Several listed subsidiaries of the Adani empire, which spans coal, airports, cement and media, collapsed in early trade, with some losing as much as 20%
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More flights will be operated between the UAE and South Korea to meet the rising demand for travel, it was announced on Saturday.
The UAE signed a memorandum of understanding (MoU) with South Korea to enhance bilateral air transport relations, according to state-run news agency WAM.
Thanks to the partnership, there will now be 21 national carrier flights between the two countries every week.
The MoU signed followed a series of discussions held in Seoul on October 12 and 13, with representatives from both countries' aviation sectors.
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Omar Bin Ghaleb, deputy director-general of the General Civil Aviation Authority (GCAA), led the UAE's negotiating delegation and signed the MoU with Young Kwok-kim, director-general of the Korean Civil Aviation Authority.
"This memorandum, which allows for an increase in air transport rights for national carriers, will positively impact the economies of both countries." said Saif Mohammed Al Suwaidi, director-general of the GCAA.
"The UAE and Korea have strong relations, especially within their strategic partnership, which covers various areas. This memorandum will also boost air transport services' competitiveness and support economic and tourism cooperation with Korea," Al Suwaidi said.
Bin Ghaleb added: "The two-day discussions, held in a positive atmosphere, focused on the air transport services agreement signed in 2005. The result was an agreement to enhance air traffic by increasing the number of weekly flights between the two countries."
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