Ports on the East and Gulf Coasts could close next week if dockworkers and employers cannot overcome their big differences over the use of automated machines to move cargo. The International Longshoremen’s Association, the union that represents dockworkers, and the United States Maritime Alliance, the employers’ negotiating group, on Tuesday resumed in-person talks aimed at…
NEW DELHI: Sri Lankan President Anura Kumara Dissanayake assured Prime Minister Narendra Modi that Sri Lanka would not permit its territory to be “used in any way in a manner that is detrimental to the interest of India,” on Monday. Following discussions at Hyderabad House in New Delhi, Dissanayake emphasised his commitment to strengthening Indo-Sri…
Gautam Adani (PTI file photo) MUMBAI: Following US securities and wire fraud allegations, Adani Ports and Special Economic Zone, led by Gautam Adani, has withdrawn from a financing arrangement with a US agency for a Sri Lankan port terminal project, opting instead to utilise its own resources. In light of the US indictment, securing loans…
An entity majority-owned by embattled billionaire Gautam Adani, who was indicted in US courts last month, has pulled back from a loan pact valued at $553 million from the US International Development Finance Corporation, according to a company filing.“The project will be financed through the company’s internal accruals and capital management plan. We have withdrawn…
NEW DELHI: Barely a day after PM Narendra Modi highlighted the need for better port security at the meeting of state police chiefs, govt has begun work on setting up a Bureau of Port Security to deal with these issues of all such establishments of central and state govts and private players. This will be…
A US agency said on Sunday that it is reviewing the impact of Department of Justice bribery allegations against the founder of India’s Adani Group on the agency’s prior agreement to lend more than USD 550 million to a Sri Lankan port development backed by the group. The US International Development Finance Corporation last November…
India and Iran’s connection dates back centuries, marked by cultural exchanges and mutual trade. In the modern era, this bond has evolved into a strategic partnership with a focus on energy cooperation and regional connectivity. The Chabahar Port project exemplifies this collaboration, serving as a crucial gateway to Central Asia. It not only strengthens India’s…