WGSHA students win country-wide hotel management competition

Newsroom, Feb 2: American business magnate Bill Gates has congratulated her daughter Jennifer Gates after she announced her engagement to her Muslim boyfriend Nayel Nassar.

“I am completely thrilled! Congratulations, @jenniferkgates and @nayelnassar”, commented the Microsoft boss to her daughter’s surprise Instagram story.

The proposal took place on a ski getaway. "Nayel Nassar, you are one of a kind. Absolutely swept me off my feet this past weekend, surprising me in the most meaningful location over one of our many shared passions," she wrote on Instagram. The pair does have one very significant shared passion - horses.

Nassar, 29, is a showjumper. Gates, 23, has famously grown up an equestrian, and has even competed against Steve Jobs' daughter.

In October, Nassar helped Egypt qualify for Tokyo 2020 - Egypt's first Olympic equestrian qualification in 60 years. He has been jumping since he was 10 years old and has the accolades to show for it - he has taken first place in a number of notable competitions, including the Longines FEI Jumping World Cup.

Nassar was born in Chicago to Egyptian parents and spent many of his formative years in Kuwait, where his well-to-do parents run an architecture and design firm, according to People. He is fluent in English, Arabic, and French.

He moved back to the US in 2009 and graduated from Stanford with an economics degree in 2013 - later, he supported Gates at her own Stanford graduation in 2018.

The couple received well wishes from many notable personalities on each of their Instagram posts, including comments from Bill and Melinda Gates, Georgina Bloomberg, and Eve Jobs.

 

 

 

 

View this post on Instagram

 

 

 

 

 

 

 

 

 

Happy birthday @nayelnassar, can’t begin to put into words how extraordinary you are. The most compassionate, intelligent, hilarious, supportive, warm, humble human being. Wishing you all the joy in the world today and all the years to come

A post shared by Jennifer Gates (@jenniferkgates) on Jan 21, 2020 at 8:44am PST

Bengaluru, Mar 5: Karnataka is facing unprecedented economic difficulties following a Rs 8,887 crore reduction in the state's share in central taxes, cut in allocation under 15th finance commission and a Rs 3,000 crore hit in GST compensation, Chief Minister B S Yediyurappa indicated on Thursday.

Presenting the state budget for 2020-21 in the Assembly, he said Karnataka's share in central taxes has come down by Rs 8,887 crore in 2019-20 as per the revised budget estimates of the central government. Therefore the state's revenue resources have been reduced. Apart from this, Rs 3,000 crore GST compensation will also be reduced as collection from the GST compensation cess is not as expected, the Chief Minister said. "With all this it has become difficult to reach to reach the 2019-20 budget targets and to manage this situation within the bounds of the Karnataka Fiscal Responsibility Act, an inevitable situation has arisen this year to cut down the expenditure of many departments," he added.

As per the interim report submitted by the 15th finance commission, there is a reduction in the state's share of central taxes to 3.64 per cent compared to 4.71 per cent fixed by the 14th finance commission. In view of this, there will be a reduction of Rs 11,215 crore in the state's share of central taxes in 2020-21 budget, when compared to the previous one.

He, however, noted that the allocation recommendation of the 15th finance commission is limited to one year only and the complete report for the period 2021-22 to 2025-26 will be submitted in October 2020.

"Our government will soon submit a revised memorandum to the commission to set right the loss caused to the state with regard allocation for the year 2020-21 and give more allocation for the remaining period," the Chief Minister said. He also said, when compared to the previous year, there is an increase of approximately Rs 10,000 crore for 2020-21 with regards to government employees salary, pension and interest on government loans, but there is no proportionate increase in resources as compared to committed expenditure. "Due to this reduction of the state's share of central taxes as per the 15th finance commission report and other developments, serious difficulties are being faced in resource mobilisation efforts of the state," Yediyurappa said. "This magnitude of economic difficulties was never faced in the previous years by our state," he added.

However, the state's own tax revenue collection is excellent during this year, he said. As compared to the previous year, there is a growth of 14 per cent in State GST collection. "Based on this, in the new budget, efforts are being made to manage the reduction in the share of central taxes by stabilising the state's own resources more", the Chief Minister said.

Karnataka recorded a gross state domestic product growth rate of 7.8 per cent in 2018-19 and Yediyurappa said for the current financial year it is estimated to be 6.8 per cent.