In this video, watch the scandal that overshadowed South African president Ramaphosa's reelection as chief of ruling ANC and how he turned the tables.

WION Dispatch: No easy road ahead for Ramaphosa?

At the World Economic Forum Annual Summit 2022, India was represented by large number of Indian companies. WION's Business Editor Sumit Chaturvedi exclusively spoke to CP Gurnani, MD and CEO, Tech Mahindra Ltd. on the sidelines of the Davos meet.

India growth story becoming more prominent, powerful: CP Gurnani, MD and CEO, Tech Mahindra

At the World Economic Forum Annual Summit 2022, India was represented by large number of Indian companies. WION's Business Editor Sumit Chaturvedi exclusively spoke to Neeraj Kanwar, Vice Chairman and MD, Apollo Tyres Ltd. on the sidelines of the Davos meet.

Chip shortage impacting India vehicle manufacturing: Neeraj Kanwar, VC and MD, Apollo Tyres

WION's Business Editor Sumit Chaturvedi exclusively spoke to Saadia Zahid, MD, World Economic Forum on the sidelines of the World Economic Forum Annual Meeting 2022 in Davos.

World looking at India growth story: Saadia Zahid, MD, World Economic Forum

WION's Business Editor Sumit Chaturvedi exclusively spoke to Alexander Klimburg, Head of Centre for Cybersecurity, WEF on the sidelines of the World Economic Forum Annual Meeting 2022 in Davos.

Looking at $10 trn cybercrime damage every year: Alexander Klimburg, WEF Cybersecurity Head

At a time when the world is staring at crisis due to economic growth slowing down due to climate change challenges, India can provide a solution to many of these problems. Our business editor Sumit Chaturvedi caught up with Shobana Kamineni, Executive Vice Chairperson Apollo Hospitals group to know more about how India can play a crucial role in providing answers to global challenges.

Davos Summit: How can India play a crucial role in providing answers to global challenges?

After days of discussions about Russia’s war in Ukraine, a global food crisis, climate change and other hot-button issues, the World Economic Forum’s annual meeting is set to conclude today (Thursday). WION's Sumit Chaturvedi brings you all latest update from Davos.

Last day of WEF Davos 2022: Annual Summit overshadowed by economic worries

WION's Business Editor Sumit Chaturvedi exclusively spoke to Praveer Sinha, TATA Power CEO and MD on the sidelines of the World Economic Forum Annual Meeting 2022 in Davos.

We feel excited on opportunity on clean energy: Praveer Sinha, TATA Power CEO and MD

Indian companies are also present at the World Economic Forum annual summit in Davos, India has registered economic recovery post covid-19 pandemic better than many nations. WION's Business Editor Sumit Chaturvedi exclusively spoke to Anish Shah, Mahindra and Mahindra CEO.

Less concerns from inflation in India: Anish Shah, Mahindra and Mahindra CEO

The International Monetary Fund has warned against “geo economic fragmentation” as policymakers and business leaders gather at the World Economic Forum in Davos, Switzerland.

Davos World Economic Forum: Global economy faces its biggest test since World War 2, says IMF Chief

Energy crisis is anchoring several other crises, says Indian petroleum minister Hardeep Singh Puri while speaking exclusively to WION at World Economic Forum in Davos.

Davos World Economic Forum: Indian petroleum minister Hardeep Singh Puri speaks to WION

World Economic Forum Davos: Indian petroleum minister Hardeep Singh Puri speaks to WION

Davos World Economic Forum: Growing pressures undermining global integration, says IMF Chief

After a gap of nearly two-and-a-half years, Swiss ski resort town Davos is hosting the World Economic Forum Annual Meeting. 2,500 leaders from politics, business, media are attending the summit.

World Economic Forum meet in Davos: Global summit to discuss economy, climate change

India has urged Tesla to also have a relook at India's plans in the light of reports that electric car makers put on hold plans to sell electric cars in India. While speaking to WION exclusively at Davos, Piyush Goyal said that we welcome Tesla in India.

