Indian Rupee hits all-time low of 73.34 against US dollar

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.

Aleppo: Dreaded Takfiri-terrorist groups reached Syria’s second city of Aleppo Friday, as they pressed a lightning offensive against forces of the Iranian and Russian-backed government.

The fighting is some of the deadliest in years, with 255 people killed, according to the Syrian Observatory for Human Rights. Most of the dead have been combatants but the toll also includes 24 civilians.

The offensive began on Wednesday, the same day that a fragile ceasefire took effect in neighboring Lebanon between Israel and Iran-backed militant group Hezbollah.

‘Zionist plot’

Iranian Parliament Speaker Mohammad Baqer Qalibaf has vowed to support Syria in its fight against terrorists after the resurgence of Takfiri terrorism in the Arab country. 

“The new movements of Takfiri-terrorist groups are part of the plot of the US and the illegitimate Zionist regime,” Qalibaf said on Friday in a post on his X account.

He urged the neighbors of Syria “to be vigilant and not to fall into their trap.”

“After defeating the Zionist regime, the Islamic Republic of Iran and the axis of resistance will support the Syrian government and people against the new conspiracy like in the past,” Qalibaf stressed.

Captured 50 towns

By Friday, the terrorists had wrested control of more than 50 towns and villages in the north, according to the Britain-based Observatory, in the government’s biggest loss of territory in years.

They then entered western districts of Aleppo, a city of some two million people that was Syria’s pre-war manufacturing hub.

“Hayat Tahrir Al-Sham (HTS) and allied factions... were able to enter the outskirts of the Al-Hamdaniya and New Aleppo neighborhoods... after carrying out twin suicide attacks with two booby-trapped cars,” the war monitor said.

HTS, a dreaded terror alliance led by Al-Qaeda’s former Syria branch, shelled a student residence in the city, killing four civilians, state media reported.

Syrian and Russian warplanes launched intense air strikes on the rebel enclave around Idlib, where the militants are based, carrying out 23 raids, according to the Observatory.

Army reinforcements have arrived in Aleppo, a Syrian security official told AFP, requesting anonymity to discuss sensitive matters.

An army statement said troops had repelled the assault on the city and retaken some positions.

The United Nations Office for the Coordination of Humanitarian Affairs said “more than 14,000 people — nearly half are children — have been displaced” by the violence.

The Israeli military has conducted fresh attacks on Lebanon in violation of a ceasefire agreement with the Hezbollah resistance movement and ramped up its deadly airstrikes on the Gaza Strip.

In a statement posted Thursday on X, the Lebanese army said Israeli occupation forces several times violated the truce deal just after it went into effect, and the following day.

"These breaches included aerial violations and attacks on Lebanese territory using various weapons," it added.

The Israeli military confirmed its Thursday aerial assault on southern Lebanon, adding that its forces had also opened fire towards the people who were driving to their homes in the area.

Earlier, Lebanese media reported that at least two people were wounded after Israeli tank fire hit five towns and some agricultural fields in the country's south.

"The Israeli enemy is attacking those returning to the border villages," Hezbollah lawmaker Hassan Fadlallah said. "There are violations today by Israel, even in this form."

Israel was forced to accept a ceasefire with Hezbollah after suffering heavy losses following more than 14 months of fighting and failing to achieve its goals in its aggression on Lebanon.

The truce agreement, brokered by the United States and France, came into effect before dawn on Wednesday. It will last for 60 days in the hope of reaching a permanent cessation of hostilities.

At least 3,961 people were killed and 16,520 others injured in Israeli attacks on Lebanon.

Hezbollah opened a support front for Palestinians in Gaza only a day after Israel unleashed its war against the besieged territory in October 2023, launching numerous retaliatory attacks against Israeli targets in the occupied territories. 

In a statement that followed the ceasefire, Hezbollah vowed to continue resisting Israel and monitoring the occupation army’s withdrawal from south Lebanon “with [our] hands on the trigger” in defense of Lebanon’s sovereignty.

Hezbollah further empathized that its fighters “remain fully equipped to deal with the aspirations and assaults of the Israeli enemy."

It also reaffirmed its commitment to the Palestinian cause, noting that it will continue the path of resistance with even greater determination.

Israeli strikes on Gaza kill 42

Across the Gaza Strip, at least 42 people were killed in Israeli attacks on Thursday. 

Reports said Israeli forces stepped up their bombardment of Gaza's central areas and tanks pushed deeper into the Palestinian territory’s north and south.

Since October 2023, the Tel Aviv regime has so far killed at least 44,330 Palestinians and injured 104,933 others in its brutal Gaza onslaught.

The head of the UN agency for Palestinian refugees (UNRWA) said at least 70 percent of those killed in Israeli attacks on Gaza were women and children.

Philippe Lazzarini said the ongoing Israeli offensive in the northern edge of Gaza has uprooted 130,000 people over the past seven weeks.