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Bottled Water Seller Becomes China’s Richest Man

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The owner of China’s largest bottled water maker has overtaken Alibaba’s Jack Ma to become China’s richest man, the Bloomberg Billionaires Index showed Thursday.

According to Financial Times, Nongfu Spring founder Zhong Shanshan’s net worth has hit $58.7 billion after a massive listing by the bottled water company in Hong Kong, according to Bloomberg estimates that makes him richer than Mr. Ma, whose fortune dipped to $56.7bn after shares in e-commerce group Alibaba fell 0.9 percent in New York on Wednesday.

This makes him $2 billion richer than previous number one, Alibaba founder Jack Ma, the wealth index said.

Zhong’s Nongfu Spring, which claims to be number one in China’s massive bottled water market, is ubiquitous across a country where most people shun tap water for health reasons.

The company raised nearly $1.1 billion in its initial public offering.

Zhong is also the chairman of Beijing Wantai Biological Pharmacy Co. Ltd., a vaccine manufacturer listed on the mainland in April.

It is developing a Covid-19 vaccine nasal spray in conjunction with a prominent university.

Zhong, a 66-year-old former reporter from Zhejiang who state media say was also once a construction worker, is often referred to by Chinese media as a “lone wolf” for his rare public appearances and reluctance to be interviewed.

He founded Nongfu in 1996, just as China’s bottled water market began to take off.

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Middle East

Again, Iran Blocks Strait of Hormuz, Alleges Ceasefire Violation

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Iran, on Wednesday, shut the Strait of Hormuz following fresh Israeli strikes on Hezbollah targets in Lebanon, raising fears that a fragile ceasefire with the United States could collapse less than a day after it was reached.

The closure comes amid renewed hostilities that have cast doubt over efforts to halt more than a month of fighting. While both Iran and the United States had earlier declared victory after brokering the truce, fresh missile and drone attacks were reported across Iran and parts of the Gulf, alongside intensified Israeli bombardments in Lebanon.

In Beirut, Israeli strikes hit residential and commercial areas without prior warning, leaving at least multiple people dead and many others injured in what has been described as one of the deadliest days of the conflict.

Iranian state media confirmed the closure, with IRNA reporting that the move was taken “in the wake of Israel’s attacks on Lebanon.” The development has heightened concerns over the stability of the ceasefire agreement mediated by the United States.

Authorities in Iran also imposed strict controls on maritime movement in the strategic waterway. Ships near the strait were instructed to seek permission from Sepah, a special operations unit under the Iranian Revolutionary Guard Corps, before passage. A radio message cited by The Wall Street Journal warned that any vessel attempting to cross without approval “will be destroyed.”

Earlier in the day, Iran had indicated a willingness to reopen the strait during the proposed two-week ceasefire, noting this would be done with “coordination with Iran’s Armed Forces and with due consideration of technical limitations.” U.S. officials, meanwhile, said American forces could assist in managing ship traffic, although details remain unclear.

U.S. President Donald Trump also told ABC News he was open to a “joint venture” arrangement with Iran that would involve charging tolls for vessels passing through the strait.

However, reports of ceasefire breaches soon emerged. Pakistani Prime Minister Shehbaz Sharif, who played a role in negotiating the agreement, said on X that violations had already been recorded, further deepening uncertainty over whether the truce will hold.

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Trump Accuses Nigeria of Spreading Fake News on Iran Ceasefire Deal

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US President, Donald Trump, has accused Nigeria of allegedly spreading misinformation regarding Iran’s response to his ceasefire announcement.

Speaking on social media, Trump linked the “fake news” to CNN, adding that it was “totally made up” while attributing its origin to a Nigerian site.

According to Trump, the Nigerian site is a fake news platform, and CNN has been ordered to withdraw the statement.

“No one can believe that fake news CNN put out a knowingly false and dangerous statement pretending it came from the upper levels of the Iranian government. It didn’t!

“It was totally made up and posted as a headline for the purpose of perhaps inflaming a very delicate situation.

“It was a new troublemaking site from Nigeria and CNN just got caught cheating – A very dangerous thing to do,” part of Trump’s post read.

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Trump Delays Iran’s Strike by 2-Weeks As Pakistani Leaders Intervene

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President Donald Trump on Tuesday announced that, based on conversations with Pakistani Prime Minister Shehbaz Sharif and Field Marshal Asim Munir, he will delay the “bombing and attack of Iran” for two weeks.

Trump said the decision came after the leaders requested the U.S. “hold off the destructive force being sent tonight to Iran,” which the president previously threatened would start at 8 p.m. eastern time if a deal was not reached.

The president said the postponement is subject to the Islamic Republic of Iran agreeing to “the COMPLETE, IMMEDIATE, and SAFE OPENING of the Strait of Hormuz.”

“This will be a double sided CEASEFIRE!” Trump wrote in a Truth Social post. “The reason for doing so is that we have already met and exceeded all Military objectives, and are very far along with a definitive Agreement concerning Longterm PEACE with Iran, and PEACE in the Middle East.”

He added the administration received a 10-point proposal from Iran, and officials “believe it is a workable basis on which to negotiate.”

“Almost all of the various points of past contention have been agreed to between the United States and Iran, but a two week period will allow the Agreement to be finalized and consummated,” Trump wrote. “On behalf of the United States of America, as President, and also representing the Countries of the Middle East, it is an Honor to have this Longterm problem close to resolution.”

FoxNews

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