Latest news with #JayeshPatel
Bloomberg
06-05-2025
- Business
- Bloomberg
India Risks Losing a $120 Billion Lifeline as US Curbs Migration
Around the world, cash remittances from workers abroad are vital to local economies. By , Saijel Kishan, and Kelsey Butler Mokhasan doesn't fit the mold of an average village in rural India. There's a new local council building, opulent Hindu temples and paved roads. The primary school recently received a donation of $90,000. But despite these modern amenities, the streets are largely silent. Most houses are padlocked, their yards unkempt. Neighboring villages in the western state of Gujarat, one of India's wealthiest, are also ghost towns, emptied of residents who migrated to countries such as the US. 'Everyone goes to the US to make money, and most of that money comes back to India,' says Jayesh Patel, whose entire family left the country. Patel, who runs a water bottling plant in Gujarat's capital, Ahmedabad, frequently visits his native village to watch over the family's land. 'Everything here—the roads, temples, schools—it all comes from dollars.'
Telegraph
25-04-2025
- Automotive
- Telegraph
UK's rarest cars: 1979 Datsun Violet 140J, one of only four left
One challenge with this series on vanishing cars is that it can make the writer feel very old. If you are also of his vintage (born the year of Abbey Road and the Austin Maxi), you will probably have seen countless examples of the A10-series Datsun Violet. Today, Jayesh Patel's 1.4-litre model from 1979 is believed to be one of only four remaining on the road. Nissan introduced the first-generation 710 series in January 1973 to bridge the gap between the Sunny and the Bluebird. The second-generation A10 followed in May 1977, rivalling Toyota's Carina in its homeland. In the UK, the Violet occupied a niche mid-way between the Ford Escort and Ford Cortina market sectors. As with all pre-1984 Nissan models, the Violet was sold in this country under the Datsun brand. Home market customers could choose from a highly complex line-up, but the UK concessionaire decided to import only the 1.4- and 1.6-litre 140J and 160J saloons as well as the three-door SSS Coupé. Ironically, for a vehicle that aspired to provide little more than respectable transport for outer suburbia, cars such as the Violet were the cause of some controversy. The 1975 Voluntary Restriction Agreement (VER) restricted Japanese imports to a maximum of 11 per cent of the UK's new car market. This quota was allocated to manufacturers in the same proportion to 1974 sales. Datsun GB held the premier position of 6 per cent due to its elaborate dealership network and emphasis on affordable models. Toyota held second place with 3.5 per cent, with Honda, Mazda and Mitsubishi dividing the remaining 1.5 per cent. By 1980, Datsun complained to the press that the quota gave 'the UK market on a plate to other foreign manufacturers, particularly those in France and Germany'. That year, Autocar wrote: 'There is no doubt that Japanese car makers could sell many more cars in Britain.' For the Violet, this meant sales to private buyers as Datsun GB's chief executive Octav Botnar apparently had little interest in the UK's predominant fleet market. For one, the profit margin in this cut-throat (and Ford-dominated) sector was too narrow, while overseas-built company cars were still unusual in the late 1970s. A hyper-critical buyer might have regarded the Violet's looks as faintly dated. If its predecessor resembled a squashed 1971 Plymouth, the A10 was slightly redolent of a scaled-down 1966 Ford Zodiac Mk4. Then there was the issue of its name which, although not as quaint as the Nissan Cedric, was reminiscent of a Thora Hird character in a black-and-white film. However, the typical 140J buyer was not overly concerned about the name. Nor were they worried about the long-established 1,397cc overhead-valve (OHV) engine, based on the Sunny's power plant, nor the car's old-fashioned recirculating ball steering. The Violet sold on being reliable and easy to service, with quad headlights and a push-button radio as standard. If that was not enough, there was velour upholstery and a jukebox-like facia. The Violet also represented excellent value for money, the 140J costing £3,691 in 1979, compared with £3,700 for a Ford Escort Mk2 1.3GL four-door, and £3,694 for the Morris Marina 1300L. The Talbot (formerly Chrysler) Avenger GL and the Vauxhall Chevette GL four-door were also more expensive at £3,794 and £3,705 respectively. By 1980, the A10 was in the Top 10 of the UK's best-selling cars. Datsun GB even promoted the Violet as 'exciting'; after all, it had acquitted itself well in top-level rallying. Shekhar Mehta had won the 1979 and 1980 Safari Rallies in a 160J. In addition, Andy Dawson's Team Datsun Europe 1.6-litre version was the best-placed non-Scandinavian entrant in the 1978 1,000 Lakes Rally. Such victories enhanced the Violet's image, even if the norm was more a successful day trip to Swanage. The front-wheel-drive Stanza replaced the A10 in 1981. Patel's Violet is now so rare that an early 'flat floor' Jaguar E-Type looks positively common by comparison. He finds the reaction of the public was always positive: 'People love it. I think that many of them knew someone who owned one back in the day, so seeing one still on the road is so nostalgic. Plus, it's a simple, everyday car that is now a rare classic.' In some respects, Patel's Violet was a Trojan horse to the UK car market. In 1977, Datsun GB boasted it was 'the Japanese car you can buy with confidence!'. Nine years later, Nissan produced the Bluebird at its new Sunderland plant, making it the first Japanese car built in Britain. And it was cars such as the Violet, with its 'one-touch washer/wiper' control, which helped achieve such a transformation of the motoring landscape.
