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 26,2025

Mangaluru, Nov 26: Assembly Speaker and local MLA U.T. Khader has initiated a high-level push to resolve one of Mangaluru’s longest-standing traffic headaches: the narrow, high-density stretch of National Highway-66 between Nanthoor and Talapady.

He announced on Tuesday that a formal proposal has been submitted to the Union Ministry of Road Transport and Highways (MoRTH) seeking approval to prepare a Detailed Project Report (DPR) for the widening of this crucial corridor.

The plan specifically aims to expand the existing 45-meter road width to a full 60 meters, coupled with the construction of dedicated service roads. Khader highlighted that land for a 60-meter highway was originally acquired during the initial four-laning project, but only 45 meters were developed, leading to a perpetual bottleneck.

"With vehicle density rising sharply, the expansion has become unavoidable," Khader stated, stressing that the upgrade is essential for ensuring smoother traffic flow and improving safety at the city's main entry and exit points.

The stretch between Nanthoor and Talapady is a vital link on the busy Kochi-Panvel coastal highway and connects to major city junctions. The move to utilize the previously acquired land for the full 60-meter width is seen as a necessary measure to catch up with the region's rapid vehicular growth and prevent further traffic gridlocks.

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News Network
November 24,2025

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Israel has launched a new act of aggression on a residential neighborhood in Lebanon's capital, Beirut, killing and injuring about two dozen civilians.

The Israeli regime's military said in a statement that its forces carried out a so-called precise strike in a residential apartment in Dahiyeh in the southern suburbs of Beirut on Sunday.

The aggression targeted residential areas, killing at least five people and injuring more than 28 people, Lebanon's Health Ministry said. 

Hezbollah announced the martyrdom of senior Hezbollah commander Haytham Ali Tabatabai and four resistance fighters.

Lebanese President Michel Aoun condemned the airstrike, calling it a clear demonstration of Tel Aviv’s disregard for repeated international calls to halt violations on Lebanese soil.

“Israel refuses to implement international resolutions and all efforts aimed at ending the escalation and restoring stability,” Aoun said, urging the international community to take action to prevent further aggression.

The Palestinian Islamic Jihad movement also condemned the attack, holding the international community accountable. 

“The international community bears responsibility and continues to provide cover for these attacks as long as it does not restrain the occupiers,” said Ali Abu Shahin, a member of the group’s political bureau.

Israeli prime minister Benjamin Netanyahu’s office announced that the Israeli army carried out a strike “in the heart of Beirut."

Netanyahu reportedly approved the operation following recommendations from top Israeli security officials.

Two senior US officials commented on the Israeli strike.

The first official said that Israel did not notify Americans in advance about the attack. "We were informed immediately after the strike was carried out."

The second senior official said that the "US knew for several days that Israel was planning to escalate its strikes in Lebanon, but did not know in advance the timing, location, or target of the strike."

Speaking from the site of the Israeli strike, Lebanese MP Ali Ammar condemned the attack as part of a broader campaign of aggression that has targeted "all of Lebanon since the Washington-sponsored ceasefire."

He stated that "any attack on Lebanon is a violation of red lines; this aggression is part and parcel of the entity that targets Lebanon's dignity, sovereignty, and security of citizens."

Ammar went on to say the resistance is responding with "utmost wisdom, patience, and will confront the enemy at the appropriate time."

"Unfortunately, the enemy is emboldened to commit its aggression by voices within Lebanon that have turned themselves into tools that support its aggression," he added.

The Israeli attack on the southern suburbs of the Lebanese capital is the latest blatant violation of the ceasefire Israel signed with Hezbollah in November 2024, which was intended to end hostilities that had escalated into full-scale war.

An Israeli strike on the Ain al-Hilweh camp near Sidon in southern Lebanon late Tuesday killed at least 14 people. It wounded several others, including young students, according to the Lebanese health ministry.

The military claimed the attack targeted “a Hamas training compound” used to plan and carry out attacks against the regime -- a claim that has frequently been made without evidence.

Hamas rejected the allegations as “a blatant lie aimed at justifying the massacre,” stating it had “no military installations in the Palestinian camps in Lebanon” and that the targeted site was merely “an open sports field.”

According to Lebanese authorities, Israeli attacks have killed approximately 4,000 people and displaced more than 1.2 million residents across the country since October 2023.

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News Network
December 5,2025

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New Delhi, Dec 5: IndiGo CEO Pieter Elbers issued a public apology this evening after more than a thousand flights were cancelled today, making it the "most severely impacted day" in terms of cancellations. The biggest airline of the country cancelled "more than half" of its daily number of flights on Friday, said Elbers. He also said that even though the crisis will persist on Saturday, the airline anticipates fewer than 1,000 flight cancellations.

"Full normalisation is expected between December 10 and 15, though IndiGo cautions that recovery will take time due to the scale of operations," the IndiGo CEO said. 

IndiGo operates around 2,300 domestic and international flights daily.

Pieter Elbers, while apologising for the major inconvenience due to delays and cancellations, said the situation is a result of various causes.

The crisis at IndiGo stems from new regulations that boost pilots' weekly rest requirements by 12 hours to 48 and allow only two night-time landings per week, down from six. IndiGo has attributed the mass cancellations to "misjudgment and planning gaps".

Elbers also listed three lines of action that the airline will adopt to address the issue.

"Firstly, customer communication and addressing your needs, for this, messages have been sent on social media. And just now, a more detailed communication with information, refunds, cancellations and other customer support measures was sent," he said.

The airline has also stepped up its call centre capacity.

"Secondly, due to yesterday's situation, we had customers stranded mostly at the nation's largest airports. Our focus was for all of them to be able to travel today itself, which will be achieved. For this, we also ask customers whose flights are cancelled not to come to the airports as notifications are sent," the CEO said.

"Thirdly, cancellations were made for today to align our crew and planes to be where they need to start tomorrow morning afresh. Earlier measures of the last few days, regrettable, have proven not to be enough, but we have decided today to reboot all our systems and schedules, resulting in the highest numbers of cancellations so far, but imperative for progressive improvements starting from tomorrow," he added.

As airports witnessed chaotic scenes, the Directorate General of Civil Aviation (DGCA) stepped in to grant IndiGo a temporary exemption from stricter night duty rules for pilots. It also allowed substitution of leaves with a weekly rest period. 

Civil Aviation Minister Ram Mohan Naidu has said a high-level inquiry will be ordered and accountability will be fixed.

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