An ancient city excavated on Kerala's Malabar coast had trade links with many key centres around the world as far back as 500 BC, fresh archaeological evidence says.
The Institute of Physics in Bhubaneswar has also concluded that the site, which archaeologists named Pattnam, was actually the ancient city of Muziris. It is located seven kilometres from Kodungallur in Ernakulam district.
According to P.J. Cherian, director of the Kerala Council of Historic Research (KCHR), the city had maritime links with cities along the Mediterranean Sea, Red Sea, Arabian Sea and South China Sea.
'The antiquity of Pattanam extends back as far as the first millennium BC as determined by the Institute of Physics,' said Cherian. KCHR and the Archaeological Survey of India (ASI) are conducting the ambitious research as part of the Muziris Heritage Project.
Cherian, the project director, said experts have analysed charcoal samples and parts of the wooden canoe and bollards recovered from a waterlogged context and excavated from the site.
'The mean calendar dates of these five samples place the antiquity of ancient maritime activity of Pattanam at about 500 BC, with an uncertainty of less than a century,' Cherian told IANS from Thiruvananthapuram.
He said the samples have undergone Accelerator Mass Spectrometry (AMS) - the analytical technique of choice for the detection of 'long-lived' radio nuclides which cannot be practically analysed with decay, counting or conventional mass spectrometry, apart from radiocarbon analysis.
'It is the first time such analysis has been done for an archaeological site in Kerala,' Cherian said.
The organic samples from the site are also being analysed at the Hyderabad-based National Geophysical Research Institute (NGRI). The results are awaited.
Pattanam is the first habitation site of the Iron Age unearthed in Kerala. Excavations there - the last of which were carried out in February last year - have produced evidence of the area's strong trade ties with ancient Rome, Yemen, the Middle East and even the Nabatian civilisation of the Arabian peninsula.
Archaeologists K.P. Shajan and V. Selvakumar along with Cherian have been involved in the excavations. The Indian Navy's Southern Command is supporting the team in underwater excavations.
The state government is moving to declare the area 'protected' in order to prevent further damage to the samples, some of which may have been damaged already. 'The government has begun the procedure to acquire the land,' Cherian said.
The excavations had produced fragments of imported Roman amphora, mainly used for transporting wine and olive oil, Yemenese and West Asian pottery, besides Indian roulette ware that was common in the east coast of India and in Egypt.
Showing posts with label News. Show all posts
Showing posts with label News. Show all posts
Monday, January 21, 2008
Top News
. Overseas Citizen of India cards were issued to over 200,000 applicants thus far.
. Prime Minister Manmohan Singh affirmed that the security and welfare of NRIs is a top priority of the country's diplomatic missions.
. Government to announce the introduction of an India Development Fund. The fund will channel contributions from NRIs towards philanthropic activities.
. India will launch a 24/7 toll free helpline (1800 11 3090) where NRI Overseas workers can voice their concerns on exploitation or neglect from anywhere in the world.
. Tata Motors launch its Rs 1 lac (US$ 2,500) Car named Tata Nano. It meets all the safety and environment norms and can carry 5 persons.
. A tsunami museum, the first of its kind in India, has been opened at Alappad village in Kerala's Kollam district.
. Air India Express will soon start daily services between Doha and Kerala.
. An ancient city excavated on Kerala's Malabar Coast had trade links with many key centres around the world as far back as 500 BC.
. Kerala's rubber growers may encounter some problems in the coming months with the country's import of natural rubber going up.
. The UAE will keep the dirham's 30-year link to the dollar after completing a review of its currency regime, said it's central bank Governor.
. Job-seekers who wish to come to the UAE to look for employment opportunities can opt for a 'Mission Visa', instead of a visit visa. UAE Ministry of Labour will grant short term work permits of a total period of six months starting from January 2
. The surge in gold prices is impacting the sales of Kerala jewellers even as the wedding season is around for the state.
. The way has been cleared for the Sabarimala railway link to the base of the hilltop Sabarimala shrine in Kerala.
. Prime Minister Manmohan Singh affirmed that the security and welfare of NRIs is a top priority of the country's diplomatic missions.
. Government to announce the introduction of an India Development Fund. The fund will channel contributions from NRIs towards philanthropic activities.
. India will launch a 24/7 toll free helpline (1800 11 3090) where NRI Overseas workers can voice their concerns on exploitation or neglect from anywhere in the world.
. Tata Motors launch its Rs 1 lac (US$ 2,500) Car named Tata Nano. It meets all the safety and environment norms and can carry 5 persons.
. A tsunami museum, the first of its kind in India, has been opened at Alappad village in Kerala's Kollam district.
. Air India Express will soon start daily services between Doha and Kerala.
. An ancient city excavated on Kerala's Malabar Coast had trade links with many key centres around the world as far back as 500 BC.
. Kerala's rubber growers may encounter some problems in the coming months with the country's import of natural rubber going up.
. The UAE will keep the dirham's 30-year link to the dollar after completing a review of its currency regime, said it's central bank Governor.
. Job-seekers who wish to come to the UAE to look for employment opportunities can opt for a 'Mission Visa', instead of a visit visa. UAE Ministry of Labour will grant short term work permits of a total period of six months starting from January 2
. The surge in gold prices is impacting the sales of Kerala jewellers even as the wedding season is around for the state.
. The way has been cleared for the Sabarimala railway link to the base of the hilltop Sabarimala shrine in Kerala.
Fresh News
Inaugurating the two-day meet, Chief Minister VS Achuthanandan said that his government had decided to float a new company to attract NRI investment.
Tamil Nadu has given an assurance to supply 10000 tonnes of red rice to Kerala in the current month and agreed to consider increasing it from next.
Central Government will float Expression of Interest for closed tea gardens in West Bengal and Kerala.
Central Government will soon setup a Central University in North Kerala.
Radio listeners in the Kerala capital will be treated with chartbuster Malayalam music and wacky RJ talk by soon to be launched Radio Mirchi (FM).
“Kochi is fast becoming the preferred destination for high-paid executives and NRIs,” said K Arun Kumar, managing director, Mir Realtors.
