The News Journal

Rajeev Jhawar Usha Martin has been the Managing Director of Usha Martin Limited since May 19, 2008.   He is also a director of Neutral Publishing House Limited.   Rajeev Jhawar has been the Vice Chairman of Usha Martin Education and Solutions Limited since September 2010.   The company has been bringing rich experience in the management of industrial enterprises for more than a decade.   His leadership qualities, sharp business acumen, deep understanding of business administration and strategic decisions led the group to a higher growth trajectory. Rajeev Jhawar shares his observation about the industry post covid. After the coronavirus, the industry witnessed a pandemic and subsequent lockdown disrupted overall economic activity. The Indian steel industry struggled to keep pace with the sharp fall in steel demand.   Adverse market conditions forced steelmakers to cut their operations by up to 50% by the end of 2019-20 and early 2020-21. Rajeev said while the demand for wire rope i

Property prices in Saudi Arabia's capital Riyadh rose at their fastest pace in at least five years, according to a new report. Apartment prices rose by 20 per cent on average in the past 12 months while villa prices were up 18.6 per cent, property consultancy Knight Frank said. However, deal numbers have declined 27 per cent in the past year as households find themselves needing to save for longer before being able to transition to home ownership. Transaction volumes across the kingdom fell to 60,000 during the first quarter, although total deal values receded by only 2 per cent to 40.4 billion Saudi riyals ($10.8 billion), reflecting the significant price growth “The spectacular house price growth in the kingdom mirrors what we are seeing around the world,” said Faisal Durrani, partner and head of Middle East research at Knight Frank. READ MORE : https://www.thenationalnews.com/business/property/2022/05/30/riyadh-property-prices-rise-at-fastest-pace-in-five-years/

A man from Mumbai has been duped of ₹ 1.57 crore in a cryptocurrency investment scam. The 36-year-old, a resident of a resident of Napean Sea in Mumbai's upscale Malabar Hill area, has now accused a website of trapping him into investing in cryptocurrency mining schemes. The accused said that a fake website trapped him in the investment scheme. The case has been registered at the Malabar Hill police station. According to a report in the Hindustan Times, the complainant befriended the accused online in October 2021. The accused began contacting him about cryptocurrency mining after a few days. The accused told the complainant that by investing in cryptocurrency mining hardware through the website ‘USD Miner' he could make a lot of money. The accused also told him about a number of strategies he might utilise to make money. The complainant was interested in the idea and chose to invest. The complainant continued to invest more and more money on the accused person's instructio

The FBI is investigating the authenticity of more than two dozen paintings displayed in a Jean-Michel Basquiat exhibit in Orlando, Fla., the New York Times reports. A federal subpoena dated July 27, 2021, states that 25 paintings in the Orlando Museum of Art’s “Heroes & Monsters: Jean-Michel Basquiat” exhibit are being examined by the F.B.I.’s Art Crime Team, the Times reported. Concerns about the authenticity of the art include a claim that the FedEx typeface featured on a piece of cardboard in the collection was not created until 1994, six years after Basquiat’s death, the Times reported in February. The owners of the paintings and the museum’s director have defended the legitimacy of the works, which were reportedly made by the Neo-expressionist artist in 1982 on pieces of scavenged cardboard and recovered in 2012 from a storage unit in Los Angeles. “We have a rigorous standard in our business,” Orlando Museum of Art Director and CEO Aaron De Groft told WESH 2 in February ,when

Several health agencies in the United States and Canada are investigating a hepatitis A outbreak potentially connected to organic strawberries purchased in March and April.  The U.S. Food and Drug Administration warned consumers against eating strawberry brands FreshKampo and HEB, sold at major grocery stores including Aldi, Kroger, Safeway, Sprouts Farmers Market, Trader Joe’s, Walmart and other major chains. “Epidemiologic and traceback data show that fresh organic strawberries sold as FreshKampo and HEB brands that were purchased between March 5, 2022, and April 25, 2022, are a likely cause of illness in this outbreak,“ the agency said. The FDA, Centers for Disease Control and Prevention, the Public Health Agency of Canada and the Canadian Food Inspection Agency, along with state and local partners, are investigating the infections, according to an announcement.  Hepatitis A cases reported in California, Minnesota and Canada were traced back to people who purchased the organic straw

