RNI No.: MAHENG/2018/76663 Day of Publishing: Every Tuesday and Friday www.newsandnriconnect.com MUMBAI: FRIDAY, JANUARY 31, 2020 • VOL. No. 2 • Issue No. 33 • IPEPCIL PUBLICATIONS PVT LTD. • 8 PAGES • PRICE: ₹ 8 Postal Registration No.: MCW/346/2019-21 Posting: Tuesday, Wednesday & Friday, Saturday FRIDAY, JANUARY 31, 2020 PC Sorting Office REFER PAGE 3, 4 & 5 FOR GULF JOBS For advertisement booking: Contact: 88982 61303 / 99232 71801 Email: [email protected] / [email protected]9010, 9th Floor, Ozone Biz Centre,Bellasis Road, Mumbai Central (E), Mumbai. 400008 59th Kuwait National Day Celebrating on 25th February, 2020 On 25th February, Tuesday 2020 issue, a special supplement will be dedicated for Kuwait National Day celebrations Indian Ambassador to Saudi Arabia Dr Ausaf Sayeed inaugurated the Indian Catalogs Exhibi- tion, which was organised by the Al-Ahsa Chamber of Industry in co-operation with the Indian embassy. Abdullatif Al-Arfaj, chairman of the board of directors of the chamber and a number of businessmen attended the event. Driving school for UAE licence to be set up in Malappuram THIRUVANANTHA- PURAM: Getting a UAE driving licence is a dream for an average Malayalee who seeks a job in the Gulf as it can make or break their chances. Now, they are a step closer to achieve the same, as the state govern- ment has given administra- tive sanction to set up an international driving testing track-cum-coaching cen- tre in Malappuram district, which has the highest num- ber of emigrants from Kerala to the Gulf. The track-cum-coaching centre to come up in associa- tion with Sharjah authorities will impart left-hand driving training and all support fa- cilities to master the skill in Kerala itself. Speaking to a TV channel, joint transport commissioner Rajeev Puthal- ath said: “We can’t offer a road test for the Gulf driv- ing licence aspirants here as our road system is based on right-hand driving. So, the proposed centre will have left-hand driving tracks, the Gulf signal system, driv- ing simulators, imported left-hand steering vehicles and other required facilities to house the officials from Sharjah,” he said. Earlier, when Sultan bin Mohammed Al Qasimi, su- preme council member and ruler of Sharjah, visited the state, Chief Minister Pina- rayi Vijayan had taken up the matter with him and he agreed to the request for set- ting up a joint international driving centre in the state considering the number of emigrant driver workforce from Kerala in the UAE. Following this, Transport Commissioner R Sreelekha submitted a project to the state government and the state has now given admin- istrative sanction to set up the centre at an estimated cost of Rs 35.42 crore in Malappuram. The state government has identified 25 acres of land of Inkel Ltd (Infrastructure Ker- ala Limited), a public-private partnership company pro- moted by the state govern- ment, to set up the centre in Malappuram. The state gov- ernment will issue success- ful candidates a certificate from the centre. ONTARIO: Canada’s job market has been firing on all cylinders but it’s been espe- cially strong for men. More than 1.93 lakh males took new jobs in Canada last year, almost double the number of females, pushing the unem- ployment rate for men be- low six per cent for the first time since records began in 1976. The figures mark a di- vergence from the US, where women eclipsed men as the majority of jobholders. The fastest pace of im- migration in the Group of Seven is a big factor behind the trend in Canada, spur- ring a housing boom that’s pushing up demand for everything from plumbers to electricians. A fast-track visa process is also pull- ing in workers to the male- dominated field of technol- ogy, while male immigrants are more likely than women to work outside the home. Canada notched another solid year of job gains in Canada experiences job boom 2019, with the unemploy- ment rate hovering near a four-decade low of 5.6pc. The female unemployment rate dipped even lower than men, reaching a record 4.9pc in May but the big job gains have skewed male. Jared Menkes, executive vice president at Toronto- based Menkes Develop- ments, said finding enough labour is a constant source of angst. Central Toronto posted the fastest-growing population in North Amer- ica last year with a dozen office buildings and count- less condos under construc- tion, along with 25 light rail stations, hospitals and all sorts of infrastructure work. “We are short actual labour, whether it’s a crane operator, whether it’s drywallers, elec- tricians, plumbers, drivers,” Menkes said. “We’re short truck drivers, architects, consultants.” Disparities To be sure, the headline figures mask stark regional disparities that underscore the difficulties Prime Minis- ter Justin Trudeau is facing. Much of the job creation has been in central Cana- da while parts of the West struggle with a slump in the energy sector that has gutted thousands of jobs. Many of those may not come back as the world shifts away from fossil fuels and Trudeau’s Liberals push to reduce Canada’s carbon emissions, creating simmering resent- ment in Alberta. Ontario, anchored by bustling Toronto, added 133,200 jobs for men in 2019 -- sending the unem- ployment rate to 5.3pc for males versus 5.4pc for fe- males. In recent years, the province has reinvented itself from a manufactur- ing hub to a services jug- gernaut, reclaiming its spot from Alberta as the main source of male employ- ment. That trend acceler- ated last year when nearly 70pc of all new male em- ployment was concentrated in Ontario. “There’s a lot of oppor- tunity out there, especially for young people who don’t know what they’re doing in life,” said O’Neill, who often works 10 to 18 hours a day helping to build one of To- ronto’s highest office towers at CIBC Square, the future headquarters of Canadian Imperial Bank of Com- merce. “I don’t think since this job started I’ve worked less than a 60-hour week.” Just under half the 463,100 net migrants to Canada in the 12 months ended Sept 30 went to On- tario. In the US, men have been held back by mis- matched skills, a drift to early retirement and the opioid crisis. President Trump has also clamped down on visas for the high- tech sector, a source of jobs growth in (Contd. on page 2) Manish Desai takes charge as Director General (West), I&B MUMBAI: Senior Indian Information Service Officer Manish Desai has assumed charge as the Director Gen- eral West Zone of the Min- istry of Information and Boadcasting in the office of Press Information Bureau (PIB), Mumbai. Immedi- ately prior to this, he was holding the post of Regis- trar of Newspapers of India in New Delhi. As DG West Zone, Desai will lead the central govern- ment communication set up in the West Zone look- ing after the functioning of PIB and Bureau of Outreach Communication (BOC) of- fices in Maharashtra, Goa, Gujarat, Rajasthan, Madhya Pradesh and Chhattisgarh. An officer of 1989 batch of IIS, Desai during his ca- reer spanning nearly three decades has worked in vari- ous media units of I&B, like DAVP, AIR News, Prasar Bharati and the Indian In- stitute of Mass Communi- cation. Earlier, Desai had worked for nearly a decade in PIB Mumbai as Director and Addl Director General looking after government communication. Manish Desai Shringla takes charge as foreign secretary NEW DELHI: Seasoned diplomat Harsh Vardhan Shringla took charge as new foreign secretary succeed- ing Vijay Gokhale. Speaking to reporters ahead of taking the charge, he said all ef- forts should be dedicated to contributing towards the nation in the form of its security and prosperity through external engage- ments. “I am as committed to the ministry’s role in nation- building as I was 36 years ago when I entered these portals as a young profes- sional. I look forward to working under the guidance of Prime Minister Modi and the External Affairs Minister Dr Jaishankar,” he said. The government did not follow the seniority principle in appointing Shringla to the top post. Indian High Com- missioner to the UK Ruchi Ghanshyam, a 1982-batch IFS officer, was also in con- tention for the post. Shringla had played an important role in hosting the “Howdy, Modi” event in Houston in Sept where US President Donald Trump and Prime Minister Modi jointly addressed the Indian diaspora. “I am conscious of the fact that I am stepping into the shoes of my illus- trious stalwarts and seniors who have upheld the high- est standards of profession- alism and integrity to their work. In this context my two immediate predeces- sors come to mind – Foreign Secretary Vijay Gokhale who set impeccably high standards, and Dr. Jaishan- kar who we know is one of the leading authorities on foreign policy in India and anywhere in the world,” Shringla said. Harsh Vardhan Shringla Illegal Indians arrested in US NEW YORK: Three Indian citizens were arrested by border patrol agents here for entering the US illegally. US Border Patrol agents stopped a vehicle near Massena in New York state along the county’s northern border and during check- ing, the agents found that two of the passengers were Indian citizens who had en- tered the US illegally and not at a designated port of entry. Both the passengers were transported to the Border Patrol Station for processing and charged. The vehicle driver, also en- tered illegally into the US in 2012. BEIJING: China’s coronavi- rus epidemic has claimed at least 170 lives, with 38 fatal- ities reported from the Hu- bei province, the epicentre of the outbreak, on Thurs- day. The Chinese govern- ment has confirmed 1,700 new infections, taking the number to 7,711. UAE’s Ministry of Health and Prevention, MoHAP, Coronavirus claims 170 lives has announced four cases of new coronavirus in in members of a family arriv- ing from the Chinese city of Wuhan. In its statement, the ministry added that “the health condition of those infected are stable and they are currently under medical observation.” Some reports said these are Chinese citi- zens. MoHAP confirmed that, in co-ordination with health authorities and the con- cerned authorities in the country, it has taken “all the necessary precautions in accordance with the sci- entific recommendations, conditions and standards approved by the World Health Organisation.” The general health condition is not a cause for concern,” it emphasised. The ministry stressed that the epidemiological investigation centres in the country are working around the clock to early report any cases of the virus, not- ing that the health system in the country “works very efficiently and that the min- istry is closely following the situation in a way that guar- antees the health and safety of everyone.” The Indian government has announced plans to op- erate two flights to evacuate its citizens from Hubei and isolate them for 28 days, instead of the customary 14-day incubation period, in New Delhi. Health Minis- try officials said only those without symptoms of the flu will be airlifted out of Wu- han, the capital of Hubei, to minimise the chances of the infection spreading to people who have not been exposed to the virus, such as those facilitating the evacu- ation. Meanwhile, India’s larg- est airline IndiGo decided to suspend its Bengaluru-Hong Kong flight from Feb 1 and the Delhi-Chengdu flight from Feb 1 to 20. Air India, as well, announced it would suspend its Delhi-Shanghai flight from Jan 31 to Feby 14, and reduce the number of its Delhi-Hong Kong flights to three per day. Edit on page-2 India ready to receive Trump NEW DELHI: President Trump is expected to swoop into India for a full-fledged state visit in late Feb, ac- cording to officials. Trump plans to spend about two days in India, a country where the US is eager for more business and looking to find a counterweight to the rise of China. Prime Minister Modi, has his own deepening political troubles to duck, and this visit could be seen as an en- dorsement of Modi’s recent policies that have deeply di- vided India and set off deadly nationwide protests. Trump and Modi have shared a stage before, at an event in Texas called “Howdy, Modi.” Tens of thousands of Indian-Amer- icans cheered on two popu- list leaders who have further polarized their own societies. Trump is expected to stay at the same fancy hotel near the American embassy in New Delhi where Bill Clinton and Barack Obama stayed. This trip originated during a phone call in early Jan when Modi and Trump exchanged New Year’s best wishes.
