Adani reduces growth plans in the aftermath of the Hindenburg disaster

Adani
  • Adani Group of India has cut its revenue growth.
  • Hindenburg Research accused the group of stock manipulation and inappropriate exploitation.
  • The Adani Group will now aim for revenue growth of 15% to 20% for at least the next fiscal year.

Adani Group of India has cut its revenue growth objective in half and expects to reduce new capital investment.

Since Jan. 24, when US short-seller Hindenburg Research accused the group of stock manipulation and inappropriate exploitation of offshore tax havens, listed firms controlled by billionaire Gautam Adani have lost more than $100 billion in market value.

The group has denied any misconduct and rejected the allegations.

According to Bloomberg News, the Adani Group will now aim for revenue growth of 15% to 20% for at least the next fiscal year, down from the earlier objective of 40%.

Holding off on investments for as little as three months may save the company up to $3 billion, according to the source, which added that the plans are still in the works.

The Adani Group‘s spokeswoman called the report “baseless, speculative,” but did not elaborate.

The group has also been involved in an inquiry by India’s market regulator into its ties to some of the investors in its canceled $2.5 billion share offering.

According to Reuters, India’s ministry of corporate affairs began a preliminary assessment of the group’s financial statements and other regulatory submissions made over the years earlier this month.

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Women’s T20 World Cup: India defeated Pakistan by seven wickets

Women's T20 World Cup: India defeated Pakistan by seven wickets

India defeated Pakistan by 7 wickets in their Women’s T20 World Cup 2023. It was first match at Newlands Cricket Ground in Johannesburg on Sunday.  Pakistan record a competitive total of 149-4 in the allotted 20 overs. At the Newlands Cricket Ground in this city on Sunday, India defeated Pakistan by a score of 7 … Read more

ICC Women’s T20 World Cup: Fatima Sana excited ahead of clash with India

ICC Women’s T20 World Cup: Fatima Sana excited ahead of clash with India

Fatima Sana is eager for today’s ICC Women’s T20 World Cup. She is eager to play her first T20I match in the World Cup. Bismah Maroof will captain the team for the second time. Fatima Sana, a bowler for Pakistan, is eager for today’s (Sunday) ICC Women’s T20 World Cup match against India. In preparation … Read more

Asian Junior Squash Championship: Pakistan defeated India in Chennai

Asian Junior Squash Championship: Pakistan defeated India in Chennai

Pakistan defeated India to win 21st Asian Junior Team Squash Championship. Hamza Khan defeated Paarth Ambani in the semifinals. Pakistan advanced to semifinals by defeating Hong Kong, Korea, Kuwait, and Sri Lanka. Pakistan defeated India on Sunday at the Indian Squash and Triathlon Academy in Chennai to win the 21st Asian Junior Team Squash Championship. … Read more

ICC Women’s T20 World Cup: Pakistan won toss and decided to bat first against India

ICC Women's T20 World Cup: Pakistan won toss and decided to bat first against India

T20 World Cup match between Pakistan and India on Sunday at Newlands. Pakistan won the toss and elected to bat first. 36-year-old veteran Nida Dar is a crucial player for Pakistan. In the ICC Women’s T20 World Cup match between Pakistan and India on Sunday at Newlands in Cape Town, Pakistan won the toss and … Read more

India planned to rename Valentine’s Day “Cow Hug Day” Here’s how it backfired

India
  • Authorities wanted to rename this Valentine’s Day Cow Hug Day.
  • The move appears to have backfired and been abandoned.
  • It triggered a torrent of internet memes.

Cows have long been revered as a symbol of both the Earth and divinity by India‘s majority Hindu population.

Indeed, the animals are so revered that authorities wanted to rename this Valentine’s Day “Cow Hug Day,” expecting that the move would increase citizens’ “emotional richness” while also striking a blow to local traditions over what is perceived as a western cultural import.

