VHP leader justifies murder of innocent Muslim; urges Hindus to support killers

Belgaum, Mar 30: As many as 2442 labourers hailing from Karnataka have been brought back in 62 buses by the State government from Maharashtra on Sunday, in the backdrop of nation-wide lockdown following COVID-19 outbreak.

Maharashtra Chief Minister Uddhav Thackeray on Saturday urged migrant labourers not to leave the State owing to the nationwide lockdown and assured that the Maharashtra government will look after their interests.

Hundreds of migrants, a majority of whom are daily wage workers started rushing to their native places from different states amid uncertainty over their livelihood following the announcement of a 21-day nationwide lockdown by Prime Minister Narendra Modi last week in order to contain the spread of novel coronavirus.

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.

Jaipur, July 13: Amid a deepening political crisis in Rajasthan where the number 2 leader of the Congress party Sachin Pilot has revolted, over 200 Income Tax (I-T) sleuths raided the residences and properties of two of Chief Minister Ashok Gehlot’s close confidants.

The Income Tax department has carried out searches at over a dozen locations linked to Congress leader Dharamender Rathore as well as jewellery firm owner Rajiv Arora, both of whom are considered close to Gehlot.

Officials said that the raids that are underway in Jaipur, Kota, Delhi, and Mumbai were done after a complaint of tax evasion was made. Under the scanner, they said, are transactions that were made outside the country.

The curious timing of the Income Tax department’s action against Gehlot’s aides has made the Congress accuse the sleuths of acting on the behest of the BJP.

Congress spokesperson Randeep Singh Surjewala tweeted: “After all, BJP's lawyers came on the field. The Income Tax Department started raids in Jaipur. When will ED arrive?”

The Congress is facing a cliffhanger in Rajasthan after the open rebellion by deputy chief minister Sachin Pilot, who on Sunday night claimed that he had the support of 30 MLAs and that Gehlot was leading a minority government in the state.

However, Congress leader Avinash Pande on Monday said 109 MLAs have signed a letter of support to the chief minister, well above the majority mark of 100. The party has issued a whip to all the MLAs, asking them to attend the Congress Legislature Party meeting at 10.30 am.