Kerala based V-Guard Industries files IPO papers with SEBI. Again, it is not unique because it is headed by a first generation entrepreneur. The IPO size of Rs 70 crore or its turnover of Rs 222 crore after 30 years is no news at all.
It was a never-before-witnessed scene: an NRI being beaten up by immigration authorities at the international terminal of the Mumbai airport.
Stock market regulator SEBI and AMFI (Association of Mutual Funds in India) have made PAN (permanent account number) and KYC compliance (know your customer) mandatory for mutual fund investors.
Kerala will have its own schools football league shortly.
The Government has given ‘in principle’ approval to the Government of Kerala for setting up of Greenfield International Airport through the PPP route at Kannur.
With the arrest of Peoples’ War Group leader Malla Raja Reddy from Angamali, the Naxalists have felt that Kerala is not a safe place for them to hide.
Tamil Nadu has given an assurance to supply 10000 tonnes of red rice to Kerala in the current month and agreed to consider increasing it from next.
Central Government will float Expression of Interest for closed tea gardens in West Bengal and Kerala.
Central Government will soon setup a Central University in North Kerala.
Radio listeners in the Kerala capital will be treated with chartbuster Malayalam music and wacky RJ talk by soon to be launched Radio Mirchi (FM).
“Kochi is fast becoming the preferred destination for high-paid executives and NRIs,” said K Arun Kumar, managing director, Mir Realtors.
Kerala based V-Guard Industries files IPO papers with SEBI. Again, it is not unique because it is headed by a first generation entrepreneur. The IPO size of Rs 70 crore or its turnover of Rs 222 crore after 30 years is no news at all.
It was a never-before-witnessed scene: an NRI being beaten up by immigration authorities at the international terminal of the Mumbai airport.
Stock market regulator SEBI and AMFI (Association of Mutual Funds in India) have made PAN (permanent account number) and KYC compliance (know your customer) mandatory for mutual fund investors.
Kerala will have its own schools football league shortly.
The Government has given ‘in principle’ approval to the Government of Kerala for setting up of Greenfield International Airport through the PPP route at Kannur.
With the arrest of Peoples’ War Group leader Malla Raja Reddy from Angamali, the Naxalists have felt that Kerala is not a safe place for them to hide.
Friday, January 18, 2008
Fresh News
Hoffman's Indian Fine Art Fund, which would raise funds through both resident Indian, NRIs as well as global investors, would be a 5-year closed-ended offshore fund.
The Kerala health department has asked people to exercise caution following outbreak of bird flu in two districts of West Bengal.
A two-decade wait for the people of Kannur district in Kerala finally bore fruit when the Indian cabinet Thursday gave its nod for a new airport at Kannur.
Kerala Chief Minister VS Achuthanandan Saturday will lay the foundation stone of the Rs.40 billion ($1 billion) cyber city to be built here by the HDIL in Kalamasserry Kochi.
The Indian diaspora seems to be taking a long-term view on India, with NRI remittances touching a new high of US$ 10 billion during July-September 2007 quarter.
UK based Omana Gangadharan has become the first Indian to don the prestigious Civic Ambassador's chain and badge.
The Malaysian government is expected to sign an agreement with the Indian government for the development of a medical city in Kerala.
The Kerala health department has asked people to exercise caution following outbreak of bird flu in two districts of West Bengal.
A two-decade wait for the people of Kannur district in Kerala finally bore fruit when the Indian cabinet Thursday gave its nod for a new airport at Kannur.
Kerala Chief Minister VS Achuthanandan Saturday will lay the foundation stone of the Rs.40 billion ($1 billion) cyber city to be built here by the HDIL in Kalamasserry Kochi.
The Indian diaspora seems to be taking a long-term view on India, with NRI remittances touching a new high of US$ 10 billion during July-September 2007 quarter.
UK based Omana Gangadharan has become the first Indian to don the prestigious Civic Ambassador's chain and badge.
The Malaysian government is expected to sign an agreement with the Indian government for the development of a medical city in Kerala.
Monday, January 14, 2008
Fresh News
S Krishnasamy, ethnic Indian leader of Malaysia's southern state of Johor, an assembly member representing the Malaysian Indian Congress was shot dead near his office as he was leaving to attend a meeting in the afternoon.
India will permit qualified overseas Indian professionals like doctors, dentists, architects and chartered accountants to work in the country.
India will sign pacts with other countries to exempt its nationals from making social security contributions. Negotiations are already in place with the Netherlands, Germany, Sweden and Norway.
Overseas Citizen of India cards were issued to over 200,000 applicants thus far.
Labour pacts have been signed with the United Arab Emirates, Kuwait and Qatar for the protection and welfare of overseas Indians working in all sectors and similar pacts are targeted with Malaysia, Oman and Bahrain.
NRI teachers S Rajendra and M Sangeetha both 27, who were abused by their Malaysian employers for three years have decided to go back home to India without charging the Malaysian couple who ran the school, with cruelty and abuse. They settled for USD 1,300 for each as compensation.
It is estimated that NRIs contribute 5% to Britain's GDP.
Prime Minister Manmohan Singh announced the launch of the Overseas Workers Resource Centre and the Global Advisory Council at the inauguration of the Pravasi Bharatiya Divas in Delhi.
Overseas Workers Resource Centre will operate as a multilingual helpline for grievance redressal and intervention as a pioneering effort to expand the scope of services to promote legal migration.
Prime Minister Manmohan Singh affirmed that the security and welfare of NRIs is a top priority of the country's diplomatic missions.
UAE RAK - A sixty year old Indian drowned trying unsuccessfully to save his depressed son who jumped into the sea because he was not allowed to go back to his wife in Kerala.
The Kenyan NRI business community, most of whom are Gujaratis, have suffered losses estimated at around Rs500 crores (over US$12 million) in the recent ethic violence. Indian businesses in Kisumu have suffered most, with as many as a hundred food shops targeted by rampaging mobs that looted and burned the establishments.
The ten month old Overseas Indian Facilitation Centre for NRIs and PIOs has become so popular that they are considering an expansion of their service offers as the government prepares to host the year's Pravasi Bharatiya Divas shortly.
Overseas Indian Facilitation Centre's web site www.oifc.in was set up as a one stop site where NRIs and PIOs post queries for advice on investment opportunities as well as tax and real estate regulations.