However, the move appears to have backfired and been abandoned after it triggered a torrent of internet memes, cartoons, and jokes about the necessity of consent from TV hosts.

The declaration of February 14 as “Cow Hug Day,” had come in a statement Monday from the Animal Welfare Board of India, which called cows the “backbone of Indian culture and rural economy.”

The cow is “the giver of all, providing riches to humanity” due to its “nourishing nature,” said the agency, a statutory body that advises India’s Ministry of Fisheries, Animal Husbandry, and Dairying.

It stated that the movement to hug cows was part of an effort to promote “Vedic,” or sacred Hindu practices, which had been undermined by Western influence.

Vedic traditions

“Vedic traditions are almost on the verge of extinction due to the progress of (western) culture over time,” the statement said. “The dazzle of western civilization has made our physical culture and heritage almost forgotten.”

However, the plan appears to have been abandoned within a week of the announcement, following days of online scorn and contempt.

For days, media sources have mocked the government’s proposal, releasing satirical drawings of cows fleeing romantic men, while internet users have reveled in posting recordings of violent clashes between beast and man.

An anchor from one of India’s top English-language news networks was even seen on camera attempting to embrace numerous cows, who appeared to reject his attempts.

“Consent is important,” he joked during the segment.

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Nasser Hussain says “India will go from strength to strength in the next decade”

Nasser Hussain says "India will go from strength to strength in the next decade"

Nasser Hussain believes India has potential to grow significantly over next 10 years. Especially with the emergence of the Women’s Premier League. The Women’s T20 World Cup is scheduled to take place in South Africa. Nasser Hussain, a former captain of the England men’s cricket team, believes India has the potential to grow significantly over … Read more

ICC World Test Championship final will take place in june

ICC World Test Championship final

Australia is in first place with a percentage of 75.56.  India at 58.93 with second position. Dean Elgar is motivated by idea of competing for prizes in such historic format. The International Cricket Council announced on Wednesday that the ICC World Test Championship final for the 2021–23 cycle will take place from June 7 to … Read more

US sources insist Chinese balloon was military in nature

US
  • The US intelligence officials say the balloon was employed for espionage by the Chinese military.
  • The US briefed 40 friendly countries on the alleged espionage.
  • Chinese officials have already denied employing surveillance balloons.

According to US intelligence officials, the balloon shot down on Saturday was employed for espionage by the Chinese military.

According to unnamed officials, such balloons were deployed to collect intelligence on strategically important countries.

Among them were Japan, India, Taiwan, and the Philippines.

Chinese officials have already denied employing surveillance balloons.

According to the Washington Post, the US intelligence agency believes that some of the balloons were launched from Hainan, a southern Chinese island with a naval military facility.

Quoting an unnamed senior Biden administration official, sources confirmed that the US intelligence community believed the balloon was part, in its words, of an “aerial surveillance program run by the People’s Liberation Army out of Hainan”.

A senior Biden administration official confirmed to sources that America briefed 40 friendly countries on the alleged espionage on Monday.

Deputy Secretary of State Wendy Sherman also announced in the meeting that one balloon had circumnavigated the globe in 2019, passing over Hawaii and Florida.

According to a Biden administration official, the Gang of Eight, a group of US Congressional leaders in charge of supervising national intelligence affairs, would be briefed on the development on Wednesday, and Congress will be updated on Thursday.

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Adani shares fall once more as the Indian opposition organizes protests

Adani
  • Rallies were held in New Delhi and Mumbai by the main opposition Congress party.
  • Close relations with Prime Minister Narendra Modi, have resulted in him winning contracts unfairly.
  • The opposition asked for a “serious probe.”

MUMBAI: Investors sold more Adani stock on Monday as India’s opposition demanded a complete investigation into claims of serious accounting fraud at the country’s largest company.

Since the charges were leveled by short-seller US investment organization Hindenburg Research on January 24, the group owned by entrepreneur Gautam Adani has lost about $120 billion in value.

