Over 100 Indian CEOs to attend World Economic Forum

Agencies
January 20, 2019

Davos, Jan 20: The rich and powerful from across the globe will flock to this ski resort town on the Swiss Alps for five days beginning Monday to discuss what's ailing the world amid fears of the global economy sleepwalking into a crisis, with more than 100 CEOs from India expected to be in attendance.

While ongoing political and economic issues in their respective countries have already led to several top leaders, including the US President Donald Trump, Britain's Theresa May, France's Emmanuel Macron and Russia's Vladimir Putin, deciding to stay away from this annual jamboree, many participants believe their absence has further underlined the need for an immediate brain-storming over the imminent risks faced by the world.

Those expected to attend include German Chancellor Angela Merkel, Swiss President Ueli Maurer, Japan's Shinzo Abe, Italy's Giuseppe Conte and Israel's Benjamin Netanyahu among more than 30 heads of state/government, as also CEOs of global corporations, central bankers, economists, civil society leaders, media heads, celebrities and heads of international organisations like IMF, WTO, OECD and World Bank, among more than 3,000 participants.

From India, Finance Minister Arun Jaitley as also his cabinet colleague Dharmendra Pradhan have dropped out and so has Andhra Pradesh Chief Minister N Chandrababu Naidu and Maharashtra Chief Minister Devendra Fadnavis.

The political leaders from India attending the event include Madhya Pradesh Chief Minister Kamal Nath, Union Commerce and Industry Minister Suresh Prabhu, Andhra Pradesh minister Lokesh Nara and Punjab minister Manpreet Badal.

There are a number of Indian corporate honchos among the registered participants, including Gautam Adani, Mukesh Ambani (with wife Nita and children Akash and Isha), Sanjiv Bajaj, N Chandrasekaran, Sajjan Jindal, Anand Mahindra, Sunil Mittal, Nandan Nilekani, Salil Parekh, Azim Premji and son Rishad, Ravi Ruia and Ajay Singh.

Celebrity film producer and director Karan Johar, as also former RBI Governor Raghuram Rajan, New Development Bank President K V Kamath and IMF Chief Economist Gita Gopinath are also expected to be there.

Microsoft's Indian-origin CEO Satya Nadella will be among the co-chairs of the 2019 edition of this annual congregation of world leaders from January 21-25.

He would be joined by six young leaders under the age of 30 as co-chairs -- Basima Abdulrahman from Iraq, Juan David Aristizabal from Colombia, Sweden's Noura Berrouba, Julia Luscombe from the US, Mohammed Hassan Mohamud from Kenya and Japan's Akira Sakano.

The theme of the event would be 'Globalization 4.0: Shaping a Global Architecture in the Age of the Fourth Industrial Revolution', which would have several India-focussed sessions. Besides, India's political scenario may hog the limelight, with the event taking place ahead of the national elections.

According to Geneva-based WEF, which describes itself as a public-private partnership for international cooperation, the leaders at this annual summit would discuss how globalisation can work as well as identify new models for peace, inclusiveness and sustainability, while the top agenda would also include climate change and international governance.

Some of the key issues likely to be deliberated upon include top global risks identified by the WEF in its annual pre-Davos survey, including rising geopolitical and geoeconomic tensions.

The WEF has warned that worsening international relations are hindering a collective will to tackle these concerns. The report also flagged massive incidents of data fraud and large-scale cyber attacks among the biggest risks in terms of likelihood, while it also listed increasing polarisation of societies and growing wealth disparity among the key concerns.

The report, based on a survey of nearly 1,000 experts and decision-makers from across the world, said that nine out of ten respondents expect the economy to worsen due to rising geopolitical tensions.

"This fourth wave of globalisation needs to be human-centred, inclusive and sustainable. We are entering a period of profound global instability brought on by the technological disruption of the Fourth Industrial Revolution and the realignment of geo-economics and geopolitical forces," WEF's Founder and Executive Chairman Klaus Schwab said.

"We need principals from all stakeholder groups in Davos to summon the imagination and commitment necessary to tackle it," he added.

There would be more than 350 official sessions during the five-day event and the meeting will host over 900 civil society and 1,700 business leaders.

The event would also be attended by CEOs of a large number of MNCs, including Adidas, Rio Tinto, Embraer, AXA, Societe Generale, Total, Allianz, Bayer, Deutsche Bank, Lufthansa, KPMG, Siemens, Generali, Hitachi, Nomura, Sumitomo, IKEA, Royal Dutch Shell, Telenor, Alibaba, Credit Suisse, Nestle, Novartis, UBS, Barclays, BP, Standard Chartered, Unilever, Bank of America, Cargill, Citi, Cisco, Dell, IBM, Morgan Stanley, PepsiCo, Pfizer, Coca-Cola and Visa.

Besides the official sessions, industry body CII and several other Indian groups have also lined up their own meetings on the sidelines.

At a session on emerging markets outlook, discussions would be about whether policymakers are equipped to avert a hard economic landing with highly-leveraged emerging market economies feeling the pinch from growing protectionism and tightening monetary conditions in the US.

Another session would focus on 'India and the World', which would cover the country's emergence as a compelling growth story and the questions being raised about its long-term sustainability due to a falling rupee, volatile external financial markets, worsening current account deficit and stress in the banking sector.

One official session would discuss India's consumer markets and how its lessons can be applied to other fast-growth economies.

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News Network
May 27,2020

Washington, May 27: Most viruses and other germs do not spread easily on flights, the US Center for Disease Control and Prevention has said in its COVID-19 guidelines which do not recommend following social distancing between two passengers inside a plane or keeping the middle seat unoccupied.

