RNI No.

: MAHENG/2018/76663
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MUMBAI: TUESDAY, MARCH 05, 2019 • VOL. No. 1 • Issue No. 42 • IPEPCIL PUBLICATIONS PVT LTD. • 8 PAGES • PRICE: ₹ 8

Now, Saudi tourist Indian passport

visa for travellers
RIYADH: Saudi Arabia’s
cabinet has approved elec-
tronic visas for foreign
visitors to attend sporting
events and concerts as the
world’s top oil exporter tries
to diversify its economy
and open up its society. Pre-
viously, Saudi Arabia had
no visa designed specifical-
ly for tourism purposes and
visas could only be granted
to particular groups on a
limited basis.
According to officials,
the Saudi Arabia visa appli-
cation will only take a few
minutes to complete online
and there will be no need to
go to an embassy or consul-
ate. Once the application
is approved, it will be sent
to the applicant by email.
This new move symbolises
a change for the kingdom,
which was known to be one
of the most difficult coun-
tries to enter. Saudi Arabia
allowed tourist visas for
the first time in Dec last
year when the Formula-E
race was held in Riyadh.
All visitors to Saudi Arabia
are required to have a valid
passport with at least six
months validity, in addition
to the appropriate visa and
a return ticket, with all nec-
essary documents.
Economic reforms
pushed by Crown Prince
Mohammad Bin Salman
aim to lift total tourism
spending in the kingdom
— by local citizens as well
as foreigners — to $46.6
billion in 2020 from $27.9
billion in 2015, the govern-
ment has said. “Embassies
and consulates will be able
to issue the visas within
24 hours of receiving a re-
quest,” a TV channel re-
ported. It (Contd. on page 2)
services go
online in Oman
MUSCAT: Indian citi-
zens in Oman who wish
to renew or apply for
new passports will only
be able to do so online
now. This has been an-
nounced by the Em-
bassy of India in Oman.
From March 3, 2019, the
Global Passport Seva
Programme came into
effect enabling people
to apply for their pass-
ports through the por-
tal. The current process
of passport renewal will
last until March 10. Union HRD Minister Prakash Javadekar presenting PhD to students at the 13th convocation of
Dr DY Patil University in Nerul, Thane district, Maharashtra.

Passport of 45
NRIs cancelled
NEW DELHI: The govern-
ment has cancelled passports
of 45 NRIs for abandoning
their wives, Women and
Child Development minister
Maneka Gandhi has said.
The Integrated Nodal
Agency made to look into
the matter has been issuing
Look-Out Circulars to ab-
sconding husbands in cases
of NRI marriages and 45 pass-
ports have been impounded
by the external affairs minis-
try, Gandhi said. The agency
is chaired by secretary in the
women and child develop-
ment minister Rakesh Srivas-
tava. Gandhi said the govern-
ment had also introduced in
Rajya Sabha a bill to give jus-
tice to the women who have
been abandoned by their
NRI husbands, but expressed
dismay that the bill has got
stalled in the upper house.
The bill envisages reg-
istration of marriages by
NRIs, amendment of the
Passports Act, 1967 and
Amendment to the Code of
Criminal Procedure, 1973.
Pension option for staff of public
sector insurance companies
NEW DELHI: The govern-
ment has decided to allow
one more opportunity to
employees of public sector
insurance companies who
joined the service by June
28, 1995, to opt for pension
as a retirement benefit. In
April 1997, employees of
Life Insurance Corporation,
General Insurance Corpora-
tion of India, National Insur-
ance Company, Oriental In-
surance Company, United
India Insurance Company
and New India Assurance
Company were offered a
similar opportunity.
But many eligible em-
ployees could not exercise
the option. There has been
a long-standing demand for
another chance. To mitigate
the hardships of such em-
ployees of whom many have
retired, the government has
decided as a welfare mea-
sure to allow one more op-
portunity to employees of
public sector insurance
companies who joined ser-
vice on or before June 28,
1995 to opt for the pension
scheme of their respective
organisations in lieu of con-
tributory provident fund.
The decision is expected
to benefit 42,720 employ-
ees (serving and retired)
of which 24,595 are of Life
Insurance Corporation and
18,125 of other companies,
said an official statement
issued by the Department
of Financial Services.
Air India not to accept cancelled
tickets of Jet Airways
MUMBAI: As Jet Airways continue to face severe financial
problems, Air India has said it would not accept any passen-
gers who have got cancelled tickets of Jet. Generally, when
an airline cancels a flight due to some exigencies, other air-
lines accommodate the former’s passengers in their flights.
The airline, which has got its flight cancelled, has to pay
other airlines for passengers accommodated. “With immedi-
ate effect and till further notice, Jet Airways (India) and Jet
Lite Limited documents (including FIM and endorsed/invol-
untary rerouted/rebooked/exchanged/re-issue documents)
are not to be accepted for travel on Air India flights,” said
an order of Air India dated March 1. FIM stands for Flight
Interruption Manifest. Around 15 aircraft of Jet have been
grounded by the lessors due to non-payment. Jet is trying to
raise funds for its operations as it has a debt of around Rs
8,200 crore currently. Moreover, its pilots have been threat-
ening action as there have been delays in salary payment.

Indian economy to grow States urged to join Udan

at 7.3pc, says Moody’s
NEW YORK: Even as the
global economy will fur-
ther weaken in 2019 and
2020, India’s economy will
grow at 7.3pc in both the
calendar years as it is less
exposed to the global slow-
down, Moody’s said. “We
expect India’s economy to
grow around 7.3pc in both
the years,” the US-based
rating agency said in its
quarterly Global Macro
Outlook for 2019 and 2020.
Its outlooks are based on
the calendar year (Jan-Dec).
Suggesting downside
risks to global growth and
slowing of the monetary pol-
icy normalisation in 2019, it
said: “The global economy
weakened significantly in
the fourth quarter of 2018
and will continue to weaken
throughout 2019 and into
2020.” However, it said In-
dia and Indonesia are poised
to grow at a relatively stable
pace, though below their re-
spective potential.
“While not immune, In-
dia and Indonesia are less
exposed to a slowdown in
global manufacturing trade
growth than other ma-
jor Asian economies and
emerging markets,” it said.
Moody’s said the govern-
ment spending announced
ahead of elections this year
will support near-term
growth in India by increas-
ing consumption. Also, RBI
is likely to maintain its cur-
rent monetary policy stance
after some tightening last
year.
In the Interim budget
in February, the govern-
ment had announced a
special relief package for
the distressed farmers and
tax breaks for middle-class
earners through tax rebates
and an increased standard
deduction. “Together, the
direct cash transfer pro-
gramme for farmers and
the middle class tax relief
measures will contribute
a fiscal stimulus of about
0.45pc of GDP,” it said, add-
ing that the Indian house-
hold spending growth will
remain stable.
RBI cut its benchmark
policy rate in Feb and
changed the policy stance to
“neutral” from “calibrated
tightening” after witnessing
falling inflation since mid-
2018. It fell to 2.04pc in Jan,
largely because of declin-
ing food prices. Moody’s
said the overall strength of
the banking system, which
got capital infusion from
the government in Feb is
improving but it remains a
constraint on the economy.
These measures, com-
bined with the application
of the prompt corrective ac-
tion framework, which re-
quires timely recognition of
bad loans and their resolu-
tion through the Insolvency
and Bankruptcy Code, are
helping to address solven-
cy and asset quality chal-
lenges.
According to RBI, non-
performing assets declined
to 10.8pc in Sept 2018 from
a peak of 11.5pc in March
2018. The central bank ex-
pects this ratio to improve
further to 10.3pc in March
2019. “In fact, with range-
bound oil prices, export
growth has outpaced im-
port growth for the last two
years. Fiscal spending on
infrastructure and the rural
economy should continue
to support domestic activ-
ity,” Moody’s said.
NEW DELHI: Union Minis-
ter Suresh Prabhu has called
upon state governments to
join the regional air connec-
tivity scheme –Udan -- to
realise the growth benefits
from the multiplier effect of
travel and tourism.
Inaugurating the third
edition of “Wings 2019”
here, the junior civil avia-
tion minister said that in
order to make air travel af-
fordable and accessible to
the common man, states
would have to be integral
partners in the scheme and
join hands with airlines and
other stakeholders.
“It is in the states where
the action is. It is they who
will have to drive the process
and become beneficiaries of
growth,” he said at the event
which was jointly organised
by the Federation of Indian
Chambers of Commerce and
Industry (FICCI) with the
ministry of civil aviation.
The states, he said,
would have to envisage hav-
ing facilities to accommo-
date wide-body aircraft from
their airports. On Jan 25, the
central government awarded
contracts to 11 companies
to operate fixed-wing and
seaplane services under the
third round of Udan scheme
connecting destinations like
Ambala, Amravati, Camp-
bell Bay and Car Nicobar
among others. Accordingly,
the ministry issued “Letter of
Awards” for 73 proposals in-
volving 235 regional connec-
tivity scheme (RCS) and wa-
Forex reserves at $399.21b
MUMBAI: The country’s
foreign exchange reserves
increased by $944.7 mil-
lion to $399.217 billion in
the week to Feb 22 due to
increase in foreign currency
assets. In the previous week,
the reserves had increased by
$150.2 million to $ 398.272
billion. In the reporting week,
foreign currency assets, a ma-
jor component of the overall
reserves, rose by $928.6 mil-
lion to $371.99 billion.
Expressed in US dol-
lars, foreign currency assets
include the effect of appre-
ciation or depreciation of
ter aerodrome routes which
were received under the
third round of RCS-Udan.
This was the first time
that proposals for connect-
ing tourist destinations
and seaplane services have
been awarded. In the cur-
rent scheme, the support
fund for routes connecting
tourist destinations will be
provided by the ministry of
tourism. (Contd. on page 2)
non-US currencies such as
the euro, pound and yen
held in the reserves. The
reserves had touched a re-
cord high of $426.028b in
the week to April 13, 2018.
Since then, the forex kitty
has been on a slide and is
now down by over $31b.
Gold reserves remained
unchanged at $22.764b in
the reporting week, the data
showed. The special draw-
ing rights with IMF rose by
$5.3m to $1.460b.
The country’s reserve
position with IMF increased
by $0.8m to $2.993b.

OCI cards to be printed in New Zealand

WELLINGTON: There is some
good news for members of the
Indian diaspora as Overseas
Citizen of India (OCI) cards will
now be printed in Wellington,
New Zealand. Presemntly, OCI
cards are being printed in India.
An OCI card allows a foreign
citizen of Indian origin to live
and work in India indefinitely.
As part of government of In-
dia’s continuous endeavour to
simplify, improve and expedite
provision of consular services,
the high commission of India
in Wellington has started the
printing of Overseas Citizen of
India cards with effect from Feb
28. The printing of OCI cards
in New Zealand will result in
further reduction in processing
time of OCI applications, there-
by benefitting all persons of
Indian origin in New Zealand,
Samoa and Niue.
“Once the printing pro-
cess is streamlined, our aim is
to bring down the processing
time of OCI applications to 30
working days from the cur-
rent 40 to 50 working days,”
a source said. OCI was intro-
duced in view of considerable
demands from the people of
Indian diaspora particularly in
developed countries. Overseas
Citizenship of India scheme
was introduced by amending
the Citizenship Act, 1955 in
August 2005, granting certain
privileges to the foreigners of
Indian origin for travelling to
and staying in India, acquiring
property in India and in certain
financial, economic and educa-
tional matters.
The scheme was launched
during one of the PBDs.
OCI CARD PRIVILEGES:
• Multiple-entry multi-pur-
pose life-long visa to visit India
(special approval is required for
research, mountaineering, mis-
sionary activities, journalism
and to visit restricted / protect-
ed areas).
• Exemption from reporting
to police authorities / FRRO for
any length of stay in India; par-
ity with NRIs in certain finan-
cial, economic and educational
matters except for acquisition
of agricultural or plantation
land and In matters pertaining
to inter-country adoption of In-
dian children.
• Parity with domestic Indi-
ans in an entry to national parks
and wildlife sanctuaries and in
a matter of tariffs in airfares in
domestic sectors in India.
• Eligible for grant of Indian
citizenship under Section 5(1)
(g) of the Citizenship Act, 1955
after completion of five years
as OCI card holder, provided
he has resided in India for one
year out of five years before
making the application.
• However, OCI card hold-
ers do not have any voting
rights and are not eligible for
election to parliament or state
legislatures or for holding con-
stitutional posts such as presi-
dent, vice president, judges of
supreme court/high court etc or
to hold any public office under
the union or any of the state
governments.

