Fresh News

·         NRI police stations were launched at as many as six places across Punjab state in India.

 

·         Commuters in Kerala will by next month be able to track any of the 30000 private buses that ply on the state roads thru SMS/Internet thanks to a tie up of Private Bus Association with a

 

·         INDIAN job seekers have been advised in Kerala by Bahrain government not to fall into the trap of unscrupulous recruiting agents.

 

·         India and Bahrain will sign a labour agreement in June to facilitate labour mobility and manpower development, a ministry of overseas Indian affairs (MOIA) official said.

 

·         The Australian government has made changes to its visa system so Indian students studying there will automatically be eligible to work part time during their courses.

 

·         Owners of India restaurants in UK are struggling to deliver orders because of an acute staff shortage which is the result of the new immigration rules that prevents them from recruiting chefs from India.

 

·         British Columbia premier Gordon Campbell is likely to announce India Gate in Vancouver, Canada.The Gate is to be built in the city's Punjabi Market at a cost of C$3 million and is expected to be ready in time for the Winter Olympics in the city in 2010.

 

·         Reserve Bank of India governor Y V Reddy speaking at a World Leaders' Forum at Columbia University New York, stated that the annual contribution by way of remittances by NRIs is about three percent of the GDP. These are in addition to the export of services particularly software which is of the same order.

 

·         Qatar Airways announced plans to operate scheduled flights to Kozhikode in Kerala from June 15, 2008.Dubai-based Emirates Airline yesterday announced operation to Calicut airport in north Kerala from July 1.RAK Airways, fourth national airline of the United Arab Emirates (UAE), started daily direct flights from the Karipur airport (Calicut airport) to Ras Al Khaimah in the UAE from April 23.

 

·         Chief Minister V S Achuthanandan will lay the foundation stone of an eight-storeyed shopping complex on the KSRTC premises in Angamaly.The Kerala Transport Development Financial Corporation (KTDFC) will construct the shopping complex under the BOT system spending around Rs 30 crore.

 

·         The Kerala government banned the use of all varieties of plastic materials below 50 microns in thickness in the state effective from 21st of April 2008.

 

·         Kerala Tourism Minister K.C.Venugopal informed the state assembly that Kovalam, Munnar, Kumarakom and Fort Kochi have been declared as special tourist zones under the Kerala Tourism (Conservation and Preservation of Areas) Bill, 2005.

Email Fraud - Benazir Bhutto

Another innovative email fraud. This time the fraudster did not know that Bhutto family is back in power in Pakistan.

 

Dear Sir/Ma

 

My name is Bilawal Bhutto the son of Benazir Bhutto who was mudered in Pakistan by the present Pakistan Government on Thursday, 27 December 2007, Ms Bhutto was leaving a rally of her Pakistan People's Party (PPP) supporters in a park in the garrison town of Rawalpindi when attackers opened fire. Then a bomb was set off by the same attacker which left my mother dead and some 20 other people. You can find details of the killing of my mother on these website below:-

 

http://news.bbc.co.uk/2/hi/south_asia/6653475.stm

http://news.bbc.co.uk/2/hi/south_asia/2228796.stm

http://news.bbc.co.uk/2/hi/south_asia/7165892.stm

http://www.time.com/time/world/article/0,8599,1699006,00.html

 

Life has become unbearable since she was shot dead. Since then, my family and I have been Living with shock and uncertainties, the Government of Musharaff has made life difficult for us by ensuring that we are not disposed to our finances and other properties that is owned by my mother and this has made life difficult for us. Just before my mother died she called my attention to the money she deposited in foreign account and charged me to look for a foreigner who would assist me in the retrieving of the funds abroad which she wanted to use for the election, So l would be very grateful if you could accept to help me archieve this great objective.

 

For now, let all our communication be by e-mail because my line are right now connected to the Pakistan Telecommunication Network services. I will give you details after I have  received a response from you. Please contact me through my private email address:- bilawalbhutt02@yahoo.it

 

Thank you very much.

 

Bilawal Bhutto

Fun - Thank You Lord

An atheist was taking a walk through the woods, admiring all that evolution had created.

