Veerappan Special Pages

Veerappan shot dead in Satyamangalam forests

Oct 18: Notorious sandalwood smuggler Veerappan and three of his gang members were shot dead by the Special Task Force(STF) in the Satyamangalam forest area on the border of Tamilnadu and Karnataka, said official sources. The combined task force of officials from Tamilnadu and Karnataka led by Vijayakumar IPS, a Malayali officer had been searching for Veerappan the past few days. The encounter which took place at Papparapetty village in Dharmapuri district at around 10.55 pm on Monday night lasted for over 20 minutes. Veerappan and his fellow gang members Sethukuli Govindan, Chandra Gowda and Govindan were trying to escape in a vehicle, when they were spotted and shot dead. The dead bodies of Veerappan and his gang members have been taken to Dharmapuri government hospital. The Tamilnadu government has officially confirmed his death.

Veerappan has been a nightmare for above 20 years to both the Tamilnadu and Karnataka governments. There are cases of more 120 murder, sandalwood smuggling as well as for poaching elephants. He had abducted famous filmstar Rajkumar and kept him in captivity. Ex-Karnataka Minister Nagappa was also kidnapped and he was later on killed and his body was left in the Chengadi forest. With his death, one of the biggest gangsters in the Indian history has been eliminated. -Keralamonitor.com More

October 12, 2004

UAE PETROL RETAILERS LOSE MILLIONS AT THE PUMP DAILY

Service Stations Might Run Dry

It may seem inconceivable but motorists in the UAE may soon find themselves lining up to buy petrol.

Purchasing refined petrol at AED 6.75 per gallon but allowed by the authorities to sell at only AED 4.75 per gallon, the country’s gasoline retailers incur a substantial loss estimated at about AED 4.1 million daily, especially now that world crude prices have reached more than US$ 50 per barrel. EPCCO/ENOC, with more than 160 service stations in Dubai and the Northern Emirates, loses upwards of AED 1.4 million a day.

An industry spokesman said that a business incurring losses of that magnitude is clearly not sustainable in the long term, unless the companies have either access to subsidised products or retail prices are increased by as much as AED 2 per gallon.

The source said that while petrol retail pump price is set by the Federal Government, retailers like EPPCO that don’t have access to crude oil of their own need to buy product at high international market prices. “Over the last 5 years, EPPCO lost a total of about AED 450 million because of the high product acquisition cost,” said an EPPCO source.

Unlike other GCC and Asian countries, the UAE Government does not subsidise the retail marketing companies to sell petrol at the regulated prices. In effect, the distribution companies themselves subsidise UAE motorists, who enjoy some of the lowest petrol prices in the world.

With the serious negative impact on cash flows, the retailers have difficulty replenishing stocks and industry insiders fear that this could lead to some service stations running dry -- or petrol sales shutting down completely.

“The retail companies have invested their pre-2000 earnings in new stations in developing areas in all Emirates -- particularly in rapidly expanding Dubai,” the source said. “Even when the companies started to lose money, the investments in building bigger and better service stations continued in line with the development of the country, with the hope that international crude prices will turn around to enable them to again make a margin.”

He added that ENOC alone built 7 stations under the ENOC brand over the last 12 months but these have been “mothballed” with only security guards in attendance as to open them would mean increasing petrol sales and incurring even greater losses.

“We have exhausted banking facilities and the banks will no longer finance our petrol purchases,” the EPPCO spokesman said. “For the first time in our corporate history, our balance sheet is negative and we have no funds to buy petrol. The situation is doubly ironic because if we do buy petrol to sell, we will only lose more money.”

ENOC admitted that by the end of this month – because of factors beyond its control – its entire EPPCO/ENOC network will most probably stop selling petrol. “Some of our bigger service stations might run dry before that,” it added.

However, ENOC will continue selling diesel and will keep on running its EPPCO/ENOC convenience stores, car wash, quick oil change facilities and food outlets as normal and hope that a quick solution can be found to the petrol retailing problem.

Industry sources advised that the UAE Government is aware of the financial burden the retail companies are faced with. However, to date, no decision has been made on whether some sort of Government subsidy scheme will be put in place to help the petrol retail companies to continue to trade and supply fuel to the public or allow a substantial increase in petrol retail pump prices.

Sexual Assault of Woman Soldiers Mounting in US Army: Report

The US military investigated 1,012 allege-d cases of sexual assault last year, compared to 901 the previous year. Among one of the most publicized at the time was the rape of Sgt. Andra Wood at a desert post in Kuwait in November. Wood - a member of the 3rd Brigade, 2nd Infantry Division in Fort Lewis - was hit in the back of the head near the showers at Camp Udairi shortly after she got off guard duty in the middle of the night.When she regained consciousness, she was tied, gagged and unclothed. Read the Full Report about Sexual Assault and Rape in US Military

Ten Reasons why America Should Quit Iraq

GULF AIR THE FIRST MIDDLE EASTERN AIRLINE TO LAUNCH
DEDICATED HOLIDAYS PROGRAMME TO INDIA

Manama, Bahrain: With the launch of the 72-page Indian Experience brochure, Gulf Air is the first Middle Eastern airline providing a dedicated programme of leisure travel packages to the sub-continent.

