Recent Posts

Billionaire Adani nears acquisition of GMR power plant

Bloomberg Indian billionaire Gautam Adani’s energy unit is nearing a deal to acquire a 1,370-megawatt thermal power plant backed by GMR Infrastructure Ltd., according to people with knowledge of the matter. Adani Power Ltd. will take over about 38 billion rupees ($543 million) of loans out of a total of 58 billion rupees that GMR Chhattisgarh Energy Ltd. owes, said ...

Read More »

Nirav Modi-linked US firms tied to India fraud

Bloomberg Three bankrupt US companies with links to Indian billionaire Nirav Modi were “directly involved” in transactions related to the alleged multibillion-dollar international fraud for which Modi has been charged by Indian authorities, according to an investigation by the court-appointed examiner. The examiner, John J. Carney, found “substantial evidence” that senior officers and directors at Firestar Diamond Inc., A. Jaffe ...

Read More »

Floods in India’s top buyer may hit wedding gold demand

Bloomberg Jewelers in India’s biggest gold-buying state expect sales to drop during the peak festival and wedding season after heavy rains and floods caused more than $3 billion of damage. The usual spend of 200 grams to 1 kilogram of gold per wedding in Kerala may drop 50 percent in the next month, B. Govindan, president of the All Kerala ...

Read More »
Send this to a friend