India 6th wealthiest country, says report

Agencies
May 20, 2018

New Delhi, May 20: India is the sixth wealthiest country in the world with a total wealth of USD 8,230 billion, according to the AfrAsia Bank Global Wealth Migration Review.

The report further stated that the United States is the wealthiest country in the world with a total wealth of USD 62,584 billion.

China stood at the second place with USD 24,803 billion, while Japan was at the third place with USD 19,522 billion.

Other countries in the top 10 wealthiest list include the United Kingdom, Germany, Australia, Canada, France and Italy.

The total wealth, in the report, refers to the private wealth held by all the individuals living in each country.

It includes all their assets less any liabilities. Government funds are excluded from it.

Therefore, larger countries have an advantage due to a higher population.
Further, the report stated factors that will help in wealth creation in India. They include a large number of entrepreneurs, good educational system, a robust outlook for IT, business process outsourcing, real estate, healthcare and media. These sectors will result in a 200 percent rise in wealth in the next 10 years.

Globally, the total private wealth held worldwide amounts to around USD 215 trillion.

There are about 5.84 lakh multi-millionaires in the world, each with net assets of 10 million dollars or more and 2,252 billionaires, each with net assets of 1 billion dollars or more.

Global wealth is expected to rise by 50 percent over the next decade, reaching 321 trillion dollars by 2027.

The fastest growing wealth markets are expected to be India, Sri Lanka, Vietnam, China, Mauritius, the report said.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
May 24,2020

Islamabad, May 24: Pakistan recorded 32 coronavirus-related deaths during the last 24 hours, taking the total number of fatalities in the country to 1,133, the health ministry said on Sunday.

The total number of COVID-19 patients in Pakistan also jumped to 54,601, it said.

Read: Coronavirus India update: State-wise total number of confirmed cases, deaths

Sindh reported the maximum number of 21,645 coronavirus cases, followed by Punjab at 19,557, Khyber-Pakhtukhwa at 7,685, Balochistan at 3,306, Islamabad at 1,592, Gilgit-Baltistan at 619 and Pakistan-occupied Kashmir (PoK) at 197.

According to the health ministry, 17,198 coronavirus patients have recovered and 473,607 tests, including 12,915 in the last 24 hours, have been conducted so far.

The government also issued strict instructions to observe social distancing while offering Eid prayer and asked people to avoid visiting relatives and hosting parties.

Eid congregations were held at open places, mosques and Eidgahs in all major cities and towns while following strict standard operating procedures (SOPs) of social distancing and other precautionary measures.

Pakistan Prime Minister's Special Assistant on Health Zafar Mirza on Friday said the deadly infection would continue to multiply if precautions are not taken.

Earlier this month, the government had announced the lifting of the countrywide lockdown imposed to curb the spread of the virus in phases, even as infections continued to rise in the country.

Prime Minister Imran Khan had cited the economic havoc the virus restrictions had wreaked on citizens as the reason behind the decision.

The prime minister on Saturday urged Pakistanis to forgo traditional Eid festivity in view of the hundreds of fatalities caused by the coronavirus and the lives lost in Friday's plane crash in Karachi.

Ninety-seven people, including nine children, were killed and two passengers miraculously survived a fiery crash when a Pakistan International Airlines plane with 99 travellers on board plunged into a densely populated residential area near the Jinnah International Airport in Karachi. Most of the victims were travelling home to celebrate Eid.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Agencies
June 26,2020

Scientists predict the world may have a COVID-19 vaccine within one year or even a few months earlier, said the Director-General of the World Health Organisation even as he underlined the importance of global cooperation to develop, manufacture and distribute vaccines.

However, making the vaccine available and distributing it to all will be a challenge and requires political will, Tedros Adhanom Ghebreyesus said on Thursday during a meeting with the European Parliament's Committee for Environment, Public Health and Food Safety.

One option would be to give the vaccine only to those that are most vulnerable to the virus.

There are currently over 100 COVID-19 vaccine candidates in various stages of development.

Adhanom Ghebreyesus said the pandemic has highlighted the importance of global solidarity and that health should not be seen as a cost but an investment.

