The chairman of the Lulu Group has become the first recipient of Bahrain’s new golden visa for foreign nationals.
UAE-based Yusuff Ali was handed the visa in a ceremony attended by Bahrain's King Hamad and Crown Prince and Prime Minister Salman bin Hamad.
The visa is part of a plan to attract talent and boost the economy.
It is a very proud and humbling moment in my life to receive this honour
Yusuff Ali
“Obviously, it is a very proud and humbling moment in my life to receive this honour,” Mr Ali said.
He thanked King Hamad, Prince Salman and the government of Bahrain.
“I am sure this new permanent residency initiative will further boost Bahrain's image as one of the key investment and business hubs of the region as well as attract and retain new investors here," he said.
Mr Ali, 66, was presented with his golden visa at a ceremony at Riffa Palace.
Lulu, based in Abu Dhabi, is a major employer in the Gulf with more than 50,000 staff.
In April 2021, Mr Ali his wife, two pilots and two other passengers survived an emergency landing in the helicopter they were travelling in during bad weather in Kerala, India.
He spent time recovering after the accident.
Under previous rules, Bahrain residents could only get a renewable visa tied to their employment status.
A golden visa allows them to extend the visa for an indefinite period and provide a residence permit for close family members.
To qualify, a person must have lived in Bahrain for at least 5 years and earn an average salary of at least 2,000 Bahraini dinars ($5,306) a month.
Similar to the UAE’s golden visa programme, retirees, talented people who fit certain criteria and those who own real estate above a certain value can also apply.
There are 11 Lulu stores across Bahrain, and the kingdom has big plans for expansion which include a metro network and national exhibition centre.
Bahrain’s population is also set to expand, with five cities planned on newly constructed islands that will increase the kingdom's land area by more than 60 per cent.
At 183 square kilometres, Fasht Al Jarim is the largest and will become a hub for housing, tourism and logistics.
PROFILE OF CURE.FIT
Started: July 2016
Founders: Mukesh Bansal and Ankit Nagori
Based: Bangalore, India
Sector: Health & wellness
Size: 500 employees
Investment: $250 million
Investors: Accel, Oaktree Capital (US); Chiratae Ventures, Epiq Capital, Innoven Capital, Kalaari Capital, Kotak Mahindra Bank, Piramal Group’s Anand Piramal, Pratithi Investment Trust, Ratan Tata (India); and Unilever Ventures (Unilever’s global venture capital arm)
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Key recommendations
- Fewer criminals put behind bars and more to serve sentences in the community, with short sentences scrapped and many inmates released earlier.
- Greater use of curfews and exclusion zones to deliver tougher supervision than ever on criminals.
- Explore wider powers for judges to punish offenders by blocking them from attending football matches, banning them from driving or travelling abroad through an expansion of ‘ancillary orders’.
- More Intensive Supervision Courts to tackle the root causes of crime such as alcohol and drug abuse – forcing repeat offenders to take part in tough treatment programmes or face prison.
'My Son'
Director: Christian Carion
Starring: James McAvoy, Claire Foy, Tom Cullen, Gary Lewis
Rating: 2/5
RACECARD
6pm: Al Maktoum Challenge Round-1 – Group 1 (PA) $50,000 (Dirt) 1,600m
6.35pm: Festival City Stakes – Conditions (TB) $60,000 (D) 1,200m
7.10pm: Dubai Racing Club Classic – Listed (TB) $100,000 (Turf) 2,410m
7.45pm: Jumeirah Classic Trial – Conditions (TB) $150,000 (T) 1,400m
8.20pm: Al Maktoum Challenge Round-1 – Group 2 (TB) $250,000 (D) 1,600m
8.55pm: Cape Verdi – Group 2 (TB) $180,000 (T) 1,600m
9.30pm: Dubai Dash – Listed (TB) $100,000 (T) 1,000m
Tank warfare
Lt Gen Erik Petersen, deputy chief of programs, US Army, has argued it took a “three decade holiday” on modernising tanks.
“There clearly remains a significant armoured heavy ground manoeuvre threat in this world and maintaining a world class armoured force is absolutely vital,” the general said in London last week.
“We are developing next generation capabilities to compete with and deter adversaries to prevent opportunism or miscalculation, and, if necessary, defeat any foe decisively.”
'The Sky is Everywhere'
Director:Josephine Decker
Stars:Grace Kaufman, Pico Alexander, Jacques Colimon
Rating:2/5
