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Sagar Adani, the nephew of industrialist Gautam Adani, and six others in connection with an alleged bribery and fraud scheme linked to a renewable energy project in India. Prosecutors allege that the defendants, including Gautam Adani, conspired to pay $265 million in bribes to Indian government officials to secure contracts for developing India's largest solar power plant. The Adani Group has denied the allegations, terming them baseless. The company has stated that it will explore “all possible legal recourse” to address the charges.

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Sagar Adani, a millennial scion of the company who kept track of hundreds of millions of dollars of alleged bribes to Indian officials on his mobile phone, court filings show. U.S. prosecutors called the notes on Adani's phone «bribe notes.» In those notes, Sagar Adani, nephew of the Indian conglomerate's billionaire founder Gautam Adani, noted the amount of the bribe he offered, which government official had been offered the money and how much solar power the official's region would buy in return. He even identified a per megawatt bribe rate to secure the power contracts, the court filings show.

Nvidia’s strategy for India is built on a multi-pronged approach predicated to “accelerated computing is the future of technology,” especially for India given the energy constraints. This approach offers an efficient solution to meet the country’s growing AI needs—sustainably, said the company’s business head (cloud and consumer internet) for the South Asian market, Hasan Aijaz. “The chip is no longer the unit; it’s the data centre. You don’t have to think about chips or systems separately. You need to think about how chips and systems work together, along with the network and the software and create a full stack,” he said at the Bengaluru Tech Summit on Thursday speaking on a discussion about AI for chips. Meanwhile, US-based Qualcomm said it is focused on edge AI and making on-device AI more accessible and efficient for its end consumers. Senior VP at the firm, Srini Maddali, said «AI on the edge is not an option; it is a necessity. You will not be able to scale, nor will you get the technology leverage across the world without having AI on the device.»

generative AI came into the spotlight – is stabilising. Staffing experts are noticing a plateauing in the need for specialist prompt engineers, with businesses seeking AI engineers with a broader skill set as techniques like retrieval augment generation or grounding, fine-tuning, and continual pre-training are seeing increasing innovation and relevance, and tools to automate prompt optimisation are emerging. Prompt engineers are people who optimise prompts to ensure accurate and desirable output from Gen AI models. “Prompt engineering and demand for prompt engineers is by scope and nature highly seasonal and short-termed,” said Krishna Gautam, business head — direct hiring — at specialist staffing firm Xpheno. “The role's eventual output is to enhance the intuitive capabilities of the AI, including the ability to autonomously frame, test and calibrate prompts. Given this specific nature of the stack, prompt engineering will eventually phase out itself from being a significant part of the AI capacity matrix of enterprises.”

RBI and the Maldives Monetary Authority on Thursday signed an agreement here for establishing a framework to promote the use of local currencies — the Indian Rupee and the Maldivian Rufiyaa (MVR) for cross-border transactions. The Memorandum of Understanding (MoU) was signed by Governor of Reserve Bank of India Shaktikanta Das and Governor of Maldives Monetary Authority Ahmed Munawar. «The MoU encourages the use of INR and MVR in current account transactions, permissible capital account transactions and any other economic and financial transactions as agreed upon by both countries,» the RBI said in a statement. This framework would enable exporters and importers to invoice and settle in their respective domestic currencies, which in turn would enable the development of trading in the INR-MVR pair in foreign exchange market.

The prominent pollutant was PM2.5-fine particles with a diameter of 2.5 micrometers or less, roughly the width of a human hair. These particles can penetrate deep into the lungs and enter the bloodstream, posing significant health risks, according to the Central Pollution Control Board.

Hinduja Group firm IIHL for acquisition of debt-ridden Reliance Capital Ltd (RCAP), sources said. DPIIT approval was required as some of the shareholders of IndusInd International Holdings Ltd (IIHL) are residents of Hong Kong, a special administrative region controlled by China. According to Press Note 3, if an entity from a nation sharing a land border with India (China, Bangladesh, Pakistan, Bhutan, Nepal, Myanmar, and Afghanistan), or if a citizen or permanent resident of any such country is the beneficial owner of an investment in India, they are required to pursue investment through the government approval route. According to sources, the green signal from the DPIIT will help take forward the resolution plan submitted by Mauritius-based IIHL, which emerged as the successful bidder by submitting Rs 9,861-crore bid for the debt-ridden financial firm.

Dope Thief. The eight-episode series is inspired by Dennis Tafoya’s novel.

