Mining baron Janardhana Reddy can’t campaign in Ballari for Karnataka polls: Supreme Court

Udupi, July 17: An Indian expatriate from coastal Karnataka who was working in Kuwait passed away in a hospital in the oil-rich country reportedly due to covid-19.

Sheikh Mohammed Syed (54) was a native of Kharvi in Kundapura taluk of Udupi district. He is survived by his mother, wife and three daughters. 

An ex athletic champion from Bhandarkars' Arts & Science College, he was a well-known Volleyball and Kabaddi player in Kundapur.  He was associated with many sports associations in Udupi. 

An employee of KRH firm, he was hospitalized in Kuwait three weeks ago due to ill health. He was tested positive for covid-19.

He breathed his last yesterday without responding to any treatment. Final rites were held in Kuwait. 

Prior to migrating to Kuwait, he had worked in United Arab Emirates for several years. A sports enthusiast, he had trained many athletes in Udupi.

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.

Mandya, Jan 25: A woman committed suicide by jumping into Vishveshwaraiah Canal after throwing her two children into the canal near Thibbanahalli in the Taluk, police said on Saturday.

The deceased have been identified as Jyothi (33), Nisarga (7) and Pavan (4), of Hullenahalli.

According to police, the incident occurred on Friday.