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PARIS, France (AFP) — The world’s 10 wealthiest men doubled their fortunes during the first two years of the coronavirus pandemic as poverty and inequality soared, a report said on Monday. Oxfam said the men’s wealth jumped from $700 billion to $1.5 trillion, at an average rate of $1.3 billion per day, in a briefing published before a virtual mini-summit of world leaders being held under the auspices of the World Economic Forum. A […]
by Ali BEKHTAOUI Agence France Presse PARIS, France (AFP) — The share of global wealth of the world’s richest people soared at a record pace during the Covid pandemic, a report on inequality showed Tuesday. Since 1995, the slice held by billionaires has risen from one percent to three percent, according to the World Inequality Report. “This increase was exacerbated during the Covid pandemic. In fact, 2020 marked the steepest increase in global billionaires’ […]
NEW YORK, United States (AFP) — America’s billionaires have seen their wealth rise by more than $1 trillion since the start of the coronavirus pandemic, according to a study Wednesday, fueling a debate about higher taxes on the rich. The collective wealth of the 651 billionaires in the United States soared from $2.95 trillion on March 18 to $4.01 billion on Monday, said the Institute for Policy Studies and Americans for Tax Fairness (ATF). […]
BEIJING, China (AFP) — China’s super wealthy have earned a record $1.5 trillion in 2020, more than the past five years combined, as e-commerce and gaming boomed during pandemic lockdowns, an annual rich list said Tuesday. An extra 257 people also joined the billionaires club in the world’s number-two economy by August, following two years of shrinking membership, according to the closely watched Hurun Report. The country now has a total of 878 billionaires. The […]
(Eagle News) — Deputy Ombudsman Melchor Arthur Carandang, Deputy Ombudsman for Mindanao Rodolfo Elman and several others face administrative charges for alleged graft and corruption and betrayal of public trust, among others. The charges were filed separately by lawyers Manuelito Luna and Emilio Mallari, and by former Rep. Jacinto Paras and lawyer Glenn Chong, on Tuesday. According to Luna and Mallari, Carandang was “guilty of graft and corruption” after he “maliciously claimed” the Anti-Money Laundering Council […]
(Eagle News) — President Rodrigo Duterte on Monday accused Ombudsman Conchita Carpio Morales of illegally obtaining documents pertaining to his bank transaction history and called for her resignation. “Mag-resign muna si Carpio because she’s corrupt at humahawak ng ebidensiya na kinuha nila na walang permiso sa AMLC (Anti-Money Laundering Council), illegally obtained,” Duterte said during the inauguration of Bahay Pag-asa in Marawi City. He said the one behind this was a mistress of a colonel, […]
(Eagle News) — Chief Presidential Legal Counsel Salvador Panelo on Friday denied President Rodrigo Duterte was intimidating the Office of the Ombudsman, noting that it was the chief executive who welcomed a probe into his family’s wealth in the first place. “No one is intimidating the Ombudsman..(The President) is not intimidating the Ombudsman,” Panelo said when asked in a television interview for his reaction to the anti-graft body’s statement that it would not be intimidated […]
(Eagle News) — The Anti-Money Laundering Council denied on Thursday that it had provided the Ombudsman with a report detailing the transactions of bank accounts President Rodrigo Duterte allegedly jointly owned with his children from 2006 to 2016. In making the denial, the AMLC effectively belied what Deputy Ombudsman Melchor Carandang was reported as saying—that the anti-graft body received the report that was used for a fact-finding probe into the President’s family wealth from the […]
(Eagle News) — “The President has nothing to hide.” This was the reaction of Presidential Spokesperson Ernesto Abella to reports the Ombudsman was probing President Rodrigo Duterte’s bank accounts. The launch of the probe was in response to a complaint filed by Senator Antonio Trillanes IV, who earlier made the allegations of ill-gotten wealth against the then-Davao mayor when he was still running for the position of the country’s chief executive. When Duterte won the […]
LONDON, United Kingdom (AFP) — Eight men own the same wealth as half the world’s population, a level of inequality which “threatens to pull our societies apart”, Oxfam said on Monday ahead of the World Economic Forum opening in Davos. The wealth of the world’s poorest 3.6 billion people is the equivalent to the combined net worth of six American businessmen, one from Spain and another from Mexico. Picked from Forbes’ billionaires list, they […]