Richa Gangopadhyay 21, a final year student at Michigan State University, majoring in dietetics and nutrition was crowned Miss India USA 2007 at the 26th annual beauty pageant held in New Jersey. Richa also won the title of Miss Photogenic.
At one hospital in Anand, Gujarat a number of pregnant women live, are cared for and nourished as they culminate their pregnancies as surrogates for children of infertile couples from around the world. The clinic matches them and counsels them as they prepare to birth the babies in a growing business of outsourced pregnancies with buyers from the US, Taiwan, the UK and beyond.
The Ministry for Overseas Indian Affairs plans to announce the introduction of an India Development Fund. The fund will channel contributions from NRIs towards philanthropic activities.
India will soon provide access to a 24/7 toll free helpline where NRI Overseas workers can voice their concerns on exploitation or neglect from anywhere in the world. Overseas workers' resource centres will be set up to deal with distress calls on the number 1800 11 3090. Counsellors will help callers in distress, will direct callers looking for employment opportunities.
Tata Motors launch its Rs 1 lac (US$ 2,500) Car named Tata Nano. It meets all the safety and environment norms and can carry 5 persons.
India will permit qualified overseas Indian professionals like doctors, dentists, architects and chartered accountants to work in the country.
India will sign pacts with other countries to exempt its nationals from making social security contributions. Negotiations are already in place with the Netherlands, Germany, Sweden and Norway.
Overseas Citizen of India cards were issued to over 200,000 applicants thus far.
Labour pacts have been signed with the United Arab Emirates, Kuwait and Qatar for the protection and welfare of overseas Indians working in all sectors and similar pacts are targeted with Malaysia, Oman and Bahrain.
NRI teachers S Rajendra and M Sangeetha both 27, who were abused by their Malaysian employers for three years have decided to go back home to India without charging the Malaysian couple who ran the school, with cruelty and abuse. They settled for USD 1,300 for each as compensation.
It is estimated that NRIs contribute 5% to Britain's GDP.
Prime Minister Manmohan Singh announced the launch of the Overseas Workers Resource Centre and the Global Advisory Council at the inauguration of the Pravasi Bharatiya Divas in Delhi.
Overseas Workers Resource Centre will operate as a multilingual helpline for grievance redressal and intervention as a pioneering effort to expand the scope of services to promote legal migration.
Prime Minister Manmohan Singh affirmed that the security and welfare of NRIs is a top priority of the country's diplomatic missions.
UAE RAK - A sixty year old Indian drowned trying unsuccessfully to save his depressed son who jumped into the sea because he was not allowed to go back to his wife in Kerala.
The Kenyan NRI business community, most of whom are Gujaratis, have suffered losses estimated at around Rs500 crores (over US$12 million) in the recent ethic violence. Indian businesses in Kisumu have suffered most, with as many as a hundred food shops targeted by rampaging mobs that looted and burned the establishments.
The ten month old Overseas Indian Facilitation Centre for NRIs and PIOs has become so popular that they are considering an expansion of their service offers as the government prepares to host the year's Pravasi Bharatiya Divas shortly.
Overseas Indian Facilitation Centre's web site www.oifc.in was set up as a one stop site where NRIs and PIOs post queries for advice on investment opportunities as well as tax and real estate regulations.
Richa Gangopadhyay 21, a final year student at Michigan State University, majoring in dietetics and nutrition was crowned Miss India USA 2007 at the 26th annual beauty pageant held in New Jersey. Richa also won the title of Miss Photogenic.
At one hospital in Anand, Gujarat a number of pregnant women live, are cared for and nourished as they culminate their pregnancies as surrogates for children of infertile couples from around the world. The clinic matches them and counsels them as they prepare to birth the babies in a growing business of outsourced pregnancies with buyers from the US, Taiwan, the UK and beyond.
The Ministry for Overseas Indian Affairs plans to announce the introduction of an India Development Fund. The fund will channel contributions from NRIs towards philanthropic activities.
India will soon provide access to a 24/7 toll free helpline where NRI Overseas workers can voice their concerns on exploitation or neglect from anywhere in the world. Overseas workers' resource centres will be set up to deal with distress calls on the number 1800 11 3090. Counsellors will help callers in distress, will direct callers looking for employment opportunities.
Tata Motors launch its Rs 1 lac (US$ 2,500) Car named Tata Nano. It meets all the safety and environment norms and can carry 5 persons.
Saturday, January 12, 2008
Fresh News
While most Kashmiri traders in Kerala have been in the handicraft business for decades, it's the newer entrants who are suddenly under scrutiny.
According to Kerala agriculture minister Mullakara Ratnakaran, a decision to have Horticulture Research Centre was taken at a review meeting of the state horticulture mission.
Pyramid Saimira Theatre Ltd has announced that the Company has inaugurated Brahmin's Kitchen, the group's first signature South Indian restaurant at their palakkad theatre.
Gulf-based NRI entrepreneur Ravi Pillai is going to enter the hospitality sector in India in a major way including a hotel in Kerala. He was recently conferred the prestigious "Pravasi Bhartiya Samman 2008" by Ho'ble president of India.
The industrial capital of Kerala, Kochi is attracting a lot of NRI’s. The city offers grand investment opportunities for real estate and immense number of NRI’s are interested to buy homes in Kochi.
A tsunami museum, the first of its kind in India, has been opened at Alappad village in Kerala’s Kollam district. It aims to educate people about the risks.
Air India Express will soon start daily services between Doha and Kerala.
An ancient city excavated on Kerala's Malabar coast had trade links with many key centres around the world as far back as 500 BC, fresh archaeological evidence says.
According to Kerala agriculture minister Mullakara Ratnakaran, a decision to have Horticulture Research Centre was taken at a review meeting of the state horticulture mission.
Pyramid Saimira Theatre Ltd has announced that the Company has inaugurated Brahmin's Kitchen, the group's first signature South Indian restaurant at their palakkad theatre.
Gulf-based NRI entrepreneur Ravi Pillai is going to enter the hospitality sector in India in a major way including a hotel in Kerala. He was recently conferred the prestigious "Pravasi Bhartiya Samman 2008" by Ho'ble president of India.