Arguably the biggest shock of this turbulent year for investors is that the gold price is not going through the roof. After surging at $2,052 an ounce on March 8, it has slumped to about $1,850 at the time of writing ― a drop of 9.8 per cent. Gold is in correction territory, which is odd, given that for thousands of years it has been seen as a safe haven in times of trouble, and these are undoubtedly troubled times. Most investment experts say every portfolio needs a sprinkling of gold dust to hedge against riskier assets such as shares. When stock markets lose their lustre, gold usually glitters. But not this year. Gold is often seen as an inflation hedge, too, but rocketing consumer price growth hasn’t lifted it. Does gold no longer work? Gold is often seen as an inflation hedge, too, and investors certainly need one of those right now, with shares falling everywhere and New York’s Nasdaq tech index down more than a quarter. Read More : https://www.thenationalnews.com/business/money/

Iran’s seizure of two Greek-flagged oil tankers in Gulf waters is “a serious violation of international law”, France’s foreign ministry said on Sunday, calling for the immediate release of the ships and their crews. Iran’s Revolutionary Guards seized the Greek tankers on Friday, days after Athens confirmed it would deliver to Washington Iranian oil it had seized from a Russian tanker. “We call on Iran to immediately release the crews and vessels,” a French foreign ministry spokesperson said in a statement. Read More : https://www.khaleejtimes.com/world/france-denounces-irans-seizure-of-two-greek-tankers

SoftBank Group’s top executives saw steep cuts in their paychecks as the Japanese conglomerate marked a historic loss for its Vision Fund unit. The company’s founder and chief executive Masayoshi Son kept his pay unchanged at 100 million yen ($785,000), however some of his top executives whose compensation was made public through a company filing on Monday saw big drops following a record $20.5 billion loss. Chief financial officer Yoshimitsu Goto made 293 million yen, down almost 40 per cent from the previous year. Ken Miyauchi, chief of SoftBank’s domestic telecom operation, made 539 million yen, down 15 per cent. Both long-serving lieutenants have helped lead SoftBank’s multiple reinventions, from broadband provider to telecom operator to the world’s biggest tech investor. Simon Segars, who stepped down as the head of the company’s chip unit Arm in February, earned 1.15 billion yen during the almost-three months that he was a board director, SoftBank said, without providing further

The Nepal Army on Monday physically located the site where a Nepalese private airlines plane crashed on Sunday. “Search and rescue troops have physically located the plane crash site. Details will be followed,” the Nepal Army Spokesperson said in a tweet. Tara Air’s 9 NAET twin-engine aircraft with 22 people on board, including four Indians, was found crashed in Kowang village of the Mustang district hours after it went missing in the mountainous district on Sunday morning. Earlier today, Nepal Army said, “Rescue effort to search plane of Tara Air was resumed.” On Sunday, all the helicopters deployed for the search of the crashed aircraft were called off after the snowfall in Mustang district. “Due to the snowfall at the possible air crash site, the search and rescue operation has been called off for today. All the helicopters deployed for search and rescue operations have been called back to bases,” Premnath Thakur, General Manager of Tribhuvan International Airport said. Read More :

A relative of mine pointed out how impatient I was in my younger days. “The problem with your generation,” she would say, “is that you don’t put in the time and dedication for anything to work. You have big dreams, but you give up too easy”. As a teenager, I dismissed her comments and thought they were irrelevant. It wasn’t until I gave up on a small business idea that I started in college a few years later that I started paying attention to her advice. “If you just dedicate time and persistence to anything in life, it will become a success,” she had said. Over the years, I learnt to become more patient. I knew that the success stories we hear about are the result of long years of hard work. Eventually, I got better at focusing on future goals. Just as my relative had advised, I realised that success — be it on business or personal front — is about showing up every single day, and consistently dedicating time and effort to developing your business, abilities, skills and brand. Read Mor

Tesla CEO Elon Musk says his deal to buy Twitter can't move forward unless the company shows public proof that less than 5 per cent of the accounts on the social media platform are fake or spam. Musk made the comment in a reply to another user on Twitter early Tuesday. He spent much of the previous day in a back-and-forth with Twitter CEO Parag Agrawal, who posted a series of tweets explaining his company's effort to fight bots and how it has consistently estimated that less than 5 per cent of Twitter accounts are fake. In his tweet Tuesday, Musk said that 20 per cent fake/spam accounts, while 4 times what Twitter claims, could be much higher. My offer was based on Twitter's SEC filings being accurate. Read More : https://www.business-standard.com/article/international/doubt-about-spam-accounts-could-scuttle-twitter-deal-says-elon-musk-122051700705_1.html