 

"What majestic trees! What powerful rivers! What beautiful animals!", he said to himself. As he was walking along the river, he heard a rustling in the bushes behind him. When he turned to see what the cause was, he saw a 7-foot grizzly charging right towards him. He ran as fast as he could. He looked over his shoulder and saw that the bear was closing in, He ran even faster, crying in fear. He looked over his shoulder again, and the bear was even closer. His heart was pounding and he tried to run even faster. He tripped and fell on the ground. He rolled over to pick himself up, but saw the bear right on top of him, reaching for him with his left paw and raising his right paw to strike him.

 

At that moment, the Atheist cried out "Oh my God!...." Time stopped. The bear froze. The forest was silent. Even the river stopped moving.

 

As a bright light shone upon the man, a voice came out of the sky, "You deny my existence for all of these years; teach others I don’t exist; and even credit creation to a cosmic accident. Do you expect me to help you out of this predicament? Am I to count you as a believer?"

 

The atheist looked directly into the light "It would be hypocritical of me to suddenly ask You to treat me as Believer now, but perhaps could you make the bear a Believer?"

 

"Very well," said the voice.

 

The light went out. The river ran again. And the sounds of the forest resumed.

 

And then the bear dropped his right paw..... brought both paws together...bowed his head and spoke: "Lord, for this food which I am about to receive, I am truly thankful."

Email Banking Frauds - 12 MILLION DOLLARS ATM CARD

Example of another variant of Email fraud. The fraudster is asking for insurance money and promising to send 12 million dollar thru card -

 

From: atmatm12@terra.es [mailto:atmatm12@terra.es]
Sent: 21 April 2008 04:38
Subject: 12 MILLION DOLLARS ATM CARD

 

FROM THE DESK OF REV. PETER ADAMS
DIRECTOR,INTERNATIONAL REMITTANCE
FOREIGN OPERATIONS DEPT,
OCEANIC BANK INTERNATIONAL PLC,
LONDON UK
PRIVATE EMAIL ADDRESS = atm_depertment@yahoo.com

Attention

We hereby officially notifying you about the present arrangement to pay you, your over due contract/inheritance fund through (ATM Visa Express Credit Card) This arrangement was initiated/constituted by the World Bank and Paris Club, because of your due contract/inheritance payment.

The World Bank and Paris Club introduced this payment arrangement as to enable our contractors/inheritance beneficiary to receive their fund without any interference. The ATM Visa Express Credit Card was contracted and powered by GOLD CARD WORLD WIDE.

To this end, you are required to forward your payment information's as follows to enable us load your fund into the card with your information and deliver it to your door step. As the TNT COURIER SHIPPING COMPANY are in charge of the delivery services to your destination.

You are required to fill your information below here.

1) YOUR FULL NAME =
2) YOUR AGE =
3) YOUR SEX =
4) YOUR OCCUPATION =
5) YOUR RECEIVING ADDRESS =
6) NAME OF YOUR COUNTRY =
7 )YOUR TELEPHONE NUMBER =

NOTE = The amount in question here to load in to the ATM VISA EXPRESS CREDIT CARD IS 12 Million United State Dollars only.

Upon the receipt of your mail we are going to load your fund into the ATM Visa Express Credit Card and send a picture of the card to you before we will proceed to dispatch the card through TNT COURIER SHIPPING COMPANY to you. You are only going to take care of the insurance coverage fee while we take care of your delivery fee.

We are waiting for your immediate response through our private email address here  atm_depertment@yahoo.com
 
CONGRATULATIONS IN ADVANCE.
 
BEST REGARDS,
REV. PETER ADAMS
DIRECTOR, INTERNATIONAL REMITTANCE 
FOREIGN OPERATIONS DEPT,
OCEANIC BANK INTERNATIONAL PLC,
LONDON UK

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Horror Story

This story happened a while ago in Dublin , and even though it sounds like an Alfred Hitchcock tale, its true. John Bradford, a Dublin University student, was on the side of the road  hitchhiking on a very dark night and in the midst of a storm. The night was rolling on and no car went by. The storm was so strong he could hardly see a few feet ahead of him. 

Suddenly, he saw a car slowly coming towards him and it stopped. John, desperate for shelter and without  thinking about it, got into the car and closed the door.. only to realise there was nobody behind the wheel and the engine wasn't on!!The car started moving slowly. John looked at the road ahead and saw curve approaching. Scared, he started to pray, begging for his life. Then, just before the car hit the curve, a hand appeared through the  window and turned the wheel. John, paralysed with terror, watched as the hand repeatedly came through the window, but never touched or harmed him.

