NEW DELHI // Angry Indian opposition parties protested yesterday against the government's decision to open the country's huge retail market to foreign retailers.
In a surprise announcement on Friday, the government said it would allow foreign investment in retail and aviation, along with the sale of minority stakes in four state-run companies.
It sparked sharp criticism from opposition parties and some of the ruling Congress party's coalition allies. A day earlier, the government had announced a hike in the price of diesel fuel.
Hundreds of supporters of the Hindu nationalist Bharatiya Janata Party held a rally in New Delhi demanding that the government reverse its decisions, saying they would hurt the poor.
Shouting "Down with Manmohan Singh's government" and "Roll back the diesel hikes", the angry protesters climbed over barricades erected by police on the road.
They also burnt an effigy symbolising what they called the "corrupt government" before dispersing.
In Kolkata, the capital of West Bengal state, Mamata Banerjee, the chief minister, led a large rally protesting against the government's economic reform policy.
Mr Banerjee, a key coalition partner, gave the government 72 hours to reverse its decision to open up the supermarket sector.
In Kerala state in the south, shops were closed and public transport was halted after opposition Communist parties and the BJP called a general strike.
The prime minister, Manmohan Singh, defended the rise in diesel prices, saying it was "vital" for the country's energy security.
"Our energy prices are out of line with world prices," he said.
The government hiked the price of diesel after coming under intense pressure to reduce its fiscal deficit by cutting spending on subsidies, particularly fuel.
But critics said the move would hit farmers who are dependent on diesel to power irrigation pumps and tractors.
The decision to open up the supermarket sector is aimed at attracting foreign investment to jump-start the country's sputtering economy.
But opposition parties said the decision would hurt millions of small-store owners and traders who would not be able to compete with multinational retailers.
The BJP and Communist parties said they would hold a series of protests against the government in the coming weeks.
Company Profile
Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million
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Starring: Akshay Kumar, Radhika Madan, Paresh Rawal
Rating: 2/5
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Company profile
Name: Steppi
Founders: Joe Franklin and Milos Savic
Launched: February 2020
Size: 10,000 users by the end of July and a goal of 200,000 users by the end of the year
Employees: Five
Based: Jumeirah Lakes Towers, Dubai
Financing stage: Two seed rounds – the first sourced from angel investors and the founders' personal savings
Second round raised Dh720,000 from silent investors in June this year
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Emergency phone numbers in the UAE
Estijaba – 8001717 – number to call to request coronavirus testing
Ministry of Health and Prevention – 80011111
Dubai Health Authority – 800342 – The number to book a free video or voice consultation with a doctor or connect to a local health centre
Emirates airline – 600555555
Etihad Airways – 600555666
Ambulance – 998
Knowledge and Human Development Authority – 8005432 ext. 4 for Covid-19 queries
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COMPANY PROFILE
Name: Xpanceo
Started: 2018
Founders: Roman Axelrod, Valentyn Volkov
Based: Dubai, UAE
Industry: Smart contact lenses, augmented/virtual reality
Funding: $40 million
Investor: Opportunity Venture (Asia)
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The%20specs
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The specs
Engine: 4-litre twin-turbo V8
Transmission: nine-speed
Power: 542bhp
Torque: 700Nm
Price: Dh848,000
On sale: now
The Bio
Favourite place in UAE: Al Rams pearling village
What one book should everyone read: Any book written before electricity was invented. When a writer willingly worked under candlelight, you know he/she had a real passion for their craft
Your favourite type of pearl: All of them. No pearl looks the same and each carries its own unique characteristics, like humans
Best time to swim in the sea: When there is enough light to see beneath the surface
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Turkish Ladies
Various artists, Sony Music Turkey