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UAE Predicted to Become World’s Top Wealth-Attracting Country for Third Consecutive Year

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UAE Predicted to Become World's Top Wealth-Attracting Country for Third Consecutive Year

(CTN News) – The Henley Private Wealth Migration Report predicts that the UAE will become the world’s top wealth-attracting country for the third year in a row.

The survey, which was released earlier this week, expects an extraordinary inflow of 6,700 millionaires from all over the world by the end of 2024, CNBC reported.

The United States is trailing behind the UAE in second place, with an expected inflow of 3,800 millionaires by year end.

According to Henley, the analysis projects that 128,000 millionaires, or high-net-worth individuals with one million dollars or more, will relocate in 2024, breaking the previous record of 120,000 millionaires set last year, signaling a watershed moment in global wealth migration.

The analysis is based on data provided by the global wealth intelligence business, New World Wealth. It provides information on millionaires’ inflows and outflows, as well as their global mobility trends.

millionaires UAE

Why the UAE is a Top Choice for Millionaires

“This great millionaire migration is a canary in the coal mine, signaling a profound shift in the global landscape and tectonic plates of wealth and power, with far-reaching implications for the future trajectory of the nations they leave behind or those which they make their new home,” said Dominic Volek, director of private client services at Henley & Partners, an international law firm.

The UAE is becoming a popular choice for high-net-worth individuals worldwide, thanks to its favorable tax regulations, strategic location, and modern infrastructure.

The country offers a “golden visa” to attract foreign talent, intending to “provide long-term residence to investors, entrepreneurs, specialists, students, and researchers who make a significant investment in the country,” according to Henley & Partners.

People from the Middle East, India, Russia, Africa, and most recently, the anticipated migration from the United Kingdom and Europe, are driving an increase in migration to the UAE.

According to Henley & Partners, the top ten countries expecting the biggest net inflows of millionaires this year are listed below.

  • United Arab Emirates: +6,700
  • United States of America: +3,800
  • Singapore: +3,500
  • Canada: +3,200
  • Australia: +2,500
  • Italy: +2,200
  • Switzerland: +1,500
  • Greece: +1,200
  • Portugal: +800
  • Japan: +400

Arslan Mughal is a freelance writer for VORNews, an online platform that covers news and events across various industries. With a knack for crafting engaging content, he specializes in breaking down complex topics into easily understandable pieces.

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Environment Canada Issues Heat Warning for BC and Alberta

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Environment Canada Issues Heat Warning
Heat Warning for BC and Alberta - Environment Canada Image

On Saturday afternoon, Environment Canada issued a heat warning for British Columbia’s Fraser Valley, Metro Vancouver and Alberta’s Edmonton, and Calgary cities.

A heat warning will remain in place until about the middle of next week, according to the weather service, because of the moderate risk to public health, Environment Canada reported.

“Very high temperatures are on the horizon starting Sunday,” Environment Canada warned in a press statement, citing a developing ridge of high pressure over the area.

The highs during the day will be in the low to mid-30s. Daytime highs will reach the upper 20s when you’re close to the water. Lows throughout the night will drop to about 17 degrees. By the middle of next week, the scorching weather should start to cool off, though when exactly that will happen is still up in the air.

Cooling Centers in Vancouver

With the installation of cooling centers, the City of Vancouver would like to remind its citizens.

“Anyone is welcome to cool down and rehydrate at one of these centers, and some will even allow well-behaved pets,” the city announced.

“Anyone can find a cool place to relax in the shade at any of the City’s other community centers, on plazas with coverings from the elements, or under the shade of trees, umbrellas, or awnings at parks or beaches.”

Next week’s temperatures in Alberta might reach 35C or higher, prompting Environment Canada to issue heat advisories for the province. Areas in northern, central, and southern Alberta, including High Level, Edmonton, and Calgary, are currently under the alerts.

By Sunday, the province can anticipate “extremely warm temperatures” brought on by a developing upper ridge, according to meteorologists.

Daytime Temperature to rise

A weather notice states that many sections of Alberta may expect daytime highs of near 30 C on Sunday, which will gradually rise to near 35 C by Wednesday.

“Downturns into the teens for the night won’t cool things down much.”

Residents of Alberta who live in the hotspots should stay indoors, avoid going outside as much as possible, and reschedule any outside activities they have planned. In order to prevent heat stroke and heat exhaustion, people should drink lots of water and other non-alcoholic, caffeine-free drinks.

The City of Edmonton has stated that it will activate its weather response for excessive heat on Monday to ensure the safety of vulnerable individuals in anticipation of warmer temperatures.

Unless there is a significant change in the forecast, city officials have stated that the response plan will conclude on Friday night.

The city emphasized the growing importance of preventing dehydration during heat waves.

Environment Canada has offered some tips to help residents stay cool during the upcoming heatwave, including:

  • drink plenty of water, even if you aren’t thirsty, especially at night
  • reduce activity level and avoid intense activity
  • wear a damp shawl or shirt
  • sit in a cool or tepid bath
  • take a cool shower
  • use a personal mister or spray bottle

As well, people are advised to watch out for signs of heat stroke, which include severe headache, confusion, unsteadiness, vomiting, and a loss of thirst.

