Gotabaya Rajapaksa claims victory in Sri Lanka presidential election

News Network
November 17, 2019

Colombo, Nov 17: Sri Lanka's former wartime defence secretary Gotabaya Rajapaksa has been elected president, his spokesman said Sunday following a fiercely fought election seven months after terror attacks killed 269 people.

The 70-year-old retired lieutenant colonel had a 48.2 per cent share of the vote with close to three million ballots counted but results from Sinhalese-majority regions -- the Rajapaksas' core support base -- were expected to push this above 50 per cent.

"We got between 53 to 54 per cent," his spokesman Keheliya Rambukwella told news agency.

"It is a clear win. We envisaged it. We are very happy that Gota will be the next president. He will be sworn in tomorrow or the day after," Rambukwella said.

Sri Lanka's ruling party candidate Sajith Premadasa conceded the presidential poll on Sunday and congratulated his main rival, former wartime defence secretary Gotabaya Rajapaksa.

"It is my privilege to honour the decision of the people and congratulate Mr. Gotabaya Rajapaksa on his election as the seventh President of Sri Lanka," Premadasa said.

Election Commission chairman Mahinda Deshapriya said at least 80 percent of the 15.99 million eligible voters participated in Saturday's poll, which was marred by isolated violence that left several people injured.

Rajapaksa conducted a nationalist campaign with a promise of security and a vow to crush religious extremism in the Buddhist-majority country following the April 21 suicide bomb attacks blamed on a homegrown terror group.

Three luxury hotels and three churches were targeted in the coordinated bombings. ISIS too claimed responsibility for the attack which left 45 foreigners dead.

Saturday's poll was the first popularity test of the United National Party (UNP) government of Prime Minister Ranil Wickremesinghe who stepped aside and allowed his deputy Premadasa to stand in the election.

Intelligence failure

Wickremesinghe's administration faced severe criticism for failing to prevent the attacks despite prior warnings from an intelligence agency of neighbouring India, according to findings of a parliamentary investigation.

Premadasa also offered better security and a pledge to make a former war general, Sarath Fonseka, his national security chief and projected himself as a victim seeking to crush terrorism.

He is the son of assassinated ex-president Ranasinghe Premadasa who fell victim to a tamil rebel suicide bomber in May 1993.

Gotabaya is credited with directing security forces to crush Tamil rebels and end a 37-year separatist war in May 2009 during the tenure of his elder brother Mahinda, who was president from 2005 to 2015.

The Rajapaksas are adored by Sri Lanka's Sinhalese majority, as well as the powerful Buddhist clergy, for defeating Tamil Tiger separatists and ending a 37-year civil war in 2009.

But they are detested and feared by many Tamils, who make up 15 percent of the population. The conflict ended with some 40,000 Tamil civilians allegedly killed by the army.

Some in the Muslim community, who make up 10 percent of the population, are also fearful of Gotabaya becoming president, having faced days of mob violence in the wake of the April attacks.

Under his brother, Gotabaya was defence secretary and effectively ran the security forces, allegedly overseeing "death squads" that bumped off rivals, journalists and others. He denies the allegations.

During that time Sri Lanka also borrowed heavily from China for infrastructure projects and even allowed two Chinese submarines to dock in Colombo in 2014, alarming Western countries as well as India.

The projects ballooned Sri Lanka's debts and many turned into white elephants -- such as an airport in the south devoid of airlines -- mired in corruption allegations.

China also offered Sri Lanka "international diplomatic protection" against criticism for its rights record, analyst Paikiasothy Saravanamuttu told news agency.

The Rajapaksas "spent and spent without giving any consideration to how it has to be paid back".

Unlike in 2015 when there were bomb attacks and shootings, this election was relatively peaceful by the standards of Sri Lanka's fiery politics.

The only major incident was on Saturday when gunmen fired at two vehicles in a convoy of at least 100 buses taking voters from the Muslim minority to vote. Two people were injured.

After a campaign that according to the Election Commission was the worst ever for hate speech and misinformation, final results could come by later Sunday.

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News Network
June 2,2020

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.

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News Network
February 13,2020

Feb 13: Two Indian crew on board a cruise ship off the Japanese coast have tested positive for the novel coronavirus, the Indian Embassy in Japan said on Wednesday as authorities confirmed that 174 people have been infected with the deadly disease.

The cruise ship Diamond Princess with 3,711 people on board arrived at the Japanese coast early last week and was quarantined after a passenger who de-boarded last month in Hong Kong was found to be the carrier of the novel virus on the ship.

A total of 138 Indians, including passengers and crew, were on board the ship.

“Due to the suspicion of novel coronavirus (nCoV) infection, the ship has been quarantined by the Japanese authorities till February 19, 2020,” the embassy said in a statement.

“Altogether 174 people have been tested positive for nCoV, including two Indian crew members,” it said.

All the infected people have been taken to hospitals for adequate treatment, including further quarantine, in accordance with the Japanese health protocol, it said.

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News Network
June 3,2020

Washington, Jun 3: US President Donald Trump's administration on Tuesday announced investigations into foreign digital services taxes it says are aimed squarely at American tech firms.

Following a similar trade investigation against France last year, the US Trade Representative office now is looking into taxes in Britain and the European Union, as well as Indonesia, Turkey and India.

"President Trump is concerned that many of our trading partners are adopting tax schemes designed to unfairly target our companies," USTR Robert Lighthizer said in a statement.

"We are prepared to take all appropriate action to defend our businesses and workers against any such discrimination."

Washington opposes the efforts to tax revenues from online sales and advertising, saying they single out US tech giants like Google, Apple, Facebook, Amazon and Netflix.

The US and France have agreed to negotiate till the end of the year over a digital services tax Paris approved in 2019, after USTR found them to be discriminating and threatened retaliatory duties of up to 100 percent on French imports such as champagne and camembert cheese.

Trump has embroiled the US in numerous trade disputes since taking office in 2017, including a months-long trade war with China that cooled with the signing of a partial deal in January.

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