A SOCIAL CARE enterprise run by two brothers won the top award at Eastern Eye’s Asian Business Awards (ABAs) in London tonight (22).
Haroon and Farouq Sheikh, who founded CareTech in 1993, building the company into a multi-million-pound business of residential care homes across the UK, was named the Asian Business of the Year at a gala event on Friday.
The pair were among 10 winners at the event, along with entrepreneur Kailash Shah and businesswoman Mala Agarwal.
They were all Asian business men and women recognised for their successes and contribution to the British economy at the annual event, hosted by the Asian Media Group, publishers of Eastern Eye and Garavi Gujarat newsweeklies.
The evening also saw the unveiling of the latest edition of the Asian Rich List, which profiles the top 101 wealth creators of Asian origin in Britain. The Hinduja family topped the list with an estimated wealth of £25 billion, followed by steel tycoon Lakshmi Mittal (£11.2bn) and SP Lohia in third place (£5.8bn).
Shailesh Solanki, executive editor of AMG, described the Rich List as “the definitive guide to Asian wealth in Britain”.
“This year’s list is once again a fascinating commentary on the financial impact British Asians have in the UK and the level of success and growth that certain entrepreneurs and business leaders have achieved,” he said.
Chancellor Phillip Hammond MP was the chief guest at the gala event and paid tribute to the remarkable efforts of Asian business leaders in the UK.
“The Asian business community in the UK has gone from strength to strength," said Hammond.
"Asian markets have become more and more important to British businesses and the global balance of economic power has shifted decisively in favour of the emerging Asian economies. Later this year, India will overtake the UK to become the world’s fifth largest economy."
He added: "My beliefs when I first became an MP are the same things that drive me 22 years later as chancellor of the exchequer.
"A belief in the market economy as the best, indeed, the only way to deliver future prosperity for the British people.
"A belief in Britain as an open, tolerant, outward-looking nation, confident and competitive in the world.
"And above all, a belief in the power of business – that self-starters, entrepreneurs, investors are the engine of our economy, and the bedrock of our communities. And our job in government is to reinforce that vision and support successful business leaders like you to power up the British economy for the 21st Century."
Kalpesh Solanki, group managing editor of AMG, said the ABAs had become the definitive platform to recognise and celebrate success of the Asian business community “by providing the oxygen of publicity and recognition that highlights unsung heroes.”
Addressing the audience, he noted concerns over Brexit and what impact it would have on businesses across the country.
“Businesses have rarely confronted such uncertainty and whether you voted to leave or to remain, it is now time for us as entrepreneurs to look towards the future and help shape it,” he said.
Winners on the night included family and independent businesses, entrepreneurs and a charitable foundation.
The Hinduja Foundation was presented the Philanthropy Award, in honour of their charitable efforts. The organisation runs a variety of projects, including rural development, healthcare, education, water resources and social welfare. In the UK, they are known for their supportive work with educational institutions such as the University of Cambridge.
Kailesh Suri, the founder of Reel Cinemas, won the Business Personality of the Year award. Suri, who formed the independent brand of cinemas in 2001, has strived to create an “experience” for cinema-goers. Operating 15 separate venues across the country, the venues provide a series of social areas including bars, bowling alleys, games rooms, laser quest and escape rooms.
Rishi Khosla, CEO and co-founder of OakNorth Bank, was crowned as the Entrepreneur of the Year. Khosla set up the fintech company in 2014 with his fellow co-founder Joel Perlman, whom he met while studying at the London School of Economics. In the last year, Oaknorth became the first digital bank to record a profit with a pre-tax figure of £10.6m.
The Businesswoman of the Year award was handed to Mala Agarwal, the managing director at Athena Care Homes. Agarwal, who has been involved in the care home sector since her teen years, set up the business in 2014. Taking over properties which needed severe improvement, they were rated as “good” by the Care Quality Commission after just two years.
BBC presenter Nihal Arthanayake compered the event, while singer Shama provided entertainment for the evening.
Guests included captains of industry, MPs, community leaders and celebrities from the word of arts, media and entertainment. They gave generously to a charity appeal by Great Ormond Street Hospital.
