McLaren’s Lando Norris and McLaren’s Oscar Piastri after a press conference ahead of the Abu Dhabi Grand Prix on December 4, 2025
| Photo Credit: Reuters

New Delhi:

Abu Dhabi’s International Holding Company (IHC), one of the largest sovereign funds that manages assets close to $100 billion, has reaffirmed its support to the Adani Group, saying its outlook on investments in the group remains unchanged despite the US indictment.

“Our partnership with the Adani Group reflects our confidence in their contributions to the green energy and sustainability sectors,” IHC, one of Adani group’s key foreign investors, said in a statement.

“As with all our investments, our team continues to evaluate relevant information and developments. At this time, our outlook on these investments remains unchanged.” IHC had, in April 2022, invested about $500 million each in the renewables arm Adani Green Energy and power company Adani Transmission and a further $1 billion in the group’s flagship Adani Enterprises. Later, it sold its 1.26 per cent stake in AGEL and 1.41 per cent in ATL, now called Adani Energy Solutions Ltd, but hiked its stake in Adani Enterprises Ltd to over 5 per cent.

The IHC statement comes soon after Adani group emphasised that its chairman and his aides have not been charged under the US Foreign Corrupt Practices Act but faced three other charges, including securities and wire fraud, that are punishable with monetary fines.

The US Department of Justice’s (US DoJ) indictment filed in a New York Court last week does not mention Gautam Adani, founder chairman of the ports-to-energy conglomerate, his nephew Sagar or Vneet Jaain in any count related to conspiracy to violate the FCPA, AGEL had said in a filing to the stock exchange.

The three, who are executives at AGEL, have only been charged with securities fraud conspiracy, wire fraud conspiracy, and securities fraud, the company said. In general, the penalties for such charges are less severe than bribery.

The Adani Group last week termed all allegations baseless and said it would seek legal recourse to defend itself.

Meanwhile, other international partners have also expressed their continued support. The Sri Lanka Ports Authority has expressed its ongoing confidence in its partnership with Adani, as the Indian group plays a vital role in expanding the country’s port infrastructure.

With a $1 billion investment in the Colombo terminal, the project is poised to be the largest foreign direct investment in Sri Lanka’s port sector.

Sri Lanka Ports Authority chairman Admiral Sirimewan Ranasinghe (Retd) has reportedly stated that there are no discussions regarding the project’s cancellation. The project will be operational in the next couple of months.

Also, the Tanzanian government has reaffirmed its commitment to its agreements with Adani Ports, as it feels that there are no concerns regarding the ongoing projects and that all contracts fully comply with Tanzanian law.

In May 2024, Tanzania and Adani Ports finalised a 30-year concession agreement to operate Container Terminal 2 at Dar es Salaam port.

Additionally, Adani Ports acquired a 95 per cent stake in Tanzania International Container Terminal Services, a state-owned entity, for $95 million.

(Disclaimer: New Delhi Television is a subsidiary of AMG Media Networks Limited, an Adani Group Company.)

Dubai:

A road in the UAE capital of Abu Dhabi has been named after an 84-year-old doctor with Indian roots as a tribute to his significant contributions to the country’s health sector.

The Department of Municipalities and Transport (DMT) has named a road in Abu Dhabi after Dr George Matthew to recognise his contributions as part of its “Honouring UAE’s Visionaries: Commemorative Streets” project, which aims to honour individuals who have greatly contributed to the nation’s development.

The road near Sheikh Shakbooth Medical City in Al Mafraq will now be known as George Matthew Street.

Reflecting on his journey, Dr Matthew said, “When I first arrived in the UAE, the infrastructure was still evolving. Inspired by the late HH Sheikh Zayed bin Sultan Al Nahyan, the Father of the Nation, I dedicated myself to helping the people. I am deeply grateful that my efforts have been recognised.” Dr Matthew arrived in the UAE in 1967 at the age of 26. Initially preparing to move to the US, he was persuaded by a missionary friend’s description of Al Ain’s beauty to stay.

His application for a position as Al Ain’s first government doctor was successful, leading to the opening of the first clinic under Sheikh Zayed’s blessing.

Starting his service as a General Practitioner, Dr Matthew, affectionately called Matyous (Emirati pronunciation of Mathew) by the locals, witnessed and contributed to the growth of modern medicine in the UAE.

He held several key positions, including Medical Director of Al Ain Region in 1972 and Health Authority Consultant in 2001. His contributions significantly advanced healthcare services in the emirate and promoted a modern medical culture in the country.

Dr Matthew went to England to learn management of tropical diseases, and later to Harvard for specialised studies in hospital management.

His commitment to education and professional development has been instrumental in shaping the healthcare landscape of the UAE. He played a vital role in educating and training healthcare workers, and his dedication earned him the trust and admiration of his colleagues and the community.

Known for his dedication and expertise, Dr Matthew has been a valuable source of medical knowledge for the Al Ain community.

In recognition of his service, the UAE granted Dr Matthew and his family citizenship 10 years ago.

Dr Matthew continues to work in the Private Health department alongside Dr Abdul Rahim Jaafar, another leading healthcare expert in the country.