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 2 EMIGRATION Tuesday, March 05, 2019

Indian-origin man Gold demand in India improves

gets jail for fraud
NEW YORK: An Indian-
origin man has been sen-
tenced to nearly three years
in prison and ordered to
pay $2.6 million in restitu-
tion for being convicted of
mail fraud and embezzle-
ment. Dinesh Shankar (41)
of San Jose, California, was
sentenced to 33 months in
prison as a result of the
mail fraud conviction for
embezzling from a medical
device company, Attorney
David Anderson said.
In addition to the pris-
on sentence and the $2.6
million restitution, he
was also ordered to serve
a three-year term of su-
pervised release. Shankar
will begin serving his sen-
tence this year. Accord-
ing to the plea agreement,
from March 2013 until Jan
2018, Shankar was an em-
ployee of a medical device
company. Beginning July
2013 until Dec 2017, he
submitted false expense
reports and false invoices
to the company’s finance
department, causing the
company to pay more than
half-a-million dollars in
excess of the legitimate ex-
penses and expenditures
for services provided to
the company. In addition,
Shankar admitted that
he created false invoices
that appeared to be issued
by six different entities,
which were actually ficti-
tious business names for
entities that he controlled.
He prepared the false
invoices to make it appear
that the entities provided
testing and quality assur-
ance services to his em-
ployer when, in fact, they
had not provided the ser-
vices. Shankar admitted
he caused a total loss to
the company of about $2.5
million. A federal grand
jury indicted Shankar in
April last year charging
him with six counts of
mail fraud. He pleaded
guilty to one count in No-
vember and the remaining
counts were dismissed.
DUBAI: Looks like it’s time
to buy gold and jewellery as
prices of the yellow metal
continue to fall persistent-
ly, posting its biggest week-
ly decline since Nov 2018
last week.
Analysts forecast that
the prices will remain un-
der pressure in the near
future but will pick up in
the later part of the year
--- 24-carat gold could gain
nine per cent and cross
Dh170 per gm by end-2019
from the present level of
Dh156.75. As a result of a
dip in prices, some major
Dubai jewellery retailers, as
well as in India and China,
are reporting higher cus-
tomer footfall and sales.
Gold demand in India
improved following a fall
in local prices, while some
investors in other major
Asian centres sold the met-
al back to make use of rela-
tively higher prices while
delaying purchases on ex-
pectations of a further cor-
rection. “Jewellers are buy-
ing in a phased manner as
prices have corrected. They
are expecting an improve-
ment in retail demand in
coming weeks,” said Har-
shad Ajmera, the proprietor
of JJ Gold House, a whole-
saler in the eastern Indian
city of Kolkata.
Dealers in India were of-
fering a discount of up to
$2 an ounce over official
domestic prices this week,
down from last week’s $6.
The domestic price includes
a 10pc import tax. “As of
now prices are correcting,
some jewellers are expecting
a further fall in prices. They
are not covering their full re-
quirement,” said a Mumbai-
based dealer with a bullion
importing bank.
Shamlal Ahamed, man-
aging director for interna-
tional operations at Malabar
Gold and Diamonds, said
they are witnessing a sig-
nificant increase in the cus-
tomer footfalls in the past
few days. “The overall price
trend these days is still very
positive for the gold buy-
ers,” he said. Ole Hansen,
head of commodity strategy
at Saxo Bank, noted that a
combination of continued
demand for stocks, a stron-
ger dollar, rising US bond
yields and the recent rejec-
tion at $1,350 an ounce all
helped attract profit-taking
in yellow metal.
Vijay Valecha, chief in-
vestment analyst at Century
Financial, observed that in-
ternational gold spot prices
have declined 4.1pc in the
last two weeks driven by
seasonality and profit-book-
ing. “Sentiments are likely
to be negative in the near
term but demand could pick
up in the later part of the
year on an uncertain eco-
nomic outlook and dovish
monetary policy,” he said.
“The current global eco-
nomic expansion, which be-
gan in 2009, is well past its
prime and we could be head-
ing into a recession in 2020.
This economic uncertainty
along with a benign interest
rate environment should pro-
pel gold higher by 8.5pc from
the current levels to $1,400
per ounce by the year-end.
We could see the UAE 24-car-
at gold rate at Dh171.40 by
the end of the year.”
Traditionally, he said,
gold demand tends to
soften after the end of the
Chinese New Year, as well
as the peak of Indian wed-
ding season. Also, $1,340 to
$1,360 is a strong resistance
zone in the international
gold market where sellers
come into play.

RAK beckons investments from Kerala Jay Chaudhry climbs into

KOCHI: If “Made in Kerala”
products are popular any-
where outside Kerala, it
would definitely be in the
Gulf region. But, Ras Al
Khaimah or RAK, one of the
seven emirates which make
up the UAE with a signifi-
cant population comprising
Malayalee NRIs, is an odd
exception. Despite the po-
tential, there is not much of
a presence for brands from
Kerala in the emirates.
Abdullah Rashid Al Man-
soori, chairman of Global
Management & Organiser
Exhibitions, is determined to
change this. Mansoori, was in
Kochi for two days, convinc-
ing companies from Kerala
to push their brands in Ras
Al Khaimah and set up their
facilities, factories and ware-
houses at the Ras Al Khaimah
Economic Zone (RAKEZ).
“RAKEZ has offered 20 to
50pc discount for companies
coming to the zone, includ-
ing setting up warehouse,
office, real estate and health-
care. Ras Al Khaimah will
also give unlimited visas for
workers of companies from
Kerala,” he said.
Ashwin Khanna, sales
team leader at RAKEZ, flew
down to Kochi the other day
to interact with potential
businesses and invite them
to invest in the economic
zone. RAK is now focusing
on building a competitively
stronger economy. Being a
logistic hub with seaports,
international airport and
multi-lane superhighways,
companies can easily access
the trade flows between the
east and the west.
Mansoori said RAK is
one of the fastest grow-
ing economies in the UAE
with the presence of large
industries, strong support
from the government de-
partments and modern and
developed road network,
cost-effective company set-
up and resident population
with high spending poten-
tial. RAK is hosting a five-
day exhibition titled “Made
in Kerala-2019” from April
9 to 13. “Even though we of-
fer a discount of 20 to 50pc,
we are confident that within
five years, these companies
will bring the capital back,”
Mansoori said. Made in
Kerala 2019 is targeted to
promote the various brands
of Kerala in the UAE to avail
Kerala’s businesses a plat-
form to explore new oppor-
tunities, to exhibit the grow-
ing potential Kerala and to
encourage Foreign Direct
Investment and to promote
sectors in Kerala which have
the strong market potential.
Hence, the product sectors
on focus at the Expo would
include health and well-
ness, education, travel and
tourism, finance and invest-
ment, home and living, fash-
ion and food products.
While Kerala-based
companies in Ayurveda,
tourism, organic food and
handmade products offer
immense scope for the RAK
market, Mansoori said there
is also potential for Kerala to
lure business from the emir-
ate. “This exhibition can be
used by Kerala tourism and
other sectors to attract visi-
tors/investors into Kerala,”
he said. About 40 compa-
nies have already expressed
interest to participate in the
“Made in Kerala” expo.
world’s richest club
NEW YORK: Decades before he joined the business.” Fuelled by the rapid rise of cloud-
ranks of Silicon Valley’s super rich, Jay based computing, companies are increasing-
Chaudhry lived with his parents in a Hi- ly tethering more and more of their business
malayan village without running water. to online networks. While this allows them
The founder of Zscaler Inc. is now part of a to gather unprecedented levels of operational
growing wave of billionaires who information, it also exposes their
have built cybersecurity business- firms to more cyber threats.
es. Chaudhry (60) and his family Data protection laws and high-
benefit from stakes in the San Jose- profile cyberattacks -- such as the
based firm worth almost $3.4 bil- world’s largest airline data hack
lion. He along with six other cyber- last year -- are equally forcing com-
security software tycoons emerged panies to reconsider their internet
with 10-figure fortunes in the past defences. At the same time, West-
year are worth about $10 billion ern governments have expressed
combined, according to the Bloom- Jay Chaudhry concern that China’s intelligence
berg Billionaires Index, and togeth- services are snooping on foreign
er represent the latest wealth surge among citizens through products sold by telecom
the founders of internet-focused firms. giant Huawei Technologies Co. The sector
“I do look sometimes back and say, has minted at least seven billionaires in the
‘Whoa,’” Chaudhry told a TV channel. “My past 12 months. “The world runs on large-
success so far has mainly been because I have scale networks and data systems that are
very little attachment for money. My obses- inherently complex and highly connected,”
sion is really to make sure that the internet said Awais Rashid, professor of cybersecu-
and cloud are a safe place for everyone to do rity at the University of Bristol in England.

Neha Kakkar to US-Indian Medha VP of Saudi ninth most powerful

perform in Dubai Pennsylvania varsity country: US study
JEDDAH: A US study has sia, China, Germany and
DUBAI: Bringing energy and making the festival of colours PENNSYLVANIA: The Uni- people across our university. responsibilities, Narvekar
Holi, more memorable, Neha Kakkar will have Dubai danc- ranked Saudi Arabia as the Britain.
versity of Pennsylvania Her extensive experience will continue to provide ninth most powerful coun- The study considered
ing to her hit Bollywood numbers at an ensuing Holi Masti and its president Amy Gut- across all areas—including support to DAR, serving as
event. The singer will be headlining the Holi festivities at try in the world in terms of the country’s political and
mann announced that it has working directly with trust- liaison from Development political and financial in- financial influences in their
Al Sahra Desert Resort Equestrian Centre Dubai on Friday, named Medha Narvekar as ees, overseers and Penn’s to the President’s Office.
March 22. The day-long entertainment event will start at fluence. Saudi Arabia was rankings, as well as its in-
its next vice president and In this capacity, the uni- described as a “Middle East ternational alliances, the
10.30am and will feature a separate kids’ area, food and secretary. Narvekar will of- versity report added, she
beverage stalls giant” and the Kingdom strength of its military and
ficially assume the posts on will continue to have a re- has very large oil reserves how it acts as an interna-
and much July 1. porting relationship to John
more. and exports to many coun- tional leader. They come as
The Indian American ex- Zeller, senior vice presi- tries around the world, and part of US News and World
Neha Kak- ecutive has worked in Penn’s dent of DAR, and remain a
kar, the rock- millions of Muslims visit Report’s “2019 Best Coun-
Development and Alumni member of the DAR senior Makkah throughout the tries” ranking conducted
star and glam- Relations office for 32 years, management team as the
our queen of year for pilgrimage. in collaboration with the
beginning shortly after she university moves through The study published by University of Pennsylva-
the Indian earned an MBA from Penn’s the final phases of the
music indus- the Business Insider maga- nia, which surveyed more
Wharton School. Most re- Power of Penn fundraising zine listed the US at the top than 20,000 people on their
try will be cently, she has served as campaign. Narvekar, when
belting out her of the list, followed by Rus- opinions of 80 countries.
senior associate vice presi- Medha Narvekar she takes over this summer,
blockbuster
hits includ-
dent of DAR, working close-
ly with the president and
most generous donors—gives
her a unique capacity to step
will succeed Leslie Kruhly,
who retires at the end of
NRI killed in road mishap
MOHALI: An NRI (45) from the UK was killed in a road
ing Dhating many trustees. into the important position June but who has agreed accident on Airport Road near Sector 68 here. The victim
Naach, Kala Neha Kakkar “Medha is both renowned of vice president and secre- to remain at Penn through has been identified as Sanjiv Kumar, who arrived here last
Chashma, and respected across Penn,” tary.” Narvekar earned a BA the end of 2019 as a senior month. According to the police, Sanjiv was travelling in a
Sunny Sunny, London Thumkada and Kar Gayee Chull Gutmann said in a statement. from Swarthmore College in adviser to the president to cab, which was hit by a speeding Creta from the rear side.
along with the popular Holi songs. Music by DJ Pierre “Very few people know Penn 1981 and her Wharton de- help with the leadership Sanjiv was coming from his cousin’s house and heading
Ferns, DJ Ricky, DJ Chirag and DJ Praveen Nair and DJ Es- as well or have worked so gree in 1986. transition in the secretary’stowards Phase-1, where he was staying. The police said
sam will also get people grooving. Tickets are available on successfully with so many In addition to her new office. the victim died on the spot, while the cab driver, Rupinder
Platinum List Dubai and priced at Dhs99 for one person,

