UAE Government rated 'AA' with a 'stable outlook': Fitch Ratings

Mangaluru, Oct 8: The city of Mangaluru mourns the loss of M Ahmed, a pioneering businessman, philanthropist, and the Founder Chairman of the AK Group. He passed away on Tuesday morning at the age of 76, leaving behind a legacy that spans decades of service, innovation, and community building.

M Ahmed, also fondly known as A K Ahmed, was a man of humble beginnings who grew into one of the most respected entrepreneurs in South India. He founded the AK Group in 1984, which has since flourished into a multi-faceted business empire. The company, which began as a small frame manufacturing unit, now encompasses a wide range of industries, including plywood, formaldehyde, particle boards, fire-rated products, and more. AK Group's growth extended beyond India, with manufacturing units established in Myanmar and Vietnam.

What began with 18 employees in 1984 has today expanded to provide employment to approximately 3,000 people in India and 400 abroad. M Ahmed’s dedication and vision were instrumental in transforming the company into a market leader, recognized for its high-quality products and innovation. AK Plywood is now one of India’s top plywood manufacturers, and the largest in South India. The company was Karnataka’s first plywood manufacturer to receive ISO certification and has garnered prestigious awards, including the Rising Stars Power Brands Award in London (2017) and the Best Manufacturer Award from MSME Karnataka (2018).

Ahmed’s business success was deeply rooted in values instilled in him during his early years. He worked alongside his father, the late Abdul Khader Moopa, loading sawn timber, and it was from these humble beginnings that he developed his work ethic, pioneering spirit, and respect for time—values that remained the cornerstone of his remarkable career.

His foresight was evident when he recognized the potential of timber from Perumbavoor, Kerala, for plywood and blockboards at a time when it was merely being used as firewood. This strategic move led to the establishment of one of the first frame manufacturing and peeling units there, and soon after, Ahmed launched his own company in Mangaluru, swiftly earning national and international recognition.

Beyond plywood, the AK Group has diversified into multiple industries, including marine food, pharmaceuticals, construction materials, hypermarkets in India and the UAE, and food industries in Indonesia. Under Ahmed’s leadership, the company’s reach expanded, ensuring its position as a formidable player in various sectors.

Ahmed was not only an extraordinary businessman but also a deeply compassionate individual, dedicated to social and religious causes. He served as the founding president of the managing committee of Ihsan Masjid in Mangaluru and established the Highland Educational and Cultural Centre. His philanthropic efforts were as vast as his business ventures, benefiting countless communities both in India and abroad.

His kindness, simplicity, and punctuality were hallmarks of his character. Those who knew him admired his unyielding commitment to excellence, as well as his warmth and generosity. M Ahmed is survived by his wife, three daughters, and four sons, who continue his legacy of philanthropy and social service.

As news of his passing spread, tributes poured in from all sectors of society. Social, religious, and political leaders in Mangaluru expressed their deep sorrow over the loss of a man who dedicated his life to improving the lives of others.

M Ahmed’s journey from humble beginnings to massive success will continue to inspire generations. His life serves as a testament to the power of vision, perseverance, and, above all, integrity.

Sirens sounded all over the occupied territories on Tuesday night as Iran launched hundreds of missiles towards the Zionist entity, in a retaliatory attack dubbed Operation True Promise II. 

Meanwhile, Israeli officials have promised to respond after Iran fired a barrage of ballistic missiles at key military and security targets in Israel.

Flares and missiles were seen in the Tel Aviv sky and explosions could be heard in the occupied al-Quds, sending Zionist settlers fleeing into shelters.

The Israel Airports Authority said that no aircraft will be allowed to take off or arrive at all Israeli airports. Israeli newspaper Haaretz reported “direct hits” in Negev, Sharon and other locations from Iran’s attack.

The Islamic Revolution Guards Corps (IRGC) issued a statement shortly after the missile attack began.

It said in response to the martyrdom of Hamas chief Ismail Haniyah, Hezbollah leader Sayyed Hassan Nasrallah, and IRGC commander Abbas Nilforoushan, the IRGC Aerospace Force launched dozens of ballistic missiles targeting key military and intelligence bases in the heart of the occupied territories.

