By 2016, 1% to own half of world's wealth: Oxfam
London
MORE than half the world's wealth will be owned by just one per cent of the population by next year as global inequality soars, anti-poverty charity Oxfam said on Monday. In a report released ahead of this week's annual meeting of the international elite at Davos in Switzerland, Oxfam said that the top tier had seen their share of wealth increase from 44 per cent in 2009 to 48 per cent in 2014.
On current trends, it will exceed 50 per cent in 2016.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
German manufacturing downturn eases in April, PMI survey shows
India RBI's FX intervention eases as conditions turn favourable for rupee
Swiss inflation accelerates faster than expected in April
OECD upgrades global growth outlook as US outperforms
US official urges China, Russia to declare only humans, not AI, control nuclear weapons
Banking giants race to Riyadh as MBS steps up pressure campaign