Qatar Financial News

MUMBAI : Kempas Trade and Investment Ltd, a promoter entity of Adani Group’s listed flagship Adani Enterprises Ltd, on Monday, said the entity has bought a 2.22% stake in the company from open market between 7 August and 18 August, according to regulatory filings. The stake purchase could be worth ₹6,348.12 crore according to the volume weighted average price of Adani Enterprises during that period. With latest purchase, Kempas Trade and Investment’s promoter stake in AEL has risen to 69.87% from 67.65%.

MUMBAI : Kempas Trade and Investment Ltd, a promoter entity of Adani Group’s listed flagship Adani Enterprises Ltd., on Monday, said the entity has bought a 2.22% stake in the company from open market between 7 August and 18 August, according to regulatory filings. The stake purchase could be worth Rs. 6,348.12 crore according to the volume weighted average price of Adani Enterprises during the said period.

₹6,348.12 crore according to the volume weighted average price of Adani Enterprises during the period. With the latest purchase, Kempas Trade and Investment’s total promoter stake in AEL has increased to 69.87% from 67.65% earlier.

MUMBAI : Promoters of the Adani group have generated ₹39,400 crore through stake dilutions in group companies since a damning report by US short-seller Hindenburg Research in January drove flagship Adani Enterprises Ltd to withdraw its ₹20,000 crore follow-on public offering. The group has denied the allegations. Market veterans believe this liquidity could be used as growth spending and to repay any near-term debt obligations of group companies if needed.

NEW DELHI : Inward foreign remittances to India grew 26% in the last financial year to $112.5 billion, clocking its highest growth in the last five years amid a rebound in economic recovery after the pandemic, showed latest data from the finance ministry. Inward foreign remittances stood at $89.1 billion in FY22, $80.2 billion in FY21, $83.2 billion in FY20, and $76.4 billion in FY19.

Qantas’ investments in its fleet have been made at “a significant cost” and the aviation industry is still struggling to bring back capacity, meaning the government must prioritise protecting aviation jobs over its obligations to consumers, the transport minister says.

The Paris Saint-Germain experiment of recent seasons was supposed to be a plan so lavish and so ambitious that it would bend all of European soccer to PSG’s will. By the summer of 2021, the club had acquired the most expensive player in the world, the brightest young talent in the world and one of the greatest players of all time. That trio of Neymar, Kylian Mbappé, and Lionel Messi had cost more than half a billion dollars to assemble.

Gautam Adani's renewable energy company is targeting to set up 45 gigawatts (GW) of renewable energy capacity by 2030, as it looks to cut emissions and help India meet its carbon neutrality target. Adani Green Energy Ltd has 8,316 megawatts (8.3 GW) of operational renewable energy capacity and another 12,118 MW either nearing construction or under execution, sources close to the company said. The target is to take this 20,434 MW (operational plus under execution projects) to 45,000 MW or 45 GW by 2030, they said, adding AGEL is looking to build roughly 3 GW of capacity to generate electricity from solar and wind energy every year.

Exporters as well as travellers would benefit from expanding flights to Australia, especially from the Asia-Pacific and the Middle East, Melbourne Airport’s chief executive said.

Iran reached a tentative agreement this week that will eventually see five detained Americans in Iran and an unknown number of Iranians imprisoned in the U.S. released from custody after billions of dollars in frozen Iranian assets are transferred from banks in South Korea to Qatar. The complex deal — which came together after months of indirect negotiations between U.S.

Qatar and Etihad have become an unstoppable force in the global aviation industry much because of the location of their home bases in the Gulf. Their geographical positioning allows them to transfer big chunks of passengers between Asia, Africa and Europe. These are also state-owned carriers of energy-producing countries, which makes them ferocious price warriors in transcontinental travel.

A union-backed inquiry into price gouging led by former competition watchdog boss Alan Fels will specifically examine Qantas and the aviation sector, ACTU secretary Sally McManus said.

Blocking Qatar Airways from adding flights will cost the economy more than $500 million a year in tourism revenue, according to industry modelling, but Transport Minister Catherine King told parliament the decision was made to protect local jobs.

Mbappe hangs over French football ahead of the new Ligue 1 season, which starts this weekend. The Paris Saint-Germain superstar has won France's player of the year award four times in a row and been Ligue 1's top scorer in five straight seasons, but his contract dispute with the champions has dominated headlines all summer. Mbappe has refused to sign an extension to his PSG deal, meaning he can leave for free next year, with Real Madrid long seen as his preferred destination.

ICICI Bank announced the launch of 'Monsoon Bonanza' on August 8 to provide customers with a wide range of deals and discounts across categories including laptops, flights, mobile phones, hotel bookings, among others. The private lender is offering discounts and cashback of up to 50 percent, which can be availed using the bank’s credit or debit cards and internet banking. EMI offers are also available on credit and debit cards.

Adani GreenPromoter entity Infinite Trade And Investment has sold partial stake in Adani Green through bulk deals on Monday, while a Qatar-based sovereign fund bought some shares.HDFC BankHDFC Bank’s investability weighting in FTSE Emerging All Cap index has increased to 1.52% from 0.81%, following the merger with HDFC.PB FintechPB Fintech Ltd, which runs Policybazaar and Paisabazaar, has narrowed its losses substantially to Rs 11.9 crore in the first quarter. Operating revenue rose 32% to Rs 666 crore.Read more: What changed the market while you were sleepingAdani Ports, Coal India, Siemens, HindalcoShares of Adani Ports, Coal India, Siemens, and Hindalco will be in focus as the companies will announce their first quarter results.BEMLBEML has secured the letter of acceptance (LoA) from Bangalore Metro Rail Corp for supply of Rolling stock contract 5RS-DM valued at Rs 3,177 crore.Inox WindPromoter entity will likely sell shares worth Rs 500 crore in Inox Wind via block deal tomorrow, according to reports.Godrej ConsumerGodrej Consumer's sales rose 10% led by volume growth of 10% in the first quarter.

MUMBAI : The promoters of Adani Group raised about $500 million by selling a part of their holdings in Adani Green Energy Ltd to investors, including INQ Holding Llc, a wholly owned unit of sovereign fund Qatar Investment Authority (QIA). This is one of the several recent stake sales by billionaire Gautam Adani aimed at cutting promoter-level debt and releasing stock pledges. At current market prices, around ₹31,095 crore ($3.75 billion) is required by the promoters to release the shares pledged by the promoters in five key group firms.

Adani Green Energy Ltd totalling more than 2.5% for over USD 500 million, as per industry sources cited by PTI in its news report. The ESG-focused (environmental, social, and governance) fund has reportedly made two investments in Adani Group companies, the first being Adani Electricity Mumbai Ltd. (AEML).

Infinite Trade And Investment has sold partial stake in Adani Green through bulk deals on Monday, while a Qatar-based sovereign fund bought some shares. According to bulk deals data available with the exchanges, Infinite trade has offloaded 4.2 crore shares in the company at a weighted average price of Rs 920 apiece. Through the sale, the promoter entity bagged Rs 3,919 crore.

Mint. “Next step will be codeshare with Indian companies," Moussa said, adding that the airline is getting ready to initiate discussions for a codeshare as part of the strategy going forward. The airline will operate the direct flight between New Delhi and Cairo four times a week in an Airbus A320neo with a two-cabin service.

Alan Joyce on Thursday dismissed as “nonsense” the suggestion Qantas exchanges benefits for favours from the Albanese government, and declined to comment on who gets access to the airline’s coveted Chairman’s Lounge.