Alibaba's Jack Ma steps down as industry faces uncertainty
Beijing: Jack Ma, who founded Alibaba Group, the world's biggest e-commerce company, is stepping down as chairman at a time when the rapidly changing industry faces uncertainty amid a US-Chinese trade war.
Ma stepped down Tuesday as part of a succession announced a year earlier. He will stay on as a member of the Alibaba Partnership, a group of 36 people with the right to nominate a majority of the company's board of directors.
Ma, 55, founded Alibaba in 1999 to connect Chinese exporters to American retailers.
The company has shifted its focus to serving China's growing consumer market. Domestic businesses accounted for 66 per cent of its USD 16.7 billion in revenue in the quarter ending in June.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
PM Modi wants to take away reservation, says Rahul Gandhi at Telangana rally
Hyderabad (PTI): Mounting his attack on the BJP, Congress leader Rahul Gandhi on Sunday alleged that Prime Minister Narendra Modi was against reservations and wanted to take away quotas from the people.
Addressing an election rally at Nirmal under Adilabad (ST) Lok Sabha constituency in Telangana, he claimed that the ongoing general elections is taking place between two ideologies in which Congress is trying to safeguard the Constitution, while the BJP-RSS combine wants to end it and people's rights.
"Narendra Modi ji is against reservation. He wants to take away reservations from you. The biggest issue before the country is increasing reservation from 50 per cent," he added.
The Congress has in its manifesto promised that if the party forms the government at the Centre, it will breach the 50 per cent limit and increase the quotas beyond 50 per cent, he said.
BJP leaders also want reservations to end, he claimed.
Alleging that Modi privatised the public sector, Gandhi said the contract system implemented by the BJP-led government amounts to removing reservations.
"We will remove contract systems in government offices and the public sector. Permanent jobs would be available, not temporary jobs," he said.
"Narendra Modi has never said in his speeches till today that he will remove the 50 per cent barrier of reservations," Gandhi said.
He claimed that BJP leaders have told the countrymen that if their party wins elections, they will change and finish the Constitution.
"If the Constitution is finished, reservation will end," he said.
The BJP wants backward classes, dalits, adivasis remain backward, he alleged.
PM Modi waived off loans to the tune of Rs 16 lakh crore of about 22-25 people. "Rs 16 lakh crore means MNREGA money of 24 years, Narendra Modi ji gave to 22 people," he claimed.
The 22 rich people have money equivalent to what 70 crore Indians have. "The Congress is going to change this," he said.
Observing that the Congress government in Telangana implements poll promises like free travel for women in state-run buses, Gandhi said his party, if it comes to power at the Centre, would implement similar 'guarantees' across the country.
He said a list of poor families in the country would be taken up and Rs one lakh per annum would be deposited in the bank account of a woman from every family.
Noting that more than 90 per cent of the population comprises backward classes, adivasis, minorities and the poor in the general category, the Congress leader said they don't have a place in any organisation in the country.
The caste census proposed by the Congress would change the politics of the country because such poor and 90 per cent of people would come to know about their population and share, he said.
"We will make a survey of every organisation in the country. We will find out how much money the backward classes, dalits, adivasis and the poor have. After the caste census, there will be new politics in Telangana and in the country," he said.
The Constitution should be safeguarded and reservations should be increased, Gandhi said.
The incumbent government of the rich should be dislodged from power and the government of the poor, farmers, dalits and others should be installed, he added.
