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

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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 24,2025

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Israeli forces have pushed over the Syrian frontier, erecting a checkpoint and stopping vehicles in the southwestern city of Quneitra, in yet another breach of the Arab country’s sovereignty.

The violation took place on Sunday, when the troops made their way across the border, setting up the outpost near the Ain al-Bayda junction in northern Quneitra, Syrian outlets reported.

According to the al-Ikhbariya paper, an Israeli detachment positioned itself at the junction, halting cars and conducting searches.

The Syrian Arab News Agency (SANA) reported that three Israeli military vehicles then moved further into the northern countryside, deploying between the town of Jubata al-Khashab and the villages of Ofaniya and Ain al-Bayda. The agency added that a separate Israeli unit mounted a new incursion in the central region, approaching the villages of Umm Batina and al-Ajraf.

Residents said such activities have surged in recent months, pointing to Israeli advances onto farmland, leveling of extensive forested areas, arrests, and spread of mobile checkpoints.

The Israeli regime began markedly increasing its military aggression against Syria last year.

The escalation coincided with increasingly ferocious onslaughts throughout the country by the so-called Hay'at Tahrir al-Sham (HTS) Takfiri terrorist group, which the government of President Bashar al-Assad had confined to northwestern Syria. The HTS, however, managed to overthrow the government as the Israeli attacks would pummel the country’s civilian and defensive infrastructure.

Various reports have shown that, during the escalation, the regime conducted more than 1,000 airstrikes on the Syrian territory and over 400 ground raids into the south.

Following the collapse of the Assad government, Tel Aviv also widened its grip over the occupied Golan Heights by taking control of a demilitarized buffer zone, in defiance of a 1974 Disengagement Agreement. Earlier this month, senior Israeli officials, including Prime Minister Benjamin Netanyahu, visited the buffer zone, prompting expressions of alarm on the part of the United Nations.

The United States, the regime’s biggest ally, has, meanwhile, been fraternizing the HTS head Abu Mohammed al-Jolani amid the widely reported prospect of rapprochement with Tel Aviv.

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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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