The sell-off in India's Adani Group's seven listed companies, where more than $110 billion in market value has already evaporated, continued on Monday as a US short-seller's report critical of the group's finances now led to credit warnings.
Ratings agency Moody's warned on Friday that the group may struggle to raise capital and S&P cut its outlook on two group companies, the latest fallout of Hindenburg Research's January 24 report that questioned the conglomerate's debt levels and use of tax havens.
Shares of Adani Enterprises Ltd sank 9.6 per cent on Monday, taking the group's flagship company's losses to nearly $28 billion since the report.
Adani Transmission Ltd dropped 10 per cent, while Adani Green Energy Ltd, Adani Total Gas Ltd, Adani Power, and Adani Wilmar fell roughly 5 per cent.
Adani Ports and Special Economic Zone was the only stock in green, with a 1.2 per cent rise.
India's market regulator moved to calm investor concerns on Saturday, saying that its financial markets remain stable and continue to function in a transparent and efficient manner, despite recent dramatic stock falls in Adani Group companies.
There is no immediate plan to shut down Carrefour in the UAE, Majid Al Futtaim's CEO of Retail, Dr. Günther Helm, confirmed days after they shuttered operations in Kuwait and Bahrain.
Meta Platforms launched its first consumer-ready smart glasses with a built-in display on Wednesday, seeking to extend the momentum of its Ray-Ban line, one of the early consumer hits of the artificial intelligence era.
Dubai has cemented its position as a top maritime hub, earning the title 'Crown Jewel of the Middle East’s Maritime Sector' in the 2025 International Shipping Centre Development Index.
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, met with his core team during an annual gathering at the Museum of the Future.
The Mohammed Bin Rashid Space Centre (MBRSC) is strengthening its partnership with France’s national space agency, CNES, as preparations ramp up for the Emirates Lunar Mission’s Rashid Rover 2, set to launch to the Moon in 2026.
Dubai Police are warning the public about fake links circulating online and on social media, falsely promoting Global Village VIP packs at discounted prices.