Bahrain based Investcorp acquired German cybersecurity company Avira for $180 million. Courtesy of Investcorp
Bahrain based Investcorp acquired German cybersecurity company Avira for $180 million. Courtesy of Investcorp

Business

Investcorp appoints HDFC Chairman Deepak Parekh to advisory board

Mr. Parekh has been chairman of Indian financial services conglomerate HDFC since 1993

Mahmoud Kassem

September 12, 2017

Investcorp, a Bahrain-based alternative asset firm with US$21.3 billion of assets under management, said that Deepak Parekh, Chairman of HDFC Limited, the Indian financial services conglomerate, has been appointed to the firm's international advisory board.

"It is an honour to welcome Deepak onto our International Advisory Board," said Mohammed Alardhi, Executive Chairman of Investcorp.

"As someone who is globally recognized and deeply respected for his insights and guidance by both multinationals and policy makers, Deepak brings to us and our International Advisory Board a new perspective that will only enhance our ability to become one of the world's leading alternative asset managers."

Mr. Parekh has been Chairman of HDFC since 1993 and has been with the group since 1978. Before that, he held senior positions with Chase Manhattan Bank and Grindlays Bank. He is also the non-executive chairman in India of Siemens, GlaxoSmithKline, and BAE Systems India.

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"Investcorp is driving an ambitious phase of growth which is guided by a vision to transform itself into one of the world's leading diversified global asset managers," Mr. Parekh said.

"In a short period of time the team has delivered a doubling of assets under management, broadened its investor base and expanded its product lines for its clients. I am truly excited to be joining the Advisory Board at this transformational time and look forward to working with the Investcorp management team and my fellow international advisory board."

Investcorp, in which Abu Dhabi’s Mubadala Investment Company is the largest shareholder with a 20 per cent stake reported in August a 34 per cent year-on-year increase in net profit to $120.3 million from $90.1m in the financial year that ended in June.

UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

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Three ways to limit your social media use

Clinical psychologist, Dr Saliha Afridi at The Lighthouse Arabia suggests three easy things you can do every day to cut back on the time you spend online.

1. Put the social media app in a folder on the second or third screen of your phone so it has to remain a conscious decision to open, rather than something your fingers gravitate towards without consideration.

2. Schedule a time to use social media instead of consistently throughout the day. I recommend setting aside certain times of the day or week when you upload pictures or share information. 

3. Take a mental snapshot rather than a photo on your phone. Instead of sharing it with your social world, try to absorb the moment, connect with your feeling, experience the moment with all five of your senses. You will have a memory of that moment more vividly and for far longer than if you take a picture of it.