Saudi Defense minister Mohammed bin Salman supports women driving

New Delhi, Feb 2: Budget 2020 announcement that insurance behemoth LIC will be listed was well received by market participants who said this will be "IPO of the decade" akin to the Saudi Aramco listing.

Finance Minister Nirmala Sitharaman on Saturday said Life Insurance Corporation (LIC) will be listed as part of the government disinvestment initiative.

A "highlight of the budget is the LIC IPO, which is akin to the Saudi Aramco listing for Indian capital markets, and will be IPO of the decade," Vijay Bhushan, President, Association of National Exchanges Members of India (ANMI) said.

According to Krishna Kumar Karwa, Managing Director, Emkay Global Financial Services, the LIC IPO will be a big positive for corporate governance and transparency and will open up one more avenue for fund raising for the government over the years.

Metropolitan Stock Exchange, Interim CEO, Balu Nair said: "The LIC listing will be eagerly awaited by investors and will provide huge fillip to capital raising through the primary market." The government proposes to sell a part of its holding in LIC through an initial public offer, Sitharaman said while presenting Budget 2020-21.

"The government will sell part of LIC through its listing in the stock market which is also a positive trigger for the market," Amit Gupta, CO-Founder and CEO, TradingBells.

Jaideep Hansraj, MD and CEO of Kotak Securities said listing of LIC would help bridge a gap in the Fiscal Deficit for FY21.

Currently, the government owns the entire 100 per cent stake in LIC.

Saudi Aramco shares were listed in December last year.

Mangaluru, Jun 27: The second flight chartered by the Karnataka Sports and Cultural Club (KSCC) to repatriate stranded Kannadigas in UAE landed at Mangalore International Airport at 6 p.m. today.

The Air Arabia flight with 171 passengers took off from Sharjah international airport around 1 am (UAE Time). The flight had 18 pregnant women, 9 children, 3 infants, 8 senior citizens, 20 people with medical emergencies besides those have lost jobs, stranded visit visa holders and those who had reported deaths in their families.

KSCC had set up help desk to finalize list of passengers and guide them throughout the process. All the legal procedures were carried out smoothly.

KSCC president Mohammed Ismail accorded a warm welcome to all passengers. Rapid tests for Covid-19 were conducted before departure. Mandatory quarantine for all the passengers was arranged in three hotels in Mangaluru for a period of seven days.

KSCC office bearers Ismail, Javed, Safwan and volunteers were present at the airport during the time of departure. KSCC has expressed its gratitude to Consulate General, DC of DK district, Umar U H and Ataullah Jokkate for their support.

Bengaluru, Jun 22: Concerned over the increase in COVID-19 cases in the city, Karnataka Chief Minister B S Yediyurappa on Monday directed officials to implement lockdown measures strictly in the clusters which have reported more infections.

Yediyurappa held a meeting with Ministers and senior officials regarding containing COVID-19 in Bengaluru and said it can be achieved only if preventive measures are implemented strictly and asked the officials to work in this direction.

"Lockdown shall be implemented strictly in the clusters which reported more cases, especially, K.R. Market and surrounding areas such as Siddapura, VV Puram, Kalasipalya etc. It was decided to seal the adjoining streets, where the cases are reported, a release from the Chief Minister's office said. Stringent action would be taken against those who violate quarantine norms and FIR would be filed if necessary, it said.

Till Sunday evening, the state capital has reported 1,272 cases of COVID-19, including 64 deaths and 411 discharges. On Sunday, as many as 196 fresh cases were recorded. Officers were directed to ensure hygiene and provide other basic amenities to the people who were quarantined in the social welfare department's hostels and other government institutions.

"COVID-19 should be contained without affecting the economic activities in Bengaluru, which resumed recently," the Chief Minister said.

Noting that booth-level officers and volunteers were working to trace contacts and monitor quarantined persons, he said the COVID war room shall have real-time information on the availability of beds in various designated hospitals and facilitate treatment to the infected without loss of time.

A bulletin from the Bruhat Bengaluru Mahanagara Palike (BBMP), the city civic body, said there were 298 active containment zones in the city. BBMP Commissioner B H Anil Kumar along with the Chamarajpet Congress MLA B Z Zameer Ahmed Khan visited a few slum areas in the city to take stock of the COVID-19 situation, officials said.