• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
July 5th - OPEC+, comprised of OPEC and other oil-producing nations, will hold its monthly meeting later today. An informed source indicated that OPEC+ has agreed in principle to increase crude oil production quotas by 188,000 barrels per day in August. Two other sources stated that this increase is the most likely decision.July 5th - The Malian military reported on the 4th that military positions in multiple locations across Mali were subjected to a new round of coordinated attacks by armed groups. The military successfully repelled all attacks, and the attacked positions remain under its "complete control." The report stated that these attacks occurred in Agailok, Anefisse, Gao in northern Mali, and Sevare in central Mali. A local official in Gao said that before dawn on the 4th, militants launched a fierce attack on military camps with guns and rockets. A local resident said, "This morning, no one can leave their homes... The Malian armed forces have blocked all the streets. The gunfire was so intense, it felt like the roofs were about to collapse."July 5th - According to Israeli sources on the 5th local time, Israeli Transportation Minister Miri Regev confirmed that Israel deployed an Iron Dome air defense system to the United Arab Emirates in the early stages of the US-Israel-Iran conflict. This marks the first time the Iron Dome has been deployed to a country outside of Israel and the United States. Reportedly, this is the first time an Israeli government official has publicly acknowledged deploying the Iron Dome system to the UAE. Previously, related reports had been confirmed by US officials.OPEC+ sources: OPEC+ has agreed in principle to increase its oil production target by 188,000 barrels per day starting in August.On July 5th, at the 2026 Global Digital Economy Conference Results Release Conference, Lu Ya, Vice President of the Beijing Academy of Social Sciences, released the "Beijing Digital Economy Development Report (2025-2026)" blue book. The report shows that in 2025, Beijings digital economy added value exceeded 2.4 trillion yuan, a year-on-year increase of 8.7%, accounting for 46.4% of GDP. It ranked second in the global digital economy benchmark city index evaluation, with a development index value of 0.770, firmly maintaining its position as a "global leading city." Lu Ya introduced that Beijings status as the "No. 1 city for artificial intelligence" continues to be consolidated. In 2025, the core artificial intelligence industry scale reached approximately 450 billion yuan, attracting over 2,500 related enterprises. As of April 2026, 225 large-scale models had been registered. Innovation and industry application of large-scale models are accelerating in both directions, rapidly empowering industrial upgrading, technological innovation, and public services. The market-oriented reform of data elements is being deepened, and breakthroughs have been achieved in the construction of "one zone and three centers." The on-exchange transaction volume of the Beijing International Big Data Exchange increased by 150% year-on-year, and the circulation of trusted data space is deepening around key areas such as healthcare and audiovisual media.

After The Indian Catastrophe, Adani's $2.5 Billion Stake Sale Is Crucial

Aria Thomas

Jan 30, 2023 11:23

11.png


On Monday, the second day of bidding for the $2.5 billion share sale of Gautam Adani's flagship company will be overshadowed by a $48 billion fall in the Indian billionaire's equities, which was triggered by a report from a U.S. short seller.


Seven listed firms belonging to the Adani conglomerate, which is led by Asia's richest man, experienced significant value declines after a research by Hindenburg Research raised concerns about excessive debt levels and tax haven use.


Adani Group filed a comprehensive statement late on Sunday, stating it adheres with all local laws and had made necessary regulatory disclosures. It has stated that the story is unfounded and that it is exploring legal action against Hindenburg.


The stock market crash has been a severe blow for 60-year-old Adani, a school dropout who ascended rapidly in recent years to become the world's third richest man until falling to seventh place on the Forbes list last week.


The secondary share sale by Adani Enterprises launched for retail and institutional investors on Friday, but saw only 1% subscriptions as the company's shares slid 11% below the minimum offer price.


Adani Group said in a statement to Reuters on Saturday that the sale remains on schedule at the planned issue price, despite reports from sources that bankers on the country's largest secondary share sale are considering extending the timeline beyond January 31 or adjusting the price due to the share price decline.


"It is crucial for the Adani Group to ensure the share sale goes through," said Ambareesh Baliga, a Mumbai-based market analyst who advises family offices. "If they keep to the price and don't cut it, and the stock doesn't rebound back, nobody would be interested in applying," he added.


"Monday's trade will be key."


In a second statement released on Sunday, Adani Group's chief financial officer Jugeshinder Singh expressed confidence that the share sale will be successful. Additionally, he stated that its anchor investors have demonstrated confidence and stay invested.

The Phrase 'FREE FALL'

Some Adani Group equities have soared more than 1,500% in the previous three years after rapid expansion in operations that include ports, power production, airports and mining.


Adani Enterprises has set a minimum price of 3,112 rupees per share and a maximum price of 3,276 rupees per share for the secondary share sale - significantly above Friday's closing price of 2,761.45 rupees per share.


Arun Kejriwal, founder of Kejriwal Research & Investment, said investors were likely to wait until the penultimate day of the share sale to see if the price band is modified.


"I anticipate that the free decline witnessed on Friday may moderate, but recovery to a level prior to this fall may be challenging," he noted.


According to Indian legislation, the share offering must receive a minimum subscription rate of 90%; otherwise, the issuer is required to repay the entire cash.


Maybank Securities and the Abu Dhabi Investment Authority are among the bidders for the issue's anchor share.


MSCI, an index provider, announced on Saturday that it was soliciting feedback from market parties regarding Adani and was monitoring variables that "may impact the eligibility of certain relevant securities" for inclusion in MSCI indexes.


At least six Adani Group companies comprise 4.31 percent of the total weight of the MSCI India Index.