Demonetisation: Banks to use indelible ink while exchanging notes

Dubai, Mar 3: Abu Dhabi-based Indian retail tycoon MA Yusuff Ali has become the first Indian to receive Saudi Arabia's premium residency, his office said in a statement on Monday.

Yusuff Ali, 64, is the chairman of the LuLu Group, who was ranked the richest expat in the UAE by the Forbes magazine last year.

The permit, informally known as Saudi Green Card, grants expatriates the right to live, work and own business and property in the Kingdom without need for a sponsor, the LULU group said in a statement.

The introduction of the Premium Residency comes as a part of Saudi Arabia's Vision 2030 reform plan, which was announced by Crown Prince Mohammed bin Salman to boost the Saudi economy, the statement said.

Yusuff Ali said "obviously a very proud and humbling moment in my life. This is a great honour not only for me but for the entire Indian expat community and I sincerely thank the HM the King Salman, HRH Crown Prince Mohamed bin Salman and the government of Saudi Arabia."

"@Yusuffali_MA , an investor from India, after obtaining Premium Residency in Saudi Arabia: ''The Kingdom became an attractive investment destination due to the remarkable growth in economy," Premium Residency tweeted on Monday.

Yusuff Ali said he was sure that this new permanent residency initiative will further boost Saudi Arabia's image as one of the key investments and business hubs of the region as well as attract and retain new investors.

This initiative is targeting key investors and prominent personalities from various fields, including sports, arts & culture, who have played a defining role in the nation building process.

The Lulu Group owns and operates more than 35 hypermarkets and supermarkets in Saudi Arabia, which includes ARAMCO Commissaries and National Guards super stores.

Bengaluru, Mar 2: The Karnataka Department of Public Instruction has directed the School heads across the State to grant leave to students and staff suffering from fever, cold, cough and other respiratory infections.

As precautionary measure following the COVID-19 (known as coronavirus) outbreak at the global level, the department issued a circular in this regard here on Monday.

If any student, teacher or staff is suffering from respiratory infections, they should be granted leave. They should be allowed to come back to school only after confirming from the doctor that they are cured, the circular added.

Bengaluru, May 17: Karnataka Deputy Chief Minister and Transport Minister Laxman Savadi on Sunday wrote to Union Minister Nitin Gadkari requesting to issue new lockdown guidelines including permission to operate public transport and said the lockdown has caused a financial loss of Rs 16,00 crore to all four Karnataka Transport Undertakings.

In view of these problems, the state Transport Minister requested Gadkari to permit the deployment of Non-AC buses on scheduled routes to ensure the adequacy of services.

The four State Transport Undertakings (STUs) in Karnataka which are providing bus-based public transport services within the state and to the neighbouring states are Karnataka State Road Transport Corporation (KSRTC), North West Karnataka Road Transport Corporation (NWKRTC), North Eastern Karnataka Road Transport Corporation (NEKRTC) and Bangalore Metropolitan Transport Corporation (BMTC).

"KSRTC, NWKRTC and NEKRTC operate buses for mofussil services i.e. Interdistrict, intradistrict and interstate, whereas BMTC operates only in urban and suburban areas in the city of Bengaluru. The four STUs put together hold a fleet of about 24,900 buses including 1,520 air-conditioned buses and operate about 71.00 lakh km. per day and carries about 98.00 lakh passengers every single day," Savadi outlined in the letter.

The Minister said due to the COVID-19 outbreak and the lockdown that ensued have brought regular bus operations and functioning to a grinding halt.

"This has caused a devastating impact on the operations of all the four STUs due to the combination of lack of revenue and continuing fixed costs such as salaries and pensions to staff, payables against existing loans etc. It has been estimated that the lockdown has caused a financial loss of INR 1,600/- crore to these four STUs," he added.

Savadi said even after post-COVID lockdown, operations and revenues won't reach its previous demand& supply patterns in the next six to eight months due to reduced economic activity and users' perceived risk of contacting COVID in public transport.

In addition to that, "occupancy should be allowed up to seating capacity (without standees). This is essential to meet minimal demand," he said in the letter.

"The crew should wear facemask and hand gloves. The crew with health issues should not be deployed. The face masks should be made mandatory for all the passengers. Only asymptomatic persons should be allowed to travel in public transport. The Government of India may consider staggering working hours for various sectors to reduce peak hour traffic demand," the minister listed out these recommendations in the letter.

Savadi said that with social distancing norm of reduced seating capacity in public transport, it will not be possible to provide transport facility to all the daily passengers. This will create demand for more buses, which cannot be met.

"Restrictions on public transport will lead to passenger commute by overcrowding in smaller vehicles like cars, maxi cabs, goods tempos etc. which will adversely affect preventive measures," he added.

Therefore, Savadi requested Union Minister to look into the above matter and issue fresh guidelines to all the states / UT's.