Connect with us


UAE-based billionaire Yussuf Ali’s Lulu Group enters Uttar Pradesh with grocery store



Identified for its sprawling enterprise pursuits worldwide, billionaire Yussuf Ali-led Lulu Group is now coming into northern India with one of many largest supermarkets in Uttar Pradesh, after having a distinguished presence within the southern components of the nation for the previous a few years.

From supermarkets to meals processing to realty to monetary providers, the Abu Dhabi-based group runs its fashionable supermarkets within the cities of Kochi, Bengaluru and Thiruvananthapuram. And from Monday, its expansive grocery store in Lucknow will likely be open to the general public.

The 66-year-old Yussuf Ali M A, the driving pressure behind the group and an affable and well-connected businessman, has been increasing his enterprise actions over time and the newest grocery store in Lucknow would even be one of many greatest investments to come back into the BJP-ruled Uttar Pradesh, the biggest state of the nation by inhabitants.

A distinguished title in South India, particularly in Kerala, the native place of Ali, Lulu Group is especially recognized for its sprawling supermarkets. The group, with pursuits in a number of enterprise areas, together with actual property, has a big presence in lots of Gulf nations in addition to the US, the UK, Italy and China, amongst different nations.

Born within the Thrissur district of Kerala the place he did his education earlier than shifting to Gujarat to pursue enterprise administration, Yussuf Ali is just not solely recognized for his enterprise success but in addition for his philanthropic methods.

He left the nation in 1973 for Abu Dhabi to hitch the EMKE Group of firms. He based Lulu Hypermarket in 2000 and now has operations in 22 nations throughout the Center East, Asia, the US, and Europe. It has 235 retail shops in whole.

LuLu Hypermarket, the retail division, has been referred to as a development setter of the retail trade within the area. It operates over 200 shops and is immensely fashionable with discerning buyers throughout the GCC, Egypt, India, Indonesia and Malaysia.

In accordance with info accessible on Lulu group’s web site, it has 18 hypermarkets and seven buying malls within the pipeline.

LuLu Group, with its 57,000-plus sturdy workforce from 42 completely different nations, has an annual turnover of USD 8 billion globally, as per the web site.

The group operates retail shops, supermarkets, department shops, buying malls and hypermarkets. The corporate produces and processes meat merchandise, manufactures and exports silk, clothes, sources, and exports numerous agro-products, cashew nuts, espresso, rice, pulses, fruits, meat, fish, greens, footwear, textiles, baggage, electronics, and family articles.

Apart from retail, Lulu Group additionally has a presence in companies resembling meals processing, and commodities buying and selling non-public labels. It’s the foremost supplier of meals and shopper items. It has two of the biggest meals processing services in India in Uttar Pradesh and Mumbai based by FAIR EXPORTS.

In accordance with media experiences, it is usually establishing a meals and vegetable processing unit in Larger Noida. Lulu Group can be current within the hospitality sector and owns five-star luxurious properties, massive conference centres and journey consulting firms.

LuLu Group India, the corporate’s Indian subsidiary, has stretched its operation in hypermarkets, buying malls, meals processing items, e-commerce and enjoyable stations.

Final 12 months, LuLu Group Worldwide’s brand-retailing unit Tablez launched ‘Home of Toys’, India’s first world children’ tremendous retailer at Bengaluru.

Apart from, it’s increasing ‘GO Sport’, which is a one-stop organised sports activities retailer with a number of energy manufacturers and personal labels.

Tablez has various pursuits in trend, speciality retail, and meals and drinks in GCC and India. It has plans to open over 100 shops in India in 2022.

The group’s operational bases are unfold throughout the UAE, Oman, Qatar, Kuwait, Bahrain, Saudi Arabia, Egypt, Indonesia, Thailand, Vietnam, Malaysia, Philippines, China, Sri Lanka, Kenya, Uganda, South Africa, Turkey, Spain, Italy, UK, USA and India, in accordance with the web site. Yusuff Ali is the chairman and managing director of LuLu Worldwide Purchasing Mall Kochi, Kerala and LuLu Worldwide Conference Centre Thrissur, Kerala. Amongst different positions, he’s the Vice-Chairman – Non-Resident Keralites Affairs Division (NORKA ROOTS), Authorities of Kerala.