Trading in Adani Total Gas, in which TotalEnergies holds 37.4%, and Adani Power has been suspended again after the stocks plunged 5%.

Shares of Adani Enterprises, which had soared more than 1,000% in five years prior to the panic, were down 2.0% after falling over 10% in tumultuous early trade.

Concerns have been raised about the group’s capacity to acquire new funds to pay down its obligations after it halted a share sale last week and apparently also a bond issue.

On Monday, rallies were held in New Delhi and Mumbai by the main opposition Congress party, which has asked for a “serious probe” by the central bank and regulator.

According to the party, Gautam Adani’s close relations with Prime Minister Narendra Modi, who is also from Gujarat, have resulted in him winning contracts unfairly and avoiding necessary monitoring.

Indian regulators, according to Commerce Minister Piyush Goyal, “are very competent and our financial markets are amongst the most respected and well-regulated markets in the world.”

Finance Minister Nirmala Sitharaman stated on Sunday that Adani had also won contracts in Indian states not governed by Modi’s Bharatiya Janata Party (BJP).

“Any project under Prime Minister Modi goes through the open tender process (of) global tendering,” Sitharaman told

The company has rejected the claims made by Hindenburg and last week Adani, 60, insisted that the “fundamentals of our company are very strong, our balance sheet is healthy and assets robust”.

His personal fortune has more than halved, dropping from third to 22nd on the Forbes real-time wealthy list on Monday, with a fortune of $58.5 billion, down from $127.0 billion.

India´s securities regulator SEBI said Saturday that it was “committed to market integrity” and without naming, Adani said it always properly examines all “specific entity-related matters”.

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Mass arrests of Indian women protesting against child marriage

child marriage

Hundreds of women in Assam are protesting against underage marriage. The government has issued financial aid to affected women. But opposition leaders have criticized the crackdown as “whimsical” and “public relations”. In response to their male relatives being detained as part of a campaign against underage marriage, hundreds of women in the Assam state of … Read more

Asia Cup 2023: “If India doesn’t want to come, we don’t care” says Miandad

Asia Cup 2023: “If India doesn't want to come, we don't care" says Miandad

Jay Shah announced that BCCI will insist on a neutral location for the competition. Miandad declared that if India didn’t want to travel Pakistan, they could go to hell. ACC’s Executive Board meeting will decide where Asia Cup 2023 will take place. Javed Miandad, a legendary batsman for Pakistan, took aim at the Indian cricket … Read more

India Stands In Solidarity With Turkey, Says PM Modi

Modi
  • The total death toll in Turkey and Syria at 568.
  • India stands in solidarity with the people of Turkey.
  • India is ready to provide all possible assistance.

New Delhi: Narendra Modi stated on Monday that India stands in solidarity with the people of Turkey, while also expressing condolences to those who lost close ones in the earthquake. According to a Turkish official, the death toll from the earthquake has risen to 284, putting the total death toll in Turkey and Syria at 568.

Narendra Modi tweeted, “India was ready to offer all possible assistance to cope with the tragedy.”

“Anguished by the loss of lives and damage of property due to the Earthquake in Turkey. Condolences to the bereaved families. May the injured recover soon. India stands in solidarity with the people of Turkey and is ready to offer all possible assistance to cope with this tragedy”, Modi tweeted.

 

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India and the United States discuss about Narendra Modi’s White House visit

Narendra
  • US President Joe Biden wants to strengthen connections with India.
  • The Biden administration is in talks with Indian officials over a possible White House visit by PM Modi.
  • According to the sources, no dates have been set.

Washington: The Biden administration is in talks with Indian officials over a possible White House visit by Prime Minister Narendra Modi later this year, according to a U.S. official aware of the discussions and another person briefed on the matter.

US President Joe Biden wants to strengthen connections with the world’s largest democracy as part of his quest to win what he sees as a struggle between free and autocratic civilizations, particularly China.

The Indian Embassy in Washington and the White House both declined to comment.

