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Amaco Jubail emerge champions of ‘JF Winter Cup 2019’

Media Release
February 5, 2019

Jubail: Excitement, passion, color and the cricketing excellence of “JF WINTER CUP 2019” a knockout cricket tournament for noble cause got off to an exhilarating annual event of sports at SABSA Cricket Ground at Rakah (Al-Khobar) in the eastern province of Saudi Arabia. The extraordinary cricket Tournament was organized by Dammam Unit of ‘Jamiyyatul Falah’ a charitable organization.

The foggy, dusty and cold weather conditions in the morning didn’t changed the mood of Cricket Tournament and it took off smoothly with great piece of enthusiasm by all the players of 8 top cricket teams of Eastern Province. All the matches played had shown a marvelous piece of performance and the real sportsman spirit was displayed by all the players during the Tournament. The excitement and interest towards the game was beautifully exhibited by all the teams despite of 8 over a side match.

Nizamuddin Shaikh, President of JF Dammam Unit and Ahmed Kabeer, Chairman of the tournament inaugurated the opening ceremony and Mohammed Siraj, the sports event manager had described the rules and regulations on the ground to all the Cricket Teams and the inaugural match of the preliminary round was started off on-time and followed by all other matches as scheduled. All preliminary and quarter final matches were played in the morning and afternoon session and the Semi-Finals and Finals were played under delightful atmosphere.

Amaco Jubail won JF Winter Cup 2019, beating Blue Stars Dammam by 7 wickets in the finals played at SABSA Cricket Ground.

Amaco won the toss and opted to file first. Blue Stars lost their first wicket of Imran very quickly in the 2nd ball of the match. The fine all-rounder Khashif joined Nihal and both played sensible innings and built up strong partnership for 35 runs for the 2nd wicket and Khashif got out when the score is 36. In the middle Blue Stars lost their vital wicket of Nassir for duck. At this crucial stage Salman joined Nihal and both batsmen played more carefully and added 20 runs and took the score to 64 in 4th over. After the fall of Salman, Blue Stars middle order batsman’s find difficult to score runs against fine bowling and fielding performances by AMACO players. Blue Stars keep losing the wickets and managed to reach a total of 70/7 in allotted 8 over. Nihal 31, Khashif 25 and Salman 10. AMACO bowler Shafeeq bowled magnificent bowling spell by keeping good line, length and grab 3 important wickets. He took 3/11 &, Muthalib took 2/25.

On Chase, Rameez and Muthalib opened the innings and they lost important wicket of Muthalib when the score was 4. At this moment, good striker of the ball, Saleem joined Rameez. Both batsmen played magnificent innings by hitting Blue Stars bowlers all over the ground and added valuable 50 runs for the 2nd wicket. The lost the vital wicket of Rameez when the score was 51. Also, AMACO lost the wickets of Bala in the quick gap. On the other hand Saleem took the challenge and played remarkable innings of unbeaten 39 runs and took his team for glorious victory in 6th over. Saleem smashed 4 huge sixes and 2 boundaries in his innings. AMACO were 73/3 in the 6th over. Saleem not out with 39 and Rameez 13. Blue Stars bowler Salman took 3 for 16.

Prior to the Mega Finals, 1st Semi Finals was played between Blue Stars Vs Shine Arabia. Batted first Blue Stars were 82/7. Asir 24, & Khashif 24. In reply Shine Arabia was able to reach 54/8 in allotted 8 over. Salaam scored 23.

The 2nd Semi Finals was played between Karavali Vs AMACO. Karavali batted first and made 64 in allotted 8 over. Faran 13 and Shail 28. In reply AMACO were chasing a target of 68/1 in the 6th over. Rameez 21 and Saleem 22.

The first half of the Tournament was well executed by all the 8 Cricket Teams. The second half of the Tournament – the post-match presentation and the closing ceremony – was hosted by Rafiq Nariyar. The program commenced with Qirath by Ameen Shaikh. Nizamuddin Shaikh, President of JF Dammam Unit, addressed the audience with his welcome speech and thanked the audience for their kind presence. A brief presentation of Jam’iyyatul Falah was offered by Ahmed Kabeer, Chairman of the Tournament.