Shortly thereafter John saw the lights of a pub appear down the road, so,  gathering strength, he jumped out of the car and ran to it. Wet  and out of breath, he rushed inside and started telling everybody about the horrible experience he had just had. A silence enveloped the pub when everybody realised he was crying  and....wasn't drunk. 

Suddenly, the door opened, and two other people walked in from the  stormy night. They, like John, were also soaked and out of breath. Looking around, and seeing John Bradford sobbing at the bar, one said to  the other... 'Look Paddy.....there's that idiot that got in the car while we were pushing it!!!!'

Fresh News

Tribals of Periyar Tiger Reserve in Kerala have struck a deal with German co-operative Ecoland Herbs and Spices to export the organic pepper.

 

The board of directors of the proposed Rs.15-billion Smart City project in Kerala decided that the work will start in October.

 

The Gandhi Legacy Month began at Union Square Manhattan to remember Mahatma Gandhi's message of non violence, peace and brotherhood.

 

Highly skilled persons and professionals wanting to migrate to the UK will have to apply for a visa under a new points based system that is now in force in India.The new system is expected to make the visa process easier for legitimate travellers and tougher for those intending to cheat the system.

 

India's booming economy has triggered a flood of inquiries from NRIs hunting for high growth jobs back home in India. Infrastructure, retail, capital markets and insurance are the sectors most sought after.

 

Some 100 Indian workers marched hundreds of miles from Mississippi to Washington to protest their slave like treatment in order to meet Indian envoy Ronen Sen and ask for a CBI probe into alleged human trafficking by recruiters and plead for steps to prevent abuse of workers under the H2B visa programme.

 

Indian doctors with post grad medical degrees from the UK, US, Canada, Australia and New Zealand can now practise in India in any public or private hospital. They can also be a faculty member in any medical college and teach under grad students.

 

US Authorities have issued a new rule prohibiting employers from filing more than one petition for a single employee in a fiscal year.Citizenship and Immigration Services known as the USCIS announced the rule that ensures companies filing H-1B petitions that are subject to numerical limits have equal chance to receive consideration for an H-1B worker with the current cap on new visas in the category at 65,000 per fiscal with a few exceptions.

 

Some 5.7 million Indians abroad sent back US$27 billion in 2007, making India the leading receiver of migrant remittances according to World Bank data.Workers from China($25.7 b), Mexico($25 b), the Philippines($17 b) and France(12.5 b) made up the rest of the top five.

 

The British government's plans that are afoot recommend the phasing out of the rights to vote now enjoyed by Indians and other Commonwealth citizens. The move is part of Prime Minister Gordon Brown's initiatives to boost 'Britishness' in the 21st century. The plans come from a review conducted by Lord Goldsmith, Britain's former attorney general.

 

An NRI doctor who recorded his statement from America through video conferencing with the Delhi court for the first time in history, has opened up the possibility for others like him who are unable to go to India to attend legal proceedings.The Sessions Court recorded the doctor's statements from New Jersey USA over the VC in a case related to his divorce petition and legal wrangle with his estranged wife over the custody of their daughters.

 

Businessman Amrit Patel president of the India Cultural Society in Milwaukee, Wisconsin complained that the Chicago mission has been illegally issuing passports to Indian nationals who sought political asylum in the US, and has been taking bribes of $3000 to 3500 for supporting documents and manufactured passports given to them.

 

India is rated as the sixth most popular country in the US while Pakistan and China are placed among the 10 most unpopular countries in a recent survey conducted by Gallup.

 

Fourteen Indian doctors who resigned from the Ministry of Health because of the lack of promotion opportunities and unsatisfactory wages, have been told they will have to forego their end of service benefits as their academic degrees have not been evaluated by the concerned Indian universities, and called illegals, given the non validation of their degrees.

 

Professor David Crystal one of the world's foremost experts and author of the Cambridge Encyclopedia of the English Language has stated that there are more people speaking English in India than the rest of the native English speaking world. He raises the example of the call centres often answered by Indian voices and the impending economic growth of the country whose influence will touch the usage of Indian English.

 

Over 1000 magicians from across the country and abroad will participate at a four-day magic festival in Trivandrum from May 1.

 

Kerala has hoisted the ceremonial flag, known as 'Kodiyettam', to mark the beginning of the 'Thissur Pooram'.

