T20 World Cup in UAE and Oman from Oct 17 to Nov 14

News Network

June 29, 2021

New Delhi, June 29: This year's T20 World Cup, which has been moved to the UAE and Oman from India due to the Covid-19 pandemic, will be played from October 17 to November 14, the International Cricket Council (ICC) announced on Tuesday.

The ICC statement came a day after BCCI intimated the governing body that the event can be moved out of India.

"The BCCI will remain the hosts of the event, which will now be held in Dubai International Stadium, the Sheikh Zayed Stadium in Abu Dhabi, the Sharjah Stadium, and the Oman Cricket Academy Ground, from 17 October to 14 November 2021," the ICC stated.

The first round of the tournament, comprising the eight qualifying teams, will now be split between Oman and UAE.

Four of these teams will then progress to the Super 12s round where they will join the eight automatic qualifiers.

The upcoming edition will be the first men's T20 World Cup played since 2016, when West Indies beat England in the final in India.

The eight teams competing in the preliminary stage are Bangladesh, Sri Lanka, Ireland, Netherlands, Scotland, Namibia, Oman and Papua New Guinea, before the play-off stage and the Final on November 14.

"Our priority is to deliver the ICC Men’s T20 World Cup 2021 safely, in full and in its current window," said acting ICC CEO Geoff Allardice.

"...the decision gives us the certainty we need to stage the event in a country that is a proven international host of multi-team events in a bio-secure environment.

"We will work closely with the BCCI, the Emirates Cricket Board and Oman Cricket to ensure fans can enjoy a wonderful celebration of cricket.”

BCCI president Sourav Ganguly added: "We would have been happier hosting it in India but considering the uncertainty due to the Covid-19 situation and the importance of a world championship, the BCCI will now continue to host this tournament in UAE and Oman."

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Adani Group in Crisis: $30 Billion Wiped Out after US Bribery and Fraud Charges Emerge

News Network

November 21,2024

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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