The presence of prominent guests and audience had built a pleasant environment of joy and happiness on the ground and their presence was appreciated by the Host. The Main Sponsors for the Cricket Tournament “EXPERTISE”, “RAQWANI COMPANY”, “KMT” and “ZAMIL INFO SERVICES” were presented with memento. The main sponsors and distinguished guests had shared and invited on the dais.

The host took the opportunity on behalf of JF Dammam Unit and tribute all the wonderful moments of “JF Winter Cup 2019” to all the players of 8 Cricket Teams for showing the great sportsman spirit throughout the Tournament and received a huge applaud from the great audience. He thanked all the 8 Cricket Teams and encouraged them as a WINNER of ‘JF Winter Cup 2019’, because they all played for the Noble Cause, for which JF Dammam Unit is always thankful for their charitable contribution.

The success of the tournament was dedicated to its Main Sponsors, Co-Sponsors and all the well-wishers of Jam’iyyatul Falah, who had been a great support and foundation to “JF Winter Cup 2019”, and their encouragement had given the opportunity to JF Dammam Unit to work for the betterment of the community back home.

Office Bearers of JF Dammam Unit presented the memento to all the Main Sponsors, Co-Sponsors and Well Wishers of Jam’iyyatul Falah.

Subsequently, the prize distribution ceremony was hosted by Mohammad Siraj and he announced the winners for their performance in the Preliminary, Quarter Final, Semi-Final and Finals. Individual awards were presented to different players in various categories.

Best Batsman awarded to Khashif of Blue Stars

Best Bowler awarded to Thafseer of AMACO

Best Wicket Keeper awarded to Niyaz of AMACO

Best Outfielder awarded to Salman of Blue Stars

Saleem of AMACO judged “Man of the Tournament” for his remarkable batting performance throughout the tournament.

Man of the Match for FINALS was awarded to Shafeeq of AMACO.

Niyaz, the Captain of “AMACO” Cricket Team collected the Winner’s Trophy from Chief Guest Masood Ali Al-Dalbouh and at the same time, each winning players had collected their individual trophies. Jabbar, the Captain of “BLUE STARS” Cricket Team collected the Runners-up trophy from JF Dammam Unit’s President Nizamuddin Shaikh and the players were distributed with their individual trophies.

Vote of thanks was proposed by Shahul Hameed, ex-President and ex-NRCC Ameer of JF Dammam Unit.

'

Comments

JF Well-Wisher…
 - 
Tuesday, 5 Feb 2019

CONGRATULATIONS........ to all the Sports Working Committee and Executive Members for making another SUCCESS event of Sports for the NOBLE CAUSE. Every year I attend and hard miss your events. I would like to appreciate the TEAM-WORKS you guys have is amazing and its inspiring to other organizations. May Allah bless your organization to grow year afte year to build a better society back-home - Aameen. Keep it up and looking forward to attend your Family Get-Together Event soon - IN-SHA-ALLAH.

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News Network
March 6,2020

New Delhi, Mar 6: Shares of YES Bank and State Bank of India came under huge selling pressure on Friday as developments unfolded regarding SBI picking stake in the private lender. Shares of the lender hit record low of Rs 5.55, plunging 85 per cent, and were trading below its previous low of Rs 8.16 hit on March 9, 2009.

SBI, on the other hand, slumped 11 per cent to Rs 257.35 on the BSE. The benchmark S&P BSE Sensex was trading with a cut of over 3 per cent at 37,251.37 level.

In the past three months, share price of the private lender has plunged 41 per cent, while the state-owned lender has slipped 14 per cent. In comparison, the S&P BSE Sensex has dipped 5.6 per cent till Thursday.

On Thursday, the Reserve Bank of India superseded the board of troubled private sector lender YES Bank and imposed a 30-day moratorium on it “in the absence of a credible revival plan” amid a “serious deterioration” in its financial health.

During the moratorium, which came into effect from 6 pm on Thursday, YES Bank will not be allowed to grant or renew any loans, and “incur any liability”, except for payment towards employees’ salaries, rent, taxes and legal expenses, among others.

This is the first time that a bank of this size will be put under a moratorium by the RBI.

