SC’s Ayodhya verdict proved that we can have a better tomorrow: PM Modi

News Network
December 6, 2019

New Delhi, Dec 6: Indian citizenship to those facing persecution in their home countries will ensure that they get a better tomorrow, Prime Minister Narendra Modi said on Friday, in his first remarks on the issue after the Citizenship (Amendment) Bill was cleared by the Union cabinet recently.

Speaking at the Hindustan Times Leadership Summit, Modi also said although a lot of apprehensions were expressed ahead of the Supreme Court's Ayodhya verdict, after it was pronounced, people of the country proved all such apprehensions wrong.

"The Ram Janmabhoomi verdict proved that we can have a better tomorrow. We cannot be chained by the past. People were casting aspersions that the verdict will cause unrest in the country, but the people of the country proved them wrong," he said.

The Citizenship (Amendment) Bill, which seeks to grant citizenship to non-Muslims facing religious persecution in Pakistan, Bangladesh and Afghanistan, was cleared by the Union cabinet on Wednesday and is likely to be introduced in Parliament next week.

"Hundreds of people from the neighbouring countries, who are facing persecution in these countries, those who have faith in Mother India, with the road open for Indian citizenship, their better future will be ensured," Modi said, without naming the proposed law.

Referring to the abrogation of Article 370 of the Constitution, the prime minister said the decision might seem a politically difficult one, but it had raised a new hope of development for the people of Jammu and Kashmir and Ladakh. He also said he was against government's interference in people's lives and advocated for minimum government and maximum governance.

"The government must exit people's lives as soon as possible. For a better tomorrow, the government needs to work in the core areas. Good governance will provide a better future to the people of the country," the prime minister said. He said his government was working towards connecting 15 crore houses to clean water.

"Today, India, with full confidence, is working towards turning itself into a USD 5 trillion economy. It is directly linked with the income of the middle class and a better tomorrow," Modi said. Assuring bankers that they would be allowed to work without any fear, he said their "genuine" business decisions will not be questioned.

"Earlier, when banks were nationalised, it was celebrated with fanfare, newspapers wrote articles about it. Our government showed the courage to merge banks and helped in recapitalisation. Before any action is taken, a scrutiny by a serving finance or banking expert will be conducted. A guideline in this regard will be issued shortly. There is pressure on the banking sector and we will work to improve it," Modi said. Criticising the previous governments for making promises without any actual work on paper, the prime minister said his government was focussed on performance.

"Unlike the previous governments, we are not practising the politics of promises. Instead, we are taking the country towards the politics of performance. We have set goals for ourselves and promoted this culture of performance," he said.

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News Network
March 16,2020

New Delhi, Mar 16: A total of 110 cases of coronavirus, including 17 foreign nationals have been confirmed across India, Union Ministry of Health and Family Welfare said on Sunday.

The maximum positive cases have been reported from Maharashtra (32), followed by Kerala (22).

The total number of passengers screened at airports is 12,76,046, the ministry said.

The World Health Organisation (WHO) has declared that Europe has become the new 'epicentre' of the coronavirus pandemic that has infected more than 15 lakh people with over 6,000 deaths globally.

The virus had first emerged in China's Wuhan city in December last year.

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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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News Network
May 28,2020

New Delhi, May 28: With 6,566 more coronavirus cases and 194 deaths reported in the past 24 hours, India's COVID-19 tally reached 1,58,333 on Thursday, according to the Union Ministry of Health and Family Affairs.

The number of active coronavirus cases stands at 86,110, while 67,692 people have recovered and one patient has migrated, it said. The death toll due to the infection has reached 4,531 in the country.

Maharashtra is the worst affected state with 56,948 cases. Tamil Nadu has recorded as many as 18,545 cases while Gujarat and Delhi have recorded 15,195 and 15,257 coronavirus cases respectively.

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