J&K Chief Minister Mufti Mohammad Sayeed dies aged 79

January 7, 2016

Jammu and Kashmir Chief Minister Mufti Mohammad Sayeed, a crafty politician who took on the powerful Abdullah family and rose to become the country's first Muslim Home Minister, died today at AIIMS here after his platelets dropped dangerously.

sayeedSayeed, 79, who took charge of the state on March 1 last year heading a PDP-BJP alliance, breathed his last this morning after remaining on ventilator for the past few days.

He was flown from Srinagar in a special plane on December 24 and admitted to the AIIMS where he was diagnosed with sepsis (life threatening complication of an infection) and pneumonia. During hospitalisation his platelets had dropped dangerously, doctors said.

He is the second J and K Chief Minister to die in office, the first one being Sheikh Mohammad Abdullah who died on September 8, 1982.

Sayeed's daughter 56-year-old Mehbooba is expected to take over as the first woman Chief Minister of the state with PDP leaders throwing their weight behind her. But this will require the approval of BJP.

Sayeed is survived by his wife, three daughters and a son.

Jammu and Kashmir government has declared a seven-day mourning and holiday today. Flags will be flown at half mast.

The mortal remains of the Chief Minister would be flown to Srinagar where the body will be kept for people to pay homage. He is likely be buried in his ancestral village Bijbehera in South Kashmir, about 48 kms from Srinagar.

Sayeed took over as chief minister of PDP-BJP coalition on March 1 last year. In the 87-member J and K Assembly PDP won 28 seats and BJP 25 while opposition National Conference got 15 and Congress 12.

Condoling the death of Sayeed, Prime Minister Narendra Modi said it left a huge void in the nation and that the leader who provided a healing touch would be missed.

"What stood out about Mufti Sahab was his statesmanship. In his long political journey he won many admirers across the political spectrum," Modi said.

Home Minister Rajnath Singh will be flying to Srinagar to attend Sayeed's funeral.

Congress President Sonia Gandhi also expressed grief over the demise of Mufti as she communicated her condolences to his wife and Mehbooba.

"In his death, the state of Jammu and Kashmir as indeed the entire nation has lost a great leader," she said.

Former Jammu and Kashmir Chief Minister Omar Abdullah, who expressed his condolences to Sayeed's family at AIIMS, tweeted, "Just heard the terrible news of Mufti Sahib's passing away. I'm shocked and deeply saddened. May he rest in peace".

Former Union Minister Farooq Abdullah also condoled the death of Sayeed.

In a political career spanning nearly six decades, Sayeed carved a niche for himself in national and Jammu and Kashmir politics with the craftiness and unwavering focus of an avid bridge player he was.

He emerged as a rival power centre to the mighty Abdullahs, always playing his cards close to the chest, while making friends with parties following conflicting ideologies to suit his political agenda.

The high-points in the political journey of Sayeed, who would have turned 80 on January 12, was his being catapulted to the chair of free India's first Muslim Home Minister in 1989 in the V P Singh government and, years later, becoming the Chief Minister of the restive state for a second time in 2015, heading a coalition with BJP, which had its first brush with power in the only Muslim-majority state.

Sayeed's stint in the Home Ministry, at a time when militancy had begun to rear its ugly head in his home state, would, however, be most remembered for the kidnapping of his third daughter Rubaiya by JKLF. The militants demanded freeing five of their comrades in exchange for Rubaiya's freedom and let her off only after their demand had been met.

The kidnapping and subsequent release of the militants, according to Sayeed's rivals, projected India as a "soft state" for the first time.

Born in Baba Mohalla of Bijbehara in Anantnag district on January 12, 1936, Sayeed had his early education at a local school and graduated from S P College, Srinagar. He went on to obtain a law degree and Master's degree in Arab History from Aligarh Muslim University.

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News Network
April 23,2020

Apr 23: Mukesh Ambani is again Asia's richest person after a deal with Mark Zuckerberg's Facebook Inc. sent his conglomerate's stock surging.

Ambani's fortune rose about $4.7 billion to $49.2 billion on Wednesday, after Reliance Industries Ltd. gained 10%. The jump put Ambani about $3.2 billion ahead of China's Jack Ma, according to the Bloomberg Billionaires Index. The ranking updates after the close of each trading day in the U.S.

Facebook Inc. will invest $5.7 billion in the U.S. social-networking giant's biggest deal since the 2014 purchase of WhatsApp as it seeks a broader foothold in its biggest global market. The U.S. company will buy about 10% of Jio Platforms, which brings together digital apps and a wireless platform under one umbrella, the Mumbai-based company said in a statement Wednesday.

Before Wednesday, Ambani -- who owns the world's largest oil refinery -- had declined by $14 billion on the index in 2020, the biggest dollar fall of anyone in Asia. Alibaba Group Holding Ltd.'s Ma, whose foundation this week donated 100 million masks to the World Health Organization to fight the Covid-19 pandemic, had lost almost $1 billion through Tuesday.

"At the core of our partnership is the commitment that Mark Zuckerberg, founder of Facebook, and I share for the all-around digital transformation of India," Ambani said in a web video posted on Jio's Facebook page, adding that Facebook's brands have become household names in India. "WhatsApp in particular, has entered our people's daily vocabulary in all the 23 official languages of India."

