Latest News
US charges Indian billionaire Gautam Adani with fraud
Indian billionaire Gautam Adani has been charged with fraud in the US, which has accused him of orchestrating a $250m (£198m) bribery scheme and concealing it to raise money in the US.
The criminal charges, filed on Wednesday in New York, are the latest blow to 62-year-old Mr Adani, one of India’s richest men, whose business empire extends from ports and airports to renewable energy.
In the indictment, prosecutors alleged the tycoon and other senior executives had agreed to the payments to Indian officials to win contracts for his renewable energy company expected to yield more than $2bn in profits over 20 years.
The Adani Group did not immediately respond to a request for comment.
The conglomerate has been operating under a cloud in the US since 2023, when a high-profile company published a report accusing it of fraud. The claims, which Mr Adani denied, prompted a major market sell-off.
Reports of this bribery probe have been circling for months. Prosecutors said the US started investigating the company in 2022, and found the inquiry obstructed.
They allege that executives raised $3bn in loans and bonds, including from US firms, on the backs of false and misleading statements related to the firm’s anti-bribery practices and policies, as well as reports of the bribery probe.
“As alleged, the defendants orchestrated an elaborate scheme to bribe Indian government officials to secure contracts worth billions of dollars and… lied about the bribery scheme as they sought to raise capital from U.S. and international investors,” US Attorney Breon Peace said in a statement announcing the charges.
“My office is committed to rooting out corruption in the international marketplace and protecting investors from those who seek to enrich themselves at the expense of the integrity of our financial markets,” he added.
On several occasions Mr Adani met personally with government officials to advance the bribery scheme, officials said.
Mr Adani is a close ally of Indian Prime Minister Narendra Modi. He has long faced claims from opposition politicians alleging that he has benefited from his political ties, which he denies.
The US Attorney positions in the US are appointed by the president. The filing comes just weeks after Donald Trump won election to the White House, pledging to overhaul the US Justice Department.
Last week on social media, Mr Adani congratulated Trump on his election win and pledged to invest $10bn in the US.
[BBC]
Latest News
USS Canberra makes port call in Colombo
The United States Navy’s USS Canberra (LCS 30) arrived at the port of Colombo for replenishment purposes on 12 Jun 26.
The visiting ship was welcomed by the Sri Lanka Navy
in compliance of naval traditions.
USS Canberra, a Littoral Combat Ship, is commanded by Commander J McLaughlin.
Business
Committee appointed for restructuring SriLankan Airlines
The Cabinet of Ministers has approved the appointment of a Committee, chaired by Senior Presidential Advisor on Digital Economy Dr. Hans Wijayasuriya, to conduct a strategic review and restructuring of SriLankan Airlines.
The other members of the committee are as follows:
• Senior Presidential Economic Advisor Duminda Hulangamuwa
• Financial and corporate strategy expert Deshal De Mel
• Transaction and investment banking, mergers and acquisitions expert Dumith Fernando
• The Secretary to the Ministry of Finance or his Representative
• The Secretary to the Ministry of Transport, Highways and Urban Development / a representative of the Civil Aviation Authority
• The Chairman of SriLankan Airlines
• Legal experts with specialised knowledge in corporate, aviation and public law
• Aviation industry experts to be appointed
The Government has recognised the urgent priority of undertaking a comprehensive strategic review of SriLankan Airlines, taking into account the broader macroeconomic context.
The main objective of this exercise is to establish a financially sustainable and commercially efficient national carrier, while reducing the long-term fiscal burden on the Government.
Accordingly, it has been deemed appropriate to establish a dedicated committee to carry out the strategic review and restructuring process in collaboration with the International Finance Corporation (IFC), which is serving as the Transaction Advisor.
The committee will be responsible for:
• Conducting an independent review and assessment of the airline’s strategic direction and future course of action
• Recommending restructuring requirements and possible restructuring models
• Evaluating specific strategic options and identifying the most suitable course of action aligned with the Government’s overall objectives
• Providing oversight, guidance and support for the implementation of the selected strategy and execution framework determined by the Government
The committee will function for the duration of the strategic review and restructuring process, or until it is formally dissolved by the Government of Sri Lanka.
(PMD)
Latest News
Kane Williamson retires from international cricket
Former New Zealand captain Kane Williamson has retired from all international cricket with immediate effect.
The 35-year-old featured in the first Test against England at Lord’s, registering a duck and 18, but will play no further part in the three-match series, which will resume at The Oval on 17 June.
Williamson retires as New Zealand’s leading all-format run-scorer, with 19,346 runs, including 48 centuries and six double-hundreds, in 378 appearances between 2010 and 2026.
As the Black Caps’ most prolific Test batter, he scored 9,515 runs at an average of 54.06, including 33 centuries, in 110 matches.
Williamson captained New Zealand on 206 occasions between 2012 and 2024, leading the side through their golden period when they won the inaugural World Test Championship in 2021 and reached the finals of the 2019 World Cup and 2021 T20 World Cup.
Explaining his decision, Williamson, who retired from T20Is in November, said: “I’ve thought about it for a while, but over the last few days it’s become clear now is the right time.
“I’ve always felt a strong drive and hunger for international cricket, and I take pride in knowing I’ve given it my all in every match I’ve played for New Zealand.
“Continuing with anything less wouldn’t be right and I feel fortunate to step away on my own terms.
“I leave feeling optimistic about where this group is heading. There’s a huge amount of talent, and a real desire to do something special with this New Zealand team.
“It’s a team I love, and I feel incredibly fortunate to have been part of it for so long. It will continue to be dear to my heart.”
Head coach Rob Walter paid tribute to Williamson’s “legacy” and impact on the Black Caps, stating he will “remain embedded in its DNA”.
“Anyone who’s had the privilege of working with Kane understands he is a very special player and person,” Walter said.
“His numbers and batting skills speak for themselves, but it’s what he means to this Black Caps team, as well as world cricket – that will be his legacy.
“His impact on the culture and standards of this team will remain embedded in its DNA.
“Kane’s always put the team first and although we’re disappointed to see him go, we’re happy to know he’s content and at peace with his decision.
“An incredible player, awesome team-mate, a wonderful leader and a fantastic ambassador for our sport.”
Former New Zealand all-rounder Sir Richard Hadlee described Williamson as a “wonderful player” and an “unflappable leader”, who was the “architect of some our of greatest moments in cricket”.
[BBC]
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