Business
Lulu Group plans to invest Rs.3,500 cr in Telangana

UAE-based retailer Lulu Group, which is all set to enter Telangana with its first Lulu Mall and Hypermarket, plans to invest Rs.3,500 crore in the state over the next five years.
Lulu group Chairman Yusuff Ali told a news conference here on Monday that Lulu Mall and Hypermarket in Hyderabad is likely to be inaugurated in August.
He said that the first project in Hyderabad is part of Rs. 500 crore investment that Lulu committed to the state.
With an investment of Rs 300 crore, the 5 lakh square feet mall will offer international shopping experience to the people of Hyderabad and its surrounding areas.
Earlier known as Manjeera Mall, it will be rebranded as Lulu Mall. It will host a mega Lulu Hypermarket with more than 75 local and international brands, 5 screen cinema with a seating capacity of 1,400, multi cuisine food court, and children’s entertainment centre.
Located at Kukatpally, the mall will generate employment for more than 2,000 personal.
Lulu Hypermarket will offer an extensive range of fresh produce and grocery and will have separate sections for fashion, home appliances, electronics, mobiles, IT, and lifestyle products under the brand names, ‘Lulu Fashion Store’ and ‘Lulu Connect.
There will also be special sections to support and promote the local Telangana based agricultural and trade sectors, to further boost the employment opportunity for local youth.
The Lulu Group will make an additional investment of Rs. 200 crore in an export-oriented modern integrated meat processing plant at Chengicherla with a production capacity of 60 tonnes per day. The project will generate employment for more than 2,500 people. Commercial operations are expected to start at the facility in the next 18 months.
Yusuff Ali said that Lulu Group’s investment in the state is the outcome of several discussions and an MoU it signed with the government of Telangana during industry minister K.T. Rama Rao’s visit to the World Economic Forum last year in Davos.
The Lulu Group also plans to invest another Rs 3,500 crore in Telangana over the next fives, including Destination shopping mall in Hyderabad with the investment of Rs 2,000 crore and Mini malls on the outskirts of Hyderabad and other major cities and towns in the state with an investment outlay of Rs 1,000 crore.
Lulu group also plans an agriculture sourcing and logistics hub near the Hyderabad Airport for facilitating exports and promotion of local Telangana produce across India and the world.
Other plans include a seafood procurement and processing center to support the fishing industry.
Rama Rao welcomed the investment and hoped that this will boost tourism in Telangana.
Hyderabad is the sixth city after Kochi, Thiruvananthapuram, Bengaluru, Lucknow, and Coimbatore where the group has its presence.
With its more than 250 Hypermarkets and 24 shopping malls across 22 nations, Lulu Group has been expanding rapidly in India with investments in food processing and retail projects in Ahmedabad, Chennai, Srinagar, Greater Noida, Varanasi.
Lulu Group under the Chairmanship of Yusuff Ali MA is headquartered in Abu Dhabi, has been known as a trendsetter of the retail industry in the Middle East and North Africa region.
It operates over 250 hypermarkets and supermarkets and is immensely popular with discerning shoppers across the GCC, Egypt, India, Indonesia, and Malaysia.
It also employs more than 65,000 strong workforce from 42 different nations, and has an annual turnover of $8 billion globally.
Exclusive
Calcutta HC allows NGO to distribute relief material in communal violence-hit Murshidabad

Kolkata, April 17: A single-judge bench of the Calcutta High Court, on Thursday, permitted a non-government organisation (NGO) to visit the communal violence-hit Murshidabad and distribute relief material among the affected people.
While granting permission to the NGO christened ‘Khola Hawa (Open Air)’, which was earlier denied permission by the district administration, the single-judge bench of Justice Amrita Sinha observed that there was no rule that organisations other than government bodies would not have permission to distribute relief materials at any place.
She also observed that the existing law and order problem could not be an excuse for denying permission, since the Central Armed Police Forces (CAPF) were already posted in Murshidabad.
The NGO approached the bench of Justice Sinha after the Murshidabad district magistrate denied permission for its members to visit the troubled spots in the district to distribute relief there. Parts of Murshidabad district in West Bengal have been on the boil last week after protests over the Waqf (Amendment) Act turned violent.
In the petition, the NGO alleged that while the district administration was allowing different political parties to reach the troubled spots with relief materials, the permission to the organisation was deliberately denied.
The matter came up for hearing on Thursday afternoon. The counsel for the NGO argued that there was no reason for the district magistrate to deny the permission since the state Director General of Police had already claimed that the situation at Murshidabad was currently more or less normal. “The NGO members want to go there to distribute relief items like tarpaulin, food, and medicines to those affected,” the counsel of Khola Hawa argued.
Although the state government opposed the arguments, Justice Sinha finally accepted the argument of the counsel of Khola Hawa and permitted the NGO to visit the troubled spots and distribute relief items there.
However, she maintained that only three members of a relief team should visit any troubled spot at a time for the time being. At the same time, these three team members would have to inform the district magistrate at least 24 hours in advance about their visit. The visiting team members, as per the court order, should also not make any provocative statements during the process of relief distribution that might trigger tension in the area again.
International
Extreme marine heatwaves tripled over past 80 years: Study

