Mukesh Ambani Tops Jack Ma As Asia's Richest After Facebook Deal

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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Agencies
February 23,2020

Rajghat, Feb 23: The maternal uncle of Dr Kafeel Khan, who was recently arrested for allegedly making inflammatory statements during anti-CAA protests, was shot dead in front of his house at Bankatichak in Rajghat area, police said on Sunday.

Dr Nusratullah Warsi aka Dada (55), a property dealer, was shot dead on Saturday night at about 10:45 pm and an FIR against two people was filed in this connection on a written complaint of his family members.

According to police, it appears to be a case of murder due to monetary and property dispute and they are searching for both the accused.

Dr Kafeel Khan, suspended doctor of Gorakhpur BRD Medical College, was last month arrested under charges of giving a provocative speech during a protest against the CAA and NRC at Aligarh Muslim University and was later charged with the National Security Act.

Warsi on Saturday evening had gone to his lawyer Siraj Tariq's house, a few metres away from his own house, and was returning home on foot when a man shot him in his head, killing him on the spot.

"On the written complaint of family members, case of murder against one Imammuddin and Anil Sonkar has been registered and police has initiated probe and is searching for both the accused. Police met the women in their house and is interrogating them," Circle Officer VP Singh said.

Prima facie it appears to be a case of property and money dispute, he said, adding, three teams have been constituted to investigate the case and soon the accused will be caught.

Dr Kafeel Khan had last month raised apprehension in a Mumbai court about being killed in an "encounter" by the Uttar Pradesh police after claiming that he had been "falsely" implicated in the case by them.

The paediatrician had come to the limelight in 2017 when a controversy broke out after the death of over 60 children in less than a week at the BRD Medical College in Gorakhpur in Uttar Pradesh, where he was posted.

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News Network
February 26,2020

Mumbai, Feb 26: Observing that the violence in Delhi is akin to a "horror film" depicting the grim reality of the 1984 anti-Sikh riots, the Shiv Sena on Wednesday said the "bloodbath" has brought disrepute to the national capital like never before while US President Donald Trump was in India with the "message of love".

The editorial in party mouthpiece 'Saamana' lamented that Trump was welcomed in Delhi while there was bloodbath on the streets.

It further said that the violence could potentially spread the message that the Central government has failed to maintain the law and order situation in Delhi.

"Violence has erupted in Delhi. People are on the streets equipped with canes, swords, revolvers, blood is being spilled on the roads. Some horror film-like situation is being witnessed in Delhi, which depicts the grim reality of the 1984 riots," the Sena said.

It further said the BJP was still blaming the Congress for the deaths of hundreds of Sikhs in the violence that was erupted after assassination of then Prime Minister Indira Gandhi.

It needs to be unravelled who is responsible for the current riots in Delhi, the Sena said while referring to the "language of threats and warning used by some BJP leaders".

"The national capital was burning at a time when Prime Minister Narendra Modi and visiting US President Trump were holding talks.

"It does not augur well that Trump was welcomed in Delhi with the horror film of violence, bloodbath on the streets, screams of people, and tear gases. Trump saheb came to Delhi with a message of love, but what unfolded before him? 'Namaste' in Ahmedabad and violence in Delhi. Never before Delhi was defamed like this," the editorial said.

Trump had begun his February 24-25 India visit from Ahmedabad in Gujarat.

Seventeen people have died so far and over hundred were injured in the violence that has gripped several parts of north east Delhi over the Citizenship Amendment Act (CAA) since Sunday.

Attacking the Central government over reports that the violence was timed with Trump's visit, Sena said, "the Union Home Ministry has alleged that a conspiracy was hatched to defame India internationally by triggering the violence during Trump's visit to the national capital.

"The Home Ministry not knowing about the conspiracy behind the violence over the CAA is detrimental to national security. There is no problem in controlling the riots with the same courage with which Article 370 and 35A were scrapped," the editorial said.

It further said the anti-CAA protest at Shaheen Bagh in Delhi was yet to be called off yet despite the Supreme Court appointing mediators.

"It is being said that the violence sparked off after some BJP leaders talked the language of threats and warning. So, did someone want the peaceful agitation (at Shaheen Bagh) to acquire the present form of riots? (They) could have waited for at least Trump to leave the country," the Sena said.

The Uddhav Thackeray-led party also questioned the timing of the riots, which are occurring days after the results of the Delhi assembly polls.

"It is mysterious that the violence broke out days after the BJP lost the Delhi assembly elections. The BJP lost and now this is the condition of Delhi," the Sena said.

The Uddhav Thackeray-led party, a former ally of the BJP, now shares power in Maharashtra with the NCP and the Congress.

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Agencies
August 4,2020

Ayodhya, Aug 4: Ramarchan puja begins at Ram Janmabhoomi site ahead of the foundation laying ceremony of Ram Temple in Ayodhya.
Ramarchan Puja is a prayer to invite all major gods and goddesses ahead of Lord Ram's arrival.

Mahesh Bhagchandka, one of the trustees of Ashok Singhal foundation as Yajman in the puja said, "This is being conducted at the temporary seat of Ramlalla. The pooja will be conducted in four phases."

Speaking about the third and fourth phases, he said: "In the third phase, Dashrath, father of Lord Ram with his wives will be worshipped and then all three brothers of Lord Ram - Laxman, Bharat and Shatrughan with their wives. Lord Hanuman ji will too be worshipped. Whereas in the fourth phase, Lord Ram will be worshipped."
Meanwhile, security has been heightened in Ayodhya ahead of the foundation laying ceremony.

Temples across the city is decorated with lights, diyas and flowers ahead of the grand event. Patna's Mahavir Mandir Trust is preparing over 1.25 lakh 'Raghupati Laddoos' for the occasion. Thes laddoos will be distributed as 'prasad' to devotees.

Uttar Pradesh Chief Minister Yogi Adityanath on Monday offered prayers at the Hanuman Garhi temple during his visit to Ayodhya to take stock of the preparations for the 'bhoomi pujan'.
He along with officials also visited 'Ram ki Paudi' to inspect the arrangements ahead of the foundation stone laying ceremony.

Prime Minister Narendra Modi is scheduled to lay the foundation stone of the Ram Temple in Ayodhya on August 5. 

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