New Delhi: The renewed scrutiny of Gautam Adani in the backdrop of the latest Hindenburg report comes “at an awkward time” as the businessman has “mounted renewed expansion efforts at home and abroad”, says a Financial Times report by correspondent Chris Kay.
A 10 August Hindenburg report has alleged that SEBI chair Madhabi Buch has stakes in an offshore fund structure used by Gautam Adani’s brother, Vinod Adani. It comes after a 2023 Hindenburg report accused Gautam Adani of corporate fraud and a web of offshore funds, with the Supreme Court asking the SEBI to look into the matter. The SEBI has not made its findings on Hindenburg’s Gautam Adani report public, but Buch has denied the allegations against her, Kay reports.
Discussing the fallout of the 2023 Hindenburg report, Kay writes that a meltdown across the Adani Group’s listed companies erased $140bn in market value, and the Opposition in India used it to attack Prime Minister Narendra Modi, accusing him of favouritism to Gautam Adani. After the new report, Congress leader Jairam Ramesh raised questions about “two meetings” between Buch and Gautam Adani in 2022, reports Kay, speculating more scrutiny.
The political upheaval in Bangladesh, ending in the ouster of former Prime Minister Sheikh Hasina, has disrupted Bangladesh-India trade and local businesses in Kolkata, which sees many Bangladeshi tourists, journalist Gurvinder Singh reports for Al Jazeera.
India exports textiles, tea, auto parts, cotton, iron, etc., to Bangladesh and imports garments, leather and leather products. India’s ban on basmati exports and Dhaka’s severe forex shortage had already impacted trade, and dealers of perishables are now worried about delays in transporting items like onion and tamarind, writes Singh. He adds that the footfall in some Kolkata businesses, such as eateries and hotels, which attract Bangladeshi tourists, is also down.
An exporter based in Kolkata, Aditya Manaksia, tells Singh, “I was looking to expand my business there. But all my hopes are dashed due to the political unrest… We can just pray for the situation to turn normal as soon as possible.”
A Global Times report discusses India’s External Affairs Minister S. Jaishankar’s visit to the Maldives in the backdrop of Maldivian President Mohamed Muizzu repatriating Indian military personnel as India’s effort to mend relations with the Maldives and not push it towards China.
Long Xingchun, a professor from the School of International Relations at Sichuan International Studies University, tells the Global Times that China maintains ‘normal relations’ with the Maldives and supports its relations with India. However, India sees China as a competitor and is concerned with the Maldives pivoting towards China, he tells Global Times.
A Wall Street Journal report by journalists Joshua Robinson and Ben Cohen takes a deep dive into the life of Neeraj Chopra, from a farm boy in rural Haryana to a national hero, achieved by mastering the javelin throw, a sport previously overlooked in India.
“By winning gold in Tokyo and now a silver in Paris, India’s Neeraj Chopra has turned himself into one of the most popular athletes in the world’s most populous country,” the report highlights. With these successes, Chopra is now a celebrity in India, and his achievements have inspired a new generation of javelin throwers in India, it suggests.
The BBC reports that Assam has launched an app, Haati (elephant), to help reduce elephant-related fatalities in the state, home to India’s largest elephant population. The app comes in response to the state seeing a rising number of deadly man-elephant encounters, with 1,701 people killed between 2020 and 2024, the report adds.
The app, developed by biodiversity organisation Aaranyak, aims to reduce fatalities by reducing man-elephant conflicts — it will alert people about approaching elephant herds and facilitate compensation requests for affected families. The initiative is crucial as India’s elephant population, estimated at fewer than 50,000 by the World Wildlife Fund, continues to face habitat encroachments and conflict with local communities, according to the BBC report.
Ukraine-Russia war develops, Israel on high alert
Ukrainian officials have indicated that thousands of troops are committed to its incursion into Kursk province on the Russian mainland, while Moscow and Kyiv are trading accusations about a fire at the occupied Zaporizhzhia nuclear power plant. To know more, read The Guardian report.
Amid the threat of escalating conflict after the assassinations of key Hezbollah and Hamas figures, Israel is on high alert while the American and Arab mediators are pushing for a ceasefire deal. For more on this, read The New York Times report.
(Edited by Madhurita Goswami)
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