currently underway. Shares of Adani Group companies are taking a beatingOn Friday, shares of Adani Enterprises were 15.4% lower at 3.42 a.m.

☆ Gulf investors bid for India's Adani Enterprises' $2.5 bln FPO - Bloomberg News
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: +2 min

Mubadala Investment Co PJSC and BNP Paribas SA (BNPP.PA) have also bid for shares, the report said, adding that the anchor book was oversubscribed about two times. Adani Enterprises last week set the floor price for India's largest FPO at 3,112 rupees per share with a price cap of 3,276 rupees apiece. While bidding for anchor investors began on Wednesday, bidding for retail investors will commence from Friday, with the offer closing for both sets of investors on Jan. 31. Spokespersons for Adani Enterprises, LIC and SBI Life did not immediately respond to a Reuters request for comment. Adani has said it will use 108.69 billion rupees from the FPO to fund green hydrogen projects, airports facilities and greenfield expressways.

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