LONDON: India has 340,000 people in the top 1% of global wealth holders accounting for a 0.7% share, including 1,820 with wealth over $50 million and 760 having more than $100 million, according to a new global wealth report released Tuesday.
The Zurich-based financial services major Credit Suisse estimates there could be 370,000 millionaires in India in 2022.
Since the financial crisis broke in 2008, the report says global wealth has grown by 27%. In the 12 months to mid-2017, it grew at a faster pace than in recent years, with mean wealth per adult reaching a record high.
“The United States continued its unbroken spell of gains since the financial crisis, bolstered by strong market conditions. It added $8.5 trillion to the stock of global wealth, which is half of the wealth generated globally over the 12 months to mid-2017.”
In percentage terms, India’s stock of household wealth during the period grew at 10.1%, although its addition to total global wealth was limited to $451 billion.
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LONDON: A 24-storey block of flats in west London was reduced to a smouldering shell after a blaze that began in the early hours of Wednesday killed at least 12 people, critically injured 20 and left hundreds of families traumatised.
There were harrowing scenes and accounts of children being dropped from windows in the hope that they would survive – at least one child was caught safely on the ground below. Fire fighters scoured the wrecked Grenfell Tower, built in 1974, through the day.
The blaze began around 1 am UK time and quickly spread, confirming apprehensions of local residents who had cautioned authorities months ago that the structure was a fire hazard.
The death toll was expected to increase, the police and London fire brigade said.
Gurdwaras, local residents and others across London offered shelter and help to survivors, some of whom escaped after slithering down the building with the help of bedsheets tied together amid screams and appeals for help.
The incident also had its impact on politics — no announcement was to be made about the ongoing coalition talks between the Democratic Unionist Party and the minority Theresa May government in view of the fire, DUP and Conservative Party sources said.
The fire brigade called it an “unprecedented situation”, while London mayor Sadiq Khan promised to ask questions why the usual strict fire safety measures in the country were not followed in the building. A review of all such buildings was also planned.
The Indian high commission set up an emergency helpline number, but there were no reports of any Indian citizens affected.
London fire brigade commissioner Dany Cotton said more than 200 firefighters and officers attended the incident, with 40 fire engines and a range of other specialist vehicles, including 14 fire rescue units, in attendance.
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London : A Pakistani- origin man was among three knife- wielding militants responsible for carrying out the London terror attack that killed seven people and injured 49, according to a media report. The man, identified as ‘Abz’, is believed to have been the ring leader of the trio, The Mirror reported.
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LONDON: Armed British officers arrested a man carrying knives near prime Minister Theresa May’s office in London on Thursday on suspicion of preparing an act of terrorism.
The 27 year old man was detained by counter terrorism officers on parliament street, a stone’s throw from the parliament building and May’s Downing street office, during a stop and search in an ongoing security operation, police said.
No one was injured in the incident, and may was not at Downing Street at the time because she was campaigning in northern England ahead of the June 8 Election. The knife incident came just over a month after a British born convert to Islam Ploughed a card into Pedestrians on nearby Westminster Bridge, killing four people, before stabbing to death a police officer in the grounds of parliament.
“Detectives from the counter Terrorism Command are continuing their investigation, and as a result of this arrest there is no immediate known threat,” police said in a statement about Thursday’s incident. “The man was arrested on suspicion of possession of an offensive weapon and on suspicion of the commission, preparation and instigation of acts of terrorism. Knives have been recovered from him.”
A Western security source said the man, from London, was known to counter terrorism officers and the domestic intelligence agency MI5 before his arrest. Two hours after his arrest, police reopened streets in the Westminster district.
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