 

Kannapuram panchayat in Kannur district dared to think differently, and has bagged a Kerala State Film Award. 'Kaliyorukkam' which won the award for the best children's film for 2007 was their project.

Indians Reconsidering Plans to Work in UAE

Increasing opportunities in India and the rising inflation in the UAE have made a number of Indians reconsider plans to leave home and work here, according to an official of a London-based money-transfer networks association.

Lady Olga Maitland, chief executive of the International Association of Money Transfer Networks (IAMTN), said that India, which received Dh99.2 billion ($27 billion) worth of remittances last year, led the list of countries receiving money from citizens abroad.

"India may lead as a recipient country for remittances, but indicators are showing that there is a flattening off of migrants coming to the UAE," she stressed. "In time other countries will fill the gap while Abu Dhabi and Dubai continue to expand."

In a statement, IAMTN said that global remittances rose seven per cent to Dh1.2 trillion ($318 billion) worth of recorded transactions last year. It quoted the report -Economic Implications of Remittances and Migration 2008 - as saying that the amount would balloon to Dh2.2 trillion ($600 billion) if remittances sent through informal channels were included.

IAMTN has organised the Money Transfers Conference Dubai 2008, on April 28, to address issues affecting the remittance business. The use of technology in money transfers and the added value to customers who remit through retail banks, among other things, will be discussed during the one-day conference.

With a 20-per cent growth per annum, the remittance business facilitated the transfer of Dh110.2 billion ($30 billion) from the UAE last year. The World Bank has said that 10 million expatriates in the Gulf region sent home Dh264.4 billion ($72 billion) in 2007.

Abdulrahim Al Awadi, assistant executive director for Anti-Money Laundering and Suspicious Cases Unit at the UAE Central Bank, will deliver the keynote address at the conference while Dilip Ratha, a senior economist at the World Bank, will be sharing his expertise on migration and remittance issues.

Officials of the different foreign exchange centres in the UAE are also set to address the conference.

Fresh News

Emerging markets India, China, Brazil and Russia will transform global businesses and have a greater influence on the world by 2018. Such are the findings by UK based Chartered Management Institute in their predictions of what the world of business management will be and how organisations should prepare for the times ahead.

 

Parvathy Omanakuttam, a 20-year-old from Kerala, was crowned as the Pantaloon Femina Miss World 2008 at a glittering ceremony in Delhi.

 

In Kerala, tea plantations will be exempted from plantation tax for 2007-08. Chief Minister VS Achuthanandan told.

 

Software giant Microsoft and veteran Malayalam superstar Mammootty are planning to launch an e-literacy programme in Kerala.

 

More than 25000 people attended a public reception in honour of Bahrain-based Indian business icon Dr Ravi Pillai, held in Thevalakkara, Kerala.

 

In a drumming marathon that went on for five days, noted tabla artiste Sudheer Kadalundi has played the instrument for 103 hours in Calicut.

 

An outbreak of chikungunya in Kerala in the last two years is mainly due to climate change, the World Health Organisation (WHO) said.

The falling dollar and remittances

The currencies of many countries have appreciated against the US dollar in recent years. The impact of the dollar depreciation on remittance flows to developing countries has emerged as a serious subject of study amongst economists and policy analysts. In particular, the impact of remittance flows for the Philippines, Mexico and India, the three countries among the largest remittance-recipients, is of immediate concern for economists and policy planners.

 

Remittance flows to the Philippines increased nearly by 50% between 2004 and 2007. However, a large part of this increase has been simply to preserve the purchasing power of recipients, since the Philippines Peso appreciated by 33% against the US dollar and the country has experienced domestic inflation during this period. Similarly, while remittances to India and Mexico increased by 44% and 38% respectively, the rupee appreciated by 15% and the Mexican Peso held firm against the dollar.

 

The World Bank’s recent publication Migration and remittances, Factbook 2008 has come out with some interesting findings. Rising cost of living is further eroding the purchasing power of remittances received by these countries. The cumulative consumer price index (CPI) inflation in these countries during this period has continuously shown an upward curve. Furthermore, the international prices of oil and food grains, measured in current US dollars, have been rising at alarming rates.

