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15 of 21 Filipino seafarers stranded in India back in PH

The first batch of Filipino seafarers who were abandoned by their Greek employer and stranded for three months in a port in southeastern India arrived in the Philippines. In a statement released by the Department of Foreign Affairs (DFA), 15 of the 21 seafarers...

One in seven Hong Kong resident is a millionaire

by | Finance, News

Citibank study revealed one million millionaires reside in Hong Kong in 2017. More than 68,000 of whom have at least HK$10-million (Dh4.6 million).

The study result was 15 percent higher compared in 2016.

The study defined millionaires as “those with liquid assets – deposits, mutual funds and stocks and bonds – of HK$1 million.”

This meant that one in seven Hong Kong residents is now a millionaire, reported South China Morning Post.

The result is attributed to the growing stock and property markets in the country.

The increase in the number of millionaires in the country is expected to carry on in 2018.

“Looking ahead, the number of millionaires will increase in 2018,” said Lawrence Lam, head of retail banking at Citibank Hong Kong.

“The stock market sentiment is strong while property prices will keep rising even with the interest rate rises.”

For Hong Kong millionaires, more than half of their assets came from their income, recording at 55 percent. The rest came from inheritance and investments.

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THE FILIPINO TIMES is the biggest and most trusted Filipino newspaper in the UAE.

It has a print run of 60,000 copies and 250,000 readership per week; bolstered by 1 million visitors to its website every month. It also has an e-newsletter sent to its 250,000 subscribers every day.

The Filipino Times is FREE and has the widest targeted circulation across the 7 emirates of the UAE.

With more than 2,500 strategic distribution spots, TFT is available where the Filipinos are - at Smart Bus Shelters, Metro Stations, restaurants, supermarkets, schools, airport lounges, Emirates and Etihad Philippine-bound flights, churches, Filipino community events and many more.

THE FILIPINO TIMES. We are where the Filipinos are.

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