Business Journals
22-04-2025
- Entertainment
- Business Journals
Comfort Inn the Pointe, illusionist Leon Etienne pairing up on Niagara Falls Magic Theatre
By submitting your information you are agreeing to our Privacy Policy and User Agreement . A long-vacant space in a Niagara Falls hotel is getting a magical makeover, promising to fill an entertainment void for tourists on the American side of the falls. Story Highlights Comfort Inn the Pointe is spending $150,000 to create the Niagara Falls Magic Theatre. The hotel is working with illusionist Leon Etienne, who will perform in-residence magic shows. The 3,500-square-foot, 80-100 seat theater opens in May. A Niagara Falls hotel is converting a former nightclub into a theater to give U.S. visitors a new in-residence magic show. Comfort Inn The Pointe is working with illusionist Leon Etienne to create the Niagara Falls Magic Theatre at 1 Prospect Pointe, adjacent to Niagara Falls State Park. GET TO KNOW YOUR CITY Find Local Events Near You Connect with a community of local professionals. Explore All Events The basement-level theater, which is expected to open by late May, will offer seating for 80-100 guests while providing access to a bar and snacks. Construction on the 3,500-square-foot site is already underway. The hotel is spending $150,000 on the project, part of a $1 million investment this year across the hotel, said Jayesh Patel, who paid $11 million for the 110-room hotel in 2023. The nightclub space has been vacant for about 20 years, he said. 'People do look for stuff to do in the evening. … There's a lot of seasonal traffic, and I think this is a great location and the right use for this space,' he said. A Utica native, Etienne has been touring internationally with his magic show for more than a decade, including recent shows in Niagara Falls at the Seneca Niagara Casino and the Niagara Arts & Cultural Center. He's gotten great feedback on the idea of offering a show in-residence for the busy tourist season, when families are looking for something to do after seeing the falls, especially for those who don't want to or can't go over to the Canadian side. 'The USA side doesn't really have anything like it,' he said. 'The feedback we've gotten from Jay and others is: 'Thank God.' There's really nothing for families to do after they've done Maid of the Mist and the other mainstays between dinner and the fireworks. There was a market gap there, and we're hoping identifying that gap benefits us and the community as a whole.' COMING SOON: Stay tuned for this month's installment of Buffalo Unlocked, where Jacob Tierney explores how the millions of tourists that come to the falls every year serve as a major driver for the regional economy. Further economic development of the city — like the kind happening at Comfort Inn the Pointe — could amplify that impact. Make sure you're subscribed to our newsletters to have that story and many more delivered right to your inbox. It's the second hotel on the U.S. side working on new entertainment options: The former Niagara Inn and Howard Johnson is set to be reimagined as a rock-'n'-roll themed destination by Live-USA Inc., an affiliate of the DiCienzo Group of companies that owns the Sheraton at 300 Third St. and the Wyndham Garden at 443 Main St. Etienne, who has appeared on "America's Got Talent" and "The Tonight Show Starring Jimmy Fallon," lives in the region with his longtime girlfriend and performing partner, Chelsea LaCongo. They've seen the growth of boutique magic theaters popping up around the country, especially in tourist hot spots. For now, the plan calls for offering shows throughout the summer season four to six times per week. In the off-season, that will shift weekends only, allowing Etienne to keep booking shows elsewhere. 'We have friends all over the country who have been doing this for a year. It's a huge trend right now,' he said. 'We've tested other markets and have success. We have reason to believe it will be successful in Niagara Falls as well.' In addition to upgrades to exterior lighting and landscaping, Patel expects to do some additional renovations to the lobby area and guest rooms in the fall. Patel also has three independent restaurant tenants coming in to the first floor of the hotel, including a buffet, all of which should open in about a month. They'll join a souvenir shop and a convenience store. The magic theater will provide another amenity for his guests and other visitors to the Falls. 'It's not only helping my hotel; I think it's helping everybody in walking distance and the hotels on the next street,' he said. 'This is right on their way when they go see the fireworks and the lighting. This will give them a good reason to get out of their hotel room and do something while they're visiting Niagara Falls.'
