China's billionaires are making money for the first time since 2020
Financial Express Mumbai|December 19, 2024
CHINA'S BILLIONAIRES ARE slowly starting to recover their wealth after three years of losses from a property crisis and Xi Jinping's push for common prosperity at the expense of powerful private business owners.
VENUS FENG PUIGWEN YEUNG

The combined fortunes of 55 of the nation's wealthiest tracked by the Bloomberg Billionaires Index have risen 16% to $809.6 billion since the beginning of January, after a rollercaster year marked by sweeping easing measures from Beijing that ultimately drove stocks higher.

Tech tycoons are leading the rebound. Tencent's Pony Ma is the biggest winner of the year, with his fortune surging by more than a third to $47.9 billion, according to Bloomberg's wealth index, which tracks the world's 500 richest people.

He was followed by Lei Jun, founder of smartphone maker Xiaomi, which has surged on its rapid push into electric vehicles. The tech billionaire has added $12.8 billion.

هذه القصة مأخوذة من طبعة December 19, 2024 من Financial Express Mumbai.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

هذه القصة مأخوذة من طبعة December 19, 2024 من Financial Express Mumbai.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

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Financial Express Mumbai

Free healthcare for senior citizens: Kejriwal

AHEAD OF DELHI Assembly elections next year, AAP national convener and former CM Arvind Kejriwal announced that all citizens of Delhi aged above 60 will get free medical care in government and private hospitals if his party returns to power.

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1 min  |
December 19, 2024
Financial Express Mumbai

US announces H-1B visa overhaul, Indian techies to benefit

THE US GOVERNMENT on Wednesday announced major reforms in its popular H-1B visa programme, a move that is expected to help thousands of Indian tech professionals.

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2 mins  |
December 19, 2024
'Had fun but it's time': Ashwin bows out of internationals with shock retirement call
Financial Express Mumbai

'Had fun but it's time': Ashwin bows out of internationals with shock retirement call

RASHWIN STOOD IN the corridor outside the press conference room after the third Test ended in a draw. Captain Rohit Sharma, walking just ahead of him, gestured to the waiting journalists. \"Sab pata chalega abhi (everything will be known now),\" he said with a laugh, perhaps in reference to the buzz in the press box and on social media about the possible retirement of a \"big player\".

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3 mins  |
December 19, 2024
Navy boat hits ferry off Mumbai coast, 13 dead
Financial Express Mumbai

Navy boat hits ferry off Mumbai coast, 13 dead

A PRIVATE FERRY, carrying more than 110 passengers to Elephanta Island off Mumbai coast, capsized after a Navy speedboat crashed into it on Wednesday. At least 13 people were killed in the incident, officials said, adding that the rest have been rescued.

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1 min  |
December 19, 2024
Financial Express Mumbai

Sebi tightens SME IPO rules

Sebi also cleared the review of merchant bankers, custodians, and provisions for high-value debt-listed entities (HVDLE) by increasing the threshold for identification of HVDLE from ₹500 cr to ₹1,000 cr, aligning it with that of large corporates, and introduced a sunset clause governing corporate governance of debt-listed securities.

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1 min  |
December 19, 2024
Opposition seeks Shah's resignation
Financial Express Mumbai

Opposition seeks Shah's resignation

PM defends HM; slams Cong & its 'rotten ecosystem'

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2 mins  |
December 19, 2024
Financial Express Mumbai

Enhancing customer journey in the cloud

ORACLE has created Customer Success Services (CSS) to provide comprehensive support for customers using its cloud tools.

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2 mins  |
December 19, 2024
US announces H-1B visa overhaul, Indian techies to benefit
Financial Express Mumbai

US announces H-1B visa overhaul, Indian techies to benefit

TO TAKE EFFECT IN MID-JANUARY

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2 mins  |
December 19, 2024
Moving beyond conventional tech
Financial Express Mumbai

Moving beyond conventional tech

AI offers a wide range of benefits for SMEs

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2 mins  |
December 19, 2024
Financial Express Mumbai

Drones deliver new hope to farmers

Aerial tech enhances farming efficiency, can tackle workforce woes

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2 mins  |
December 19, 2024