New Israeli spyware targets journalists, politicians in 10 countries including UAE: Watchdog

Dubai-based billionaire businessman Micky Jagtiani, who founded retail giant Landmark Group, has passed away. The chairman and owner of the group was 70 years old.

With a net worth of $5.2 billion, he was ranked 511 on the Forbes' 37th annual world billionaires list earlier this year. 

Jagtiani was originally from India and started the business in 1973 with one store in Bahrain. He then expanded the business across the west Asia, Africa and India. According to Forbes, Jagtiani drove a taxi in London before moving to Bahrain and starting a baby products shop.

Currently, his wife Renuka runs the Landmark Group as chairman and chief executive officer (CEO).

His three children are directors in the group, overseeing different aspects of the business.

The Landmark Group also entered India in 1999 and has a range of retail brands like Lifestyle and Max for clothes and Home Center for furniture and home furnishings.

The Dubai-headquartered group also operates brands Babyshop, Centrepoint, Home Centre, Lifestyle, Splash, Shoemart and Emax.

"Today Dubai lost a man who was a key player in the retail and real estate industry. Micky Jagtiani the founder of land mark group has passed away," tweeted Emirati businessman Majid Saif Al Ghurair.

Bengaluru, May 14: Congress candidate from Jayanagar, Sowmya Reddy, has pleaded for the support of people saying she will continue to fight against injustice after she was defeated by 16 votes by BJP candidate CK Ramamurthy in recounting.

"Grateful for all my people of #Jayanagara who voted for me and @INCKarnataka cadre & leaders who had my back throughout. Thanks to the thousands of you who have showed solidarity. I plead your continued support to fight this injustice of foul play in the Jayanagar elections," tweeted Sowmya Reddy.

BJP's CK Ramamurthy had demanded the vote recounting after he lost to Sowmy. Later in recounting, Sowmya dramatically lost to Ramamurthy from the Jayanagar Assembly seat in Karnataka.

There was high drama after Ramamurthy was declared winner by mere 16 votes. Congress has scored big by winning 136 seats followed by BJP 65 and JDS 19 in the 224-member Karnataka assembly on Saturday.

The polls to Karnataka's 224 Assembly seats were held elections on May 10 and and the results were announced on Saturday. 

The Bharatiya Janta Party-led government of India plans to push back against the country rankings produced by global agencies on topics like governance and press freedom, a key advisor to Indian Prime Minister Narendra Modi was quoted as saying by news agencies.

Sanjeev Sanyal, a member of Modi's Economic Advisory Council, said India has begun to raise this issue at global forums. He said the indices were being compiled by a "tiny group of think tanks in the North Atlantic," sponsored by three or four funding agencies that are "driving a real-world agenda."

"It is not just narrative building in some diffused way. This has clear direct impact on trade, investment and other activities," Sanyal said.

India ranked lower than Afghanistan and Pakistan in the new World Press Freedom Index released by Reporters Without Borders. It was below Pakistan and Bhutan in an academic freedom index by V-Dem Institute.

Over the past year, Indian government has in various meetings pointed out the flaws in methods used to compile global indices used by institutions like the World Bank, World Economic Forum (WEF) and the United Nations Development Programme (UNDP), Sanyal said.

The "World Bank is involved in this discussion because it takes these opinions from these think tanks and effectively sanctifies it by putting it into something called the world governance index," Sanyal said.

The World Bank, WEF, Reporters Without Borders and V-DEM Institute did not immediately respond to requests for comment. UNDP said it would respond shortly.

Sanyal said the ratings also get hard-wired into decision-making through environmental, social and governance (ESG) norms and sovereign ratings. Multilateral development banks offer subsidised loans to ESG-compliant projects.

"The idea of having some ESG norms is not the problem in itself. The problem relates to how these norms are defined and who certifies or measures compliance to these norms," he said. "As things are currently evolving, developing countries have been completely left out of the conversation."

The matter is being taken up by the Cabinet Secretariat, which has held more than a dozen meetings on the issue this year, a government official said. The Cabinet Secretariat and finance ministry did not immediately respond to requests for comment.

India has said it plans to be an advocate for developing countries under its G20 presidency. Sanyal did not say if India has flagged the issue of country rankings with the G20.

"There are other developing countries who are also concerned about this because effectively this is a form of neo-colonialism," he said, adding that concerned ministries have been asked to establish benchmarks and engage continuously with rating agencies.

Some of the upcoming indices being watched out by India are the financial development index by International Monetary Fund, gender inequality and human development indices by UNDP, logistics performance and worldwide governance indicators by the World Bank, sources said.