
Mr Adani, who last year became the world’s second-richest man with a US$147 billion fortune, has seen his own personal wealth plummet by around US$57 billion since Hindenburg accused his companies of fraud to inflate revenue and stock prices. After drawing money from the Middle East and other Indian billionaires to shore up a US$2.4 billion share sale, he then abruptly pulled it late Wednesday to protect investors.
The tumult has become a national issue with lawmakers disrupting Parliament to demand answers from Prime Minister Narendra Modi’s government, given how closely Mr Adani’s interests from ports to energy are intertwined with the nation’s growth plans.
The big worry looming over the conglomerate is that lenders and other counterparties will start to pare their exposure, while contagion fears spread to other parts of the markets.
While Mr Adani’s company has rebutted the claims and the billionaire himself said in a video speech on Thursday that the scrapped equity offering will have no impact on operations, the selloff shows no signs of abating. Flagship Adani Enterprises plunged as much as 30 per cent on Thursday, adding to a 28 per cent tumble in the previous session.
هذه القصة مأخوذة من طبعة February 03, 2023 من The Straits Times.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة February 03, 2023 من The Straits Times.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
Jail and cane for man who preyed on 3 girls, including sister
A 27-year-old serial sex predator who preyed on three girls, including his younger sister, was sentenced to 16 years in jail and 15 strokes of the cane on March 10.
S'pore small but 'far from powerless' in unpredictable world: Seah Kian Peng
Global disruptions in trade, technology and security will impact Singapore, but the Republic is \"far from powerless\" despite its small size, said Speaker of Parliament Seah Kian Peng on March 10.

US markets trailing the world as the aura of America First fades
Investors have a growing list of reasons to look elsewhere as mood sours in the US
Singapore stocks decline as markets across Asia end mixed
• STI falls 0.4%; losers beat gainers 320 to 195 • Frasers L&C Trust tops STI; Hongkong Land comes in last • Hang Seng sheds 1.9% amid China tariffs on US farm goods

Hawkers must operate stalls themselves to prevent subletting: Koh Poh Koon
Hawker centre stallholders have to operate their stalls personally as a measure to prevent subletting, as this keeps barriers to entry low for small businesses and preserves the authenticity of the hawker culture, said Senior Minister of State for Sustainability and the Environment Koh Poh Koon in Parliament on March 10.

PSG The Best We Faced This Term
Robertson says Liverpool have to improve their off-the-ball work and attack to secure quarter-final spot
IN FULL BLOOM
Here are five ways to experience Japan's sakura season in all its beauty

Swiatek with another quick, commanding win
Defending champion Iga Swiatek crushed Dayana Yastremska 6-0, 6-2 and 2023 winner Elena Rybakina powered past Katie Boulter 6-0, 7-5 to reach the fourth round of Indian Wells on March 9 with displays of dominance.
Coffee shop operator, 76, jailed for pushing man, 80, leading to his death
Both men had quarrelled before aggressor pushed victim, who fell and suffered skull fracture
Man who worked with young people at PA jailed for sexually assaulting teenager
A man who previously worked with young people at the People's Association (PA) has been handed a jail sentence of 10 years and six months for sexually assaulting a then 16-year-old boy.