Kerala will continue to eat beef; BJP has no problem with it: Modi govt’s minister

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.

Bengaluru, Mar 19: To better enforce social distancing and prevent further spread of Covid-19, the Karnataka health and family welfare department on Wednesday said it will "stamp the back of the palm" of international passengers advised to be on home quarantine, along with the date they are allowed to get out of home. The stamping process began at 12am Thursday.

Pankaj Kumar Pandey, commissioner, health and family welfare, said: "It is noted that a few passengers under home quarantine are not following the instructions. Therefore, it has been decided to stamp the back of the palm of their left hand with a specially designed stamp which will indicate the last day of quarantine."

He said the special stamp will use an indelible ink and "airports in Karnataka have been instructed to follow this without fail". On average, about 3,000 people are arriving in Bengaluru on international flights every day.

The department said social distancing is the only known method of combating the spread of Covid-19 and added, "International passengers are segregated as symptomatic and asymptomatic."

High-risk flyers kept at mass quarantine unit

The symptomatic passengers (Group-A) are taken to designated hospitals; asymptomatic ones, depending on the port of origin, are taken to the quarantine centre or permitted to go on home quarantine.

At the mass quarantine centre, the asymptomatic passengers are divided into moderate-risk (Group-B) and high-risk (Group-C) categories.

“The high-risk passengers are kept at a mass quarantine centre for medical observation. The moderate-risk passengers are being sent for home quarantine where they need to spend 14 days,” the statement added.

Pandey said: “International passengers changing flights within the country cannot be stopped. Ideally, they should be stamped at the first port of entry when they arrive from a foreign country which is not happening.” He said this issue will be brought to the notice of the Directorate-General of Civil Aviation.

Bengaluru, Apr 15: Amir-e-Shariat Maulana Sagir Ahmad Khan Rashadi, Maulanaon Wednesday urged people to compulsorily follow the lockdown restrictions during the month of Ramdan.

Ramazan fastings should not be missed without valid reasons. As already mentioned, five namaz of the day should be performed at home and do not go to Mosques.

Taraweeh Namaz should be performed at home along with family members, he said at a meeting of Imarat-e-Sharia leaders held at Darul Uloom Sabilurrashad (Arabic College) in the city.