Indian-origin businessman got the biggest civilian honor in UAE

Indian-origin businessman got the biggest civilian honor in UAE

Yusuf Ali MA, the director of the Lulu Group and an Indian-origin industrialist, has been honored with the highest civilian honor by the Crown Prince of Abu Dhabi. Apart from Yusuf Ali, 11 other people have also been conferred with this honor. This honor has been given to him due to his charitable works.

Yusuf Ali (65) is the chairman and managing director of Abu Dhabi's Lulu Group. The group operates hypermarkets and retail companies in many countries. According to the news of The Khaleej Times, these people were honored for their contribution in various fields such as healthcare, community service, humanitarian work, besides culture, heritage and environmental protection. The award has been announced on the occasion of the tenth edition of the Abu Dhabi Awards. The event was organized in the country's oldest stone building Qasr Al Hosn.

Born in kerala

Yusuf Ali was born in Kerala. He has been given this honor because of his contribution to the business and industry growth of Abu Dhabi. After receiving the award, he said that this moment is of pride and I have become very emotional. I am very happy to receive this award.

UAE arrived in 1973

He said that on 31 December 1973, I came to the UAE with a dream in my eyes. I saw many ups and downs in my life before that. I commend Sheikh Mohammed bin Zayed Al Nahyan's leadership. He is a big contributor to what I am today. I have received a lot of love and support from the people here as well.

Business is spread in many countries

The Lulu Group is the top Rittlers in the Middle East and North Africa. Apart from Gulf countries, it has more than 200 hypermarkets and super markets in countries like Egypt, Indonesian, Malaysia, India. This company is giving jobs to 58 thousand people in different countries. The company's logistics centers are in countries such as the United States, the UK, Spain, South Africa, the Philippines, and Thailand.


Why is the price of copper rising so fast in the world, including India, in the midst of the Corona crisis?

Why is the price of copper rising so fast in the world, including India, in the midst of the Corona crisis?

There is a record boom in the commodity market globally. Apart from steel, aluminum, copper is also doing business at a record level. On Thursday, the price of copper in the international market has crossed a record $ 10,000 per ton. The price of Shanghai copper has also reached the highest level in the past 10 years. Copper futures are also at record highs in the past decade in London, amid concerns over supply and weak dollar.

Information and agencies related to the commodity market say that in the coming time, the price of copper will see a boom. There are several reasons for this record boom in copper. For example, economic recovery has been seen worldwide, industrial copper consumption has increased in China, and Chile, which produces about a quarter of the global copper, has announced a tax of 75 per cent on its mining. Apart from this, due to the increasing trend of electric vehicles, the demand for copper is increasing.

If we talk about the Indian market, the price of copper was at the highest level till last week. Copper futures on Thursday were up 0.53 per cent at Rs 765.10 per kg. Copper futures for May delivery on the Multi Commodity Exchange (MCX) gained Rs 4, ie 0.53 per cent. The demand for copper has increased in India too.

Why is the copper price rising so fast?

1. Demand more and supply less: Sometime ago the Chilean Port Workers and Mining Association opposed a bill by the government. In fact, the Chilean government had introduced a new bill, under which workers were asked to block premature withdrawal from their pension funds for the third time.

About a quarter of the total global copper production comes from Chile. After the opposition of the association and the workers, the copper supply decreased and prices increased.

Apart from this, due to Kovid-19 in South America, many major commodity exports like iron ore and copper have been affected. Even in America, the importance of copper is seen as a raw material in Joe Biden's infrastructure plan.

However, in terms of supply, copper output in Peru has gone up by about 19 percent during the month of March. Globally, there has been some relief from this.

2. Less inventory: There has been a sharp decline in registered copper inventories on the London Metal Exchange. Analysts estimate that there has been a downward trend in this. As of 26 April 2021, the copper inventory at the London Metal Exchange was only 1,55,100 tonnes. In the second fortnight last month, it has reduced by 10 per cent.

3. Demand increased: Construction activities in China have increased this year. After this, the demand for copper in China has also increased. Let us know that half of the total consumption of copper in the world is from China. Analysts say that China consumes the most copper and now demand has increased due to large scale construction here. This is also a reason why the price of copper is getting faster.

A boom in economic development is now being expected in America. It will also have an impact on global economies. In the era of Kovid-19 crisis, countries around the world have announced an incentive package. On the other hand, good news is also coming about the corona vaccine. Both these factors have affected the price of copper.

4. Green Infrastructure: Demand for electric vehicles is increasing worldwide to reduce carbon footprint and promote the use of clean energy. Electric vehicles use twice as much copper as internal combustion engines. In such a situation, with the increase in demand for electric vehicles, the demand for copper will also increase.

What is the estimate of agencies?

In a recent report by Goldman Sachs, estimates say that by 2025, copper prices can reach $ 15,000 per tonne. The report titled 'Copper is the new oil' says that banks believe that by 2030, the annual demand for copper will rise by 900 per cent from the current level to 87 lakh tonnes.

Trading houses Trafigura Group and Bank of America also believe that copper prices have increased. Bank of America says that in the coming months, the price of copper can reach $ 13,000 per tonne.


This is the only major difference between Virat Kohli and Sachin Tendulkar, Venkatesh Prasad argued       This former Indian cricketer did the winning work, donated the proceeds from IPL in the fight against Kovid-19       This player becomes the second oldest Pakistani to make a test debut, chance against Zimbabwe after 137 first class matches       The batsmen from all over the world are going from India with this unknowable fear, not of Corona       This former cricketer took a dig at those who raised fingers on the bio bubble of IPL-2021       3 major ICC tournaments canceled due to IPL 2021 postponement due to Corona       Australian cricketer said after playing T20 World Cup in India - Things should be organized only when conditions are right       G. does not want to leave any stone unturned in preparation for the Olympics. Sathiyan, waiting for this special thing       To host IPL 2021, this country also gave entry to BCCI, a proposal to organize in September       Parsi cricketer arrives in team India, bowling like rocket with left hand, Kohli will be very happy       Covishield or Covaxine… Before going to England for WTC Finals, what vaccine will Team India think of and why? Learn       WTC final: Mahabharata is about to break into Test cricket, 'Pandavas' are ready in India too       In the IPL, the Giants dazzled and made everyone their wish, the 24-year-old storm bowler has now ticketed England.       ZIM vs PAK: Pakistan's batting 'Ali-Ali', double century partnership broke Zimbabwe's hopes       Relief for Corona-infected CSK veteran, second report came negative, but will not be discharged yet       861 runs in 6 matches, captain made at an early age, now Kohli will shine his name in England with army       If you are not able to deposit money in the SIP during the corona period, do not take the station, this option will work, you will get 1 to 6 months of deferment       Why is the price of copper rising so fast in the world, including India, in the midst of the Corona crisis?       In the UK, Indian pharma companies are focused on flying, is this why Poonawala is now focusing on 'London' instead of 'Pune'?       Indian Railways starts country's first Milk Express, there will be no milk shortage in the capital Delhi