A U.S. agency said on Sunday that it is reviewing the impact of Department of Justice bribery allegations against the founder of India's Adani Group on the agency's prior agreement to lend more than $550 million to a Sri Lankan port development backed by the group.

The U.S. International Development Finance Corp last November said it would&nbsp;provide&nbsp;$553 million in financing for the port terminal project in Colombo, the capital of Sri Lanka. The project is partly owned by the Adani Group.

Also Read:&nbsp;<a href="https://www.wionews.com/business-economy/bribery-allegations-rock-adani-group-global-projects-in-the-spotlight-779001">Bribery allegations rock Adani group: global projects in the spotlight</a>

Federal prosecutors in New York on Wednesday announced that Gautam Adani, the billionaire founder of the Adani Group, and seven other individuals had been&nbsp;indicted on charges&nbsp;of paying about $265 billion in bribes to Indian government officials to obtain contracts expected to yield $2 billion of profit over 20 years and develop India's largest solar power plant project.

"DFC is aware of the recent allegations related to Adani and is actively assessing the ramifications in light of the recent DOJ announcement," an official with the development agency said in a statement.

Watch:&nbsp;Gautam Adani Indictment: Adani to Respond After Legal Review

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"We are committed to ensuring that our projects and partners uphold the highest standards of integrity and compliance," the official said. 
The agency said that no funds have yet been disbursed under the loan commitment.

Bloomberg News first reported the news on the DFC on Sunday.

The Adani Group did not immediately respond to requests for comment outside regular business hours on Sunday.

The Adani Group has said the Justice Department accusations as well as those levelled by the U.S. Securities and Exchange Commission in a parallel civil case are "baseless and denied" and said it will seek "all possible legal recourse."

A U.S. agency said on Sunday that it is reviewing the impact of Department of Justice bribery allegations against the founder of India's Adani Group on the agency's prior agreement to lend more than $550 million to a Sri Lankan port development backed by the group.

A U.S. agency said on Sunday that it is reviewing the impact of Department of Justice bribery allegations against the founder of India's Adani Group on the agency's prior agreement to lend more than $550 million to a Sri Lankan port development backed by the group. The U.S. International Development Finance Corp last November said it would provide $553 million in financing for the port terminal project in Colombo, the capital of Sri Lanka. The project is partly owned by the Adani Group. Also Read: Bribery allegations rock Adani group: global projects in the spotlight Federal prosecutors in New York on Wednesday announced that Gautam Adani, the billionaire founder of the Adani Group, and seven other individuals had been indicted on charges of paying about $265 billion in bribes to Indian government officials to obtain contracts expected to yield $2 billion of profit over 20 years and develop India's largest solar power plant project. "DFC is aware of the recent allegations related to Adani and is actively assessing the ramifications in light of the recent DOJ announcement," an official with the development agency said in a statement. Watch: Gautam Adani Indictment: Adani to Respond After Legal Review "We are committed to ensuring that our projects and partners uphold the highest standards of integrity and compliance," the official said. The agency said that no funds have yet been disbursed under the loan commitment. Bloomberg News first reported the news on the DFC on Sunday. The Adani Group did not immediately respond to requests for comment outside regular business hours on Sunday. The Adani Group has said the Justice Department accusations as well as those levelled by the U.S. Securities and Exchange Commission in a parallel civil case are "baseless and denied" and said it will seek "all possible legal recourse."

US development agency says 'assessing ramifications' on Sri Lanka project of Adani

A new study confirmed that the Gulf Stream is certainly weakening. The warm water's flow through the Florida Straits has slowed by 4 per cent in the last four decades, with grave implications for the climate of the world.&nbsp;

The ocean current begins near Florida and a stream of warm water flows along the U.S. East Coast and Canada before it crosses the Atlantic to Europe. The heat that the stream is transporting is important for regulating sea levels and maintaining temperate conditions.&nbsp;

However, this stream has slowed down, wrote the researchers in a study which was published in the journal Geophysical Research Letters on September 25.

"This is the strongest, most definitive evidence we have of the weakening of this climatically-relevant ocean current," stated lead author Christopher Piecuch, a physical oceanographer at the Woods Hole Oceanographic Institution in Massachusetts, in a statement.

