News & Events
Finablr, financial services firm owned by Gulf-based billionaire B.R. Shetty, has acquired digital payments solutions provider TimesofMoney from Network International for an undisclosed sum. The company said that the deal would help it strengthen its presence within India’s fast-growing payments sector while helping it to use TimesofMoney’s technology to grow its footprint.
Dr. B. R. Shetty was a Key Speaker at the 2nd edition of The Economic Times India-UAE Strategic Conclave conducted yesterday, November 27, 2018 in Abu Dhabi. He shared his thoughts on the mutual ties between the nations and the path for future growth and development.
BRS Ventures and United Arab Emirates University (UAEU) yesterday signed a Memorandum of Understanding (MoU) to provide graduate placement opportunities. Deserving students graduating from UAEU will be given preferential placement at various entities held by BRS Ventures. Career advice, participation in careers fairs, practical exposure of working in the corporate world will be made available. Competent students will also get to spend 8 to 16 weeks as internship, at BRS Ventures companies.
Finablr, a financial services holding company created by Abu Dhabi-based billionaire B.R. Shetty, has secured a majority stake in Swych, a U.S. headquartered digital gift card platform. Although financial details of the deal were not disclosed, the move comes as part of a follow-on investment into Swych. It will join a portfolio of companies controlled by Finablr, which Shetty launched earlier this year to consolidate his financial services brands under one umbrella.
Dr. B. R. Shetty owned ADVOC (Abu Dhabi Vegetable Oil Company), today announced a partnership with India’s Patanjali Ayurved Limited to produce a range of edible oils for the middle eastern market. ADVOC, known for owning leading edible oil brands, will produce a range of sunflower, corn and canola oils for Patanjali Ayurved Limited under the Patanjali® brand name. The Patanjali® branded edible oil will be available in 750ml, 1.8 ltr and 5 ltr packages across the GCC region from November 2018.
Dr. B. R. Shetty at the Forbes Global CEO Conference in Bangkok, Thailand today. He was a panel member on a session titled ‘A Greater Good’. He shared his thoughts on the rationale and motivation behind philanthropy, corporate governance, and sustainability for companies to be able to give back to the society in an enhanced manner.
Abu-Dhabi based BRS Ventures Investment Limited, which has taken over Assam Company India Limited, the world’s first tea company, is confident of putting it back on track immediately by taking a series of measures.
The Kerala Chief Minister Pinarayi Vijayan is arriving in the capital on Wednesday on a four-day visit to the UAE to seek partnership of the Indian community in the reconstruction of the flood-hit Kerala. Vijayan will attend a series of events titled “Together with Kerala” in Abu Dhabi, Dubai and Sharjah. He will address businessmen in the capital at a dinner meeting organised by the Indian Business and Professional Group (IBPG) on Wednesday evening. “More than 200 prominent businessmen, including Indians and other nationals, will attend the event,” Dr B.R. Shetty, chairman of the IBPG, told Gulf News. The chief minister will present the investment opportunities for businesses in the reconstruction process at the meeting.
India’s leading drug maker Dr Reddy’s Laboratories has decided to sell its active pharmaceutical ingredients (APIs) manufacturing facility located in Hyderabad’s Jeedimetla in favour of Therapiva, an emerging generics pharmaceutical firm. Therapiva is a joint venture between Omnicare Drugs India, a wholly-owned subsidiary of Abu Dhabi based Neopharma LLC, and Laxai Life Sciences
The Guwahati bench of NCLT on Thursday approved the Rs 12.14 billion resolution plan of Abu Dhabi-based BRS Ventures for acquiring the stressed assets of Assam Company (India) Ltd, which was brought under the insolvency resolution process in October last year. Under this plan, which is nearly 3.5 times the liquidation value of Assam Company, the lenders will be taking a 20 per cent haircut over their total claims, including interest. However, the unsecured creditors will be receiving Rs 500 million and claims of operational creditors and the workers in the company have been addressed fully in the resolution plan.
The first Hindu temple coming up in Abu Dhabi has launched a website that facilitates contributions to support the temple’s construction. The website – www.mandir.ae – will allow people across the UAE and the world to follow the progress of this historic project and contribute to its construction.
The US subsidiary of Abu Dhabi-based Neopharma has acquired an antibiotic manufacturing facility and its related assets in Bristol, Tennessee. This was done through an ownership transfer from Dr. Reddy’s Laboratories, Inc. The facility will continue providing oral penicillin-containing antibacterial products to patients in the United States. Currently, Neopharma has five pharmaceutical manufacturing facilities in three continents that serve over 50 countries with 100 plus products. “The acquisition follows similar acquisitions made in Japan, Brazil and India and is a part of the global expansion drive for Neopharma, which is rapidly establishing itself as a global manufacturer of quality medications at affordable prices,” said Dr. B.R. Shetty, Chairman, Neopharma.
Neopharma Inc., USA, a subsidiary of Abu Dhabi based UAE' largest pharmaceutical manufacturer, Neopharma LLC, announced that in a 100 per cent ownership transfer, it has acquired from Dr. Reddy's Laboratories, Inc. a subsidiary of Dr. Reddy's Laboratories Ltd., which is an antibiotic manufacturing facility and its related assets in Bristol, Tennessee (US).
B.R. Shetty is a well-known business icon in the UAE. He is the Founder and Chairman of NMC Healthcare, Finablr, Neopharma and BRS Ventures. His professional growth in service-oriented businesses in the country has been phenomenal. "I came to the UAE with $8 in my pocket. I am grateful for the success that I have achieved over the past 40 years. I started off my journey with establishing New Medical Centre, and now, we have multiple businesses across healthcare, financial services, education, pharmaceuticals, hospitality and environment," he says in an interview with Khaleej Times.
The District Government Maternity and Children’s Hospital has stopped functioning and all the inpatients and outpatients of the hospital are being referred to the newly constructed 200-bed Koosamma Shambhu Shetty Memorial Haji Abdullah Mother and Child (KSSMHAMC) Hospital here from Tuesday. The State government had, in August 2016, allowed the BRS Health and Research Institute, owned by B.R. Shetty, an NRI businessman hailing from Udupi, to construct a 200-bed maternity and children’s hospital, a 400-bed super-specialty hospital, and an urban community health centre, under public-private partnership mode.
Entrepreneur of the Year – Indian Innovator Awards 2017
Dr. B.R. Shetty with honourable Chief Minister of Andhra Pradesh Mr. N. Chandrababu Naidu
Dr B R Shetty, a Kannadiga who is renowned internationally for having established industries in the Gulf country of UAE was conferred with the prestigious ‘Bharath Ratna Sir M Vishweshwaraiah Memorial Award – 2018’ by the Federation of Karnataka Chambers of Commerce and Industry (FKCCI).
Forbes Announces Dr. B.R. Shetty is amongst the Top 10 richest Indians in the UAE
The construction of the much-awaited Hindu temple complex in Abu Dhabi in the United Arab Emirates is moving swiftly, as India is working closely to inaugurate the temple during prestigious Expo 2020 in Dubai.