Sid tears into PM Modi, slams BJP for terrorizing minorities, making communities fight each other

Bengaluru, Jul 5: In the midst of the Covid-19 pandemic and the fear of layoffs lurking everywhere, the state government is holding a first-of-its-kind virtual job fair on July 10, to help people find jobs commensurate with their skill sets.

Co-ordinated by the Karnataka Skill Development Corporation (KSDC), the job fair will see participation of more than 40 companies for about 6,000 job openings.

The government will connect companies with job seekers who have registered on the recently-launched Skill Connect portal or on the Kaushalya Karnataka’s portal for migrant workers from the state who have returned home.

A candidate can either directly apply to a company, or await the portal to match their skills with available jobs. There is also a self-evaluation section on the website which will suggest whether a candidate needs to further skill oneself or whether they are eligible for jobs with their current set of skills. 

Firms such as Life Insurance Corporation, Barbeque Nation and Arvind Mills are among the participants.

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.

Mangaluru, Feb 20: A wild tusker was spotted in Kukke Subrahmanya town here, in the early hours of Thursday.

Range Forest Officer (RFO), Kukke Subrahmanya Tyagaraj said that it was seen walking from Kashi Kattte in the town to Nuchila around 0530 hours without creating any havoc.

The same elephant was spotted some days ago at Harihara, a small village town near Kukke Subrahmanya.

It has been roaming around in the forests nearby for some time now. So far, it had not caused disturbance to people nor had it damaged any property, Mr. Tyagaraj said.

Kukke Subrahmanya is on the foot of the Western Ghats.