Wealth of five richest men doubles since 2020 as five billion people made poorer in “decade of division,” says Oxfam

The world’s five richest men have more than doubled their fortunes from $405 billion to $869 billion since 2020 —at a rate of $14 million per hour— while nearly five billion people have been made poorer, reveals a new Oxfam report on inequality and global corporate power. If current trends continue, the world will have its first trillionaire within a decade but poverty won’t be eradicated for another 229 years. […]

January 15, 2024 6

Business / Economics

Global Risks 2024: Disinformation Tops Global Risks 2024 as Environmental Threats Intensify

Drawing on nearly two decades of original risks perception data, the World Economic Forum’s Global Risks Report 2024 warns of a global risks landscape in which progress in human development is being chipped away slowly, leaving states and individuals vulnerable to new and resurgent risks. Against a backdrop of systemic shifts in global power dynamics, climate, technology and demographics, global risks are stretching the world’s adaptative capacity to its limit. These are […]

January 11, 2024 20

Africa

Africa needs just trade for a Just Energy Transition, African Development Bank head says at Doha Forum

The President of the African Development Bank Group Dr Akinwumi Adesina has reiterated his warning that the introduction of a carbon border tax by the European Union could push Africa back into exporting raw commodities and undermine its industrialisation gains. The European Union recently launched the initial phase of a Europe-wide carbon tax on imported goods as part of its climate change reduction measures. Adesina said this could penalize African […]

December 14, 2023 10

World Economic Forum