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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 high marks RAISE QUERIES

2019-05-03

This year’s results have broken records in high scoring but also raised questions about the system of assessment. Three students have obtained 498, and each of them was from the humanities stream too.  “The model answers available on the CBSE website clearly indicate that the students are discouraged from developing critical thinking, conceptual understanding and the application of knowledge,which is closer to memorisation than conceptualisation.” “A score of 80 per cent now is equivalent to a score of 50 per cent from earlier decades. The students are scoring 100..

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Ew, what next? Scrabble lets slang into dictionary.

2019-05-03

A foreign word, an abbreviation and a piece of slang to denote disgust are among the latest terms to gain entry into the official list of Scrabble words. It is enough to make sticklers for the game’s rules say: “Ew.” While “ew” had been banned from the list used for international competitions, the word, defined as an expression of disgust, is among 2,862 additions to Official Scrabble Words.  Perhaps the most controversial addition is “ok”, which was previously banned because it is an abbreviation. Other new words in the list include bae, blud ..

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INFLATION- mirage or monster?

2019-05-02

Inflation as measured by the Consumer Price Index is below the government set target of 4% for 8 months in a row despite volatile crude oil prices and not so sufficient rains in many parts of the country. But the chief of Monetary Policy Committee that’s entrusted with the job of keeping price rise at 4% with a room to move two percentage points on either side, and his deputy on Mint Street have different views on what the future holds, despite predictions that the gauge would be at 3.5-3.8% in the second half of the fiscal year. https://m.economictimes.com/news/economy/indicators/infl..

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'Super app' to place Reliance Jio in pole position!

2019-05-02

As Mukesh Ambani, Chairman and Managing Director, Reliance Industries, prepares to officially launch world's largest online-to-offline new e-commerce platform and give jitters to Amazon and Walmart-Flipkart, Reliance Jio is reportedly working on a "super app" that will provide over 100 services at one platform. Jio is now serving over 300 million subscribers in India as data and voice traffic has seen an unparalleled growth.According to experts, launching a "super app" at this juncture would put Reliance in a pole position to create India's WeChat, in the market wh..

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Saudi Prince bid to buy Manchester United but he was ‘flatly refused’!

2019-04-30

Mohammad bin Salman was reportedly planning on making a huge £3.8billion bid for United.  Saudi Arabia Crown Prince Mohammed bin Salman has given up on trying to tempt the Glazer family into selling Manchester United. Avi and Joel Glazer, the Premier League club’s current owners, have ‘flatly refused’ any takeover attempts as they want to take a more hands-on approach at Old Trafford, The Sun report.Bin Salman was reportedly planning on making a huge £3.8billion bid for Man United, small change considering he is reportedly worth in excess..

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Mythical beast “Yeti” footprints sighted by Indian army!

2019-04-30

The Indian army has claimed to have sighted “mysterious footprints” of a Yeti, a mythical creature of folklore in Nepal. Sharing the pictures of the 32x15-inch footprints, the army tweeted it’s mountaineering expedition team saw the creature’s footprints for the first time on April 9 and the creature has only been sighted at Nepal’s Makaru-Barun National Park in the past. 

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Ness Wadia sentenced to 2-year jail term in Japan for drugs possession

2019-04-30

The heir to the 283-year-old Wadia Group, Ness Wadia, has been sentenced to a suspended two-year jail term in Japan over possession of drugs while on a skiing holiday, the Financial Times reported on Monday. Wadia admitted to the possession of drugs saying that it was for his personal use, a court official told the Financial Times. The Sapporo District Court handed him a two-year prison sentence, which was suspended for five years, the report further added. According to Forbes, Ness Wadia is the eldest son of group chairman Nusli Wadia with a net worth of $7 billion. http..

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INDIAN CRICKET TEAM’S AMPED UP IT’S AGGRESSION

2019-04-29

What’s happening to our cricket players? Why are they all getting aggressive?? First.. Kohli then Hardik, Rohit, Ashwin and even Dhoni!  Kohli, in fact, started off in international cricket as somebody who had a chip on his shoulder, on the field and off it too. He could rant and rave, and mouth expletives that were easy to lip-read on television. He seems to have sobered down now, a wee bit, with experience and some great individual performances behind him. “On-field aggression can sometimes be a positive emotion. It boosts performance and can lift your game,&rdquo..

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MOST HONEST CITIES: THE READER'S DIGEST "LOST WALLET" TEST

2019-04-28

MOST HONEST: Hensiki, Finland-- wallets returned: 11 out of 12. “Finns are naturally honest” . “We are a small, quiet, closely-knit community. We have little corruption, and we don’t even run red lights.”  Honesty is an inner conviction. These are the nicest places in America. LEAST HONEST: Lisbon, Portugal-- wallets returned: 1 out of 12. Interestingly, our reporter learned that the two who returned the wallet weren’t from Lisbon at all—they were visiting from Holland. The remaining eleven wallets were taken, money and all...

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Who did the Greeks called “IDIOTS”?

2019-04-28

Ancient Greece was famously the birth place of democracy- the first recognisable elections happened in Greek city states around the 5th century BC. But even then not all people eligible to vote did so. There was even a special word to describe people who didn’t. 
And that word was: “IDIOT!”

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