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 12,2024

Indore: Two Army officers were thrashed and one of their two women friends was allegedly gang-raped by armed miscreants when they were out on a picnic in Madhya Pradesh's Indore district in the wee hours of Wednesday.

Additional SP Rupesh Dwivedi said on Wednesday night that six suspects had been identified, two of whom have been detained from the jungles.
Both Army officers were injured in the mob attack. One of them managed to dial his senior officers but by the time police arrived from Mhow, 30km away, the woman had already been gang-raped.

The two Armymen are undergoing the Young Officers course at Infantry School, Mhow, SP Rural Hitika Vasal said.

According to the complaint filed by one of the lieutenants, the four of them had driven to Ahilya Gate near Jam Gate on Mhow-Mandleshwar road on Tuesday night. Built in 1791 by Rani Ahilyabai Holkar, Jam Gate is a popular picnic spot for its stunning views of the valley below, and the temple near Ahilya Gate draws a lot of devotees.

Around 2.30am, one of the officers and his female friend were in the car when 6-7 men attacked them. The other pair was atop a nearby hillock then and rushed down on hearing the confrontation.

The complaint says that the attackers held the pair they had attacked in the car hostage at gunpoint. They asked the other officer to bring Rs 10 lakh in ransom. This gave the officer - who was accompanied by the other woman - a chance to inform his seniors at Mhow, who in turn alerted police.

A large police force was dispatched to the spot but the attackers had escaped into the forest by then. All four of them were brought to Mhow Civil Hospital around 6.30am where a medical examination confirmed one of the women had been gang-raped. As per the duty doctor, there were injuries on both officers' bodies. "The complainant has alleged that the woman who was with him was raped, and they were looted as well," SP Vasal said.

Badgonda police registered a case under BNS sections 70 (gang-rape), 310-2 (dacoity), 308-2 (extortion) and 115-2 (voluntarily causing hurt), plus sections of Arms Act.

Forces from four police stations combed the jungles near Chhoti Jaam village and picked up two suspects.

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News Network
September 17,2024

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Union Home Minister Amit Shah on Tuesday, September 17, said the Waqf (Amendment) Bill, 2024 will be passed in the Parliament in the coming days. He said the Bill is committed to the management, preservation and misuse of Waqf properties.

The Joint Parliamentary Committee (JPC) on the Waqf Bill will meet from September 18 to 20. The JPC is scrutinising the Waqf (Amendment) Bill, 2024 which seeks to amend the Waqf (Amendment) Act of 2013.

On September 14, a Muslim organisation headed by Congress MP Tariq Anwar demanded the rejection of the Waqf (Amendment) Bill. The organisation alleged that the proposed legislation is an "indirect attempt to seize control of Muslim religious properties".

The All India Qaumi Tanzeem submitted 14 pages of suggestions and objections to the bill to the JPC through the Lok Sabha Secretariat.

The Bill was introduced in Lok Sabha on August 8.

On September 11, a Rajya Sabha panel summoned Minority Affairs Ministry officials to explain reasons for the delay in completing the process for framing subordinate legislation under the 2013 Waqf law.

The new bill seeks to change the registration process for Waqf properties through a centralised portal. It proposes several things, including establishing a Central Waqf Council alongside state Waqf Boards with representation to Muslim women and non-Muslim representatives.

A contentious provision of the Bill is the proposal to designate the district collector as the primary authority in determining whether a property is classified as Waqf or government land.

The Waqf (Amendment) Bill also aims at renaming the act to the Unified Waqf Management, Empowerment, Efficiency and Development Act, 1995.

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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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