Source: Global and City News

Heatwave in Delhi Claims 200 Homeless Lives in One Week

Heatwave in Delhi Claims 200 Homeless Lives in One Week

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South Korea’s First ‘Robot Suicide’ Raises Concerns: Robot Civil Servant Falls Down Stairs at Gumi City Council

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South Korea's First 'Robot Suicide' Raises Concerns Robot Civil Servant Falls Down Stairs at Gumi City Council

A robot civil servant in South Korea was discovered unresponsive at the foot of a stairwell, marking the country’s first ‘robot suicide’ case. Gumi City Council officials reported that the robot, known as “Robot Supervisor,” worked a conventional 9-to-5 workday and had its civil service ID card.

“Robot Supervisor” was apparently spotted by municipal staff about 4 p.m., who claimed that the robot had previously behaved abnormally, “circling in one spot as if something was there.”

“It was technically a member of the city hall staff, one of us.

According to the Daily Mail, a municipal official said “it worked diligently.”

What led to the ‘robot suicide’ in South Korea

While the cause of the fall is still being investigated, reports wonder whether the robot was asked ‘to work too hard’. The officials have collected the parts for analysis, which the robot’s maker is testing.

“Pieces have been collected and will be analysed by the company,” an official stated.

Bear Robotics, a California-based robot-waiter startup, produced the robot, which has been active since August 2023.

Unlike other service robots limited to single floors, the Gumi City Council robot explored the building independently, calling elevators to go between levels.

According to reports, the robot “helped with daily document deliveries, city promotion, and delivered information” to local residents.

The city council has postponed plans to deploy another robot.

According to reports, the Gumi City Council has postponed deploying another robot officer in response to this event.

According to the International Federation of Robotics, South Korea has a high rate of robot adoption, with one industrial robot for every ten employees.

Source: Daily Mail

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Tracking Tropical Storm Beryl: Implications for Texas, Houston, Routes, and Hurricane Watch

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Storm
Beryl likely makes landfall in south coastal Texas as a category 1 Hurricane late Sunday into Early Monday

(VOR News) – Severe weather is a hallmark of the tropics. Storm Beryl is presently en route to the Texas coast, passing over the Gulf of Mexico. This very moment is the present moment.

The hurricane was situated approximately 385 miles southeast of Corpus Christi at 4:00 p.m. on Saturday afternoon. It was traveling at a speed of thirteen miles per hour in a northwesterly direction. The highest wind speed ever recorded was seventy-five miles per hour when it was sustained.

What’s the deal with Tropical Storm Beryl, and how will it pass over Texas?

It is highly recommended that you prepare to “hunker down.” The National Hurricane Center is presently in the process of relocating to the general vicinity of Corpus Christi.

It is traveling in an exceedingly uncommon manner, despite the fact that its trajectory has not significantly changed.

The final landfall location will be substantially impacted by any modifications, regardless of their size, to the left or right as it travels up the coast. This is a result of the hurricane’s descent along the coast.

The National Storm Center (NHC) continues to anticipate that the storm will make landfall as a Category 1 hurricane early on Monday, despite the fact that all factors have been considered.

Nevertheless, there are a few things to be cognizant of, one of which is a precipitous increase in intensity that occurs immediately before the impact. It is not entirely improbable that a similar incident could occur, despite my sincere desire that it does not.

It is essential that the residents of Matagorda Bay, Galveston, or the coast are cognizant of the possibility of a five-foot increase in sea levels and storm surges. It is essential that you maintain a high level of awareness in relation to this issue.

The winds that follow will be substantially impacted by a variety of factors, including the precise location of landfall and any last-minute category adjustments.

It is crucial to have water, food, medication, pet food, and any other essentials on hand in the event of an electricity outage. By performing this, you will be able to effectively address any unforeseen circumstances. It is more advantageous to be overly prepared than to be underprepared. In these situations, it is advantageous to be overly prepared.

At present, the FOX 26 Weather Team is meticulously monitoring the most recent advancements in the weather phenomenon. They will continue to keep you informed of the most recent events by utilizing the internet, TV broadcasts, social media, and FOX Local.

Beryl is accountable for both monitoring and issuing warnings.

A hurricane warning has been issued for the entire Texas coast, which spans from the entrance of the Rio Grande River to San Luis Pass. The entire littoral is included in the warnings. The warning extends to the entire Rio Grande River.

A WARNING TO TRAVELERS FROM THE POLAR LANDS: Kindly be informed that

A tropical storm warning is currently in effect for the northeastern coast of mainland Mexico, which spans from Barra el Mezquital to the estuary of the Rio Grande River, and the coast of Texas, which extends from Baffin Bay to the outlet of the river.

Both of these regions are situated within the United States. The United States of America is divided into two distinct regions.

AIM FOR AND BE PREPARED FOR STORM SURGES.

Storm surges that would impact the entire Texas coast, from the entrance of the Rio Grande River to High Island, have been the subject of a warning. This notification will continue to be in effect until the end of the day.

Texas is enhancing its readiness for Hurricane Beryl.

On Friday, Governor Greg Abbott of Texas declared a severe meteorological calamity in response to Hurricane Beryl. Forty municipalities of the province were included in the declaration.

In order to improve the preparedness of the State Emergency Operations Center, the Texas Division of Emergency Management has implemented the following measures. This is one of the accomplishments they have achieved. Furthermore, the Texas catastrophe Management Council’s agencies are spending an inordinate amount of time coordinating the state’s resource acquisition for the catastrophe response response.

It is truly impossible to overstate the importance of having a disaster preparedness pack stored and ready to go well in advance of any potential storm. The essentials, including food, water, first aid supplies, and flashlights, should be included in the bare minimum of your kit, among other items.

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