He added that all countries in the world must strengthen primary health care and crisis preparedness and stressed the need for EU leadership globally.

While the Director-General said the situation in the EU has improved significantly, he underlined that COVID-19 is very much still circulating globally, with more than four million new cases in the last month.

Many Members of European Parliament said that the global community must cooperate including in developing, manufacturing and distributing vaccines against COVID-19 and asked when a safe vaccine could be available.

Several Members of European Parliament underlined the importance of the WHO but also said it has made mistakes in its response to the pandemic.

The Director-General admitted everyone makes mistakes and informed the members that an independent panel will evaluate the WHO response to the pandemic to learn from any mistakes made.

It will start its work soon, he said.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Agencies
June 24,2020

Seoul, Jun 24: North Korea on Wednesday said leader Kim Jong Un suspended a planned military retaliation against South Korea, possibly slowing the pressure campaign it has waged against its rival amid stalled nuclear negotiations with the Trump administration.

Last week, the North had declared relations with the South as fully ruptured, destroyed an inter-Korean liaison office in its territory and threatened unspecified military action to censure Seoul for a lack of progress in bilateral cooperation and for activists floating anti-Pyongyang leaflets across the border.

Analysts say North Korea, after weeks deliberately raising tensions, may be pulling away just enough to make room for South Korean concessions.

Pyongyang's official Korean Central News Agency said Kim presided by video conference over a meeting Tuesday of the ruling Workers' Party's Central Military Commission, which decided to postpone plans for military action against the South brought up by the North's military leaders.

KCNA didn't specify why the decision was made. It said other discussions included bolstering the country's "war deterrent".

Yoh Sang-key, spokesman of South Korea's Unification Ministry, said Seoul was "closely reviewing" the North's report but didn't further elaborate.

Yoh also said it was the first report in state media of Kim holding a video conferencing meeting, but he didn't provide a specific answer when asked whether that would have something to do with the coronavirus.

The North says there hasn't been a single COVID-19 case on its territory, but the claim is questioned by outside experts.

Kim Dong-yub, an analyst from Seoul's Institute for Far Eastern Studies, said it's likely that the North is waiting for further action from the South to salvage ties from what it sees as a position of strength, rather than softening its stance on its rival.

"What's clear is that the North said (the military action) was postponed, not cancelled," said Kim, a former South Korean military official who participated in inter-Korean military negotiations.

Other experts say the North would be seeking something major from the South, possibly a commitment to resume operations at a shuttered joint factory park in Kaesong, which was where the liaison office was located, or restart South Korean tours to the North's Diamond Mountain resort.

Those steps are prohibited by the international sanctions against the North over its nuclear weapons programme.

The public face of the North's recent bashing of the South has been Kim Yo Jong, the powerful sister of leader Kim Jong Un, who has been confirmed as his top official on inter-Korean affairs.

Issuing harsh statements through state media, she had said the North's demolishing of the liaison office would be just the first in a series of retaliatory action against the enemy South and that she would leave it to the North's military to come up with the next steps.

The General Staff of the North's military has said it would send troops to the mothballed inter-Korean cooperation sites in Kaesong and Diamond Mountain and restart military drills in frontline areas.

Such steps would nullify a set of deals the Koreas reached during a flurry of diplomacy in 2018 that prohibited them from taking hostile action against each other.

Also condemning the South over North Korean refugees floating anti-Pyongyang leaflets across the border, the North said Monday it printed 12 million of its own propaganda leaflets to be dropped over the South in what would be its largest ever anti-Seoul leafleting campaign.

It wasn't immediately clear whether Kim's decision to hold back military action would affect the country's plans for leafleting. The North's military had said it would open border areas on land and sea and provide protection for civilians involved in the leafleting campaigns.

The North has a history of dialling up pressure against the South when it fails to get what it wants from the United States. The North's recent steps came after months of frustration over Seoul's unwillingness to defy US-led sanctions and restart the inter-Korean economic projects that would breathe life into its broken economy.

Nuclear negotiations between Pyongyang and Washington largely stalled after Kim's second summit with President Donald Trump last year in Vietnam, where the Americans rejected North Korea's demands for major sanctions relief in exchange for a partial surrender of its nuclear capabilities.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.