21 November 2014 8:53
A new study shows the world’s ultra-rich people are getting richer, pointing out that most of the wealthy are among the adult population.
The findings of the study by the Union Bank of Switzerland and luxury industry consultant Wealth-X indicate that a total number of 211,275 million people qualify as "ultra-high net worth" (UHNW) in the world, AFP reported.
The UHNW are...
18 November 2014 23:18
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18 November 2014 23:01
The richest Americans hold more of the nation's wealth than they have in almost a century. What do they spend it on? As you might expect, personal jets, giant yachts, works of art, and luxury penthouses.
And also on politics. In fact, their political spending has been growing faster than their spending on anything else. It's been growing even faster than...
16 November 2014 23:28
Iran has opened a new gold processing plant, reportedly the biggest in the Middle East, hoping to double its production of precious metals. Using a unique technology, Tehran says it will now mine up to three tons of gold per year.
The new facility is located near one of the country's richest mines, Zareh Shuran. It is located 35 kilometers from...
16 November 2014 23:12
The Organization of the Petroleum Exporting Countries (OPEC) will maintain its current oil production ceiling of 30 million barrels per day (bpd), a former chief adviser to Saudi Arabia's Petroleum Ministry says.
Mohammed Suroor al-Sabban told businessmen in the Saudi city of Jeddah late Saturday that he expected OPEC members to keep the current output level in the upcoming 166th OPEC...
15 November 2014 17:53
Iranian Oil Minister Bijan Namdar Zanganeh underlined that the members of the Organization of Petroleum Exporting Countries (OPEC) are determined to reverse the trend of the falling market prices.
"It is important that the OPEC members are feeling the necessity for strengthening cooperation to restructure the current situation in the market and it is OPEC's responsibility to adopt proper action...
15 November 2014 17:28
Any economic recovery has benefitted the wealthy, not the poor, and propaganda has served to increase the gap between rich and poor, an economist tells Press TV.
“We keep talking about a recovery, which has really benefited the wealthy that own the assets; that have had the stock markets in the US and in Europe propped up by a lot of...
14 November 2014 15:02
Iran's non-oil exports in the first 7 months of the current Iranian year (March 21, 2014- October 22, 2014) increased 19 percent compared with the corresponding period in the last year.
Deputy Industry, Mines and Trade Minister Valiollah Afkhami said on Wednesday that the value of non-oil exports in the first seven months of the current year increased by 19% and...
11 November 2014 23:14
Iranian First Vice-President downplayed the effects of sanctions against the country.
Eshaq Jahangiri said in Alborz Province near the capital city of Tehran on Tuesday the Islamic Republic has serious plans for administering the country in case of facing even tougher embargos.
He added that "The enemies started the sanctions with a special goal and plan to prevent the country's growth and...
7 November 2014 18:42
The exports revenues of Iran's South Pars Gas Complex Company have considerably increased in the first half of the current Iranian year (March 21-September 22), the company's Managing Director Massoud Hassani announced.
"The South Pars Gas Complex revenues has hit $989 million by producing more than 1.6 billion cubic meter of gas in the first six months of the current year...
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