9010, 9th Floor, Ozone Biz Centre,Bellasis Road, Mumbai Central (E), Mumbai. 400008
59th Kuwait National Day Celebrating on 25th February, 2020
On 25th February, Tuesday 2020 issue,a special supplement will be dedicatedfor Kuwait National Day celebrations
Indian Ambassador to Saudi Arabia Dr Ausaf Sayeed inaugurated the Indian Catalogs Exhibi-tion, which was organised by the Al-Ahsa Chamber of Industry in co-operation with the Indian embassy. Abdullatif Al-Arfaj, chairman of the board of directors of the chamber and a number of businessmen attended the event.
Driving school for UAE licence to be set up in MalappuramT H I R U V A N A N T H A -PURAM: Getting a UAE driving licence is a dream for an average Malayalee who seeks a job in the Gulf as it can make or break their chances. Now, they are a step closer to achieve the same, as the state govern-ment has given administra-tive sanction to set up an international driving testing track-cum-coaching cen-tre in Malappuram district, which has the highest num-ber of emigrants from Kerala to the Gulf.
The track-cum-coaching
centre to come up in associa-tion with Sharjah authorities will impart left-hand driving training and all support fa-cilities to master the skill in Kerala itself. Speaking to a TV channel, joint transport commissioner Rajeev Puthal-ath said: “We can’t offer a road test for the Gulf driv-ing licence aspirants here as our road system is based on right-hand driving. So, the proposed centre will have left-hand driving tracks, the Gulf signal system, driv-ing simulators, imported left-hand steering vehicles
and other required facilities to house the officials from Sharjah,” he said.
Earlier, when Sultan bin Mohammed Al Qasimi, su-preme council member and ruler of Sharjah, visited the state, Chief Minister Pina-rayi Vijayan had taken up the matter with him and he agreed to the request for set-ting up a joint international driving centre in the state considering the number of emigrant driver workforce from Kerala in the UAE. Following this, Transport Commissioner R Sreelekha
submitted a project to the state government and the state has now given admin-istrative sanction to set up the centre at an estimated cost of Rs 35.42 crore in Malappuram.
The state government has identified 25 acres of land of Inkel Ltd (Infrastructure Ker-ala Limited), a public-private partnership company pro-moted by the state govern-ment, to set up the centre in Malappuram. The state gov-ernment will issue success-ful candidates a certificate from the centre.
ONTARIO: Canada’s job market has been firing on all cylinders but it’s been espe-cially strong for men. More than 1.93 lakh males took new jobs in Canada last year, almost double the number of females, pushing the unem-ployment rate for men be-low six per cent for the first time since records began in 1976. The figures mark a di-vergence from the US, where women eclipsed men as the majority of jobholders.
The fastest pace of im-migration in the Group of Seven is a big factor behind the trend in Canada, spur-ring a housing boom that’s pushing up demand for everything from plumbers to electricians. A fast-track visa process is also pull-ing in workers to the male-dominated field of technol-ogy, while male immigrants are more likely than women to work outside the home.
Canada notched another solid year of job gains in
Canada experiences job boom2019, with the unemploy-ment rate hovering near a four-decade low of 5.6pc. The female unemployment rate dipped even lower than men, reaching a record 4.9pc in May but the big job gains have skewed male.
Jared Menkes, executive vice president at Toronto-based Menkes Develop-ments, said finding enough labour is a constant source of angst. Central Toronto posted the fastest-growing population in North Amer-ica last year with a dozen office buildings and count-less condos under construc-tion, along with 25 light rail stations, hospitals and all sorts of infrastructure work. “We are short actual labour, whether it’s a crane operator, whether it’s drywallers, elec-tricians, plumbers, drivers,” Menkes said. “We’re short truck drivers, architects, consultants.”Disparities
To be sure, the headline
figures mask stark regional disparities that underscore the difficulties Prime Minis-ter Justin Trudeau is facing. Much of the job creation has been in central Cana-da while parts of the West struggle with a slump in the energy sector that has gutted thousands of jobs. Many of those may not come back as the world shifts away from fossil fuels and Trudeau’s Liberals push to reduce Canada’s carbon emissions, creating simmering resent-ment in Alberta.
Ontario, anchored by bustling Toronto, added 133,200 jobs for men in 2019 -- sending the unem-ployment rate to 5.3pc for males versus 5.4pc for fe-males. In recent years, the province has reinvented itself from a manufactur-ing hub to a services jug-gernaut, reclaiming its spot from Alberta as the main source of male employ-ment. That trend acceler-
ated last year when nearly 70pc of all new male em-ployment was concentrated in Ontario.
“There’s a lot of oppor-tunity out there, especially for young people who don’t know what they’re doing in life,” said O’Neill, who often works 10 to 18 hours a day helping to build one of To-ronto’s highest office towers at CIBC Square, the future headquarters of Canadian Imperial Bank of Com-merce. “I don’t think since this job started I’ve worked less than a 60-hour week.”
Just under half the 463,100 net migrants to Canada in the 12 months ended Sept 30 went to On-tario. In the US, men have been held back by mis-matched skills, a drift to early retirement and the opioid crisis. President Trump has also clamped down on visas for the high-tech sector, a source of jobs growth in (Contd. on page 2)
Manish Desai takes charge asDirector General (West), I&BMUMBAI: Senior Indian Information Service Officer Manish Desai has assumed charge as the Director Gen-eral West Zone of the Min-istry of Information and Boadcasting in the office of Press Information Bureau (PIB), Mumbai. Immedi-ately prior to this, he was holding the post of Regis-trar of Newspapers of India in New Delhi.
As DG West Zone, Desai will lead the central govern-ment communication set up in the West Zone look-ing after the functioning of PIB and Bureau of Outreach Communication (BOC) of-fices in Maharashtra, Goa, Gujarat, Rajasthan, Madhya Pradesh and Chhattisgarh.
An officer of 1989 batch of IIS, Desai during his ca-
reer spanning nearly three decades has worked in vari-ous media units of I&B, like DAVP, AIR News, Prasar Bharati and the Indian In-
stitute of Mass Communi-cation. Earlier, Desai had worked for nearly a decade in PIB Mumbai as Director and Addl Director General looking after government communication.
Manish Desai
Shringla takes charge as foreign secretaryNEW DELHI: Seasoned diplomat Harsh Vardhan Shringla took charge as new foreign secretary succeed-ing Vijay Gokhale. Speaking to reporters ahead of taking the charge, he said all ef-forts should be dedicated to contributing towards the nation in the form of its security and prosperity through external engage-ments.
“I am as committed to the ministry’s role in nation-building as I was 36 years ago when I entered these portals as a young profes-sional. I look forward to working under the guidance of Prime Minister Modi and the External Affairs Minister Dr Jaishankar,” he said.
The government did not follow the seniority principle in appointing Shringla to the top post. Indian High Com-missioner to the UK Ruchi Ghanshyam, a 1982-batch IFS officer, was also in con-tention for the post.
Shringla had played an important role in hosting the “Howdy, Modi” event in Houston in Sept where US
President Donald Trump and Prime Minister Modi jointly addressed the Indian diaspora. “I am conscious of the fact that I am stepping into the shoes of my illus-trious stalwarts and seniors who have upheld the high-est standards of profession-alism and integrity to their work. In this context my
two immediate predeces-sors come to mind – Foreign Secretary Vijay Gokhale who set impeccably high standards, and Dr. Jaishan-kar who we know is one of the leading authorities on foreign policy in India and anywhere in the world,” Shringla said.
Harsh Vardhan Shringla
Illegal Indiansarrested in USNEW YORK: Three Indian citizens were arrested by border patrol agents here for entering the US illegally.
US Border Patrol agents stopped a vehicle near Massena in New York state along the county’s northern border and during check-ing, the agents found that two of the passengers were Indian citizens who had en-tered the US illegally and not at a designated port of entry. Both the passengers were transported to the Border Patrol Station for processing and charged. The vehicle driver, also en-tered illegally into the US in 2012.
BEIJING: China’s coronavi-rus epidemic has claimed at least 170 lives, with 38 fatal-ities reported from the Hu-bei province, the epicentre of the outbreak, on Thurs-day. The Chinese govern-ment has confirmed 1,700 new infections, taking the number to 7,711.
UAE’s Ministry of Health and Prevention, MoHAP,
Coronavirus claims 170 liveshas announced four cases of new coronavirus in in members of a family arriv-ing from the Chinese city of Wuhan. In its statement, the ministry added that “the health condition of those infected are stable and they are currently under medical observation.” Some reports said these are Chinese citi-zens.
MoHAP confirmed that, in co-ordination with health authorities and the con-cerned authorities in the country, it has taken “all
the necessary precautions in accordance with the sci-entific recommendations, conditions and standards approved by the World Health Organisation.” The general health condition is not a cause for concern,” it emphasised.
The ministry stressed that the epidemiological investigation centres in the country are working around the clock to early report any cases of the virus, not-ing that the health system in the country “works very efficiently and that the min-istry is closely following the situation in a way that guar-antees the health and safety of everyone.”