EPFO warns employers

Dhs179 for two people and Dhs299 for four people.
NEW DELHI: After the Su-
preme Court held that spe-
Published by IPEPCIL Publications Ltd cial allowance is part of basic
RNI No.: MAHENG/2018/76663 wages for EPF dues compu-
Publisher: Supreet M.J. tation, retirement fund body
Editor : E.L. Vaidyanathan EPFO has decided to take
Volume No.: 1, Issue: 42 a stringent action against
those firms which will not
Published at: Office No. 1001, 10th Floor,
take into account such com-
Navjivan Commercial Premises Co-op. Society Ltd.,
ponent in PF contributions.
Lamington Road, (Dr.D.B.Marg), Mumbai Central, The apex court in its
Mumbai - 400 008. Ph.: 022 - 23001102 / 23001103. judgment has ruled that
Printed at: Inquilab Offset Printers Ltd., 156, D J Dadaji Road, special allowance is part of
Tardeo, Mumbai-400 034, Maharashtra, India. the basic wages for comput-
escaped unhurt. Creta driver Somal Soni also received
minor injuries in the incident. Somal’s father is a police
inspector posted at Fatehgarh Sahib. Sanjiv is survived by
ing the employees provident towards contribution for so-
his wife, a five-year-old son and a two-year-old daughter,
fund (EPF). The employer cial security scheme run by
who are in the UK. According to one of his relatives, San-
as well as employee pay the Employees’ Provident
jiv came here on Feb 18 and was supposed to go back on
12pc of basic wages each Fund Organisation (EPFO).
March 9. A case has been registered against Somal.
States urged to join... Now, Saudi tourist visa...
(Contd. from page 1) (Contd. from page 1)
Subsequently, flight operations are expected to connect des- did not specify when the visas would become available.
tinations like Kushinagar, Jharsuguda, Saharanpur(Sarsawa), As part of Prince Mohammad’s agenda, the kingdom
Guwahati River Front, Nagarjuna Sagar, Statue of Unity in has ended a nearly 40-year ban on cinemas, allowed mu-
Gujarat among others. According to the ministry, 16 un- sic concerts, including performances by Western pop stars
served and 17 underserved airports, along with six water and organised international sporting events. There are a
aerodromes and 50 served airports would be connected, number of tourist attractions being developed in Saudi
based on the proposals identified for the award. Arabia, including Amaala and Al Ula.
Tuesday, March 05, 2019
GULF JOBS & OPPORTUNITIES 3

FOR SUBSCRIPTION CALL

022 - 23001102 / 23001103
Email: circulation@newsandnri.com

Please visit
www.newsandnriconnect.com
 4 GULF JOBS & OPPORTUNITIES Tuesday, March 05, 2019

Five-fold rise in hiring by IT firms N AT I O N A L

NEW DELHI: Jobs are back in
IT! The $167 billion industry,
which was singing a dirge on
rampant job cuts, irregular hir-
ing patterns and reneging job
offers made at campuses until
a year ago, have risen like a
phoenix from the ashes. Data
collated from the top four IT
companies reveal that there
has been a five-fold increase
in hiring during the first nine
months of the current finan-
cial year as compared with
the overall hiring made in
ness following strong attrition
through the past year amid
rising tide of newer technolo-
gies, pressure on traditional
businesses and growing protec-
tionism in their main markets.
Thanks to the inflow of large
deals and with new digital op-
portunities picking up, the IT
majors are once again ramping
these cities have a strong talent
to hurt their margins. TCS,
pool. Salaries are projected to which secured deals worth
rise by 10-13pc in 2019, and $5.9 billion during the Decem-
the highest paid technology ber quarter, said it has hired
areas are going to be big data more employees to meet that
analytics, machine learning demand which weighed on the
and Artificial Intelligence de- margin. “We’ve been adding
velopers, she observed. The people. The costs primarily are
IT staffing industry is pegged higher because of the people
to grow at 14-16pc per annum cost,” said V Ramakrishan,
chief financial officer, said.
TCS’ margin stood at 25.6pc
in the December quarter. That’s
below the guided range of
26-28pc and also the biggest 





2017-2018. sequential decline since April-  



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IT majors such as Tata June 2017-18. 

Consultancy Services, Infosys, On hiring 

'



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Wipro and HCL have together The surge in hiring by IT  )  
hired more than 70,000 people, up their operations. Besides and garner $5.3 billion by firms could be to stabilise busi- 



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with TCS leading the pack hiring afresh, they have also 2021, contributing to the new ness following strong attrition,  )# ! "
adding 22,931 employees in begun to spend on upskilling age of technology. say analysts. 
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the nine months to December employees. While this is good news for   
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2018, followed by rival Infosys According to Rituparna IT professionals as it comes DISCLAIMER $%
  

Readers are requested to verify and make appropriate enquiries to satisfy themselves about the veracity of an advertisement %&&
adding 21,398 people, Wipro Chakraborty, co-founder of hir- in the backdrop of a major before responding to any published advertisements in this newspaper. NEWS AND NRI CONNECT, its publisher and owner
(12,456) and HCL (12,247). ing firm TeamLease Services, lay-off season in last two IPEPCIL Publications do NOT vouch for the authenticity of any advertisement or advertiser or for any of the advertiser’s  
   

Analysts say that this surge tier 2 and tier 3 cities, will years, it is not exactly so for products and /or services. In no event can the owner, publisher, printer, editor, director, employees of this newspaper/company
be held responsible/liable in any manner whatsoever for any claims and /or damages for advertisements in this newspaper.

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could be to stabilise the busi- benefit from this demand, as the companies as it continues

Careers in biotech shaping up: Sheffield lecturer FIEO seeks more products
NEW DELHI: Recently,
the British Council had
organised Biotechnology
Mission in South India,
whose objective was to
develop partnerships in
areas of biotechnology at
South Indian higher educa-
tion institutions. “Research
in biotech as well as an-
timicrobial resistance is
growing in both academia
and pharma industry,”
says Dr Lynda Partridge,
senior lecturer, Department
of Molecular Biology and
Biotechnology, University
of Sheffield, UK, who was
part of the mission. In
an interview to a leading
business newspaper, she
said that with increased in-
vestment, “there are many
new career opportunities
for graduates looking to
implement change in this
field around the globe.”
University of Sheffield has
launched the MSc Antimi-
crobial Resistance course.
What is the need for this
study area?
Antimicrobial resis-
tance poses a serious threat
to global public health. It
occurs when the microbes
that cause infection sur-
vive exposure to a medi-
cine that would normally
kill them. There may be 10
million deaths per year by
2050 due to antibiotic re-
sistant microbes unless we
step. University of Shef-
field has a strong history
in this area; Sir Howard
Florey carried out first
clinical trials of penicillin
in Sheffield, and warned
of the possible dangers
of antibiotic resistance in
his Nobel Prize acceptance
speech in 1945. We need a
better understanding of the
spread of resistance. That’s
why experts at Sheffield’s
Florey Institute developed
this course.
Who is the programme
aimed at?
It’s aimed at students
with an interest in infec-
tious diseases, antibiotics
and their use in healthcare
‘sticking’ to the cells in our
bodies in the first place)
under MEIS via e-commerce
and infection control. and the development of MUMBAI: Federation of In- mediate expansion as many
What are the career op- new vaccines. dian Export Organisations MSME (micro, small and
portunities? You’re developing a (FIEO) has sought inclusion medium enterprises) units ex-
Graduates will be new eye infection treat- of jewellery and auto compo- porting auto components, are
equipped with specialist ment with LV Prasad In- deprived of MEIS,” he said.
knowledge and transfer- stitute… The proposed policy
able skills needed to pur- Eye infections can lead should bring uniform defini-
sue careers as research to loss of sight. In India, tion of e-commerce as various
scientists or consultants it’s estimated that 840,000 acts and policies define the
for biotechnology or phar- people a year may be world differently, Gupta said.
maceutical giants, policy- affected by this ‘silent The limitation of Rs
makers for public health epidemic’. A team of sci- 25,000 for e-commerce ex-
organisations or NGOs, entists and clinicians from ports or imports through
or careers in academia in University of Sheffield nents under the export incen- courier, should be either
the areas of microbiology, and LV Prasad Institute tive scheme via e-commerce removed or enhanced to Rs
immunology and beyond. are developing a treat- to boost outbound shipments. 5 lakh, so that high-value
What are the alternatives ment that doesn’t rely on Commenting on the draft shipments can be exported
to antibiotics? conventional antibiotics. e-commerce policy, FIEO through courier mode, avail-
If we can understand We’ve identified a way of president Ganesh Kumar ing fast-track facility. It is
the way microbes infect preventing microbes from Gupta said only a few items ironical that e-commerce
and spread in our bod- establishing an infection such as handicraft, hand- retail exports are still in the
ies, we can develop new on the surface of the eye, loom, books, leather footwear manual mode and the need
therapies. Approaches which can be applied and toys avail exports incen- of the hour is that the en-
we’re investigating include without the need for time- tives under Merchandise tire e-commerce transaction
anti-adhesive therapy (to consuming diagnosis, even Exports from India Scheme should be carried out through
prevent microbes from in rural areas. (MEIS). “The list requires im- electronic module, he added.