He’s additionally a former member of India’s Prime Minister’s International Advisory Council from 2008-2014.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published.


FIFS names Pleasure Bhattacharjya as director-general



The Federation of Indian Fantasy Sports activities (FIFS), has introduced the appointment of Pleasure Bhattacharjya as its director-general. On this position, Bhattacharjya will oversee the functioning of the physique and work with policymakers and business stakeholders alike.  

“Glad to have Pleasure Bhattacharjya be a part of FIFS because the director-general. FIFS will profit from his sports activities experience and data of fantasy sports activities,” Bimal Julka, chairman, FIFS, mentioned.  

Bhattacharjya runs the Prime Volleyball League and is a cricket analyst with Cricbuzz. Because the mission director for the FIFA U-17 World Cup, 2017 he delivered probably the most attended and profitable junior event within the historical past of FIFA. In his earlier roles he has held the place of the workforce director for the Kolkata Knight Riders, head of programming for Historical past and Nationwide Geographic channel for South Asia and was the primary Indian head of manufacturing at ESPN Star Sports activities. 

“I’m elated to be part of the following stage of growth of Fantasy Sports activities within the nation. It’s a homecoming for me in a means, from launching the Tremendous Selector in 2000, to now main FIFS – India’s solely SRO for Fantasy Sports activities. I look ahead to working with the FIFS members and the stakeholders at massive and assist FIFS establish the panorama and potential for India to be the worldwide chief within the Fantasy Sports activities sector,” Bhattacharjya said.  

Shaped in 2017, the Federation of Indian Fantasy Sports activities (FIFS), earlier referred to as the Indian Federation of Sports activities Gaming IFSG, was established to guard client curiosity and create standardised finest practices within the Fantasy Sports activities business. FIFS goals to set extraordinarily excessive requirements for the self-regulation and operational effectivity of the Fantasy Sports activities business. 

Learn Additionally: Loco groups up with FIFAe to deliver FIFAe Pinnacle Occasions to India

Comply with us on TwitterInstagramLinkedIn, Fb

Continue Reading


Delhi Covid Replace: Capital provides 601 COVID-19 circumstances, positivity fee of three.64%



Delhi on Friday logged 601 contemporary COVID-19 circumstances with a positivity fee of three.64 per cent, whereas no new fatality as a result of viral illness was recorded, in accordance with knowledge shared by the well being division right here.

With this, the capital’s COVID-19 caseload climbed to 19,43,026. The dying toll stands at 26,289, the bulletin acknowledged.

The contemporary circumstances got here out of 16,499 exams performed the day gone by, it stated.

Delhi on Thursday recorded 520 COVID-19 circumstances with a positivity fee of three.44 per cent and one dying.

Town logged 490 circumstances with a positivity fee of three.16 per cent and three deaths.

On Tuesday, the capital recorded 400 circumstances with a positivity fee of two.92 per cent and one dying.

Of the 9,490 beds for COVID-19 sufferers in Delhi hospitals, solely 108 have been occupied on Friday. Beds at Covid care centres and Covid well being centres are mendacity vacant, the bulletin stated.

The variety of lively COVID-19 circumstances in Delhi stands at 2,010, up from 1,935 the day gone by. As many as 1,313 sufferers are beneath dwelling isolation, it stated.

There are 218 containment zones within the metropolis, it added.

Delhi has reported a number of circumstances of the BA.4 and BA.5 sub-variants of Omicron, that are extremely transmissible, however consultants have requested folks to not panic as these sub-variants don’t trigger extreme an infection.

The variety of day by day COVID-19 circumstances in Delhi touched the report excessive of 28,867 on January 13 through the third wave of the pandemic.

