HDK to go ahead with son's wedding on April 17 with precautionary measures against COVID-19

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.

New Delhi, Feb 13: Two SpiceJet pilots have been suspended today for an improper landing at Mangalore Airport which damaged three runway edge lights. The incident took place on October 31 last year when the private carrier's Boeing 737 aircraft was returning from Dubai.

The Directorate General of Civil Aviation (DGCA) suspended the licenses of the pilots for four-and-half months from the date of the incident.

DGCA had issued a show cause notice to the Pilot in Command and the First Officer demanding explanation of the "lapses" and found their replies unsatisfactory, the aviation watchdog said in a statement.

Investigation revealed that the touchdown was improper as it deviated to the the left on the runway in turn damaging three runway edge lights.

Bengaluru, May 27: Karnataka Chief Minister Yediyurappa on Wednesday said that his government will re-open temples, mosques and churches in the state after May 31.

"We are going to open temples, mosques and churches in the state after May 31, he said while speaking to media in Bengaluru.

The Chief Minister added that the "guidelines will be followed" as suggested by experts for opening the worship places.

"We have no objections to open malls and cinema halls, but we are waiting for the guidelines of the central government, Prime Minister will take decisions to allow malls and cinemas to open," he added.

Yediyurappa has said that people from Gujarat, Maharashtra, Kerala and Tamil Nadu will not be allowed in the state till May 31.