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The income inequality virus in Africa: Good or bad for growth?

The income inequality virus in Africa: Good or bad for growth?
modernghana.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from modernghana.com Daily Mail and Mail on Sunday newspapers.

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Covid-19 economic crisis will be felt by the poor for a decade, report finds

Covid-19 economic crisis will be felt by the poor for a decade, report finds
26 Jan 2021
Volunteers from Sonko Rescue Team, an NGO privately funded by Nairobi Governor Mike Sonko, fumigate a street to curb the spread of COVID-19 during a joint operation with Nairobi county during a 7pm-5am curfew at a residential area in Nairobi, Kenya, on April 6, 2020. (Photo by Yasuyoshi Chiba/AFP)
It could take more than a decade for the world’s poorest people to recover from the economic effects of the Covid-19 pandemic, a new report finds.
According to Oxfam’s Inequality Virus Report, released on the opening day of the World Economic Forum’s Davos Dialogues, it took just nine months for the fortunes of the top 1 000 billionaires to return to their pre-pandemic highs. The world’s 10 richest billionaires who are all men saw their earnings skyrocket in 2020. ....

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Rich get richer but pandemic makes life far worse for the poor

Rich get richer but pandemic makes life far worse for the poor
thetimes.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thetimes.co.uk Daily Mail and Mail on Sunday newspapers.

Jim Clarken , Inequality Virus Report , சமத்துவமின்மை வைரஸ் அறிக்கை ,

Wealth of Irish billionaires increased by €3.3bn during Covid-19 pandemic | JOE is the voice of Irish people at home and abroad

The report states it could take at least 14 times longer for the number of people living in poverty to return to pre-pandemic levels than it took for the fortunes of the top 1,000 billionaires to recover.
Oxfam said its report was supported by the work of 295 economists from 79 countries across the world and 87% had predicted an increase or major increase in inequality in their countries.
85% of Irish economists surveyed for the report agreed there would be an increase in inequality in Ireland, with the majority believing it would be the worst rise in inequality since the financial crash in 2008.
âWe stand to witness the greatest rise in inequality since records began, with the deep divide between the rich and poor proving as deadly as the virus itself, Jim Clarken, Chief Executive of Oxfam Ireland, said. ....

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Top news of the day: Delhi Police gives No Objection Certificate to tractor rally, with conditions; Supreme Court gives two weeks to govt. to decide on mercy plea of convict in Beant Singh killing, and more

Indian and Chinese troops clashed at Naku La in North Sikkim last week which resulted in some minor injuries on both sides, it has been learnt. “It is clarified that there was a minor face-off at Naku La area of North Sikkim on January 20, 2021 and the same was resolved by local commanders as per established protocols,” the Army said in a statement.
Tata Consultancy Services on January 25 surpassed Reliance Industries Ltd. to become the country’s most valued firm by market capitalisation. During the afternoon trade, the market valuation of Tata Consultancy Services (TCS) was at ₹12,45,341.44 crore while that of Reliance Industries Ltd. (RIL) was at ₹12,42,593.78 crore on the BSE. ....

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