The industrial capital of Kerala, Kochi is attracting a lot of NRI’s. The city offers grand investment opportunities for real estate and immense number of NRI’s are interested to buy homes in Kochi.
A tsunami museum, the first of its kind in India, has been opened at Alappad village in Kerala’s Kollam district. It aims to educate people about the risks.
Air India Express will soon start daily services between Doha and Kerala.
An ancient city excavated on Kerala's Malabar coast had trade links with many key centres around the world as far back as 500 BC, fresh archaeological evidence says.
Thursday, January 3, 2008
SBI Tie up with Post Offices
State Bank of India has entered into an alliance with India Post in Kerala for making available some of its services to the public in financial inclusion. An agreement to this effect was signed here on Wednesday between Mr Niranjan Parsha, General Manager, SBI, Kerala Circle, and Mr Mervin Alexander, Director of Postal Services, India Post. As per the agreement, India Post will act as a business facilitator/business correspondent of SBI to extend the reach of banking serv ices, especially in un-banked or under-banked areas. Select post offices in the State will make available to the public SBI's deposit and loan products.
Fresh News
Bahrain is to co-operate with the state of Kerala, India, in tourism and infrastructure development. This was revealed by Premier's Court Minister.
Kerala has been witnessing “unprecedented” outbreak of fevers on a “massive” scale, causing heavy strain on health infrastructurr said one state minister.
Communist Chief Minister of Kerala, VS Achuthanandhan, raised eyebrows this weekend by making his first offical visit to the hill shrine of Sabarimala.
Kerala has been witnessing “unprecedented” outbreak of fevers on a “massive” scale, causing heavy strain on health infrastructurr said one state minister.
Communist Chief Minister of Kerala, VS Achuthanandhan, raised eyebrows this weekend by making his first offical visit to the hill shrine of Sabarimala.
Tuesday, January 1, 2008
Mission work permits from January 2
The Ministry of Labour will grant short term work permits of a total period of six months starting from January 2.
Dr Ali bin Abdullah Al Ka'abi, Minister of Labour, has issued a new decision allowing companies in all sectors to apply for mission work permits for employees who are in probation period or who are in the country for a short term job. "Implementing the mission work permit will help solve the problem of people working on visit visa and it will give greater flexibility in the relationship between the employer and employee," said Al Ka'abi.
People working on a visit visa are illegal and are thus not protected by the labour law. "Contract which protects the worker's right will be issued together with mission work permit and a bank warranty which is taken for each worker will be liquidated in case of non payment of salary," said Al Ka'abi. Brigadier Mohammad Al Merri, Director General of Dubai Naturalisation and Residency Department, said that this new type of work permits are hoped to limit the misuse of visit visas in the country.
"In the next period we are expecting to reduce the number of visit visa issued and companies as companies will bring their workers on the mission work permit," said Al Merri.
Dr Ali bin Abdullah Al Ka'abi, Minister of Labour, has issued a new decision allowing companies in all sectors to apply for mission work permits for employees who are in probation period or who are in the country for a short term job. "Implementing the mission work permit will help solve the problem of people working on visit visa and it will give greater flexibility in the relationship between the employer and employee," said Al Ka'abi.
People working on a visit visa are illegal and are thus not protected by the labour law. "Contract which protects the worker's right will be issued together with mission work permit and a bank warranty which is taken for each worker will be liquidated in case of non payment of salary," said Al Ka'abi. Brigadier Mohammad Al Merri, Director General of Dubai Naturalisation and Residency Department, said that this new type of work permits are hoped to limit the misuse of visit visas in the country.
"In the next period we are expecting to reduce the number of visit visa issued and companies as companies will bring their workers on the mission work permit," said Al Merri.
Kerala achieves ‘total banking’ distinction
After literacy and universal healthcare, Kerala has achieved another distinction — ‘total banking’. Federal Minister of State for Finance Pawan Kumar Bansal announced at a meeting of the State Level Bankers Committee (SLBC) here yesterday. He said Kerala was the first state in the country to ensure at least one bank account to every family. These families have been provided with ‘no-frills accounts’, a pass book and an automated teller machine (ATM) card. The account makes the family eligible for a general-purpose loan up to Rs25,000. “Kerala started the race for total financial inclusion along with other states. While the state achieved the unique feat, the others are lagging behind. Four states have assured us that they would meet the target by March 2008”, Bansal said. SLBC sources said the campaign had succeeded in Kerala because of high number of expatriates working in various countries across the world. All the families of the two million non-resident Keralites have been maintaining at least one account since they are getting remittances through banks. The NRI deposits constitute more than 40 per cent of the total bank deposits in the state. Although Kerala accounts for only 1.13 of the total population in the country, the state has 5 per cent of the total bank offices. The state has 3,554 commercial bank branches, including 2,410 in the public sector. Curiously the backward district of Palghat was the first district in the state to achieve 100 per cent financial inclusion. The honour came after Palghat became India’s first IT-enabled district headquarters last year. It was followed by Ernakulam district. The initiative to achieve 100 per cent financial inclusion was taken by the State Level Bankers' Committee as per the Reserve Bank of India (RBI) guidelines. The apex bank wanted all states to provide 'no frills' account and a General Purpose Credit Card for extending need-based loan facilities to all households. The SLBC kicked off the drive by conducting a survey to identify families that did not have bank accounts. Different banks were allocated targets as per the survey results. The cooperative banks, which have a large network in the state, were also associated with the campaign. SLBC sources said that several families had refused to open accounts, saying they had no money to operate the accounts. They joined the banking network after they were convinced that the accounts would bring loans and agricultural credits besides helping them in promoting a saving habit.
Fresh News
People of kerala might receive half an hour of power cuts every day for the first fifteen days of 2008. Kerala will undergo a power cut.
UAE Mortgages are becoming more freely available on a 10 to 15 year basis in order to purchase Dubai property and interest rates are linked to those in the US. Currents quotes are 6.5%. Current local mortgage providers are Amlak, Dubai Islamic Bank, Rak Bank, Mashreq Bank, HSBC and Tamweel.
For the first time in 35 years the UK government wants to halve the time tourists can stay in the UK from six to three months and to bring in a bond system for people visiting relatives and friends, which although not confirmed, is speculated at being around 1000 pounds sterling per person.
