abu dhabi


Malaysia's former PM Najib Razak to go on trial on February 12

Aug 10 2018

Former Malaysian Prime Minister Najib Razak will go on trial on February 12 next year on charges linked to a multi-billion-dollar scandal at state fund 1Malaysia Development Berhad (1MDB), a court ruled.

Malaysia's former PM Najib to be charged with money laundering

Aug 07 2018

Malaysia’s embattled former prime minister Najib Razak will be charged on Wednesday under a money-laundering act, the anti-graft agency said, in connection with a multi-billion-dollar scandal at state fund 1Malaysia Development Berhad (1MDB).

Switzerland investigates six for suspected bribery of foreign officials in 1MDB probe

Jul 10 2018

Switzerland is investigating six people on suspicion of bribing foreign officials and other offences, as part of a money laundering investigation into Malaysian state fund 1MDB, the Swiss attorney general’s office said.

Saudi-led coalition faces stalemate in Yemen's main port city

Jul 09 2018

A Saudi-led coalition has made no major gains in its offensive to wrest control of Yemen’s Hodeidah port from the Iran-aligned Houthis, leaving it without the decisive increase in leverage it had sought against the group in U.N.-sponsored peace efforts.

Etihad slims down as Abu Dhabi trims its air travel ambitions

Jul 03 2018

Douglas said the state-owned airline was becoming “more rational” and would not shy away from dropping routes that were commercially unsustainable.

Norway Supreme Court rules in favour of state in pipeline tariffs case

Jun 28 2018

The Norwegian Supreme Court has ruled in favour of the government in a lawsuit brought by owners of the Gassled gas network over pipeline tariffs, it said.

OVL gets first equity oil from Abu Dhabi field

Jun 08 2018

ONGC Videsh Ltd today said it has received the first ever equity oil cargo from Abu Dhabi's Lower Zakum oilfield, where it had recently bought stake.

Uber in talks to resume services in Abu Dhabi: Transport official

May 29 2018

Uber Technologies [UBER.UL] is in talks to resume services in Abu Dhabi after a nearly two-year suspension, a transport official said.

NIIF: FinMin, investors talk to set up strategic investment fund

May 27 2018

The FinMin is planning to set up a fund under the National Investment and Infrastructure Fund (NIIF) dedicated for strategic investments.

Najib's government deceived parliament over Malaysia's finances

May 22 2018

Malaysia’s previous government deceived the public and parliament over the country’s financial situation and state fund 1Malaysia Development Berhad (1MDB).

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Stocks In News



Aircel moves SC to make Airtel clear dues

Alleges that the co withholding Rs453 Cr of bank guarantees paid on its behalf

Bank guarantees have lapsed and Aircel wants Airtel to pay the money

Alleged that Airtel is trying to usurp the sum

Aircel says without the money it may get liquidated

ET reports


Bain joins KKR in race for Max Healthcare stake

PE firms look to buy 47% stake from Life Healthcare for $450-540 Mn

ET reports


To decide on buy back of shares on Aug. 20


Co planning $400 Mn stake sale is speculative in nature

Jet Auditor BSR may quit if issues are not resolved is factually incorrect

Have been pro-actively working on multiple revenue enhancements

Evaluating various funding options to meet liquidity requirements on priority

Relationship with Etihad Airways very strong

No delays in discharging any loan obligations to any of the lenders

Default status in tabular statement only due to technical errors, rectified now

Clarifies that reports of stake sale are purely speculative

Also Clarifies that rumors of auditor quitting if issues not solved are factually incorrect

Seeks lenders help in bid to avoid default

Airline wants waiver of loan covenant on existing debt facility of $185mn

Co has to repay or refinance at least $500mn of existing debt to avoid default

Told lenders it won’t be able to meet min $50mn profit condition for FY19

Consortium of lenders yet to decide on Jet’s request

Airline’s total debt was Rs 9430 Cr as on 31st March 18

Mint reports


Have noticed a difference in your responses dated August 9 & 10

Clarify whether mgmt extension from audit committee as per Aug 10 response

Or did Audit Committee not recommend results to board as per Aug 9 response?

In Aug 10 response, details of "Certain Matters Not Closed" not provided

Provide exact reasons for which audit committee has not approved results

Again ask you to give us date when board meet to consider results will be held

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