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Abu Dhabi sovereign wealth fund Mubadala is exploring a full exit from its Turkish operations with Getir, which would include its delivery, financing and car-rental units, say people familiar with the matter. It is in advanced negotiations to offload Getir Arac, the car-rental arm, to Turkish firm Tiktak. Other units, including Getir Finans and the main delivery business, are also under consideration for sale.

Mubadala is Getir’s largest shareholder and obtained controlling interests across Getir’s Turkish subsidiaries in 2021 and 2024. The fund’s deliberations follow an ongoing dispute with the founders of Getir over how the company should be restructured. The founders resisted Mubadala’s plans, describing some actions by the fund as an “illegal coup”, and launched legal challenges in the Netherlands and elsewhere. The courts have, in some instances, sided with Mubadala.

Talks on Getir Arac are said to be well-advanced, although Tiktak has declined to comment. Meanwhile, in the delivery business, U. S.-based DoorDash has been identified as one of the potential buyers, among others. The details of ownership stakes in each Getir unit—delivery, financing, car rental—remain unclear. Mubadala has not offered public comment on these possible divestments.

Getir’s financial trajectory has weakened since its peak valuation of approximately $12 billion in 2022. The company expanded rapidly during the pandemic across several Western European markets and into North America, only to withdraw from those operations as demand waned and operational costs rose. As part of restructuring, non-core businesses were intended to be separated from profitable local grocery delivery operations.

Creditors who complete required verification on FTX’s claims portal and comply with tax documentation will receive payouts via service providers BitGo, Kraken, or Payoneer. Funds are expected to arrive in accounts within three business days after distribution.

Class-5B U. S. customer entitlement claims will receive 40% in this round, elevating their cumulative recovery to 95%. “Dotcom” customers will obtain an additional 6%, bringing their total recovery to 78%. General unsecured and digital asset loan claims will be paid 24%, lifting them to 85% total recovery. Convenience claims will be paid at 120%, exceeding their original declared amounts.

To date, over $6 billion has been repaid to creditors across prior distributions under the plan.

The distributions are being overseen by the FTX Recovery Trust, which is executing on its court-approved strategy to restore assets and settle claims. The plan reflects a structured priority of classes: senior claims and verified claims first, with smaller or “convenience” classes handled in earlier rounds. Sam Bankman-Fried, FTX’s founder, is serving a 25-year sentence for fraud and conspiracy tied to the exchange’s collapse.

Flydubai began service to Iași in Romania with twice-weekly flights, making it the first carrier from the United Arab Emirates to connect Dubai directly with Romania’s cultural capital of Moldavia. The new route operates on Tuesdays and Fridays between Dubai International’s Terminal 2 and Iași International Airport.

The airline is also scaling up its operations to Bucharest, moving from three weekly flights to three daily services, which will bring the weekly frequency between Dubai and the Romanian capital to 21 flights.

Flydubai has placed Iași as its second Romanian destination, following Bucharest, and has already expanded into the neighbouring region with the launch of flights to Chișinău in Moldova. Further expansion for Europe includes planned routes to Vilnius and Riga later in the year.

Jeyhun Efendi, Divisional Senior Vice President of Commercial Operations and E-commerce at Flydubai, said growth in Romania has averaged about 16 per cent annually on the Bucharest route since flights launched in 2012. He expressed confidence that the new Iași service and increased frequency to Bucharest will offer passengers more convenience and opportunities for both cultural and business travel.

Romeo Vatră, General Manager of Iași Airport, described the route’s inauguration as a “significant milestone”, noting that Iași becomes the only airport in the Moldova region with a direct link to the United Arab Emirates.

Fare details were published: return fares in Business Class from Dubai to Iași start from AED 8,000, while in Economy Lite they begin at AED 1,600. In the reverse direction, prices start at EUR 2,000 and EUR 380 respectively.

