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Indians’ billions boggle the mind

Industrialist Mukesh Ambani, who has been named India’s richest person for the ninth year in a row with a sharp increase in networth to $22.7 billion, has a fortune that is equal to Estonia’s GDP, says Forbes India. Similarly, Wipro’s Azim Premji, the fourth richest Indian on the Forbes list, has a net worth of […]


Durban rises in wealth rankings

While Durban lags behind Johannesburg and Cape Town in the wealth stakes, it is still home to more than 2,000 millionaires, according to World Cities: The wealthiest cities in the world, a report compiled by the market research company New World Wealth. Researchers said the total wealth held by the city amounted to $45 billion […]


Good quarter for Morgan Stanley

Morgan Stanley Wealth Management recorded a 9% rise in profits in the three months ending in September. The US brokerage and wealth firm reported a pre-tax profit of $901 million in the third quarter, up from the $824 million in the same period in 2015. This makes up 35.3% of the bank’s overall $1.6 billion […]


Fintech start-ups aid Asian investment

It is no secret that Asia is where the growth is. And investors who are truly savvy also know that some of the best growth opportunities lie among mid-sized Asian firms. The problem, however, is that it is tough for an investor to get to know such firms, many of which are family-run and tend […]


China Life buys Starwood stake

Starwood Capital Group sold a stake valued at about $2 billion in U.S. hotels to China Life Insurance Co., extending a streak of Chinese investment in overseas lodging properties and travel-related businesses. China Life, the country’s largest life-insurance company, will be the lead investor in the properties, with sovereign-wealth funds and others also owning a […]


Wealth gap widens in WA

Wealth inequality across Western Australia is growing despite the end of the mining boom, a landmark report into the State economy has found while also arguing areas of potential growth are struggling to escape the shadow of the resource sector. The Curtin University report confirms the boom delivered unprecedented growth in employment, wages and overall […]


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