As the largest foreign-owned carrier into India, Gulf Air offers travellers more seats and flight frequencies to fascinating locations across the country from the vibrant city life of Mumbai and Delhi to the stunning scenery of Kochi and Chennai. These destinations along with Trivandrum, Kolkata and Bangalore, offer easy access points from which to explore this incredible country.

"For many, a trip to India is the opportunity to experience an exotic lifestyle, unlike any other, anywhere in the world," said Mark Senior, Manager Destination and Leisure Marketing for Gulf Air. "You can live like a Maharaja in the rich ambiance of royal forts and palaces that are now heritage hotels, or lounge by the pool at a beach-front resort."

Gulf Air Holidays offers a range of diverse and culturally rich experiences that will satisfy even the most discerning traveller. Destinations include the majestic Himalayan Mountains, the sun-blessed sandy beaches, impressive luxury hotels, or backwater house boats.

A visit to India is not complete without sampling the ancient science of Ayurveda. Gulf Air Holidays features a variety of properties offering Ayurvedic spa treatments. There are also health resorts that feature total rejuvenation packages based on these principles.

Gulf Air Holidays Indian Experience provides flexible, leisure travel packages covering more than 20 destinations across the country. Travellers can tailor-make their arrangements to suit their individual requirements. Whether it's a quick getaway or a leisurely tour of the countryside, travellers can choose from short-break city packages, seven to ten day chauffeur-driven tours of key tourist destinations or resort packages.

For more information on Gulf Air Holidays Indian Experience or to book your next holiday, call Gulf Air Holidays, your travel agent or visit your nearest Gulf Air office.

About Gulf Air
Gulf Air was founded in 1950. Today, it is owned by the Kingdom of Bahrain, Oman and the UAE and is the only truly pan Gulf carrier in the region. The airline's network stretches from Europe to Asia and covers more than 50 cities in 32 countries. The fleet is one of the most modern in the Middle East and comprises 35 aircraft.

The airline is in the second year of a three-year strategic recovery programme, headed by President and Chief Executive, James Hogan. The airline's aim is to further evolve by taking its renowned cultural strengths, technical expertise, modern fleet and professional management team which have been developed over more than half a century, into a global competitive environment.

Gulf Air was recognised with the prestigious Airline Turnaround of the Year Award by the Centre for Asia Pacific Aviation (CAPA) in 2003 and it was selected as a one of the leading and most recognised brands in the UAE by the Superbrands Council. The airline also received the top honour of a platinum award for being voted the Best Middle East and North Africa Airline at the 2004 Arabian Travel Market's inaugural MENA Awards. The airline also was named the winner of the Excellence in Quality Improvement category of the 2004 Skytrax Airline Excellence Awards, the world's largest survey of passenger attitudes towards airlines.

BAHRAIN’S FIRST LEASING BANK UNVEILED

US$50m Medical Equipment Fund Launched

MANAMA - 11/10/04 First Leasing Bank (FLB), the first Bahrain-based bank dedicated exclusively to the introduction and expansion of equipment leasing throughout the Gulf Cooperation Council (GCC) countries, was launched today. It will provide its primary leasing products, Finance Leases and Operating Leases, to commercial and government sectors.James A Cracco, CEO, First Leasing Bank( Click photo for detailed view.)

“With the launch of FLB we are now poised to become the premium leasing bank in the GCC,” said Khalid Abdulla-Janahi, Chairman of the Board of Directors, FLB. “First Leasing Bank will make leasing an integral and sophisticated force in the capital formation structure of GCC companies and institutions.

“Highly adaptive to individual customer needs, leasing is not merely a matter of regular payments for use of equipment. Payments can be structured to reflect variable client cash flows and budget timing, allowing for a better use of working capital and improved liquidity.”

As opposed to traditional financing, FLB will finance 100% of the asset without down payments or compensating balances, and will finance the asset for the entire term of use without periodic renegotiation of terms.The bank, incorporated under a licence, acquired in August 2004, by the Bahrain Monetary Agency, is a joint venture formed by Bahrain based Ithmaar Bank ,

US based Overland Capital Group, Bahrain based Gulf Finance House B.S.C; and Kuwait based Gulf Investment House.“The shareholders and management team have a unique combination of experience, background and financial acumen, key to providing the Gulf with an unequalled combination of local knowledge and international experience in lease-financing,” said James A Cracco, CEO, FLB. “More than just a leasing company, FLB is a provider of high quality asset based financing for lessees, investors and vendor partners.”

In addition to the inauguration of the bank, was the launch of the US$ 50 million FLB Gulf Medical Equipment Fund, which expects to offer investors returns on investment of 3% per annum above the six month LIBOR.

The fund offers individuals and institutions an opportunity to invest in the modern and growing Gulf medical equipment market, through leasing equipment to private and government healthcare facilities and hospitals. Investments in the fund will be a minimum of US$ 250,000 or multiples of that sum.

Cracco said: “Healthcare is one of the region’s fastest growing industries. Almost every GCC country is announcing new hospital and clinic developments. First Leasing Bank is committed to funding the equipment for these projects. “We will create an investment portfolio of the newest and most sophisticated medical equipment from world leading manufacturers, providing an attractive income flow and low to medium capital risk.”