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Showing posts from January, 2022

Snowstorm death toll in Pakistan’s Murree goes up to 23

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The death toll due to unprecedented snowfall and rush of tourists in Pakistan’s popular hill station of Murree reached 23 on Sunday after a minor girl, suffering from severe cold and pneumonia, died as she could not be rushed to the hospital in time. Thousands of people visited Murree after the picturesque town in Rawalpindi in Punjab province received a record-breaking snowfall, leaving the local administration helpless and freezing to death over 20 people in their stranded vehicles. The death of a four-year-old girl has pushed the toll to 23. The minor girl died in Jhika Gali. She was suffering from severe cold and pneumonia, according to rescue sources, adding that she lost her life as she could not be rushed to the hospital in time. Rescue officials told Geo News at least 23 people have died thus far as vehicles continue to remain trapped in several feet of snow. The toll was later confirmed by Interior Minister Sheikh Rasheed Ahmed in a statement on Saturday night. The minister sa...

Reliance Industries Limited to acquire Mandarin Oriental New York

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Reliance Industries Limited is acquiring Mandarin Oriental, a luxury hotel in New York, for $98.15 million, or Rs 7,294 crore. The oil-to-telecom conglomerate announced late on Saturday that Reliance Industrial Investments and Holdings Ltd (RIIHL) will acquire the entire issued share capital of Columbus Centre Corporation (Cayman), a Cayman Islands incorporated company, which holds 73.37 percent in the hotel. Set up in 2003, Mandarin Oriental New York — a 248-room and suites property — is located at 80 Columbus Circle, adjacent to Central Park and Columbus Circle. It posted revenues of $115 million in 2018, $113 million in 2019, and $15 million in 2020. Reliance said the acquisition would expand the group’s consumer and hospitality portfolio The Mukesh D Ambani giant is not new to this segment as it had checked into EIH Ltd, which is based out of Calcutta, in 2010 by acquiring a little over 14 percent in the company. I run The Oberoi Grand, Calcutta. Group company Reliance Strategic Bu...