Expressing his gratitude, Dr Matthew said, “I am ready to do whatever I can for the country and its citizens as long as I live. I pray that God will give me more time to serve.” Dr Matthew grew up in Thumpamon, Pathanamthitta, in Kerala, and graduated with an MBBS in 1965 from Trivandrum Medical College.

He moved to the UAE with his wife, Valsa, after their marriage. Their daughter also works in the government sector. PTI CORR GSP AKJ GSP

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

The world’s trade Ministers gathered in the U.A.E. on February 26 for a high-level WTO meeting with no clear prospects for breakthroughs, amid geopolitical tensions and disagreements.

The World Trade Organisation’s (WTO’s) 13th ministerial conference (MC13), scheduled to run until February 29 in Abu Dhabi, the capital of the United Arab Emirates, is the first in two years.

The WTO is hoping for progress, particularly on fishing, agriculture and electronic commerce.

But big deals are unlikely as the body’s rules require full consensus among all 164 member states — a tall order in the current climate.

“I don’t have hopes that a very substantive agreement will be announced,” said Marcelo Olarreaga, Professor of Economics at the University of Geneva.

“My impression is that the negotiators are dealing with tactical positions — how to make it look like it is the other [side] who is blocking negotiations,” he told AFP.

Even WTO Director-General Ngozi Okonjo-Iweala has said she expects the meeting to be challenging due to the “economic and political headwinds” — from the war in Ukraine, attacks in the Red Sea, inflation, rising food prices and economic difficulties in Europe and China.

Her team is working around the clock to draft agreements for the talks, she told journalists this month, noting that “negotiating positions are still quite tough”, notably on agriculture.

‘Miracle’

During the WTO’s last ministerial meeting, held at its Geneva headquarters in June 2022, trade ministers nailed down a historic deal banning fisheries subsidies harmful to marine life and agreed to a temporary patent waiver for COVID-19 vaccines.

They also committed themselves to re-establishing a dispute settlement system which Washington had brought to a grinding halt in 2019 after years of blocking the appointment of new judges to the WTO’s appeals court.

“Replicating the success, the miracle, of MC12 in 2022 will be extremely challenging,” European Trade Commissioner Valdis Dombrovskis said this month.

“Negotiations on the big-ticket items” — such as fisheries, agriculture and the e-commerce moratorium — will “remain open until the final phase of the conference”, he added.

“Negotiations on dispute settlement reform and potentially some parts of the outcome document will also be challenging.”

However, the WTO faces pressure to eke out progress on reform in Abu Dhabi ahead of the possible re-election of Donald Trump as U.S. President.

During his four years in office from 2017 to 2021, Mr. Trump threatened to pull the United States out of the trade body and disrupted its ability to settle disputes.

“There will be the U.S. elections in November…so this is the last chance,” a diplomatic source in Geneva told AFP on condition of anonymity.

“Postponing anything until after MC13 is not a good strategy.”

Earlier this month, U.S. Trade Representative Katherine Tai underlined Washington’s “commitment to reforming the WTO and creating a more durable multilateral trading system”.

But Olarreaga of the University of Geneva said the other members of the WTO “cannot expect huge concessions” from the administration of U.S. President Joe Biden in an election year.

‘Fragmentation’

While there is doubt over progress at the WTO on major issues such as agriculture, there is hope for small advances on other fronts, particularly aid for developing countries.

On Feb. 26, two new countries, the Comoros and East Timor, are expected to be accepted as WTO members.

More than 120 countries and regions, including China and the European Union, but not the United States, issued a ministerial declaration early on Feb. 26, marking the finalisation of an agreement aimed at facilitating international investments in development.

They also issued a submission requesting the official integration of the deal into the WTO, but some diplomats fear Opposition from India, which rejects any agreement that does not include all member states.

But amid the difficulty of obtaining full consensus, more and more plurilateral agreements — deals with a narrower number of signatories — are being reached, applying only to the participating countries.

Adding to the challenges for those gathering in the U.A.E., is the ongoing war in Gaza and related attacks by Yemeni rebels on ships in the Red Sea, a campaign that has disrupted global maritime trade.

“The current situation is characterised by geopolitical tensions,” said a European diplomat who spoke to AFP on the condition of anonymity.

“High expectations from developing nations following the financial crisis and the Covid-19 pandemic, as well as economic tensions due to inflation… [add to the] risk of fragmentation of the global economy,” the diplomat said.

Panaji:

The Manohar International Airport in North Goa on Monday announced a direct Indigo flight service to Abu Dhabi International Airport (AUH) thrice a week, starting September 2.

A senior official of the airport operator GMR Goa International Airport Limited (GGIAL) said that the inaugural Indigo flight to Abu Dhabi from Manohar International Airport is scheduled for Saturday, September 02, 2023 at 00:25 am.

The flight will reach Abu Dhabi International Airport at 02:15 am.

“The return Indigo flight from AUH will take off at 03:15 AM and touch down at GOX (Manohar International Airport) at 08:10 AM. This remarkable service is set to operate three times a week, on Monday, Thursday, and Saturday,” he added.

GGIAL CEO R V Sheshan said the connection to Abu Dhabi has been introduced as it is a “prominent destination in our ever-expanding international network”.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)