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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.
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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S. $61 billion aid package will make a 'big difference' for Ukraine, think tank saysJames Crabtree, distinguished visiting fellow at the European Council on Foreign Relations, says it is unlikely to make a "material, decisive difference … but it does mean the danger that Ukraine was going to be pushed back over the second half of this year is now much less likely."
Persons: James Crabtree Organizations: U.S, European Council, Foreign Relations Locations: Ukraine
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStalemate between Russia and Ukraine is likely to continue, says think tankJames Crabtree of the International Institute for Strategic Studies says Russia isn't in a strong position and Ukraine doesn't have the "numbers and capabilities" to launch a victory strike of its own.
Cambodian Prime Minister and ASEAN host Hun Sen addressed Friday's opening ceremony with a call for vigilance and wisdom during times of economic and geopolitical turmoil. The junta has blamed a lack of progress on the pandemic and obstruction from armed resistance movements that it calls terrorists. James Crabtree, Executive Director of the International Institute for Strategic Studies-Asia, said ASEAN was struggling to cope with internal divisions over Myanmar and other issues. One Western diplomat who will attend the meeting said that while the bloc may try to make the Myanmar peace plan more action-oriented, "little progress is expected". G20 leaders are meeting in Bali next week and the Asia-Pacific Economic Cooperation (APEC) forum will take place in Bangkok after that.
Indian billionaire Gautam Adani’s conglomerate had just launched a hostile bid to take over an influential broadcaster in the capital. Rupak De Chowdhuri/ReutersMuch of his fortune is tied up in the sprawling Adani Group, which he founded over 30 years ago. Most of the companies in the Adani empire are held closely by the billionaire, his family and associated firms, including nearly 75% stakes in AEL, Adani Power, and Adani Transmissions. Yet, the Adani Group has continued to raise billions from Indian and foreign banks. CreditSights, a research firm owned by Fitch Group, in August published a report about Adani Group titled “Deeply Overleveraged” in which it expressed strong concerns.
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