The Indian government has announced plans to op-erate two flights to evacuate its citizens from Hubei and isolate them for 28 days, instead of the customary 14-day incubation period, in New Delhi. Health Minis-try officials said only those without symptoms of the flu will be airlifted out of Wu-han, the capital of Hubei, to minimise the chances of
the infection spreading to people who have not been exposed to the virus, such as those facilitating the evacu-ation.
Meanwhile, India’s larg-est airline IndiGo decided to suspend its Bengaluru-Hong Kong flight from Feb 1 and the Delhi-Chengdu flight from Feb 1 to 20. Air India, as well, announced it would suspend its Delhi-Shanghai flight from Jan 31 to Feby 14, and reduce the number of its Delhi-Hong Kong flights to three per day.
Edit on page-2
India ready to receive Trump NEW DELHI: President Trump is expected to swoop into India for a full-fledged state visit in late Feb, ac-cording to officials. Trump plans to spend about two days in India, a country where the US is eager for more business and looking to find a counterweight to the rise of China.
Prime Minister Modi, has his own deepening political troubles to duck, and this visit could be seen as an en-dorsement of Modi’s recent policies that have deeply di-vided India and set off deadly nationwide protests. Trump and Modi have shared a stage before, at an event in Texas called “Howdy, Modi.” Tens of thousands of Indian-Amer-icans cheered on two popu-list leaders who have further polarized their own societies.
Trump is expected to stay at the same fancy hotel near the American embassy in New Delhi where Bill Clinton and Barack Obama stayed. This trip originated during a phone call in early Jan when Modi and Trump exchanged New Year’s best wishes.
2 EMIGRATION Friday, January 31, 2020
Published by IPEPCIL Publications Pvt LtdRNI No.: MAHENG/2018/76663
LIPSYNCH “The power of imagination makes us infinite.”
—John Muir
The deadly virusThe way the coronavirus is spreading is alarming.
Now the alert has gone all over the world and what’s shocking is that in India, a medical student who re-
turned from Wuhan and was admitted to a hospital in Kerala is now a confirmed case of coronavirus. Another medical student is admitted in a Ujjain hospital where he has been kept in an isolation ward to test for possible in-fection of coronavirus. The student, who was residing in China’s Hubei province of Wuhan arrived in Ujjain on Jan 13. Meanwhile, four cases are confirmed in the UAE, one of the cleanest countries and where the healthcare facility is simply fantastic. The UAE confirmed the first case in the MidEast of the new virus that causes flu-like symptoms, saying doctors now were treating a family that had just come from a city at the epicentre of the outbreak in China.
The new type of coronavirus first appeared in the cen-tral Chinese city of Wuhan in Dec. Its symptoms, including cough and fever and in severe cases pneumonia, are simi-lar to many other illnesses. It’s from the coronavirus fam-ily, which includes those that can cause the common cold as well as more serious illnesses such as Sars and Mers. The viral outbreak that began in China has infected more than 7,000 people in the mainland and more than a dozen other countries. China’s death toll has passed 170 with over 4,000 confirmed cases across the country. What makes this virus particularly lethal is that it mutates easily and can spread even in its incubation period, which means the risk of contagion is high even before any symptoms show up. The world needs to put heads together to contain the threat. For that, Beijing would need to share all it knows about it.
Though there is no proof, a report has suggested that the deadly coronavirus might have originated in a bio-war-fare laboratory in China’s Wuhan from where it went viral. The new virus, christened 2019-nCoV by the WHO, causes a severe respiratory infection that could potentially be fatal. According to Chinese sources, it broke out of an unhygien-ic seafood market in Wuhan. Again, US newspaper reports cite an Israeli microbiologist as saying that this strain of the virus is likely linked to a lab associated with China’s bio-logical warfare programme. The Wuhan Institute of Virol-ogy is the country’s only declared site that has the capacity to work with deadly strains of viruses, the report claims.
Chemical and biological weapons are banned globally for the harm they inflict on non-combatants. Yet, some coun-tries are suspected of holding deadly arsenals of germs and viruses that could wipe out millions if released in densely populated zones. It’s more likely that human contact with some other species resulted in the viral outbreak. Unfortu-nately, the virus is still spreading and spreading fast. The Ministry of Civil Aviation (MoCA) has been conducting thermal health screening of passengers, arriving from China including Hong Kong, in seven airports in India.
Editorial
Galadari Brothers and Terex Cranes have singed an agreement in Dubai. The dealership agreement was signed at a ceremony at the Galadari Brothers’ head office in the presence of Suhail Abdullatif Galadari, Director and Executive Committee member, Mohammed Abdul-latif Galadari, Director and Executive Committee Member and Mohamed Yahya Kazi Meeran, Director and Group CEO of Galadari Brothers Company.
LONDON: A British court has ordered that a luxury yacht owned by Force India be sold and its proceeds be used to pay back Qatar National Bank to enforce its mortgage on the vessel.
During court proceed-ings, brought by the bank in the Admiralty Division of the High Court in Eng-land, it had been claimed that liquor tycoon Vijay Mallya’s son Siddharth Mallya was the ultimate beneficial owner of the yacht. However, the bank said that without grappling with that issue, their claim was focused on recovering outstanding loan payments estimated at around Euro 6
Court orders sale of Mallya’s yachtmillion.
“Security for the loan… included a personal guar-antee from Dr Mallya, an individual closely con-nected with the borrower,” notes the judgment handed down by Justice Nigel Teare in London.
“The sum claimed in this action in rem is Euro 5 million plus interest and the costs of “collection” which the claimant is en-titled to recover,” it adds. The judgment also takes note of the fact that the defendant, listed as “the owner of the yacht Force India”, chose not to appear at a scheduled trial earlier this month after its solici-
tors “came off the record” in Nov last. The yacht it-self remains under arrest in Southampton, a port on England’s south coast, and court-appointed Admiralty Marshal Paul Farren will now proceed with organis-ing the appraisement and sale of the vessel in order to recover the costs.
As part of the process, any other claimants to the proceeds of the sale will be given notice to register their claims within an advertised period of time over the next six-10 weeks. A consortium of Indian banks, led by SBI , is likely to be among those claimants as they pursue a separate bankruptcy order
against Mallya over un-paid loans related to his now-defunct Kingfisher Airlines. “The court order today means the yacht must be sold and large sums of money be paid to the claim-ant (Qatar National Bank),” said Gideon Shirazi, the barrister who appeared on behalf of Qatar National Bank. The yacht, described as a 49.9-metre Mangusta 165 superyacht, was owned by a company related to Gizmo Invest SA, whose ultimate beneficial owner is claimed to be 64-year-old Mallya, and Force India’s ultimate beneficial owner is said to be his son, Sidharth.
Shirazi told the judge
that an allegation made by the defence that there had been “undue influence” involved in the mortgage process for the yacht was removed at a later stage in the court proceedings, caus-ing significant extra costs to Qatar National Bank.The judge agreed it had been a “striking allegation” and granted the claimant costs on an indemnity basis. Mal-lya, meanwhile, remains on bail on a warrant executed by Scotland Yard in April 2017 pending a High Court appeal next month against his extradition order to In-dia, signed off by former UK home secretary Sajid Javid last year.
OHIO: Veteran state rep-resentative in Ohio Niraj Antani, in his bid to move over to the state Senate in 2020, has received the endorsement of the top two public officials in the state legislature.
Governor Mike DeWine and Lt Gov Jon Husted en-dorsed the Indian American candidate in his campaign for state senator in the sixth Legislative District, which includes the communities in most of Montgomery County. “The Miami Val-ley needs a champion in the state Senate and Niraj Antani will be that cham-pion. I am supporting him because I know that Ni-raj cares deeply about his community and his con-stituents, and he is the best person to deliver results for them. I look forward to continue working with him in the legislature as a state
Senate candidate Niraj Antani endorsed by governor
Niraj Antani
Senator,” DeWine said in a statement.
Both the governor and
lieutenant governor have strong ties to the region. DeWine is the first governor from the Miami Valley in a century. Husted was the state senator for the Ohio Senate’s sixth district from 2009-2011, before becom-ing secretary of state in 2011.
Antani was an early endorser of the DeWine-
Husted ticket in 2018, and served as the Montgomery County Chair for Husted’s 2014 re-election campaign for secretary of state. “I would be proud to have Niraj serve in the Senate seat I once held. Niraj has worked tirelessly for his constituents and commu-nity in the legislature so far, and I know he will do that in the state Senate. The Dayton region needs strong advocates and Niraj will be exactly that as a state senator,” Husted said in a statement.
The Niraj campaign has knocked on over 68,000 doors so far, with the help of nearly 20 interns. In addition, he was recently endorsed by the Ohio Re-publican Party, after being recommended for the en-dorsement by Ohio Senate President Larry Obhof and Senate leadership.
WASHINGTON: Indian-Americans, the US business and think tank communities have welcomed the appoint-ment of career service diplo-mat Taranjit Singh Sandhu as India’s new ambassador to the US. A 1988-batch Indian Foreign Service Of-ficial, Sandhu has had two successful stints at the Indi-an embassy in Washington, the last one being as Deputy Ambassador from July 2013 to Jan 2017. Sandhu, who is currently India’s High Com-missioner to Sri Lanka, is expected to take up the new assignment shortly.
“ H i s a p p o i n t m e n t couldn’t have come at a bet-ter and more crucial time, given that President Trump is likely to visit India soon,” Indiaspora founder and phi-lanthropist M R Rangaswa-mi told a TV channel. The US has made no official an-nouncement about Trump’s trip to India so far. “Having
US-Indians hail appointment of Sandhu as envoy
served previous stints in DC and New York, Ambas-sador Sandhu is among the foremost US experts in the Indian diplomatic corps,” Rangaswami said. Sandhu has also served at the India’s permanent Mission to the UN in New York.
“Amid dynamic political and policy challenges and growing economic focus on India, Sandhu will be an experienced leader for Indian embassy in US to navigate both the opportu-nities and challenges in the bilateral relationship,” said Nisha Desai Biswal, the for-mer Assistant Secretary of State for South and Central Asia. She is currently presi-dent of US India Business Council. “Congratulations to Taranjit Sandhu on his appointment as the next ambassador to the US. We look forward to a long and enduring partnership to take ties to greater heights,” said US India Strategic and Partnership Forum.
