Amid the Coronavirus pandemic, the rich are getting richer, and the poor are getting poorer. The wealth of the world’s 2,189 billionaires soared to $8 trillion ($10.2 trillion) in July breaking the previous record of £7 trillion ($8.9tn) at the end of 2019. The latest report “Riding the Storm” by Swiss bank UBS and accounting…
Superpowers have always dominated their region by exerting an outsize an overbearing influence like China’s involvement in Southeast Asia, US looms over Latin America, Russia treat ex-Soviet States as its “near abroad”, creating unease among its smaller neighbours. The stunning growth of China has although yanked up the region’s economies, but its militarisation of the…
Fifty-six Indian entrepreneurs who founded various innovative Indian startups conferred on a Zoom Video conference call earlier this week to discuss a range of issues including establishing an alternative to Google Play Store, and set up a startup collective to fight the power of Big Tech and shape digital policy to take into account…
In August as the effect of the Eat Out to Help Out scheme which ran from Monday to Wednesday, and offered 50 per cent off food up to the value of £10, pushed down the restaurant prices and July’s consumer Prices Index (CPI) inflation figure had been1 per cent. The VAT cut in the hospitality…
UK economy recovered half of GDP lost since the start of the pandemic lockdown, amid faster rate virus spreading with the R number rising from 1 to 1.2, as the government faces backlash on new curbs. The Office for National Statistics (ONS) said that the UK “ has still only recovered just over half of…
The UK government debt at the end of July 2020 was £2, 004 trillion, £ 227.6bn more than at the same point last year according to the Office for National Statistics (ONS), which means the entire value of the country’s economy for the first time in 60 years. The Government owes the equivalent of 100.5…
The UK economy suffered its worst and biggest slump on record between April and June due to coronavirus lockdown measures, shrinking as much as 20.4 per cent compared with the first three months of the year. The UK is officially into recession. Household spending plunged as shops were ordered to close, while factory and construction…
Former FTSE 100 company has damaged reputations of London and the UAE. The Abu Dhabi based hospital operator BR Shetty (77) set up healthcare provider NMC in 1975, after emigrating to the United Arab Emirates from his native India, He created an emerging market company with a seductive pitch to investors and a charismatic founder…
The UK government borrowed £127.9bn between April and June for tackling the coronavirus pandemic, taking the total government debt to £1.98 trillion. The difference between spending and tax income was more than double the £55.4bn borrowed in the whole of the previous year. The borrowing in June was lower in May at £35.5bn, as…
Trade conflicts caused by governments promoting the interest of the elite at the expense of workers. Across the world, the rich have prospered while workers can no longer afford to buy what they produce have lost their jobs, or have been forced into higher levels of debt. The class wars of rising inequality are a…