RBI extends KYC deadline by 6 months Essar Oil gets environment nod
MUMBAI: Providing a ma-
jor relief to e-wallet compa-
nies, the Reserve Bank of
India has extended dead-
line by six months for com-
pliance with Know Your
Customer (KYC) norms,
for prepaid payment in-
strument (PPI) issuers.
The earlier deadline was
February 28.
The RBI had said it
had received requests from
various stakeholders to
increase the timeline given
the difficulties in undertak-
ing Aadhaar e-KYC and
time necessary to put in
place alternative systems
for completing the KYC
process.
U p a s a n a Ta ku , c o -
founder and director at
MobiKwik, said the exten-
sion will give it more time
for completing the full KYC
process for its users.
“Mobile wallets have
been instrumental in driv-
ing digital payments in
India. This announcement
will ensure increased adop-
tion and growth for digital
payments. It will in turn
have a positive impact
on the financial inclusion
story,” she said.
The extension will also
offer players more time to
chart out strategy for com-
pliance, Payments Council
of India (PCI) chairman
Vishwas Patel said.
“If the extension had
not come through, our
members could have lost
80-90 per cent of their user
base. Physical KYC is not
only a time consuming ef-
fort but also an expensive
process. Operators will
now get more time to strat-
egise on the road map,” he
added.
PPIs are instruments
that facilitate purchase
of goods and services, in-
cluding financial services
and remittance facilities,
against the value stored on
such instruments. E-wallet
companies were caught in
a bind over looming dead-
line as companies were
apprehensive that they will
not be able to meet the
central bank’s deadline to
complete KYC of all cus-
tomers by February-end.
The largest player in the
ecosystem, Paytm did not
respond to queries.
“ Po s t t h e A a d h a a r
judgement, the entire PPI
industry was anxiously
awaiting clarity on how to
do KYC moving forward.
This six-month extension
will help settle things
down smoothly,” Hemant
Gala, head of Payments,
Banking and Financial
Services at PhonePe, said.
Amazon, which oper-
ates Amazon Pay, said the
extension in KYC timeline
will “ensure customers are
not impacted adversely”.
AHMEDABAD: Essar Oil &
Gas Exploration and Pro-
duction (EOGEPL) has re-
ceived environment clear-
ance for exploring shale
gas reserves in its Raniganj
block in West Bengal, an
official said.
This follows the govern-
ment’s decision to allow op-
erators freedom to explore
both conventional oil and
natural gas as well as non-
conventional sources like
coal-bed methane (CBM)
and shale reserves within
a exploration acreage. Es-
sar operates India’s highest
producing CBM block in
Raniganj.
Previously, companies
could explore only oil and
natural gas or CBM depend-
ing on their licence for the
block. The official said the
expert appraisal committee
(EAC) in January 29 meet-
ing allowed Essar to drill 20
wells to explore shale gas
in its Raniganj CBM block.
It has been awarded an
exploration lease for shale
gas, CBM and hydrocarbons
in the Raniganj block.
EOGPL has got approval
to drill 20 shale wells at a
cost of Rs 10 crore.
To start with, it will
drill five wells in the block
to test the shale potential.
When contacted, company
Managing Director and CEO
Vilas Tawde said: “We will
start off with collecting the
data. For this, we will need
to drill the coal, identify
the sweet spot and then
drill horizontally for almost
a km. Thereafter, we will
analyse the coal, the shale,
the strength of the shale,
and the required volume.
If this exploration is
successful, we plan to
drill around 220-250 wells
that will require an invest-
ment of Rs 7,000 crore,” he
said. EOGEPL has invested
around Rs 4,000 crore in
the Raniganj block, which
will produce 1.7 million
standard cubic metres per of
gas from coal seams (CBM)
in the next two years and
ramp up to 2.5 mmscmd in
the next three to four years.

Rajvardhan Azad appointed as chairman of Bihar university commission

NEW DELHI: Bihar gov-
ernment has appointed Dr
Rajvardhan Azad, former
chief and professor of
ophthalmology at the All
India Institute of Medical
sciences (AIIMS), New
Delhi, as the chairman
of the revived Bihar state
university service commis-
sion, which will carry out
appointment of teachers in
the understaffed universi-
ties of state.
The commission was
dissolved in 2007 and
10 years later in 2017
Bihar legislature passed
the Bihar state university
service commission Act to
fill large-scale vacancies,
which is hampering qual-
ity in higher education
in the state. A similar
move was made in 2011
also and the bill for the
revival of the commission
was passed from both
houses of the legislature.
However, it could not get
the gubernatorial assent
on the ground that it was
a money bill.
Azad, who received
the prestigious BC Roy
National Award for emi-
nent medical Teacher by
Medical Council of India
in 1987, will have tenure
of three years from the
date of notification or till
the age of 72 years. The
notification was issued by
the department of educa-
tion.
Azad served as chair-
man of various bodies,
including national task
force on ROP the field of retinal Azad, son of former vacancies in 2014. The in-
(retinopathy of disease, more so in Bihar chief minister Bhag- terview process got under-
prematurity), All retinopathy. He es- wat Jha Azad, also con- way in 2015 and is yet to
India Collegium tablished ROP unit tested the Lok Sabha elec- be completed. Before that,
of Ophthalmolo- along with neo- tion once in 2014 from the appointment of lectur-
gist (AIOS), family natology depart- Godda. ers was made in 2003 on
benefit scheme- ment of AIIMS and The appointment of the basis of 1997 advertise-
All India Ophthal- was responsible Azad finally sets the ball ment by the commission,
mological Society for training many rolling for the commission, which then existed.
(AIOS), ophthal- young ophthalmol- which will also have six The universities in Bi-
mic education ogist in manage- other members. The selec- har are facing a huge va-
committee Asia ment of ROP. tion of members is likely cancy, estimated to be over
Pacific Academy “I have devoted to be completed soon. A 7000 and still growing,
of Ophthalmol- my entire life to separate notification for the This is precisely what led
ogy, Ophthalmic teaching. I have constitution of the commis- to the creation the commis-
Instrument & Ap- served in various sion was also issued with sion after the matter was
pliances, Bureau capacities and will the one for the appointment raised several times in the
of Indian Stan- strive to give my of the chairman. Bihar assembly. Despite
darad, and head- best to the commis- At present, the Bihar recent appointments by the
quarter committee sion for strengthen- Public Service Commis- BPSC, several colleges and
All India Ophthal- ing Bihar’s higher sion (BPSC) is vested with departments are running
mological Society RP Centre for Ophthalmic education,” he said the power of appointment with inadequate teaching
(AIOS). Sciences, AIIMS, he made after receiving the notifi- of assistant professors. strength, with the situation
While working in Dr numerous contributions in cation. BPSC had advertised 3364 worse in rural areas.
 Tuesday, March 05, 2019
CSIR-UGC NET 2019: Registration closes on Mar 18 NHAI invites applications for 141 posts
T T
he online registration
process for Council
of Scientific and In-
dustrial Research (CSIR)
UGC NET examinations
June 2019 has already
started on February 25. The
examination is scheduled
to be conducted on June
16.
Candidates can apply
for the exam by visiting
the official website of CSIR
at csirhrdg.res.in. Click on
the link for applying online
to proceed. The link for
registration is not opening
at the moment. Candidates
may have to wait and try
after some time.
Candidates must care-
fully read the detailed
instructions contained in
the information bulletin
before applying for the
examination.
A candidate can apply
Maha govt to set up GRC for students
T
o address the com-
plaints and issues of
students, the Maha-
rashtra Higher and Techni-
cal Education Department
has issued a government
notification for setting up
a Grievance Redressal Cells
(GRC) at the college, uni-
versity and institutional
levels. Besides, there will
be a Lokpal in each uni-
versity to decide on the ap-
peals against Institutional
and University Grievance
Redressal Cells.
Officials from the High-
er and Technical Education
Department, the colleges or
recognised institutions and
various departments of an
university are expected to
set up the GRCs to address
the complaints or issues of
the students. The issues not
resolved at the department-
level of universities and
at the college level can be
Dry eye disease to affect 50pc urban Indians by 2030 New drug may help delay ageing in humans
N R
early half of India’s
urban population is
likely to be affected
by dry eye disease by 2030,
making it a bigger health
concern than lifestyle dis-
eases such as diabetes and
heart attack, pointed out a
recent study by researchers
from LV Prasad Eye Institute
(LVPEI).
The study pointed out
that area of residence, socio-
economic affluence and
professional work, including
computer-based vocations,
could play a role in deter-
mining the percentage of
risk. Men in their twenties
and thirties and women in
Oral typhoid vaccine may protect against other infections
O
ral typhoid vac-
cines, which have
with weakened
strains of Salmonella, may
also protect against other
infections, according to a
study that could impact
vaccination strategy in the
developing world, where
infectious diseases are
common and where broad-
er protection could poten-
tially save many lives.
Typhoid fever is a bac-
terial bloodstream infec-
tion caused by Salmonella
Tophi that is estimated
to affect between 11-18
million people and cause
between than 128,000-
190,000 deaths annually
worldwide.
Published in the jour-
nal Science Advances, the
study presents promising
first data on the ‘non-
specific’ immune response
NATIONAL JOBS & CAREERS
either for Junior Research only.
Fellowships (JRF) OR Lec- A candidate should sub-
tureship (LS). He/she may mit only one application. If
indicate his/her prefer- he submits more than one,
ence while applying. If a the application sent last
candidate applies for JRF will be considered. In order
and fulfils the eligibility to avoid last minute rush,
criteria for lectureship too, apply as early as possible.
he will be considered for The last date to apply for
both JRF and lectureship. CSIR-UGC NET for JRF/LS
If a candidate is found to June 2019 examination in
be over-aged for JRF, he/ March 18.
she will be automatically The examination is held
considered for lectureship to determine the eligi-
referred to the Institutional government must ensure
and University GRCs re- its effective implementa-
spectively. Each university tion to ensure that it does
will appoint a Lokpal or not become just another
ombudsman for hearing the complaint box, like the
appeals against the orders ones found in many gov-
of the Institutional and ernment departments. Also,
University GRCs. the government’s decision
Even as the state gov- to exempt appeals before
ernment has decided to set the Lokpal in matters of
up the students’ grievance revaluation or remarking
readdresal cells at college of answer sheets deprives
and university levels, the a large number of students
their forties and fifties are Electronic Medical Records
vulnerable to the disease, (EMR) system.
researchers said. The study estimated that
LVPEI Centre for Ocular based on current incidence
Regeneration director Dr rates, 45pc of India’s urban
Sayan Basu who carried population is likely to be af-
fected by dry eye
disease by 2030,
roughly translat-
ing to a stagger-
ing 275 million
people. Even ru-
ral India is likely
to see 17 million
new dry eye dis-
out the study along with Dr ease patients every year ac-
Anthony Vipin Das analysed cording to the study. “Dry
data records of 1.45 million eye disease not only affects
patients using LVPEI’s indig- the patient’s vision but also
enously developed eyeSmart disturbs their quality of life,
triggered by the live oral Previous evidence has
typhoid vaccine Ty21a. suggested that some live-
“Live-attenuated Salmo- attenuated vaccines, such
nella vaccines are low-cost, as those for measles and
well-tolerated and easily polio, can stimulate the
administered. These vac- human immune system to
generate
a wider
protec-
tive re-
sponse
and low-
er all-
cause
mortal-
ity.
In or-
cines could potentially be der to investigate whether
included in global vac- Salmonella vaccines might
cination programmes, not offer similar protection,
just for their impact on the researchers vaccinated
Salmonella, but also for a small group 16 healthy
their off-target, non-specif- adults in the UK with the
ic beneficial effects,” said Ty21a vaccine and studied
Shaun Pennington from the its impact on their immune
Liverpool School of Tropi- system over the course of
cal Medicine in the UK. six months.
bility candidates for the
award of Junior Research
Fellowships (JRF) and for
determining eligibility for
appointment as Lectur-
er in chemical sciences,
earth, atmospheric, ocean
and planetary sciences,
life sciences, mathemati-
cal sciences, physical sci-
ences. The award of Ju-
nior Research Fellowship
to the successful eligible
candidates depends on
their finding admission/
placement in a University/
National laboratory/ Insti-
tution of higher learning
and research.
Note: Go through the
information bulletin and
notification for CSIR-UGC
NET for JRF/LS June 2019
examination to know de-
tails about eligibility con-
ditions, exam centres, how
to apply and much more.
from seeking further rem-
edy in this frequently faced
issue.
“At present, there is no
such grievance redressal
mechanism at the college
or university level. Now,
students can raise various
issues, including denial
of admission on merit, ir-
regularities in admission
process, admission rejected
without reason, not fol-
lowing reservation rules
during admissions and
non-payment of scholar-
ships. Maharashtra is the
first state in the country
to have such a mechanism
for the students,” Vinod
Tawde, Minister for Higher
and Technical Education,
said while addressing the
media.
“The universities and
the colleges are expected
to set up these mechanisms
and Lokpal in the next two
causing anxiety and depres-
sion, often affecting their
professional productivity.
However, if detected early
and treated appropriately,
patients can lead a normal,”
Dr Basu said.
“At times, dry eyes can
Your wellness
be associated
with serious
medical con-
ditions such
as arthritis, which if ne-
glected can lead to irrevers-
ible visual impairment and
blindness. Therefore, it is
critical that people at risk
get screened for the condi-
tion and seeks timely relief,”
he added.
They looked at immune
responses targeting Sal-
monella as well as those
targeting a range of other
pathogens.
The changes they ob-
served to levels of infec-
tion-fighting white blood
cells (monocytes) and im-
mune system messengers
(cytokines) suggest that
Ty21a can strengthen the
immune response against
subsequent, unrelated in-
fections.
“The next step is to
observe whether these
responses also occur in
children in low-income
settings where their im-
pact would be greatest,”
said Melita Gordon from
University of Liverpool in
the UK.
“We’d like to conduct
further clinical studies,
where we will be able to
he National High-
ways Authority of In-
dia (NHAI) has issued
notification for a number
of posts. Applications have
been invited for 141 manager
and deputy manager posts.
Candidates interested to ap-
ply may do so on or before
May 8 through prescribed
format.
Applicants who wish to
apply for these posts must
have a degree in Civil Engi-
neering from any university
or institute recognised by
the government. Candidates
having required experience
in the relevant field will be
preferred.
Things to remember
Important dates
Last date for application
submission: May 8
Vacancy details
Manager (Technical) – 24
positions
to three months. It should
be effective from June
when the new academic
year starts,” Tawde added.
As per the norms, a
Lokpal can be a retired
district judge or retired
vice-chancellor or registrar
or principal. Senior profes-
sor, head of the depart-
ments, principals can head
GRCs. While the GRCs are
expected to resolve the
complaints in 50 days, the
Lokpal would resolve the
grievance in 30 days. There
are total 14 universities in
the state to which these
GRCs and Lokpal will be
applicable, said another
official.
The official said the
colleges or recognised in-
stitutions and universities
are expected to develop
a dedicated online portal,
where students can lodge
their complaints.
esearchers, including
one of Indian origin,
have developed a
promising drug that sig-
nificantly increases muscle
size, strength and meta-
bolic state in aged mice,
and may help delay ageing
process in
humans.
As we
age, our
bodies increasingly lose
the ability to repair and
rebuild degenerating skel-
etal muscles, said research-
ers from the University
of Texas Medical Branch
(UTMB) in the US.
Beginning around age
assess the wider impact of
our observations in confer-
ring protection against oth-
er common infections, not
just Salmonella,” said Gor-
don, who was the study’s
principal investigator.
The study adds that
the ability to manipulate
live-attenuated Salmonella
so that they express com-
ponents of other pathogens
could make their find-
ings particularly exciting
for future ‘vector vaccine’
design.
“Salmonella vector
vaccines could provide
Salmonella-specific pro-
tection, vectored-pathogen
protection and non-specific
protection, making live-
attenuated Salmonella a
hugely powerful ‘triple
threat’ tool for global vac-
cine development,” said
Gordon.
Deputy Manager (Technical)
– 117 positions
Eligibility criteria
Educational Qualification:
Candidates having a degree
in Civil Engineering from
any university/institute rec-
ognised by the
government may
apply
Salary
Manager (Tech-
nical): Those se-
lected may get
Rs. 15600-39100
as per as per 7th CPC Pay
Matrix-12 Pay Scale Band 3
Deputy Manager (Technical):
Selected candidates will get
Rs. 15600-39100 as per as
per 7th CPC Pay Matrix-11
Pay Scale Band 3
How to apply
Applicants may apply
through online mode on or
before May 8. They may ap-
ply at NHAI official website
CP Thakur appointed
as CUSB chancellor
R
ajya Sabha MP and
former union min-
ister Dr CP Thakur
has been appointed as
the chancellor of Central
University of South Bihar
(CUSB), Gaya. A notifica-
tion to this effect was is-
sued on March 1.
Thakur, who received
the prestigious Padma Shri
and BC Roy Awards, will
have tenure of five years.
He succeeds former Lok
Sabha Speaker Meira Ku-
mar, whose term ended
last year.
President Ram Nath
Kovind, in his capacity as
Visitor of the central uni-
versities, appointed him.
After Thakur’s name got the
Visitor’s nod, the depart-
ment of higher education,
ministry of human re-
source department, issued
the communique for the
35, muscle mass, strength
and function continually
decline as we get older,
according to the study
published in Biochemical
Pharmacology.
This can dramatically
limit the ability of older
adults to live fully active
and independent lives.
“There are no treat-
ments currently available
to delay, arrest or reverse
age-related muscle degen-
eration,” said Harshini
Neelakantan, a research
scientist at UTMB.
“These initial results
support the development
of an innovative drug treat-
ment that has the poten-
tial to help the elderly to
become fitter, faster and
stronger, thus enabling
them to live more active
and independent lives as
they age,” Neelakantan said.
“We identified a protein
Fun Corner
Sudoku Puzzle
       
