COVID-19 Vaccine: UK to begin human trials on April 23; pumps in GBP 20 mn for project

Jun 2: A new female billionaire has emerged from one of Asia's most-expensive breakups.

Du Weimin, the chairman of Shenzhen Kangtai Biological Products Co., transferred 161.3 million shares of the vaccine maker to his ex-wife, Yuan Liping, according to a May 29 filing, immediately catapulting her into the ranks of the world's richest.

The stock was worth $3.2 billion as of Monday's close.

Yuan, 49 this year, owns the shares directly, but signed an agreement delegating the voting rights to her ex-husband, the filing shows. The Canadian citizen, who resides in Shenzhen, served as a director of Kangtai between May 2011 and August 2018. She's now the vice general manager of subsidiary Beijing Minhai Biotechnology Co. Yuan holds a bachelor's degree in economics from Beijing's University of International Business and Economics.

Kangtai shares have more than doubled in the past year and have continued their ascent since February, when the company announced a plan to develop a vaccine to fight the coronavirus. They slipped for a second day Tuesday following news of the divorce terms, losing 3.1% as of 9:43 a.m. in Hong Kong and bringing the company's market value to $12.9 billion.

Du's net worth has now dropped to about $3.1 billion from $6.5 billion before the split, excluding his pledged shares.

The 56-year-old was born into a farming family in China's Jiangxi province. After studying chemistry in college, he began working in a clinic in 1987 and became a sales manager for a biotech company in 1995, according to the prospectus of Kangtai's 2017 initial public offering. In 2009, Kangtai acquired Minhai, the company Du founded in 2004, and he became the chairman of the combined entity.

China's rapidly growing economy has been an engine for the country's richest, and Du is not the only tycoon who's had to pay a steep price for a divorce. In 2012, Wu Yajun, at one point the nation's richest woman, transferred a stake worth about $2.3 billion to her ex-husband, Cai Kui, who co-founded developer Longfor Group Holdings Ltd. In 2016, tech billionaire Zhou Yahui gave $1.1 billion of shares in his online gaming company, Beijing Kunlun Tech Co., to ex-wife Li Qiong after a civil court settlement.

Sometimes, a goodbye can be time-consuming too. South Korean tycoon Chey Tae-won's wife filed a lawsuit in December asking for a 42.3% stake in SK Holdings Co. valued at $1.2 billion. That would make her the second-largest shareholder of the company should she win the case, which is still ongoing.

The most expensive divorce in history is that of Jeff and MacKenzie Bezos. The Amazon.com Inc. founder gave 4% of the online retailer to Mackenzie, who now has a $48 billion fortune and is the world's fourth-richest woman.

Hong Kong, Jun 10: The Hong Kong police on Wednesday said they had arrested 53 people during demonstrations on Tuesday evening which were called to mark the one-year anniversary of the protest against a bill proposing extraditions to mainland China. That protest grew into a pro-democracy movement and sparked seven months of protests against Beijing's rule.

Hundreds of activists took to the streets in Hong Kong yesterday, at times blocking roads in the heart of the city, before police fired pepper spray to disperse crowds, Al Jazeera reported.

The police informed that 36 males and 17 females were arrested for offenses including unlawful assembly and disorderly conduct.

Protesters had defied a ban on gatherings of more than eight people introduced by the Hong Kong government to prevent the spread of the coronavirus.

"Lawful protests are always respected, but unlawful acts are to be rejected. Please stop breaking the law," police said in a tweet.

More protests are being planned in the coming days, with pro-democracy supporters fearing the proposed national security legislation will stifle freedoms in the city.

While details of the security law or how it will operate have yet to be revealed, authorities in Beijing and Hong Kong have said there is no cause for concern and the legislation will target a minority of "troublemakers".

But critics say the law would destroy the civil liberties Hong Kong residents enjoy under the "one country, two systems" agreement put in place when the United Kingdom handed the territory back to China in 1997. The agreement is set to end in 2047.

Japan had already issued a statement independently expressing serious concern about Beijing's move on May 28, the day China approved the decision and called in the Chinese ambassador to convey its view.

The United States, Britain, Australia, and Canada also condemned the move, with Washington saying it would revoke Hong Kong's special trading status granted under a 1992 law on the condition that the city retains key freedoms and autonomy.

China blames the protests in part on foreign intervention and is rushing to enact the national security law aimed at curbing secessionist and subversive activities in Hong Kong.

Saint Martin's Island, Feb 12: At least 15 women and children drowned and more than 50 others were missing after a boat overloaded with Rohingya refugees sank off southern Bangladesh as it tried to reach Malaysia Tuesday, officials said.

Some 138 people -- mainly women and children -- were packed on a trawler barely 13 metres (40 feet) long, trying to cross the Bay of Bengal, a coast guard spokesman told news agency.

"It sank because of overloading. The boat was meant to carry maximum 50 people. The boat was also loaded with some cargo," another coast guard spokesman, Hamidul Islam, added.

Nearly one million Rohingya live in squalid camps near Bangladesh's border with Myanmar, many fleeing the neighbouring country after a 2017 brutal military crackdown.

With few opportunities for jobs and education in the camps, thousands have tried to reach other countries like Malaysia and Thailand by attempting the hazardous 2,000-kilometre journey.

In the latest incident, 71 people have been rescued including 46 women. Among the dead, 11 were women and the rest children.

Anwara Begum said two of her sons, aged six and seven, drowned in the tragedy.

"We were four of us in the boat... Another child (son, aged 10) is very sick," the 40-year-old told news agency.

Fishermen tipped off the coast guard after they saw survivors swimming and crying for help in the sea.

The boat's keel hit undersea coral in shallow water off Saint Martin's Island, Bangladesh's southernmost territory, before it sank, survivors said.

"We swam in the sea before boats came and rescued us," said survivor Mohammad Hossain, 20.

Coast guard commander Sohel Rana said three survivors, including a Bangladeshi, were detained over human trafficking allegations.

An estimated 25,000 Rohingya left Bangladesh and Myanmar on boats in 2015 trying to get to Thailand, Malaysia and Indonesia. Hundreds drowned when overloaded boats sank.

Begum said her family paid a Bangladeshi trafficker $450 per head to be taken to Malaysia.

"We're first taken to a hill where we stayed for five days. Then they used three small trawlers to take us to a large trawler, which sank," she said.

Shakirul Islam, a migration expert whose group works with Rohingya to raise awareness against trafficking, said desperation in the camps was making refugees want to leave.

"It was a tragedy waiting to happen," he said.

"They just want to get out, and fall victim to traffickers who are very active in the camps."

Islam said in the past two months dozens of Rohingya reported approaches from traffickers to his OKUP migration rights group.

"Human smuggling and trafficking in the Bay of Bengal is particularly difficult to address as it requires concerted effort from multiple states," the Bangladesh head of UN agency the International Organization for Migration, Giorgi Gigauri, told news agency.

"The gaps in coordination are easily exploited by criminal networks."

Since last year, Bangladeshi authorities have picked up over 500 Rohingya from rickety fishing trawlers or coastal villages as they waited to board boats.

Trafficking often increases during the November-March period when the sea is safest for the small trawlers used by traffickers.

Bangladesh and Myanmar signed a repatriation deal to send back some Rohingya to their homeland, but none have agreed to return because of safety fears.

The charity Save the Children called on Myanmar to "take all necessary steps to ensure the Rohingya community can return to their homes in a safe and dignified manner".

"The tragic drowning of women and children... should be a wake-up call for us all," the group's Athena Rayburn said in a statement.