ALSO READ |&nbsp;<a href="https://www.wionews.com/trending/study-reveals-latest-suvs-emit-more-climate-damaging-gases-than-older-ones-647487">Study reveals latest SUV models emit more climate damaging gases than older ones</a>

The Gulf Stream is only a small component of the thermohaline circulation which is a global conveyor belt of ocean currents that has been moving carbon, heat, nutrients and oxygen around the globe, while also contributing to controlling hurricane activity and sea levels.&nbsp;

<h2>Gulf Stream maintaining&nbsp;temperatures across US East Coast</h2>

The Gulf Stream, which begins in the Caribbean before it flows out into the Atlantic via the Florida Straits, brings warmer southerly waters (which are saltier and denser) northward for cooling and sinking in the North Atlantic. After it drops deep inside the ocean and releases its heat into the atmosphere, the water drifts southward slowly, where it again heats up and the cycle repeats.

This process is important for maintaining sea levels and temperatures across the US East Coast - whose waters were kept to 5 feet (1.5 metres) lower than the water further offshore by the current's sweeping motion.

WATCH |&nbsp;Nations voice their concerns about climate change | WION Climate Tracker

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As the climate of the Earth warms, a huge influx of cold, fresh water from melting ice sheets spills into oceans, possibly leading to the Gulf Stream to slow or even move towards outright collapse, as per the scientists. However, it is hard to prove because of the complexity and scale of the system.&nbsp;

In search for definitive evidence that the stream has been slowing, the scientists looked into data which spanned 40 years and was collected from three separate sources — observations made on site, undersea cables and satellite altimetry &nbsp;— to look into the motions of the current around the Florida Straits.

(With inputs from agencies)

You can&nbsp;now write for wionews.com&nbsp;and be a part of the community. Share your stories and opinions with us&nbsp;<a href="https://www.wionews.com/content-contribution-registration-form">here</a>.

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A new study confirmed that the Gulf Stream is certainly weakening. The warm water's flow through the Florida Straits has slowed by 4 per cent in the last four decades, with grave implications for the climate of the world.

A new study confirmed that the Gulf Stream is certainly weakening. The warm water's flow through the Florida Straits has slowed by 4 per cent in the last four decades, with grave implications for the climate of the world. The ocean current begins near Florida and a stream of warm water flows along the U.S. East Coast and Canada before it crosses the Atlantic to Europe. The heat that the stream is transporting is important for regulating sea levels and maintaining temperate conditions. However, this stream has slowed down, wrote the researchers in a study which was published in the journal Geophysical Research Letters on September 25. "This is the strongest, most definitive evidence we have of the weakening of this climatically-relevant ocean current," stated lead author Christopher Piecuch, a physical oceanographer at the Woods Hole Oceanographic Institution in Massachusetts, in a statement. ALSO READ | Study reveals latest SUV models emit more climate damaging gases than older ones The Gulf Stream is only a small component of the thermohaline circulation which is a global conveyor belt of ocean currents that has been moving carbon, heat, nutrients and oxygen around the globe, while also contributing to controlling hurricane activity and sea levels. Gulf Stream maintaining temperatures across US East Coast The Gulf Stream, which begins in the Caribbean before it flows out into the Atlantic via the Florida Straits, brings warmer southerly waters (which are saltier and denser) northward for cooling and sinking in the North Atlantic. After it drops deep inside the ocean and releases its heat into the atmosphere, the water drifts southward slowly, where it again heats up and the cycle repeats. This process is important for maintaining sea levels and temperatures across the US East Coast - whose waters were kept to 5 feet (1.5 metres) lower than the water further offshore by the current's sweeping motion. WATCH | Nations voice their concerns about climate change | WION Climate Tracker As the climate of the Earth warms, a huge influx of cold, fresh water from melting ice sheets spills into oceans, possibly leading to the Gulf Stream to slow or even move towards outright collapse, as per the scientists. However, it is hard to prove because of the complexity and scale of the system. In search for definitive evidence that the stream has been slowing, the scientists looked into data which spanned 40 years and was collected from three separate sources — observations made on site, undersea cables and satellite altimetry — to look into the motions of the current around the Florida Straits. (With inputs from agencies) You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE

Weakening of Gulf Stream 99 per cent certain, ramifications to be global: Study

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