The private transfers, comprising primarily remittances from NRIs, nearly doubled at $10.08 billion for the July–September 2007 quarter.
By now this vibrant booming Bangalore real estate has brought lot of NRI investors in to the market. These NRIs find Bangalore to be a most excellent place to invest.
With the New Year round the corner, Wayanad district, an emerging tourist destination in Kerala, is brimming with tourists.
UAE Mortgages are becoming more freely available on a 10 to 15 year basis in order to purchase Dubai property and interest rates are linked to those in the US. Currents quotes are 6.5%. Current local mortgage providers are Amlak, Dubai Islamic Bank, Rak Bank, Mashreq Bank, HSBC and Tamweel.
For the first time in 35 years the UK government wants to halve the time tourists can stay in the UK from six to three months and to bring in a bond system for people visiting relatives and friends, which although not confirmed, is speculated at being around 1000 pounds sterling per person.
The private transfers, comprising primarily remittances from NRIs, nearly doubled at $10.08 billion for the July–September 2007 quarter.
By now this vibrant booming Bangalore real estate has brought lot of NRI investors in to the market. These NRIs find Bangalore to be a most excellent place to invest.
With the New Year round the corner, Wayanad district, an emerging tourist destination in Kerala, is brimming with tourists.
Friday, December 28, 2007
Fresh News
Reserve Bank of India (RBI) proposed to make automated teller machine (ATM) transactions free of cost w.e.f April 1, 2009.
The government on Monday cautioned small investors against misleading advertisements of companies looking to tap the capital market and advised them to verify their credentials before putting in their money.
Indian Council of Agricultural Research (ICAR) has developed a new health drink based on Beetroot which can be used by all and sundry.
Import of palm group of oils through any port in Kerala has been banned. Move aimed at promote Coconut Oil in the state.
It is expected that Gold is all set to scale new heights in the next year as well putting it on track to break the magical figure of $ US 1000 an ounce for the first time in history.
SKS Microfinance Pvt. Ltd,, the new generation microfinance company, has launched operations in Kerala. SKS Microfinance, a registered NBFC, aims to empower masses.
SBI Chairman Shri O P Bhatt has been named as "Banker of the Year" by Business Standard.
David Verghese, a 10-year-old Indian boy has emerged as the youngest champion in the history of a BBC quiz show, Junior Mastermind .
Houseboats, which have become the mascot of Kerala Tourism are overpriced with the tariff reportedly in the range of Rs. 14000 to Rs. 17000 for a night.
The government on Monday cautioned small investors against misleading advertisements of companies looking to tap the capital market and advised them to verify their credentials before putting in their money.
Indian Council of Agricultural Research (ICAR) has developed a new health drink based on Beetroot which can be used by all and sundry.
Import of palm group of oils through any port in Kerala has been banned. Move aimed at promote Coconut Oil in the state.
It is expected that Gold is all set to scale new heights in the next year as well putting it on track to break the magical figure of $ US 1000 an ounce for the first time in history.
SKS Microfinance Pvt. Ltd,, the new generation microfinance company, has launched operations in Kerala. SKS Microfinance, a registered NBFC, aims to empower masses.
SBI Chairman Shri O P Bhatt has been named as "Banker of the Year" by Business Standard.
David Verghese, a 10-year-old Indian boy has emerged as the youngest champion in the history of a BBC quiz show, Junior Mastermind .
Houseboats, which have become the mascot of Kerala Tourism are overpriced with the tariff reportedly in the range of Rs. 14000 to Rs. 17000 for a night.
Visit visa only for immediate relatives
The Abu Dhabi Naturalisation and Residency Department (ADNRD) took new measures this month to stop issuing visit visas to bring friends and workers to the emirate, according to a senior official at the department.
Colonel Nassir Al Awadi Al Minhali, Director of ADNRD, told Khaleej Times yesterday in an exclusive interview, “The ADNRD allows issuing of visit visas only for immediate relatives, such as parents, brothers, sisters, wives and children.”
The ADNRD would not issue visit visas for the firms because they were allowed to obtain only employment visas after getting temporary mission permits from the Ministry of Labour (MoL).
The new protective measures were aimed at weeding out the phenomenon of illegals from the country.
Meanwhile, the Ministry of Interior (MoI) has completed a study, after the 2007 amnesty period that ended on November 3, to find out the factors that contribute to the problem of illegals in the country.
The study showed that about 25 per cent of the illegals entered the UAE on visit visas.
“The ADNRD has taken the new measures also to curb begging by people entering the county on visit visas. Both the people found begging and their sponsors would face stiff penalties for violating the country’s law,” added Al Minhali.
The visitors found begging in the streets would face penalties such as deportation with life ban. “For the sponsors, the officials will transfer the case to the General Prosecution after imposing stiff penalties on them such as suspension of issuance of visit visas on the sponsor’s code number in the ADNRD’s system,” he said.
“Moreover, we are preparing a database to register all the absconding cases filed by sponsors and the number of visit visas they had applied for. Further, the MoI will launch intensive campaigns to find illegals,” added Al Minhali.
The companies could apply for visit visas only for delegations. This was a special case and the ADNRD would demand bank guarantees ranging between Dh2,000 and Dh5,000, depending on the applications.
“We will also not accept any applications to bring workers on businessmen visas unless the sponsor provides proof that they are really businessmen such as the contracts they have signed, copy of visa card and bank account sheets,” said Al Minhali.
Colonel Nassir Al Awadi Al Minhali, Director of ADNRD, told Khaleej Times yesterday in an exclusive interview, “The ADNRD allows issuing of visit visas only for immediate relatives, such as parents, brothers, sisters, wives and children.”
The ADNRD would not issue visit visas for the firms because they were allowed to obtain only employment visas after getting temporary mission permits from the Ministry of Labour (MoL).
The new protective measures were aimed at weeding out the phenomenon of illegals from the country.
Meanwhile, the Ministry of Interior (MoI) has completed a study, after the 2007 amnesty period that ended on November 3, to find out the factors that contribute to the problem of illegals in the country.
The study showed that about 25 per cent of the illegals entered the UAE on visit visas.
