Sri Lanka should be vigilant about the Adani power project in the island, experts said, after Federal prosecutors in New York indicted Group Chairman Gautam Adani and seven others on multiple counts of fraud. Sri Lanka has often seen cases of significant corruption in the country being exposed in other jurisdictions, according to Nishan De Mel, Executive Director of Verité Research, a Colombo-based think tank. He referred to the allegations of bribery in Sri Lankan Airlines’ purchase of aircraft from Airbus, which surfaced in a United Kingdom-based investigation a few years ago, and to the Pandora Papers that threw up names of local politicians and businessmen. “It is very important for Sri Lanka to redouble its efforts against corruption, to ensure that we are protected from corrupt deals,” he told The Hindu. After news on the alleged bribery scheme of the Adani Group surfaced on Thursday, many citizens and activists in Sri Lanka took to social media and called for greater scrutiny of the Group’s power project on the island. President Anura Kumara Dissanayake, who won the Presidency this September, and his National People’s Power [NPP] alliance, which secured a historic, two-thirds majority in the November 14 general election, have pledged to root out corruption. Days before his election win, Mr. Dissanayake vowed to cancel the “corrupt Adani deal” if his government came to power. Subsequently, Foreign Minister and Cabinet spokesperson of the interim administration said the government would “review” the project after the Parliamentary polls. The International Monetary Fund, too, in its ongoing programme with Sri Lanka, has underscored the need to arrest “corruption vulnerabilities”. Controversial deal Adani Green Energy is investing $442 million in a wind power project in Mannar and Pooneryn in northern Sri Lanka. From the time the former Gotabaya Rajapaksa government roped in the firm in 2022, the project has remained controversial. The main political opposition accused the conglomerate of “backdoor entry”, in the absence of an open call for tenders. The same year, a top Ceylon Electricity Board (CEB) official told a Parliamentary panel that the project was given to the Adani Group after Indian Prime Minister Narendra Modi “pressured” President Gotabaya Rajapaksa. The official subsequently resigned, after withdrawing his original statement. Regardless, the Ranil Wickremesinghe administration went ahead with the project, amid questions from corruption watchdogs. When the Adani Group came under the global spotlight in early 2023, and its stocks plummeted in the wake of U.S. short seller Hindenburg accusing it of pulling the “largest con in corporate history”, then Foreign Minister of Sri Lanka Ali Sabry said the Wickremesinghe administration was “very, very confident” of the future of the project, which it saw as a “government-to-government” deal with India. Earlier this year, environmentalists and Mannar residents moved Sri Lanka’s Supreme Court, challenging the project on grounds of potential environmental impact and “lack of transparency”. The case was taken up by a five-member Bench and the next hearing is scheduled on March 18 and 19, 2025, according to sources familiar with the proceedings. The renewable energy project is one of two projects that the Adani Group is executing in Sri Lanka. Its other major investment is the Adani Ports-led container terminal project in Colombo. In November 2023, the U.S. International Development Finance Corporation (DFC) announced a $553-million investment in the project, a $700-million joint venture among Adani Ports, Sri Lanka Ports Authority (SLPA), and Sri Lankan conglomerate John Keells Holdings. --AgenciesAnthem Blue Cross Blue Shield reverses decision to put a time limit on anesthesia
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The vote counting for the high-stakes Palakkad Assembly by-election begins on Saturday, and all eyes are on the results. The bypoll has been one of the most fiercely contested races in recent memory, with all three major political fronts – Left Democratic Front (LDF), United Democratic Front (UDF), and National Democratic Alliance (NDA) – expressing confidence in their victory. The Palakkad constituency, recorded a voter turnout of 70.01% till 6:49 pm on Wednesday, slightly down from the 73.83% turnout in the 2021 Kerala Assembly elections. This reflects the high level of interest in the bypoll, which has been marked by a whirlwind campaign, numerous controversies, and intense political rivalry. (Congress, UDF): The Youth Congress president is contesting the election as the Congress candidate. Although a popular figure, Mamkootathil has faced opposition within his party for not being a local candidate. His selection has stirred some controversy, but he remains a key figure in the race. The BJP has fielded Krishnakumar, a local leader with significant support in the region. After some internal disagreement, his candidacy was finalized, and he is now seen as a strong contender, especially given the BJP’s push to expand its influence in Kerala. (Independent, supported by LDF): A former Congress leader, Dr. Sarin switched to the CPI(M) and is contesting as an independent candidate backed by the Left. His entry into the race has added a new layer of competition, as the Left attempts to retain its hold on the region. Adding to the drama, , a popular figure from the BJP, made headlines by joining the Congress just before the final stretch of the campaign, further intensifying the political battle. Several local issues have dominated the Palakkad by-election, with infrastructure development, agricultural policies, and economic growth taking center stage. The constituency, which has a significant agricultural base, has been grappling with challenges like inadequate irrigation facilities, poor road infrastructure, and the need for better government support for farmers. Additionally, rising living costs and youth unemployment have been major concerns for voters, and the outcome of this election could be seen as a response to these pressing issues. In the 2021 Kerala Assembly Elections, Palakkad saw a tight contest, with Shafi Parambil of Congress securing the seat with a narrow margin of 3,859 votes. Parambil received 38.06% of the vote share, while his main rival, E. Sreedharan of the BJP, garnered 35.34%. C.P. Promod of the CPI(M) received 25.64%, indicating a three-way contest that was too close to call.
