Scroll to the top

Indian billionaire Gautam Adani.

Reuters

For years, India’s Adani Group, an Indian conglomerate and the world’s largest private developer of coal plants, faced repeated allegations of corruption, money laundering, and theft of taxpayer funds. Those claims tended to be of local origin, and they triggered low-level investigations that usually went away. Meanwhile, Gautam Adani, 60, continued to amass his wealth, becoming critical to India’s infrastructural expansion under powerful Prime Minister Narendra Modi. Known as “Modi’s Rockefeller,” Adani is now Asia’s wealthiest man.

US probe leads to scandal. Now, Adani’s family-run energy and transport empire has been slammed with a US-based investigation by Hindenburg Research. The New York-based financial forensics investigator has cited evidence of suspected money laundering, stock manipulation, and tax fraud, causing Adani Group’s market value to tumble. Crucially, the report also raises questions about Adani’s proximity to his friend and ally, Modi.

Read moreShow less

Eyewitness footage shows explosion at military industry factory in Isfahan, Iran.

Reuters

What we know about the Isfahan attack

In what’s broadly believed to have been an Israeli attack, three drones hit an Iranian ammunition factory in the central city of Isfahan, Iran, on Saturday night. Iranian state media said damage to the site was “minor,” but phone footage suggests that the compound – used to produce advanced weapons and home to its Nuclear Fuel Research and Production Center – took a serious blow. An oil refinery in the country's northwest also broke out in flames on Saturday, though the cause remains unknown. Then, on Sunday night, a weapons convoy traveling from Syria to Iraq was also targeted by airstrikes. US reports attributed the Isfahan attack to Israel – which has in the past targeted nuclear sites in Natanz and hit Iranian convoys transporting weapons to Hezbollah in Lebanon. Indeed, this comes after Russia purchased hundreds of Iranian-made “suicide drones,” which it has used to pummel Ukrainian cities. While the deepening military alliance between Iran and Russia is a growing concern for Washington, it’s unclear if Uncle Sam played a role in the Isfahan hit – or whether Israel, which has to date refused to deliver heavy arms to Kyiv, agreed to carry out this attack in part to frustrate Iranian drone deliveries to the Russians. The escalation comes just days after CIA Director William Burns flew to Israel for meetings with his Israeli counterparts – and as US Secretary of State Antony Blinken heads to Israel and the West Bank this week. Crucially, it highlights the increasing overlap between Russia’s aggression in Ukraine and the longtime shadow war between Iran and Israel.

Read moreShow less

Thousands of Israeli protesters rally against PM Benjamin Netanyahu's new government in Tel Aviv.

Gili Yaari via Reuters Connect

Israelis protest proposed judiciary changes

Israelis took to the streets of Tel Aviv, Jerusalem, Haifa, and Beersheba on Saturday to protest judicial changes proposed by PM Benjamin “Bibi” Netanyahu’s new government, the country’s most right-wing coalition to date. While demonstrations have been underway for weeks, more than 100,000 people gathered in Tel Aviv in the biggest rally yet to oppose the proposed reforms that they fear will weaken the High Court of Justice’s power and independence. Bibi’s government feels the judiciary is biased against it and interfering with its ability to govern, and the PM is vowing to push through the reforms despite the outcry. On Sunday, meanwhile, Bibi finally dismissed key ally Aryeh Deri as interior and health minister, days after the high court ruled he was ineligible to hold a senior cabinet post due to a previous criminal conviction. Deri is head of the ultra-Orthodox Shas party, some of whose members had threatened to turn away from Bibi's wobbly government if the PM fired their boss. Just weeks in, this is another sign that Bibi is going to have a hell of a time keeping his coalition together.

Read moreShow less

Russian President Vladimir Putin shakes hands with Pakistani PM Shehbaz Sharif during a meeting on the sidelines of the Shanghai Cooperation Organization summit in Samarkand, Uzbekistan.

Sputnik/Alexandr Demyanchuk/Pool via REUTERS

Cold War rivals Russia and Pakistan are negotiating an agreement for the Russians to start selling cheap oil to energy-starved Pakistan in March.

