Daily Business Wrap - Jet Airways grounded in Abu Dhabi - video Dailymotion

Gulf News

Abu Dhabi is one of the two international hubs of Jet Airways. Dutch capital Amsterdam is the European gateway for the airline for its operations to Europe and beyond.

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00:00Hello and welcome to Gulf News Daily Business Wrap-Up.

00:04Cash-strapped Jet Airways has grounded its operations from Abu Dhabi due to non-payment

00:09of lease rentals.

00:11The total number of flights that have been grounded were four, taking the total to 41.

00:15Remember that Jet Airways were strapped for cash and were sourcing new funds from the

00:22market.

00:23Holdings by foreign investors could double to 10 per cent in Saudi companies, according

00:28to Tadawul's chief executive officer, from the current 5.9 per cent.

00:34Remember that today is the day when Saudi Arabia's Tadawul will be officially joining

00:38the FTSE Emerging Market Index, having a weightage of 2.9 per cent.

00:44The Tadawul index has risen about 9 per cent since the start of the year, and analysts

00:49are bullish on Saudi stocks surging ahead.

00:53In other news, the European Union will be pressing its Chinese counterpart for a deadline

01:00to open up the Chinese economy for European Union companies.

01:04They will be meeting on April 9 for a summit in Brussels.

Daily Business Wrap - Jet Airways grounded in Abu Dhabi

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