UNITED NATIONS: India successfully managed to use digital platforms to reduce disparities among population groups, a flag-ship UN study has said, noting that the country’s ex-perience of complementing mobile technologies with the Aadhaar identification system to reduce inequality is likely to be replicated in other countries in future.
The World Social Report 2020, published by the UN Department of Economic and Social Affairs (DESA), notes how India harnessed the potential of digital tech-nologies for more inclusive development. In the report, the UN said the experi-
India successfully used digital tech to reduce disparities: UN
ence of India suggests that mobile digital technologies need to be complemented by other technologies to reduce inequality in access to financial services.
“ India managed to achieve more equal ac-cess to financial accounts by complementing mobile technologies with a national system of digital IDs and an affordable electricity system that provides an un-interrupted supply of stable current,” it said. Given that many developing countries currently have digital ID systems and some coun-tries are on track to achieve universal access to modern energy during the 2020s, the
report said “the experience of India is likely to be repli-cated in other countries in the near future.”
The report highlighted the role played by the Aad-haar identification system to achieve financial inclusion in India. “India has success-fully managed to use digital technologies to reduce dis-parities among population groups. A combination of new public infrastructure and government action was behind the success of a new identification system that is increasing ownership of financial accounts and mak-ing public services more effective,” it said.
The report, released last
week, added that in 2014, the Indian government in-structed banks to provide accounts to people not having one, using their Aadhaar numbers or oth-er sources of information about their identities and addresses. It noted that the number of people without bank accounts declined by more than half, from 557 million in 2011 to 233 mil-lion in 2015.The UN report further said that before the introduction of Aadhaar unique IDs, the less ad-vantaged segments of the population were unlikely to have an official registered ID, which was necessary to open a bank account.
Canada...(Contd. from page 1)down on visas for the high-tech sector, a source of jobs growth in Canada. Male im-migrants are more likely to participate in the workforce than women, who often face additional barriers, accord-ing to Parisa Mahboubi, a senior policy analyst at CD Howe Institute in Toronto.
“Generally, immigrants, either men or women, face various obstacles such as language barriers, lack of Canadian work experience and variable recognition for foreign education and ex-perience,” Mahboubi said. “However, immigrant wom-en face additional barriers related to household respon-sibilities and lack of afford-able childcare, compared to immigrant men.”
Indian startups to getopportunities in US BENGALURU: Top officials of the University of Illinois (UoI) of Chicago are touring several parts of India to strengthen col-laborations with academic institutions and industries here.
The delegation, including the 20th president of the UoI, Prof Timothy Killeen, visited Ramaiah Group of In-stitutions, one of their partner institutions, to strengthen their existing collaboration — giving potential for faculty members of both institutions to collaborate on research activities. During their visit to the institute, Killeen an-nounced a $1 billion project of the UoI -- Discovery Part-ners Institute (DPI), a recent innovation ecosystem where universities are working closely with research activities driven by real needs in a real world.
Killeen said the major hub that will be set up for this in downtown Chicago, would help Indian startup eco-system “by providing soft landing in US
in the heart of the market.”Startups will also have ac-cess to expertise and will get mentored, he added. “There can be a curation aspect that will help innovation ecosys-tem in India optimise itself.”
India’s gold demand torebound in 2020: WGCNEW DELHI: India’s gold demand is expected to rebound in 2020 as the government seeks to bolster consumer con-fidence and spending power to revive Asia’s third-largest economy, the World Gold Council (WGC) said on Thursday.
A rise in consumption by the world’s second-biggest gold buyer would further boost global prices, which scaled a near seven-year high earlier this month, but could widen India’s trade deficit and pressure the rupee. Gold consumption in 2020 will likely be 700-800 tonnes, compared with 690.4 tonnes last year, said Somasundaram PR, Managing Director, WGC’s Indian operations. But government measures aimed at bringing transparency in bullion trading are likely to keep demand below the 10-year average of 843 tonnes, he said.
“We believe reforms that are going to be announced in the budget are likely to put more money in the hands of people. It will drive up consumption,” Somasundaram said. “Overall, as the economy improves it will have a rub-off effect on the jewel-lery industry.” Finance Minister Nirmala Sitharaman, who will present the annual budget to parliament on Saturday, is widely expected to cut some personal tax in the 2020-21 budget, to spur consumer demand and investment. As Indian gold prices jumped 25pc in 2019, hitting a record high, consumption fell nine per cent from the previous year to 690.4 tonnes, the lowest since 2016, the WGC said. Gold buying in the key Dec quarter dropped 18pc from a year earlier to an eight-year low of 194.3 tonnes. Demand usually jumps in Dec quarters due to the wedding season and as Indians celebrate festivals such as Diwali, when buying bullion is considered auspicious. The country’s scrap supplies in 2019 jumped 37pc to 119.5 tonnes, helping New Delhi to bring down net bullion imports by 14pc to 646.8 tonnes, the WGC said.
Friday, January 31, 2020 3GULF JOBS & OPPORTUNITIES
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Friday, January 31, 2020 5GULF JOBS & CAREERS
We all know that eating right and exercising is ex-
tremely essential for one’s well-being. It is known to boost one’s strength, the immune system and also help maintain body weight. In fact, experts stress that one should exercise for at least 40 minutes every day — it can either be a brisk walk or a session at the gym. But despite knowing
about these many benefits, laziness takes over and we somehow just cannot pull ourselves from under the warm blankets and get go-ing, especially in the win-ter months. In the end, the fitness routine goes for a toss. But have you ever wondered what happens to your body when you stop
What happens to your body when you don’t exercise
exercising?“(Peak) winters last for
approximately two months in India, and if during this time a person decreases the amount of exercise time, then it doesn’t really make a difference. But if they stop exercising al-together and break their routine, then they need to start from scratch. This is because the body needs reconditioning. It has also
been proven that exercis-ing regularly keeps many non-communicable dis-eases at bay,” Ismit Tyagi, physiotherapist, Columbia Asia Hospital, informed.
Experts say that one may not realise instantly, but lack of exercise can im-pact one’s health in many ways, including making
one extremely lethargic. Dr BM Jha, HOD, Physio-therapy and Rehabilitation Science Department, Fortis Memorial Research Insti-tute (FMRI) adds that quit-ting exercising can lead to high risk for loss in muscle mass, loss of endurance, weight gain, depression, blood sugar, along with the bones becoming frag-ile, and insomnia in some cases. “Also, a sharp rise in
blood pres-sure and blood glu-cose level can be ex-perienced — which can lead to com-plications in people with dia-betes or high blood pressure,” he said.
It must be noted, points out Dr Parmila
Sharma, HOD, Physio-therapy, Paras Hospitals, Gurgaon, that if a person doesn’t exercise for three days, they go back seven days. “The muscles under-go weakness, they become lethargic and the joints be-come stiff,” she said.
But it doesn’t end there as experts say that when
Sweaty and oily in summer. Dry and itchy in winter. Sea-
sons spell trouble for the scalp. From maintaining a healthy diet to cleansing regularly, dermatol-ogist and aesthetic physician Shwetha Rahul from Kauvery Hospital gives us helpful tips to keep the skin on your scalp clean and lu-bricated throughout the year depending on the skin type and external environ-ment.
A well-balanced diet comprising the right amount of iron, minerals, zinc and selenium is crucial
f o r scalp hy-giene. Drink plenty of wa-
ter and keep your body hy-drated. Timely food rich in vegetables and fruits will supply necessary raw ma-terials to nourish the scalp and produce new healthy cells. Do not use hair prod-ucts like gels, mousse and creams unless it’s neces-sary. These cosmetics con-tain oily content to some extent and greasy products that might not suit all skin types resulting in spoiling the hair texture.
Do not use a heavy
Here’s how to maintain your hair to keep them strong
dose of conditioner on the scalp. It’s meant only for hair. Overshampooing the hair and overconditioning the scalp, both are danger-ous. Wash your hair every
alternate day or at least two to three times a week. Do not blow-dry your hair or use hair dryers. The heat from them can damage your hair heavily. In the case of hair conditions like psoriasis or dandruff, get medication started.
Do not use the prescribed shampoo beyond the in-structed time. It’s better to avoid home remedies in such conditions. Parlours come up with dandruff treatment and other hair ser-vices. Check what suits your hair and do not fall prey to these offers. Not everybody’s
hair is the same.Try scalp moisturising
gel for dryness in winter. Products or shampoo with vitamin content and sali-cylic acid help to get rid
of the scaly scalp. Exfoli-ating shampoos also help. Apple cider vinegar is good for dandruff and dry scalp. Do not oil your hair frequently when you have conditions like dandruff or psoriasis. Applying oil once in a while before washing your hair is fine. Likewise, do not indulge in too much oil massage. It can give rise to fungal in-fection. Clean your comb and hairband after hair wash. Even changing pil-low cover matters if you have hair conditions like dandruff.
a person stops exercising, their body starts losing muscle mass and strength within three weeks.
“This is followed by the body’s fat percentage in-creasing. And if the calorie consumption remains as before, then weight gain is also seen. When you sit for most of the day, your bone density will decline faster. Without exercise one may lose control over blood pressure and blood sugar levels. After stopping ex-ercise, the brain will begin to change, and the person may have brain fog or not feel as cheerful,” Seema Singh, Chief, Clinical Nu-tritionist at Fortis Flt Lt Ra-jan Dhall Hospital, Vasant Kunj said.
So, should a person’s exercise rou-tine change according to the seasons? While it is important that a person exercises accord-ing to their convenience and immunity level, Tyagi suggests that one should not exercise after 10 am in summers, and must ensure that they keep themselves hydrated at all times. “In winters, since the pollu-tion levels are especially high, one should exercise indoors. But if they pre-fer the outdoors, then it should not be early morn-ing or evening,” he says.
Sai Life Sciences, one of India’s fastest growing Contract De-velopment and Manufacturing
Organizations (CDMOs), announced that it has initiated the recruitment of 300 plus scientists for its upcoming integrated Research and Technology (R and T) centre in Hyderabad, India.