Joe Biden dropped out of the US election race. Joe Biden dropped out of the US Presidential election race after his dismal performance in the US Presidential debate against Donald Trump. He was presumably forced out on public opinion and approval ratings, but his resignation letter from the Presidential elections spoke otherwise. In his departing, he endorsed Kamala Harris as his successor for the Democrats, and even though things looked good for Kamala Harris until the last few weeks, things fell apart and the Republicans managed to secure a massive election victory. Meanwhile, the visitor logs of the White House from the month of July has still not been revealed publicly, which is now raising serious questions among the American public and the press corps, with some even wondering if the Democrats or Joe Biden has something to be concerned about these visitor logs.

money-market funds, according to reports. Apollo chief economist Torsten Slok is of the opinion that the rate cuts can trigger a $2 trillion exodus from money-market funds, with assets held in money-market funds hit an all-time high of $7 trillion this month. With the Fed Reserve cutting interest rates, money will start moving out of these funds, and will generate more value when it enters higher-yielding assets during a folio shift. Asset relocation like these could help generate more value, but it may necessarily not be a great news for stocks and the US stock markets, but would instead result in inflows into the credit markets, according to a Business Insider report.

The residents of Kuath village in Drubeel Panchayat of Mughal Maidan block in Kishtwar district of Chenab Valley in J&K informed that the four victims were identified as Sajad Ahmad, Mehraj ud Din, Abdul Kabir and Mushtaq Ahmad, all of whom work as laborers and daily wagers. “They were called to the RR army camp located at the nearby Chas area. Two of them were called in the morning of Wednesday (November 20) and two others were called to the camp a few hours later,” said a local.

equity exposure of the household (HH) sector despite a surge in equity mcap. India's mcap hit 146% of GDP in the quarter ended June 2024. In its July bulletin, RBI published its first- ever quarterly estimates of the financial wealth of HHs, including their holdings in the equity market. A month later, Sebi released a 'Working Paper on Household Savings through Indian Securities Market'. Taking cues from these estimates, gross financial assets (GFAs) estimates, and outstanding liabilities of the HH sector, along with their equity exposure, were made. RBI's estimates up to FY23 were updated to Q1 FY25, incorporating additional information from Sebi's paper, which found:

Piyush Goyal Thursday said that India will be cautious in its opening up process till the time it is an emerging economy and it has to maintain a balance between protecting the needs of industry and the different levels of economic development of other countries and non-market economies when it comes to investment. At an event organised by the UK-India Business Council, he also said that India is going to bring out a new legal framework to ensure data privacy that would encourage free flow of data among trusted partners. “Till we are yet an emerging economy or a developed economy, I'll certainly need to have a little bit more caution in my opening up process,” Goyal said.

The prime minister, who arrived in Guyana on the final leg of his three-nation visit, is the first Indian head of the state to visit the country in more than 50 years. «For the world to move forward, the biggest mantra is 'Democracy First, Humanity First'. The spirit of democracy first teaches us to take everyone along and participate in everyone's development. Humanity First guides our decision-making. When we make Humanity First the basis of our decision-making, the results are also ones which benefit humanity,» he said.

International Criminal Court to issue arrest warrants for Israeli Prime Minister Benjamin Netanyahu and former defense minister Yoav Gallant, the White House said Thursday. «We remain deeply concerned by the Prosecutor's rush to seek arrest warrants and the troubling process errors that led to this decision. The United States has been clear that the ICC does not have jurisdiction over this matter,» a National Security Council spokesperson said. The statement made no mention of an ICC arrest warrant also issued for Mohammed Deif, the military chief of Hamas.

Nippon Life India Asset Management has executed a definitive agreement with realty developer Lodha, listed as Macrotech Developers, to acquire an office space spread across two floors in a commercial tower One Lodha Place in Mumbai’s business district Lower Parel for Rs 486 crore. The asset management company is planning to shift its headquarters in this office spread over 52,162 sq ft from Peninsula Business Park in the vicinity. “The deal was registered on Thursday noon. The buyer has paid a certain amount of the consideration and the stamp duty, and is expected to pay Rs 400 crore by December 6,” said a person with direct knowledge of the development.

Mahayuti and the opposition Maha Vikas Aghadi (MVA) on who will head the next government with constituents in both camps laying claim over the chief minister's post. After polling for the 288-member assembly ended on Wednesday evening, the ruling as well as opposition fronts started claiming that mandate will be in their favour when votes are counted on November 23. Soon after polling, state Congress chief Nana Patole asserted a MVA government will be formed in Maharashtra under the leadership of his party. Voting trends suggest the Congress will get the maximum number of seats in the new assembly, he said.

Amazon will likely face an EU investigation next year into whether it favours its own brand products on its online marketplace as European antitrust regulators build up a case under landmark rules, people with direct knowledge of the matter said. The US online retailer could face a fine of up to 10% of its global annual turnover if it is found guilty of breaching the European Union's Digital Markets Act (DMA) which seeks to rein in the power of Big Tech. The timing and decision on whether to go ahead with an investigation will be taken by incoming EU antitrust chief Terera Ribera in the coming months, the people said. The Spaniard is set to take up her post next month, replacing outgoing Margrethe Vestager.

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Bitcoin is jumping again, rising above $98,000 for the first time Thursday