This will make Islamabad yet another Asian customer of Russian crude at a time when Moscow’s cash inflows are limited by a G7/EU oil cap and sanctions. Also, considering Pakistan is dead broke, payments might be made through a “friendly” country, presumably China – a power play for Beijing, whose yuan will be used for the transactions, giving the currency more sway as an alternative to the US dollar.

How is this deal going to affect American interests in the region? And why is Pakistan, which wants to balance its ties with Washington, giving business to the Russians perhaps through China?

Read moreShow less

Bangladesh's PM Sheikh Hasina speaks with reporters during the 72nd UN General Assembly in New York.

REUTERS/Stephanie Keith

The world’s longest-ruling female leader is facing the most serious threat to her power in years.

Prime Minister Sheikh Hasina, who has run Bangladesh since 2009 and has been lauded as the Iron Lady of South Asia for her firm decision-making and economic prowess, faces a united opposition, an economic downturn, and international pressure against her regime’s deteriorating human rights record as fresh protests have swelled in the country over the past few days.

Read moreShow less

A protester holds a portrait of former Catalan President Carles Puigdemont during a protest in front of the European Parliament in Strasbourg, France.

REUTERS/Vincent Kessler

Spanish justice gives up on Catalan fugitive

After trying for more than five years to bring fugitive ex-Catalan leader Carles Puigdemont to trial for sedition, on Thursday a Spanish judge threw in the towel and dropped the charge. Why? The left-wing government of PM Pedro Sánchez has watered down the crime of sedition so much that it no longer covers what Puigdemont did in Oct. 2017: declare Catalonia an independent republic before skipping town when he was about to get arrested. And why did Sánchez tweak the law? Because he needs the votes of Catalan separatist parties in the national parliament to stay in power (which also explains why he pardoned the other politicians who tried to secede along with Puigdemont.) The judge's decision has big political implications in an election year. On the one hand, it's vindication for the Catalan independence movement, which has been losing steam since its failed secession bid. But on the other, it's a poison pill for Sánchez, whom the the Spanish right has long accused of pandering to Catalan separatists. The PM will get a sense of what Spanish voters think of his Catalonia policy in local and regional elections in late May, a dress rehearsal for a general vote in December.

Read moreShow less

Soldiers drive toward North Waziristan during a 2014 military offensive against the Pakistani Taliban.

REUTERS/Ihsan Khattak

Afghanistan and Pakistan are on the brink of direct conflict.

Terror attacks from the Pakistani Taliban — aka the Tehreek-e-Taliban Pakistan or the TTP, who are ideologically affiliated with and politically backed by the Afghan Taliban — are increasing across Pakistan. In the last two weeks, Pakistani intelligence operatives have been gunned down in the country’s biggest province, and a detention facility has been overtaken and officials held hostage.

To defend itself, Islamabad has hinted that it might attack TTP hideouts in Afghanistan … with Washington’s blessing.

Read moreShow less

President Joe Biden walks along the border fence during his visit to the US-Mexico border in El Paso, Texas.

REUTERS/Kevin Lamarque

Biden goes to El Paso

President Joe Biden on Sunday visited the US-Mexico border for the first time since taking office and at a time when he's getting flak from all sides for his immigration policies. Biden did the usual stuff: He toured a busy port of entry, walked along the border fence, and met with officials like Texas Gov. Greg Abbott, who chided the president for taking so long to show up — feeding into the Republican narrative that blames Biden for the surge of migrant arrivals in recent months. But the president has also upset the left wing of his Democratic Party after failing to deliver on many of his promises to undo the Trump administration's harshest immigration curbs — especially by being wishy-washy on ending Title 42, a Trump-era rule that allows US authorities to expel asylum-seekers on public health grounds that the Supreme Court is now sitting on. What's more, last week Biden announced that migrants from Haiti, Cuba, Nicaragua, and Venezuela would be required to apply from outside the US and be punished if they don't. While the president is otherwise benefiting from the GOP's civil war in Congress, his immigration headache won't go away anytime soon.

Read moreShow less

Latest