Arathi Krishna meets NRK businessmen, labourers in Jubail

Bengaluru, May 26: The Karnataka government has decided cancel summer vacation for undergraduate and post-graduate students and universities during the 2020-21 academic year in the wake of severe academic loss due to COVID-19 lockdown.

Keeping in mind the loss of academic days due to the lockdown to contain the pandemic, the Higher Education Department has decided to go in for ‘Zero Vacation’. 

The state government decided to cancel all holidays particularly the summer holidays after holding a series of meetings with the Vice Chancellors and other academicians from various parts of the state.

The decision was also communicated during the review meeting of the Higher Education Department held by CM Yediyurappa on Tuesday in Bengaluru.

Udupi, Mar 24: Four people, including two women, suspected to have infected with Coron were admitted to the hospitals in Udupi district

According to the District Administration, in all, 51 samples were sent to the laboratory for test and 40 samples have been tested negative.

The result of remaining 11 swabs were awaited.

At least 21 people had been admitted to the isolation wards of hospitals in the district. Nine had been discharged from the isolation wards after they recovered from the health complications on Monday, it further said.

Apr 12: The board and management of troubled NMC Healthcare should be held accountable for the financial irregularities, said Abdulaziz Al Ghurair, chairman of the UAE Banks Federation.

"Banks have dealt with the exposure professionally and they lent to a company which was listed on FTSE-100 index with world-class regulator and the world's largest audit firm doing their audit. Even if they present their balance sheet today, people will still lend to them. This is a world-class fraud and the management and board members should be held accountable. We should have a different track to handle this company. It is not a normal track that we can go," Al Ghurair said during a virtual press conference on Sunday.

It is estimated that the more than 80 local, regional and international banks have exposure to healthcare firm. The UAE bourses had asked all the listed companies in the UAE to announce their exposure. The UAE banks last week announced nearly Dh10 billion exposure to NMC Healthcare, which is owned by the billionaire BR Shetty.

Abu Dhabi Commercial Bank has the highest exposure to NMC at Dh3 billion. Dubai Islamic Bank and its subsidiary Noor Bank announced Dh2 billion exposure while Emirates NBD and its Shariah-compliant unit Emirates Islamic Bank revealed Dh747.34 million exposure. Ajman Bank has Dh151.8 million while Al Salam Bank pegged its exposure at Dh161.5 million. All these lenders revealed their exposure for the first time on Sunday.

Abu Dhabi Islamic Bank said it had extended Dh1.07 billion in financing to NMC Healthcare, and an additional Dh113.67 million exposure to Islamic bonds issued by NMC.National Bank of Fujairah pegged its exposure to NMC at Dh289.1 million, while Sharjah-based United Arab Bank said its exposure was Dh135.3 million.

NMC recently revised its debt position to $6.6 billion, well above earlier estimates.

London's High Court last week placed hospital operator NMC Health into administration, on the application of Abu Dhabi Commercial Bank.

"I know leading bank in UAE have already legal guardian of the company so now management cannot hide anything. The new team will manage and discover what happened," said Al Ghurair.