London, April 17: The number of days each year that the world’s oceans experience extreme surface heat has tripled over the past 80 years due to global warming, a new study has found.
Researchers found that, on average, the global sea surface saw about 15 days of extreme heat annually in the 1940s, Xinhua news agency reported.
Today that figure has soared to nearly 50 days per year, revealed the study published in the journal Proceedings of the National Academy of Sciences.
Global warming is responsible for almost half of the occurrence of marine heatwaves — periods when sea surface temperatures rise well above normal for an extended time.
The study, produced by a team of scientists from the Mediterranean Institute for Advanced Studies, the University of Reading, the International Space Science Institute, and the University of the Balearic Islands, also found that rising global temperatures are making extreme ocean heat events last longer and become more intense.
“Marine heatwaves can devastate underwater ecosystems. Extended periods of unusually warm water can kill coral reefs, destroy kelp forests, and harm seagrass meadows,” said Xiangbo Feng, a co-author of the study at the National Centre for Atmospheric Science at the University of Reading.
The impacts of marine heat waves extend beyond the ocean. The researcher warns that increased marine heatwaves could, in return, cause our atmosphere less stable leading to more frequent and powerful tropical storms in some regions.
“As global temperatures continue to rise, marine heatwaves will become even more common and severe, putting increasing pressure on already stressed ocean ecosystems. These increased marine heatwaves could, in return, cause our atmosphere less stable leading to more frequent and powerful tropical storms in some regions,” Feng said
Noting that human activities are fundamentally changing oceans, the study called for urgent climate action to protect marine environments.
Business
US tariff hikes no longer make economic sense: China

Beijing, April 17: A Chinese foreign ministry spokesperson said on Thursday that the United States’ 245 per cent tariff on certain products from China no longer makes economic sense.
It the US continues to play the “tariff numbers game”, it will pay no attention to it, according to the spokesperson, Xinhua news agency reported.
The statement came in the wake of White House’s statement that China faces tariffs of up to 245 per cent due to its retaliatory action.
China now faces up to 245 per cent tariffs on imports to the US as a result of its retaliatory tariffs, according to the White House Fact sheet.
This came after Beijing ordered its airlines not to take any further deliveries of Boeing jets in response to the earlier US decision to impose 145 per cent tariffs on Chinese goods.
According to the White House, the US President is open to making a trade deal with China, but Beijing should make the first move.
“More than 75 countries have already reached out to discuss new trade deals. As a result, the individualised higher tariffs are currently paused amid these discussions, except for China, which retaliated,” it said.
The White House also accused Beijing of banning exports to the US of gallium, germanium, antimony, and other key high-tech materials with potential military applications.
There are no winners in a trade conflict and the tussle between China and the US raises the risk of economic and geopolitical fallout, a report by S&P Global Ratings said this week.
Home to sizable manufacturing activities, Asia-Pacific is highly dependent on exports to the U.S. and China for growth. At the same time, Asia-Pacific depends on the US mostly for security.
The region could find itself pushed to take sides or walk a delicate line between the two large economies, the report stated.
To counteract tariffs, Asia-Pacific governments are exploring the formation of regional trade blocs or bilateral trade agreements. These efforts could accelerate, expediting the need to relocate supply sources and production.
China’s economic growth is seeing rising downside risk amid rising trade tensions with the US as its export engine falters from weaker global demand. The country’s domestic growth engine remains subdued, given the lingering real estate crisis, which is dragging down confidence.
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