KOCHI, 14 July 2007 — Since the successful launch of its Kochi and Thiruvananthapuram services, Etihad Airways has been attracting a growing number of Keralites based in the Gulf.

Services to Kochi and Thiruvananthapuram started in the beginning of June and since then passenger figures on both routes have averaged more than 90 percent in economy and business classes, according to James Hogan, Etihad Airways’ chief executive.

“India is one of Etihad’s key global markets and the phenomenal success achieved so quickly by the Kochi and Thiruvananthapuram flights demonstrates the growing demand for our services,” he told reporters here recently.

Etihad also operates daily flights to Delhi and Mumbai and seeks to boost its network further during the next 12 months as bilateral talks with the Indian government continue.

In addition to operating daily flights to the two Kerala destinations from October, Etihad also plans to start services to other major Indian destinations including Bangalore, Chennai and Hyderabad.

“Currently, Etihad flies to four Indian destinations and ideally we would like to double this in the next few years in order to satisfy the huge demand from Indian customers across Etihad’s flight network, which includes the UK, Canada and South Africa as well as the UAE,” he added.

To celebrate the launch of the new Kochi flights a delegation of senior Etihad officials, led by James Hogan, visited the city. During the two-day visit, the delegation hosted a reception and media conference.

Addressing the gathering, Abu Dhabi Chamber of Commerce Director M.A. Yousuf Ali said the Etihad’s entry into the Indian market offering quality service at affordable rates was a great relief to Indian workers in the Gulf.

Pointing out that majority of Kerala workers hail from the Malabar region, he urged Etihad to operate flights to Kozhikode as well.

Upasco Project in UAE

KOCHI, 14 July 2007 — The city-based Upasco India Pvt. Ltd. will set up a plant in Ras Al Khaimah that uses ‘de-polymerization technology’ for converting a wide range of refuses such as plastic, PVC, rubber and tires, waste oils, wax and fat and biodegradable waste into high-quality bio-diesel, which can also be used for power generation. V. Sasidharan, managing director of the company, said the plant would also have the capability to process hotel and agriculture waste, animal products, hospital waste, refinery arrears and bitumen. The technology has been found to be without much environmental impact and do not produce any harmful residual substances. He said Upasco would execute the project on behalf of Lotuscorp Industries based in Malaysia. “Steps have been taken to set up the project in a 40,000 sq. ft area. Discussions are also continuing with Kuwait and Saudi Arabia to establish similar plants,” he added.

Seat Belts Mandatory From Aug. 1

THIRUVANANTHAPURAM, 14 July 2007 — The state government has issued an order making wearing of seat belts compulsory for drivers of four-wheelers from Aug. 1. As per the provisions of the Motor Vehicle Act, 1989, the use of seat belts is mandatory and the police can levy fine ranging from Rs.100 to Rs.1,000 for speeding, negligent driving and use of mobile phones while driving.

Geojit Unveils Investment Plans

THIRUVANANTHAPURAM, 14 July 2007 — Kerala-based stock broking major Geojit Financial Services Limited (GFSL) will invest SR28m in Aloula Geojit Brokerage Company in Saudi Arabia.

With this move, GFSL will be the single largest shareholder of the company, which has received the License from Kingdom’s Capital Market Authority to start domestic brokerage business, GFSL Managing Director C.J. George said.

“Saudi Arabia is home to the largest Indian expatriate community in the Middle East and we hope to tap this huge market,” he said after announcing the company’s first quarter results.

The company has recorded a net profit of Rs.121m for the first quarter that ended on June 30, 2007, as against the net profit of Rs.70.7m for the same period the previous year. It also provided Rs.48.9m for tax last quarter.

Income for the quarter increased by 29.06 percent to touch Rs.417.5m from the corresponding period’s Rs.323.5m and profit after tax went up by 71.5 percent.

Barjeel Geojit Securities LLC, a joint venture in the UAE, has also performed well during the quarter. The company has recorded 33 percent increase in income and 41 percent increase in net profit.

The board meeting held in Kochi on Thursday also decided to form a joint venture company in Dubai to deal in UAE listed shares in DFM (Dubai Financial Market), initial public offerings and distribution of home grown funds in UAE, subject to regulatory approvals.