Coronavirus threat - Induces UAE based billionaire postpone SL visit - Breaking News

Coronavirus threat - Induces UAE based billionaire postpone SL visit

7 March 2020 05:01 pm Views - {{hitsCtrl.values.hits}} 6 Bookmark

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Lulu Group International Chairman and Managing Director, UAE based Indian billionaire, Yusuff Ali has postponed this month's visit to Sri Lanka to discuss millions of dollars worth of investments with the government amid fears of the global coronavirus threat, the Daily Mirror learns.

Mr. Ali, who was to arrive in Sri Lanka on March 16, on a private jet was scheduled to hold discussions with Prime Minister Mahinda Rajapaksa and other senior government members. He was expected to discuss investments valued at more than US$1 billion.

The Daily Mirror learns that he has sought to postpone his visit as the UAE Health Ministry has issued directives to its residents to avoid travelling during the next few days in the wake of the recent global coronavirus outbreak. However Ali has sought a fresh date to visit Sri Lanka to discuss investments once the global situation improves.

Ali's LuLu Group International owns the LuLu Hypermarket chain worldwide and LuLu International Shopping Malls.

According to Forbes, Ali was last year ranked the 21st wealthiest Indian with a personal wealth of US$5.2 billion. According to Forbes Middle East, Yusuff Ali was ranked No.1 among the Top 100 Indian business owners in the Arab World in 2018. (JAMILA HUSAIN)

Comments - 6

Saradiyal Saturday, 07 March 2020 07:57 PM

Thambiyah bad. Thambiyah money good. Shameful Lankans never can let go of their greed.

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Patriot Watcher Sunday, 08 March 2020 09:53 AM

We have so many Patriots working in the Middle East , Maldives who post derogatory material on FB but are yet work in the Middle East , Malaysia and the Maldives

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Fernando Saturday, 07 March 2020 09:42 PM

If LuLu comes to Sri Lanka Cargils and Keels will go down the drain.

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Nilame Sunday, 08 March 2020 10:02 AM

Yes it is , Lulu being the biggest brand in GCC and across the world, their arrival would be definitely a great challenge to existing brands operating at SL.

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Riyad RC Monday, 09 March 2020 09:23 AM

cargills, arpico and keels are already doing perfect. only if they give a chance to keep prices at market levels and if inflation rates are not effected, then its a good move to keep the competitiveness in the market. but this will also reap FDIs and employment opportunities to lankans which is positive. hopefully our leaders will get a great cut as well.

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jim kuru Monday, 09 March 2020 01:52 PM

who said Srilanka is not safe to travel, all bull shit

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