Saudi Arabian govt to invest in Yusuff Ali’s LuLu Group

News Network
October 9, 2020

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Kochi, Oct 9: The Public Investment Fund (PIF) under the Saudi Arabian government is planning to invest in the Lulu Group International owned by NRI businessman M A Yusuff Ali. This could be a historical achievement as Abu Dhabi government's holding company ADQ invested in Lulu Group only a month ago.

The PIF chaired by Saudi Crown Prince Mohammed bin Salman manages a total fund of 36,000 crore Dollars (approximately Rs 26 lakh crore). This is one of the largest sovereign wealth funds in the world. Sovereign funds are the funds owned by the government. Reliance Retail of Mukesh Ambani also is trying to get PIF funding.

It is yet to clarify how much amount PIF would invest in Lulu Group or how many shares will be purchased. Lulu Group Director of Marketing and Communications V Nandakumar told Mathrubhumi that they cannot respond on the basis of mere assumptions.

Abu Dhabi government's company ADQ had invested Rs 8000 crore (110 crore Dollars) in Lulu Group one month ago. The fund will be used to set up many hypermarkets in Jordan, Morocco and Iraq. ADQ is chaired by Sheikh Tahnoun bin Zayed, the national security advisor and brother of Abu Dhabi Crown Prince Sheikh Muhammed bin Zayed.

Apart from PIF and ADQ, more companies from the Gulf region will invest in Lulu Group and the discussions in this regard is progressing. The arrival of funds proves that Lulu Group and Yusuff Ali have earned trust of the royal families in Gulf countries.

Lulu Group owns 194 hypermarkets in 9 countries and 15 logistics centres in 15 countries. Apart from this, the Group also owns many large scale shopping malls and hotels. The annual turnover is around Rs 55,800 crore. Among the 58,000 staff in the Group, 30,000 are Keralites.

Comments

SUBRAMANIAN
 - 
Saturday, 17 Oct 2020

emergency basis i came India on 17th August i have Abu Dhabi residence visa i want return Abu Dhabi almost completed more than 60 days, still now I getting Red message when will i receive green message and return

Bishnupada Das
 - 
Friday, 16 Oct 2020

Dear Sir,
I am applying for ica approval more than 5 months but massage are coming red , my is Abu Dhabi resident visa validity on April 2021 , please advise how to travel urgent basis.

Rasal
 - 
Thursday, 15 Oct 2020

After loss my job I need Argent ica approval

Mohammed Ishaq
 - 
Sunday, 11 Oct 2020

We know Dollars in Million but Dollars in Crore???

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News Network
December 2,2025

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Bengaluru: 'Nati koli saaru' (country chicken curry) considered one of Chief Minister Siddaramaiah’s favourites along with steaming hot idlis was on the breakfast menu at Deputy CM D K Shivakumar’s residence on Tuesday, according to official sources.

The spread also included 'nati koli' fry, vada and pongal, among other items, they said.

In an apparent show of unity, Siddaramaiah visited Shivakumar’s residence for breakfast, just days after the two leaders shared a meal amid a simmering power tussle in the state Congress.

Siddaramaiah drove to the Deputy CM’s residence in Sadashivanagar, where he was received by Shivakumar and his brother D K Suresh, who is a former Congress MP.

Suresh and Kunigal MLA H D Ranganath, a relative of Shivakumar, joined them for breakfast, which featured a mix of vegetarian and non-vegetarian dishes.

Speaking to reporters later, Siddaramaiah said Shivakumar had invited him during his visit to the CM’s residence for breakfast on Saturday.

Asked about the difference between the two meals, the chief minister said, "At his (Shivakumar’s) house it was non-veg, while at my house it was veg. He is a vegetarian, I am a non-vegetarian. I had not prepared non-veg. I told DK to get chicken from the village as you won’t get the original in Bengaluru."

Shivakumar said he had initially invited Siddaramaiah to his residence, but the CM had suggested visiting his place first and reciprocating later. "It was a vegetarian breakfast at the CM’s house on Saturday," he noted.

"Today, I invited him (the CM) to my house. He enjoyed the breakfast, which had his Mysuru taste," Shivakumar added. At this point, Siddaramaiah remarked that Shivakumar’s wife is also from Mysuru.