“The ADNRD has taken the new measures also to curb begging by people entering the county on visit visas. Both the people found begging and their sponsors would face stiff penalties for violating the country’s law,” added Al Minhali.
The visitors found begging in the streets would face penalties such as deportation with life ban. “For the sponsors, the officials will transfer the case to the General Prosecution after imposing stiff penalties on them such as suspension of issuance of visit visas on the sponsor’s code number in the ADNRD’s system,” he said.
“Moreover, we are preparing a database to register all the absconding cases filed by sponsors and the number of visit visas they had applied for. Further, the MoI will launch intensive campaigns to find illegals,” added Al Minhali.
The companies could apply for visit visas only for delegations. This was a special case and the ADNRD would demand bank guarantees ranging between Dh2,000 and Dh5,000, depending on the applications.
“We will also not accept any applications to bring workers on businessmen visas unless the sponsor provides proof that they are really businessmen such as the contracts they have signed, copy of visa card and bank account sheets,” said Al Minhali.
Wednesday, December 26, 2007
Fresh News
All IT dealers have announced 2 day hartal (strike) beginning from 24 Dec. 07 against the raids conducted by Microsoft in Trichur and Trivandrum district. Microsoft conducted these raids without prior notice to the dealers.
The Uday Samudra Leisure Resort in Kovalam has claimed to set a world record with 29.1-feet tall Christmas cake. Claimed to be world's largest.
Kerala has been declared as a total banking state by Union Minister of State for Finance Pawan Kumar Bansal in the State- Level Bankers Committee providing at least one bank account for every household.
Boards of six associate banks of the State Bank of India slated to meet on January 25, 2008 to consider in-principle nod for their merger with State Bank of India, India's largest commercial bank.
Canada should put in place a new visa regime as the current one is "discriminatory" especially against Indians as per NRI politicians.
In order to overcome the acute shortage of tree climbers and farmhands in the state, the Kerala Government is planning to set up a school for training climbing coconut trees & plucking coconut.
Saturday, December 22, 2007
Fresh News
1. Bollywood superstar Shah Rukh Khan's Om Shanti Om stayed in the UK top ten for two weeks, and collected a record $19 million in its opening week. At least five other Bollywood films made it to the UK top ten.
2. Kerala Tourism Development Corporation (KTDC) is in the process of developing a three-star hotel at Ponmudi in Kerala.
3. Akshaye Khanna is presently shooting in Alleppey, Kerala with one of his favorite directors Priyadarshan for his forthcoming Untitled film.
4. Liquor sales in Kerala are heading for an all time high of Rs.20.3 billion by end of November, up from Rs.20 billion during the same period last year.
Friday, December 21, 2007
UAE Inheritance Laws
Q: Which inheritance laws apply on foreign residents in the UAE? What is your advice in terms of property ownership and bank accounts?
A: Inheritance and property laws are a complex issue and it is worth investing in independent legal advice to be entirely confident about your position.
The rules regarding the form and technical provisions of wills can be confusing for lay people. It's also worth being aware that property laws are changing, which will in turn affect the rules regarding inheritance.
A good local lawyer can help you understand all this. However, there are some basic steps you should take to increase the confidence and security of your family.
Probably the best advice - wherever you reside - is to make sure that you have made a will for all your property and that this will is constituted properly, so that it is recognised under the law of your country of origin and your country of residence.
Almost every lawyer and financial adviser urges their clients to make a will, because the alternative creates so much stress and heartache for bereaved family members.
When people pass away intestate - without a will - it creates a number of issues, particularly if there are multiple claims on a property. It also adds to the uncertainty and upset that surrounds the passing of a loved one.
Legal framework
The UAE has a legal framework in place surrounding the drafting of a will, so there's really no excuse for anyone not to have one.
For Muslim expatriates, typically the courts will apply Sharia law in regard to inheritance and the drafting of a will.
However, even non-Muslims who have a valid resident visa can make a will and have it registered in the UAE.
In the interests of family security, you should itemise all your valuable assets within the document, starting with any properties you might own, but also including bank accounts and disposable assets.
Typically, the will must be typewritten or computer generated, must expressly state that it's your will, and it should be signed and dated.
It will also need to be signed by witnesses - the number may vary depending on the laws of your home country.
It's important that the will is legally approved and attested by authorities in your home country, before it is recognised as legal here in the UAE.
You should also have the document translated into Arabic; particularly if you own property and want to make sure it is passed on in accordance to your wishes.
You should also bear in mind that your will can be structured in such a way as to mitigate the tax burden on your inheritance.
Residents from the UK, in particular, need to consider the potentially steep inheritance taxes that can be levied on international assets. Typically, everything above the so-called "nil band rate" is subject to taxation. However, there are a number of exemptions which allow people to pass on inheritance without incurring tax.
All these issues underline the importance of consulting an expert when you are drafting your will. Ensuring this is in place provides a significant degree of protection to your loved ones.
A: Inheritance and property laws are a complex issue and it is worth investing in independent legal advice to be entirely confident about your position.
The rules regarding the form and technical provisions of wills can be confusing for lay people. It's also worth being aware that property laws are changing, which will in turn affect the rules regarding inheritance.
A good local lawyer can help you understand all this. However, there are some basic steps you should take to increase the confidence and security of your family.
Probably the best advice - wherever you reside - is to make sure that you have made a will for all your property and that this will is constituted properly, so that it is recognised under the law of your country of origin and your country of residence.
Almost every lawyer and financial adviser urges their clients to make a will, because the alternative creates so much stress and heartache for bereaved family members.
When people pass away intestate - without a will - it creates a number of issues, particularly if there are multiple claims on a property. It also adds to the uncertainty and upset that surrounds the passing of a loved one.
Legal framework
The UAE has a legal framework in place surrounding the drafting of a will, so there's really no excuse for anyone not to have one.
For Muslim expatriates, typically the courts will apply Sharia law in regard to inheritance and the drafting of a will.
However, even non-Muslims who have a valid resident visa can make a will and have it registered in the UAE.
In the interests of family security, you should itemise all your valuable assets within the document, starting with any properties you might own, but also including bank accounts and disposable assets.
Typically, the will must be typewritten or computer generated, must expressly state that it's your will, and it should be signed and dated.
It will also need to be signed by witnesses - the number may vary depending on the laws of your home country.