This will result in doubling the full-time equivalents (FTEs) in the areas of discovery chemistry, process chemistry and analytical chemistry.
“We are at a very exciting point in our journey and are looking to expand our team of highly-motivated scien-
Sai Life Sciences recruitment on for 300 plus scientists
Your wellness
tists. This will help us better serve our customers by accelerating their proj-ects involving complex chemistry and next-generation technologies,” said Krishna Kanumuri, CEO and MD, Sai Life Sciences.
The current expansion is part of Sai Nxt, an organization-wide initia-tive aimed at transforming the compa-ny into a new generation CDMO, with investments of over $ 150 million dur-ing the period.
Scheduled to be functional by May 2020, the upcoming R and T facility in the genome valley, Hyderabad, will
have 83,000 sq. ft. of lab space and
house state-of-the-art research capa-
bilities with advanced technology platforms.
The facility adds to the company’s growing range of capabilities and facilities across drug discovery, devel-opment and manufacturing. Over the past few months, Sai Life Sciences has added 172 KL cGMP API and In-termediate manufacturing capacity, opened a Biology Lab in Cambridge, Massa-chusetts, USA, and is setting
up a Process R and D Lab in Manches-
ter, UK.The company is looking to on-
board top-notch global scientific talent with MSc/PhD/ Post Doctor-ates in synthetic organic/analytical chemistry from reputed academic institutions, and experience in global pharma R and D of up to 20 years, for various roles across levels in discovery chemistry, process R and D, analytical R and D as well as in Biology, DMPK, Toxicology among others. The list of open positions are available on the careers page of the website.
IN FOCUS6 Friday, January 31, 2020
GULF FAQs
I want to know how safely I can buy a home for rental income in Dubai?
We sent your question to Khetra Reddy, senior wealth architect at Elixir Wealth Solu-tions, who says: “Owning a property in Dubai is always fascinating. And if anyone can man-age to pay the EMI and rent together without any hardship, then one must look at owning a property here. Nevertheless, the property owners must consider the EMI to be not more than 30pc of the disposable income.” Paying the EMI for a home mortgage and at the same time your current rent can get complicated. So, the best way to start is to evaluate your debts and expenses and figure out what you can reasonably manage and afford.
Reddy says: “Enthusiast property buyers may have various forms of debts like credit cards, personal finance, car finance, home finance. Residents having any of these debts have to plan wisely when buying property.” For investors, he recommends paying other debts or keeping adequate provision for these payments before purchasing a property that the buyer can lease out. “If you have a family income of Dh30,000 per month, then you may consider purchasing a home after carefully planning your other household expenses,” says Reddy. “The current house rent is an important aspect of the monthly expense.” Reddy says a home budget should also cover expenses for food, utilities, school, rent, travel cost and provision for other debts. “These expenses on average would be around Dh8,000-Dh10,000, depending on the lifestyle,” says Reddy. When buying property in Dubai via bank finance, you will have to pay a 25pc down payment. There are also fees such as the DLD charges, property registration fee and agent’s commission.
“The down payment is effectively 30 to 35pc of the property value depending on the type of property and mortgage options,” says Reddy. “A property valued Dh1 million would attract a down payment of around Dh310,000. This should be accumulated with proper planning over a few years, so that other expenses don’t come in the way. If you con-sider buying a Dh1-million property in three years, then around Dh8,500 needs to be saved monthly for a down payment.” Taking another loan for a down payment is not advisable, he adds. So, plan for a property purchase at least two or three years in advance.
Properties in Dubai offer a higher ROI com-pared to other matured markets in the world. Reddy says investors can get a minimum rental yield of six per cent. However, he cautions in-vestors to plan and be aware of their financial obligations in the UAE and their home country. “For example, a one-bedroom apartment in JLT might cost up to Dh7.5 lakh and EMI for a 10-year payment plan might come up to Dh5,000 per month. In addition to the EMI, the buyer has to pay the down payment of approximately 31pc. ” When buying to lease a property, the buyer must consider current market rent vs the EMI. “In case the EMI turns out to be higher than or similar to the rent considering the debts, then the property owner would end up firefighting,” says Reddy. “That is, if your EMI is Dh6,000 monthly, you will require a rental income that’s more than Dh6,000 to be able to pay for EMI plus the service charges and make rental gains.”
Hence, Reddy recommends a comprehen-sive study of one’s personal finance, rent trend and the property market to not only align debt payments, but also make a profit. On the other hand, if buying property for self-occupancy, Reddy suggests the buyer compare the EMI vs current rent. “If EMI is higher than the current lease, then, there will be a need to compromise on their lifestyle,” says Reddy. A property investor must consider factors that affect rental yields, such as maintenance and service charges, says Reddy. Other factors that affect rental yield are interrupted occupancy, economic conditions, property demand-and-supply in the area and any value-added ameni-ties like a community centre, swimming pool, gym or shopping centre. The investor must also consider the property’s age, maintenance needs and future expenditures, which can reduce the net rental yield.Passport retention
I am an NRI working in a Dubai-based company (not a free zone). You have often mentioned in your column that it is illegal for firms to keep their employees’ passports. I have showed clippings of these articles to our HR department, but they insist on keep-ing my passport. How do I address this with-out jeopardising my future at the company?
The practice of employers withholding the passports of its foreign employees is pro-hibited under Circular No. 267 of 2002 issued by the Ministry of Interior (MoI) --- unless it is carried out by the judicial authorities in
How to avoid mistakes when buyinghome for rental income in Dubai
accordance with relevant provisions of the law. However, if the employee consents to handing over the passport, then such pos-session of the employee’s passport by the employer shall not be deemed unlawful, provided the employee’s consent is obtained in writing and the employer agrees to return the passport at the employee’s request.
In addition, considering that you are em-ployed by a company based in the mainland of Dubai, the provisions of Federal Law No. (8) of 1980 regulating Employment Relations in the UAE (Employment Law) shall be appli-cable. Therefore, in case your employer ter-minates your employment on the grounds of your demand to return your passport or your refusal to consent to the retention of your passport, such a termination of employment may be deemed an arbitrary termination.
This is in accordance with Article 122 of the Employment Law, which states: “A work-er’s service shall be deemed to be arbitrarily terminated by his employer if the reason for termination is irrelevant to the work. More particularly, a termination shall be regarded as arbitrary if it is prompted by a formal com-plaint filed by the worker with the competent authorities or a legal action instituted against the employer that proved to be valid.”
In pursuance of the aforementioned circular and the provision of the Employ-ment Law, it may be noted that you may demand the return of your passport from your employer. If your employer refuses to return your passport or discourages you from demanding the return of your passport by indicating a subsequent termination of your employment, you may consider approach-ing the Ministry of HR and Emiratisation. You may also file a complaint against your employer at a police station.Sponsorship
I am 66 and live in the US. My children live in Dubai and want to sponsor my UAE residency. I have a possible job for August as a school guidance counsellor in Dubai. I am a mental health professional with a masters in clinical psychology and degrees attested by ADEC (Abu Dhabi Education Council). If my children are able to acquire a one-year residency for me, will I be al-lowed to work at a school if they are willing to apply for a labour card?
It is possible to sponsor a parent but ap-plications are considered on a case-by-case basis by the General Directorate of Residency and Foreigners Affairs in the relevant emirate. Visas are for a period of one year at a time and the applicant/sponsor must have a monthly salary of at least Dh20,000, or a salary of Dh19,000 plus accommodation with at least two bedrooms and also pay for medical insur-ance. Generally, if the parent has an income of their own, or financial support in their home country, an application will be declined as the sponsor is expected to be their only means of support. This means that someone sponsored by a son or daughter is not permitted to take up employment when in the UAE as having an income of their own negates the reason for the visa in the first place.
In this situation, the school should spon-sor you and provide you with a residency visa. There is a nominal upper age limit of 65 years but employers can make applica-tions for staff who fall outside this guideline if there is good reason to do so. However, the visa will only be issued for 12 months at a time and the cost of medical insurance and visas is often a reason why employers will not take on employees over the age of 60.Sick leave
My school management in Dubai in-formed us in writing that when teachers are absent due to sickness, they must provide the teaching materials and assignments that students need to work on while they are absent. Otherwise, sick leave will not be approved. Is this legal?
I understand that you work in a private school and so UAE Labour Law applies. The law is clear about payment when an em-ployee is away from work due to ill-health. Article 83 states: “Should the worker spend more than three months after the end of the probation period in the continuous service of the employer and contract an illness, he shall be entitled to a sick leave not exceeding 90 consecutive or non-consecutive days for every year of service, calculated as follows: (a) The first 15 days with full pay.(b) The following 30 days with half pay. (c0 The fol-lowing periods without pay.” It is therefore clear that employees are paid for time off sick within these time frames, although they must notify the employer in a timely manner and provide a medical certificate in line with the employer’s policy.
A delegation led by Culture Minister of France Franck Riester met with Union Minister of State for Culture Prahlad Singh Patel in New Delhi.
NRI woman wins Dh5.5 lakh road mishap compensationDUBAI: An Indian expat who was injured in a road ac-cident in 2017 was awarded Dh550,000 in compensation by Dubai Courts .
The 29-year-old Sindhu Dhanaraj, who hails from Tamil Nadu, met with an accident on June 4 on Dubai Emirates road. She was hos-pitalised for a month and had to be put on home rest for the next three months or so. In that time she lost her job in Dubai.
Sindhu , who worked as an IT professional in Dubai before the accident, was part of a six-vehicle pile up on the fateful day and was seri-ously injured in the accident along with the three other passengers in the vehicle she was travelling in. All four were admitted to the Rashid Hospital in Dubai where they received treatment.
Speaking to a TV chan-nel, Sindhu said her face was particularly affected following the accident. “My left eye-lid is slightly more closed than the other. Also
my left-side of the face is [swollen]. After the acci-dent I don’t feel like tak-ing my photos at all.” Last
week, Dubai Courts awarded Dhanaraj a compensation of Dh5.5 lakh, which translates to Indian Rs10.7 million.
