Top story: Total’s investment with Adani Group has been called into question after allegations of fraud at the Indian conglomerate. Image via Mercury Bloomberg.
France’s TotalEnergies has halted a planned $4bn green hydrogen investment with the beleaguered Indian conglomerate Adani Group, the energy titan told reporters at the Financial Times.
Total said on February 8 that it would not immediately proceed with its 25% stake in Adani New Industries Ltd, a hydrogen co-development with Adani Enterprises. Adani Group has come under fire after accusations of endemic fraud and stock manipulation made by Hindenburg Research, a New York-based group focused on finding corporate wrongdoings and making bets against companies. Adani Group denies the allegations.
Taiwan and Canada talk trade
Formal negotiations on bilateral trade and investment will begin between Taiwan and Canada, despite Chinese opposition to Taipei’s courting of Western governments.
In a virtual meeting on February 7, Canada’s Minister for International Trade, Mary Ng, agreed with Taiwanese trade negotiator Deng Zhenzhong, to begin formal talks on investment promotion, protection and liberalisation. This comes six months after initial discussions began in June 2022.
Ms Ng highlighted Taiwan’s key position as a trade partner, particularly in agriculture and advanced manufacturing, a government statement said, as Canada “deepens” economic partnerships in the Indo-Pacific.