Asian Business Awards - Winners
Restaurant Business Award
The Cinnamon Club
Franchise Business Award
Amsric
Care Home Operator of the Year
CHD Living
Businesswoman of the Year Award supported by Damac
Mala Agarwal, Managing Director, Athena Care Homes
Young Entrepreneur of the Year supported by SBI
Dr Nikhil Shah, Director, London Town Group
Healthcare Business Award supported by Shanti/C&C Alpha
Sigma Pharmaceuticals
Entrepreneur of the Year supported by Edwardian Hotels London
Rishi Khosla, CEO & Co-Founder, Oaknorth Bank
Business Personality of the Year
Kailesh Suri, Founder, Reel Cinemas
Philanthropy Award
Hinduja Foundation
Asian Business of the Year
CareTech
You can order a copy of the Asian Rich List by contacting Saurin.Shah@amg.biz
MICROSOFT CEO Satya Nadella on Wednesday (17) said the American tech giant is “doubling down” on its investments in Britain as US president Donald Trump began his state visit with the launch of a US-UK Tech Prosperity Deal.
The agreement focuses on advancing fast-growing technologies such as artificial intelligence (AI), quantum computing, and nuclear innovation.
Trump spent the night at the US ambassador’s residence, Winfield House in central London, before receiving a royal welcome at Windsor Castle. He also spoke by phone with prime minister Keir Starmer ahead of their formal talks on Thursday (18).
The visit opened with a series of investment pledges described as a “generational step change”, committing joint resources and expertise into emerging technologies across both nations.
“We’re committed to creating new opportunity for people and businesses on both sides of the Atlantic, and to ensuring America remains a trusted and reliable tech partner for the UK,” Nadella, the Indian American Microsoft chief, said in a statement.
“That is why we are doubling down on our investment in the UK, investing more than $30 billion over four years, including building the country’s largest supercomputer,” he added.
Alongside Microsoft, NVIDIA, Google, OpenAI, and CoreWeave are among the US technology companies pledging a combined £31bn to strengthen the UK’s AI infrastructure, including data centres and computer chips.
Starmer welcomed the deal, saying: “This Tech Prosperity Deal marks a generational step change in our relationship with the US, shaping the futures of millions of people on both sides of the Atlantic, and delivering growth, security and opportunity up and down the country.
“By teaming up with world-class companies from both the UK and US, we’re laying the foundations for a future where together we are world leaders in the technology of tomorrow, creating highly skilled jobs, putting more money in people’s pockets and ensuring this partnership benefits every corner of the UK.”
The deal will support new AI models for breakthroughs in medicine, including cancer and rare disease treatment, as well as shared priorities such as fusion energy.
UK technology secretary Liz Kendall described the pact as “a vote of confidence in Britain’s booming AI sector – building on British success stories such as Arm, Wayve and Google DeepMind – that will boost growth and deliver tens of thousands of skilled jobs.”
As part of the agreement, a new AI Growth Zone will host early deployment of OpenAI’s Stargate UK project at Cobalt Park.
Sam Altman, CEO of OpenAI, said: “The UK has been a longstanding pioneer of AI, and is now home to world-class researchers, millions of ChatGPT users, and a government that quickly recognised the potential of this technology. Stargate UK builds on this foundation to help accelerate scientific breakthroughs, improve productivity, and drive economic growth.”
The Tech Prosperity Deal set the stage for Trump’s state welcome at Windsor Castle, featuring a gilded carriage procession, guard of honour, and a State Banquet hosted by King Charles.
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FILE PHOTO: A member of staff works on the production line at Jaguar Land Rover’s factory in Solihull, Britain. REUTERS/Phil Noble
BRITAIN's largest carmaker, Jaguar Land Rover, said a pause in production due to a cyber attack would now stretch to September 24, extending the stoppage at its plants to more than three weeks.
The luxury carmaker, owned by India's Tata Motors, said it shut down its systems in early September to contain the hack that has severely disrupted its retail and manufacturing operations.
Its three factories in Britain, which usually produce about 1,000 cars per day, will now not restart until September 24, the company said on Tuesday (16). It has told many of its 33,000 staff to stay at home.
"We have taken this decision as our forensic investigation of the cyber incident continues, and as we consider the different stages of the controlled restart of our global operations, which will take time," JLR said in a statement on its website.
There is concern about the financial impact of the stoppage on JLR's British supply chain, which includes many smaller companies and supports 104,000 jobs across the country. The Unite trade union has warned of job losses and said government support would be needed given the lengthy stoppage.
Chris McDonald, minister in the Department of Business and Trade, told Reuters he had met the company on Tuesday to "discuss their plans to resolve this issue and get production started again".