“Earlier, the driver of the vehicle responsible for the accident was found guilty by the Dubai Courts. He was however, released on a fine of
Dh1,000. But I approached a lawyer for compensation. The matter was taken up in higher courts and the judgement was
passed in my favour.”“An initial offer was made
which was not sufficient. The Court of Appeal at Dubai Courts upheld the complaint and said the injury was seri-ous and the amount of com-pensation was inadequate. We, her lawyers, further
argued that the medical re-port showed a considerable amount of distress caused to her following the acci-dent,” explained Papinissery, Dhanaraj’s lawyer.
“I am just so happy that I finally received the compen-sation. For two years we have been fighting [for] our rights. Finally it is happening.”
Sindhu said she was mar-ried at the time the accident happened in Dubai. “My hus-band was my major support. He was there with me through and through. I thank God ev-eryday for giving him in life.”
What is heartening to also note is that before the acci-dent Sindhu was struggling to conceive a child. But she is now a proud mother of a 10-month-old daughter. “My husband and I went through a rough patch. But I am glad things are looking up.”
Sindhu returned to India for good in Dec 2018 for her child’s delivery. “My hus-band still works in Dubai. Hopefully my daughter and I will join him soon.”
Sindhu with her husband.
TS Sandhu newambassador to USNEW DELHI: Senior diplomat Taran-jit Singh Sandhu has been appointed as India’s ambassador to the US.
Sandhu, a 1988-batch Indian Foreign Service officer, is currently posted as High Commissioner of India in Sri Lanka. He replaces Harsh Vardhan Shringla as India’s envoy in Wash-ington. Shringla has been named as India’s next foreign secretary.
ABU DHABI: The Indian embassy in Abu Dhabi offers round-the-clock assistance for expats in distress, a top envoy said.
Addressing blue-collar workers, students, businessmen and community leaders, Indian Ambassador to the UAE Pavan Kapoor, said: “You represent dif-ferent strata of society here but all are equal for us. The embassy is an open place for all of you, to raise whatever issues you have. We will do our best to do whatever we can to help you.”
On the occasion of India’s 71st Republic Day, Kapoor noted that com-munity members were making notable contributions to the economy of the UAE and India.
The ambassador also underlined that the embassy officials were constantly do-ing their best to help resolve issues faced by expats. Earlier in the day, Kapoor paid
Indian embassy’s doors alwaysopen for expats: ambassador
floral tributes to the statue of Mahatma Gandhi. He hoisted the Indian national flag, and read out President Ram Nath Kovind’s Republic Day speech. Later, cultural programmes were held in the embassy auditorium and expats were excited to be part of yet another Republic Day celebration in the UAE.
Dhiraj Sinha, who works in indus-trial area of Mussafah, said: “I have been coming here with my colleagues and friends for many years now. This is the celebration of the world’s largest democracy and achievements.” Another expat, Raghavendra Krishnamoorthy, said these occasions were a platform to promote the feeling of nationalism.
“This is the day when our constitu-tion came into effect. We wish every In-dian read and know about the constitu-tion. This will help in nation building.”
Thampi gets bailStranded women to be brought back from DubaiELURU: Tanuku Circle Inspector DS Chaitanya Krishna has said that Vasundara, who recently made a video narrating her ordeal in Dubai, is safe and he had spoken to her over phone. He said that steps were being taken to get the woman’s passport from her employer, adding, that other women who were present in the video would also be brought back to their native land soon.
According to reports, the women were sent to the Gulf by agents in West Godavari district. One of them, Karam Vasundhara from KS Gatti in Attili mandal, was sent there by an agent named Lakshmana Rao to work as a maid for a mentally-challenged man. However, her employer forcibly took her visa and started harassing her. Helpless, she approached the Indian embassy in Dubai, where she was joined by a few other such women. Meanwhile, the women, who were stuck in Dubai, sent a WhatApp message thanking Chief Minister YS Jagan Mohan Reddy for his initiative to bring them home to their native district.
NEW DELHI: A special court here granted bail to NRI businessman CC Thampi in connection with a money laundering case pertain-ing to the overseas properties related to Robert Vadra. Special Judge Arvind Kumar granted bail to Thampi on a personal bond of Rs 5 lakhs with two sureties.
The court had sent Thampi to judicial custody till Feb 7 and reserved its order on a bail plea filed by him in con-nection with a money launder-ing case. Appearing on behalf of Thampi, senior advocates Raju Ramachandran and Mohit Mathur had sought bail, while the Enforce-ment Directorate (ED) opposed
granting bail and sought an exten-sion on his remand. According to ED, Thampi, along with Sanjay Bhandari and Vadra conspired to-gether to launder money. Thampi,
an NRI, and his three companies -- Holiday City Centre, Holiday Properties and Holiday Bekal Resorts -- were on ED radar “under FEMA for an aggregate amount of Rs 288 crore”. The ED had booked Thampi, who has businesses ex-
tending across India and the UAE, under the Prevention of Money Laundering Act (PMLA) in con-nection with alleged wrongful ap-proval for an engineering college in Thrissur by the All India Council for Technical Education in 2009.
CORPORATE NEWSFriday, January 31, 2020 7
Future Supply Chain (FSC), one of India’s largest organized
third-party and logistics service providers, has as-sociated with GlobalGyan Academy of Management Education as its Digital Learning partner.
Enabling a shift from the classroom to DigiReal learning, GlobalGyan has successfully trained 200 young engineers and man-agers of FSC across India, with its ValYou Starter, In-dia’s first digital campus to corporate program for entry-level professionals.
Disrupting the tradi-tional corporate training set-up, ValYou Starter, a digital certification pro-gram reduced the need
for the physical presence of trainers and eliminated several, repetitive training costs.
ValYou, GlobalGyan’s powerful content platform also allowed FSC to co-create courses exclusively for its employees with cus-tomised company content. Involving gamification and interactive lessons, the cur-riculum provided 50 hours of instruction on profes-sional skills.
This superior platform made on-boarding and continuous training easy, from creating content to delivery and tracking prog-ress of participants.
FSC participants gained from the self-paced train-ing, which helped them
understand their jobs and gave them the necessary skills to achieve their indi-vidual and company goals.
“Today, just academic knowledge is not sufficient to meet the demands of the practical world. The objec-tive of this initiative was to ensure that our young tal-ent gets ready and hands-on in their jobs to meet challenges of our rapidly growing business. We have been glad to partner with the very dynamic team of GlobalGyan. The ValYou Starter program delivered training content in an easy-to-use and quantifi-able manner,” said Bikash Prasad, Head - People Of-fice, FSC.
“We are delighted to
partner with FSC in its transformative journey in the supply chain industry. The ValYou Starter pro-gram distils several hun-dred years of corporate experience into a set of practical lessons, available at one’s finger-tips. Our digital learning platform is designed to reduce the skill-gap between corpo-rate expectations and capa-bilities of entry-level em-ployees, to enhance career velocity,” said Srinivasa Addepalli, CEO of Global-Gyan.
ValYou Starter’s tailor-made courses include 50 hours of industry-based learning, with unparalleled guidance from industry ex-perts.
Tech Mahindra has launched a dedi-cated Google Cloud
Centre of Excellence (COE) to drive digital transforma-tion of enterprises globally.
The COE will offer its clients a full spectrum of cloud services, which will include consulting, assess-ment, migration, optimisa-tion and support services for enterprises looking to optimise their workloads on Google Cloud.
“Tech Mahindra’s deep
Tech Mahindra launches Google Cloud Centre of Excellence
industry expertise and proven solutions that focus on seamless modernisation of infrastructure, applica-tions and data to the Cloud, combined with the power
of Google Cloud, will help acceler-ate the Cloud journey for enterprises as they move towards a digital-first future. As
part of our TechMNXt charter, Tech Mahindra is focused on leveraging next-generation technologies to enable our customers drive growth and enhance cus-tomer experience,” Vivek Gupta, Global Head Cloud Services, Tech Mahindra, said in a statement.
Meanwhile, Ash Willis, Head of Channels and Al-liances, Google Cloud in Asia Pacific was excited that Tech Mahindra contin-ues to invest in the project.
“Together, we provide our customers with secure, scalable and agile cloud-based digital platforms to scale their business and ease their migration to the Cloud,” Willis said.
The COE will also pro-vide enterprises with ac-cess to technology and ser-vices they need to expedite their Cloud migration. Oth-er than that, it will deliver tailored solutions to help them move critical work-loads to Google Cloud, develop Artificial Intelli-gence (AI) and data analyt-ics solutions and improve workplace productivity.
As per the latest IBAI (Indian Brokers As-sociation of India)
report, Liberty General In-surance ranked no. 1 for its claim settlement ratio, and claim settlement efficiency ratio which stood at 82.54pc and 87.64pc respectively among the Small Private Sector General Insurers in India.1) The highest claims set-tlement ratio
Liberty General Insur-ance had Claims Settlement ratio 82.54pc for the year ending March 31, 2019. Number of Claims available for processing for the year ended March 31, 2019 were 1,58,2232) The highest claims set-tlement efficiency ratio
IndusInd Bank has an-nounced the launch of ‘PIONEER’ Banking, its
wealth management plat-form, which caters to the
high net worth segment of customers. Based on state-of-the-art research based capabilities of the bank, this new service merges be-spoke wealth management solutions with a wide array of personal & commercial
Liberty General Insur-ance had Claims Settlement Efficiency Ratio 87.64pc for the year ended March 31, 2019. Number of Claims available for processing for the year ended March 31, 2019 were 1,58,223
Liberty General Insur-ance Limited is a joint ven-ture between Liberty Cit-ystate holdings PTE Ltd, a group company of US Head-quartered Liberty Mutual Insurance Group, a leading multinational property and casualty group, Enam Secu-rities, a privately owned and managed firm that makes long-term investments in listed companies, as well as backs entrepreneurs build-ing valuable private compa-nies and DP Jindal Group,
banking products, curated to suit the requirements of the discerning few.
