Week In Review: Adani-Hindenburg Saga, Apple's India Push Continues

As the week comes to a close, the business world has been buzzing with significant developments. From the Adani Group‘s ongoing troubles to Apple warming up to India, there’s a lot to catch up on. Let’s dive into the top stories of the week.

Adani Group’s Legal Tangle Continues

In the ongoing Adani Group-Hindenburg Research saga, a former Adani Group contractor, Ajay Kumar Agarwal, has approached the Supreme Court seeking permission to intervene. Agarwal alleges witnessing money transfers between Adani subsidiaries during his tenure. Meanwhile, the Supreme Court is set to review SEBI’s findings on the allegations against Adani by US-based Hindenburg Research. The court’s decision will be keenly watched as it could have significant implications for the conglomerate. Read the full article here.

Apple’s Indian Endeavours

Apple is set to expand its manufacturing footprint in India with the local production of the iPhone 15 Plus. This move follows the initiation of the base model’s production in the country. In another significant development, following Apple’s inclusion of NavIC on the iPhone 15 Pro, India has mandated the use of NavIC in all smartphones by 2025. NavIC, India’s indigenous navigation system, is set to become a staple in the country’s tech ecosystem. Read the full article here.

Elon Musk’s Starlink Awaits Crucial Nod

Elon Musk’s Starlink is on the cusp of a significant breakthrough in India. The Department of Telecommunications (DoT) is set to decide on Starlink’s bid to offer satellite-based broadband in the country. If approved, this could revolutionize broadband access, especially in remote areas of India. Read the full article here.

Reliance Retail’s Investment Drive

India’s largest retail chain, Reliance Retail, is in talks with several sovereign wealth funds for a fresh set of investments totalling around $1.5 billion. This move is part of the company’s strategy to raise $3.5 billion by the end of September. With significant investments on the horizon, Reliance Retail continues to solidify its position in the market. Read the full article here.

Finfluencer Faces Backlash

Social media finance personality, Ravisutanjani Kumar, has been called out for allegedly faking his educational credentials. This incident has sparked a debate on the credibility of finfluencers and the potential spread of misinformation online. The incident underscores the importance of verifying information in the digital age. Read the full article here.

Pakistan’s Diplomatic Dilemma

In a concerning development, Pakistan has reportedly been unable to pay salaries to its diplomats across the world for the past three months. This situation arises from an extreme dollar liquidity crunch, highlighting the country’s financial challenges on the global stage. Read the full article here.

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