Kenya announced axing multimillion-dollar airport expansion and energy deals with Indian tycoon Gautam Adani
South Asia
leisure and tourism
UAE National Day 2024: dnata reveals weekend offers at luxury Maldives resorts
With travel time of just over four hours, the Maldives continues to be a preferred destination for GCC travellers seeking tropical escapes
India
India’s luxury residential property market sees 23% price surge in H1 2024: Report
The January-June period saw sale of 235,200 units in the high-end segment
Adani Green Energy
Indian billionaire Gautam Adani charged in the US for bribery and fraud
Seven associates, including nephew Sagar, named in bribing Indian officials over $250 million and trying to raise funds in the US on false statements
Bilateral trade
UK to resume trade talks with India, seeks new strategic partnership
India and the UK have been negotiating a Free Trade Agreement (FTA) since January 2022, with talks paused during general elections in both countries earlier this year
India
India overtakes China as top sender of international students to the US in 15 years
India remained the largest source of international graduate (master’s and PhD level) students in the US for the second year
Entertainment industry
Reliance’s Viacom18, Walt Disney India unit merge to create $8.5bn media giant
Reliance and its affiliates will own 63.16% of the combined entity, while Walt Disney will own the remaining 36.84%
ADNOC Gas
ADNOC GAS signs its first LNG SPA with India’s GAIL
The 10-year sales and purchase agreement will start in 2026 and will result in supply of 0.52 mmtpa
influencer
India’s influencer marketing platform KlugKlug announces major expansion plans in MENA and beyond
The company said plans are under way to establish operations in countries such as Saudi Arabia and Kuwait within the next 12 to 18 months
Air India
Inaugural Air India-Vistara flight departs off from Doha
After the merger, Singapore Airlines will hold a 25.1 per cent stake in the Air India-Vistara joint entity.
China
MSCI emerging markets index: India loses top spot to China due to record foreign outflows
China’s weight in the index rose to 24.72% in October from 21.58% in August, driven by a sharp rally in Chinese equities
air travel
India-UAE air travel sees massive 75% festive season surge as travellers seek budget-friendly GCC spots
The spike in festive season travel demand is leading to ticket prices to the UAE climbing by 30–50% already, and are expected to see more highs for year-end travel
Air India
Shake-up in Indian skies: Vistara bids farewell as IndiGo goes premium
The two events taking place days apart are poised to redefine India’s competitive aviation landscape
AD Ports Group
AD Ports Group signs 4 MoUs with Pakistan to boost trade and transport links
AD Ports Group is a major investor in Pakistan, which is a strategic trade gateway to Central Asia and Russia
India
VC funding in Indian startups falls 11% in October 2024 despite keeping billion-dollar levels
Total venture capital funding for the first 10 months of 2024 recorded an increase of over 8 per cent, reaching $11.7 billion
equity market
US elections, Fed meet, tepid earnings sink Indian stock market
Indian equity market benchmark S&P BSE Sensex crashed a whopping 1,409 points – or 1.77% – in early trading hours on Monday
Canada
India-Canada tensions likely to hinder immigration: Report
Canada now has only four immigration officials in India, down from 27 in October 2023, which affects the country’s ability to process visas on-site