Richest 1% to Have More Than Everyone Else in the World by Next Year: Oxfam

The richest one per cent's share of global wealth increased from 44 per cent in 2009 to 48 percent in 2014, the British charity said in a report, adding that it will be more that 50 per cent in 2016.

More than 1,500 business leaders and 40 heads of state or government will attend the January 21-24 meeting of the World Economic Forum (WEF) to network and discuss big themes, from the price of oil to the future of the Internet.

Wealth accumulated by the richest one per cent will exceed that of the other 99 per cent in 2016, the Oxfam charity said today, ahead of the annual meeting of the world's most powerful at Davos, Switzerland.

The annual congregation of the global elite for the World Economic Forum (WEF) in the coming week will have a strong India presence with senior Union ministers Arun Jaitley and Piyush Goyal, along with over 100 top corporate leaders, set to leave for the Swiss ski resort town of Davos.

The annual congregation of rich and powerful people at the high profile WEF annual meeting at Davos next week will see over 2,500 corporate and political leaders including Finance Minister Arun Jaitley as also 40 heads of states and governments from across the world.

Move over India Adda. The Modi government has now decided to do away with the Adda legacy (in many ways identified with the UPA's presence at Davos) and rechristen the space as the Make In India Lounge to highlight and promote the Prime Minister's pet project.

Finance Minister Arun Jaitley will meet state finance ministers on Friday to elicit their views on the forthcoming budget to be presented in Lok Sabha in February-end.

The 45th annual meeting of the World Economic Forum (WEF) will take place from January 21 of 24 in Davos-Klosters, Switzerland, with 'The New Global Context' as its theme.

The Global Competitiveness Report published by the Geneva-based body, which is most famous for gathering politicians and billionaires for an annual exchange of views at the Alpine resort of Davos, showed the same 10 countries filling the top 10 spots for at least the third year running.

Japanese Prime Minister Shinzo Abe plans to launch a female-focused version of the Davos economic forum, as part of a wider push to boost the number of women in the workforce at home, he said in an interview published on Tuesday.

The World Economic Forum on Africa kicks off in Abuja on Wednesday in the shadow of security fears and mounting global concern about the plight of more than 200 schoolgirls abducted by Islamist militants.

Nigeria hosts the World Economic Forum on Africa summit this week under tight security after two deadly car bomb attacks raised fears about a possible spread of Islamist militant violence.

Pantech, South Korea's No.3 smartphone maker, has been under a debt-restructuring programme after suffering six consecutive quarters of losses due to fierce competition.

The UK-based luxury car maker is close to signing a deal with the Saudi government to build an assembly factory in the east of the country, according to 'The Sunday Times'.

After big success of its existing models like Scorpio and XUV 500, auto major Mahindra and Mahindra (M&M) is working on a new mass-market sports utility vehicle (SUV) and plans to position it as the lowest-price vehicle in this segment.

Hackers attacked Israeli computers including one used by the defence ministry department dealing with civilians in the occupied West Bank, an Israeli data protection expert said.

Underlining the need for urgent action to tackle climate change, World Bank chief Jim Yong Kim on Saturday called for developing a $50-billion 'green bond' market by 2015.

India is committed to structural reforms to boost growth and any change in the government after the next elections is unlikely to have a major impact on its economic reform policy framework, Planning Commission Deputy Chairman Montek Singh Ahluwalia has said.

With economic growth remaining fragile, European countries cannot afford to relax their efforts towards implementing structural reforms, according to European Central Bank (ECB) chief Mario Draghi.

As the World Economic Forum annual meeting draws to a close, Indian business leaders say their main takeaway would be cautious optimism about their country, even as the upcoming general elections and evolving political scene seemed to dominate India discussions at this global gathering.