Top headlines: Sri Lanka suspends external debt, Adani 6th richest in world

Biden administration reaffirms its commitment to support India's permanent membership.

Indian billionaire Gautam Adani has become world's sixth-richest person by overtaking Google founders Larry Page and Sergey Brin, according to reports. Sri Lanka's central bank has said that it has become "challenging and impossible" to repay external debts. Read more such top headlines and other information in the section below.

Sri Lanka suspends external debt payments, says needs money for essentials

Sri Lanka's central bank said on Tuesday it had become "challenging and impossible" to repay external debt, as it tries to use its dwindling foreign exchange reserves to import essentials like fuel.
 

The island nation's reserves have slumped more than two-thirds in the past two years, as tax cuts and the COVID-19 pandemic badly hurt its tourism-dependent economy and exposed the government's debt-fuelled spending. Read more

Gautam Adani now world's 6th-richest; pips Google founders Page, Brin
 

With a net worth of $118 billion, Gautam Adani is now the sixth-richest person in the world, according to a report by Times Now. The owner of Adani conglomerate has overtaken the founders of Google, Larry Page and Sergey Brin, according to the Bloomberg Billionaires Index. 
 

The chairman of Adani group saw his wealth rise by Rs 65,091 cr as the share prices of his companies like Adani Green Energy, Adani Enterprises, Adani Gas and Adani Transmission soared on Monday. Read more

Ola CEO Bhavish Aggarwal shifts gear, to focus more on long-term strategy
 

Ola Founder and CEO Bhavish Aggarwal will be stepping away from day-to-day operations of many of the SoftBank-backed mobility firm’s core businesses, according to an internal note. He will instead focus on the engineering, product and team-building of businesses like quick commerce and electric vehicles (EV).

In the note, Aggarwal said that he is expanding Ola group's Chief Financial Officer (CFO) Arun GR’s role to help him drive the day-to-day operations across the group. Read more

US reaffirms support for India's permanent membership in reformed UNSC, NSG
 

The Biden administration has reaffirmed its commitment to support India's permanent membership in a reformed UN Security Council and New Delhi's entry to the Nuclear Suppliers' Group.

The US also praised India for its significant contributions as a member of the 15-membered apex decision making body of the UN. Read more

SC stays NCLAT order in DHFL case on Piramal's appeal

The Supreme Court on Monday stayed the NCLAT order in which it had sent back the Piramal Group’s winning bid for DHFL to the debt-laden finance company’s lenders for reconsidering the valuation.
 

The National Company Law Appellate Tribunal, in January this year, while delivering a judgement on the 63 Moons Technologies petition, had directed the lenders of Dewan Housing Finance Corporation to reconsider their decision regarding the valuation of the financial firm’s avoidable transactions, while approving the insolvency resolution plan submitted by Piramal Capital & Housing Finance. Read more