It's important that the will is legally approved and attested by authorities in your home country, before it is recognised as legal here in the UAE.
You should also have the document translated into Arabic; particularly if you own property and want to make sure it is passed on in accordance to your wishes.
You should also bear in mind that your will can be structured in such a way as to mitigate the tax burden on your inheritance.
Residents from the UK, in particular, need to consider the potentially steep inheritance taxes that can be levied on international assets. Typically, everything above the so-called "nil band rate" is subject to taxation. However, there are a number of exemptions which allow people to pass on inheritance without incurring tax.
All these issues underline the importance of consulting an expert when you are drafting your will. Ensuring this is in place provides a significant degree of protection to your loved ones.
Fresh News
- Central Minister Vayalar Ravi said India was in the process of establishing a University to provide world class higher education to PIO (Persons of Indian Origin)/NRIs.
- Indian-born Mahender Murlidhar Sabhani, 51, and his wife, Indonesian-born Varsha Mahender Sabhnani, 45, were each convicted of all charges in a 12-count federal indictment that included forced labour.
- India is now experiencing a reverse brain-drain with its well resourced hospitals with state-of-the-art facilities wooing back a sizable number of NRI doctors, who worked with the National Health Service of Britain for years.
- In Kerala, 6000 members have signed up in two weeks for the newly formed All Kerala Drinkers' Welfare Association. Thiruvananthapuram. Kerala has the dubious distinction of the highest per capita consumption of alcohol in the country,
- A hotel in Kerala has set out to bake its way into the record books. Uday Samudra Leisure Resort here will make the world's largest cake on Christmas Eve
- Held guilty of modern day slavery and awaiting sentences, Mahender and Varsha Sabhnani, a wealthy NRI business couple are set to lose their million-dollar house in Long Island USA. A jury has unanimously decided that mansion of India born Mahender, 51, and Indonesia-born Varsha, be forefieted to Government.
- According to Patel, who is an NRI from UK, there is a huge market for the repair of laptops and ACi's centres would act as vertically integrated service. ACi set to launch laptop for 15,000 IRS.
- Hyderabad-based SKS Microfinance plans to reach out to 7000 poor households across Kerala by providing them with income generating loans.
- Former UN Under-Secretary General and chairman of Dubai-based Afras Projects India Shashi Tharoor signed an agreement on Wednesday to start a finishing school in Kerala for the young software professionals at Technopark.
- If you want to get rice at a discount now in Kerala, look for it at a cooperative bank. The state's cooperation department has started selling rice through cooperative banks to hold down the spiralling price of the grain in the state.
Tuesday, December 18, 2007
Top News - December 15, 2007
- Setting of Smart City at Kochi has started a fresh rally in real estate prices in and around Kochi.
- Kerala launched the first phase of Internet broadband connections to 1200 schools in the state.
- Leading NRI industrialist Lord Swraj Paul foresees India becoming a hub for world manufacturing industry in the near future.
- Dubai-based Syed Mohammad Salahuddin has become the first to get a licence for operating a low-cost regional airline in India. The carrier, Star Aviation, will begin operations by mid-2008 in South India.
- Legal immigrants from India to USA has risen from 539,000 (1999) to 629,000. It is largest from any country.
- Head of British Columbia (province of Canada) said that Canada was on a path of 'ageing', have shortage of manpower and might require manpower from India.
- The UK introduced a new points based immigration system that will help highly skilled professionals from India.
- A US-based NRK woman launches a women's football club in Trivandrum.
- Kerala will form a Trade Fair Authority of its own to conduct shopping festivals in the state.
- The Kerala expatriate community will organise an Inter-District Football Tournament for the members of various district associations in Qatar
- Saudi Arabia warned investors against the betting on an appreciation of the dollar-pegged riyal and said that the kingdom had no plans to change currency policy.
- Payyannur a small town in North Malabar has set up a unique Court to enforce discipline, friendly customer service amongst auto rickshaw drivers.
- The UAE Ministry of Economy has warned suppliers against raising prices of goods and services in an "unjustified" manner to take advantage of a 70 per cent increase in federal government employee wages next year.
- Kerala's first private FM radio station started functioning. Radio Mango 91.9 is a venture of Malayala Manorama.
- With the objective of turning Kerala into a major harbour state, Kerala govt frames policy to develop ports in the state.
Email Frauds
Fraudsters are increasingly using email in trying to steal money or personal information like bank id and passwords from unsuspecting victims. Inexperienced persons can easily become vulnerable to such Internet scams. The good news is that it is easy to learn how to identify current Internet scams that arrive via email. Three most common email driven frauds are Phishing Scams, Nigerian Scams and Lottery Scams.
Phishing Scams-
Under “Phishing" scams you receive email messages that appear to come from your bank/financial institution. The email will try to scare you by saying that your account and money is at risk.
It also provides a link in the message and asks you to click on the link to visit bank’s website and to "update" or "verify" your personal information (your internet bank id and password or Credit card number). When you click on such link it will take you to fake ‘look-a-like’ bank website where you are asked to provide personal information. The scammers then use this information to log in to your account and transfer money/make purchases.
No Bank and Financial institution will ask you to provide id and password over email/phone. If you receive such mail do not click on the link given in the message, do not reveal any sensitive information over email/phone. If you still have any doubt after receiving such mail contact your bank/financial institution.
Nigerian Scams-
Persons of Nigeria or any other country (mainly from Africa) sends you email. The email claims that sender of email has some huge money (mostly illegal) which is parked in some account.
The sender wants to transfer this money to your bank account so that he can make it legal. In return they offer you a portion of the fund. If you show interest then email chain is established. The fraudster will ask you to send some money for processing work etc. Sometimes fraudster will ask you your id and password also. He will use a variety of stories to explain why they need your help to access the funds. Sometimes the story will be different – a rich man/trust wants to donate substantial money for charity thru you.
Lottery Scams-
You receive an email/letter/fax that says that you have won a huge amount of money in an international lottery even though you have never bought a ticket. The email may claim that your email address was chosen at random out of a large pool of email addresses as a "winning entry". Such emails are almost certainly fraudulent. In some cases, the emails claim to be endorsed by well-known companies such as Microsoft or include links to legitimate lottery organization websites.