By D Raja The Twenty-Fifth Congress of the Communist Party of India will convene in Chandigarh from September 21, 2025, at Suravaram Sudhakar Reddy Nagar (Kisan Bhawan). We gather at a moment of extraordinary circumstances. Punjab is reeling under devastating floods. Fields are submerged, homes are damaged, and livelihoods are disrupted. Yet, our comrades in […]

The article Why The 25th Congress Of CPI On September 21-25 In Chandigarh Is Significant In Indian Politics? appeared first on Latest India news, analysis and reports on IPA Newspack.

Shares in Santos plunged by up to 13.6% as the Abu Dhabi National Oil Company-backed XRG consortium formally withdrew its A$36.4 billion takeover offer, stating it could not reach agreement with Santos on critical commercial terms.

The consortium, which includes ADQ and Carlyle alongside XRG, had proposed A$8.89 per share in June, equivalent to US$5.76 at the time. Santos had adjusted that for a dividend and told XRG on Monday that it was prepared to accept US$5.626 per share.

This marks the third unsuccessful major offer for Santos over seven years, including a rejected bid from Harbour Energy in 2018 and abandoned merger talks with Woodside Energy. Analysts warn that repeated deal failures erode investor confidence in the company’s ability to seal a large-scale acquisition.

Investor concern was immediately reflected in the market. Santos shares dropped to A$6.61 in early trading, their lowest level since June 10, as the premium embedded in the bid evaporated. The benchmark S&P/ASX200 index was marginally down.

Analysts and banks responded by downgrading the stock. Jarden cut its rating from “overweight” to “underweight”, lowering its 12-month target from A$8.40 to A$7.05 per share. turn0news10turn0search1turn0search2

Santos leadership emphasised its strong project pipeline, pointing to the Barossa gas project in northern Australia and the Pikka oil venture in Alaska as key future growth drivers. Company chair Keith Spence reiterated that Santos has a clear strategy to generate cash, reward shareholders, reinvest in infrastructure and grow production while maintaining safety and reliability.

XRG stated that a “combination of factors, when considered collectively, have impacted the Consortium’s assessment of its indicative offer”, including inability to agree on terms under the Scheme Implementation Agreement. Among sticking points was the demand that the consortium assume certain regulatory and tax-risk obligations, which XRG considered unacceptable.

/India Press Agency/

By Nitya Chakraborty Prime Minister Narendra Modi has stepped into his 75th year on Wednesday, September 17.His birthday is being celebrated by the BJP nationally. The significance is much more as PM’s 75th birthday celebrations have coincided with the centenary programmes on the founding of the RSS in 1925.On October 2 this year, Vijaya Dasami […]

The article Decoding Prime Minister Narendra Modi As A Political Leader On His 75th Birthday appeared first on Latest India news, analysis and reports on IPA Newspack.

Hong Kong’s technology sector soared as benchmarks hit their highest point since 2021, supported by mounting investor confidence in China’s artificial intelligence ambitions. The Hang Seng Tech Index jumped about 4.2%, reaching a level not seen since November 2021, while Alibaba, Baidu and other major players saw robust gains on optimism around AI innovation.

Baidu led the charge, climbing roughly 16% in Hong Kong trading—its biggest surge since March 2022—as analysts upgraded its outlook in light of growing belief in its chip-development strategy. Alibaba also rose strongly; its Hong Kong-listed shares have reached levels unseen since late 2021, bolstered by its expanding cloud and AI-linked operations. Market watchers noted increasing activity in China Unicom and internal chip design projects contributing to the momentum.

This surge comes amid broader trends: domestic AI developers are accelerating roll-outs of proprietary chips, cloud computing investment is rising, and regulatory signals suggest stronger support for technology self-reliance. Meanwhile, progress in international matters—such as negotiations over TikTok’s operations—has reduced investor uncertainty, further boosting risk appetite in equity markets.