 

The price of crude oil nearly tripled from $31 per barrel in January 2004 to $90 per barrel by the end of 2007 and has since crossed $100 mark in 2008, while international prices of maize and rice increased by 56% and 70% respectively during this period. These increases are largely due to global economic factors that are largely outside the control of policymakers in the remittance-recipient developing countries.

 

According to World Bank estimate, among the top 10 remittance recipients, India is the top receiver of remittances from abroad in 2007 with $27 billion, followed by China ($25.7 billion), Mexico ($25 billion), the Philippines ($17 billion), France ($12.5 billion), Spain ($8.9 billion), Belgium ($7.2 billion), Germany ($7 billion), UN ($7 billion, and Romania ($6.8 billion).

 

Using the average annual exchange rates of local currencies against the US dollar and the consumer price index for the three developing countries — India, Mexico and the Philippines — the World Bank estimates how much remittances have increased relative to 2004 after accounting for the appreciation of domestic currencies and inflation.

 

Remittances in current US dollars and in domestic purchasing power terms are defined as the sum of workers’ remittances, compensation of employees, and migrant transfers. The appreciation of a currency relative to the US dollar is calculated as the percentage change in the US dollar value per local currency unit.

 

In the Philippines, while remittance increased by nearly 50% in nominal dollar terms between 2004 and 2007, they increased by 22% after accounting for the appreciation of the Philippines Peso. After adjusting for domestic inflation, they increased by only 3% in this period.

 

In India, which had a similar increase in prices during this three-year period but a relatively smaller appreciation against the US dollar compared to the Philippines, remittances increased by 44% in nominal dollars, by 32% after accounting for the appreciation of the rupee, and by 13% after accounting also for inflation.

Indian passport , visa services outsourced

The Indian consulate and embassy in the UAE will soon outsource passport and visa services and 12 dedicated centres will be set up to receive these applications.

Indian Ambassador to the UAE, Talmiz Ahmad, told reporters at a press conference on April 6, after signing a MOU with Empost, that this step was aimed at reducing inconveniences to applicants.

Ahmad said the proposed collection centres to be set up by Empost across the UAE in the next two months will significantly reduce the inconvenience caused to the public who at present face heavy crowds at the two offices and can seek services only during specific hours on working days.  'The new arrangements will enable the public to submit applications at several centres across the country, before and after their office hours as well as on weekends,' he remarked.

The two missions together annually provide around two hundred thousand passport services and 63,000 visas in the UAE.  Official statistics reveal that over 4000 people visit the embassy and the consulate every day to seek these services which include renewal and applying of passports, visas to India.

Fresh News

Private buses in Kerala will soon be tracked through global positioning system (GPS) and passengers will get various information.

 

The Rice Exporters Association of Kerala office bearers will meet some central ministers in Delhi Wednesday to appeal against the ban on export of non-Basmati rice.

 

Old and sick elephants can expect to lead a chain-free life in Kerala with the state government deciding to set up orphanage for elephants.

Fun

A chemist walks into a pharmacy and asks the pharmacist, "Do you have any acetylsalicylic acid?"

 

"You mean aspirin?" asked the pharmacist.

 

"That's it, I can never remember that word."

Etisalat gears up to offer mobile remittance services

Etisalat is poised to start offering mobile remittance services in June this year, a move that promises to help millions of expatriates send money in seconds instead of queueing at the exchange houses every month.

 

etisalat officials on Tuesday said it has started the mobile remittance pilot project to India in partnership with mashreq, Tata Communications, Idea Cellular and HSBC India.

 

It expects 350,000 users to avail the services next three years. Nearly 80 per cent of the UAE's more than five million population are expatriates, the majority of whom remit money regularly.

 

Formal remittance flow in 2005 crossed $7 billion (Dh25 billion), making the UAE the second-largest remittance source in the Gulf after Saudi Arabia.

The company emphasised on micro transactions, which usually take place through unofficial channels. "Mobile money transfer will be a viable service for low-value transactions," said Abdullah Hashim, vice-president, marketing, enterprise solutions, etisalat. "This service is modelled over existing remittance flows," he added.

 

Registered users of the mobile money transfer service will be able to access it abroad through etisalat roaming service.

 

Officials, however, could not give any indication of the cost of this services. Electronic remittance service charges starts from Dh3 onwards.

 

The company said on Tuesday that it has no plans to compete with money exchanges but rather will complement them. In addition, the company intends to partner with such organisations in the future.