Speaking.about the launch, Romesh Sobti,
Managing Director, In-dusInd Bank said, “The bank has served client needs for wealth manage-ment as a key priority over the years. The introduction of the ‘PIONEER’ wealth management platform is a
an industrial conglomerate. Liberty General Insurance commenced operations in 2013 with the aim of provid-ing comprehensive retail, commercial and industrial insurance solutions. The company has an employee strength of 1100+ over a network of 60 offices in 58 cities across 23 states. Its partner network consists of about 5000 hospitals and more than 3100 auto service centres. The company offers health and personal acci-dent insurance, car and two-wheeler insurance, employ-ee compensation insurance, commercial insurance, fire and engineering insurance, marine insurance and other miscellaneous insurance products in India.
step further in that direc-tion. Through this offering, we are bringing together superior privileges and life-style benefits, along with a
wide array of curated banking products that suit the requirements of our valued custom-ers. Built on the prin-ciples of trust, trans-parency, simplicity & service, the PIONEER programme has been crafted for the pioneers of today, and aims to restore the lost art of Wealth Management.”
Sumant Kathpalia, Head - Consumer Banking, IndusInd Bank said, “At In-dusInd Bank, our aim has always been to offer con-venience while delivering a superior banking experi-ence to all our customers. The launch of the PIO-
NEER wealth management platform is a true testament of this effort. Flanked by the best-in-class rewards coupled with a sharp fo-cus on convenience, we strongly believe, that this new proposition will ca-ter to the distinct and ad-vanced wealth needs of our HNI client segment. With its wide geographical pres-ence across the country, In-dusInd Bank is well poised to take the PIONEER plat-form that extra mile, which will add significant value to our customer’s banking journey.”
Samir Dewan, Head - Affluent Banking and Cli-ent Experience, IndusInd Bank said, “At IndusInd Bank, it is our constant en-deavour to introduce new experiences for our valued customers.”
Liberty General Insurance has highest claims settlement
IndusInd Bank launches wealth mgmt platform
Auto component maker Sundram Fasteners, part of
the diversified conglomer-ate TVS Group, has inaugu-rated a Rs 100-crore manu-facturing facility at Sri City SEZ in Andhra Pradesh.
The plant has already begun commercial produc-tion and even shipped its first consignment to Ger-many this week. According to the company, the plant will produce and export high precision engineering components to a leading European manufacturer for onward supply to its global marquee OEM customers for their existing as well as new programmes. “The new unit will provide fur-ther impetus to the compa-ny’s export thrust through addition of products to its
Private sector lender Axis Bank said that it plans to raise
up to Rs 4,175 crore through the issuance of
non-convertible deben-tures (NCDs) on a private placement basis. “The committee of whole-time directors of the bank has approved the allotment of 41,750 senior unse-cured redeemable non-convertible debentures of the face value of Rs 10
Mortgage finance major HDFC is mulling to invest
up to Rs 100 crore per year in technology startups, its chairman Deepak Parekh said.
The largest mortgage lender will install a dedi-cated team understand-ing the startup ecosystem to do the investments, he said.
The announcement comes at a time when there is a lot of focus on the policy front to encourage startups with an objective of encouraging innovation and creating employment opportunities.
Many corporate entities and also the largest lender SBI have been creating in-
Sundram Fasteners sets up plant in AP Axis Bank to raise up to Rs 4,175 crore via NCDs
HDFC to invest Rs 100 cr per year in tech startups portfolio as well as diver-
sifying its export customer base,” the company said in a statement.
Meanwhile, the compa-ny reported 9.95 per cent decline in its consolidated
net profit at Rs 105 crore for the third quarter ending December 2019, as against Rs 116 crore it reported during the corresponding period a year ago. Con-
lakh each, for cash, at par aggregating to Rs 4,175 crore,” Axis Bank said in a regulatory filing.
The coupon rate for
the issue will be 7.65 per cent per annum, the filing added. The said debentures rated ‘AAA/Stable’ by rating agencies CRISIL and ICRA, will be listed on the wholesale debt market segment of BSE and NSE, the filing said.
house funds to invest in startups.
“At the last board meet, I took an idea of invest-ing Rs 100 crore per year in startups,” Parekh said, speaking at the annual Tiecon event here.
He said just like the idea to branch out into univer-sal banking, the board had reluctance with the idea of investing in startups as well, but underlined that he believes there is a need to invest in ideas of the fu-ture in the tech space.
The company will be creating an in-house team at the headquarters to take charge of investments and exuded confidence that they will start operating in two months.
solidated total revenue too plunged 28 per cent to Rs 835 crore in Q3FY20 from Rs 1,159 crore in Q3FY19.On a standalone basis, its net profit fell 7.6 per cent at Rs 104 crore during the
third quarter as against Rs 111 crore in the same period last year. Standalone revenue too was down 32 per cent at Rs 693 crore in Q3FY20 compared to Rs 1,019 crore dur-ing the same period the previ-
ous year. Owing to declin-ing industry volumes, do-mestic sales was lower at Rs 446 crore in Q3FY20 as against Rs 608 crore a year ago, the company added.
Consumer lending start-up MoneyTap has secured capital
to the tune of Rs 500 crore in a mix of equity and debt, which will help it fund its planned aggressive expan-sion into the Indian micro-finance market.
The equity funding round was led by Aquiline Technology Growth, RTP Global and Sequoia India, alongside a few undisclosed South Korean and Japanese investors. Existing investors Prime Venture Partners and MegaDelta also participated in the round. According to the company, apart from eq-uity, debt capital has been
MoneyTap secures Rs500crsecured from Vivriti Capital, Credit Saison and others in the form of co-lending and credit lines. The company, founded in September 2015 by Bala Parthasarathy — the former managing partner and founder of Prime Ven-ture Partners — Anuj Kack-er and Kunal Varma, targets customers in the 29-31 age group with average incomes of Rs 30,000-Rs 40,000 per month. Focused on offering easy credit access to young professionals, the app offers instant loans ranging from between Rs 15,000 to Rs 5 lakh charging an interest of 15-19pc per annum.
The firm is tapping into
the largely untapped mi-crofinance market to fuel its growth. Users look-ing for personal loans can get an approved limit of Rs 5 lakh, but will only be charged interest on the amount they actually use from this corpus. Mini-mum withdrawal limit has been set at Rs 3,000. The limit is recharged every time the borrower pays back the amount used. The company secured an NBFC licence from the RBI last year and a large portion of the debt raised will be used to kickstart those op-erations, according to Par-thasarathy.
The UK govern-ment has launched 4 million pound
(about Rs 37 crore) fund in India to support col-laborative research into emerging technologies.
Innovation Challenge Fund will encourage in-dustry and academia to collaborate and develop tech solutions for social, economic and environ-mental challenges in In-dia, a statement said.
The initiative is fo-cused on two major tech clusters: artificial intelli-
UK launches £4m Innovation Challenge Fund in India
gence/ data in Karnataka and future mobility in Maharashtra.
The successful bid-ders will likely have in-ternational partners, in-cluding from the UK, the statement said.
The challenge fund is looking for propos-als in areas of safety and convenience, technology leap (energy storage tech, temperature-controlled transport, drone mobil-ity), connectivity, and recycling and upgrading apart from smart mobility.
PhonePe, one of the leading digital payments firms in India backed by global retail giant Walmart, has an-nounced its foray into the insurance, mutual fund and
instant-cash segments to tap the fast-growing digital pay-ments industry, which is expected to touch $10 trillion by 2027.
PhonePe, according to sources, wants to leverage its fast-growing user base, now consisting of 18.5 crore people, to enter the insurance as well as instant-cash markets. “Phone-Pe is bullish on the finance sector and has come up with var-ious offerings in the insurance and mutual fund segments. We can expect more announcements for the finance sector in future from the digital payments major,” they said.
The Bengaluru-based fintech firm has announced two major tie-ups — with Aditya Birla SunLife Mutual Fund and Bajaj Allianz General Insurance — to offer its users benefits on mutual funds and travel.
PhonePe’s tie-up with Aditya Birla Sun Life Capital (AB-SLC) will allow its users invest in ABSLC’s liquid fund.
Phone pe extends to insurance, MF, ATM
8 Travel / Entertainment Friday, January 31, 2020
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As on 30th January, 2020 (In rupees)
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A view of the illuminated Rashtrapati Bhavan, South and North Blocks during the “Beating Re-treat” ceremony at Vijay Chowk in New Delhi. Beating Retreat marks the return of the military to their barracks after participating in the Republic Day parade.
Airlines halt China fl ightsas virus toll hits 170Foreign airlines began
suspending flights to and from China on
Wednesday as global fears mounted over a coronavi-rus epidemic that has killed 170 people and infected around 6,000.
The flight announce-ments came hours after some countries began airlifts of their nationals trapped in Wuhan, the quarantined central Chi-nese city of 11 million peo-ple at the epicenter of the health emergency. Among the 206 Japanese nation-als who returned home, 12 were hospitalised for tests
and monitoring because they felt unwell or showed flu-like symptoms.
A growing number of governments — including the US, Britain and Germa-ny — have advised their cit-izens to avoid non-essential travel to China over con-cerns about the viral out-break. China has urged its own citizens to delay trips abroad, with at least 15 countries having confirmed cases of the disease.
The UAE reported the first known case in the Mid-East on Wednesday. British Airways was the first major airline to announce a to-
tal suspension of flights to and from China, citing the travel caution of the for-eign office. “We apologize to customers for the incon-venience, but the safety of our customers and crew is always our priority,” the airline said in a statement. Indonesia’s Lion Air Group, Southeast Asia’s largest car-rier by fleet size, then said it would halt services to and from China from Satur-day “until further notice”. Meanwhile Kazakhstan, an important China trade part-ner, stopped issuing visas to Chinese citizens and said it would halt cross-border
passenger train traffic and suspend regular flights be-tween the neighbours.
Airlines from India, Myanmar and Nepal also announced suspensions of all China routes. Cathay Pacific has reduced flights, citing low demand and the Hong Kong government’s response plan against the virus.
The scale of the deepen-ing crisis was emphasized with the total number of infections on the Chinese mainland exceeding that of the Severe Acute Respira-tory Syndrome (SARS) out-break of 2002-03.
The railways has iden-tified six new high-speed and semi-high
speed rail corridors in the country and also four new Dedicated Freight Corridors (DFCs) and the detailed project reports on these sections has been sought.