As a result of coronavirus pandemic, air traffic inside the US has come to a near halt. Air traffic is said to be down to about 90 per cent. For all travellers coming from overseas, the Center for Disease Control and Prevention (CDC) has recommended 14 days quarantine.

"Most viruses and other germs do not spread easily on flights because of how air circulates and is filtered on aeroplanes," the CDC has said in its set of COVID-19 guidelines for air travellers.

However, it noted that the air travellers were not risk-free especially in the time of the coronavirus pandemic and recommended Americans to avoid travel as far as possible.

"Air travel requires spending time in security lines and airport terminals, which can bring you in close contact with other people and frequently touched surfaces," it said.

"Social distancing is difficult on crowded flights, and you may have to sit near others (within six feet), sometimes for hours. This may increase your risk for exposure to the virus that causes COVID-19," the CDC said.

But instead of recommended social distancing inside commercial planes, the CDC has advised a series of preventive and hygienic measures to be taken by the airlines pilot and crew to prevent the spread of coronavirus.

The US Department of Transportation and Federal Aviation Administration in its latest safety alerts for operators on May 11 said that air carriers and crews conducting flight operations having a nexus to the US, including both domestic and foreign air carriers, should follow CDC's occupational health and safety guidance.

The CDC issued its guidelines in first guidelines for the airlines and airline crew on March and again in May.

The CDC, which has issued an exhaustive social guideline measures in various sections, is silent on keeping the middle seat of a plane unoccupied so as to maintain the six feet distance between two passengers.

It calls for the plane crew to report to the CDC a traveller with specific COVID-19 symptoms like fever, persistent cough, difficulty in breathing and appearing unwell.

Asking the airlines and cabin crew to review infection control guidelines for cabin crew, the CDC recommends several measures for cabin crew to protect themselves and others, manage a sick traveller, clean contaminated areas, and take actions after a flight.

Prominent among them include washing hands often with soap and water for at least 20 seconds, particularly after assisting sick travellers or touching potentially contaminated body fluids or surfaces and use of alcohol-based hand sanitizer (containing at least 60 per cent alcohol) if soap and water are not available.

Airlines should consider providing alcohol-based hand sanitizer to cabin and flight crews for their personal use, it said.

The CDC guidelines do not recommend following social distancing inside a plane between two passengers or keeping the middle seat unoccupied. But it asks to minimise contact between passengers and cabin crew and the sick person.

"If possible, separate the sick person from others (by a distance of 2 meters or 6 feet, ideally) and designate one crew member to serve the sick person. Offer a facemask, if available and if the sick person can tolerate it. If a facemask is not available or cannot be tolerated, ask the sick person to cover their mouth and nose with tissues when coughing or sneezing," said the CDC guidelines.

If no symptomatic passengers were identified during or immediately after the flight, the CDC recommends airlines to follow routine operating procedures for cleaning aircraft, managing solid waste, and wearing PPE.

"If symptomatic passengers are identified during or immediately after the flight, routine cleaning procedures should be followed, and enhanced cleaning procedures should also be used," it said.

Clean porous (soft) surfaces (e.g, cloth seats, cloth seat belts) at the seat of the symptomatic passengers and within 6 feet of the symptomatic passengers in all directions, it added.

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News Network
May 26,2020

Warangal, May 26: A 26-year-old man from Bihar was arrested here for murdering nine people by throwing them into a well to cover the murder of a woman, police said on Monday.

Dr Ravinder, Commissioner of Police (CP), Warangal, said that the bodies were recovered on May 21 and May 22 from the well. Investigation has revealed that the accused, Sanjay Kumar Yadav, killed all of them to cover up the murder of Rafiqa, with whom he had a relationship.

He said that Yadav got acquainted with a person named Maqsood and his sister-in-law Rafiqa. "Slowly, he came close to Rafiqa and started living together with her three children. Yadav tried to misbehave with Rafiqa's 15-year-old daughter. Rafiqa did not like this and threatened to lodge a complaint against him," Ravinder said.

"Then, Yadav planned to kill Rafiqa in order to live with her daughter. Yadav promised Rafiqa to marry. They boarded a train to West Bengal from March 7. Yadav mixed sleeping tablets in the food packet and later strangulated her, and threw her body outside the train," he said.

According to police, Yadav later came back to Warangal but Maqsood's wife Nisha started questioning him about the whereabouts of Rafiqa.

"Nisha threatened to lodge a police complaint against him. With a premeditated motive, from May 16 to May 20, he visited Maqsood's family who stayed in a gunny bag factory," he said.

Yadav purchased sleeping pills from Warangal and mixed in the food on the birthday of Maqsood's elder son on May 20, police said.

"Maqsood and his five family members were living there. Yadav mixed sleeping pills in the food and later they consumed it. Maqsood's family friend Shakeel was also there. Then, he went to the first floor of the factory where two labourers were staying. He mixed sleeping pills in their food too. He suspected that they may get up and create a problem. To cover up the murder of Rafiqa, he killed nine people," Ravinder said.

At around 12:30 am, Yadav woke up and saw that everyone is asleep, according to police.

"Then, he used the gunny bags to drag all the nine people into the well. He threw the gunny bag one by one into the well," Ravinder said.

According to the police, six teams were deployed to investigate the case.

"Yadav has been arrested now and will be taken to police custody. We will collect all evidence and ensure that he gets maximum punishment for this offence," Ravinder said.

 

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abdullah
 - 
Thursday, 4 Jun 2020

Yadav will be released by court saying that he is mentally sick and he did not kill 10 people intentionally.  

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News Network
June 25,2020

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.

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