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
November 21,2025

Bantwal: A domestic dispute appears to have led to a violent confrontation in BC Road area, where the owner of a textile shop was allegedly attacked with a knife by his wife on Wednesday evening.

Krishna Kumar Somayaji, the owner of Somayaji Textiles, sustained serious injuries in the incident and was immediately taken to a hospital for treatment. He is currently receiving care in the intensive care unit and is reported to have survived the assault, according to police.

The Bantwal Town police have registered a case against Somayaji's wife, Jyothi KT, who has since been taken into custody.

Police stated that the complainant, Namita, an employee at the shop, reported the sequence of events. She stated that around 7 p.m. on Wednesday, the suspect entered the shop, wearing a burqa and disguised as a customer, before attacking Somayaji with a knife. The employee then transported the injured owner to a local hospital via an autorickshaw.

Superintendent of Police Arun K confirmed that an ongoing domestic dispute between Somayaji and his wife reportedly preceded the attack. Police noted that Jyothi KT had previously visited the shop and issued threats.

Based on the complaint, Bantwal Town police have registered a case under relevant sections of the Bharatiya Nyaya Sanhita (BNS) and the Indian Arms Act-1959. An investigation into the incident is currently underway.

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News Network
December 4,2025

Udupi: A 40-year-old NRI from Udupi has reportedly lost more than Rs 12.25 lakh in an online investment scam operated through Telegram.

According to a complaint filed at the CEN police station, Leo Jerome Mendonsa, who has been working in Dubai for the past 15 years in computer accessories sales, maintains NRI accounts in Karkala and Nitte.

On November 12, 2025, Mendonsa was added to a Telegram group called Instaflow Earnings by unknown individuals. Users identified as Priya and Dipannita persuaded him to invest in “Revenue Tasks.” Initially, Mendonsa transferred Rs 1,100 multiple times and received the promised returns, encouraging him to continue.

On November 14, another user, Nishmitha Shetty, directed him to register on a website, digitvisionuoce.cc, and invest Rs 4 lakh in various shares. Over the next few days, he made multiple transfers totaling Rs 12,25,000, including Rs 50,000 via Google Pay, believing the scheme was legitimate.

After receiving the money, the alleged handlers stopped responding, and neither the invested amount nor the promised profits were returned.

The CEN police have registered a case under Sections 66(C) and 66(D) of the IT Act and Section 318(4) of the Bharatiya Nyaya Sanhita (BNS), and investigations are ongoing.

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News Network
November 28,2025

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Several Syrians were killed and more than two dozen others injured in Israeli strikes on the outskirts of Damascus, amid intensified incursions by the occupying regime since the fall of former president Bashar al-Assad and the rise of Hayat Tahrir al-Sham (HTS) rule.

Syrian state TV reported that the casualties occurred during an overnight Israeli assault involving helicopters and drones on the town of Beit Jinn in the Damascus countryside. The attack followed an Israeli military unit’s entry into the town, where they were surrounded by local residents, leading to gunfire and direct confrontations.

According to the report, “The occupation army’s helicopters and artillery shelled Beit Jinn, located at the foothills of Mount Hermon, resulting in 13 martyrs and 25 injured civilians.” The broadcaster did not specify the full extent of damage.

Al-Ikhbariyah Syria confirmed that the shelling coincided with Israeli soldiers entering Beit Jinn, while artillery pounded surrounding areas. The broadcaster stated that the escalation began after local residents clashed with an Israeli patrol that had infiltrated the southern town and “kidnapped” three young men.

Following a two-hour exchange of heavy fire, Israeli forces withdrew and repositioned on the hill of Butt al-Warda at the town’s outskirts.

Israeli media acknowledged that six soldiers were wounded in the clashes—three of them seriously—describing the confrontation as a “sudden ambush” that forced the deployment of reserve units and air support to secure an exit route. No further details were provided.

The aggression has fueled renewed displacement from Beit Jinn, with residents fleeing to nearby villages amid increasingly frequent Israeli attacks.

The raid came just a day after Israeli troops carried out another ground incursion into Umm al-Luqas village in Quneitra province. According to SANA, an Israeli unit in four vehicles entered the village, raided several homes, and later withdrew.

Syria condemned the repeated incursions as violations of the 1974 Disengagement Agreement and UN resolutions, urging the international community to enforce compliance and pressure Israel to halt its operations and withdraw fully.

Israel has expanded its attacks across Syrian territory following the collapse of the Assad government last year. Prime Minister Benjamin Netanyahu has reportedly instructed his forces to push deeper into Syrian territory and seize strategic positions.

Meanwhile, critics say the HTS-led interim government’s inaction and growing normalization gestures toward Israel have emboldened Tel Aviv to intensify its military operations. HTS, formerly linked to al-Qaeda, seized control of Damascus last December, formally ending Assad’s rule.

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