Railway Board Chair-man V K Yadav said: “The railways has identified six sections for high speed and semi-high speed rail cor-ridors. And the detailed project report on all these sections will be completed within one to two years.”
He said the railways has identified six new corridors for the high-speed or semi-high speed are — 865 km
Railways identifi es six high-speed corridorsDelhi-Agra-Lucknow-Vara-nasi, 886 km Delhi-Jaipur-Udaipur-Ahmedabad, 753 km Mumbai-Nashik-Nag-pur, 711 km Mumbai-Pune-Hyderabad, 435 km Chen-nai-Bengaluru-Mysuru and 459 km Delhi-Chandigarh-Ludhiana-Jalandhar-Amrit-sar corridors.
He said the internal study on the traffic poten-tial and feasibility has been made for these corridors and on the funding aspect the railways is thinking of pub-lic private partnership or loan from the international agencies. Yadav further said that the work on the Dedi-cated Freight Corridor will be completed by Dec 2021.
He said: “Already we have started operations on over 500 km of the East-ern Dedicated Freight Cor-ridor (EDFC) and Western Dedicated Freight Corridor (WDFC).” Giving the de-tails, he said on EDFC, op-erations have started on 194 km between Khurja-Badhan and on 306 km stretch between Madar-Re-wari on WDFC. The 3,373-km DFC, a flagship project of the railways, aims to augment rail transport ca-pacity to meet the growing requirement of movement of goods by segregating freight from passenger traf-fic. The Western DFC runs from Jawaharlal Nehru Port
in Mumbai to Tughlakabad and Dadri near Delhi, and aims to cater largely to the container transport require-ments between the existing and emerging ports in Ma-harashtra and Gujarat and the northern hinterland.
The 1,839 km Eastern DFC runs from Ludhiana in Punjab to Dankuni near Kol-kata — to be extended in fu-ture to serve the new deep-sea port proposed in the Kolkata area, and will large-ly handle coal and steel traf-fic. The Dedicated Freight Corridor Corporation of India plans to run freight trains at a maximum speed of 100 kmph as against the current 75 kmph.
The 25th edition of Dubai Shopping Festival (DSF) has announced
a series of concerts, events, entertainment and interactive activations for its final week-end. On Thursday, singers Rashed Al Majid and Majid Al Mohandis performed at a sold-out concert at Coca Cola Arena. Al Majid is a musical sensation and one of the most famous singers in the MidEast while Majid Al Mohandis is said to have the “Voice of a Diamond”.
Coca-Cola Arena will also host on Friday US sing-ing legend, John Legend. Syrian singer Faia Younan will also perform on the same night and organisers
Dubai Shopping Festival closing this week-end
said tickets are quickly sell-ing out. Those looking for a night of traditional Arabic songs should catch the live performance by popular Saudi singer Ayed Yousef at Global Village on Friday on the main stage. Gaming en-thusiasts should check out the Fortnite event at Swyp Market Outside the Box (MOTB), Burj Park, Down-town Dubai which is taking place till Saturday. Interna-tional and regional gamers will make an appearance including YouTube sensa-tion FaZe Adapt.
Art lovers can catch Liz Pichon’s illustrations come to life during an on-stage pro-duction of Tom Gates at the
Theatre in Mall of the Emir-ates until Saturday while a major festival will take place in Wahat Al Zaweya on Dubai-Al Ain Road where visitors will get to fly kites on Friday from 10am to 6pm.
The world-class theatrical production Mughal-e-Azam will also be on show at Dubai Opera till Saturday while the closing week-end of DSF will also feature a range of fire-work displays in every corner of the city over the same pe-riod. Fireworks will go off at 7:30pm at The Frame, 8:30pm at The Beach; 9:30pm at La Mer and 10:30pm at Al Seef. The DSF Final Sale runs until Saturday with offers of up to 90pc off.Now, take aerial tour of
Muscat on helicopterA Muscat city tour
onboard a helicop-ter is now possible
with Al Sharqiya Aviation, which launched its first op-erations . It may be noted that the Public Authority of Civil Aviation (PACA) is-sued an air operator’s certif-icate to the Sharqiya Avia-tion Company last week, allowing it to start services with immediate effect.
Speaking to a TV chan-nel, Adam al Rashdi from Sharqiya Aviation, said that five passengers on board a helicopter can now take an aerial tour of the city start-ing from Muscat Bay he-lipad to discover the city from the sky, over the Mut-trah seafront, Qantab, and
other scenic places of the capital.” He added: “With the helipad facilities at Muscat International Air-port and Muscat Bay, we are ready to offer charter solu-tions that will benefit vari-ous sectors such as logistics and tourism.”
He added: “Currently we can do an aerial city tour from different loca-tions, private transfer from/to any possible spot or do any logistic services upon request.” “In the coming months, Al Sharqiya Avia-tion will receive its second helicopter, which can take up to eight passengers and support other industries”.
According to PACA: “The licence has been of-
fered to Al Sharqiya Avia-tion for the first-of-its-kind services to be operated both inside and outside the Sul-tanate, and join the exist-ing national air operators, which will contribute to the wheel of development in the Sultanate’s aviation industry.” PACA said the permit comes within the framework of its efforts to develop the aviation sector in the Sultanate by allow-ing the private sector to ex-pand its activities according to approved standards. In a statement, Dr Mohammed bin Nasser al Zaabi, CEO, PACA, underlined the role played by the authority in the development of the avia-tion sector in the Sultanate.
IndiGo meet turns stormyThe InterGlobe Avia-
tion EGM turned into a stormy affair as the
shareholders created a ruckus over Rakesh Gangwal’s ab-sence even though he had pressed for the meeting to move a special resolution seek-ing to amend the articles of as-sociation of IndiGo Airlines’ parent. Co-founder Rahul Bha-tia attended the meeting.
Gangwal has been locked in a bruising battle with Ra-hul Bhatia for over a year, alleging shortcomings in corporate governance prac-tices and dodgy related-par-ty transactions between Bha-tia’s firms and the country’s largest airline. The share-holders’ agreement between Gangwal and Bhatia ended last November (which re-quired them to act in concert at all times) but Gangwal is unable to sell his stake or ne-gotiate a fair deal with Bha-tia for his shares as the AoA
contains a proviso that con-fers the right of first refusal to either of the founders when the other party wishes to sell his stake.
Shareholders turned liv-id when they did not get the opportunity to grill Gang-wal to determine why he was pushing for an amend-ment of the AoA, believing that this presaged his desire to sell his stake. They were also angry over the falling stock price of InterGlobe Aviation, precipitated by the very public battle be-tween the two founders.
“The fight between the promoters has led to a fall in share prices, which is affecting our returns and Bhatia did not even say anything to calm nerves,” some minority shareholders said. They rejected a special resolution of co-promoter Gangwal to amend the com-pany’s Articles of Associa-
tion (AoA), which would have done away with the other co-promoter Rahul Bhatia-led group’s powers over appointment of key managerial personnel. “The Special Resolution has not been passed as the votes cast in favour (48.55pc) of the resolution are less than three times the number of votes cast against (51.44pc)
the resolution,” Inter-Globe Aviation said in a BSE filing after the extraor-dinary general meeting. For the special resolution to pass, Gangwal and his pro-moter entities, which had called an extraordinary gen-eral meeting (EGM), needed 75pc of the votes.
Bhatia and affiliates — InterGlobe Enterprises (IGE) Group — has around 38pc in the company and Gang-wal and his related entities own around 36.64pc.
The shareholders’ agree-
ment also contained the tag-along clause that allowed a minority shareholder to exit along with a major sharehold-er who is selling his stake.
Gangwal also wanted to remove an article that restricts either of the co-founders from purchasing publicly-listed shares in In-terGlobe and the tag-along right. While these changes could potentially trigger an open offer for the rest of the company, more importantly, they would allow Gangwal or Bhatia to increase or reduce their shareholdings in Indi-Go. A section of shareholders sought clarity on what would be the future course of action for the equity held by Gang-wal, to which, IndiGo board chairman M Damodaran said it is for the promoter to decide what he wants.
CEO and whole-time director Ronojoy Dutta, co-founder Rahul Bhatia, his
wife Rohini Bhatia, chief fi-nancial officer Aditya Pande, M Damodaran, company secretary Sanjay Gupta and non-executive director Anil Parashar were present at the EGM. Non-executive inde-pendent director Pallavi Shar-dul Shroff was not present.
Deal signed to fi nance Bahrain medical cityAn agreement has
been signed to fi-nance the construc-
tion of new buildings at the King Abdullah bin Abdu-laziz Medical City Hospital in Bahrain. The agreement was signed between Arabi-an Gulf University and the Saudi Fund for Develop-ment (SFD).
The project, which was directed to be established by the late King Abdullah bin Abdulaziz Al Saud, who donated SR1 billion to fund the project, is being built on a million sq m plot of land allocated in the Southern Governorate as per the in-structions of Bahrain King Hamad bin Isa Al Khalifa.
It was also announced that Al Fouzan Contracting Company has been hired to implement the project. The contract has set a period of 30 months, with plans for the medical city to be op-erational by the beginning of 2022.
Education Minister and chairman of the Higher Ed-ucation Council Dr Majid Al Nuaimi said the King
Abdullah bin Abdulaziz Medical City project “will constitute a qualitative ad-dition to the facilities of this reputed university and to the services it provides”. The medical centre will in-clude 288 beds while the medical city will also in-clude a number of research centres, as well as a college of medicine, Bahrain News Agency previously reported.
Goans cannot enter casinos from Feb 1
Goa Chief Minister Pramod Sawant has said that people of
the state will not be allowed entry into the casinos op-erating in the state starting Feb 1. Talking to reporters in Panaji, Sawant said the Commissioner of Goods and Services Tax, who is also the gaming commissioner, will implement the ban.
A large number of Goans and several political parties, including the Congress, had been seeking a ban on the casinos in the state, alleging that these establishments were against the local cul-ture and causing financial devastation for families. The coastal state is home to six offshore and a dozen on-shore casinos that witness a heavy footfall of tourists and locals alike.
