Growth amid pandemic: UAE is now home of 87,000 millionaires, 13 billionaires – in US Dollars

News Network
February 16, 2021

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Dubai, Feb 16: Wealth of millionaires and billionaires in the UAE increased by $45 billion (Dh165.15 billion) in the second half of 2020 despite Covid-19 pandemic taking toll of its economy.

Data from the New World Wealth showed that the wealth of high net worth individuals grew from $825 billion ($3 trillion) from June 2020 to $870 billion ($3.2 trillion) by the end of December 2020.

The UAE added 4,276 millionaires with a wealth of $1 million-plus and one billionaire during the six month period.

The UAE is home of 87,000 millionaires and 13 billionaires, controlling $870 billion (Dh3.2 trillion) wealth at the end of December 2020. At the end of June 2020, the UAE was home to 82,724 millionaires and 12 billionaires.

The study also found that Dubai is the richest city while UAE is the richest nation in the Mena region.

Andrew Amoils, head of research at New World Wealth, said a number of HNWIs moved to the UAE owing to its status as top safe haven in the region, high-income economy, first-class healthcare system, low tax rates, international business and luxury hub, top-class shopping malls and restaurants, top-end apartments and villas and good international schools.

It estimated that over 35,000 HNWIs have moved to the UAE between 2000 to 2020. Many of these individuals have come from India, the Middle East and Africa.

People in the UAE enjoy per capita income of $89,000 (Dh326,630) followed by Israel ($86,500), Qatar ($71,300), Saudi Arabia ($15,800), Turkey ($5,800) and Iran ($4,800).

The UAE is followed by Israel where millionaires and billionaires own $784 billion assets, followed by Saudi Arabia ($542 billion), Turkey ($482 billion), Iran ($395 billion) and Qatar ($202 billion).

The UAE is the largest wealth management centre in the region with assets under management (AuM) of approximately $110 billion, followed by Israel at $95 billion.

Most of the HNWIs have acquired wealth in the fields of finance and professional services; real estate and construction; transport and logistics; hotels and leisure; healthcare; technology and telecoms; retail and fashion; manufacturing, FMCG and Media.

Romika Fazeli, founder and managing director of Emirates World Club, said the UAE is the only country in the Middle East where all kinds of religions and cultures are welcomed and respected.

“I truly believe that as a millionaire and billionaire, you have the financial power and freedom to choose a country as your home where you live a comfortable lifestyle, considering the safety of your family, importance of work-life balance and religious freedom. Dubai is a multi-national and cultural city which makes it also one of the most metropolis cities in the world,” said Fazeli.

“When it comes to lifestyle and safety, Dubai is the best place to live a great life and second to none,” she added.

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News Network
December 5,2025

Mangaluru: In a significant step to curb online hate and intimidation, Mangaluru City Police have registered a suo motu case against multiple Instagram accounts accused of circulating alleged provocative and threatening content.

While monitoring social media activity on Tuesday, Kankanady Town PSI Anitha Nikkam identified the Instagram handle ‘team_targetttt_900’ for posting a hate message alongside images of lethal weapons. Another account, ‘team_nagara_900’, allegedly shared a threatening post targeting activist Bharath Kumdelu, tagging additional pages such as KARAVALI-OFFICIAL.

Several other accounts — including ‘immu_bhai.fan’, ‘target_boy_900’, ‘kings_of_manglore’, ‘team_target_boys.900’, ‘arshad_mangalore’, ‘target_ka19_ullal’, ‘team_target__’, ‘troll_tigersz_900’, ‘tr_group_900’, and ‘team_target_900’ — are also under scrutiny for spreading similar inflammatory material, police said.

Authorities have urged citizens, especially young social media users, to report suspicious pages and avoid engaging with groups that glorify violence or threaten individuals. Online hate can quickly escalate into real-world harm, and police stress that sharing or promoting such content can attract legal consequences.

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News Network
December 3,2025

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IndiGo, India’s largest airline, is battling one of its worst operational disruptions in recent years, with hundreds of delays and cancellations throwing domestic travel into chaos.

Government data on Tuesday showed its on-time performance plunging to 35%, an unusual dip for a carrier long associated with punctuality.

By Wednesday afternoon, airports in Delhi, Mumbai, Bengaluru and Hyderabad had collectively reported close to 200 cancellations, stranding travellers across the country.

Crew Shortage After New Duty Norms

A major trigger behind the meltdown is a severe crew shortage, especially among pilots, following the rollout of revised Flight Duty Time Limitation (FDTL) norms last month.

The rules mandate longer rest hours and more humane rosters — a shift IndiGo has struggled to incorporate across its vast network.

Sources said several flights were grounded due to lack of cabin crew, while some delays stretched upwards of eight hours.

With IndiGo controlling over 60% of India’s domestic aviation market, the ripple effect has impacted airports nationwide.

IndiGo Issues Apology, Lists “Compounding Factors”

In a statement, IndiGo acknowledged the large-scale disruption:

“We sincerely apologise to customers. A series of unforeseen operational challenges — technology glitches, winter schedule changes, adverse weather, system congestion and updated FDTL norms — created a compounding impact that could not have been anticipated.”

To stabilise operations, the airline has begun calibrated schedule adjustments for the next 48 hours, aiming to restore punctuality. Affected passengers are being offered refunds or alternate travel arrangements, IndiGo said.

What the FDTL Rules Require

The FDTL norms, designed to reduce pilot fatigue, cap duty and flying hours as follows:
•    Maximum 8 hours of flying per day
•    35 hours per week
•    125 hours per month
•    1,000 hours per year

Crew must also receive rest equalling twice the flight duration, with a minimum 10-hour rest period in any 24-hour window.

The DGCA introduced these limits to enhance flight safety.

Hyderabad: 33 Flights Cancelled, Long Queues Reported

Hyderabad’s Rajiv Gandhi International Airport saw heavy early-morning crowds as 33 IndiGo flights (arrivals and departures) were cancelled.

The airport clarified on X that operations were normal, advising passengers to contact IndiGo directly for latest flight status.

Cancellations included flights to and from Visakhapatnam, Goa, Ahmedabad, Delhi, Bengaluru, Chennai, Madurai, Hubli, Bhopal and Bhubaneswar.

Bengaluru: 42 Flights Disrupted

Bengaluru’s Kempegowda International Airport recorded 42 cancellations — 22 arrivals and 20 departures — affecting routes to Delhi, Mumbai, Chennai, Hyderabad, Goa, Kolkata and Lucknow.

Passengers Vent on Social Media

Irate travellers took to X to share their experiences. One passenger stranded in Hyderabad wrote: “I have been here since 3 a.m. and missed an important meeting.”

Another said: “My flight was pushed from 1:55 PM to 2:55 PM and now 4:35 PM. I was informed only three minutes before entering the airport.”

Delhi Airport Hit by Tech Glitch

At Delhi Airport, the disruption deepened due to a slowdown in the Amadeus system — used for reservations, check-ins and departure control.

The technical issue led to longer queues and sluggish processing, adding to delays already worsened by staff shortages.

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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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