Wanted Sri Lanka radical Hashim dies in hotel attack

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, Jun 11: The death toll due to COVID-19 rose to 8,102 and the number of cases climbed to 2,86,579 in the country after it registered the highest single-day spike of 357 fatalities and 9,996 cases till Thursday 8 AM, according to the Union Health Ministry data.

The number of recoveries remained more than the active novel coronavirus cases for the second consecutive day.

The number of active cases stands at 1,37,448 while 1,41,028 people have recovered and one patient has migrated to another country, as per the data.   

"Thus, around 49.21 per cent patients have recovered so far," an official said.

The total number of confirmed cases include foreigners.

Of the 357 new deaths reported till Thursday morning, 149 were in Maharashtra, 79 in Delhi, 34 in Gujarat, 20 in Uttar Pradesh, 19 in Tamil Nadu, 17 in West Bengal, eight in Telangana, seven each in Madhya Pradesh and Haryana, four in Rajasthan, three each in Jammu and Kashmir and Karnataka, two each in Kerala and Uttarakhand, one each in Andhra Pradesh, Bihar and Himachal Pradesh.

Out of the total 8,102 fatalities, Maharashtra tops the tally with 3,438 deaths followed by Gujarat with 1,347 deaths, Delhi with 984, Madhya Pradesh with 427, West Bengal with 432, Tamil Nadu with 326, Uttar Pradesh with 321, Rajasthan with 259 and Telangana with 156 deaths.

The death toll reached 78 in Andhra Pradesh, 69 in Karnataka and 55 in Punjab. Jammu and Kashmir has reported 51 fatalities due to the coronavirus disease, while 52 deaths have been reported from Haryana, 33 from Bihar, 18 from Kerala, 15 from Uttarakhand, nine from Odisha and eight from Jharkhand.

Chhattisgarh and Himachal Pradesh have registered six COVID-19 fatalities each, Chandigarh has five while Assam has recorded four deaths so far. Meghalaya, Tripura and Ladakh have reported one COVID-19 fatality each, according to the ministry's data.

More than 70 per cent of the deaths are due to comorbidities, the ministry's website stated.

New Delhi, Jan 15: The Delhi government Wednesday told the high court that execution of the death row convicts in the Nirbhaya gangrape and murder case will not take place on January 22 as a mercy plea has been filed by one of them.

The four convicts -- Vinay Sharma (26), Mukesh Kumar (32), Akshay Kumar Singh (31) and Pawan Gupta (25) -- are to be hanged on January 22 at 7 am in Tihar jail. A Delhi court had issued their death warrants on January 7.

Justices Manmohan and Sangita Dhingra Sehgal were told by the Delhi government and the Centre that the petition filed by convict Mukesh, challenging his death warrant, was premature.

The Delhi government and the prison authorities informed the court that under the rules, it will have to wait for the mercy plea to be decided before executing the death warrant.

They also said that none of the four convicts can be executed on January 22 unless the present mercy plea is decided.

The Supreme Court had on Tuesday dismissed the curative pleas of Mukesh and Vinay.

The mercy plea hearing began Wednesday morning and will continue in the afternoon.