"Our cyber experts are supporting JLR to help them resolve this issue as quickly as possible," he added.
The Telegraph reported on Monday (15) that the production shutdown could last until November, although JLR said this was not its position.
JLR has said the incident has affected some data, although it remains unclear whether it involved customers, suppliers or internal systems.
The breach was the latest in a string of cyber and ransomware attacks targeting companies around the world. In Britain, household names including Marks & Spencer and the Co-op have fallen victim to increasingly sophisticated breaches.
The disruption comes as JLR faces broader challenges, including weaker demand in China and Europe, and delays to the launch of its electric vehicle models.
In July, JLR reported an 11 per cent drop in quarterly sales, partly due to a temporary pause in US shipments after tariffs were imposed. Although exports resumed in May, the company cut its profit margin target for fiscal 2026 to 5 per cent to 7 per cent, down from 10 per cent, citing ongoing trade uncertainty.
Dr Sudhir Ruparelia emphasised Uganda’s growing real estate, agriculture and tourism sectors.
Lord Dolar Popat called for closer Commonwealth ties between Africa, the UK and India.
Uganda’s ministers outlined regional integration, investment climate and agricultural transformation.
Spiritual leader Sant Trilochan Darshan Das Ji urged ethical entrepreneurship rooted in integrity.
The 15th edition of the UK–Africa Business Summit took place on Friday, 12 September at The Royal Horseguards Hotel & One Whitehall Place, bringing together senior government leaders, entrepreneurs, investors and diaspora stakeholders to strengthen trade and investment ties between the UK and African nations.
One of the most anticipated interventions came from Dr Sudhir Ruparelia, Uganda’s richest businessman with an estimated fortune of $1.6 billion. Speaking of his family’s deep commitment to Uganda, Ruparelia said: “We’ve created thousands of jobs, benefiting millions of Ugandans. The real estate sector remains vibrant and agriculture presents countless opportunities. Hospitality and tourism are thriving – let’s seize the moment.”
Lord Dolar Popat, Member of the House of Lords and former UK Prime Minister’s Envoy to Africa, addressed Africa’s pivotal role amid shifting global trade realities. He urged closer Commonwealth ties, emphasising collaboration between Africa, the UK and India to strengthen trade resilience.
The summit also hosted influential voices from government and diplomacy:
Rt Hon Rebecca Kadaga, Uganda’s First Deputy Prime Minister and Minister for East African Community Affairs, set out East Africa’s integration agenda, focusing on accelerating AfCFTA adoption, removing non-tariff barriers and coordinating infrastructure to position the region as a competitive investment market.
Uganda featured prominently throughout the summit. Col Edith Nakalema highlighted the enabling investment climate under President Yoweri Kaguta Museveni, particularly through technology-driven efficiency in SHIPU’s operations to safeguard investors against cyber fraud.
UK–Africa business summit 2025
Dr Hillary Musoke Kisanja, Senior Presidential Advisor on Agribusiness and Value-Addition Development, unveiled Uganda’s roadmap to transform agriculture into a high-value, climate-resilient driver of growth.
HE Nimisha Madhvani, Uganda’s High Commissioner to the UK, joined other diplomats in a flagship session on trade, resilience and diplomacy, where participants examined how Africa can redefine its partnerships with the UK in an era of shifting alliances.
The Ugandan delegation also included Ruth Nankabirwa, Minister of Energy and Mineral Development; Gen David Muhoozi, Minister of State for Internal Affairs; Lt Gen Joseph Musanyufu, Permanent Secretary of the Internal Affairs Ministry; and Maj Gen Apollo Kasiita-Gowa, Director of Citizenship and Immigration Control.
UK–Africa business summit 2025
Faith and ethical entrepreneurship
Spiritual leader Sant Trilochan Darshan Das Ji, head of Das Dharam-Sachkhand Nanak Dham, graced the summit as Honorary Chief Guest. He urged delegates to embrace ethical entrepreneurship and align economic ambition with values of integrity and social good.
Spiritual leader Sant Trilochan Darshan Das Ji, head of Das Dharam-Sachkhand Nanak Dham, graced the summit as Honorary Chief Guest
A platform for resilience
Summit founder and chairman Willy Mutenza acknowledged the challenges posed by renewed US tariffs and shifting geopolitical alignments, but stressed Africa’s resilience, pointing to expanding markets, a youthful population and growing infrastructure as long-term opportunities for investors.
