Modi govt’s minister Giriraj Singh booked in land grabbing case

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.

Wayanad, Jan 30: Congress leader Rahul Gandhi on Thursday compared Mahatma Gandhi assassin Nathuram Godse with Prime Minister Narendra Modi, saying both believed in the same ideology.

Gandhi, at an anti-CAA rally here, launched a scathing attack on Modi and said he was making Indians to prove that they are Indians.

Addressing participants at "Save the Constitution" march at Kalpetta in Wayanad, his Lok Sabha constituency on Martyr's Day, Gandhi said there was no difference between Godse and Modi.

"Today, an ignorant man is trying to challenge Gandhi's ideology. He is creating an atmosphere of hatred. The ideology is same. Nathuram Godse and Narendra Modi, they believe in the same ideology. There is no difference except that Modi does not have the guts to say he believes in the ideology of Godse," the Wayanad MP said.

Attacking the Prime Minister on the new Citizenship Law, Gandhi questioned Modi and asked who was he to ask Indians to prove that they were Indians.

"Indians are being made to prove that they are Indians. Who is Narendra Modi to decide who is an Indian. Who gave Modi the licence to ask for my Indianness? I know I am an Indian and I don't have to prove it to anyone. Likewise, 1.4 billion Indians do not have to prove that they are Indians," he said.

The Congress leader led the march here as part of efforts to intensify the party's protests against CAA in the state.

New Delhi, Jun 19: RJD and AAP were not invited to the all-party meeting called by Prime Minister Narendra Modi on Friday to discuss the situation at the India-China border after 20 Indian soldiers were killed in a "violent face-off," leaving the parties fuming.

Top RJD leader Tejashwi Yadav criticised the government for not inviting the party to the meeting, asking on Twitter late Thursday night, "Just wish to know the criteria for inviting political parties for tomorrow's (Friday's) all-party meet on Galwan Valley. I mean the grounds of inclusion/exclusion. Because our party hasn't received any message so far."

AAP's Rajya Sabha leader Sanjay Singh joined the chorus, "there is a strange ego-driven government at the centre. AAP has a government in Delhi and is the main opposition in Punjab. We have four MPs. But on a vital subject, AAP's views are not needed? The country is waiting for what the Prime Minister will say at the meeting."

Sources said the government has set a criteria to invite only parties with five or more MPs in Parliament for the digital meet, where the Prime Minister will brief the top leaders of parties and hear their views on the way ahead. There are at least 27 parties in the Parliament, which have less than five members, while 17 have more than five members or more than five MPs.

Interestingly, RJD has five MPs in Rajya Sabha and its senior MP Manoj K Jha shared the Rajya Sabha website link on Twitter, which showed the party has five MPs. "We have not been invited and the government's bogus argument has been exposed," Jha said.

CPI leaders said General Secretary D Raja received a call from Defence Minister Rajnath Singh inviting him to the meeting and with a message that the Prime Minister's Office would coordinate but there was no follow-up after that.

"Exclusion of AAP and RJD in the all-party meet on a National debate does not augment well. AAP is ruling Delhi and has its CM. Why should people of Delhi be kept out in such an important debate on National integrity and Sovereignty?" former NCP MP Majeed Memon tweeted.

During the all-party meeting on COVID-19 too, the government had not called all parties with representation in Parliament to the all-party meeting in April and had set five MPs as a benchmark to be invited.

Raja had then written a letter to Modi demanding that the government should not get into "technicalities" and discuss the issue with all parties in Parliament.