 

The new service designed to be cost-effective, convenient and secure will have low transaction costs. The pilot project will allow for feedback to develop the service features and pricing.

 

"In the current phase, selected participants of the pilot project will be able to transfer funds to over 40,000 bank branches in India," said Hashim.

 

etisalat is working closely with leading banks, financial institutions and telecom operators in other countries to offer a comprehensive network of partners for the service. It is expected that etisalat customers in the UAE will have the first opportunity to use this service to send money to various countries including India, Pakistan, Bangladesh, Philippines Egypt, Jordan, Sri-Lanka, and Nepal.

 

Extension

 

The telecom operator plans to extend the service three more countries by the end of the year. In addition, the company is in the process of launching mobile banking, parking, ticketing, government payments and purchases in the UAE.

 

A mobile wallet (mwallet) will be provided when users register with the mobile money transfer service. The mwallet will act like a traditional wallet.

 

"The service enables to add value [credit] in the mwallet which can then be used for remittance," said Amol Natu, manager, product marketing ebusiness. The company said yesterday that it is also working on salary transfer option based on mobile wallet offering.

Fresh News

This is a good time for long term investors to invest thru Mutual Funds. Stock valuations are attractive and long term (3-5 years) investors can opt for investing thru SIP (Systematic investment Plan). SIP reduces risk of market fluctuation. SBI branches are selling Mutual Fund schemes of SBI Mutual Fund and a few other reputed mutual fund schemes. Please contact your nearest SBI branch or us for details.

 

World rubber consumption is forecast to increase 4.0 percent annually upto 2011 according to a research.

 

Kerala is in the process of developing a new boat jetty complex in Ernakulam.

 

Here is a useful link for calculation of Stamp and fee for property registration - please click this http://keralasrealestate.blogspot.com/2008/03/cost-of-stamp-paper-and-fees-property.html

 

Another interesting article on Real Estate Facts for Kochi at following link - http://resmijaimon-writes.blogspot.com/2008/02/over-100-apartment-villa-projects-are.html

 

Government banned coconut export from India except from Kochi port.

 

Falling production costs of synthetic rubber is expected to drive down the prices of natural rubber in the coming days. Natural rubber futures fell in Tokyo for a second day as crude oil prices dropped in New York.

 

In an effort to ease the threat of an economic turmoil stirred up by the subprime lending crisis, the US govt is considering giving sweeping new oversight powers to the Fed.

India bans all rice exports

India, the largest rice supplier to the Gulf, yesterday imposed a ban on rice exports, a move which is feared to stoke food inflation and make the commodity scarcer in the UAE and rest of the region.

Yesterday's total ban on all types of non-basmati rice, including the popular Palakadan Matta and Thanjavoor Ponni, is part of an effort by India to control inflationary pressures on food items and essential commodities. Besides a rice export ban, India, after an emergency cabinet meeting on Monday night, has reduced import duties of edible oils.

But the dramatic measure has caught UAE's rice distributors and retailers unawares as the rice stocks available would not last for more than seven days. India accounts for more than 50 per cent of UAE's rice imports. Indian rice export to the UAE is around 120,000 metric tonnes per month.

"There is going to be an acute shortage of rice supply and also a sharp price rise. Aggravating the supply shortfall from India is a slowdown in exports from Pakistan and Thailand," said Anish K S, Brand Manager of Nirapara, a leading distributor. The price of US-style Thailand rice has almost surged by more than 70 per cent, from Dh40  to Dh70  per 20 kilo bag following the news of Indian export curbs.

Food inflation in the UAE, where the core inflation is estimated to be hovering above 10 per cent,  has been on an upward spiral over the past 12 months, partly due to a sharp plunge in the value of dollar to which the UAE currency is pegged. Experts said the move to ban rice exports could have an impact not only in Gulf  but also on global rice prices as India is the third largest exporter of the grain, exporting about four million tonnes annually.

The Indian government  also set the minimum export price of India’s premium rice, Basmati, at $1,200 tonne and also extended the ban on export of all pulses for another year.

To combat food inflation, India has been imposing certain restrictions  over the past six months on rice exports by increasing the export price of non-basmati rice to combat food inflation. The price of such rice was increased from $650-$1,000 per tonne last month alone. The move had impacted the prices in the UAE with the price of basmati rice increasing almost three-fold from Dh3.50 per kilo to Dh9-10 in six months.