        
        
        
        
        
        
       
        
Puzzle #: 42 Difficulty : Medium
5
www,nhai.gov.in.
Interested candidates can
apply to the post through the
online mode on or before 8
May 2019. Candidates can
refer to the official website
for more details.
In November last year, the
NHAI had invited applica-
tions for 70 posts for young
professionals (Finance). Jobs
were invited on a contractual
basis. Of above said vacan-
cies 37 were for unreserved
while 18, 10 and 05 positions
were reserved for Other Back-
ward Class (OBC), Scheduled
Castes (SCs) and Scheduled
Tribes (STs).
CUSB to notify the same.
Thakur’s name was also
promptly included in the
CUSB website.
CUSB vice chancellor,
Prof Harish Chandra Singh
Rathore, said the position
was vacant for a long time
and it was good to have to
a famed personality as the
chancellor. “He will preside
over the board meeting and
convocation,” he added.
Thakur, a famous doc-
tor, said he had all his life
remained associated with
academics and worked with
integrity. “I will try to con-
tribute whatever best I can
for the institution,” he said.
Established under the
Central Universities Act,
2009, CUSB shifted to its
new sprawling campus at
Panchanpur, approximately
12 kms away from Gaya,
last year.
in muscle stem cells that
appears to be responsible
for their age-related dys-
function, and then devel-
oped a small molecule drug
that limits the effects of
this protein,” said Stanley
Watowich, an associate
professor at UTMB.
“By resetting muscle
stem cells to a more youth-
ful state, we were able to
rejuvenate them so that
they could more effectively
repair muscle tissues,” Wa-
towich said.
In the study, aged mice
with a muscle injury were
treated with either the drug
or a placebo.
Following seven days of
drug treatment, researchers
found that the aged mice
that received the drug had
more functional muscle
stem cells that were ac-
tively repairing the injured
muscle.
Rules: To solve a Su-
doku puzzle, every digit
 from 1 to 9 must appear
in each of the nine verti-
cal columns, in each of
the nine horizontal rows
and in each of the nine
boxes.
Solution for Puzzle #42
will be in next issue.
Sudoku Puzzle 41 Answer
        
        
        
        
         
        
        
        
        
