Singapore: Singapore overtook Hong Kong as home to Asia's wealthy last year as declining stock markets hit the former British territory a lot harder than its Southeast Asian rival, according to Capgemini and RBC Wealth Management.
Hong Kong, whose stock market capitalisation slumped 16.7 per cent last year, saw a sharper drop in the ranks of people with more than $1 million to invest as a larger proportion of that wealth was locked in equity.
Southeast Asia also shows stronger signs of resilience to global turbulence than the rest of Asia as buoyant domestic spending offsets struggling exports.
The number of high-net-worth individuals in Hong Kong fell 17.4 per cent to 83,600 last year, compared with a decline of 7.8 per cent to 91,200 people in Singapore, RBC Wealth's head of emerging markets Barend Janssens told reporters in Singapore on Wednesday....
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07:10 AM, Jun 21, 2012
London: Access to the Taj Mahal, the epitome of Mughal art and one of the world's most recognisable structures, may be limited to the rich and famous only, a new report has suggested. The report by the influential Future Laboratory in Britain claims that the Taj Mahal in India, the Pyramids of Egypt and Venice should be made the exclusive playgrounds of the wealthy class in order to protect them....
06:05 PM, Dec 13, 2010
Chandigarh: A high-profile beggar who is fond of the latest gadgets, electronic accessories, frequent trips and of holidaying at expensive hotels has been arrested by the Chandigarh police, officials said here on Friday. According to the police, 52-year-old Shankar Mehta alias Mehto was arrested on Thursday evening from a government guest-house here in Sector 42. Mehto was staying in the guest-house for the past two months and had paid Rs.6,000...
01:44 PM, Feb 05, 2010