Despite the playful nature of this online phenomenon, it speaks to a broader trend of brands tapping into popular culture to engage with consumers in new and unexpected ways. By aligning themselves with beloved properties like "Legend of Heiluo," brands like Pepsi are able to connect with fans on a deeper level and create buzz around their products in a crowded marketplace.
The latest rankings in the Chinese Basketball Association have sent shockwaves through the league as Beijing suffered a surprising loss, relinquishing their position at the top of the standings. Meanwhile, the underdog team from Shandong pulled off a major upset, and Qingdao sealed a thrilling victory against Jiangsu in a last-second thriller. The intense competition and unpredictable outcomes have left fans and analysts on the edge of their seats, as the battle for supremacy continues to unfold.In conclusion, Jackson Yee's reflections on the social responsibility of youth actors serve as a poignant reminder of the profound influence that actors wield and the importance of approaching acting with a genuine sense of respect and accountability. As actors navigate their careers, they must remember that their roles extend beyond the screen and into the hearts and minds of their audience. By staying true to their passion, embracing continuous learning, and using their platform for good, young actors can truly make a difference in the world through their art.
Govt vows to ensure free media cultureThe research, which involved a large sample size of both men and women across different age groups, used various sleep monitoring devices and questionnaires to gather data on their sleep habits and patterns. The results revealed that, on average, women slept approximately 30-60 minutes less per night than men, and they also had a higher number of awakenings during the night.
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As the tension mounted on the pitch, tempers flared and emotions ran high. The fiery clashes between the players added an extra layer of intensity to the already heated competition. Referees struggled to maintain control as the players engaged in heated exchanges and aggressive challenges, fueling the flames of rivalry even further.The 4.9% growth rate signifies a notable achievement in the foreign trade sector, considering the various hurdles that the global economy has faced throughout the year. It reflects the resilience and adaptability of the foreign trade industry in responding to changing market conditions and dynamics.
Matt Gaetz says he won't return to Congress next year after withdrawing name for attorney general
As the speculation continues to swirl, only time will tell whether Ed Woodward will make the move to Arsenal and whether he can successfully navigate the challenges and expectations that come with the role of sporting director at a club with such a rich footballing history. The football world eagerly awaits the next chapter in this intriguing saga.Despite the rumors of a potential move to the Turkish Super Lig or interest from Barcelona, Son Heung-min's focus remains on Tottenham Hotspur. The agent's denial of the rumors signifies the ongoing negotiations between Son and the club, highlighting the complexity and sensitivity of transfer negotiations at the highest level of football.The player's journey from being a forgotten man at Manchester United to a shining star in Ligue 1 is a testament to his resilience, determination, and unwavering belief in his abilities. His performances have not only caught the eye of football fans but have also reignited the debate about the importance of giving players a second chance to prove their worth.
From wealth and success to murder suspect, the life of Luigi Mangione took a hard turnSteam Deck Revolutionizes F1 Gaming! A Game-Changer for Racing Enthusiasts
( MENAFN - IANS) Mumbai, Dec 21 (IANS) Indian benchmark indices declined 5 per cent this week amid global selloff, mainly triggered by the US federal Reserve's caution approach for rate cuts next year, which resulted in relentless selling by the foreign institutional investors (FIIs). With this, Sensex lost over 1,000 points in three out of five trading sessions this week, and nearly Rs 17 lakh crore worth of market cap was eroded out of BSE-listed firms. According to market experts, it had been a dreadful week for the equity markets, as the key indices fell dramatically, erasing the gains of the last four weeks. “The benchmark index experienced a significant decline, plummeting approximately 1,200 points from the previous week's closing figure. As a result, it finished the week below 200 simple moving average (SMA), marking a total loss of nearly 5 per cent,” said Osho Krishnan from Angel One. The Nifty50 experienced a significant decline, as it breached all essential support levels. This downward movement has led the index to approach its most recent swing low, signalling potential volatility in the market. From a technical standpoint, as Nifty slipped below the pivotal zone of 200 SMA, the next potential support could be seen around the recent swing low around 23,200-23,100, while a decisive breach is likely to open further downside towards 22,800 in the near period, said Krishnan. The weak global cues initiated the downward move, but the follow-up sell-off showcases the bears' eagerness to colour the market red ahead of Christmas. On Friday, Sensex settled at 78,041.59, down by 1,176.46 points or 1.49 per cent, and Nifty ended at 23,587.50, down by 364.20 points, or 1.52 per cent. Nifty Bank ended at 50,759.20, down by 816.50 points, or 1.58 per cent. The Nifty Midcap 100 index closed at 56,906.75 at the end of trading after dropping 1,649.50 points, or 2.82 per cent. On the sectoral front, selling was seen in Nifty's Auto, IT, Fin Services, Pharma, FMCG, Metal, Media, Energy, Private Bank, Infra, Commodities, and PSE sectors. Considering the recent developments, it is advised to approach markets with proper risk management and refrain from taking complacent bets for the time being, advised experts. Amid this cautious environment,“we maintain a bullish outlook on new-age, platform-based technology companies,” said Krishna Appala from Capitalmind Research. A balanced investment strategy that combines the stability and fair valuations of large caps with tactical exposure to profitable, domestic-focused tech companies offers a prudent approach to capturing growth potential while managing geopolitical and policy risks, said experts. MENAFN20122024000231011071ID1109018778 Legal Disclaimer: MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.
PNC Financial Services Group Inc. Acquires 504 Shares of Broadridge Financial Solutions, Inc. (NYSE:BR)