Banks asked to search and seize B R Shetty’s accounts in UAE

News Network
April 26, 2020

Dubai, Apr 26: The Central Bank of the UAE (CBUAE) has instructed financial institutions in the country to search and freeze all bank accounts of Indian billionaire BR Shetty and his family along with those of companies where he has a stake.

The apex bank has also blacklisted several firms associated with Shetty along with their entire senior management.

In an advisory issued last week, CBUAE cited decisions of the Federal Attorney General and asked financial institutions to search and freeze any bank accounts, deposits or investments in the name of Shetty or his family members.

Financial institutions have been directed to stop transfers from these accounts and deny access to deposit boxes.

Currently in India and facing a string of charges, Shetty is the founder of NMC Health.

The heathcare provider was placed into administration by a UK court recently following an application by the Abu Dhabi Commercial Bank (ADCB) which alone has an exposure of $981 million (Dh3.6 billion).

Overall, UAE banks have a combined exposure of more than Dh8bn to NMC which owes money to Oman-based banks and financial institutions as well.

Probing credit facilities
The Central Bank has sought information about credit facilites extended to the Shettys along with details of their safe deposit boxes and the financial transfers they have made till date.

A similar advisory has been issued for NMC Healthcare and NMC Holding, based on the decision of the Head of Plenary Fund Prosecution.

The Central Bank has also blacklisted several companies associated with Shetty. Key staff members of these firms have been similarly blacklisted.

Comments

Angry Indian
 - 
Monday, 27 Apr 2020

when you make money with good country you should not make doka to that country, first of all we indian have bad name in GCC now this will make more dought on indian hindus..

 

after BJP come to power in india,our country is acting like maron, this will only end with final WAR.

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News Network
February 5,2020

Feb 5: US President Donald Trump delivered his third State of the Union address on Tuesday, the eve of his expected impeachment acquittal in the United States Senate.

The mood in the House of Representatives reflected the divisions running across the country. Republicans cheered as Trump was introduced, with some chanting "four more years" while Democrats stood silently.

On the foreign policy front, Trump said the US is "working to end America's wars in the Middle East".

He boasted about his decision to order the killing of top Iranian Commander Qassem Soliemani. That decision escalated tensions between the US and Iran, with many fearing an outright war.

Iran retaliated by attacking two Iraqi military bases housing US troops. After Trump initially said no troops were injured, the Defense Department announced dozens of US soldiers had been diagnosed with traumatic brain injuries.

Trump also reiterated his vow to withdraw US troops from Afghanistan. When he plans to do that, however, remains unclear.

US special envoy Zalmay Khalilzad told Afghan President Ashraf Ghani earlier this week that there has not been any significant progress in his talks with the Taliban. Khalilzad said he was hopeful of reaching an understanding with the group on reduction of hostilities, but did not offer any timeframe.

Trump also touted his newly-unveiled Middle East plan, which has been vehemently rejected by Palestinians.

And he received loud applause after reminding the country that ISIL (ISIS) leader Abu Bakr al-Baghdadi was killed last year in a US military operation in Syria.

"Today, the ISIS territorial caliphate has been 100 percent destroyed, and the founder and leader of ISIS - the bloodthirsty killer Al Baghdadi - is dead!" Trump said.

Economy

Trump spent much of his speech highlighting the economy's strength, including low unemployment, stressing how it has helped blue-collar workers and the middle class, though the period of growth began under his predecessor, Barack Obama.

"In just three short years, we have shattered the mentality of American decline and we have rejected the downsizing of America's destiny. We are moving forward at a pace that was unimaginable just a short time ago, and we are never going back!" Trump declared.

And what Trump calls an unprecedented boom is, by many measures, not all that different from the solid economy he inherited from Obama. Economic growth was 2.3 percent in 2019, matching the average pace since the Great Recession ended a decade ago in the first year of Obama's eight-year presidency.

Trump stressed the new trade agreements he has negotiated, including his phase-one deal with China and the United States-Mexico-Canada agreement he signed last month.

Throughout his presidency, Trump has frequently touted his stewardship of the US economy. As recently as two weeks ago, he claimed it was in "a rather dismal state" until he and his administration turned it into a "roaring geyser of opportunity".

But the numbers do not support the "geyser" narrative. There are signs the record US economic expansion - now in its 11th year - is getting long in the tooth.

Job creation is slowing. And the US economy's modest 2.3 percent growth was well short of the 3 percent growth Trump had predicted following a $1.5 trillion tax cut package he and his fellow Republicans pushed through Congress in 2017.

Trump's trade war with China weighed on US manufacturing last year as businesses held back on investment. And while factory activity bounced back in January amid the signing of a phase-one trade deal between Washington and Beijing, US tariffs still remain in place on some $360bn of Chinese goods.

The coronavirus outbreak and the ongoing troubles for Boeing surrounding the 737 MAX could also present headwinds to growth, analysts say.

Awkward moment at awkward time

One of the big questions of the night was whether Trump would directly mention impeachment. He chose to stay away. The House impeached the president at the end of last year for abuse of power related to his dealings with Ukraine and obstruction of Congress for refusing to participate in the impeachment inquiry.

