NRI, returning home after 32 years, dies at Abu Dhabi airport

Mangaluru, Jan 19: Karnataka’s coastal city of Mangaluru has been ranked India’s safest city with the lowest crime index (24.14) in the country, according to a survey conducted by Numbeo.

Numbeo is a crowd-sourced global database of reported consumer prices, perceived crime rates, and quality of healthcare, among other statistics.

Mangaluru was named the city with the highest safety index of 75.86 among all major Indian cities.

According to the survey, Abu Dhabi is the world's safest city which has the lowest crime index of 11.33. It has the highest safety index of 88.67 in the list of 374 global cities.

Abu Dhabi sits on number one spot - as an increase in a city's ranking means a drop in its crime rate.

Sharjah ranked fifth safest and Dubai was ranked as the seventh safest city in the world with its safety index at 82.95.

Joining Abu Dhabi in the top ten are Taipei, Quebec, Zurich, Dubai, Munich, Eskisehir, and Bern. Islamabad (74) was ranked the safest in Pakistan.

Meanwhile, Caracas in Venezuela was rated the as the most unsafe city with the highest crime index 84.90.

Belagavi, Jun 6: Suspecting that cow meat was being transported to Goa, unidentified persons set goods vehicle on fire near Karle village in Belagavi taluk last night.

The Incident came to the fore on Saturday morning.

Usually, vehicles carrying vegetables, milk and other essentials being transported to Goa and other towns plying via Karle village near Belagavi.

Sources said that for the past few days vehicles carrying meat were stopped and were handed over to police by section of activists suspecting it to be cow meat.

Persons who set the vehicle on fire were yet to be identified. Jurisdictional Belagavi Rural police have rushed to the spot. More details were awaited.

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.