Rape allegation against BJP’s Shahnawaz Hussain: SC stays operation of HC order on lodging FIR

Shares of Adani Group companies lost about $28 billion in market value in morning trade on Thursday after US prosecutors charged the billionaire chairman of the Indian conglomerate in an alleged bribery and fraud scheme.

Gautam Adani's flagship company Adani Enterprises tumbled 23 per cent, while Adani Ports, Adani Total Gas, Adani Green, Adani Power, Adani Wilmar and Adani Energy Solutions, ACC , Ambuja Cements and NDTV fell between 20 per cent and 90 per cent.

Adani group's 10 listed stocks had a total market capitalisation of about $141 billion at 0534 GMT, compared to $169.08 billion on Tuesday.

US authorities said Adani and seven other defendants, including his nephew Sagar Adani, agreed to pay about $265 million in bribes to Indian government officials to obtain contracts expected to yield $2 billion of profit over 20 years, and develop India's largest solar power plant project.

Adani Green in a statement on Thursday said the US Justice Department had issued a criminal indictment against board members Gautam Adani and Sagar Adani and the Securities and Exchange Commission had issued a civil complaint against them.

The US Justice Department also included Adani Green board member Vneet Jaain in the criminal indictment, it said.

Adani Green's units had decided not to proceed with the proposed US dollar denominated bond offerings due to developments, it added.

"Investors will shy away from Adani Group stocks ... and that's what this sharp selling is signifying," said Saurabh Jain, assistant vice president of retail equities research at SMC Global Securities.

"This could hurt the credibility of the group and maybe borrowing costs will rise," he said.

The indictment comes nearly two years after US shortseller Hindenburg Research alleged that Adani had improperly used tax havens and was involved in stock manipulation, allegations the conglomerate denied.

Also in early Asian trading on Thursday, Adani dollar bonds slumped, with prices down 3c-5c on bonds for Adani Ports and Special Economic Zone. The falls were the largest since the Adani Group came under a short-seller attack in February 2023.

Mangaluru: The iconic Old DC office, a building steeped in 400 years of history, will be the centerpiece of the Heritage Week celebrations in the city. Once the administrative hub of the erstwhile Canara district during the British era, the building now serves as a symbol of Mangaluru’s rich heritage and cultural significance.

Historic Significance

Initially built during the rule of the Bangas under the Vijayanagara Empire, the structure was later converted into the collector’s office. Following an agreement between Tipu Sultan and the British in 1784, the building came under Tipu’s possession until his death. Subsequently, Major Sir Thomas Munro used it as the office for the first district collector.

The building has also seen historical milestones, including the participation of 88 individuals from the district in World War I (1914–1919), as recorded on a commemorative plaque on its exterior.

Heritage Festival: Echoes

To celebrate the city’s history and tourism potential, the Dakshina Kannada district administration is organizing "Echoes," a heritage festival on November 30 and December 1 at the Old DC office premises. The event will feature:

• A heritage exhibition (open from 10 AM to 6 PM).
• An art contest for school students.
• Guided mini heritage walks open to all.
• An urban sketching contest for college students.
• A panel discussion on sustainability, followed by a prize distribution ceremony.
• A musical evening featuring Sur Safar, a fusion band.

A Gateway to Tourism

The festival aims to draw attention to Mangaluru’s untapped tourism potential by blending art, history, and culture. It invites residents and visitors to rediscover the region’s legacy while fostering a sense of pride in its historical landmarks.

This initiative not only commemorates the past but also looks to inspire future efforts in heritage preservation and sustainable tourism.

The extremist Israeli finance minister has called for the occupation of the Gaza Strip and halving the population of the Palestinian territory that is reeling from almost 14 months of genocide.  

Bezalel Smotrich, who has a history of racist statements against Palestinians, made the controversial remarks during a conference of the Yesha Council settler group on Monday.

“We can occupy Gaza and thin the population by half within two years,” through encouraging the so-called “voluntary emigration," he said.

The racist minister also urged the Tel Aviv regime to use its favorable ties with the incoming administration of US President-elect Donald Trump to implement the plan.

“Occupying Gaza is not a dirty word,” he further claimed.

Once the success of the “voluntary emigration" is proven in the besieged Gaza Strip, it can be replicated in the occupied West Bank, he added.

Last month, Smotrich urged the full annexation of the West Bank and Gaza, asserting that Israel should unequivocally declare there would be no Palestinian state.

Israel launched its brutal Gaza onslaught on October 7, 2023, after the Palestinian Hamas resistance group carried out a historic operation against the usurping entity in retaliation for its intensified atrocities against the Palestinian people.

However, nearly 14 months into the offensive, the Tel Aviv regime has failed to achieve its declared objectives of finding captives held in Gaza and eliminating Hamas.

So far, the occupying regime has killed at least 44,235 Palestinians, mostly women and children, and injured 104,638 others, in Gaza. 

It has been committing the war crimes of starvation and of intentionally directing attacks against the civilian population in the besieged territory.