Singapore Airlines' (SGX:C6L) subsidiary, Scoot, canceled its inbound and outbound flights to Jeddah, Saudi Arabia, until June 20, according to a company release on Friday.
Shares of the flight carrier were up over 1% in Monday trading.
The rolling suspension specifically hits flights TR796, Singapore to Jeddah, and TR797, Jeddah to Singapore. The budget carrier has also provided customers affected by the cancelations with a full refund.
Jyoti Structures (NSE:JYOTISTRUC, BOM:513250) said that Chief Executive Officer Rajesh Kumar Singh has resigned, effective May 29, citing personal reasons and other professional commitments, according to a same-day filing on Indian bourses.The power transmission and distribution infrastructure company stated it is in the process of identifying a successor to ensure a seamless leadership transition.Shares of the company fell nearly 2% in Monday's trade.
Cyient (NSE:CYIENT, BOM:532175) has agreed to acquire US-based Tao Digital Solutions at an enterprise value of $218 million, according to a Saturday filing to the Indian stock exchanges.The company's shares were up over 1% in Monday's trade.Tao Digital is a digital engineering firm focused on data, product, and artificial intelligence-led services with presence in the US, Canada, India, Taiwan, and Europe.The acquisition will be done as a cash deal, including an upfront payment and performance-linked earnout. Subject to customary regulatory approvals and closing conditions, expected to close by the end of September."The acquisition strengthens our presence in automotive, hitech, healthtech sectors, expands our customer footprint significantly in North America, and our delivery reach across regions," executive director and chief executive officer of Cyient Sukamal Banerjee, said in the statement.
Deep Source (HKG:0990) has entered into parallel spodumene ore purchase and processing agreements with Anhui Dazhong New Energy Investment, according to a Friday filing with the Hong Kong bourse.The firm pre-locked the purchase of 150,000 tons of spodumene ore in China for 345 million yuan, though the amount shall be subject to the actual transaction confirmation, Deep Source said.Anhui Dazhong New Energy also agreed to process a similar amount of spodumene ore for the company at a rate of 18 million yuan, Deep Source said.Anhui Dazhong New Energy is a unit of Dazhong Mining (SHE:001203).