The United States Securities and Exchange Commission (SEC) has accused Gautam Adani of offering bribes to secure solar power procurement deals, particularly through discussions with Andhra Pradesh Chief Minister Jagan Mohan Reddy in August 2021. These claims, part of the SEC’s court filings, allege Adani sought to address the state’s hesitancy to finalize agreements
North Korean leader Kim Jong Un has accused the United States of escalating tensions on the Korean peninsula to unprecedented levels, claiming the region faces the gravest risk of nuclear war in history. His remarks were delivered during a military exhibition in Pyongyang on Thursday, as reported by state media outlet KCNA. “Unchanging Aggression” From […]
Indian billionaire Gautam Adani has been charged in the United States for his alleged involvement in a $250 million bribery scheme related to a solar project, marking a significant legal challenge for the industrial magnate. Bribery Allegations in Solar Energy The US Department of Justice (DOJ) has accused Adani of orchestrating a plot to bribe […]
Tax relief announced for India’s middle class by the government has been overshadowed by the persistent challenge of rising inflation. Despite a hike in the tax exemption limit, middle-income families are finding it difficult to offset the increased cost of living, particularly in key areas like food, healthcare, and education. Exemption Limit Hiked, But Inflation […]
India’s petroleum imports climbed 7.7% year-on-year in the first seven months of FY25, reaching 147.24 million tonnes, according to recent government data. The increase comes as the country grapples with a decline in domestic crude oil production, which has dropped by 0.9% compared to the previous year. Rising Energy Demands and Declining Output From April […]
State Bank of India (SBI), the country’s largest public sector lender, is set to open 500 new branches by the end of the financial year 2025, Finance Minister Nirmala Sitharaman announced during a recent address. The expansion will bolster SBI’s already extensive network, which currently stands at approximately 22,500 branches across India. Strengthening Financial
The Ministry of Electronics and IT has announced that Tata Semiconductor Assembly and Test Pvt Ltd’s Rs 27,000 crore semiconductor manufacturing plant in Morigaon, Assam, is on track to be completed by mid-2025. The facility is expected to revolutionize India’s semiconductor ecosystem with its ability to produce up to 48 million chips daily, leveraging advanced […]
MediaTek, a leading global semiconductor company, has announced plans to source chips from India for worldwide distribution. In an exclusive interview with Business Standard, Finbarr Moynihan, MediaTek’s Vice President for Corporate Marketing, highlighted India’s growing role in the company’s global supply chain and its ambition to leverage the country’s expanding
India’s merchandise trade deficit widened to $27.14 billion in October, up from $20.8 billion in September, as imports grew at a faster rate than exports. Data released on November 14 highlights the sharp sequential increase in imports, which outpaced the growth in exports. While merchandise exports saw a robust year-on-year increase of 17.23%, amounting to […]
For the first time, top electronics companies in India have witnessed a decline in imports, driven by the increasing adoption of local manufacturing under the government’s ‘Make in India’ initiative. Leading brands, including Samsung, Xiaomi, and Apple, are reducing their dependency on imports, sourcing more components and assembling devices within the country.