Trudeau announces 1.1 bn Canadian dollars package for vaccine research, clinical trials, expanded testing

Washington, Jul 7: US Secretary of State Mike Pompeo on Monday (local time) confirmed that the White House is "looking at" banning the Chinese social media apps including TikTok.

"With respect to Chinese apps on people's cell phones, I can assure you the United States will get this one right too. I don't want to get out in front of the President [Donald Trump], but it's something we're looking at," Pompeo was quoted by CNN during an interview with Fox News.

He said people should only download the app, "if you want your private information in the hands of the Chinese Communist Party."

Responding to his comments, a TikTok spokesperson said, "TikTok is led by an American CEO, with hundreds of employees and key leaders across safety, security, product and public policy here in the US."

"We have no higher priority than promoting a safe and secure app experience for our users.  We have never provided user data to the Chinese government, nor would we do so if asked," the spokesperson added.

The US politicians have repeatedly criticised TikTok, owned by Beijing-based startup ByteDance, of being a threat to national security because of its ties to China.

Recently, India banned 59 Chinese apps including TikTok following a violent standoff with Chinese troops. This move was lauded by the US officials.

Beijing, May 18: China has reported 25 new COVID-19 patients, the health authorities said on Monday, as 14 asymptomatic cases were detected in Wuhan, the first epicentre of the coronavirus where officials are doing mass testing of the city's entire 11 million population, taking the number of such cases in the city to 337, the highest in the country.

The death toll in China remained at 4,634 on Sunday with no new fatalities reported.

China's National Health Commission (NHC) reported seven new confirmed cases of COVID-19 and 18 asymptomatic cases on Sunday.

Jilin province where the government has implemented strict control measures in the last few days following reports of clusters of cases in Jilin city reported two cases on Sunday, while Shanghai city has reported one.

As of Sunday, the overall confirmed cases in China had reached 82,954, including 82 patients who are still being treated, and 78,238 people who have been discharged after recovery.

Also on Sunday, 18 new asymptomatic cases including two from abroad were reported in China, taking the total number under medical observation to 448, the NHC said.

Asymptomatic cases pose a problem as the patients are tested COVID-19 positive but develop no symptoms such as fever, cough or sore throat. However, they pose a risk of spreading the disease to others.

Wuhan which is undergoing mass testing of the city's entire over 11 million population to determine the prevalence of the virus has reported no new confirmed cases, but 14 new asymptomatic infections, taking the number of such cases in the city to 337, the highest in the country, according to the figures released by the local health commission on Sunday.

The death toll in Hubei province stood at 4,512, including 3,869 in Wuhan.

The province so far has reported 68,134 confirmed COVID-19 cases in total, including 50,339 in Wuhan, according to the officials figures.

As the cases dropped, China on Sunday exempted people in Beijing from wearing masks, signalling that the virus is under control in the national capital.

As the virus is abating in the country, China is opening up all its business including entertainment centres like Shanghai Disneyl and to show that it has managed to control the dreaded virus while the world is struggling with it with lockdowns and massive casualties.

The novel coronavirus which originated in Wuhan in December last year has claimed 315,185 lives and infected over 4.7 million people globally, according to Johns Hopkins University data.

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.