The Senate started its trial more than two weeks ago, and a final vote is scheduled for 4pm local time (21GMT) on Wednesday.

Trump shared an awkward moment with House Speaker Nancy Pelosi, who kicked off the House's impeachment inquiry in September following a whistle-blower complaint that centred on Trump's efforts to get Ukraine to launch investigations into the president's political rival.

At the start of Trump's speech on Tuesday night, it appeared Pelosi went to shake the president's hand, a gesture amid the impeachment proceedings.

The president was presenting folios to Pelosi and Vice President Mike Pence as he arrived for the evening speech when it appears she reached for the shake. At the same time, Trump turned away from her to face the audience of lawmakers gathered for the annual address.

Pelosi gave a look.

Later on Twitter, Pelosi tweeted that "Democrats will never stop extending the hand of friendship to get the job done #ForThePeople. We will work to find common ground where we can, but will stand our ground where we cannot".

After the address was over, Pelosi ripped up her copy of the speech - a move the White House criticised.

Trump is only the third president to be impeached. He has denied any wrongdoing.

While some Republicans have acknowledged Trump did something wrong, they've argued that it didn't amount to an impeachable offence. Trump is headed towards an all but certain acquittal on Wednesday in the Republican-led Senate.

Trump appeals to base

As expected, Trump also dedicated a section to "American values", discussing efforts to protect "religious liberties" and limit access to abortion as he continues to court the evangelical and conservative Christian voters who form a crucial part of his base.

He attacked the Democrats over their healthcare plans, labelling them "socialist".

He brought up his signature campaign issue - immigration, at times making untrue or misleading statements.

"Before I came into office, if you showed up illegally on our southern border and were arrested, you were simply released and allowed into our country, never to be seen again," Trump falsely. "My administration has ended catch-and-release. If you come illegally, you will now be promptly removed."

But under previous administrations, Mexicans were quickly returned back over the US-Mexico border, while others were held in detention until they were deported. Some migrants from other countries were released into the interior of the US to wait out their immigration cases.

And despite Trump's claims that all irregular migrants are now "promptly" removed, there is a one million immigration court case backlog, which means many migrants wait up to three years before a court hearing before a judge who will determine whether someone is deported. After a judge rules a migrant deported, travel papers must be obtained, which often leads to further delays.

As for ending the so-called "catch and release" policy, Trump actually expanded that policy last year during a surge in migrants, releasing thousands of migrants who flooded shelters along the border. The surge has since passed, so fewer people are being held and fewer would need to be released. But an effort by immigration officials to detain children indefinitely was blocked by a judge, so children are still released into the country.

In a gesture that left nearly everyone - including its recipient - looking dumbfounded, Trump announced he was giving right-wing radio host Rush Limbaugh the nation's highest civilian honour.

Limbaugh, who announced this week that he had advanced lung cancer, appeared stunned, his jaw visibly dropping as Trump made the announcement. Others sat in silence as first lady Melania Trump draped the medal around his neck on the spot.

"Thank you for your decades of tireless devotion to our country," Trump told Limbaugh, who often promotes conspiracy theories on his radio show.

Boycott, walkouts

At least 10 Democratic lawmakers, including some who have been attacked by the president, boycotted the address in a sign of protests.

"After much deliberation, I have decided that I will not use my presence at a state ceremony to normalise Trump's lawless conduct & subversion of the Constitution," Representative Alexandria Ocasio-Cortez said in a series of tweets announcing her decision.

Ocasio-Cortez, as well as Representative Ayanna Pressley, who also boycotted, were the subjects of racist attacks by the president last year that resulted in the House voting to condemned his comments, telling the pair and two other congresswoman of colour - Ilhan Omar and Rashida Tlaib - to "go back" to their countries. All four are US citizens.

Omar and Rashida Tlaib, the first two Muslim women in Congress, attended the address, wearing traditional Palestinian and Somali clothing.

"This is what America looks like," Omar tweeted.

Tlaib, along with some other Democratic representatives said they walked out of Trump's speech, calling it "shameless".

Dozens of other congresswomen wore white, representing the colour of women suffragettes.

Other Democrats wore red, white and blue-striped lapel pins to highlight climate change, saying Trump has rolled back environmental safeguards and given free rein to polluters.

Michigan Democratic Governor Gretchen Whitmer delivered her party's official response and drew a contrast between actions taken by Democrats and the president's rhetoric.

"It doesn't matter what the president says about the stock market," Whitmer said. "What matters is that millions of people struggle to get by or don't have enough money at the end of the month after paying for transportation, student loans, or prescription drugs."

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News Network
April 2,2020

Dubai, Apr 2: A senior Saudi official urged more than 1 million Muslims intending to perform the hajj to delay making plans this year in comments suggesting the pilgrimage could be cancelled due to the new coronavirus pandemic.

In February, the kingdom took the extraordinary decision to close off the holy cities of Mecca and Medina to foreigners over the virus, a step which wasn’t taken even during the 1918 flu epidemic that killed tens of millions worldwide.

