China's bottled water king Zhong Shanshan dethrones Mukesh Ambani as Asia's richest

News Network
December 31, 2020

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Dec 31: Zhong Shanshan is a private billionaire who’s rarely quoted in the press.

Now, after an improbable career spanning journalism, mushroom farming and health care, he’s become Asia’s richest person, eclipsing India’s Mukesh Ambani and a group of Chinese tech titans including Jack Ma.

Zhong’s net worth has surged $70.9 billion this year to $77.8 billion, making him the 11th-richest person on the planet, according to the Bloomberg Billionaires Index. It’s one of the fastest accumulations of wealth in history, and all the more remarkable considering that until this year he was little known outside of China.

Zhong, 66, isn’t involved in politics and his business interests aren’t entwined with other rich families such as the property tycoons, which is why he’s known locally as the “Lone Wolf.”

He owes his success to two unrelated fields. He took vaccine maker Beijing Wantai Biological Pharmacy Enterprise Co. public in April, then months later Nongfu Spring Co., a maker of bottled water, became one of Hong Kong’s hottest listings. Nongfu shares have jumped 155% since their debut, and Wantai’s are up more than 2,000%.

Ambani has also had an extraordinary year -- striking deals to transform his conglomerate Reliance Industries Ltd. into a technology and e-commerce titan -- and seeing his fortune surge $18.3 billion to $76.9 billion.

While Ambani was at one point the world’s fourth-richest person, shares of his Reliance have stalled as he comes under pressure to deliver on the digital transformation he’s promised.

Meanwhile, Nongfu stock hit a peak this week after Citigroup Inc. analysts said the company has solidified its market dominance and enjoys ample cash flow. Zhong’s other firm, Wantai, is among those developing a Covid-19 vaccine.

Zhong has also climbed the ranks as China’s tech companies have tumbled among increased government scrutiny. Jack Ma, Asia’s richest person before Ambani took over this year, is now worth $51.2 billion, down from a high of $61.7 billion in October.

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News Network
September 19,2024

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Mangaluru, Sep 19: Following the recent Nipah virus-related fatalities in Kerala, health authorities in Dakshina Kannada are taking proactive measures to monitor for potential cases of monkey fever. While typically found in African countries, monkey fever has raised concerns within the district, prompting increased vigilance.

To ensure early detection, travelers arriving at Mangaluru’s international airport and local ports will undergo health screenings. Additionally, a dedicated ambulance has been placed on standby for any emergent cases, and Wenlock Hospital has set aside a special ward with six reserved beds specifically for monkey fever patients.

"We currently have no confirmed cases of monkey fever in Dakshina Kannada, and there are no direct orders from the state government," said Dr. Timmaiah, the District Health Officer. "However, we are taking preventive measures, including continuous screening of incoming passengers. A special meeting is also being planned to discuss future action steps."

Dr. Timmaiah further highlighted the rise in general viral infections following the region's recent shift in weather patterns. "With the decline in rainfall, we are seeing an uptick in viral cases, particularly fevers accompanied by cough, cold, and throat pain, especially in children. Though Mangaluru has experienced mostly sunny weather, occasional rain at night has contributed to the spread of illnesses. It’s crucial for the public to remain vigilant and take preventive measures."

Health officials are urging residents to seek timely medical advice and follow recommended precautions to mitigate the spread of infectious diseases.

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coastaldigest.com news network
September 7,2024

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Mangaluru: The bustling coastal city of Mangaluru is about to get a vibrant makeover with the introduction of food streets in three prime locations, courtesy of the Dakshina Kannada district administration, Mangaluru City Corporation (MCC), and Mangaluru Smart City Limited (MSCL). 

These food streets aim to infuse the city's social and cultural life with new energy, while providing residents and visitors a tantalizing array of culinary delights.

The first food street, soon to be unveiled, is set to light up the area near Mangala Stadium, where around 27 food stalls will offer a range of delicious treats. According to Mayor Sudheer Shetty Kannur, the project will be spearheaded by the MSCL, which has already identified two more locations for additional food streets across the city.

“Stalls will be set up on land belonging to the Department of Youth Empowerment and Sports, right next to Mangala Stadium,” shared the Mayor. Deputy Commissioner Mullai Muhilan MP has instructed MSCL to execute the project via a tender process. Following the completion of civil works, eligible bidders will be allotted food stalls. Other food streets will come up near Mahaveer Circle (Pumpwell) and at Sharbathkatte near Karnataka Polytechnic, bringing the city’s favorite street foods closer to even more neighborhoods.

Pradeep D’Souza, Deputy Director of Youth Empowerment and Sports, confirmed that work has already begun near Mangala Stadium. 

“The MSCL is making swift progress under the guidance of the Deputy Commissioner. The designated land lies between Karavali Utsav Maidan and Mangala Stadium, with permanent shops on one side and the food street to be developed on the other. The area will be equipped with essential amenities, including drinking water, electricity, and proper drainage. Cleanliness and organization will be prioritized, ensuring a welcoming atmosphere that can draw large crowds,” he said. The project is moving quickly, with completion expected in the near future.

Once completed, these food streets will not only enhance Mangaluru's charm but also provide a fresh destination for food lovers to gather, explore, and savour the diverse flavours of the city.

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News Network
September 10,2024

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The Israeli regime has attacked displaced Palestinians in the southern part of the Gaza Strip with US-provided 2,000-pound bombs, killing at least 40 civilians, mostly women and children.

As many as 60 others were injured in the attack that targeted an area previously declared by the Israeli military as a “humanitarian zone” at the al-Mawasi refugee camp in the city of Khan Younis on Tuesday.

The military alleged that it had struck members of the Hamas resistance movement, who were “operating a command and control center” inside the targeted area, a claim that was rejected by the group as a “blatant lie.”

“The resistance has repeatedly confirmed the absence of any of its members among civilian gatherings or the use of such areas for military purposes,” Hamas said.

The bloodletting took place as part of the regime’s ongoing genocidal war on Gaza, which began on October 7 in response to a retaliatory operation staged by the territory’s resistance groups.

So far, close to 41,000 Palestinians have been killed and more than 94,800 others wounded in the brutal military onslaught.

The Tuesday massacre came after the refugee camp witnessed an influx of homeless Palestinians, who had fled there from the death and destruction spree caused by the war elsewhere across the coastal sliver. Between 30,000 and 34,000 people were living upon each square kilometer of the camp at the time of the attack, the United Nations estimates show.

The weapons deployed during the massacre have been identified as American-made MK-84 bombs, which carry 900 pounds of explosives. 

The payload can create a crater about 15 meters wide and over 10 meters deep, besides being capable of causing deadly damage around it within a radius of approximately 73 meters. 

This is not the first time when the regime deploys the ammunition against civilian targets during the war. 

More than 70 Palestinians were killed after it struck the refugee camp with the same bombs in July.

As part of its unbridled military support for the regime, the United States has armed it with as many as 14,000 of the bombs since the onset of the war.

Hamas also called the US “complicit” in such massacres that “are being deliberately carried out without regard for international law, humanitarian law, or resolutions calling for an end to the aggression.”

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