Richest 1% own more than the rest of us: Oxfam

Paris

THE richest one per cent of the world's population now own more than the rest of us combined, aid group Oxfam said on Monday, on the eve of the World Economic Forum (WEF) in Davos.

"Runaway inequality has created a world where 62 people own as much wealth as the poorest half of the world's population - a figure that has fallen from 388 just five years ago," the anti-poverty agency said in its report published ahead of the annual gathering of the world's financial and political elites in Davos. The report, entitled "An Economy for the 1%", states that women are disproportionately affected by the global inequality.