Saturday’s breakfast at Siddaramaiah’s official residence, held as part of efforts by the Congress high command to ease tensions in the leadership dispute between the two, reportedly included idlis and sambar, according to official sources.

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News Network
November 26,2025

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Bengaluru, Nov 26: Karnataka is taking its first concrete steps towards lifting a three-decade-old ban on student elections in colleges and universities. Deputy Chief Minister D.K. Shivakumar announced Wednesday that the state government will form a small committee to study the reintroduction of campus polls, a practice halted in 1989 following incidents of violence.

Speaking at a 'Constitution Day' event organised by the Karnataka Congress, Mr. Shivakumar underscored the move's aim: nurturing new political leadership from the grassroots.

"Recently, (Leader of the Opposition in Lok Sabha) Rahul Gandhi wrote a letter to me and Chief Minister (Siddaramaiah) asking us to think about restarting student elections," Shivakumar stated. "I'm announcing today that we'll form a small committee and seek a report on this."

Student elections were banned in Karnataka in 1989, largely due to concerns over violence and the infiltration of political party affiliates into campus life. The ban effectively extinguished vibrant student bodies and the pipeline of young leaders they often produced.

Mr. Shivakumar, who also serves as the Karnataka Congress president, said that former student leaders will be consulted to "study the pros and cons" of the re-introduction.

Acknowledging the history of the ban, he added, "There were many criminal activities taking place back then. We’ll see how we can conduct (student) elections by regulating such criminal activities."

The Deputy CM reminisced about his own journey, which began on campus. He recalled his political activism at Sri Jagadguru Renukacharya College leading to his first Assembly ticket in 1985 at the age of 23. "That's how student leadership was at the time. Such leadership has gone today. College elections have stopped," he lamented, adding that for many, college elections were "like a big movement" where leaders were forged.

The move, driven by the Congress high command's push to cultivate young talent, will face scrutiny from academics and university authorities who have, in the past, expressed concern that the return of polls could disrupt the peaceful academic environment and turn campuses into political battlegrounds.

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News Network
November 27,2025

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Authorities at Pakistan’s high-security Adiala Jail in Rawalpindi on Wednesday dismissed speculation about the condition of imprisoned former Pakistan Prime Minister Imran Khan, rejecting rumours that he had been moved out of the facility or was in danger. Officials said Khan was in “good health” and described the viral death claims as “baseless.”

“There is no truth to reports about his transfer from Adiala Jail,” the Rawalpindi prison administration said in a statement, according to Geo News. “He is fully healthy and receiving complete medical attention.”

Amid swirling rumours on social media, Imran Khan’s party, Pakistan Tehreek-e-Insaf (PTI), urged the federal government to issue an official clarification and demanded that authorities allow his family to meet him immediately, Dawn reported.

The frenzy began after Khan’s three sisters called for an impartial probe into what they described as a “brutal” police assault on them and other PTI supporters outside Adiala Jail last week. Soon after, several social media handles circulated unverified claims alleging that Khan had been “killed” inside the prison.

The rumours intensified when a handle named “Afghanistan Times” claimed that “credible sources” had confirmed Khan’s “murder” and that his body had been moved out of the jail — allegations that have not been verified by any credible agency.

Imran Khan, PTI’s patron-in-chief, has been lodged in the Rawalpindi prison since August 2023 in multiple cases. For over a month, an undeclared restriction has prevented family members and senior PTI leaders from meeting him. Khyber-Pakhtunkhwa Chief Minister Sohail Afridi has reportedly been denied access despite making seven attempts.

In a letter to Punjab Police Chief Usman Anwar, Khan’s sisters — Noreen Niazi, Aleema Khan, and Dr. Uzma Khan — said they were “peacefully protesting” outside the jail when police allegedly launched an unprovoked assault after streetlights were switched off.

“At 71, I was seized by my hair, thrown to the ground and dragged across the road,” Noreen Niazi said, alleging that other women present were also slapped and manhandled.

Adiala Jail officials reiterated that speculation over Imran Khan’s health was unfounded and insisted that his well-being was being ensured, Geo News reported.

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