120 children died in Gorakhpur hospital in last 10 days

Jun 25: Tencent Holdings Ltd.'s $40 billion surge this week and the recent ascent of Pinduoduo Inc. have reshuffled the ranking of China's richest people.

The country's largest game developer has surpassed Alibaba Group Holding Ltd. as Asia's most-valuable company, with its shares rising above HK$500 in intraday trading Wednesday for the first time. Pinduoduo, a Groupon-like shopping app also known as PDD, has more than doubled this year.

The rallies have propelled the wealth of their founders, with an added twist: Tencent's Pony Ma, worth $50 billion, has surpassed Jack Ma's $48 billion fortune, becoming China's richest person. And Colin Huang of PDD, whose net worth stands at $43 billion, has squeezed real estate mogul Hui Ka Yan of China Evergrande Group out of the top three earlier this year, according to the Bloomberg Billionaires Index.

The coronavirus pandemic has accelerated the digitization of the workplace and changed consumers' habits, boosting shares of many internet companies. Now tech tycoons are dominating the ranks of China's richest people. They occupy four of the top five spots: Ding Lei of Tencent peer NetEase Inc. follows China Evergrande's Hui.

‘Perform Strongly'

Tencent has come a long way since hitting a low in 2018, when China froze the approval process for new games. Since then, the stock has almost doubled, and last month the tech giant reported a 26 per cent jump in first-quarter revenue.

“Tencent's online games segment will probably perform strongly through the Covid-19 pandemic, and most of its other businesses are relatively unscathed,” said Vey-Sern Ling, a Bloomberg Intelligence analyst.

That has been a boon for Pony Ma, 48, who owns a 7 per cent stake in the company and pocketed about $757 million from selling some 14.6 million of his Tencent shares this year, data complied by Bloomberg show.

The native of China's southern Guangdong province studied computer science at Shenzhen University and was a software developer at a supplier of telecom services and products before co-founding Tencent with four others in the late 1990s. At the time, the company focused on instant-messaging services.

It has been a long comeback for Pony Ma. He overtook real estate tycoon Wang Jianlin as China's second-richest person in 2013 and topped Baidu Inc.'s Robin Li as the wealthiest in early 2014. Later that year, Alibaba went public in the U.S., catapulting Jack Ma's fortune.

Bloomberg Intelligence's Ling notes, however, that Tencent's jump this year has lagged behind some internet peers, especially those in e-commerce, games and online entertainment. Just consider: Tencent shares have climbed 31 per cent in 2020, while PDD's American depositary receipts have more than doubled. Alibaba, meanwhile, has advanced just 6.9 per cent.

New Delhi, May 22: The number of COVID-19 cases averted due to the lockdown is in the range of 14-29 lakh, while the number of lives saved is between 37,000 and 78,000, the government said on Friday citing various studies, and asserted that the unprecedented shutdown has paid “rich dividends” in the fight against the pandemic.

The lockdown in India has been a timely, graded, proactive and pre-emptive public health measure to fight the COVID-19 pandemic and has been part and parcel of the government’s overall strategy, Dr V K Paul, Member (Health), NITI Aayog, and Chairman, Empowered Group 1, said at a media briefing on the COVID-19 situation.

The government imposed the nationwide lockdown from March 25 to prevent the spread of the novel coronavirus and it is currently in its fourth phase.

Like the number of cases, the growth rate of number of COVID-19 deaths too has fallen significantly due to the lockdown, marking a notable difference between pre-lockdown and post-lockdown situations, he said.

At the briefing, Pravin Srivastava, Secretary, Ministry of Statistics and Programme Implementation gave model-based estimates on COVID-19 cases and deaths which have been prevented due to the lockdown.

As per Boston Consulting Group's model, the lockdown saved between 1.2 lakh and 2.1 lakh lives, while the number of COVID-19 cases averted is between 36 lakh and 70 lakh, he said.

According to Public Health Foundation of India, nearly 78,000 lives have been saved due to the lockdown, Srivastava said.

Citing a model by two independent economists, he said that around 23 lakh COVID-19 cases and 68,000 deaths have been averted due to the lockdown.

Some independent experts, including retired scientists, have calculated that around 15.9 lakh cases and 51,000 deaths have been averted due to the lockdown, Srivastava said.

A joint study by the Ministry of Statistics and Programme Implementation and the Indian Statistical Institute found that around 20 lakh COVID-19 cases and 54,000 deaths were averted due to lockdown, he said.

The number of COVID-19 cases averted due to the lockdown is in the range of 14-29 lakh, while the number of lives saved is between 37,000 and 78,000, the official said.

“We are fully confident that the lockdown, with full public cooperation, has reaped rich dividends,” Srivastava said.

The strong defence of the lockdown, comes a day after the health ministry said the period of lockdown has been gainfully utilized to ramp up the health infrastructure, with around 3,027 dedicated COVID-19 hospitals and 7,013 care centres being readied across the country to fight the disease.

The announcement on Thursday came after some media reports questioned the country's preparedness to deal with the highly infectious disease.

"There are reports in a section of the media about some decisions of the government regarding the lockdown implementation and response to COVID-19 management. The period of the lockdown has been gainfully utilised to ramp up the health infrastructure in the country," the ministry had said.

Addressing the press briefing on Friday, joint secretary in the health ministry Lav Agarwal said 48,534 COVID-19 patients, which is about 41 per cent of the total cases, have recovered so far. As many as 3,234 patients have recovered in the last 24 hours, he said’

The COVID-19 mortality rate has dropped from 3.13 per cent on May 19 to 3.02 per cent as focus was on containment measures andclinical management of cases, Agarwal said.

An ICMR official said 27,55,714 tests for COVID-19 have been conducted till 1 pm Friday with 1,03,829 tests done in one day. Over 1 lakh tests for COVID-19 have been done each day for the last four days, the official said.

The growth rate of novel coronavirus cases witnessed a steep decline from Apr 4 when lockdown put a brake on the speed of increase of cases, V K Paul said.

The number of COVID-19 cases would have risen exponentially had the lockdown not been implemented, he said, adding that the doubling rate of cases was 3.4 days when the lockdown started and it is 13.3 days at present.

The COVID-19 outbreak in India has remained confined to limited areas with 80 per cent of active cases in just five states, Paul said

He said around 80 pc of COVID-19 deaths have been in Maharashtra, Gujarat, Madhya Pradesh, West Bengal and Delhi. 

New Delhi, Feb 18: Delhi Transport Minister Kailash Gahlot is the richest minister in the AAP government, according to a report released by the Association for Democratic Reforms (ADR) on Monday.

In a statement, the NGO said, Delhi Election Watch and ADR have analysed the self-sworn affidavits of all the seven-party leaders including Chief Minister Arvind Kejriwal.

According to the statement, the minister with the lowest declared total assets is Gopal Rai with assets worth Rs 90.01 lakh.

"The minister with the highest declared total assets is Kailash Gahlot from Najafgarh constituency with assets worth Rs 46.07 crore," it stated.

The report by ADR comes on the day Kejriwal and his six ministers took charge after the formation of the new AAP government.

Chief Minister Kejriwal and his cabinet colleagues took charge of their respective offices on Monday and asserted that they would work to fulfil the promises made in the "guarantee card", released during the poll campaign, including reduction in pollution and expansion of metro network.

Members of his Cabinet are -- Manish Sisodia, Satyendar Jain, Rajendra Pal Gautam, Imran Hussain, Gopal Rai and Kailash Gahlot.