Shyam Maheshwari is the founder and partner of SSG Capital Management. Maheshwari serves on the Ares SSG investment committee and is a director of Ares SSG Singapore. He focuses primarily on origination and evaluation of investment opportunities in India and other regions throughout Asia. In his former position at SSG Capital, he was extensively involved in deal sourcing, analysis and investing in Asia and business development in India. Mr. Maheshwari is also Associate Member at The Institute of Chartered Accountants of India and on the boards of various companies. He received an undergraduate degree from the University of Calcutta and an MBA from Indian Institute of Management Bangalore. Shyam Maheshwari SSG   possesses excellent business acumen, expertise in investor relationship management and team-building skills with dexterity in mentoring and managing large deal sourcing and business operation teams. Shyam Maheshwari talks about the impact caused by the Russia-Ukraine conflict

Assets under management in the Middle East, which increased 52 per cent over the past three years, are set to grow further as oil and gas prices continue to rise. A rally in oil prices, up more than 60 per cent over the past year and hovering above $100 a barrel, along with soaring natural gas prices are helping to drive private capital's improved fortunes in the Middle East, alternative assets industry data and analytics specialist Preqin said in a report on Thursday. Natural gas prices in the US soared to a 14-year high this month and they surged in Europe as a result of the Russia-Ukraine war, now in its third month. Preqin said: "The ongoing conflict in Ukraine alongside the continued post-pandemic economic resurgence is pushing commodity prices higher, creating short-term opportunities. "But in the long-term, Europe’s governments are looking to reduce reliance on imported hydrocarbons. Efforts to increase energy independence and step away from imported hydrocarbons h

The global economy is "teetering on the brink of recession" as the war in Ukraine, Covid-19 lockdowns in China and a hawkish US Federal Reserve weigh on activity worldwide, the Institute of International Finance said in a report. In its latest forecast, the IIF estimates global gross domestic product to grow 2.2 per cent this year, with activities slowing to 0.5 per cent in the fourth quarter. The Euro area as well as emerging markets, excluding China, are anticipated to go into a recession by the end of the year. "Since the statistical carryover from 2021 is 2.3 per cent, this is a de facto flatlining of global GDP," the report said. The IIF's estimates are below the latest prediction from the International Monetary Fund, which has also lowered its growth forecast this year, due to the Ukraine war and inflation stoked by soaring commodity prices. The IMF projects global growth at 3.6 per cent this year and next, down 0.8 and 0.2 percentage points from its Janua

Newly elected reformist MPs in Lebanon are planning strategies following election breakthroughs that grant them significant sway in the parliamentary balance of power. Thirteen reformist MPs in Lebanon who entered the legislative race on the values of the 2019 anti-establishment uprising, as well as 21 independent MPs, have entered the newly elected Lebanese Parliament. Analysts have added up MPs to figure out the size of the parliamentary blocs, which are divided between sovereign blocs and pro-Hezbollah groupings. Figures show that elected MPs may be positioned within 13 blocs divided into two opposite larger camps, forming the 128-MP Parliament. Read More : https://www.arabnews.com/node/2084916/middle-east

Britain’s Home Secretary Priti Patel has stood by her plan to send asylum seekers to Rwanda despite being urged to change course in talks with the United Nations refugee agency. Ms Patel defended the scheme at a meeting in Geneva with UNHCR chief Filippo Grandi, Rwanda’s Foreign Minister Vincent Biruta and other diplomats, insisting she was trying to save lives by deterring dangerous English Channel crossings. But Mr Grandi, who said his agency was proposing “concrete alternatives” to Ms Patel, did not back down on his criticism of a plan which he and some activists consider a potential breach of international refugee law. “Shifting asylum responsibilities is not the solution,” he said after the talks ended with no sign of the two sides seeing eye-to-eye. Ms Patel, who overruled concerns from her department’s top official to announce the Rwanda plan last month, promised to work with UN agencies but maintained that the deportations would not break human rights laws. The partnership with

