4,000 millionaires left India in 2015'

[email protected] (CD Network)
March 30, 2016

New Delhi, Mar 30: India has seen the fourth biggest outflow of high net worth individuals globally in 2015 with shifting of 4,000 millionaires overseas, says a report.

lifeAccording to a report by New World Wealth, some 4,000 uber-rich Indians have changed their domicile in 2015, while France saw the maximum outflow of millionaires with as many as 10,000 super rich leaving the country.

The report however noted that the migration of super rich from China and India is not a "concern".

"The outflows from India and China are not particularly concerning as these countries are still producing far more new millionaires than they are losing," the report said and added that "once the standard of living in these countries improves, we expect several wealthy people to move back".

In terms of countries ranked by millionaires outflow, France was followed by China in the second place with 9,000 millionaires leaving the country while for Italy, at third position, the figure stood at 6,000.

On France, the report said, the country is being heavily impacted by rising religious tensions between Christians and Muslims, especially in urban areas.

"We expect that millionaire migration away from France will accelerate over the next decade as these tensions escalate," the report said.

It further noted that other European countries where religious tensions are starting to emerge such as Belgium, Germany, Sweden and the UK will also be negatively affected in the near future.

Other countries that saw significant millionaire outflows include Greece (3,000), while Russian Federation, Spain and Brazil saw 2,000 such outflows each.

In terms of millionaire inflows, Australia topped the chart as it saw as many as 8,000 uber rich people shifting base there, followed by the US(7,000) and Canada (5,000) in the second and third place respectively.

Millionaires, otherwise known as 'high net worth individuals' or 'HNWIs' refer to individuals with net assets of USD 1 million or more excluding their primary residences.

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Wednesday, 30 Mar 2016

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News Network
March 24,2020

Bengaluru, Mar 24: Bengaluru police registered an FIR against a 23 year-old woman who, while in home quarantine, visited supermarket despite having clear instructions to stay at home.

The Vijayanagar police said that the woman, a resident of Vijayanagar, had returned to the City on March 22 after a visit to Dubai."The city police had visited her house and stamped her for home quarantine and instructed her to stay at home but she visited Reliance Fresh on Monday.

We received information about it and the footage. Following this, we registered an FIR against her under section 269 (negligent act likely to spread infection of disease dangerous to life). We traced her and warned her to stay at home. We are also consulting senior officers and health officers on whether we have to send her to the government quarantine Centre or not,"the police said.

Commissioner of Police Bhaskar Rao strictly warned the people who are home quarantined to stay at home in public interest. If they were found in public places they will be picked up, arrested and sent to government quarantine."Please log in to get detailed story.

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News Network
July 22,2020

Bengaluru, Jul 22: A 54-year-old man committed suicide at his home, after he learned that he was tested positive for Covid-19, at Devasandra, in Sadashivanagar.

The deceased, Shivamahadeva, ran a cot shop in Yeshwantpur along with his brother. The police said that he was single and was living with his elder brother and his family.

In another incident, a 50-year-old man, committed suicide fearing Covid-19 and the stigma related to the illness.

The deceased has been identified as Nagaraju, a resident of Doddaballapura and a native of Hesaraghatta, and his body was found at the Hesaraghatta lake.

The police said that during the investigation it was found that the neighbours had accused Nagaraju of spreading the infection.

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Agencies
June 17,2020

Riyadh, Jun 17: Saudi Arabia is expected to scale back or call off this year's hajj pilgrimage for the first time in its modern history, observers say, a perilous decision as coronavirus cases spike.

Muslim nations are pressing Riyadh to give its much-delayed decision on whether the annual ritual will go ahead as scheduled in late July.

But as the kingdom negotiates a call fraught with political and economic risks in a tinderbox region, time is running out to organise logistics for one of the world's largest mass gatherings.

A full-scale hajj, which last year drew about 2.5 million pilgrims, appears increasingly unlikely after authorities advised Muslims in late March to defer preparations due to the fast-spreading disease.

"It's a toss-up between holding a nominal hajj and scrapping it entirely," a South Asian official in contact with Saudi hajj authorities said.

A Saudi official said: "The decision will soon be made and announced."

Indonesia, the world's most populous Muslim nation, withdrew from the pilgrimage this month after pressing Riyadh for clarity, with a minister calling it a "very bitter and difficult decision".

Malaysia, Senegal and Singapore followed suit with similar announcements.

Many other countries with Muslim populations -- from Egypt and Morocco to Turkey, Lebanon and Bulgaria -- have said they are still awaiting Riyadh's decision.

In countries like France, faith leaders have urged Muslims to "postpone" their pilgrimage plans until next year due to the prevailing risks.

The hajj, a must for able-bodied Muslims at least once in their lifetime, represents a major potential source of contagion as it packs millions of pilgrims into congested religious sites.

But any decision to limit or cancel the event risks annoying Muslim hardliners for whom religion trumps health concerns.

It could also trigger renewed scrutiny of the Saudi custodianship of Islam's holiest sites -- the kingdom's most powerful source of political legitimacy.

A series of deadly disasters over the years, including a 2015 stampede that killed up to 2,300 worshippers, has prompted criticism of the kingdom's management of the hajj.

"Saudi Arabia is caught between the devil and the deep blue sea," Umar Karim, a visiting fellow at the Royal United Services Institute in London, told AFP.

"The delay in announcing its decision shows it understands the political consequences of cancelling the hajj or reducing its scale."

"Buying time"

The kingdom is "buying time" as it treads cautiously, the South Asian official said.

"At the last minute if Saudi says 'we are ready to do a full hajj', (logistically) many countries will not be in a position" to participate, he said.

Amid an ongoing suspension of international flights, a reduced hajj with only local residents is a likely scenario, the official added.

A decision to cancel the hajj would be a first since the kingdom was founded in 1932.

Saudi Arabia managed to hold the pilgrimage during previous outbreaks of Ebola and MERS.

But it is struggling to contain the virus amid a serious spike in daily cases and deaths since authorities began easing a nationwide lockdown in late May.

In Saudi hospitals, sources say intensive care beds are fast filling up and a growing number of health workers are contracting the virus as the total number of cases has topped 130,000. Deaths surpassed 1,000 on Monday.

To counter the spike, authorities this month tightened lockdown restrictions in the city of Jeddah, gateway to the pilgrimage city of Mecca.

"Heartbroken"

"The hajj is the most important spiritual journey in the life of any Muslim, but if Saudi Arabia proceeds in this scenario it will not only exert pressure on its own health system," said Yasmine Farouk from the Carnegie Endowment for International Peace.

"It could also be widely held responsible for fanning the pandemic."

A cancelled or watered-down hajj would represent a major loss of revenue for the kingdom, which is already reeling from the twin shocks of the virus-induced slowdown and a plunge in oil prices.

The smaller year-round umrah pilgrimage was already suspended in March.

Together, they add $12 billion to the Saudi economy every year, according to government figures.

A negative decision would likely disappoint millions of Muslim pilgrims around the world who often invest their life savings and endure long waiting lists to make the trip.

"I can't help but be heartbroken -- I've been waiting for years," Indonesian civil servant Ria Taurisnawati, 37, told AFP as she sobbed.

"All my preparations were done, the clothes were ready and I got the necessary vaccination. But God has another plan."

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