Over 1,000 millionaires flocked to UAE in 2018

Agencies
April 19, 2019

Dubai, Apr 19: Dubai attracted more than 1,000 millionaires from outside the country, surpassing major cities like Los Angeles, Melbourne, Miami, New York, San Francisco and Sydney, according to the 'Global Wealth Migration Report' for 2019, developed recently by AfrAsia Bank and New World Wealth.

The report described Dubai as the most prominent financial centre in the Middle East, and one of the safest cities in the region as well as a popular destination for High-Net-Worth-Individuals (HNWIs) and wealthy expatriates.

It also said that Dubai is an example of the power that business incentives have in encouraging business formation.

Approximately 2,000 HNWIs, each with at least $1 million worth of net assets, moved into the UAE in 2018, boosting the local economy. The number of affluent migrants in the UAE rose by two per cent in 2018, compared to the previous year, according to the report.

The 2019 'Global Wealth Migration Report' said that global wealth migration saw an acceleration in 2018. Approximately 108,000 millionaires (HNWIs) migrated in 2018, compared to 95,000 in 2017. China saw a mass exodus of 15,000 millionaires in 2018, the most significant of any country in the world, followed by Russia, which saw an exodus of about 7000 millionaires. India saw an exodus of 5000 millionaires, while Turkey saw 4000, and France and the United Kingdom 3000 millionaires each.

The report reviewed the major factors that led to HNWIs moving outside their country to find a home that meets their needs. Key elements driving their relocation included security and safety, modern lifestyle, high standards of living, better educational opportunities and healthcare.

Driven by its success as a focal point for global trade, and an important transportation hub, Dubai has built a global reputation as a city with a highly developed infrastructure that boasts world-class standards in every sector. Based on an ethos of peaceful coexistence and tolerance, the UAE has become a worldwide model for harmony between people of different religions and ethnicities.

The country is home to people of over 200 nationalities. Its strong legislative framework provides high levels of safety and security while its exceptional infrastructure provides high-quality tourism facilities, service levels and entertainment offerings.

The city offers many advantages that make it a haven for the world's wealthy. Millionaires flock to the emirate due to a range of exceptional business incentives, robust foreign trade and international connectivity. Dubai attracted over 16 million tourists in 2018 and has the ambitious target of welcoming 25 million tourists by 2025.

Dubai International Airport (DXB) has retained its position as the world's busiest airport with the number of travellers passing through its terminals hitting nearly 90 million last year, up by one per cent from the previous year. Dubai International has been crowned as the world's busiest hub for international travel for a few years now since outranking London Heathrow in 2014.

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News Network
November 22,2025

Mangaluru: Police Commissioner Sudheer Kumar Reddy C H has warned of strict action against individuals spreading rumours and attempting to create insecurity within the Muslim community and fuel hatred between Hindus and Muslims through social media.

Referring to a recent social media post alleging that police personnel had entered a masjid premises to check whether beef was being cooked, the commissioner said miscreants were attempting to push their communal agenda. 

“A group of people, both from Mangaluru and abroad, are trying hard to spread rumours. For the past 10 days, they have been attempting to rake up old issues, highlight routine matters as controversies, or fabricate news altogether,” he said.

He reiterated that any such attempts to disturb communal harmony would invite legal action. “Cases will be registered and the accused will be brought to book,” he stated.

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News Network
December 4,2025

Mangaluru: Chaos erupted at Mangaluru International Airport (MIA) after IndiGo flight 6E 5150, bound for Mumbai, was repeatedly delayed and ultimately cancelled, leaving around 100 passengers stranded overnight. The incident highlights the ongoing country-wide operational disruptions affecting the airline, largely due to the implementation of new Flight Duty Time Limitations (FDTL) norms for crew.

The flight was initially scheduled for 9:25 PM on Tuesday but was first postponed to 11:40 PM, then midnight, before being cancelled around 3:00 AM. Passengers expressed frustration over last-minute communication and the lack of clarity, with elderly and ailing travellers particularly affected. “Though the airline arranged food, there was no proper communication, leaving us confused,” said one family member.

An IndiGo executive at MIA cited the FDTL rules, designed to prevent pilot fatigue by limiting crew working hours, as the cause of the cancellation. While alternative arrangements, including hotel stays, were offered, about 100 passengers chose to remain at the airport, creating tension. A replacement flight was arranged but also faced delays due to the same constraints, finally departing for Mumbai around 1:45 PM on Wednesday. Passengers either flew, requested refunds, or postponed their travel.

The Mangaluru delay is part of a broader crisis for IndiGo. The airline has been forced to make “calibrated schedule adjustments”—a euphemism for widespread cancellations and delays—after stricter FDTL norms came into effect on November 1.

While an IndiGo spokesperson acknowledged unavoidable flight disruptions due to technology issues, operational requirements, and the updated crew rostering rules, the DGCA has intervened, summoning senior airline officials to explain the chaos and outline corrective measures.

The ripple effect has been felt across the country, with major hubs like Bengaluru and Mumbai reporting numerous cancellations. The Mangaluru incident underscores the systemic operational strain currently confronting India’s largest carrier, leaving passengers nationwide grappling with uncertainty and delays.

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News Network
December 2,2025

Puttur: The long-cherished dream of a government medical college in Puttur has moved a decisive step closer to reality, with the Karnataka State Finance Department granting its official approval for the construction of a new 300-bed hospital.

Puttur MLA Ashok Kumar Rai announced the crucial development to reporters on Monday, confirming that the official communication from the finance department was issued on November 27. This 300-bed facility is intended to be the cornerstone for the establishment of the government medical college, a project announced in the state budget.

Fast-Track Implementation

The MLA outlined an aggressive timeline for the project:

•    A Detailed Project Report (DPR) for the hospital is expected to be ready within 45 days.

•    The tender process for the construction will be completed within two months.

Following the completion of the tender process, Chief Minister Siddaramaiah is scheduled to lay the foundation stone for the project.

"Setting up a medical college in Puttur is a historical decision by the Congress government in Karnataka," Rai stated. The project has an estimated budget allocation of Rs 1,000 crore for the medical college.

Focus on Medical Education Department

The MLA highlighted a key strategic move: requesting the government to implement the hospital construction through the Medical Education Department instead of the Health and Family Welfare Department. This is intended to streamline the entire process of establishing the full medical college, ensuring the facilities—including labs, operation theatres, and other necessary infrastructure—adhere to the strict guidelines set by the Medical Council of India (MCI). The proposed site for the project is in Bannur.

Rai also took the opportunity to address political criticism, stating that the government has fulfilled its promise despite "apprehensions" and "mocking and criticising" from opposition parties who had failed to take similar initiatives when they were in power. "Chief Minister Siddaramaiah has kept his word," he added.

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