Shocker! BR Shetty s company that owns UAE Exchange sold for $1
Agencies
December 18, 2020
Abu Dhabi, Dec 18: UAE-based Indian billionaire BR Shetty’s company Finablr Plc is getting ready to selling its business to an Israeli-UAE consortium for $1, capping the collapse of a business that had a market value of 1.5 billion pounds ($2 billion) last December.
Finablr, the scandal-marred platform for payments and foreign exchange solutions, announced that it has entered into ‘a definitive agreement’ with Global Fintech Investments Holding (GFIH), an affiliate of Prism Group of Israel, to sell to GFIH the entire issued share capital of Finablr Limited.
Prism Group, linked to a former Israeli Prime Minister Ehud Olmert, has formed a consortium with Abu Dhabi s Royal Strategic Partners (RSP) in connection with the transaction. RSP, which is headed by Abubaker Al Khoori, is affiliated with Sheikh Hazza bin Zayed Al Nahyan, Vice Chairman of the Abu Dhabi Executive Council.
Karnataka CM Yediyurappa doles out cabinet rank to 17 MLAs
News Network
December 17, 2020
Bengaluru, Dec 17: In an apparent bid to buy peace, Karnataka Chief Minister B.S. Yediyurappa on Wednesday offered Cabinet ranks to as many as 13 BJP legislators who are heading various boards and corporations.
Four legislators have been given Minister of State rank, according to notifications issued by the government.
Many of these 17 legislators were lobbying hard to become ministers in Yediyurappa s Cabinet, which is due for an expansion or reshuffle.
According to the sources close to Yediyurappa, by giving them Cabinet and MoS ranks, Yediyurappa is said to have stemmed growing discontent in the party and also sent a signal that they cannot be accommodated in his council of ministers.