“The financial position of YES Bank had undergone a steady decline “largely due to inability of the bank to raise capital to address potential loan losses and resultant downgrades, triggering invocation of bond covenants by investors, and withdrawal of deposits,” RBI said in a statement.

“After the moratorium, the next step will be to infuse to money and keep the bank afloat. So from shareholders’ point of view, the future is certainly hazy as the capital requirement is huge. The good part, however, is that the RBI has stepped in and depositors don't have to worry,” says Siddharth Purohit, a research analyst at SMC Securities.

Meanwhile, analysts at Nomura believe that placing the Bank under moratorium implies that equity value in the bank would be negligible, and that the chances of private capital participating in future capital raising plan are near zero.

"Any resolution for Yes Bank is more proposed from the perspective of deposit holders and systemic stability, and not from the perspective of Yes Bank equity investors or even perpetual bond holders," they wrote in a note dated March 6.

In another development, SBI’s Board Thursday gave in-principle approval to consider an “investment opportunity” in YES Bank, even as it said “no decision had yet been taken to pick up stake in the bank”.

According to a  report, highly-placed sources indicated a rescue plan involving SBI and Life Insurance Corporation of India (LIC) was being discussed and an announcement in this regard might be made soon.

“While the finer details of the deal are being worked out, it is anticipated that both SBI and LIC together will take a 51 per cent stake in the bank, with a one-year lock-in period,” the report said.

Most analysts believe it is a positive step for the Indian financial sector as the government has tried to avoid a repeat of IL&FS-like crisis.

“The move is a positive step for the financial sector as a whole. By this, the government has tried to avoid a repeat of IL&FS-like crisis and has saved the depositors,” said AK Prabhakar, Head of Research at IDBI Capital. While we know that YES Bank has a huge pile of bad loans, SBI is the only bank that has the capacity to absorb it, he added.

However, the valuation at which YES bank would be taken over remains a cause of concern.

Global brokerage firm JP Morgan Thursday cut its target price for YES Bank on Thursday to Rs 1 per share, taking into account the potential fall in the lender’s net worth due to stressed assets.

“We believe forced bailout investors will likely want the bank to be acquired at near-zero value to account for risks associated with the stress book and likely loss of deposits. We think the bank will need to be recapitalised at nominal equity value and could test dilution of additional tier 1 (AT1) capital. We remain underweight and cut our target price to Rs 1 as we believe net worth is largely impaired,” JP Morgan said in a note.

Global brokerage firm Nomura estimates a need of Rs 25,000-44,000 crore and adjusted for Rs 7,400 crore of current coverage, if the current stress of Rs 65,000-70,000 crore faces 70 per cent loss given default (LGD).

"It implies Rs 18,000-37,000 crore needed for provisioning against the current net worth of Rs 25,700 crore Also, to run as going concern, the bank would require over Rs 20,000 crore of CET-1 capital as well," the note said.

YES Bank has registered slippages of Rs 12,000 crore so far in FY20, while it has placed Rs 30,000 crore of loan assets under the watch list. Its deposits stood at Rs 2.09 trillion on September 30, 2019, while its advances totalled Rs 2.24 trillion. The bank has delayed publishing its December quarter results by a month to March 14.

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News Network
June 16,2020

New Delhi, June 16: Tensions along the Line of Control border between India and China have spiked with an Indian army officer and two soldiers killed in the Galwan area of Ladakh, the Indian army said in a statement on Tuesday.

This is the first time in decades that a clash involving casualties has taken place on the 3,488 kilometre border between India and China.

"During the de-escalation process underway in the Galwan Valley, a violent face-off took place yesterday night with casualties. The loss of lives on the Indian side includes an officer and two soldiers. Senior military officials of the two sides are currently meeting at the venue to defuse the situation," said an official statement.

The two sides had made headway in talks last week with army chief General MM Naravane saying disengagement was in progress. The development had come after weeks of tension, including an incident in which patrolling soldiers from the two sides came to blows on the banks of Pangong Lake, resulting in injuries.

The two armies have since thinned out some forces in a positive signal but soldiers, tanks and other armoured carriers remained heavily deployed in the high-altitude region, an official had said.

