I will neither resign, nor go on leave: Nawaz Sharif

Beijing, Jun 17: Beijing's airports cancelled more than 1,200 flights and schools in the Chinese capital were closed again on Wednesday as authorities rushed to contain a new coronavirus outbreak linked to a wholesale food market.

The city reported 31 new cases on Wednesday while officials urged residents not to leave Beijing, with fears growing about a second wave of infections in China, which had largely brought its outbreak under control.

Tens of thousands of people linked to the new Beijing virus cluster -- believed to have started in the sprawling Xinfadi wholesale food market -- are being tested, with almost 30 residential compounds in the city now under lockdown.

At least 1,255 scheduled flights were cancelled Wednesday morning, state-run People's Daily reported, nearly 70 percent of all trips to and from Beijing's main airports.

The outbreak had already forced authorities to announce a travel ban for residents of "medium- or high-risk" areas of the city, while requiring other residents to take nucleic acid tests in order to leave Beijing.

Meanwhile, several provinces were quarantining travellers from Beijing, where all schools -- which had mostly reopened -- have been ordered to close again and return to online classes.

"The epidemic situation in the capital is extremely severe," Beijing city spokesman Xu Hejian warned Tuesday.

Mass testing under way

Officials have closed 11 markets and disinfected thousands of food and beverage businesses in Beijing after the outbreak was detected.

The city has now reported 137 infections over the last six days, with six new asymptomatic cases and three suspected cases on Wednesday, according to the municipal health commission.

An additional two domestic cases, one in neighbouring Hebei province and another in Zhejiang, were reported by national authorities on Wednesday, while there were 11 imported cases.

Authorities have so far banned group sports, ordered people to wear masks in crowded enclosed spaces, and suspended inter-provincial group tours in response to the outbreak.

Officials said that since May 30, more than 200,000 people had visited Xinfadi market, which supplies more than 70 percent of Beijing's fruit and vegetables.

More than 8,000 workers there were tested and quarantined.

Until the new outbreak, most of China's recent cases were nationals returning from abroad as COVID-19 spread globally, and the government had all but declared victory against the disease.

China's Center for Disease Control and Prevention said Monday that the virus type found in the Beijing outbreak was a "major epidemic strain" in Europe.

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.

Paris, Apr 24: The worldwide death toll from the coronavirus pandemic crossed 190,000 on Friday, with nearly two-thirds of the fatalities in Europe, according to an AFP tally compiled from official sources at 0740 GMT.

A total of 190,089 people have died and 2,698,733 been infected since the virus emerged in China in December. The hardest hit continent is Europe, with 116,221 deaths and 1,296,248 cases.

The country with the most deaths is the United States with 49,963, followed by Italy with 25,549, Spain with 22,157, France with 21,856 and Britain 18,738.