Daily Business Wrap - Bidding starts for debt-laden Jet Airways - video Dailymotion

Companies submit expressions of interest in buying stakes in India's Jet Airways, and the US Federal Reserve maintains its dovish forecast.

Transcript

00:00It looks like India's Jet Airways is still flying in dangerous territory as the airline

00:06looks for investors to take some stakes in it.

00:08Indian media reported on Thursday that as many as five companies have expressed interest

00:13in taking stakes in Jet Airways, but Etihad Airways of Abu Dhabi was not one of them.

00:18Etihad Airways, which already owns a 24% stake in Jet Airways, is refusing to comment on

00:23any decisions regarding that matter.

00:25Meanwhile, Indian media is reporting that the interest shown by some of the five investors

00:29is either not serious or lacks vital details.

00:32Jet Airways is currently trying to come up with a turnaround plan as its debts pile and

00:36as its aircraft fleet remains grounded for failure to pay the lease on them.

00:40And in other news, the U.S. Federal Reserve is keeping its dovish forecast for interest

00:44rates in 2019, saying that it is unlikely to change rates this year due to risks to

00:50the U.S. economy.

00:51The Fed cited the global economic slowdown and uncertainty over trade policies as some

00:55of those risks facing the U.S.

00:57Some policymakers at the Federal Reserve even said they may change their minds on whether

01:01the Fed's next move should be to raise or lower interest rates.

01:04Financial markets did not react much to these news.

01:07For more information on these stories and more, please check us out at gulfnews.com

01:10forward slash business.

01:12This has been the Daily Business Wrap.

01:13Thank you so much for watching.