Jaishankar conveys condolences on demise of Bahrain PM Prince Khalifa

 

Outside Affairs Minister S Jaishankar has passed on sympathies in the interest of the public authority and individuals of India to the Bahraini administration on the destruction of Prime Minister of Bahrain Prince Khalifa receptacle Salman Al Khalifa during his progressing visit to the Gulf country.

Sovereign Khalifa, one of the world's longest serving leaders, died on November 11 at 84 years old in the US where he was going through treatment for age-related sickness. He was covered on November 13.

The uncle of King Hamad container Isa al-Khalifa, Prince Khalifa had filled in as leader of Bahrain from 1970 until his demise, having gotten to work longer than a year prior to Bahrain's autonomy in 1971.

On a two-day visit to Bahrain from November 24 to 25, Jaishankar held chats on two-sided issues just as provincial and worldwide issues of shared interest with his Bahraini partner Abdullatif canister Rashid Al Zayani.

During the gathering, the outside issues serve passed on sympathies on the destruction of Prince Khalifa.

"Begun Bahrain visit with a warm gathering with FM Dr. Abdullatif canister Rashid Al Zayani. Passed on earnest sympathies on the dying of previous PM HRH Prince Khalifa container Salman Al Khalifa," Jaishankar tweeted late Tuesday night.

On November 13, the Embassy of India in Bahrain held a sympathy meeting on the destruction of Prince Khalifa.

"All the authorities and staff individuals from the Embassy were available on the event to offer appreciation to the left soul," the government office had said in an articulation.

Talking on the event, Ambassador Piyush Srivastava discussed the colossal commitments of the late leader in promoting the respective association, and about his unique consideration and fondness for the Indian people group in the Gulf realm.

The Ambassador additionally read out the sympathy message of Prime Minister Narendra Modi during the gathering.

A $23 bn manager is betting on India's struggling real estate sector

Companies News:

A Bahrain-based investment manager wants to fill a vacuum in lending to Indian property developers that have $18 billion of debt to repay, aiming to capitalise on a credit crunch that’s narrowed their borrowing options.

Investcorp Bank BSC, which manages about $23 billion of assets, plans to provide structured lending to developers faced with borrowing constraints, Executive Chairman Mohammed Mahfoodh Alardhi said in an interview in Mumbai. The company started its India operations in January after acquiring the private equity and real estate funds of IDFC Alternatives Ltd.

Investcorp’s push isn’t without risks. Developers are struggling as loans become harder to get from non-bank lenders whose own funding is drying up. The sector is trying to shrug off sluggish sales and price declines that followed a 2016 crackdown on cash as well as new consumer protection and tax policies. Annual debt repayments for developers stand at about Rs 1.29 trillion ($18 billion) against disposable income of Rs 570 billion, according to research firm Liases Foras.

“Real estate in India has headwinds but that’s where the opportunity set also stems from,” Alardhi said. “Core demand from end-users is there, developers need financing and there is limited supply.”

 The alternative investment manager aims to lend to residential developers even as other overseas investors from New York-based Blackstone LP to Toronto-based Brookfield Asset Management Inc. have focused on office space and commercial properties. That decision is a bet on housing demand from more than 400 million millennials in the world’s second most-populous nation, said Rishi Kapoor, co-chief executive officer at Investcorp.