Sunday, 27 August 2017

Masala King Dr. Dhananjay Datar ranks 32nd in Forbes ME Honors

Masala King Dr. Dhananjay Datar ranks 32nd in Forbes ME Honors

Masala King Dr. Dhananjay Datar ranks 32nd in Forbes ME Honors
       Dr. Dhananjay Datar, popularly known as the ‘Masala King’ said, “It is a great honor to be recognized by Forbes ME, which is one of the most credible media  houses in the world. Recognizing their passion and contribution to the advancement of the Arab region, Forbes Middle East revealed its long-awaited list of the Top Indian Leaders in the Arab World at an impressive ceremony hosted recently at The Westin Dubai Mina Seyahi Beach Resort & Marina, Dubai. Guests of honor at the event included H.E. Mr. Vipul, Consul General of India to the UAE. 
       After receiving the award Dr Datar said, “Honors and recognition add more responsibility to what  we do. I strongly believe that we will strive to provide enhanced value to our customers in a socially responsible manner. I wish to thank Forbes Middle East for the honor. It is also a reflection of the dedicated team effort of our entire organization. I wish to thank the Rulers of this great country who support and encourage us in our endeavors. It is evident from the fact that a majority of the Top Leaders and Business owners are based in UAE, which is a clear reflection of the support that we get from the leaders of UAE”. 
         Dhananjay Datar was a young boy from Akola district in Maharashtra, who went to Dubai and started a humble kirana store. That business in two and a half decades has become a multi million dirhams Business Empire, with 36 entities spread across the Gulf. Today the world calls him the ‘Masala King’. 
         The man in turn attributes the growth of his  business empire to his wife  Vandana, reaffirming  the fact that ‘Behind every successful man there is a woman’. “My wife Vandana, who is the Finance Director of Al Adil, takes keen interest in the growth and financial development of the company,” quips Datar. 
       New to the business block is Datar’s elder son Hrishikesh, who is currently the Business Development Manager at Al Adil. Datar believes that the ideas, inputs and business approach of the new generation greatly support the growth and expansion of his business in the Gulf. 
       The Forbes ranking is the result of in depth research and analysis into Indian professionals residing and/or operating businesses in the Arab World. Forbes Middle East serves as a major reference point for business information and collaboration, supporting key decision makers and investors across the region’s sectors, as well as furthering the economic development of the Arab world. This recognition is bound to yield good results for the global economy. 
         Al Adil Trading under the dynamic leadership of Dr. Dhananjay Datar  has been instrumental in bringing 9000 Indian products in the UAE. Al Adil  has a network of 36 supermarkets, 2 flour mills and 2 spices factories in Dubai, Abu Dhabi, Sharjah and Ajman and also a branch of Mumbai Export Division in the name of Masala King Exports (India) Pvt. Ltd in Mumbai, India. Al Adil is on an active expansion mode and has recently opened new outlets in Oman and Bahrain. The company has also diversified into import and export under the special class establishment with trade lines in the US, Canada, Tanzania, Kenya, Switzerland, Italy and Eritrea as well as Kuwait, Oman and the UAE.         











                                           source:BI
                       

Saturday, 26 August 2017

DLF to sell 40% stake in rental arm to GIC

DLF to sell 40% stake in rental arm to GIC

Rs.11900 Cr.  LARGEST PRIVATE EQUITY DEAL

         The DLF board on Friday approved the sale of 40% equity held by DLF’s promoters in its rental arm DLF Cyber City Developers Limited (DCCDL) to an affiliate of Singapore-based GIC Real Estate for Rs.11,900 crore, terming it one of the largest private equity transactions in Indian real estate. 
     In a statement to the stock exchanges on Friday evening, DLF said the expected post-tax consideration from the deal is expected to be in excess of  Rs.10,000 crore, a substantial portion of which will be invested in the company.
Source:googleimage

Debt reduction

DLF’s net debt is close to Rs. 26,000 crore, hence the deal which has been in the works since late 2015 could come as a boost in the arm for its deleveraging plans. The proposed transaction, that will still need corporate and regulatory approvals, implies an enterprise value of Rs. 35,617 crore for DCCDL. Following the completion of the deal’s various aspects, DLF would hold 66.66% equity shares and GIC affiliate Reco Diamond shall hold 33.34% equity shares in DCCDL.  GI
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C is Singapore’s sovereign wealth fund. DLF said the transaction shall create one of the leading platform play for rental properties, with rent yielding assets of 26.9 million square feet (msf ). 


