Your Tuesday Briefing: A Bombing in Pakistan - The New York Times

Your Tuesday Briefing: A Bombing in Pakistan

And the allegations are highlighting Adani’s ties to Narendra Modi, the prime minister. Both men came up in Gujarat. Adani helped Modi reshape his image when the Hindu-Muslim riots of 2002, and his empire has recently won a number of government concessions. But Modi and his government have stayed out of the fight.

Background: Hindenburg Research, a short seller that has made a name for itself taking on S.P.A.C.s and crypto firms, had said that Adani Group had perpetrated “the largest con in corporate history.”

Reaction: For now, investors seem to be siding with Hindenburg. The claims could damage Adani Group’s goal of raising $2.5 billion over a stock offering, which closes today.

Rebuttal: Adani Group said the claims amounted to a “calculated fight on India.” Hindenburg stood by its report, saying “fraud cannot be obfuscated by nationalism.”

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SRC: https://www.nytimes.com/2023/01/30/briefing/peshawar-pakistan-bombing-asia.html