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UK’s wealthiest Indian and Hinduja patriarch dies at 87

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Srichand Hinduja, the Indian-born billionaire leader of a global business empire and the patriarch of Britain’s wealthiest family, has died aged 87. He was battling a form of dementia and was unwell for some time.

Hinduja and his younger brother Gopichand, 83, topped The Sunday Times Rich List in 2022 for a fourth time, with an estimated net worth of 28.5 billion pounds (AED 130.6 billion).

“It is with deep sadness that we announce the passing of our father SP Hinduja,” his children Shanu and Vinoo Hinduja said in a statement.

“SP was a visionary titan of industry and business, humanitarian and philanthropist … He touched countless lives on his path, and we are forever grateful for the time we cherished with him.”

 

The Hinduja Group operates in various sectors such as truck-making, banking, chemicals, power, media, and healthcare, employing over 150,000 people in 38 countries, according to a Bloomberg report in 2021.

SP Hinduja was married to Madhu and had three children: Shanu, Vinoo, and Dharam (who passed away in 1992).
Known as a leading Non-Resident Indian (NRI) businessman, Hinduja played a pivotal role in conceptualising IndusInd Bank, one of India’s first new-generation private banks.

According to the Bloomberg Billionaires Index, SP Hinduja had an estimated net worth of about $3.6 billion.

In 2022, SP Hinduja and his younger brother Gopichand topped The Sunday Times Rich List for the fourth time, with an estimated net worth of £28.5 billion ($36 billion).

– Agencies

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UAE Central Bank assures public financial system is stable and fully operational

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Central Bank of the UAE has reassured residents and businesses that the country’s financial system remains strong, stable and fully operational despite rising geopolitical tensions across the region.

The regulator said banks, financial institutions and insurance companies across the UAE continue to operate normally, delivering services to customers without disruption.

Khaled Mohamed Balama said the sector remains resilient and well-positioned to navigate evolving regional developments.

“The UAE’s banking and financial sector continues to demonstrate the highest levels of resilience and stability,” he said.

Strong foundations of the financial sector

According to the central bank, the sector is built on strong governance frameworks, diversified institutions and proactive risk management systems designed to respond quickly to regional and global economic shifts.

Balama noted that the regulator has played a key role in strengthening the country’s financial stability and global reputation.

Strong capital and liquidity buffers

Financial indicators show that the UAE banking sector is entering the current period of regional uncertainty from a position of strength.

  • Capital adequacy ratio: around 17%
  • Liquidity Coverage Ratio: above 146.6%

Both indicators remain well above international regulatory requirements, reflecting strong financial buffers across the sector.

Total assets in the UAE banking system have also grown significantly, exceeding Dh5.42 trillion, highlighting the scale and stability of financial institutions operating in the country.

These strong capital and liquidity levels help banks absorb economic shocks and maintain lending activity even during periods of uncertainty.

The Central Bank also confirmed that banking infrastructure, digital platforms and payment networks continue to operate smoothly across the country.

“I reaffirm that the UAE’s banking systems, payment systems and national financial infrastructure continue to operate with full efficiency and stability,” Balama said.

Continuous monitoring and preparedness

Authorities said the financial sector remains under close monitoring, with ongoing coordination between the central bank, financial institutions and government entities.

Banks in the UAE operate under regulatory frameworks that require continuous risk monitoring, stress testing and business continuity planning aligned with international best practices.

The Central Bank said it maintains a wide range of monetary and prudential policy tools to support financial stability when needed.

Balama reaffirmed the regulator’s commitment to safeguarding the sector’s stability and supporting the UAE’s long-term economic growth.

“I reaffirm the Central Bank of the UAE’s unwavering commitment to closely monitor developments, maintain full operational readiness and provide the necessary support to safeguard the achievements realised over more than five decades of progress and prosperity,” he said.

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Dubai to host ‘Billionaires for Peaceconclave as global movement calls for values-driven leadership

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As geopolitical tensions and conflicts intensify across the world, a growing global initiative is calling for renewed focus on peace, dialogue and shared human values.

The I Am Peacekeeper Movement is stepping up efforts ahead of the upcoming Billionaires for Peace Conclave, scheduled to take place in Dubai this May.

Founded by humanitarian leader Huzaifa Khorakiwala, the movement promotes seven core values — truth, gratitude, forgiveness, love, humility, giving and patience — as the foundation for inner harmony and lasting global peace.

“Peace is not merely the absence of conflict. It is a shared responsibility rooted in how we live, act and lead,” Khorakiwala said. “In a world facing unprecedented challenges, aligning our values with our actions is more important than ever.”

Global movement for peace

Launched in Dubai, the I Am Peacekeeper Movement aims to unite individuals, institutions and communities under a shared mission of harmony and mutual understanding.

The initiative has rapidly expanded into a global platform engaging millions of advocates worldwide through digital campaigns, grassroots networks and international events.

Organisers say the upcoming Billionaires for Peace Conclave will bring together influential leaders, entrepreneurs and changemakers to explore ways to advance peace-building, ethical leadership and global cooperation.

Building on a global peace summit

The initiative builds on the momentum generated by the Global Justice Love & Peace Summit held in April last year.

The summit brought together 10 Nobel Peace Laureates on a single stage and concluded with the release of a Peace Charter encouraging global solidarity, dialogue and values-driven leadership.

Organisers say the movement’s focus on “lived values” aligns closely with the UAE’s longstanding commitment to tolerance, coexistence and cross-cultural dialogue.

With Dubai hosting the upcoming conclave, supporters hope the city will once again serve as a global platform for conversations on peace and shared human responsibility.

About the movement

The I Am Peacekeeper Movement is a global initiative founded by Dr Huzaifa Khorakiwala to promote universal peace through core human values. Launched in Dubai, the movement engages communities worldwide through advocacy, education and international events such as the Global Justice Love & Peace Summit and the Billionaires for Peace Conclave.

More information is available at: www.i-am-peacekeeper.com

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UAE announces early spring break for all educational institutions

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The Ministry of Education, along with the Ministry of Higher Education and Scientific Research, on Wednesday, March 4, announced that the commencement of spring break for all academic institutions has been pushed forward to March 9, with the last working day to be March 6. Normal classes are scheduled to resume from March 30. 

The academic calendar placed the spring break dates originally from March 16 and ending on March 29 which has now moved from March 9 to March 22. The change comes in light of the ongoing regional conflict, with the safety of students and staff at schools and universities as the highest priority. 

Classes had transitioned to online learning at the beginning of this week as a precautionary measure for all students and staff, which was further extended up to the end of this week. Exams for students have also been shifted to a remote format, allowing them to complete their assessments safely from home. 

Students, parents, and staff are advised to stay updated via official channels only, as the measures aim to protect the safety of all in the education sector.

(By Shura Kola)

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