Zawya
14-04-2025
- Business
- Zawya
Wio Bank launches salary plan with market-leading 6% interest on savings to enhance financial wellness
Abu Dhabi, UAE: Wio Bank PJSC, the Middle East's first digital financial platform, announced the launch of the Wio Personal Salary Plan, a new banking plan offering salaried individuals in the UAE a market-leading 6% interest rate on their savings and significant benefits to enhance their financial wellness. Financial wellness has emerged as a key priority for professionals in the UAE, with financial stress widely recognized as a factor affecting workplace productivity, mental health, and overall life satisfaction. Salaried individuals are increasingly seeking banking solutions that do more than just store their income. The Wio Personal Salary Plan addresses these concerns by transforming how employees interact with their primary source of income, turning standard salary accounts into tools for financial growth and stability. The Wio Personal Salary Plan converts a standard salary account into a comprehensive financial wellness tool. It offers 6% interest per annum on Fixed Saving Spaces—one of the highest in the UAE—and 3% interest per annum on current account balances, making Wio the first bank in the country to offer interest on everyday balances. These features enable automatic wealth building, creating a foundation for improved financial wellness without requiring active management. Jayesh Patel, CEO of Wio Bank PJSC, said: "In today's fast-paced economy, bank accounts should do more than just hold money—they should create opportunities for growth. People work hard for their income – we believe their earnings should work equally hard for them. We designed the Wio Personal Salary Plan to transform how people build wealth automatically with every paycheck, even when they're not actively managing their finances. This innovation directly supports our strategic mission to create financial tools that generate measurable value and empower customers to achieve greater financial security." The plan integrates multiple financial wellness components in one solution. Through one easy-to-use app, customers can save up to 3.5% on global transactions with multi-currency accounts in USD, EUR, and GBP, enjoy up to 2% cashback on credit card spending (up to AED 2,500 per month), and seamlessly invest in over 2,500 UAE and US stocks, ETFs, and cryptocurrencies. This holistic approach addresses key aspects of financial wellness—from daily money management to long-term wealth building—with a hassle-free digital account opening process that requires no paperwork. Available to those earning AED 15,000 or more monthly, the Wio Personal Salary Plan supports the UAE's vision for financial well-being and digital advancement. Companies partnering with Wio can offer their employees special access, providing an accessible financial wellness benefit at no cost to employers. In alignment with the UAE's broader vision of financial empowerment and inclusion, Wio Bank aims to support residents in building long-term financial wellness. By offering an innovative, high-yield banking solution, Wio Bank is contributing to the country's economic development by encouraging smarter saving habits, enhancing digital banking adoption, and reinforcing the UAE's position as a leader in fintech innovation. About Wio Bank PJSC: Wio Bank PJSC, the Middle East's first digital financial platform, is reimagining banking for individuals and businesses. Headquartered in Abu Dhabi and backed by strategic investors including ADQ, Alpha Dhabi, e&, and First Abu Dhabi Bank (FAB), Wio combines cutting-edge technology with a human-centric approach to deliver seamless, personalised financial solutions. For personal banking, Wio offers smart tools and insights to help users take control of their finances, enabling them to save, spend, and grow with ease. For businesses, Wio goes beyond traditional banking by providing entrepreneurs and SMEs with a comprehensive digital platform designed to streamline operations, unlock growth opportunities, and simplify financial management. Wio is redefining the banking landscape as a market leader in Banking-as-a-Service (BaaS) and embedded finance, delivering innovative solutions that empower people, businesses, and communities with the infrastructure they need to access long-term wealth creation. By offering an end-to-end, frictionless digital platform for both retail and business customers, Wio is disrupting traditional banking models, creating operational efficiencies, and unlocking value-added services through a transparent, personalised customer experience. Wio Bank's commitment to innovation has been widely recognized, being named '#1 Fintech in MENA' by Forbes Middle East and 'Digital Bank of the Year' at both the E-Business Awards 2024 and Tech Innovation Awards 2024. The bank has also received 'Best Retail Banking Digital App Experience' award, 'SME Bank of the Year' award, and 'Intelligent Banking and Finance Implementation' award. Additionally, Wio's leadership excellence was acknowledged with inclusion in the Top 34 GCC Banking CEO Power List 2024 by Finance Middle East. For more information, visit
Yahoo
09-04-2025
- Business
- Yahoo
New owner paid $5.27 million for La Quinta Inn in southeast Rochester
Apr. 9—ROCHESTER — A Wisconsin buyer recently paid $5.27 million for the La Quinta Inn and Suites hotel in southeast Rochester. The 83-room, four-story hotel at 4353 Canal Place SE in the Shoppes on Maine commercial area was purchased by RMN Hotel, LLC of West Salem, Wis. on March 28. RMN is led by Jayesh Patel, according to state records. The $5.27 million purchase price included $1.6 million for furniture, goodwill and personal property. Olmsted County estimated the market value of the property at $3.76 million for 2025-2026. Shakopee, Minnesota-based American Hospitality sold the 12-year-old hotel, which it had owned for seven years. American Hospitality purchased it in 2018 for $7.4 million. The 50,212-square-foot hotel was originally built by Fargo, North Dakota-based PLC Inc., led by Chuck Hayes. This is the fourth Rochester to change hands in the past four months. In December, Minneapolis-based Second Street Hotel Group LLC, which is led by Harshal Patel, paid $7.8 million for the 25-year-old SpringHill Suites hotel at 1125 Second St. SW. Terratron, a Utah-based firm with a big presence in Minnesota, paid $29.5 million for the Homewood Suites and Courtyard By Marriott hotels and related parking areas at 165/161 13th Ave. SW on Dec. 18.
