Kenya Cancels Adani Deals After U.S. Indictments

Kenyan President William Ruto has announced the cancellation of major infrastructure deals with India's Adani Group following U.S. indictments against its founder, Gautam Adani, for bribery and fraud. The cancelled projects, worth over $2.5 billion, included the expansion of Nairobi's main airport and construction of power transmission lines. Ruto cited new information from investigative agencies and partner nations as the reason for the cancellation. The deals had been criticized for lack of transparency and potential negative impacts on local employment. Adani's legal troubles have also affected his company's stock, which saw significant declines following the U.S. charges. The Adani Group has denied the allegations and promised to pursue legal recourse.