Development potential 

The portfolio, currently, has an under development pipeline of approximately 2.5 msf with further development potential of 19 msf, it added. Separately, the board also approved raising Rs. 2,500 crore through debt instruments such as non-convertible debentures, subject to a nod from its shareholders.



Thursday, 24 August 2017

Tuesday, 22 August 2017

Greece, powerful economic country is on verge of being bankrupt(DIWALIA).

Greece, powerful economic country is on verge of being bankrupt(DIWALIA).

You will be astonished reading the article that this beautiful country is going to be bankrupt.




        We all know very well that Greece economy was very powerful and dreamed of winning world. Now a day Greece is struggling with financial crisis for last few years. Initially it had a large amount of capital but but due to decline in the capital and investment in the country, it borrows the money from the international monetary fund (IMF) of amount 11 million crores. He had to pay his first installment of 12 thousand crores on 30 june but he was anable to such a huge amount and bank refuses to extend the date of installment.



        Besides above IMF imposed some certain condition on the Greece and if it refuses to follow that condition then it will be debarred from the European Union and Euro Zone. Greece's Prime Minister Alexis Cipras has declared the country's banks to be closed for 7 days. The people of the city have been allowed to withdraw from ATM only up to 60 euros. One more tense has been raised that all the foreign transactions has been banned. All the European mankind are worry about the currency that if the euro was converted into an old currency drachma then there would be no value for the currency.

        As I mentioned above that it has huge capital initially and it affected the other country’s economy. In the same way due to decline in its capital other country are being affected. The stock market of japan, Hong-Kong including India are being affected and declining gradually. Economist considered that this abrupt decline in the capital of Greece’s economy was earth quake that happened in 1999. In the earthquake tremendous buildings were incaved due to which re-habitation was required. Hence 50000 buildings were rebuilt from government money. One accused on the Greece has been imposed that it spent more money on the Olympic Game in 2004 than decided. . If he failed to pay the IMF loan, nobody would save him from becoming the first defaulter of the 21st century. When a defaulter is declared, it will have to implement its old currency drachma. IMF has extended the deadline for repaying the loan on July 20. Hence it is on the verge of being bankrupt.

Monday, 21 August 2017

Utkal Express Derailment in muzaffarnagar Uttar Pradesh

Utkal Express Derailment in muzaffarnagar Uttar Pradesh

       Utkal Express Derailment in muzaffarnagar Uttar Pradesh on 19/08/2017


       At least 23 persons were killed and around 400 injured when 14 coaches of the Puri-Haridwar Utkal Express derailed on Saturday evening at Khatauli, near Muzaffarnagar, Uttar Pradesh police officials said. It was 5.46 p.m. on Saturday when the Haridwarbound train derailed immediately after it crossed the Khatauli station. National Disaster Response Force (NDRF) personnel told The Hindu that the number of dead could rise as several passengers were still trapped in the wreckage. Officials said 100 persons were seriously injured. Rescue operations have slowed down after darkness. The Railway Ministry is yet to comment on the reason for the accident. Of 14 derailed coaches, three were third AC coaches and the rest were sleeper coaches.
 

Sudden brakes 

      Senior Railway Ministry officials present on the spot told The Hindu that “though the investigation is yet to be concluded but preliminary probe suggests that the driver of the Kalinga Express had applied sudden brakes as he found repair works going on the track which led to the accident. Two National Disaster Response Force (NDRF) teams, comprising 45 personnel each, and two canines have been mobilised to the accident site from their base in Ghaziabad. Anti-terrorist squad An accident alert has been issued to all the hospitals in Meerut and the National Capital Region Uttar Pradesh anti-terrorist squad has reached the site too on the instructions of state ADG (law and order) Anand Kumar. Meanwhile Chief Minister Yogi Adityanath and Railway Minister Suresh Prabhu announced an ex-gratia of ₹3.5 lakh for kin of dead, ₹ 50,000 for the seriously injured and ₹25,000 for those with minor injuries. Mr Adtiyanath has announced ₹2 lakh for the families of the deceased and ₹ 50,000 for those injured.

PM condolence 

         Prime Minister Narendra Modi expressed extreme pain over the accident.

BJP Odisha MLA Rabi Narayan Naik met those injured in a hospital in Muzaffarnagar earlier  on 20/08/2017.
Image source: NDTV