Like the Nigerian Scams, once you respond the fraudster will ask you money for delivery charges etc. If you send the delivery charges they will ask you to produce “Anti Terrorism Certificate”/”Money Laundering” Certificate. In most case the certificate required will be from China government as fraudster will claim that prize money will be sent from China. He will offer you to get these certificates if you (once again) send money to them.
The fraudster may sometimes send you a fake proof of sending money thru wire transfer (TT) immediately and then they will claim that TT has been stopped by Government because you need to produce “Anti Terrorism Certificate” etc.
It is reported that this fraud is getting complicated. For example fraudsters may visit your home and hand you over some fake currency notes (only a small amount out of prize money) and will again demand some processing fee etc for rest of the prize money
Phishing Scams-
Under “Phishing" scams you receive email messages that appear to come from your bank/financial institution. The email will try to scare you by saying that your account and money is at risk.
It also provides a link in the message and asks you to click on the link to visit bank’s website and to "update" or "verify" your personal information (your internet bank id and password or Credit card number). When you click on such link it will take you to fake ‘look-a-like’ bank website where you are asked to provide personal information. The scammers then use this information to log in to your account and transfer money/make purchases.
No Bank and Financial institution will ask you to provide id and password over email/phone. If you receive such mail do not click on the link given in the message, do not reveal any sensitive information over email/phone. If you still have any doubt after receiving such mail contact your bank/financial institution.
Nigerian Scams-
Persons of Nigeria or any other country (mainly from Africa) sends you email. The email claims that sender of email has some huge money (mostly illegal) which is parked in some account.
The sender wants to transfer this money to your bank account so that he can make it legal. In return they offer you a portion of the fund. If you show interest then email chain is established. The fraudster will ask you to send some money for processing work etc. Sometimes fraudster will ask you your id and password also. He will use a variety of stories to explain why they need your help to access the funds. Sometimes the story will be different – a rich man/trust wants to donate substantial money for charity thru you.
Lottery Scams-
You receive an email/letter/fax that says that you have won a huge amount of money in an international lottery even though you have never bought a ticket. The email may claim that your email address was chosen at random out of a large pool of email addresses as a "winning entry". Such emails are almost certainly fraudulent. In some cases, the emails claim to be endorsed by well-known companies such as Microsoft or include links to legitimate lottery organization websites.
Like the Nigerian Scams, once you respond the fraudster will ask you money for delivery charges etc. If you send the delivery charges they will ask you to produce “Anti Terrorism Certificate”/”Money Laundering” Certificate. In most case the certificate required will be from China government as fraudster will claim that prize money will be sent from China. He will offer you to get these certificates if you (once again) send money to them.
The fraudster may sometimes send you a fake proof of sending money thru wire transfer (TT) immediately and then they will claim that TT has been stopped by Government because you need to produce “Anti Terrorism Certificate” etc.
It is reported that this fraud is getting complicated. For example fraudsters may visit your home and hand you over some fake currency notes (only a small amount out of prize money) and will again demand some processing fee etc for rest of the prize money
UAE mortgages likely to grow nine-fold in five years
The UAE's housing mortgage market is projected to grow nine-fold during the next five years to Dh161 billion in 2012, according to a research report by EFG-Hermes, a regional investment bank.
According to central bank statistics, up to the end of the second quarter of 2007, the UAE's financial system had a total of Dh46.3 billion in mortgage assets.
This includes a large amount of commercial mortgages. Residential mortgages are estimated at about half of that figure, with industry sources suggesting they are about Dh20 billion.
EFG-Hermes estimates current housing mortgages at less than Dh18 billion for 2007.
"Going forward, we assume housing purchases of around Dh680 billion over the next five years. If we also assume that 20-40 per cent of properties are mortgaged, and loan-to-value ratios of 70 per cent, this suggests that mortgages disbursed between now and 2012 will be of the order of Dh43 billion, making for a total market of Dh161 billion, implying a compounded annual growth rate (CAGR) of 55 per cent over the next five years," said Raj Madha, an analyst with EFG-Hermes.
In the short term, most of the growth is expected to be focused on Dubai, but towards the end of the five-year period, Abu Dhabi is expected to contribute significantly to the growth, although perhaps not reaching equality between the two emirates. By 2020, based on the same assumption, the report estimates the mortgage market will grow to Dh457 billion.
Over the last two years the real estate mortgage loan market (commercial and residential combined) has been growing at 92 per cent CAGR. Although growing at a high rate, over the next five years, growth is projected to fall to 55 per cent. Beyond 2020, EFG estimates that the market will mature to standard growth rates.
The housing finance sector has been growing rapidly for the last few years. However, unlike the property market, it is clear that the housing finance market is still massively underpenetrated.
According to central bank statistics, up to the end of the second quarter of 2007, the UAE's financial system had a total of Dh46.3 billion in mortgage assets.
This includes a large amount of commercial mortgages. Residential mortgages are estimated at about half of that figure, with industry sources suggesting they are about Dh20 billion.
EFG-Hermes estimates current housing mortgages at less than Dh18 billion for 2007.
"Going forward, we assume housing purchases of around Dh680 billion over the next five years. If we also assume that 20-40 per cent of properties are mortgaged, and loan-to-value ratios of 70 per cent, this suggests that mortgages disbursed between now and 2012 will be of the order of Dh43 billion, making for a total market of Dh161 billion, implying a compounded annual growth rate (CAGR) of 55 per cent over the next five years," said Raj Madha, an analyst with EFG-Hermes.
In the short term, most of the growth is expected to be focused on Dubai, but towards the end of the five-year period, Abu Dhabi is expected to contribute significantly to the growth, although perhaps not reaching equality between the two emirates. By 2020, based on the same assumption, the report estimates the mortgage market will grow to Dh457 billion.
Over the last two years the real estate mortgage loan market (commercial and residential combined) has been growing at 92 per cent CAGR. Although growing at a high rate, over the next five years, growth is projected to fall to 55 per cent. Beyond 2020, EFG estimates that the market will mature to standard growth rates.
The housing finance sector has been growing rapidly for the last few years. However, unlike the property market, it is clear that the housing finance market is still massively underpenetrated.
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