Davos World Economic Forum: India urges Tesla to relook at entry

After a gap of nearly two-and-a-half years, Swiss ski resort town Davos is hosting the World Economic Forum Annual Meeting. The Russia-Ukraine war is going to dominate the talks in Davos. WION's Business Editor, Sumit Chaturvedi brings you more on this

World Economic Forum meet in Davos: Business elites & leaders gather for summit after 2 years

Davos World Economic Forum 2022: Global summit to discuss economy, climate change

The Russia-Ukraine war is going to dominate the World Economic Forum meet in Davos. Ukrainian President Volodymyr Zelensky joined the summit via a video link. While addressing Davos, Zelensky asked the world business leaders to stop trading with Russia. WION's Business Editor, Sumit Chaturvedi brings you more on this

World Economic Forum meet in Davos: Ukrainian President addresses forum via video link

<p>According to a recent Oxfam report, "Profiting from Pain," the Covid-19&nbsp;pandemic created&nbsp;a new billionaire every 30 hours, and a million people could slip into extreme poverty at the same pace in 2022. According to the report, billionaires in the food and energy sectors are boosting their fortunes by $1 billion every two days as the cost of critical items grows faster than it has in decades.</p>

<p>'Profiting from Pain' is released when the World Economic Forum — the world's most exclusive gathering of the global elite in Davos — meets for the first time in person since COVID-19, a period in which billionaires' wealth has soared.</p>

<p>As the global elite gathered in the Swiss mountain refuge for the World Economic Forum after a two-year Covid-induced hiatus, the international charity argued it was time to tax the wealthy to help the less fortunate. Oxfam estimates that 263 million people will fall into extreme poverty this year, at a rate of one million every 33 hours, as rising prices add to the Covid issue.In comparison, during the pandemic, 573 people became millionaires, or one every 30 hours.</p>

<p><strong>Watch | Davos World Economic Forum: India's Commerce minister Piyush Goyal speaks to WION</strong></p>

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/davos-world-economic-forum-indias-commerce-minister-piyush-goyal-speaks-to-wion-481319/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

<p>"Billionaires are arriving in Davos to celebrate an incredible surge in their fortunes. The pandemic and now the steep increases in food and energy prices have, simply put, been a bonanza for them. Meanwhile, decades of progress on extreme poverty are now in reverse and millions of people are facing impossible rises in the cost of simply staying alive," said Gabriela Bucher, Executive Director of Oxfam International.</p>

<p>"Billionaires’ fortunes have not increased because they are now smarter or working harder. Workers are working harder, for less pay and in worse conditions. The super-rich have rigged the system with impunity for decades and they are now reaping the benefits. They have seized a shocking amount of the world’s wealth as a result of privatization and monopolies, gutting regulation and workers’ rights while stashing their cash in tax havens — all with the complicity of governments," said Bucher.</p>

<div class="ui-state-default" contenteditable="false">
<div class="row">
<div class="article-blockquote">
<div class="col-sm-10 col-sm-offset-1 blockquote-content quoteshare">
<blockquote>
<h5>The wealth of billionaires has increased more in the first 24 months of COVID-19 than in the previous 23 years combined. The combined wealth of the world's billionaires now accounts for 13.9% of global GDP. This is a threefold increase from 2000 (4.4 percent).</h5>
</blockquote>
</div>

<div class="col-sm-1 blockquote-content">
<div class="share-blockquote"><a class="twitter popup" href="http://twitter.com/intent/tweet?text=The wealth of billionaires has increased more in the first 24 months of COVID-19 than in the previous 23 years combined. The combined wealth of the world's billionaires now accounts for 13.9% of global GDP. This is a threefold increase from 2000 (4.4 percent)." target="_blank"><i class="fa fa-share">&nbsp;</i></a></div>
</div>
<a class="close-mark close-div" href="#" id="jqquoteclosemark">×</a></div>
</div>
</div>

<p>Oxfam's new study also finds that businesses in the energy, food, and pharmaceutical sectors — all of which have monopolies — are making record profits, despite wages scarcely moving and workers struggling with decades-high prices in the face of COVID-19. In the last two years, the fortunes of food and energy billionaires have increased by $453 billion, or $1 billion every two days. Five of the world's major energy companies (BP, Shell, TotalEnergies, Exxon, and Chevron) are producing $2,600 in profit every second, while 62 new food millionaires have emerged.</p>

<p><strong>WATCH WION LIVE HERE</strong></p>

<p><iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe></p>

<p>You can <strong>now write for wionews.com</strong> and be a part of the community. Share your stories and opinions with us <strong><a href="https://www.wionews.com/content-contribution-registration-form">here</a>.</strong></p>


According to a recent Oxfam report, "Profiting from Pain," the Covid-19 pandemic created a new billionaire every 30 hours, and a million people could slip into extreme poverty at the same pace in 2022.