In its first information report (FIR) filed on Saturday, CBI said Choksi approached IFCI Ltd seeking financial assistance for its long-term working capital requirement and induced the financial institution to sanction a corporate loan of ₹25 crore in March 2016. The Central Bureau of Investigation (CBI) has filed a fresh case against fugitive diamantaire Mehul Choksi, his firm Gitanjali Gems Ltd (GGL) and others for allegedly cheating IFCI Ltd, a government of India entity, of ₹22.6 crore between 2014 and 2018. In its first information report (FIR) filed on Saturday, CBI said Choksi approached IFCI Ltd seeking financial assistance for its long-term working capital requirement and induced the financial institution to sanction a corporate loan of ₹25 crore in March 2016. The IFCI Ltd, according to the FIR, relied on the representation, assurances and undertakings of GGL as well as Choksi and the value of the pledged jewels on the basis of valuation conducted by valuers - Surajrml Lallu B

Saudi Arabia’s oil revenue is expected to jump about 66 per cent this year to about $249 billion amid surging crude prices that will enable the Arab world’s biggest economy to boost spending, according to Jadwa Investment. Brent, the benchmark for two thirds of the world's oil, rose 69 per cent year on year in the first quarter of this year to an average of $103 per barrel, and that rise was reflected in a “substantial jump in royalties and income tax received by the Ministry of Finance", Asad Khan, chief economist and head of research at Jadwa, said in a research note on Wednesday. “As oil prices remain elevated, and Saudi crude oil production rises in line with the Opec+ agreement, we expect government oil revenue to continue showing sizeable yearly rises.” Both Brent and West Texas Intermediate, the benchmark for US crude, have surged more than 60 per cent since the beginning of the year. Brent climbed to a notch under $140 per barrel in March, its highest since 2008, befor

Abu Dhabi National Oil Company has made new oil discoveries at Bu Hasa, the emirate’s biggest onshore field, as well as at the onshore Block 3 and Al Dhafra Petroleum Concession. Bu Hasa, which has a crude oil production capacity of 650,000 bpd, is part of the Adnoc Onshore Concession and is operated by Adnoc Onshore. “The 500 million barrels of oil discovered from an exploration well in the Bu Hasa field has unlocked a new formation within the field, offering substantial additional premium-grade Murban oil resources,” Adnoc said in a statement on Thursday. In Abu Dhabi’s Onshore Block 3, operated by US oil company Occidental, about 100 million barrels of oil were discovered, marking the second oil find in this concession. Occidental was awarded the exploration rights for Onshore Block 3 in early 2019. About 50 million barrels of light and sweet Murban-quality crude was also discovered in Al Dhafra Petroleum Concession, operated by Al Dhafra Petroleum, a joint venture between Adnoc, th

Eight towns, from the capital of the Falkland Islands to Dunfermline in Scotland, have been given city status to mark the platinum jubilee of Queen Elizabeth II. Colchester, Doncaster and Milton Keynes in England, Bangor in Northern Ireland and Wrexham in Wales have also won the honour," the Cabinet Office said. Stanley in the Falklands is the first UK overseas territory to be declared a city, and Douglas on the crown dependency of the Isle of Man has also received raised status. They are some of the places that “make Britain great”, said the Chancellor of the Duchy of Lancaster, Steve Barclay. “What was clear to me during the process of assessing each application was the pride that people felt for their communities, local cultural heritage and the royal family," Mr Barclay said. “As we celebrate Her Majesty the queen’s colossal contribution to society, I am thrilled that we are able to recognise some of the many places that make Britain great. “It is also incredibly reflecti

Billionaire businessman Elon Musk said Tesla is on his mind “24/7" in a bid to soothe investor concerns that he is being distracted by his $44 billion Twitter acquisition deal, which has weighed on the stock price of the world's largest electric vehicle maker that he runs. “To be clear, I’m spending 5 per cent (but actually) of my time on the Twitter acquisition. It ain’t rocket science!” the world’s richest person tweeted to his 94.1 million followers on Thursday. “Yesterday was Giga Texas, today is Starbase. Tesla is on my mind 24/7.” To be clear, I’m spending <5% (but actually) of my time on the Twitter acquisition. It ain’t rocket science! Yesterday was Giga Texas, today is Starbase. Tesla is on my mind 24/7. So may seem like below, but not true. pic.twitter.com/CXfWiLD2f8 — Elon Musk (@elonmusk) May 19, 2022 Tesla opened its new car factory in Texas this year, and Mr Musk’s rocket company SpaceX has a launch site known as Starbase in Boca Chica, Texas. Mr Musk has lost