The partnership with Jio would allow Zuckerberg to step up his expansion in a country that is rapidly embracing online payment and e-commerce as more people get smartphones. Jio Infocomm quickly moved into a position of dominance by offering free plans and undercutting wireless market rivals.

With its half-billion internet users, the South Asian country is a key market for the world's largest technology companies, including Amazon.com Inc., Apple Inc., Microsoft Corp. and Alphabet Inc.'s Google. In India, Facebook has about 250 million users, while WhatsApp has more than 400 million.

That should help Jio bolster its reach, according to James Crabtree, author of 'The Billionaire Raj,' a book on the country's wealthiest people. But the transaction also shows the extent of Ambani's own influence, he said.

"This deal clearly shows that if you want to play big in Indian tech, you need to play nice with Mukesh Ambani."

Ambani's fortune rose about $4.7 billion to $49.2 billion on Wednesday, after Reliance Industries Ltd. gained 10%. The jump put Ambani about $3.2 billion ahead of China's Jack Ma, according to the Bloomberg Billionaires Index. The ranking updates after the close of each trading day in the U.S.

Facebook Inc. will invest $5.7 billion in the U.S. social-networking giant's biggest deal since the 2014 purchase of WhatsApp as it seeks a broader foothold in its biggest global market. The U.S. company will buy about 10% of Jio Platforms, which brings together digital apps and a wireless platform under one umbrella, the Mumbai-based company said in a statement Wednesday.

Before Wednesday, Ambani -- who owns the world's largest oil refinery -- had declined by $14 billion on the index in 2020, the biggest dollar fall of anyone in Asia. Alibaba Group Holding Ltd.'s Ma, whose foundation this week donated 100 million masks to the World Health Organization to fight the Covid-19 pandemic, had lost almost $1 billion through Tuesday.

"At the core of our partnership is the commitment that Mark Zuckerberg, founder of Facebook, and I share for the all-around digital transformation of India," Ambani said in a web video posted on Jio's Facebook page, adding that Facebook's brands have become household names in India. "WhatsApp in particular, has entered our people's daily vocabulary in all the 23 official languages of India."

The partnership with Jio would allow Zuckerberg to step up his expansion in a country that is rapidly embracing online payment and e-commerce as more people get smartphones. Jio Infocomm quickly moved into a position of dominance by offering free plans and undercutting wireless market rivals.

With its half-billion internet users, the South Asian country is a key market for the world's largest technology companies, including Amazon.com Inc., Apple Inc., Microsoft Corp. and Alphabet Inc.'s Google. In India, Facebook has about 250 million users, while WhatsApp has more than 400 million.

That should help Jio bolster its reach, according to James Crabtree, author of 'The Billionaire Raj,' a book on the country's wealthiest people. But the transaction also shows the extent of Ambani's own influence, he said.

"This deal clearly shows that if you want to play big in Indian tech, you need to play nice with Mukesh Ambani."

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News Network
February 28,2020

Feb 28: The best economic tonic for the coronavirus shock is to contain its spread and worry about stimulus later, said Raghuram Rajan, former head of the Reserve Bank of India.

There’s little central banks can do, and while more government spending would help, the priority should be on convincing companies and households that the virus is under control, he said.

“People want to have a sense that there is a limit to the spread of this virus perhaps because of containment measures or because there is hope that some kind of viral solution can be found,” Rajan told Bloomberg Television’s Haidi Stroud Watts and Shery Ahn.

“At this point I would say the best thing that governments can do is to really fight the epidemic rather than worry about stimulus measures that comes later,” said Rajan, who is currently a professor at the Chicago Booth School of Business.

The spread of coronavirus is pushing the world economy toward its worst performance since the financial crisis more than a decade ago.

Bank of America Corp. economists warned clients Thursday that they now expect 2.8% global growth this year, the weakest since 2009.

“We have moved from extreme confidence in markets to extreme panic, all in the space of one week,” said Rajan, who previously was chief economist at the International Monetary Fund.

The virus outbreak will force companies to rethink supply chains and overseas production facilities, he said.

“I think we will see a lot of rethinking on this, coming on the back of the trade disruption, now we have this,” Rajan said. “Globalization in production is going to be hit quite badly.”

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News Network
May 15,2020

New Delhi, May 15: With an increase of 3,967 COVID-19 cases in the last 24 hours, India's tally of coronavirus cases reached 81,970 cases, according to the Union Ministry of Health and Family Welfare on Friday.

According to the latest figures, 51,401 patients are active coronavirus cases while 27,919 patients have been cured/discharged and one patient has been migrated.

With a rise in 100 deaths due to COVID-19 in the last 24 hours, the number of deaths now stands at 2,649.

According to the Health Ministry, Maharashtra is the worst-hit state with regard to the number of COVID-19 cases with 27,524 cases of which, 6,059 patients have been cured/discharged and 1,019 succumbing to the virus.

Tamil Nadu has a tally of 9,674 cases inclusive of 2,240 patients cured/discharged and 66 fatalities.

Gujarat has a total of 9,591 cases which include 3,753 patients cured/discharged while 586 have lost their lives due to coronavirus.

Delhi has a tally of 8,470 cases of which 3,045 patients cured/discharged and 115 fatalities.

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