New govt in Karnataka will be 'temporary'; Ananth Kumar

Mangaluru, Jan 26: Minister for Muzrai, Inland Water Transport, Port and Fisheries Kota Srinivas Poojary in his Republic Day address praised the Dakshina Kannada district and Mangaluru city units of Karnataka police.

Poojary, also district in-charge minister, was speaking after unfurling the National flag as a part of 71st Republic Day celebrations held at Nehru Maidan in the city on Sunday.

He said that the police department had been successful in tackling the challenges posed by anti-social elements to the law and order situation from time to time.

He also lauded the police department for effectively handling the recent bomb threat incident at Mangalore International Airport.

He said, the state government is committed to protect the welfare of the oppressed and backward classes, minority, women, farmers, differently abled and the elderly.

“People from all these sections are guaranteed government benefits in one way or the other,’’ the minister said and called upon the people to strive towards social harmony and to help the departments concerned in keeping anti-social elements away.

The state government will release its share of Rs 4,000 to the farmers under Pradhan Mantri Kisan Samman Yojana, to which Central government has credited Rs 6,000 per eligible farmer. As many as 1,33,247 farmers are benefited by the scheme in the district, the minister said.

Stating that the coastal region of Karnataka has been placed in the ninth position in the country in fisheries, Poojary said that the coastal line of Karnataka, comprising backwaters and inland water, houses immense resource for fishes.

“Thrust will be laid on boat tourism and development of ports in the coastal districts,’’ he said.

The minister, meanwhile, said that the state government had implemented various programmes for the development of fishermen community.

“Loans to the tune of Rs 60.54 crore availed by 23,000 women belonging to fishing community will be waived. Diesel subsidies amounting to Rs 28.09 crore has been transferred to the bank accounts of owners of 954 mechanized boats during the year 2019-20. As many as 2,500 houses have been sanctioned under Matsyashraya scheme,’’ Poojary said.

Dakshina Kannada district has incurred a loss of Rs 893 crore during the recent floods. Financial assistance has been extended to 1,914 families affected by the floods to buy essential commodities, he said.

Services recognised

The minister thanked the Central government for announcing Padma Vibhushan awards to late Vishwesha Theertha Swami and George Fernandez and Padma Shri award to Harekala Hajabba.

‘’The selfless services to the nation by these stalwarts have been recognised,’’ he said. Educationist Harekala Hajabba was felicitated on the occasion.

Zilla Panchayat President Meenakshi Shanthigodu, MLAs D Vedavyas Kamath, Dr Y Bharat Shetty and U T Khader, MLCs Ivan D’Souza and S L Bhoje Gowda were present. Various troupes conducted march past on the occasion. Schoolchildren took part in cultural programmes.

Bengaluru, Jun 15: Karnataka Chief Minister B S Yediyurappa on Monday laid the foundation stone for the construction of a Rs 220 crore airport project in his political bastion of Shivamogga, as he expressed confidence that it will give a boost to tourism, industries and economic activities in the region.

"The long cherished dream of people of Shivamogga about having an airport is finally becoming a reality.

The project that was planned when I was Deputy Chief Minister and Chief Minister in the past was shelved due to contractor issues and lack of interest by the governments that came later," Yediyurappa said.

Speaking at the foundation laying event for the airport, which he attended virtually via video conference, he said, now the government is once again taking up the project through infrastructure development and PWD departments.

The project to construct the well-equipped airport at Sogane in Shivamogga taluk at the cost of Rs 220 crore in about 662.38 acre land area has been initiated, he said, adding that the project will be taken up in two phases.

He expressed hope that it will be completed in a year's time.

The first phase consists of runway, taxiway, apron, approach road, peripheral road and compound wall construction, while the second phase consists of terminal building, ATC tower, fire station building, among others, a release said.

Noting that under the Udan scheme the project has been envisaged to provide affordable air travel to people, the Chief Minister expressed confidence about tourism, industries and economic activities in the region getting a boost, with the small airport coming up at Shivamogga.

He also directed officials to complete the airport work on time without compromising on the quality.

Highlighting various developmental works that is being implemented in Shivamogga, the district which is regarded as his political turf, Yediyurappa said, with the cooperation of the central government various railway projects have also been taken up in the district including Shivamogga- Shikaripura rail route.

Shikaripura is the constituency represented by the Chief Minister, while his son B Y Raghavendra represents Shimoga constituency in Lok Sabha.

Yediyurappa, who also inaugurated the divisional office of National Highway authority in the district, said a bridge project across river Sharavati at Singndur in Sagara taluk will be taken up.

Conceding that developmental work has taken a backseat due to the COVID-19 situation, the Chief Minister said the challenge is to overcome it and achieve development.

Abu Dhabi, Feb 17: NMC Health Plc, a hospital operator targeted by short-seller Muddy Waters, said founder Bavaguthu Raghuram Shetty resigned amid investor concern he faced a margin call and misrepresented his stake.

The board asked for Co-Chairman Shetty’s resignation and it takes effect immediately, according to a person with knowledge of the situation. NMC has lost four board members since Friday, including Vice Chairman Khaleefa Butti, whose holdings are also being probed. The stock, the worst performer on the FTSE-100 Index this year, fell as much as 9.2 percent Monday morning and then rebounded.

“The resignation of senior board members should be viewed positively,” said Abdulla Nahlawi, an analyst at Rasmala Investment Bank in Dubai. “The credibility of the current board has been jeopardized with the unfolding of the recent events.”

NMC shares lost almost half their value the first week of February on speculation the company’s main investors faced a margin call, in which banks seize shares pledged as collateral. NMC said Friday that First Abu Dhabi Bank and Al Salam Bank Bahrain obtained 20 million shares in the company from BRS International Holding, an investment vehicle of NMC’s top shareholders. The banks sold more than 8 million of those shares as “enforcement of security,” NMC said.

NMC operates the largest medical network in the United Arab Emirates and in 2012 became the first Abu Dhabi company to list in London. The shares started teetering in mid-December when Muddy Waters alleged that NMC manipulated its balance sheet and inflated the prices of companies it acquired.

Shetty, 77, was born in India and founded NMC in the 1970s after moving to Abu Dhabi. His spokesman said a legal review of the situation is ongoing and declined further comment.

Chief Investment Officer Hani Buttikhi and board member Abdulrahman Basaddiq also stepped down because they were appointees of Shetty and Butti, NMC said, adding that they had no knowledge of the share transfers.

Questions remain over the role of Shetty’s family at the company. His wife and son-in-law both hold roles in senior management.

Almost 10 per cent of NMC’s freely traded shares are shorted, according to Markit Securities data. In mid-December about a third of them were.

Last week GKSD Investment, an investment company backed by hospital investors, said it’s studying a possible offer for NMC. Under U.K. takeover rules, it has until March 9 to make a bid.

NMC has said Muddy Waters’s claims are false and the company hired former FBI Director Louis Freeh to conduct an independent review. The review is due to be completed before the company issues its financial results in March, the person said.

NMC said Mark Tompkins will continue as the company’s sole chairman.