 6 IN FOCUS
GULF FAQs
I had TB, will I get UAE residence visa?
I am an Indian origin British citizen,
currently employed by a bank in London
but travel between the UAE and UK on
a regular basis for work-related matters.
I was recently approached by a major
oil and gas company in UAE and have
accepted a senior role offered by them.
I am aware that one must undergo a
medical examination at the time of
obtaining a residence visa in the UAE.
Nevertheless, I am slightly hesitant re-
garding the medical fitness test as I was
diagnosed with tuberculosis (TB) in 2003
while I was on post-graduation holiday
in Germany and treated at a private
medical hospital for over two months.
The medical expenses were borne by the
UK government as part of the EU rules.
I returned to UK later and completed
my medication before starting a full-
time employment and thereafter, never
experienced any medical issues related
to TB. Further, if I undergo medical
fitness check in Abu Dhabi, I am not
aware if the X-ray will reveal the old TB
scar. Will I get the UAE residence visa?
For the purpose of residence visa,
all matters related to the medical fit-
ness tests in the UAE fall under the
jurisdiction of Ministry of Health and
Prevention (the health ministry). Since
you were cured of TB several years ago,
you can apply for your residence visa
and, thereafter, travel to the UAE. It
would be prudent to travel to the UAE
with all your medical records duly no-
tarised and legalised from the UK, UAE
embassy in the UK followed by attesta-
tion from Ministry of Foreign Affairs &
International Co-operation in the UAE.
The same set of documents may be filed
with the health ministry if you fail in
the medical fitness test due to TB scars
from the past. You may also contact the
health ministry and the office of the
General Directorate of Residency and
Foreigners’ Affairs, Abu Dhabi, for any
further queries in this regard. Further,
your prospective employer may guide
and provide you necessary assistance in
the event TB scars are shown on the X-
rays after conducting medical fitness test.
Defamation
I am aware that there is a monetary
fine or jail term or both imposed on an
individual if he/she is found guilty by a
court in UAE of defamation published
in social media. Can an employee in
an organisation claim redressal from
his employer for defamation at the
workplace in Dubai? What should an
employee do when he has been pre-
vented from being promoted due to
defamation consistently being pointed
at him through memos and emails to
senior management of his organisation?
Pursuant to the queries, it should be
understood that defaming an individual
on social media is a criminal offence
in the UAE. This is in accordance with
Article 373 of the Federal Law No.3 of
1987 of UAE on issuance of the Penal
Code (the “Penal Law”), which states:
“Detention for a period not exceeding one
year or a fine not exceeding Dh10,000
shall be imposed upon anyone who, by
any means of publicity, disgraces the
honour or the modesty of another per-
son without attributing any particular
act to the defamed party. Detention for
a period not exceeding two years and a
fine not exceeding Dh20,000 or either
of these two penalties, shall apply if a
public official or one who is in charge
of a public service has been abused dur-
ing, because of, or while performing his
duty or public service and if the abuse
affects the honour or injures the reputa-
tion of families, or if it is noticed that it
is intended to achieve an illegal purpose.
Nevertheless, if the abuse is published
in any newspaper or printed media, it
shall be considered an aggravated case.”
Further, it should be understood that an
employer may guide, advise or ask for
explanations orally or in writing from
its employees with reference to the work
performance of its staff. Therefore, any
warning letters or memos with appro-
priate words and subject issued to the
employees may not be treated as defama-
tory letters or memos. However, if the
employer issues notices or memos with
inappropriate words containing abuse,
discrimination, personal, religious or
sexual comments, these may be treated
as defamatory words and liable for
defamation under the Penal Law and
anti-discrimination law of the UAE. If
the employee feels the letters and the
memos issued to him by the employer
are discriminatory, he is entitled to file
criminal complaint against the employer
in accordance with Article 6 of the
Federal Decree Law No. 2 of 2015 on
Combating Discrimination and Hatred,
which states: “Any person, who com-
mits any act of discrimination of any
form by any means of expression or by
any other means, shall be sentenced to
imprisonment for a period not less than
five years and by a fine not less than
Dh5 lakh and not exceeding Dh1,000,000
or either one of these two penalties.”
If an employee feels that the memos
and letters addressed to him are not
related to his work or workplace as
stipulated in Article 109 of Federal Law
No. 8 of 1980 regulating Employment
Relations in the UAE (the Employment
Law), he may approach the Ministry of
HR and Emiritisation and file a complaint
against the employer. The aforemen-
tioned Article 109 of the Employment
Law of UAE reads: “No disciplinary
penalty may be imposed on an employee
for any act committed by him outside
the workplace, unless such an act is
connected with the work, the employer
or the responsible manager. It shall also
be unlawful to impose more than one
penalty or to combine a disciplinary
penalty with a deduction of part of the
employee’s remuneration as mentioned
in Article 61 of this Law.”
Two dates of birth
I am currently working in a school in
Sharjah. My school has asked me to
retire since my date of birth on my pass-
port is 25/07/1957. However, my date of
birth on the secondary certificate (10th)
is mentioned as 21/01/1958. Can I use
my 10th class certificate as my proof
of birth year? My school has stopped
giving me my increment and allowance
since 2018 based on my age (above 60)
as per my passport. What should I do
to get compensated
Pursuant to your queries, the age fac-
tor may not be considered a criteria to
determine the increment and allowance
of an employee in the UAE. It should be
noted that the date of birth mentioned
in the passport of an individual shall be
considered for all official purposes in the
UAE and not any other dates mentioned
in other documents. Since Jan 2011, the
Ministry of HR & Emirtisation has been
accepting requests for work permits of
individuals over the age of 60 years up
to the age of 65, thereby enhancing the
retirement age from 60 to 65. As per the
prevailing provisions, for all employees
working in private sector entities regis-
tered under the federal laws of the UAE,
the retirement age is 65 years. However,
the age limit of 65 years for retirement
may be further increased considering
the individuals’ nature of work, his
credentials, expertise which is important
for the entity he is working for. Further,
granting of increment is discretion of
the employer but the company cannot
stop your other allowances from your
remuneration if these are mentioned
in your employment contract registered
with the Ministry of HR. This is in ac-
cordance with Article 60 of the Federal
Law No. 8 of 1980 regulating Employ-
ment Relations in the UAE . Based on
the aforementioned provision of law, if
your employer has deducted allowances
which are part of your employment con-
tract you may inform the school that it
is unlawful. Therefore, they should pay
you the arrears since 2018 along with
your end-of-service benefits on or before
your last working day. In the event the
employer disagrees to pay the allow-
ances, you may approach the ministry
and file a complaint.
Child’s visa
Can a husband and wife combine their
salaries to apply for the residence visa
of their child (our combined salary is
Dh6,000)?
In the UAE, the combined minimum
salary of husband and wife to sponsor
their child is Dh10,000. Such criteria
of combined salary requirements to
sponsor their child in the UAE may be
treated as special case by the General
Directorate of Residency and Foreigner’s
Affairs (GDRFA) who may consider such
application on its merit. You may con-
tact the GDRFA in the UAE for further
guidance in this.
UAE Foreign Minister Shaikh Abdulla BIn Zayed Al Nahyan, Minister of State for the Federal National Coun-
cil Anwar Gargash (centre) with External Affairs Minister Sushma Swaraj at the OIC meeting in Abu Dhabi.
Thomas Cook India expects at least
$5m boost on buying of Digiphoto
DUBAI: Thomas Cook In-
dia expects a boost of at
least $5 million to its bot-
tom line after acquiring a
51pc stake in Dubai-based
Digiphoto Entertainment
Imaging for an enterprise
value of $40.6 million , its
chief executive said.
The acquisition could
generate $5m to $8m a
year for Thomas Cook
India over three years, Ma-
hesh Iyer told a TV chan-
nel following the signing of
the agreement. The travel
company’s investment in
DEI, which has agreements
for photography in about
40 attractions in the UAE,
comes as it seeks to boost
the number of visitors from
India to the MidEast.
“DEI runs end-to-end
photography solutions for
Indian High School CEO honoured NRI arrested in rape case
DUBAI: Dr Ashok Kumar, CEO
of The Indian High School,
Dubai, was honoured with the
“Lifetime Achievement Award”
at the 2019 GESS Education
Awards in Dubai last week,
presented in association with
Taaleem. Honouring outstand-
ing achievements in the field
of education from 11 countries
around the world, including
the UAE, Finland, UK, US
and Saudi Arabia, thousands
of submissions were received
from as many as 45 countries,
making this year’s edition of
the awards the biggest to date.
An educational leader with
more than 30 years of experi-
ence in the educational sector,
Dr Kumar was recognised by
the judges as a leader with a
track record of successfully
managing various groups of
Over 10m visited Abu Dhabi in 2018
ABU DHABI: Abu Dhabi
welcomed 10.27 million in-
ternational visitors in 2018,
with the emirate also post-
ing figures showing incred-
ible growth over the last
three years, Department of
Culture and Tourism (DCT
Abu Dhabi) said .
The numbers were
boosted by the addition
of a number of events and
enhancements to all of its
specialised tourism sectors,
improvements to its infra-
structure and significant
development of its cultural
assets. DCT Abu Dhabi
said more than 10 million
visitors came to the UAE
capital last year, made up of
both day-trippers and over-
night guests, with the hotel
guests increasing by 3.94pc
compared with 2017 at one
Burj Khalifa and Ski Dubai
and we send a lot of trav-
ellers from India and the
world to o Dubai, so
we can bundle
these expe-xpe-
riences,”
I y e r
s a i d .
“ Tr a v -
el has
moved
f r o m
becom-
m-
ing a com-
modity to
being an n ex-
periencee and we
believe this will enhance
travellers’ experiences.”
DEI, established in
2004, operates in 14 coun-
tries and has more than
150 photography partner-
ships in 250 attractions,
educational institutions.
Ros Marshall, CEO, Taal-
eem, said: “Dr Kumar is an
exceptional person who came
into the region and has cer-
tainly made a difference in his
time here. He led the Indian
High School to an Outstand-
ing rating by the KHDA in
the DSIB school inspection
cycle for six consecutive years.
His commitment to improving
education both nationally and
internationally was recognised
when he was awarded a Na-
tional Award for Best Principal
in 2001, given by then Min-
ister of Education for IndiaDr
Murli Manohar Joshi. He has
also been honoured in the
UAE with the Shaikh Hamdan
Award for his distinguished
school and school administra-
tion.”
of the emirate’s 168 hotels
or hotel apartments.
The key markets of In-
dia, the US and China
have all posted double-digit
growth for hotel guests in
2018 with India and China
remaining the two top mar-
kets for overseas visitors
and UK — the top Euro-
pean source market. “We
are incredibly pleased to
see these positive metrics,
as year on year we have
exceeded the already am-
bitious targets set for Abu
Dhabi’s growth,” Moham-
mad Khalifa Al Mubarak,
Chairman at DCT Abu
Dhabi said in a statement.
“We are now firmly es-
tablished as a world-class
cultural destination. With
the emirate’s natural beauty
as a stepping off point,
Tuesday, March 05, 2019
according to its website. tor growth of 12 to 13pc
With a 3,700-strong staff, per cent over the next
it has offices in Orlan- three to five years, Iyer
do, Kuala Lumpur,
L said. “Dubai is a growing
Singapo
Singapore, Bali, market and its proximity
Hon Kong
Hong to India makes it attractive
and Mum- for short haul breaks,” he
b a i . said .The company’s ac-
T
Thomas quisition of DEI, its second
C o o k deal in the MidEast since
India 2016, will be earnings ac-
is tar- cretive immediately as DEI
geting is a profitable company
growth with earnings before inter-
in annu- est, tax, depreciation and
v
al visitors amortsation of $6.1m in
from India 2018, according to Iyer.
MidE
to MidEast and Thomas Cook India could
expects its investment in make more acquisitions
DEI to boost tourist flows. in the MidEast of travel
Thomas Cook India and travel-related compa-
flies about 25,000 visitors nies if it finds the right
from India to the MidEast opportunity at the right
every year and is targeting price but is not currently
compounded annual visi- in negotiations.
NEW DELHI: A non-resident Indian was arrested from
the IGI airport in the national capital for allegedly
raping a woman he had met on a matrimonial site
in 2017. The accused has been identified as Ravin-
der Singh, a native of Jalandhar district in Punjab.
According to the police, the woman filed a case on
March 27, 2018 stating that she came in contact with
Singh through the matrimonial website.
On Dec 12, 2017, Singh reportedly intoxicated
the victim and raped her. He later convinced her
that he would marry her soon, but instead left Delhi,
senior police officer Vijayanta Arya said. Thereafter,
the victim learnt that Singh was already married
and was living in the UK where he used to work
as a security guard, the officer said. As part of the
investigation, raids were conducted in the accused’s
village in Punjab, but he did not join the probe,
police said, adding a lookout circular was also is-
sued against him. Singh was apprehended from the
airport while he was returning from UK to visit his
family in Jalandhar.
Abu Dhabi has steadily standing with the Emirates
enhanced its touristic and Medical Association to tap
cultural proposition until into the booming sector of
today, visitors can now medical tourism.”
enjoy incredible options The first component
in entertainment — both of the ambitious Saadiyat
sporting and artistic — re- Cultural District, the first
tail, dining and hospitality, universal museum in the
as well as top class cultural region attracted more than
venues for visual and per- one million visitors in
forming arts experiences. its first year and put Abu
The soaring visitor figures Dhabi on the world’s “cul-
we have seen are evidence tural map” . The reopening
of the increase in global ap- of the Al Hosn site was also
peal of our emirate.”He also a significant event for cul-
said they looking forward in tural tourism in Abu Dhabi,
2019 to hosting the Special with the oldest building in
Olympics in Abu Dhabi. the emirate, now a museum
“We have also courted showcasing Abu Dhabi’s
cruise tourism with the history and Emirati culture,
opening of the new Mina reopening to great acclaim
Port and the Bani Yas Is- in late 2018. The cruise sec-
land beach cruise stopover. tor provided more than 3.5
We have also just signed lakh visitors to the emirate
a memorandum of under- in 2018.
 Tuesday, March 05, 2019
Startups offer more efficient healthcare: EY Future group to assist 7-Eleven’s India entry
T M
he Indian health
care system is being
reshaped by three
forces: increasing health
care demand, technological
ubiquity and rising patient
awareness, said a report
from Ernst & Young (EY).
The adoption of emerging
technologies and tools by
healthcare players, espe-
cially startups, have the
potential to offer solutions
to meet increasing demand
by improving affordability
and accessibility, added.
According to the sur-
vey, 82pc of life sciences
and healthcare startups
offer improved afford-
ability, accessibility and
efficiency in their prod-
ucts and services leverag-
ing emerging technology.
for specialised healthcare
in India.
The survey was con-
ducted among 60 life sci-
ences and healthcare start-
ups in the country. About
35pc of startups surveyed
say that taking feedback
from patients and physi-
cians was one of the most
important success factors,
followed by a focus on
product innovation, and
CORPORATE NEWS
ed adopting digital tech-
nologies include patient
engagement, physician
engagement, smart mo-
bile apps for appointment
bookings, R&D efficiency,
and supply chain manage-
ment.
“Today, in India and
globally, technological ad-
vancements are redefining
products and enabling
customisation of services
of life sciences compa-
nies’ business models,”
said Sriram Shrinivasan,
Global Emerging Markets
Health and Life Sciences
leader and National Health
Services Sector leader, EY.
42pc of the sur-
vey’s respondents feel
that receiving timely
and substantial fund-
ing will provide an
opportunity for driv-
ing further business
growth, while 38pc
feel product innova-
tion and rising mar-
ket potential due to
rising incomes, health and
technological awareness
also have a key role to play.
23 pc also pointed towards
strong government support
as a responsible factor for
7
arking its foray in the food retail landscape. Kishore Biyani, founder &
into India, Japa- We are proud to bring this Group CEO, Future Group.
nese-owned con-
venience retailer 7-Eleven
has signed a franchise agree-
ment with Kishore Biyani’s
Future Group.
The new master franchi-
see plans to build 7-Eleven
stores as well as convert
some of its existing stores
to the 7-Eleven brand, the
companies said in a joint
statement. The first store is
expected to open in 2019.
7-Eleven, which has globally trusted convenience As per the tie-up, 7-Elev-
more than 67,000 stores store to India and build en will support Future Retail
across 17 countries, said new pathways together that to implement and local-
that internationally popular will offer Indian customers ise the 7- Eleven business
products, beverages, snacks greater convenience,” said model.
and immediately consum-
able fresh foods with recipes
developed for local tastes
IOB bags EASE awards
will be part of the initial

