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Saudi to charge $213,000 for permanent residency in step to boost economy

2019-06-23

Saudi Arabia has opened applications for a permanent residency program designed to attract foreign investment to the kingdom, but it will cost a hefty 800,000 riyals ($213,000).   There’s also a cheaper option, with a one-year renewable residency costing 100,000 riyals.    The so-called premium residencies will allow foreigners to buy property and do business without a Saudi sponsor, switch jobs and exit the kingdom easily and sponsor visas for family members, according to the website for registrations.   Along with paying high fee, applicants must be at least 21 years old, prove financial solvency and have a clean criminal record and bill of health.   The program approved in May is the latest sign of how the quest for non-oil revenue is prompting Gulf nations to rethink the role of foreigners in their societies.    It’s a landmark move in a region where many overseas workers are subject to some of the world’s most restrictive residency rules.    The United Arab Emirates approved a plan to allow wealthy foreigners to apply for a 10-year stay, while Qatar passed a law that’ll grant some permanent residencies.   The idea for a long-term Saudi residency program was first floated in 2016 by Crown Prince Mohammed bin Salman, as a part of his plan to reduce the economy’s reliance on oil and boost foreign direct investment.    At the time, he estimated the program would generate about $10 billion in annual revenue by 2020.   Wh..

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CBSE Class X exam to reward ‘creative answers’

2019-05-15

The Central Board of Secondary Education is planning some big changes in the pattern of questions for the Class X exams, from the current academic year, to reward “creative answers and discourage rote learning”.   As part of its ongoing reforms,  CBSE has decided to diversify the current format of  objective questions that carry 20 marks. But the bigger changes will happen in the theory portion worth 60 marks. These sections will now have fewer questions, with each given higher marks to encourage long form and creative answers.   ..

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QUIZ TIME! OPEN FOR ALL!!

2019-05-15

THE ELECTION QUIZ- PREDICT TO WIN! OPEN FOR ALL!!! Click on the link to take the quiz:-  https://forms.gle/tzEcpJBbBLtoK6jE7 Rules for the quiz:-  Few days to go for one of the biggest events in 2019- Election Results!! Here's your chance to gain something out of it, by using your knowledge and intuition. Presenting *The Election Quiz* Predict how many seats BJP and Congress would get, and stand a chance to win a Cash prize! ¬Person who predicts the no. of seats for BJP correctly, wins a cash prize of Rs. 2000. ¬Person who predicts the no. of seats for..

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PUBG toll on real troops!

2019-05-14

The Central Reserve Police Force has instructed commanding officers to enforce a ban on troops playing PUBG on their mobile phones following an internal survey that showed the jawans were getting addicted to the online gaming app. A senior CRPF officer posted in the paramilitary force's Delhi headquarters said the "addiction" had "affected the jawans' operational capabilities". "Many of them have stopped socialising with their fellow jawans," the officer said. "It has also led to sleep deprivation because of reduced physical activity. The cir..

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Venezuelan Opposition leader Juan Guaidó seeks Pentagon’s help.

2019-05-14

Venezuelan Opposition leader Juan Guaidó said on Saturday that he has asked his envoy to the United States to meet with Pentagon officials to “cooperate” on a solution to the South American country’s political crisis. Mr. Guaidó added that he had received word from China that the country would join a diplomatic effort between European and Latin American countries, known as the International Contact Group on Venezuela, to negotiate an end to the crisis.   Building pressure “We have instructed our Ambassador Carlos Vecchio to meet ..

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Dear Reliance Industries, Please Explain This Valuation Gap!

2019-05-14

Reliance Jio has invested close to Rs1,25,200 crore in fibre and tower assets but currently values them at Rs2,03,300 crore.   The Rs 78,100-crore gap is puzzling. How did the valuation of Reliance Jio Infocomm Ltd.’s fibre and tower assets increase by that much even though some of that infrastructure is yet under development? The numbers cropped up in a Reliance Industries Ltd. investor presentation. The country’s second largest company by market capitalisation has decided to demerge the tower and fibre infrastructure....    Read more at https://www.bloo..

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The Moon Is Shrinking, Wrinkling Due To Earthquakes!

2019-05-14

  Unlike our planet, the Moon doesn't have tectonic plates; instead, its tectonic activity occurs as it slowly loses heat from when it was formed 4.5 billion years ago.    As a result, the Moon has become about 150 feet "skinnier" over the past several hundred million years. ​ Washington:  The Moon is steadily shrinking, causing wrinkling on its surface and earthquakes, according to an analysis of imagery captured by NASA's Lunar Reconnaissance Orbiter (LRO) published Monday. A survey of more than 12,000 images revealed that lunar ba..

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Reliance entry to digitise 5 million Kirana stores by 2023!

2019-05-13

Richest Indian Mukesh Ambani-led Reliance Industries' entry into online retailing will help expand the current 15,000 digitised retail stores to over 5 million by 2023, a study of Bank of America Merrill Lynch said. As much as 90 per cent of India's USD 700 billion retail market is unorganised, made up mostly of neighbourhood kirana stores selling groceries and other sundries. These kirana stores are keen to upgrade their tech and this is driving a wave of modernization, the study said. "This is on the back of growing competition from modern trade and..

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Bangladeshis will be richer than Indians by 2030!

2019-05-13

The 2020s are set to be the Asian decade, with the continent dominating an exclusive list of economies expected to sustain growth rates of around 7%. India, Bangladesh, Vietnam, Myanmar and the Philippines should all meet that benchmark, according to a research note Sunday from Madhur Jha, Standard Chartered’s India-based head of thematic research, and Global Chief Economist David Mann. Ethiopia and Côte d’Ivoire are also likely to reach the 7% growth pace, which typically means a doubling of gross domestic product every 10 years. That’ll be a boon to per-capita inco..

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The man with all the toys

2019-05-13

India's richest man has sealed another deal in his battle with Amazon and Walmart for India's online retail market, which a Morgan Stanley estimate sees at $200 billion by 2028. On Thursday, Reliance agreed to purchase the 259-year-old British toy store chain Hamleys from C.Banner International Holdings for $88.5 million in cash in a transaction that will “catapult Reliance Brands to be a dominant player in the global toy retail industry,” said a statement. The 62-year-old businessman is quietly piecing together a network of p..

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Darkness study shines light on North Korea’s plight!

2019-05-12

North Korea’s economy may be in a worse state than previously believed if the low levels of light emanating from it at night, revealed in satellite spy photographs, are anything to go by. The images have long revealed the rogue state’s chronic shortage of energy; an almost complete blackout on the night map of east Asia, bordered by the bright lights of China on one side and South Korea on the other. Based on established links between night time “luminosity” and economic activity, a new study suggests that the North is poorer than had previously been estimated. Wo..

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