News - Issue 9 October 1, 2007

• Banglore based Sobha Developers; known for their quality constructions, has launched an advanced integrated township project named Sobha City in Thrissur. (Details in Investment Section Page 3)
  
• Reserve Bank of India (RBI), enhanced personal Liberalized Remittance Scheme from current 1,00,000 US Dollars to 2,00,000 USD. RBI is continuously liberalizing outflow of foreign currency to protect Dollar from further appreciating.
  
• A project worth Rs 1000 Crore for establishing a satellite city and an industrial park in Kozhikode is being promoted by Kerala Government and Malaysian Government.
  
• From August 20th onwards the Dubai Naturalization and Residency Department (DNRD) has implemented a new rule for issuance of visas, which would make it mandatory for the applicants to provide their photographs. The new move is meant to prevent manipulation or tampering of the document.
  
• Following the amnesty declared by the U.A.E. Government, the stipulated time within which amnesty seekers are required to leave the country has been extended to the 3rd of November, 2007 for those amnesty seekers, who have completed the emigration procedures.
  
• The six-month amnesty announced by the Government of Bahrain for foreign workers staying illegally in that country has begun on September 1.
  
• To reduce the delay for passport applicants, the State Government has decided to shift the police verification for passports from the Special Branch wing of the Kerala Police to Sub Inspectors of the police stations.