India offers $1 billion loan for development of Russia’s Far East

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.

Wellington, Mar 25: New Zealand has declared a state of emergency as it prepares to go into an unprecedented lockdown late Wednesday for about a month.

The declaration temporarily gives police and the military extra powers. And Prime Minister Jacinda Ardern says any New Zealanders returning home from overseas who show symptoms of COVID-19 will be put in isolation at an approved facility.

“I have one simple message for New Zealanders today as we head into the next four weeks: ‘stay at home,’” Ardern said. “It will break the chain of transmission and it will save lives.”

Ardern said exceptions include people working crucial jobs, those leaving to pick up essentials like groceries, and those engaging in solitary exercise.

The country has 205 reported cases of the virus, although Ardern said that number could rise into the thousands before it begins to recede even with the strict measures being taken.

London, May 3: The British government had a contingency plan for prime minister Boris Johnson’s death as his condition deteriorated while he battled COVID-19 last month in intensive care, Johnson said in an interview with The Sun newspaper.

Johnson returned to work on Monday, a month after testing positive for COVID-19. Johnson, 55, spent 10 days in isolation in Downing Street from late March, but was then was taken to London’s St Thomas’ Hospital where he received oxygen treatment and spent three nights in intensive care.

“They had a strategy to deal with a ‘death of Stalin’-type scenario,” Johnson, 55, was quoted as saying by The Sun. “It was a tough old moment, I won’t deny it.”

After Johnson was discharged, St Thomas’ said it was glad to have cared for the prime minister, but the hospital has given no details about the gravity of his illness beyond stating that he was treated in intensive care.

Johnson and his fiancée, Carrie Symonds, on Saturday announced the name of their newly born son as Wilfred Lawrie Nicholas, partly as a tribute to two of the intensive care doctors who they said had saved Johnson’s life.

“The doctors had all sorts of arrangements for what to do if things went badly wrong,” Johnson said of his COVID-19 battle. “The bloody indicators kept going in the wrong direction.”

He said doctors discussed invasive ventilation.

“The bad moment came when it was 50-50 whether they were going to have to put a tube down my windpipe,” he said. “That was when it got a bit . . . they were starting to think about how to handle it presentationally.”