According to the sources, no dates have been set. Indian National Security Adviser Ajit Doval met with his US counterpart, Jake Sullivan, and Secretary of State Antony Blinken in Washington this week to discuss a prospective White House visit.

During the visit, the US and India announced cooperation to strengthen ties in the areas of military equipment, semiconductors, and artificial intelligence.

New Delhi has irritated Washington by taking part in military drills with Russia and expanding purchases of the country’s crude oil, which is a major source of funding for the Ukrainian war. Washington has pressed New Delhi to do more to penalise Russia for the invasion of Ukraine.

On Wednesday, India recommended increasing military spending for the coming year by 13% to $72.6 billion in order to deploy additional fighter jets and roads along its contentious border with China. India and China share a contentious 2,100-mile (3,400-kilometer) border since the 1950s.

The US president is likely to travel to New Delhi in September for the G20 summit hosted by India.

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Gaurav Taneja got emotional and glad to help India

Gaurav Taneja
  • YouTuber created history by flying into US airspace and sketching the largest map of India.
  • He claims the flight lasted around three hours and covered about 350 kilometres.
  • The 36-year-homage old’s has been tremendously positive, with messages of congratulations.

Gaurav Taneja got emotional and was glad to help India. The 74th Republic Day of India was celebrated with zeal throughout the country, with the Tricolour flying high. On the same day, YouTuber Gaurav Taneja created history by flying into US airspace and sketching the largest map of India ever produced.

Taneja, an engineer-turned-pilot, said he wanted to pay special tribute to India on this historic day.

He tells us on a call from Florida, “Flying is my passion. I gave up engineering for a career in aviation. I wanted to pay a special tribute to my country. And what better day [to do so] than on the day when the Constitution came into force.”

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Indian journalist Siddique Kappan released from jail after 2 years

Siddique Kappan

Siddique Kappan was detained in October 2020. He was travelling to cover an alleged rape by four men from an upper caste. India has dropped eight places in the Reporters Without Borders World Press Freedom Index. Siddique Kappan, an Indian journalist who was detained on en route to cover an alleged rape, was freed from … Read more

Pakistan defeated India 12-1 in a friendly baseball match

Pakistan defeated India 12-1 in a friendly baseball match

Pakistan defeated India 12-1 in a friendly baseball match in Islamabad on Thursday. Zakir Zakir, Waseem and Shehzad scored two runs each for Pakistan. The match was played after West Asia Cup, which Pakistan won by beating Palestine 11-3 in final. On Thursday in Islamabad, Pakistan defeated India in a baseball game in a friendly … Read more

US and India to increase defense and technological collaboration

US
  • The United States and India are taking steps to improve their defense partnership.
  • The US and Indian forces will work to improve maritime security.
  • Washington and New Delhi also agreed to expand their space collaboration.

The latest indication of collaboration between the two nations US and India in the face of a more aggressive China was the announcement by officials on Tuesday that the United States and India are taking steps to improve their defense partnership.

The proposals, which include increased cooperation on military-related businesses and operational coordination in the Indo-Pacific, were developed during two days of talks between the government and industry representatives from the two countries in Washington.

According to a White House information sheet, collaboration on developing jet engines and military weapons technologies is crucial among them. In particular, it stated that the US government will try to hasten the evaluation of a request made by US company General Electric to produce jet engines in India for use in indigenous Indian aircraft.

According to the information sheet, the US and Indian forces will work to improve maritime security as well as intelligence, surveillance, and reconnaissance capabilities.

US Deputy Secretary of Defense Kathleen Hicks told Indian National Security Adviser Ajit Doval that “building alliances and partnerships are a top priority” for the Pentagon, in what she said was “the region’s increasingly contested strategic environment,” according to a Defense Department statement.

Hicks said building the partnerships was a major objective of the US’ 2022 National Defense Strategy, which calls China a “growing multi-domain threat.”