According to a recent Oxfam report, "Profiting from Pain," the Covid-19 pandemic created a new billionaire every 30 hours, and a million people could slip into extreme poverty at the same pace in 2022. According to the report, billionaires in the food and energy sectors are boosting their fortunes by $1 billion every two days as the cost of critical items grows faster than it has in decades. 'Profiting from Pain' is released when the World Economic Forum — the world's most exclusive gathering of the global elite in Davos — meets for the first time in person since COVID-19, a period in which billionaires' wealth has soared. As the global elite gathered in the Swiss mountain refuge for the World Economic Forum after a two-year Covid-induced hiatus, the international charity argued it was time to tax the wealthy to help the less fortunate. Oxfam estimates that 263 million people will fall into extreme poverty this year, at a rate of one million every 33 hours, as rising prices add to the Covid issue.In comparison, during the pandemic, 573 people became millionaires, or one every 30 hours. Watch | Davos World Economic Forum: India's Commerce minister Piyush Goyal speaks to WION "Billionaires are arriving in Davos to celebrate an incredible surge in their fortunes. The pandemic and now the steep increases in food and energy prices have, simply put, been a bonanza for them. Meanwhile, decades of progress on extreme poverty are now in reverse and millions of people are facing impossible rises in the cost of simply staying alive," said Gabriela Bucher, Executive Director of Oxfam International. "Billionaires’ fortunes have not increased because they are now smarter or working harder. Workers are working harder, for less pay and in worse conditions. The super-rich have rigged the system with impunity for decades and they are now reaping the benefits. They have seized a shocking amount of the world’s wealth as a result of privatization and monopolies, gutting regulation and workers’ rights while stashing their cash in tax havens — all with the complicity of governments," said Bucher. The wealth of billionaires has increased more in the first 24 months of COVID-19 than in the previous 23 years combined. The combined wealth of the world's billionaires now accounts for 13.9% of global GDP. This is a threefold increase from 2000 (4.4 percent). × Oxfam's new study also finds that businesses in the energy, food, and pharmaceutical sectors — all of which have monopolies — are making record profits, despite wages scarcely moving and workers struggling with decades-high prices in the face of COVID-19. In the last two years, the fortunes of food and energy billionaires have increased by $453 billion, or $1 billion every two days. Five of the world's major energy companies (BP, Shell, TotalEnergies, Exxon, and Chevron) are producing $2,600 in profit every second, while 62 new food millionaires have emerged. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

'Profiting from Pain': Covid created a billionaire every 30 hours — Oxfam at Davos forum

As the rich & powerful from across the globe gather in Davos for the WEF Annual Meeting 2022, Oxfam International said the pandemic has seen a new billionaire emerging every 30 hours.

Oxfam at WEF Annual Meeting 2022: Pandemic created a new billionaire every 30 hours

After a gap of nearly two-and-a-half years, Swiss ski resort town Davos is hosting the World Economic Forum Annual Meeting. The Russia-Ukraine war is going to dominate the talks in Davos. Ukrainian President Volodymyr Zelensky while addressing the 2,500 leaders from politics, business, media attending the summit called for maximum sanctions on Russia

World Economic Forum meet in Davos: Zelensky addresses World's Business Elite

India's commerce minister Piyush Goyal is leading the team India at the World Economic Forum in Davos. While speaking to WION exclusively, Piyush Goyal said that India is evolving with changing times. Next few years going to be India's time in Global economy.

Davos World Economic Forum: India's Commerce minister Piyush Goyal speaks to WION

Leaders from all across the globe are meeting in Davos for the World Economic Forum's annual meeting, the in-person meeting comes after two years break due to the covid-19 pandemic. What are the biggest issues on agenda at Davos?

WEF 2022: Davos gears up for high level meeting, 2500 leaders to attend summit

Leaders from all across the globe are meeting in Davos for the World Economic Forum's annual meeting, the in-person meeting comes after two years break due to the covid-19 pandemic.

World Economic Forum meet in Davos, Russia-Ukraine war to dominate agenda

davos

Davos, News on Davos, stories on Davos, articles on Davos, Davos stories at Wion, Davos news, Davos latest news