The IRGC further said that the attack was in line with the country’s right to legitimate self-defense as per the United Nations Charter, and in response to the regime's escalating crimes—backed by the United States—against the people of Lebanon and Gaza.

The Zionist regime will face more crushing attacks in case it reacts to Iran’s operation, the IRGC added.

In a follow-up statement, the IRGC said three Israeli military bases in Tel Aviv were hit during the operation.

In this operation, a number of air and radar bases, as well as centers for conspiracy and assassination planning against resistance leaders and IRGC commanders were targeted, the statement said.

The IRGC noted that even though the designated areas were shielded by advanced defense systems, 90% of the missiles shot successfully hit their targets.

“The Zionist regime has been terrified by the intelligence and operational dominance of the Islamic Republic,” it added.

The Iranian mission to the United Nations said in a statement that the missile attack was a “legal, rational, and legitimate” response to the terrorist acts of the Zionist regime.

It also warned the Israeli regime that a more “crushing” response would ensue should it dare to respond or commit further acts of malevolence.

Celebratory gunfire erupted in southern Beirut, where Hezbollah chief Nasrallah was killed in a massive Israeli airstrike last week, following Iran’s retaliatory attack.

“Heavy gunfire heard from automatic weapons from areas of the southern suburbs, rejoicing in the missile launch from Iran towards Israel,” Lebanon’s National News Agency said.

The Lebanese Hezbollah resistance movement has confirmed the assassination of its secretary general Sayyed Hassan Nasrallah in massive Israeli airstrikes targeting residential buildings in southern Beirut on Friday.

“His Eminence, the Master of Resistance, the righteous servant, has joined his Lord and His pleasure as a great martyr — an outstanding, courageous, wise, and insightful leader — joining the ranks of the radiant martyrs of Karbala in the divine journey of faith, following in the footsteps of the prophets and martyr imams,” Hezbollah said in a statement on Saturday afternoon.

“The leadership of Hezbollah vows to the highest, most sacred, and dearest martyr in our journey, filled with sacrifices and martyrs, to continue its struggle against the enemy, supporting Gaza and Palestine, and defending Lebanon and its steadfast, honorable people,” it added.

Since Friday afternoon, Israeli warplanes have conducted over 30 airstrikes, targeting residential buildings in Burj al-Barajneh, Kafaat, Choueifat, Hadath, al-Laylaki, and Mreijeh, with local media reporting upwards of 300 casualties as a result of the aggression.

Footage broadcast by al-Manar television channel from the crowded area of Beirut’s Dahiyeh shows flattened buildings, streets filled with rubble and clouds of smoke and dust above the area.

Martyrs’ Square, Beirut’s central public area, was crowded with exhausted and anxious families sheltering outdoors.

The recent attacks are part of the Israeli regime’s intensified assault on Lebanon, which has become more deadly this week, resulting in over 700 deaths nationwide since Monday.

The new attacks came less than a week after the Tel Aviv regime killed 38 people, including three children and seven women as well as senior Hezbollah commander Ibrahim Aqil in an attack on a residential building in a southern Beirut suburb.

Earlier on Saturday, Leader of the Islamic Revolution Ayatollah Seyed Ali Khamenei said the brutal attacks by the “rabid Zionist dog” on Lebanon revealed the shortsightedness and foolish policies of Israeli officials, calling on all Muslims to unite behind Lebanese people and Hezbollah.

“The Zionist criminals need to know that they are far too weak to be able to inflict any significant damage on the solid structure of Lebanon’s Hezbollah. All the resistance forces in the region stand with and support Hezbollah,” the Leader said in a statement on Saturday.

“The Lebanese have not forgotten that there was a time when the soldiers of the occupying regime were advancing toward Beirut, and Hezbollah stopped them, and made Lebanon proud. Today too, by the grace and power of God, Lebanon will make the transgressing, malicious enemy regret its actions,” Ayatollah Khamenei noted.