While the United States has witnessed China‘s military buildup in places near Taiwan and major US ally Japan, India’s forces have battled with Chinese troops along the Line of Actual Control, the ill-defined frontier between the two countries high in the Himalayas.

Technological collaboration

The United States and India, together with Japan and Australia, are members of the Quadrilateral Security Dialogue, also known as the Quad, an informal security forum founded in the early 2000s. It has become more active in recent years as part of efforts to oppose China’s Indo-Pacific reach and territorial claims.

US President Joe Biden and Indian Prime Minister Narendra Modi inaugurated the US-India collaboration on Critical and Emerging Technology on the margins of a Quad conference in Tokyo last May. (iCET).

The sessions this week were the first under the initiative, and they brought together dozens of government officials, CEOs from the private sector, and leading academics from both nations.

Aside from defense technologies, Washington and New Delhi plan to “increase international collaboration in a variety of sectors — including artificial intelligence, quantum technologies, and enhanced wireless,” according to a White House information sheet.

The commitment to grow the semiconductor sector in India, which has the educated and qualified people needed to become a major participant in making those crucial components, was a major industrial component of the conference.

Furthermore, the two countries agreed to collaborate on the development of next-generation telecoms in India, including 5G and 6G sophisticated cell phone technology.

Washington and New Delhi also agreed to expand their space collaboration, including aiding India’s astronaut development, commercial space sector, and role in planetary defense.

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Pakistan defeated Sri Lanka to advance West Asia Baseball Cup

Asia Baseball Cup

Pakistan will face Palestine in the final of the 15th West Asia Baseball Cup. Pakistan beat Sri Lanka 16-1, while Palestine defeated Bangladesh 14-0. The semi-finals were originally slated for Monday. Pakistan defeated the defending winners Sri Lanka to advance to Tuesday’s final of the 15th West Asia Baseball Cup in Islamabad against Palestine. The … Read more

SECP for effective implementation of Motor Third Party Liability Insurance

SECP

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has formed a working group to explore the possibilities and mechanism for effective implementation of “Motor Third Party Liability (TPL) Insurance” in the country, a statement said on Tuesday. The group, comprises industry experts, representatives of the Insurance Association of Pakistan (IAP) and the SECP officials, … Read more

Indian guru sentenced to life in prison in second rape case

Indian guru

Self-proclaimed spiritual guru Asaram has millions of followers. He has ashrams all over the world. He was convicted of raping a 16-year-old girl at his ashram in India. A self-proclaimed spiritual guru from India was given a life term in prison after raping one of his followers. Asaram was convicted of repeatedly assaulting the woman … Read more

Italian passenger “punched and spat” on Vistara flight

Italian passenger

An Italian passenger was restrained to her seat by the crew of an Indian airline. After she allegedly struck one employee and spit on another. Her lawyer denied the allegations, saying it is a “false story”. An Italian passenger was restrained to her seat by the crew of an Indian airline after she allegedly struck … Read more

Adani Group says Hindenburg fraud claim ‘calculated attack on India’

Hindenburg
  • The stock market value of Adani Group was reduced by more than $50 billion.
  • Adani group accused the Hindenburg report.
  • Adani Enterprises prepares to sell $2.5 billion in shares this week.

Gautam Adani‘s firm has offered a detailed reply to claims of malfeasance made by short-seller Hindenburg Research.

Adani Group describes the research as a “planned attack on India” in a 400-page paper.

Later that day, Hindenburg stated that “Adani failed to specifically address 62 of our 88 queries” in the report.

Last week, the stock market value of Adani Group, an Indian conglomerate, was reduced by more than $50 billion ($40.4 billion).

It also stated that it had followed all local regulations and made all required regulatory disclosures.

“All transactions entered into by us with businesses that qualify as related parties’ under Indian laws and accounting standards have been appropriately declared,” Adani Group said in a 413-page statement released late Sunday.

It went on to accuse the Hindenburg report of being designed to allow the US-based short seller to make profits without providing evidence.