While enthusiasm is widespread, concerns persist among analysts over the sustainability of growth. High valuations have raised questions about how quickly revenue from AI and cloud services can scale. The technical challenge of chip design and the global competition in semiconductor technology remain formidable barriers.

Saudi entities Hassana Investment Company and AviLease have formed a joint venture to offer aircraft-leasing opportunities, signalling a major step in the Kingdom’s drive to build up its aviation financing infrastructure under its National Aviation Strategy. Hassana will own a majority of the new venture; AviLease—backed by the Public Investment Fund—will supply aircraft servicing.

The joint venture’s launch includes a deal to acquire a fleet of ten fuel-efficient, new-technology aircraft from AviLease, all currently leased to carriers based in Saudi Arabia. The portfolio reflects a shift towards greener, more sustainable aviation assets.

Hassana, which manages funds for the General Organization for Social Insurance, sees this as a chance to deepen exposure to resilient asset classes that generate long-term cash flows. Hani Al-Jeha­ni, Acting CEO and CIO of Hassana, emphasised the partnership aligns with its mandate to pursue investments that offer sustainable returns while supporting national aviation goals.

AviLease, established in 2022 as part of the sovereign wealth fund’s expanding portfolio, is expanding rapidly. The company has placed large orders for new Boeing and Airbus aircraft and completed a sizeable financing facility earlier this year. It manages a global portfolio worth several billion dollars. Edward O’Byrne, CEO of AviLease, described the joint venture as foundational to scaling up Saudi Arabia’s aviation ecosystem and creating a platform attractive to both domestic and international investors.

Fahad Al-Saif, Chairman of AviLease, noted that the partnership marks one of the first private-sector-led steps into the aviation financing domain within Saudi Arabia, reinforcing the role of investment institutions in strengthening the sector.

The move supports Saudi Arabia’s ambition to draw 150 million visitors annually by 2030, up from earlier targets, and to enhance the economic multiplier effects of tourism, trade, and transport infrastructure. Aviation financing is seen as a key enabler in achieving these goals, since airlines often face high capital costs.

A leading real estate industry association in Hong Kong has pressed the government to establish a HK$20 billion fund to buy up distressed properties, arguing that failing to act risks allowing systemic financial risks to spread through the banking and property sectors.

The proposal arrives as banks in the territory are increasingly exposed to loans tied to properties that are losing value. Major lenders such as Hang Seng Bank and HSBC are among institutions flagged for having substantial loan exposure to property-linked assets that are showing signs of stress. The association contends that a support fund could help stabilize the market by acquiring distressed assets before they trigger wider defaults.

Estate developers and property investors have seen rental yield decline and vacancy rates rise in commercial properties, especially in central business districts. The decline in demand for office space, retail frontage, and hotels, combined with rising borrowing costs, has squeezed cash flows and made it difficult for many property firms to service debt.

Smaller and mid-sized developers are under particular pressure. According to data, these firms together hold over HK$170 billion in real estate debt. Some banks are tightening refinancing requirements, demanding stronger collateral and stricter repayment terms.

Private credit funds have begun to fill some financing gaps, launching new funds and offering loans to both high-quality developers and those in distress. These firms are attracting interest from investors seeking higher yields. However, analysts warn that private credit may only provide a partial solution, since valuation mismatches between lenders and borrowers continue, and property asset prices in many sectors have dropped steeply since their peaks.

The proposed HK$20 billion fund would be used to purchase properties under foreclosure or receivership, thereby removing some of the non-performing assets from bank balance sheets and easing potential contagion. The government has not yet formally responded. Critics of the plan worry about moral hazard: purchasing distressed assets could encourage risk-taking if developers assume they will be bailed out. Others highlight the challenge of determining fair market value for assets in distress, especially when transactions are few and discounted.

Regulators are monitoring the situation closely. The Hong Kong Monetary Authority has reported that exposure of major systemically important banks to the property sector has grown significantly in recent years. Some banks have already increased their provisions for bad loans, though those remain modest compared to potential losses if property values decline further.