Mangaluru: Electric fire chamber installed at Boloor Hindu crematorium

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.

Bengaluru, Apr 22: The Karnataka government has announced partial relaxation of COVID-19 lockdown norms in the state allowing certain construction activities, manufacturing of packaging materials, courier services, among others, from April 23.

The activities will be permitted only outside the COVID-19 containment zones identified by the government.

Service provided by self-employed people like electrician, IT repair, plumbers, motor mechanics, and carpenters in local areas have also been given exemption.

Tea, coffee and rubber plantation have been allowed to work with 50 per cent workforce, and a similar exemption have been given to processing, packaging, sale and marketing of these produce.

“To mitigate hardship to the public, select additional activities have been allowed,which will come into effect from 00.00 hours of April 23,” Chief Secretary TM Vijay Bhaskar said in an order on Wednesday.

However, these additional activities will be operationalised by District Administrations and BBMP (city corporation in the case of Bengaluru city) based on strict compliance to the guidelines on lockdown measures, it said.

Before operating these relaxations, district administrations and BBMP (city corporation) shall ensure that all the preparatory arrangements on social distancing in offices, work place establishments as also sectoral requirements are in place, it said, adding that relaxations will not apply in containment zones.

Facing a financial crunch, the state government has been eager to kick-start economic activities in the state that had come to halt due to the coronavirus lockdown.

While hospitality services, bars, malls, theatres, shopping complexes, religious and places of worship among others will continue to remain shut, relaxation of norms has been for activities that are linked to essential services such as health, infrastructure and agriculture.

As per the order, while, public transportation will continue to remain suspended till May 3,private vehicles with passes for emergency services and personnel commuting with passes to places of work and back will be allowed.

Activities permitted include construction of roads, irrigation projects, buildings and all kinds of industrial projects, including MSMEs, in rural areas and all kinds of projects in industrial estates, where workers are available on site and no one is required to be brought in from outside.

Also permitted to function are manufacturing units of essential goods – drugs, pharmaceuticals, medical devices, their raw materials and intermediates;

food processing industries in rural areas, coal production (mines and mineral production and activities incidental to mining) besides manufacturing units of packaging materials.

Mangaluru, Feb 13: A college student was killed when a bullet tanker knocked his motorbike down near Nanthoor Circle in the city today. 

The deceased has been identified as Karthik Malya, a resident of Mannegudda. He was a final year degree student of Besant College in the city. 

The incident took place when Karthik was from Suratkal to Mangaluru. The bullet tanker reportedly hit the two-wheeler from behind and ran over him. He died on the spot.