Restrictions have tightened in the kingdom as it grapples with over 1,500 confirmed cases of the new virus. The kingdom has reported 10 deaths so far. The Middle East has more than 71,000 confirmed cases of the virus, most of those in Iran, and over 3,300 deaths.

“The kingdom of Saudi Arabia is prepared to secure the safety of all Muslims and nationals,” Saudi Hajj and Umrah Minister Muhammad Saleh bin Taher Banten told state television. “That’s why we have requested from all Muslims around the world to hold onto signing any agreements (with tour operators) until we have a clear vision.”

Saudi Arabia has barred people from entering or exiting three major cities, including Mecca and Medina, and imposed a nighttime curfew across the country. Like other countries around the world and in the Middle East, Saudi Arabia has suspended all inbound and outbound commercial flights.

Each year, up to 2 million Muslims perform the hajj, a physically demanding and often costly pilgrimage that draws the faithful from around the world. The hajj, required of all able-bodied Muslims to perform once in their lifetime, is seen as a chance to wipe clean past sins and bring about greater humility and unity among Muslims.

Standing in Mecca in front of the cube-shaped Kaaba that Muslims pray toward five times daily, Banten also said the kingdom was already providing care for 1,200 pilgrims stuck in the holy city due to global travel restrictions. A number of them are being quarantined in hotels in Mecca, he said.

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News Network
January 13,2020

Jan 13: For the first time in years, the government of India’s Prime Minister Narendra Modi is playing defense. Protests have sprung up across the country against an amendment to India’s laws — which came into effect on Friday — that makes it easier for members of some religions to become citizens of India. The government claims this is simply an attempt to protect religious minorities in the Muslim-majority countries that border India; but protesters see it as the first step toward a formal repudiation of India’s constitutionally guaranteed secularism — and one that must be resisted.

Modi was re-elected prime minister last year with an enhanced majority; his hold over the country’s politics is absolute. The formal opposition is weak, discredited and disorganized. Yet, somehow, the anti-Citizenship Act protests have taken hold. No political party is behind them; they are generally arranged by student unions, neighborhood associations and the like.

Yet this aspect of their character is precisely what will worry Modi and his right-hand man, Home Minister Amit Shah. They know how to mock and delegitimize opposition parties with ruthless efficiency. Yet creating a narrative that paints large, flag-waving crowds as traitors is not quite that easy.

For that is how these protests look: large groups of young people, many carrying witty signs and the national flag. They meet and read the preamble to India’s Constitution, into which the promise of secularism was written in the 1970’s.

They carry photographs of the Constitution’s drafter, the Columbia University-trained economist and lawyer B. R. Ambedkar. These are not the mobs the government wanted. They hoped for angry Muslims rampaging through the streets of India’s cities, whom they could point to and say: “See? We must protect you from them.” But, in spite of sometimes brutal repression, the protests have largely been nonviolent.

One, in Shaheen Bagh in a Muslim-dominated sector of New Delhi, began simply as a set of local women in a square, armed with hot tea and blankets against the chill Delhi winter. It has now become the focal point of a very different sort of resistance than what the government expected. Nothing could cure the delusions of India’s Hindu middle class, trained to see India’s Muslims as dangerous threats, as effectively as a group of otherwise clearly apolitical women sipping sweet tea and sharing their fears and food with anyone who will listen.

Modi was re-elected less than a year ago; what could have changed in India since then? Not much, I suspect, in most places that voted for him and his party — particularly the vast rural hinterland of northern India. But urban India was also possibly never quite as content as electoral results suggested. India’s growth dipped below 5% in recent quarters; demand has crashed, and uncertainty about the future is widespread. Worse, the government’s response to the protests was clearly ill-judged. University campuses were attacked, in one case by the police and later by masked men almost certainly connected to the ruling party.

Protesters were harassed and detained with little cause. The courts seemed uninterested. And, slowly, anger began to grow on social media — not just on Twitter, but also on Instagram, previously the preserve of pretty bowls of salad. Instagram is the one social medium over which Modi’s party does not have a stranglehold; and it is where these protests, with their photogenic signs and flags, have found a natural home. As a result, people across urban India who would never previously have gone to a demonstration or a political rally have been slowly politicized.

India is, in fact, becoming more like a normal democracy. “Normal,” that is, for the 2020’s. Liberal democracies across the world are politically divided, often between more liberal urban centers and coasts, and angrier, “left-behind” hinterlands. Modi’s political secret was that he was that rare populist who could unite both the hopeful cities and the resentful countryside. Yet this once magic formula seems to have become ineffective. Five of India’s six largest cities are not ruled by Modi’s Bharatiya Janata Party in any case — the financial hub of Mumbai changed hands recently. The BJP has set its sights on winning state elections in Delhi in a few weeks. Which way the capital’s voters will go is uncertain. But that itself is revealing — last year, Modi swept all seven parliamentary seats in Delhi.

In the end, the Citizenship Amendment Act is now law, the BJP might manage to win Delhi, and the protests might die down as the days get unmanageably hot and state repression increases. But urban India has put Modi on notice. His days of being India’s unifier are over: From now on, like all the other populists, he will have to keep one eye on the streets of his country’s cities.

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