BLOOMBERG  Adani Group shares rallied, extending gains spurred by an Indian court panel’s report that found no conclusive evidence of stock-price manipulation as alleged by US short seller Hindenburg Research. The 10 Adani stocks added about $10 billion to their market value in Monday’s session, the biggest increase since Hindenburg’s scathing report in January. Flagship Adani Enterprises Ltd surged about ...

BLOOMBERG  A week after Thailand’s pro-democracy parties garnered an historic win in national elections, investors are getting nervous over the formation of a coalition government. The uncertainty has triggered an outflow of funds since the May 14 poll, worsening the rout in Asia’s worst-performing stock market this year and sending the baht lower against the dollar. While the coalition is ...

SHARJAH / WAM The Sharjah Chamber of Commerce and Industry (SCCI) has announced it will be sending a trade mission to India from May 29 to June 02. Led by the SCCI’s Sharjah Exports Development Centre, the initiative aims to bolster economic and trade cooperation, foster mutual investment, and establish promising partnerships between the emirate of Sharjah and India. Abdullah ...

MILAN / WAM Investopia Europe, which was launched in the Italian trade capital Milan, witnessed the signing of a memorandum of understanding (MoU) between the UAE-based Sharaf Group and the Italian SMAG for cooperation in the field of logistics and shipping services. The MoU is the first partnership facilitated by Investopia Europe during the visit of a high-level UAE delegation ...

ABU DHABI / WAM His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, today arrived in the Malaysian capital Kuala Lumpur on an official visit. HH Sheikh Khaled was received by His Royal Highness Prince Hassanal Ibrahim, Crown Prince of Pahang; and YB Dato’ Seri Diraja Dr Zambry bin Abd Kadir, the Honourable Minister ...

ABU DHABI / WAM Under the patronage of UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan, the 32nd edition of the Abu Dhabi International Book Fair (Adibf) commences on Monday at the Abu Dhabi National Exhibition Centre (Adnec). Organised by the Abu Dhabi Arabic Language Centre (ALC), part of the Department of Culture and Tourism — Abu Dhabi (DCT ...

BLOOMBERG  EasyJet Plc is benefiting from higher ticket prices heading into the peak summer season as the low-cost carrier sets plans to capture a bigger share of the post-pandemic rebound in air travel. Revenue per seat, which includes extras such as baggage fees, is running 20% above year-earlier levels, the UK airline said as it reported better-than-expected first-half results. Leisure ...

BLOOMBERG  Singapore Airlines Ltd will pay staff a bonus of around eight months’ salary after posting a record annual profit. Eligible staff will be paid a profit-sharing bonus equivalent to 6.65 months’ pay, and a maximum of 1.5 months’ salary of ex-gratia bonus in recognition of their hard work and sacrifices during the pandemic, a spokesperson for the airline said. ...

BLOOMBERG  IndiGo reported fourth-quarter profit that missed analysts’ estimates, as rising fuel costs offset the post-Covid travel rebound at India’s largest airline. Net income at parent company InterGlobe Aviation Ltd was 9.16 billion rupees ($111 million) in the period ended in March, short of the 16.2 billion rupees expected by analysts. Revenue from operations surged 77% to 141.6 billion rupees ...

BLOOMBERG  WestJet Airlines Inc, Canada’s second-largest carrier, has begun parking most of its Boeing 737 and 787 jets as it prepares for a possible strike by pilots. The move comes ahead of what is normally a busy holiday long weekend for travel in Canada. Although talks are continuing, the Calgary-based carrier has been unable to reach an agreement with pilots ...