The irregularities in securities transactions of the banks and financial companies known as securities scam, which came to light in the second quarter of 1992 is unprecedented in many respects. Both the volume and the involvement of individuals and the institutions were various and stupendous. It embraces among others foreign banks, financial and other public/private sector corporations, the principal stock exchanges, select brokers, and persons occupying high offices.     The securities scandal of 1992, with Harshad Mehta as its main player, is back in collective consciousness nearly three decades after it was perpetrated, thanks to Sony LIV's popular web series Scam 1992. While the series has been praised for its largely accurate portrayal of the events that transpired -- down to a fleeting mention of the fiscal deficit in the Budget 1986 speech, as is shown when a character is watching it on TV -- there are only so many details that it can capture given the scope of the medium.

Usha Martin is a leading manufacturing company known for making a wide range of wire rope products, which have applications across the world. The ropes manufactured by Usha Martin serve in some of the most critical applications across diversified industrial segments, which include oil & offshore, cranes, mining, elevators, aerials, fishing, conveyor belts and general engineering. Rajeev Jhawar Usha Martin is the Managing Director at Usha Martin Limited. He is the son of Brij Kishore Jhawar. Rajeev Jhawar is also the Director of Neutral Publishing House Ltd. Rajeev Jhawar has been the guiding light of Usha Martin since its early days. Basant Kumar Jhawar, his brother Brij Kishore Jhawar and his son Prasant Jhawar along with the company's MD and his Nephew Rajeev Jhawar, took the company to great heights. While the family jointly held 51% of the stake, the rest of the retailers held only 49% of the stake. Rajeev Jhawar Usha Martin is the Managing Director at Usha Martin Limit

A federal district court recently struck down the Fairfax County School Board’s (FCSB) revamped admissions scheme at the highly selective magnet school, Thomas Jefferson High School, in Alexandria, Va., as racially discriminatory against Asian American students. Although a 2-1 Fourth Circuit panel stayed the Coalition for TJ v. FCSB judgment and the Supreme Court declined to grant an emergency application vacating the stay, leaving the revamped admissions scheme in place for at least another year, its long-term survival is far from certain. In the Fourth Circuit, Judge Allison Jones Rushing dissented vigorously from the stay. Supreme Court Justices Clarence Thomas, Samuel Alito and Neil Gorsuch also voted to grant the emergency motion. Given the interest from at least three justices, this likely will not be the Coalition for TJ’s last trip to the Supreme Court. Media and lawyers who are following the TJ case have thus questioned what its implications are for the Supreme Court cases cha

A total lunar eclipse graced the night sky on Sunday and Monday, providing longer than usual thrills for stargazers across North and South America. The Moon was seen bathed in the reflected red and orange colours of Earth’s sunsets and sunrises for about 90 minutes. It was the first blood Moon in a year and with it falling on May's full moon, earned itself the "Super Flower Blood Moon" moniker among astronomers. Observers in the eastern half of North America and all of Central and South America had prime seats for the show. Partial stages of the eclipse were visible in Africa, Europe and the Middle East.

McDonald’s said Monday that it has started the process of selling its Russian business, which includes 850 restaurants that employ 62,000 people, making it the latest major Western corporation to exit Russia since it invaded Ukraine in February. The fast food giant pointed to the humanitarian crisis caused by the war, saying holding on to its business in Russia “is no longer tenable, nor is it consistent with McDonald’s values.” The Chicago-based company announced in early March that it was temporarily closing its stores in Russia but would continue to pay employees. On Monday, it said it would seek to have a Russian buyer hire those workers and pay them until the sale closes. It did not identify a prospective buyer. CEO Chris Kempczinski said the “dedication and loyalty to McDonald’s” of employees and hundreds of Russian suppliers made it a difficult decision to leave. “However, we have a commitment to our global community and must remain steadfast in our values,” Kempczinski said in

New Delhi witnessed a blistering heatwave over the weekend, with at least two weather stations recording temperatures of more than 49 ° C. This is the first time in nearly six decades that the mercury touched that record mark in the Indian capital. Roads remained deserted and residents struggled to get any respite from the sweltering heat as air-conditioners and water-coolers failed to fight the heat. Frequent power cuts were reported from several parts of the city and the adjacent satellite cities of Noida and Gurgaon. “The heat is unbearable,” Manju Kumari, a domestic helper in Noida, told The National. " We do not have a water-cooler, but the ceiling fan also doesn’t work because of a power cut every now and then. We are sleeping on the terrace every night." In the capital's Mungeshpur in the north-west part and Najafgarh areas, the mercury rose to 49.2 ° C and 49.1 ° C respectively on Sunday, breaking the previous record of 49 ° C in May, 1966. The city's main Saf

