Ernakulam: Joy Arakkal, one of Kerala's richest expat businessman and owner of oil refineries in the Gulf region, who died a week ago, had committed suicide, the Dubai police has confirmed.
Arakkal took the extreme step owing to financial issues amid reports of a recession looming large over the Gulf region. The owner of refinery firm Innova Refining & Trading Fze, that generates an estimated $125 million in annual sales, had jumped off the 14th floor of his office building in Dubai's financial hub Business Bay, the local police said. “We received a report about a man plunging to his death from the 14th floor of a friend's building ...