The gap between the super rich and the rest of the world widened last year as wealth continued to be owned by a small minority, Oxfam has claimed. Some 82% of money generated last year went to the richest 1% of the global population while the poorest half saw no increase at all, the charity said. Oxfam said its figures – which critics have queried – showed a failing system. It blamed tax evasion, firms’ influence on policy, erosion of workers’ rights, and cost cutting for the widening gap. Oxfam has produced similar reports for the past five years. In 2017 it calculated that the world’s eight richest individuals had as much wealth as the poorest half of the world. This year, it said 42 people now had as much wealth as the poorest half, but it revised last year’s figure to 61. Oxfam said the revision was due to improved data and said the trend of “widening inequality” remained. ‘Unacceptable’ Oxfam chief executive Mark Goldring said its constant readjustment of the figures reflected the fact that the report was based “on the best data available at the time”. “However you look at it, this is an unacceptable level of inequality,” he said. Oxfam’s report coincides with the start of the World Economic Forum in Davos, a Swiss ski resort. The annual conference attracts many of the world’s top political and business leaders. Inequality typically features high on the agenda, but Mr Goldring said that too often “tough talk fades… [Read full story]
by Tien Thanh A new milestone in Viet Nam chess was reached when Le Quang Liem recently became the first Vietnamese to become the world's No 1 junior chess player. He is also now one of the world's top 30 players. Liem, who was the first Vietnamese player to win Russia's annual Aeroflot Open, one of the most prestigious chess tournaments in the world, won the contest two years in a row. He was also the first Vietnamese player to play in the Dortmund Sparkassen Chess Meeting 2010, an elite invitational chess tournament. He finished second, despite being the youngest…... [read more]
The world needs $1.9 trillion in green technology investments a year, with over half of that sum necessary for developing countries," the UN said Tuesday. "Over the next 40 years, $1.9 trillion (1.31 trillion euros) per year will be needed for incremental investments in green technologies," the UN Economic and Social Affairs body said in its annual survey. "At least one-half, or $1.1 trillion per year, of the required investments will need to be made in developing countries to meet their rapidly increasing food and energy demands through the application of green technologies," it added. At the moment, "external financing…... [read more]
Despite not being in the world top 10, Nguyen Tien Minh is considered a definite threat at the world champs due to open in Hyderabad on August 10. th in the world, has been in top form. He won last month’s Thailand Grand Prix, one of the year’s 13 main events run by the Badminton World Federation. Earlier, he beat the world No 1 Lee Chong Wei, of Malaysia, and the former Olympic champion Taufik Hidayat. Malaysians are worried Minh will spoil their dream of Lee taking the world title. After his victory over Thai Boonsak Ponsana at the Thailand…... [read more]
Serbian star Novak Djokovic will become the newly-crowned world No. 1 on Monday after beating Frenchman Jo-Wilfried Tsonga in the men's singles semifinals at the Wimbledon Championships on Friday. "It feels amazing. When I finished the match, I didn't know how to show my emotions," said the second seed Djokovic, who outplayed the 12th seed Tsonga 7-6 (4), 6-2, 6-7(9), 6-3 to grab a Wimbledon final berth for the first time. Djokovic was broken in the first game by Tsonga, who fought back from two sets down to stun six-time Wimbledon champion Roger Federer in the quarterfinals. But the 24-year-old…... [read more]
The 3rd seed Kim Clijsters started her Australian Open in a thrilling form here on Tuesday by shocking a devastated Dinara Safina with a clean sweep in a clash between two former world No. 1. Three-time US Open champion Clijsters came to Melbourne for the ninth time as one of the top favorites of the women's singles title. The Belgian has also showed sensational form in the lead-ups for the first Slam of the season by reaching the final at the Medibank International Sydney where she only lost to China's Li Na, 11th ranked in the world, in three sets.…... [read more]
