Adani, who has denied both charges, has vowed to fight on. He said at an event after the US allegations that the firm is committed to "world-class regulatory compliance" and that each attack against the company "only makes us stronger".
The charges are likely to weigh on the groupâand its share priceâheading into the new year. Adani's fortune peaked at $122.3 billion in June after he'd worked to bolster finances following Hindenburg's attack. Those gains have now evaporated after the US allegations, and he's now worth $82.1 billion, according to the Bloomberg Billionaires Index.
The wealth of Ambani, Asia's richest man, has also taken a tumble, if perhaps in a less dramatic and public way. It peaked at about $120.8 billion in July. But his fortune now stands at $96.7 billion as of December 13.
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IIT-Madras to offer fine arts, culture courses
In a first for Indian Institutes of Technology (IITs), IIT-Madras on Tuesday said it would offer two supernumerary seats in each undergraduate programme to students who have achieved excellence in fine arts and culture, starting from the upcoming academic session.
The world's busiest airline routes in 2024 are largely in Asia
Leisure continues to outshine corporate trips
Not even 2% work-linked higher education courses yet: Report
EVEN AS ASSORTED government schemes are a national skill mission aiming to make India's workforce more employable, the latest TeamLease EdTech survey has revealed that barely 2% of the higher education institutions (HEIs) in the country are offering degrees that are work-linked.
SME IPOs fetch rich returns in Dec
THE SME IPO market continues to see heightened interest and is delivering multibagger returns despite being under the lens of the markets regulator.
KYC masking to go live on Jan 20
IN A MOVE that provides relief to financial institutions, the Central KYC Records Registry has extended the deadline for masking Know Your Customer (KYC) documents to January 20 next year.
Indian firms use euro, yen swaps
MOREOVER, EXPECTATIONS OF dollar strengthening further have also prompted Indian firms to opt for cross-currency pairs other than USD-INR.
EPFO weighs higher equity investments
IN FY23, the interest rate was fixed at 8.15% and 8.10% in FY22.
China plans record budget deficit of 4% of GDP in 2025
New plan compares with an initial target of 3% of 2024 GDP
Trudeau govt adrift after FM quits, Trump tariffs loom
THE ABRUPT RESIGNATION of Canada's finance minister leaves the government adrift less than a month before the inauguration of a new US administration that could impose crippling sanctions on Canadian exports.
Markets slump over 1%
ALL MAJOR ASIAN markets ended in the red on Tuesday, a day ahead of the US Federal Reserve's meeting outcome.