Titled ‘Life Sciences 4.0:
Transforming Healthcare
in India’, the report said
that the rising prevalence
of lifestyle-related diseases
and an aging population
are the major factors lead-
ing to increasing demand
industrial and technical
know-how.
Indian life sciences
companies have started
taking small, experimental
steps on their 4.0 journey.
Some key areas where
these firms have start-
in the healthcare industry.
Emerging technologies for
example, robotics, block-
chain, 3D printing and
artificial intelligence and
scientific breakthroughs
such as gene editing have
led to the transformation
attaining the next level
of business growth. “Go-
ing forward, life sciences
companies must invest in
the three new capabilities:
personalization, customer
engagement and data lit-
eracy,” Shrinivasan added.
convenience offering. The
entry of 7-Eleven is expected
to modernise the small-
retail environment and bring
greater convenience to shop-
pers.
“7-Eleven is among the
most iconic global brands
I
ndian Overseas Bank (IOB) has announced that it
has won the Enhanced Access & Service Excellence
(EASE) Awards in two out of eight categories. The
award was framed as the reforms agenda for PSBs,
and covers themes such as customer responsiveness,
responsible banking, and credit offtake. IOB won the
awards under ‘reforms excellence’ and ‘deepening
financial inclusion and digitalisation’ categories.

Rubique ties up with banks, NBFCs Basic salary, special allowances must
T
he four-year-old fin-
tech start-up, which
is now focussed on
personal loans, business
loans and credit cards, sees
co-lending providing better
margins, when compared
to the revenue stream from
being a marketplace for
lending products.
“Co -lending will be
nothing but a private label
product for our platform.
While we will bring tech-
nology, data and distribu-
tion for the co-lending,
banks are giving us the
credit line. With co-lending,
we are having skin in the
game. Co-lending will also
help us cater to segments
that are not currently avail-
able,” Jeet told media per-
sons.
Jeet, who founded the
start-up, also said Rubique
would eventually move to-
wards becoming an NBFC
from the point of view of
regulatory reasons and the
need to scale up co-lending.
“We are not looking
to become an NBFC from
the perspective of build-
ing book. We may take the
NBFC licence for regulatory
reasons. We will eventually
move there if we have to
do scale up co-lending,”
he said. For co-lending,
Rubique has so far tied up
with two banks and two
NBFCs.
Rubique, which is on an
assisted online model with
10,000-plus business asso-
ciates, is looking to close
the current fiscal with loan
disbursements of
Rs 1,250 crore, revenue
of Rs 35 crore and 90,000
credit cards issued. For the
be combined to calculate PF: SC
T
next fiscal, the aim is to he Supreme Court
achieve disbursements of has ruled that em-
Rs 4,000 crore, get about ployers cannot seg-
2.1 lakh credit cards issued regate ‘special allowance’
and realise Rs 147 crore from basic wages while
revenues, Jeet added. calculating provident fund
deduction from employees
and their matching contri-
bution.
What this essentially
means is that the Employ-
ees Provident Contribution
(EPF) will be on the total
amount including all the
allowances paid to an em-
ployee and not just on the
basic salary.
“Our aim to touch more How will the ruling af-
cities and co-lending will fect the employees:
help us grow next fiscal. The impact of such a
For next two years, our decision could be two-
focus is mainly to grow – fold. One, the contribution
reach more cities, add new towards EPF will be on a
products. We are now at higher amount and hence
six cities and we want to less take-home pay for the
expand to 30 cities next employee as the allow-
fiscal,” he said. ances will also be clubbed
with the basic wages. And,
secondly, the retirement
benefit will see more in-
flows as higher monthly PF
contribution will move into
the employee’s PF account.
Currently, as per the
salary structure, the em-
ployees are supposed to
contribute the mandatory
12pc of their Basic Salary
or Wage (10pc for certain
establishments) towards
their PF. The other emolu-
ments are shown as dif-
ferent allowances such
as house rent allowance,
special allowance etc. even
though they form a part of
the total salary or cost to
the company.
Presenting a judgment
related to EPFO and certain
establishments, the Court
has ruled out that the al-
lowances in question were
essentially a part of the
basic wage camouflaged
as part of an allowance so
as to avoid deduction and
contribution accordingly to
the provident fund account
of the employees.
The Supreme Court rul-
ing is unlikely to impact
those with basic salary and
special allowances above
Rs 15000 a month.
In its judgement, the top
court said “The wage struc-
ture and the components
of the salary have been ex-
amined on
facts, both
by the au-
thority
and the
appellate
authority
under the
PF Act,
w h i c h
have arrived at a factual
conclusion that allowances
in question were essential-
ly a part of the basic wages
camouflaged as part of an
allowance so as to avoid
deduction and contribu-
tion accordingly to the PF
account of the employees”.

L&T Fin to raise upto Rs 1500-cr JSW Steel, Duferco Intl ink $ 700 m pact Hasmukh Adhia
through secured NCDs is BoB Chairman

J
SW Steel said that cements the long-term In the past, JSW and Paribas, Citibank, Credit

L T
&T Finance Limited,
the NBFC arm of
infrastructure com-
pany L&T, plans to raise
upto Rs 1500 crore by
means of secured NCDs
(Redeemable Non-Convert-
ible Debentures).
The tranche 1, which
opens on March 6 and
closes on March 20 this
year, offers various options
for subscription and the
yield on redemption of up
to 9.35 per annum.
There is also an option
of early closure or exten-
sion, the company said.
The secured NCDs pro-
posed to be issued have
been rated AAA by leading
rating agencies indicating
that the instruments with
this rating are considered
to have the highest degree
of safety regarding timely
servicing of financial obli-
gations. Such instruments
carry lowest credit risk.
The proceeds raise
through the means of
NCDs will be used for
onward lending, financ-
ing, refinancing the exist-
ing indebtedness of the
company and for general
corporate purpose, the
company said in a state-
ment.
The lead managers to
the issue are Edelweiss
Financial Services Ltd, A
K Capital Services Ltd.,
Axis Capital Ltd and Trust
Investment Advisors Pvt
Ltd.
Catalyst Trusteeship
Ltd is the Debenture Trust-
ee and Link Intime India
Pvt Ltd is the registrar to
it has inked a 5-year
advance payment and
supply agreement with
Duferco International Trad-
ing Holding for $ 700
million.
The pact executed on
27 February entails a fi-
nancing structure, which
will provide “JSW long
term funding to comple-
ment its plans for future
growth secured by com-
mitted exports of steel
products to DITH,” JSW
Steel said in a statement.
For Duferco Interna-
tional Trading Holding
(DITH) the transaction
assures a captive supply
of various steel products
from JSW over the term of
the advance payment and
supply agreement.
“The transaction further
relationship between the
two groups which have
partnered together in vari-
ous commercial ventures
during the past 15 years.
The deal is the largest
trade finance facility to
have been arranged in the
Indian steel sector,” the
statement said.
DITH have entered into
similar trade financing
arrangements on a smaller
scale but for a longer
term, all of which were
successfully executed and
completed.
The deal has been ar-
ranged and financed by
the global banks - BNP
Suisse, ING, Mashreqbank,
Natixis, Societe Generale,
Standard Chartered Bank
acting as Mandated Lead
Arrangers and Bookrun-
ners, the statement said.
“The structured long-
term trade finance transac-
tion is an important deal
in diversifying the sources
of financing for JSW Steel.
This not only enables JSW
to raise funds at competi-
tive rates but also assures
incremental volume of
sales in export markets
leveraging the widespread
global network of the DITH
Group Companies,” Sesha-
giri Rao, JMD and Group
CFO said.
JSW Steel is the flag-
ship company of the di-
versified $ 13 billion JSW
Group.
he government on
March 1, appointed
former Finance Sec-
retary Hasmukh Adhia
as the chairman of state-
owned Bank of Baroda
(BoB).
Bank of Baroda is set
to become the third largest
lender of the country after
amalgamation with Vijaya
Bank and Dena Bank ef-
fective 1 April.
The board of the bank
has already fixed March
11, 2019, as record date for
issuing and allotting equity
shares of the BoB to the
shareholders of Vijaya Bank
and Dena Bank. As per the
Scheme of Amalgamation,
shareholders of Vijaya Bank
will get 402 equity shares
of BoB for every 1,000
shares held.

Solar Energy Corp of India auctions 750 MW solar power Adani’s Jharkhand SEZ project okayed
T
he government Power (Jharkhand) Ltd has It has received formal

T
he state-owned Solar Acme has bagged 250 tum, Palimarwar and Sitara location in India. has approved a Rs sought approval for setting approval for the land in
Energy Corporation MW capacity project in won 250 MW, 40 MW and Te c h b i d s t o t a l l i n g 14,000 crore spe- up of sector specific SEZ possession of 222.68 hect-
of India (SECI) has 100 MW, re- 1,620MW were received cial economic zone (SEZ) are area and in
auctioned 750 MW of solar spectively. against the tendered capac- project of Adani Power principle approv-
power which was bagged The second ity of 750 MW by 13 com- in Jharkhand, which will al for remaining
by Acme, Fortum, Palimar- lowest tar- panies. “I am confident that export entire power gen- 202.32 hectare.
war and Sitara at a tariff of iff was of- with this addition of 250 erated to Bangladesh, an Two supercritical
Rs 2.48 per unit, a source fered by Rs MW capacity, ACME will official said. The project units of 800 MW
said. The solar tariff of Rs 2.49pc unit strive to achieve highest was approved by highest each would be set
2.48 per unit quoted in the for 360 MW. efficiency in solar power decision making body on up with an invest-
auction was close to Rs The SECI generation and strengthen SEZ – Board of Approval for power at villages – ment of Rs 14,000 crore
2.44 per unit achieved for had invited its partnership with the – chaired by the commerce Motia, Mali, Gaighat and which would include set-
the first time in May, 2017, solar ten- Govt in building a strong secretary, in its meeting on adjacent villages in Godda ting up of a water pipe-
in the auction conducted the reverse auction held ders for 750 MW capaci- nation & economy,” said February 25, the govern- district, Jharkhand over an line and power evacuation
for Bhadla solar park. on March 1, while For- ties to be executed at any an expert. ment official said. Adani area of 425 hectare. system.
 8 Travel / Entertainment Tuesday, March 05, 2019