Prof Augustus Nuwagaba, Deputy Governor of the Bank of Uganda, reinforced this vision with a presentation on Uganda’s sustained economic growth trajectory.
UK–Africa business summit 2025
Innovation and Africa’s future
The summit concluded with a high-level panel on digital trade, e-mobility, AI and climate-resilient investment. Industry leaders highlighted Africa’s emerging innovation-led growth model, from Kenya’s fintech ecosystems to Uganda’s science-based industrial strategy. The session underscored the importance of digital sovereignty, blended finance and ESG-aligned investment to unlock inclusive economic growth.
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Donald Trump and Narendra Modi shake hands as they attend a joint press conference at the White House on February 13, 2025.
INDIA and the United States will hold trade discussions in New Delhi on Tuesday, officials and Indian media reports said, as the two countries look to resolve a tariff dispute.
India currently faces high US tariffs on most of its exports and has not yet been able to reach a trade deal that would ease the pressure.
Trump has sought to increase pressure on Moscow over the war in Ukraine. The move has added to tensions between Washington and New Delhi.
Both governments, however, have said they remain committed to talks.
Commerce ministry official Rajesh Agarwal said on Monday that officials would meet in person on Tuesday for discussions, The Indian Express reported.
According to broadcaster NDTV, Brendan Lynch, assistant trade representative for South and Central Asia, will be part of the US delegation. The report said the discussions would be a “precursor” to a later full round of negotiations.
The talks come a week after Trump said discussions would continue between the two sides to address trade barriers.
“I feel certain that there will be no difficulty in coming to a successful conclusion for both of our Great Countries!,” Trump posted on Truth Social last week, without providing details.
Indian prime minister Narendra Modi responded by calling India and the United States “close friends and natural partners” and said teams from both sides were working to conclude discussions “at the earliest”.
(With inputs from agencies)
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Piyush Goyal recalled that in February, Narendra Modi and Donald Trump had instructed their trade ministers to conclude the first phase of the bilateral trade agreement (BTA) by November 2025. (Photo: Getty Images)
INDIA’s commerce and industry minister Piyush Goyal on Thursday said that negotiations on the proposed trade agreement between India and the United States, which began in March, are progressing in a positive atmosphere and both sides are satisfied with the discussions.
He recalled that in February, Indian prime minister Narendra Modi and US president Donald Trump had instructed their trade ministers to conclude the first phase of the bilateral trade agreement (BTA) by November 2025.
“Discussions have been going on in a positive atmosphere with seriousness since March. It is progressing, and both the countries are satisfied with the progress,” Goyal told reporters. On Wednesday, he had also said that India is in “active dialogue” with the United States.
Trump this week said there would be “no difficulty” for the two countries to reach a successful conclusion and that he looked forward to speaking with his “very good friend” Modi in the coming weeks. In a post on Truth Social, he wrote he was “pleased to announce that India, and the United States of America, are continuing negotiations to address the Trade Barriers between our two Nations.”
Modi responded on X, welcoming Trump’s statement and expressing confidence that the negotiations would help unlock the potential of the partnership. He said India and the US are close friends and natural partners and are working to conclude the discussions at the earliest.
The two countries have completed five rounds of negotiations since March. The sixth round, scheduled to take place in India last month, was deferred after Washington imposed an additional 25 per cent tariff on Indian goods over purchases of Russian crude oil.
The aim of the pact is to more than double bilateral trade in goods and services to USD 500 billion by 2030 from the current USD 191 bn. Trade ties have been strained due to tariffs, with the US imposing a 50 per cent import duty on Indian goods from August 27. The move has hit exports from labour-intensive sectors such as shrimp, textiles, leather and footwear. India has described the tariffs as unfair, unjustified and unreasonable.
Talks have also been delayed over US demands for greater access in sensitive sectors such as agriculture and dairy. India has said repeatedly that it will not compromise the interests of small and marginal farmers and cattle rearers.
The US is India’s largest trading partner. In 2024-25, bilateral trade in goods was USD 131.8 bn, with India’s exports at USD 86.5 bn and imports at USD 45.3 bn. The US is also the third-largest investor in India, with foreign direct investment of USD 76.26 bn between April 2000 and June 2025, accounting for 10 per cent of India’s total FDI inflows.
On protests in Nepal, Goyal said the Indian government is monitoring the situation and working to bring back Indian citizens stranded there. He added that the Indian mission in Nepal is ready to provide support and expressed hope for normalcy to return soon.