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Asia’s billionaire population up by almost 30%

According to the latest study from ultra high net worth research firm Wealth-X. Asia’s billionaire population shot up by almost 30% last year to 784 individuals

Boris Sullivan

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Wealth-X, the leader in applied wealth intelligence, launched the fifth edition of its annual Billionaire Census today, revealing that billionaire wealth surged by 24% to a record level in 2017.

The report attributes this significant increase in wealth to a synchronized upturn in the world economy and climbing equity markets. In a rapidly shifting geopolitical environment, the influence on the world economy of this most exclusive group of individuals is continuing to rise.

The number of billionaires in the world reached 2,754 last year, increasing 15% from the prior year and exceeding the previous record of 2,473 in 2015, according to the Billionaire Census 2018 by Wealth-X, a global wealth intelligence and insight provider.

Their total wealth, including public and/or private holdings, liquid assets (cash or cash equivalent), real estate and other luxury assets grew 24.4% year-over-year to US$9.205 trillion.

According to the Wealth-X Billionaire Census 2018 there are now more global billionaires than ever before, powered by a vibrant technology sector, as well as dynamic growth in the number of ultra-wealthy individuals in Asia – which, for the first time, overtook North America as the home of the most billionaires.

The number of female billionaires grew 18% to 321, outpacing the growth rate of 14.5% in male billionaires.

Asia is now home to more billionaires than North America

A notable change in 2017 was that Asia overtook North America for the first time in eight years in terms of its billionaire population. The number of billionaires in Asia increased 29.2% from 2016 to 784, which was 57 more than that in North America. Europe, however, still had the most billionaires, at 821.

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Business

ASEAN Economic Forum to focus on “Advancing Partnership for Sustainability”

This year, as the ASEAN Chairman, Thailand has proposed the concept of “Advancing Partnership for Sustainability” as the main topic of 2019’s ASEAN Leaders Meeting.

National News Bureau of Thailand

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BANGKOK, 17 June 2019 (NNT) – At the 34th ASEAN Summit, Thailand will propose plans for promoting cooperation in various areas needed among ASEAN countries and accelerate implementation of the plans by this year under the concept of “Advancing Partnership for Sustainability” which will be the main topic of this ASEAN Leaders Meeting.

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King Power wins Duty Free auction for Thailand’s main airports

King Power is adding three regional airports to its duty-free concession portfolio after winning the bid for Suvarnabhumi

National News Bureau of Thailand

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BANGKOK, 12 June 2019 (NNT) – King Power today won the bidding to run duty-free shops in three regional airports, marking another victory for the firm which previously won two licenses to operate duty-free shops and the commercial zone at Bangkok’s Suvarnabhumi Airport.

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Private sector adopting a“wait and see” approach to new government

Mr. Thanawat disclosed that the Consumers Confidence Index dropped to 77.7 in May, the lowest in 19 months, due to the people’s concerns over political uncertainties and fears of the trade war between the United States and China

National News Bureau of Thailand

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Private sector waits to see new economic ministers to raise investors’ confidence

(NNT) – The private sector is waiting to see new ministers in charge of economic portfolios who may raise the confidence of investors. The Consumers Confidence Index was reported at 77.7 in May, the lowest in 19 months.

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