India and China fought a brief border war in 1962 and have not been able to settle their border despite two decades of talks. Both claim thousands of kilometres of territory and patrols along the undemarcated Line of Actual Control - the de-facto border - often run into each other, leading to tensions. 

Comments

Angry Indian
 - 
Tuesday, 16 Jun 2020

where is our angry desh bakth RSS and sanghi...hiding in rat hole or @%#hole...now you can show your 56 inch chest to chinese...when pakistan destroyed our two fighter jet that time i relised we are making an monkey army not indian army...still time exist, still we have courage army...but we lack leader...we have maron PM...and some dog follower..they only know to bark in media and whatsapp...in reality they are just real na pustak...

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News Network
July 27,2020

Tokyo, Jul 27: Gold hit an all-time high on Monday as tit-for-tat consulate closures in China and the United States rattled investors, boosting the allure of safe-haven assets, although sentiment was mixed with tech gains supporting some Asian stocks.

MSCI's ex-Japan Asia-Pacific index rose 1.3 percent as Taiwan's TSMC, Asia's third-largest company by market capitalisation, rose almost 10 percent.

The chipmaker's gains boosted other tech stocks in the region and came after rival Intel signalled it may give up manufacturing its own components due to delays in new 7-nanometer chip technology.

Also soothing sentiment, Chinese shares eked out gains after big falls late last week, with CSI300 index rising 0.5 percent.

S&P500 futures were last up 0.4 percent in choppy trade while Japan's Nikkei fell 0.5 percent, resuming trade after a long weekend and catching up with falls in global shares late last week.

Global shares had lost steam last week after Washington ordered China's consulate in Houston to close, prompting Beijing to react in kind by closing the US consulate in Chengdu.

US Secretary of State Mike Pompeo took fresh aim at China last week, saying Washington and its allies must use "more creative and assertive ways" to press the Chinese Communist Party to change its ways.

"US President (Donald) Trump used to say China's President Xi Jinping is a great leader. But now Pompeo's wording is becoming so aggressive that markets are starting to worry about further escalation," said Norihiro Fujito, chief investment strategist at Mitsubishi Securities.

Gold rose 1.0 percent to a record high of $1,920.9 per ounce, surpassing a peak touched in September 2011, as Sino-US tensions boosted the allure of safe-haven assets, especially those not tied to any specific country.

The yellow metal is also helped by aggressive monetary easing adopted by many central banks around the world since the pandemic plunged the global economy into a recession.

Some investors fret such an unprecedented level of money-printing could eventually lead to inflation.

MORE STIMULUS

Hopes of a quick US economic recovery are fading as coronavirus infections showed few signs of slowing.

That means the economy could capitulate without fresh support from the government, with some of earlier steps such as enhanced jobless benefits due to expire this month.

Investors hope US Congress will agree on a deal before its summer recess but there are some sticking points including the size of the stimulus and enhanced unemployment benefits.

US Treasury Secretary Steve Mnuchin said the package will contain extended unemployment benefits with 70 percent "wage replacement".

Democrats, who control the House of Representatives, want enhanced benefits of $600 per week to be extended and look to much bigger stimulus compared with the Republicans' $1 trillion plan.

Investors are looking to corporate earnings from around the world for hints on the pace of recovery in the global economy.

"It looks like rising coronavirus cases are starting to slow down recovery in many countries," said Masahiro Ichikawa, senior strategist at Sumitomo Mitsui DS Asset Management.

Concerns about the US economic outlook started to weigh on the dollar, reversing its inverse correlation with the economic well-being over the past few months.

The dollar index dropped 0.3 percent to its lowest level in nearly two years.

The euro gained 0.3 percent to $1.1693, hitting a 22-month high of $1.16590 as sentiment on the common currency improved after European leaders reached a deal on a recovery fund in a major step towards more fiscal co-operation.

Against the yen, the dollar slipped 0.5 percent to 105.605 yen, a four-month low while the British pound hit a 4 1/2-month high of $1.2832.

Oil prices dipped on worries about the worsening Sino-US relations.

Brent futures fell 0.46 percent to $43.14 per barrel while US crude futures lost 0.44 percent to $41.11.

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