Town had recorded a positivity fee of 30.6 per cent on January 14, the very best through the third wave of the pandemic.

Continue Reading


US Shares: Wall Road climbs as buyers trim bets on supersized fee hike



U.S. shares climbed on Friday as upbeat retail gross sales knowledge allayed some considerations about an imminent recession, whereas buyers scaled again bets of a supersized rate of interest hike this month after feedback from Federal Reserve policymakers.

The benchmark S&P 500 and the blue-chip Dow rose after a five-day run of losses, which have been largely fanned by worries of a 100 foundation factors fee hike on the July coverage assembly following sizzling inflation knowledge.

Shifting rates of interest too dramatically may undermine the optimistic traits nonetheless seen within the financial system and add to the already great amount of uncertainty, Atlanta Fed President Raphael Bostic stated.


HDFC Financial institution Q1 end result preview: Anticipate sturdy income, enterprise development to proceed; eyes on merger replace

stocks to watch, stocks in focus, acc, cipla

ACC, Cipla, Bharti Airtel, Cipla, Angel One, Tata Elxsi, Jindal Metal and Energy, Tata Metal shares in focus

stock markets, stock market, nifty, sensex

HCL Applied sciences, TCS, Wipro amongst 28 shares to hit 52-week low on BSE, 66 scrips at recent highs

Rupee vs dollar, rupee value, rupee fall, usdinr

Rupee falls to hit 80 mark briefly, could depreciate additional on robust US greenback, pessimistic market sentiments

Two of the Fed’s most hawkish policymakers on Thursday stated they favored one other 75 bps fee improve this month.

“The talk of a fee hike of a 100 foundation factors was preserving the market on edge,” stated Peter Cardillo, chief market economist at Spartan Capital Securities.

“If we must always handle to shut round yesterday’s ranges, it’s extra proof of the markets having priced in a reasonably respectable earnings season, and an excessively aggressive Fed.”

Knowledge on Friday confirmed U.S. retail gross sales rebounded strongly in June as People spent extra on gasoline and different items amid hovering inflation.

In the meantime, a College of Michigan survey confirmed U.S. customers tempered their inflation expectations in July alongside a pointy drop in gasoline costs over the previous month.

The most recent knowledge and feedback from the Fed audio system drove merchants to reduce bets of a full percentage-point rise fee hike on the upcoming assembly. The chances stood at about 30% after rising to almost 80% earlier this week, in response to the CME Group’s Fedwatch instrument.

Banks earnings additionally hit full stride, with Citigroup, leaping 8.5% as robust buying and selling exercise within the second quarter helped offset a hunch in funding banking.

Wells Fargo gained 6.0% even because it put aside extra money to cowl potential mortgage losses.

Financial institution shares took a beating within the earlier session after Morgan Stanley and JPMorgan Chase & Co kicked off earnings season by reporting falls in income and sounded cautious on financial headwinds forward.

At 10:13 a.m. ET, the Dow Jones Industrial Common was up 507.72 factors, or 1.66%, at 31,137.89, the S&P 500 was up 50.87 factors, or 1.34%, at 3,841.25, and the Nasdaq Composite was up 120.63 factors, or 1.07%, at 11,371.81.

BlackRock edged up 0.1% regardless of posting a bigger-than-expected quarterly revenue drop.

UnitedHealth Group Inc rose 4.1% after elevating its full-year revenue forecast for a second straight quarter, as robust gross sales at its Optum unit helped it prime quarterly outcomes.

Shares of Pinterest rallied 13.2% following a information report that activist investor Elliott Administration has taken a greater than 9% stake within the social media firm, citing individuals accustomed to the matter.

Advancing points outnumbered decliners by a 3.08-to-1 ratio on the NYSE and 1.53-to-1 ratio on the Nasdaq.

The S&P index recorded one new 52-week excessive and 31 new lows, whereas the Nasdaq recorded 17 new highs and 69 new lows.

Continue Reading