“This is fraught with conflict of interest and is meant simply to establish a phony market in securities to allow Hindenburg, an admitted short seller, to earn significant financial gain through illegitimate means at the expense of innumerable investors,” the statement continued.

The term “short-selling” refers to betting against a company’s share price in the belief that it would fall.

Hindenburg response

In response, Hindenburg said: “To be clear, we believe India is a vibrant democracy and an emerging superpower with an exciting future.”

“We also believe India’s future is being held back by the Adani Group, which has draped itself in the Indian flag while systematically looting the nation.”

It comes as Adani Group’s flagship firm, Adani Enterprises, prepares to sell $2.5 billion in shares this week.

Hindenburg issued research this week that questioned the Adani Group’s ownership of firms in offshore tax havens such as Mauritius and the Caribbean.

It also said Adani companies had “significant debt” which put the entire group on a “precarious financial standing”.

However, Adani Group announced on Thursday that it was considering “remedial and punitive measures” against Hindenburg Research in the United States and India.

Adani stated that it has always complied with all laws.

Also on Thursday, Hindenburg responded to Adani’s comments, claiming the corporation had not addressed “a single substantive problem we have presented”.

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One pilot died after two Indian Air Force fighter jets crashed

Indian Air Force fighter jets

Two Indian Air Force fighter jets collided in midair and crashed in central India. The incident resulted in the death of one of the pilots. Both aircraft had taken off from the Madhya Pradesh air base known as Gwailor. Two Indian Air Force fighter jets collided in midair and crashed in central India, killing one … Read more

Two Indian air force jets crash, one pilot died

Indian air force
  • The plane was on a routine operational flight training mission.
  • The accident occurred near the town of Gwalior in the state of MP.
  • The air force did not specify the type of aircraft involved.

According to the Indian Air Force, Two Indian Air Force fighter jets – a Sukhoi Su-30 and a Mirage 2000 – crashed during a training exercise earlier today, officials said on Saturday, resulting in the death of one pilot. While one aircraft crashed in Morena in Madhya Pradesh, the other is believed to have gone down 100 km away in Rajasthan’s Bharatpur.

“The plane was on a routine operational flight training mission. One of the three pilots involved died as a result of his injuries. An investigation has been launched to determine the cause of the accident “The air force issued a statement.

According to the report, the accident occurred near the town of Gwalior in the state of Madhya Pradesh.

Officials previously stated that one of the planes crashed in Madhya Pradesh and the other in the neighboring state of Rajasthan.

The air force did not specify the type of aircraft involved, but media reports said it was a Sukhoi-30 and a Mirage 2000.

“IAF court of inquiry has been launched to establish whether there was a mid-air collision or not. The Su-30 had two pilots while Mirage 2000 had one pilot during the crash. Initial reports suggest two pilots are safe while an IAF chopper reaching the location of the third pilot soon,” sources said.

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England, India to face in inaugural Under-19 Women’s T20 World Cup

India England

England and India will meet in the final of the inaugural Under-19 Women’s T20 World Cup. England defeated Australia by three runs in a low-scoring thriller in Potchefstroom. India beat New Zealand by eight wickets in the first semi-final. The advancement of India and England to the final of the inaugural Under-19 Women’s T20 World … Read more

Pakistani girl arrested after living illegally in India

Pakistani girl

Iqra Jiwani arrived in India illegally through the Nepal border She had met an Indian man through an online gaming app Police arrested the Pakistani girl and took her into custody ISLAMABAD: The parents of a Pakistani girl who was arrested in India after allegedly entering the country illegally have sought the return of their … Read more

India allows introduction of dozen South African cheetahs

South African cheetahs

India and South Africa agree to send dozens of cheetahs back to India. The aim is to restore the role of the cheetah within India. Cheetahs were declared extinct in India in 1952 due to overhunting. A deal has been made between South Africa and India to return dozens more South African cheetahs to the … Read more