Mounted troops from the Middle East were at the forefront of a star-studded equestrian show celebrating Queen Elizabeth II's platinum jubilee. The British monarch was honoured with a standing ovation at the Royal Windsor Horse Show on Sunday. The queen, who is marking 70 years on the British throne, applauded as The Royal Cavalry Oman performed an expert display of horsemanship. Those at the open-air arena near Windsor Castle were treated to a traditional display, including a group of horses who laid down midway through the performance in an impressive move alongside their trainers. The Bahrain Defence Force and the Royal Canadian Mounted Police escorted the queen from the arena back to Windsor Castle after the show. King Hamad of Bahrain had been personally invited to the event by the queen but was unable to attend after the death of the UAE's President Sheikh Khalifa on Friday. Tom Cruise and Dame Helen Mirren led the cast of entertainers who appeared in the first major event

GUWAHATI: After the ropeway accident in Jharkhand in which three persons died, the Guwahati Metropolitan Development Authority (GMDA ) has emphasised on regular maintenance of the ropeway service over the Brahmaputra in Guwahati so that there is no possibility of any such incident here. GMDA chief executive officer Kausar Jamil Hilaly told TOI, “The question of safety in Guwahati’s ropeway service after the Jharkhand incident is relevant. The ropeway over the Brahmaputra is very safe. Emphasis is being given on regular maintenance. The team concerned does maintenance work twice a day. Moreover, maintenance is also done by expert teams from outside the state twice a month. We also keep the ropeway service closed for 10 days in March every year for yearly maintenance. Usha Breco Limited is currently operating the ropeway service here in Guwahati after the Damodar Ropeways and Infra Limited completed its tendered period. Usha Breco Limited took over in March. Hilaly said the operating

Buffalo residents held vigils on Sunday after the deadly shooting at a supermarket by a gunman in a “racist” rampage resulted in 10 dead. The suspected gunman, identified as Payton Gendron, was arraigned late Saturday on a single count of first-degree murder and held without bail, the Erie County district attorney's office said. He pleaded not guilty. “The evidence that we have uncovered so far makes no mistake that this is an absolute racist hate crime,” Buffalo police commissioner, Joseph Gramaglia, said. Mr Gramaglia told reporters the 18-year-old suspect did “reconnaissance” on the predominantly black area surrounding Tops Friendly Market and drove there from his home town of Conklin, more than 200 miles away. United Nations chief Antonio Guterres sharply condemned the shooting deaths of 10 people at a grocery store in New York State, his spokesman said on Sunday. “The Secretary General was appalled by the killing of 10 people in a vile act of racist violent extremism in Buffal

Mali on Sunday announced that it will quit the multinational military force in West Africa's sub-Sahara region, after it was blocked from assuming the presidency of the group. The country's military government blamed a lack of progress in the fight against the Islamists and the failure to hold recent meetings in Mali. “The government of Mali is deciding to withdraw from all the organs and bodies of the G5 Sahel Force," including the joint force fighting the extremists, Bamako announced. “The opposition of some G5 Sahel member states to Mali's presidency is linked to manoeuvres by a state outside the region aiming desperately to isolate Mali,” it added, without naming the country. The G5 Sahel force, which includes troops from Niger, Chad, Burkina Faso and Mauritania, was set up in 2017 to counter Islamist extremists who have swept across the region in recent years, killing thousands of people and forcing millions to flee their homes. Read More : https://www.thenationa

 Two of the Saudi-listed major insurers have reported losses in the first quarter of 2022, driven by higher claims, revealed their earning announcements on Monday. The Co. for Cooperative Insurance, also known as Tawuinya, saw its first-quarter profit drop by 49 percent to SR41 million ($11 million) from SR80.81 million the same period in 2021, while Al-Etihad Cooperative Insurance Co. profit plunged 95 percent to SR689,910 in the first quarter compared to SR14.55 million in the first quarter of 2021, according to their bourse filings. Although both companies attributed the drop in their bottom lines to an increase in claims, Tawuinya added that a decrease in earnings from policyholders and shareholders also a major factor.

