Sorry, I can’t attend G20 summit in India; will send foreign minister: Putin tells PM Modi

News Network
August 29, 2023

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New Delhi, Aug 29: Russian President Vladimir Putin has told Indian Prime Minister Narendra Modi over a phone call that he will not attend the G20 Summit.

India is hosting this year's summit, which will be held in capital Delhi from 9-10 September.

Mr Putin told Mr Modi that Foreign Minister Sergei Lavrov would attend the summit on his behalf.

The two leaders also discussed several "regional and global issues of mutual concern", India said in a statement.

A Russian government spokesperson had said last week that Mr Putin would not attend the summit as he had a "busy schedule".

The G20 includes the world's 19 wealthiest countries plus the European Union. India currently holds the G20 presidency, which rotates annually between members.

Russia's invasion of Ukraine is expected to be a talking point at the summit in Delhi, where world leaders including US President Joe Biden and UK Prime Minister Rishi Sunak will be present.

Last week, Mr Putin attended the Brics summit - Brics is an acronym for Brazil, Russia, India, China and South Africa - held in Johannesburg by video link to avoid the risk of possible arrest by the International Criminal Court (ICC). The ICC has issued a warrant against Mr Putin, accusing him of war crimes in Ukraine.

In its statement on Monday, India said that Mr Modi expressed "an understanding for Russia's decision" and thanked Mr Putin for supporting Delhi's initiatives while it held the G20 presidency.

Russia's statement did not mention Mr Putin's absence at the G20 summit but said that the two countries had agreed to "closely collaborate in the context of Russia's BRICS chairmanship", which starts on 1 January next year.

"The discussion also touched on current issues of Russian-Indian relations, which are developing progressively in the spirit of a specially privileged strategic partnership," it added.

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News Network
November 19,2024

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News Network
November 21,2024

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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.

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News Network
November 15,2024

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Union minister Amit Shah on Friday, November 15, said PM Narendra Modi will amend the Waqf Act despite opposition from leaders like Uddhav Thackeray and Sharad Pawar.

"Modi ji wants to change the Waqf Board law, but Uddhav ji, Sharad Pawar and Supriya Sule are opposing it," Shah said, addressing a rally at Umarkhed in Maharashtra's Yavatmal district.

"Uddhav ji, listen carefully, you all can protest as much as you want, but Modi ji will amend the Waqf Act," he said. Shah said there are two camps in the November 20 Maharashtra assembly polls, one of 'Pandavas' represented by the BJP-led Mahayuti and the other of 'Kauravas' represented by Maha Vikas Aghadi.

"Uddhav Thackeray claims that his Shiv Sena is the real one. Can the real Shiv Sena go against renaming Aurangabad to Sambhajinagar? Can the real Shiv Sena go against renaming Ahmednagar to Ahilyanagar? The real Shiv Sena stands with the BJP," Shah said.

"Rahul Baba used to say that his government would credit money in the accounts of the people instantly. You were unable to fulfil your promises in Himachal, Karnataka, and Telangana," he said.

Shah said the Mahayuti alliance has promised that women will get Rs 2,100 per month under the Ladki Bahin Yojana. "Kashmir is an integral part of India and no power in the world can snatch it away from us," Shah said.

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