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Rich nations' wealth gap widens as welfare cutA growing divide between rich and poor risks will grow still wider if cash-strapped governments keep cutting back the welfare state, an industrialised nations' think-tank warned on Wednesday. Weighing into a debate on inequali More… |
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Mideast's ultra-rich 'not linked to oil'For most ultra high net worth individuals (UHNWIs) in the Middle East, the oil sector is not the source of their wealth, according to a new research. The typical Middle Eastern UHNWI is no More… |
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India debates raising taxes on the richIndia should consider the argument for higher taxes on the "very rich", Finance Minister P Chidambaram said in comments likely to fuel speculation about steps he may take in next month's budget to boost tax flows More… |
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Bill Gates still richest AmericanThe net worth of the richest Americans grew by 13 percent in the past year to $1.7 trillion, Forbes magazine said, and a familiar cast populated the top of the annual list, including Bill Gates, Warren Buffett, Larry Ellison an More… |
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450,000 millionaires in MideastThe number of millionaires rose 2.7 percent to 450,000 in the Middle East, while weakening economies that roiled markets last year took their toll on the world's rich. Asia for the first time had more millionaires than North America, accor More… |
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UK Islamic bank eyes Gulf richSharia-compliant Bank of London and the Middle East (BLME) is targeting the thousands of rich Gulf residents who have ties to the UK to boost its corporate and private banking business. Britain's largest standalone Sharia bank was set More… |
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QATAR RICHEST; Per capita income $88,000Qatar has been ranked as the world’s wealthiest country on a new list compiled by the prestigious US magazine Forbes. The UAE was placed sixth on the list. The Gulf state of 1.7 million people ranks as the world’s richest country per capi More… |
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Most Mideast rich 'trust their kin with wealth'An overwhelming majority of Middle East high net worth individuals (HNWIs) trust the next generation to protect their inheritance, says a study. However, 35 per cent of global high net worth individuals do not trust their children or stepc More… |
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Rich nations' growth lags, says World BankEconomic growth in the world's wealthier nations is still too slow to create enough jobs for the tens of millions who lost theirs during the global recession, the World Bank said. In a report detailing its outlook for 2011, the multila More… |
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Middle East wealthy rise 7.1pc in 2009The total HNWI (high net worth individuals) population in the Middle East rose 7.1 per cent to 400,000, returning to 2007 levels, and their combined wealth increased 5.1 per cent to $1.5 trillion, a report said. The 14th annual World Wealt More… |