Since it was first produced in 1976, the Ford Fiesta has regularly topped bestseller charts because of its affordability, availability and reliability. Yet, in an extraordinary twist, an automotive expert has told The National the previously ubiquitous model now comes with a 12-month wait in the UK. Unsurprisingly, it is now nowhere near the UK top sellers list for 2022 to date. It's a far cry from the slogan of mass production pioneer Henry Ford, who promised buyers any car they wanted (as long as it was black). "The longest lead times are now on the cheapest cars," said Steve Young, managing director of the International Car Distribution Programme. Ford is not the only manufacturer whose forecourts are no longer crowded. Giant lots with rows of cars awaiting a willing buyer are a thing of the past. Motorists expecting to walk into any showroom and leave with a new car are likely to be sorely disappointed. This remarkable situation doesn't have a single root cause.

CUET Mock is a national-level entrance test offering admissions to UG, PG and integrated programs in 54 central universities across India. CUET is abbreviated for Common University Entrance Test that is conducted for admission in various courses like UG, PG and PhD. It was observed that there is huge competition in top universities with high cut-off marks, so the exam was introduced to reduce the high cut-off standards for entering these prestigious colleges. The exam is a centralized test for top universities like Delhi University, Banaras Hindu University, Central University of Punjab, and Jawaharlal Nehru University. Instead of appearing for multiple entrance tests, you can focus on a single aptitude test to get admission to these top universities. Cuetmock.com is a name synonymous with CUET exam preparation and guidance. Their CUET coaching program is handled by a team of domain experts and qualified teachers who have spent many years training students for various entrance exams

RIYADH: Saudi Arabia’s finance ministry has appointed the financial advisory Rothschild to supervise the restructuring of the construction firm Binladin Group. The appointment means the restructuring process will need more time to be completed, Bloomberg reported citing people familiar with the matter. The restructuring process of Binladin Group started two years ago. This happens as the Saudi construction company seeks to reduce its debt and to recover following years of losses. 

Sri Lanka's Prime Minister Ranil Wickremesinghe suffered his first setback after taking office on Thursday when a leading opposition MP rejected his invitation to take the post of finance minister in a unity government. Mr Wickremesinghe, 73, was appointed after his predecessor Mahinda Rajapksa resigned amid violent nationwide protests over an economic crisis that has caused months of shortages, rising prices and blackouts. The veteran politician, who has been prime minister five times before, said he was confident of getting enough support to steer the country through the crisis and approached several potential allies to join his administration. But on Friday opposition MP Harsha de Silva, an economist, publicly rejected an overture to take charge of the nation's finances and said he would instead push for the government's resignation. Read More : https://www.thenationalnews.com/world/asia/2022/05/13/new-sri-lanka-pm-ranil-wickremesinghe-struggles-to-form-government/

“Meltdown”, “turmoil”, “financial disaster”. It has been quite a week for the world of cryptocurrencies as markets plummeted and the value of investors' holdings in digital assets such as Bitcoin and Terra rapidly diminished. Bitcoin was set for a record losing streak while Terra, a stablecoin, collapsed to close to zero on Thursday. But what happened? Why did the crash occur and is it now over? What happened to Terra? Stablecoins, which are pegged to the value of traditional assets such as the US dollar, are usually popular in times of turmoil. They are key elements of the cryptocurrency market and traders park funds in these assets as they move in and out of other digital tokens. However, Terra slipped below its 1:1 peg to the dollar this week, as global stock markets fell amid rising interest rates and high inflation. Terra's value is derived by algorithmic processes and it is linked to another paired token called Luna. Luna fell by more than 94 per cent on Wednesday to almo

Shyam Maheshwari SSG describes the Indian credit market and how it is dominated by private lenders. The Indian credit market has been dominated by banks and non-bank financial companies for a long period. It started with the primary dominance of PSU banks then the private sector banks came along.   Still, the credit to GDP ratio is relatively modest and low for the stage of growth of the country.   As the economy develops credit intensity would probably increase initially and the need for credit is very much out there. The challenges the banks and non-banks as you have rightly pointed out may not be able to fulfil that requirement and that’s where the private credit demand is extremely apparent and necessary for the growth, says Shyam Maheshwari. Shyam Maheshwari thinks that taking what he said on the flexibility, also emanates from the regulated players which have been dominating the market for a long time whether it is a bank or a non-bank. One is regulated second is leveraged. T