Jet Airways India jumped as much as 4.1 per cent on a report that Etihad Airways is seeking to increase its 24 per cent stake in the company.
The shares were trading 1.3 per cent higher at 282.4 rupees as of 3.24pm in Mumbai after Bloomberg TV India said Etihad approached the aviation ministry for permission.
Etihad, however, has denied the report.
“While it is not normally our policy to comment on media speculation, the simple fact is the Bloomberg story is wrong. We are not in discussions with the government about raising our stake in Jet Airways,” an Etihad spokesperson said.
The report, citing unnamed government sources, also said the administration is not keen on approving a higher shareholding.
A Jet Airways spokesman also denied the report.
“We wish to state that certain media reports about Etihad Airways approaching the Government of India seeking to raise its stake in Jet Airways are incorrect.”
Jet Airways closed its budget units at the end of last year as it sought to make a profit in its local operations, after warning it may not make money until 2017. It hasn’t reported a full-year profit since the year ended March 2008, according to data compiled by Bloomberg.
Mumbai-based Jet Airways sold a 24 per cent stake to Etihad Airways in 2013, becoming the first Indian carrier to receive investments from a foreign airline after the government relaxed rules. It now faces greater competition after the local ventures of AirAsia and Singapore Airlines started flights in recent months.
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Results:
Men’s wheelchair 200m T34: 1. Walid Ktila (TUN) 27.14; 2. Mohammed Al Hammadi (UAE) 27.81; 3. Rheed McCracken (AUS) 27.81.
Company Profile
Founders: Tamara Hachem and Yazid Erman
Based: Dubai
Launched: September 2019
Sector: health technology
Stage: seed
Investors: Oman Technology Fund, angel investor and grants from Sharjah's Sheraa and Ma'an Abu Dhabi
EMERGENCY PHONE NUMBERS
Estijaba – 8001717 – number to call to request coronavirus testing
Ministry of Health and Prevention – 80011111
Dubai Health Authority – 800342 – The number to book a free video or voice consultation with a doctor or connect to a local health centre
Emirates airline – 600555555
Etihad Airways – 600555666
Ambulance – 998
Knowledge and Human Development Authority – 8005432 ext. 4 for Covid-19 queries
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Match info
Uefa Nations League Group B:
England v Spain, Saturday, 11.45pm (UAE)
Have you been targeted?
Tuan Phan of SimplyFI.org lists five signs you have been mis-sold to:
1. Your pension fund has been placed inside an offshore insurance wrapper with a hefty upfront commission.
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5. Total annual management cost for your pension account is 2 per cent or more, including platform, underlying fund and advice charges.
The Case For Trump
By Victor Davis Hanson
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Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Tips for job-seekers
- Do not submit your application through the Easy Apply button on LinkedIn. Employers receive between 600 and 800 replies for each job advert on the platform. If you are the right fit for a job, connect to a relevant person in the company on LinkedIn and send them a direct message.
- Make sure you are an exact fit for the job advertised. If you are an HR manager with five years’ experience in retail and the job requires a similar candidate with five years’ experience in consumer, you should apply. But if you have no experience in HR, do not apply for the job.
David Mackenzie, founder of recruitment agency Mackenzie Jones Middle East