GoAir launches Kannur-Abu Dhabi flight

A
bu Dhabi Airports
has welcomed
GoAir’s launch of
four new flights between
Kannur International Air-
port (CNN) and Abu Dha-
bi International Airport
(AUH), connecting the two
cities with flights operating
every Monday, Tuesday,
Thursday and Saturday.
GoAir’s inaugural flight
from Kannur to Abu Dhabi
was received with much
fanfare on Saturday, as
the Indian subcontinent
remains one of the most
popular destinations for
travellers departing from
Abu Dhabi. In addition,
Kannur itself is a popular
leisure and business des-
tination within the state.
Bryan Thompson, CEO,
Abu Dhabi Airports, said:
“India is a key travel mar-
ket for Abu Dhabi Interna-
tional Airport and we are
always eager to strengthen
our connectivity to the
Indian subcontinent, en-
hancing further our ser-
vices extended to our dear
customers.”
Maarten De Groof, Chief
Commercial Officer of Abu
Dhabi Airports, said: “As
one of our most promis-
ing new partners, we are
pleased to welcome GoAir’s
flights to Abu Dhabi. India
has always been one of our
largest and most important
areas of operations and
we look forward to ensur-
ing GoAir’s guests enjoy a
comfortable and efficient
experience throughout Abu
Dhabi International Air-
port, where we continue to
deploy world-class smart
travel solutions, attractive
retail offerings and relaxing
lounge spaces.”
“This additional service
to Abu Dhabi reflects the
capital’s status as a key
destination and transit
hub and forms a part of
our strategy to attract new
airlines to our network,” De
Groof added. Jeh Wadia,
Managing Director, GoAir,
said Abu Dhabi was the air-
line’s fourth international
destination after Phuket,
Male and Muscat, and 28th
destination sequentially.
“GoAir is delighted to
partner with Abu Dhabi
Airports. It is heartening
to note that both GoAir and
Abu Dhabi Airports were
established in 2006 and are Indian Personnel Export Promotion Council (IPEPCIL)’s President Abdul Rehman CH, General
celebrating 13th anniversa- Secretary Dr Sureshkumar Madhusudhanan, Ghulam Peshimam and PP Vijayan at the Kuwait
ries this year,” he said. National Day function in Mumbai.

‘Rasbhari’ to compete Environmentalists flay

at Film Fest in France
A
ctress Swara Bhask-
er’s “Rasbhari” will
be competing at the
Series Mania International
Festival in France.
Produced by Tanveer
Bookwala, the Applause
Entertainment’s coming-
of-age series will also be
showcased at the festival,
which will be held from
March 22 to 30. It is being
claimed that “Rasbhari” is
the first Indian series to be
selected for the Short Forms
Competition at the fest.
“The artiste in me was
thrilled to be a part of a
unique narrative like Rasb-
hari and I’m now beyond
thrilled to know that our se-
ries has been selected for the
prestigious Series Mania In-
ternational Festival,” Swara
Bhasker told a TV channel.
Produced and co-created
for Applause by Tanveer
Bookwala, written by Shan-
tanu Shrivastava and direct-
ed by Nikhil Nagesh Bhatt,
Rasbhari tells a love story set
in Meerut. Swara plays the
role of a stern English teacher
who is the object of attraction
for Nand (Ayushmaan Sax-
ena). The show also features
Rashmi Agdekar, Pradyuman
Singh, Neelu Kohli and Chi-
Swara Bhasker
tranjan Tripathi and the title
music has been composed by
Chirantan Bhatt.
“We are delighted to rep-
resent India at the esteemed
festival. Good content has a
global resonance and our se-
lection into the much sought
after Series Mania Competi-
tion is a strong validation
of this belief. Working in
close collaboration with
team Applause, Tanveer,
Shantanu and Nikhil have
created a sparkling gem of
storytelling, which is now
finding an audience across
borders and continents. We
are excited to showcase this
labour of love at the festival
and are looking forward to
stream it soon for viewers
all over the world,” said Sa-
meer Nair, CEO of Applause
Entertainment.
Singapore’s eco-tourism
S
ingapore is creating a
vast eco-tourism zone
in a bid to bring in
more visitors, but environ-
mentalists fear the develop-
ment will damage natural
habitats and are already
blaming it for a series of
animal deaths.
While it may be best
known as a financial hub
with scores of high-rise
buildings, tropical Singa-
pore is still home to patches
of rainforest and an array of
wildlife, from monkeys to
pangolins — also known as
scaly anteaters.
In one green corner of the
city sits a zoo and two sister
attractions — a night safari
and river safari — that have
long been big draws for for-
eign and local visitors. Now
jungle is being cleared in the
same area to make way for a
bird park, a rainforest park
and a 400-room resort, to
create a green tourism hub
it is hoped will eventually
attract millions of visitors
a year.
But the project in the
Mandai district has ruffled
the feathers of environmen-
talists. They believe that
rather than promote biodi-
versity, it is too imposing for
the area, will destroy forest
habitats and they say insuf-
ficient safeguards were put
in place before work began
— leading to animals being
killed on roads.
The row has highlighted
concerns about rapid de-
velopment in space-starved
Singapore and worries that
some of the country’s more
wild and green corners are
being lost only to be re-
placed with something more
artificial. “I think you are
getting your priorities wrong
if you are replacing natural
heritage with captive breed-
ing,” Subaraj Rajathurai, a
veteran wildlife consultant,
said.
With the new develop-
ment, it appears that “mak-
ing money was more of a
priority than finding the bal-
ance and preserving biodi-
versity”, he added. But Man-
dai Park Holdings, which
is overseeing the project
through its development
arm, insists work is being
carried out sensitively and
will bring improvements.
The district, which sits next
to a protected nature reserve
and has been earmarked
for development for years,
is mostly abandoned vil-
lages and farmland that
have been swallowed by the
surrounding
jungle. Work
is already well
under way in
an area that is
home to ani-
mals including
flying lemurs
and deer, with
construction
cranes loom-
ing over hillsides stripped
bare of jungle. A major fo-
cus of concern has been the
animal deaths on the main
road leading up to the zoo
as forest is cleared.
Several deer, a critically
endangered pangolin and a
leopard cat are among animals
to have perished after straying
in front of vehicles, according
to environmentalists.

San Francisco’s Golden Bridge beckons you!

S
an Francisco is indubi-
tably one of the most
modern cities in the
world with several world
famous corporations main-
taining a presence and Sili-
con Valley located nearby,
yet this metropolis quaintly
opts for old-fashioned pub-
lic transport in the form of
cable cars and streetcars.
San Francisco is a coastal
megacity yet at times it can
feel like a foggy hill station
full of picturesque views. A
city built on several undu-
lating hills, San Francisco
offers amazing vistas almost
everywhere you turn. A
cable car drops people off at
the top of a hill from which
one can see Lombard street
running perpendicularly, far
into the distance.
San Francisco is one of
the richest cities in the world
Golden Bridge
yet on almost every down-
town street corner, one can
see several homeless people
and panhandlers, their mea-
gre belongings packed into
supermarket carts. The Gate Park is bigger than New to the north of San Francisco with its treasure trove of
city’s salubrious climate York City’s huge Central is a sprawling expanse of Coastal Redwoods, the tall-
and liberal attitude is Park. Even better: just 20 km forest called Muir Woods, est type of tree in the world.
why they seek refuge
here. But it is a tragic
irony to see an ageing, Rights of air passengers released
C
homeless person right ivil Aviation Minister refund money that will be senger would not be liable
across the street from the Suresh Prabhu has given to passenger in case to hold airline for compen-
headquarters of Twitter! released the passen- of cancellation, the charter sation if he or she is given
Despite being a densely ger charter which specifies states. If any passenger is an alternate flight within
packed urban area, this bus- rights of air travellers. It denied boarding due to over one hour of original flight’s
tling metropolis has several states that if a domestic booking of a flight, the pas- departure, it states.
green oases. The Golden flight is expected to be de-

Saudi Arabia to turn

layed by over six hours,
then the airline would of-
fer an option of “alternate
flight” to the passenger Subscription Form
major tourist attraction
within that time or it will
refund the full amount. Name .................................................
It also said that if a pas-
Address .............................................

T
senger is informed of flight
ourists will be offered ment Authority, said earlier ing billions of dollars in number of foreign visitors as
special “event” visas to this year that infrastructure sports and entertainment well as encourage domestic
cancellation less than two ..........................................................
weeks before departure, ..........................................................
visit Saudi Arabia as investments in the next de- as it seeks to reform and di- tourism and create jobs for
the airline must offer an
part of plans by the Kingdom ..........................................................
alternate flight to passenger
to become a major global en-
or refund the ticket com- Pin Code ............. Mob.: ...................
tertainment destination. The
pletely. At the time of book-
new one-off visas will allow Email ................................................
ing, the airline must clearly
foreign visitors to choose
from the growing number of
“indicate” the amount of Draft No. .............. Amount ...............
sporting, entertainment and Bank .................... Branch ................
business attractions available
in the country. EXCHANGE RATES Duration Issues By Post By Courier
Announcing the new visa As on 04th
March, 2019 (In rupees) 6 Months 52 375/- 1000/-
category, the Saudi cabinet Currency Buying Selling 1 year 104 700/- 1500/-
said embassies and consul- Australian Dollar 48.95 51.45
ates would be able to issue
Bahraini Dinar 183.55 193.55 Date ................. Signature .................
the visas within 24 hours of
British Pound 92.35 95.35 Demand Draft to be drawn in favour of “IPEPCIL
receiving a request. Under
Canadian Dollar 52.05 54.55 Publications pvt ltd.” payable at Mumbai.
the visa upgrade, the King- Money Order to be sent to: IPEPCIL Publica-
Emirati Dirham 18.80 19.80
dom’s General Investment tions (This subscription form should be filled in
Euro 78.90 81.90
Authority, General Sports and posted along with M.O details)
Kuwaiti Dinar 228.3 238.3
Authority and General En-
Omani Rial 179.35 189.35
tertainment Authority will
Qatari Riyal 19.00 20.00
provide the foreign affairs PUBLICATIO NS PVT. LTD.
King Abdulaziz Camel Festival is being held in Saudi Arabia. Saudi Riyal 18.40 19.40
ministry and state security
Singapore Dollar 51.10 53.60 9010, 9th Floor, Ozone Biz Centre,
with details of events at least cade would reach SR240 bil- versify its economy, part of young Saudis. Formula E-
two months beforehand. The lion ($64 billion) and would a wide-ranging Vision 2030 motor racing, WWE wres-
Swiss Franc 69.30 72.30 Mumbai Central (E), Mumbai - 400008.
details will then be included contribute SR18 billion to the programme introduced by tling and world title boxing
US Dollar 69.90 71.90 Mob.: 8898261303, 9730073400
in the visa system. country’s economy and gen- Crown Prince Mohammed events have also been added without notice. Errors &
Rates are subect to change Source: Email: circulation@newsandnri.com
Turki Al-Sheikh, chair- erate 2.24 lakh jobs by 2030. bin Salman. The Kingdom to the country’s sporting cal- omissions excepted Phone: 022 - 23001102 / 23001103.
man of the General Entertain- Saudi Arabia is invest- is hoping to increase the endar in the past 12 months.
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10th Floor, Navjivan Commercial Premises Co-op. Society Ltd., Lamington Road, (Dr.D.B.Marg), Mumbai Central, Mumbai - 400 008. • Editor: E.L. Vaidyanathan • Volume No.: 1, Issue No. 42 • RNI No. MAHENG/2018/76663.