The rise of the super-rich in the BRIC countries, India’s terrible roads and nightmare traffic led to a high helicopter demand in India. That’s despite the cost of $1.5 million to $15 million per chopper. A joint venture of AgustaWestland and Tata announced that they’re building a new helicopter factory in Hyderbad to keep up … Read more
Foreign millionaires fled Zurich after tax change Two years after scrapping special tax breaks, the region of Zurich has lost nearly half its foreign millionaires. Of the 201 foreign residents who benefited from the tax breaks which the canton scrapped in early 2009, 97 have decamped to more favourable tax regimes, the region’s tax services … Read more
Vivre à la française: Qatar Holding investment in LVMH raised at 1.03% Sovereign wealth fund Qatar Holding made a new investment in French luxury sector. The gas-rich emirate which has a participation in London department store Harrods, aquired a stake of slightly more than 1% in French luxury goods group LVMH Louis Vuitton Moet Hennessy. … Read more
At the 16th annual Luxury Briefing awards, held at Whitehall’s Corinthia Hotel, products ranging from hospitality services to luxury goods were recognised across 11 categories. The panel of judges included Luxury Briefing founder James Ogilvy, chief executive of Couture Lab Carmen Busquets, Simon Burstein, Mimma Viglezio, Jamie Jouning of Conde Nast digital and Chris Sanderson, … Read more
Debate is raging in China about officials’ spending on wining and dining, funded by public money. This year particular attention has been paid to Moutai, Chinese liquor also known as baijiu, a high-priced drink beloved of China’s wealthy businesspeople and officials. Recently ranked the fourth-most valuable luxury brand in China on the Hurun Report’s 2011 … Read more
Forbes began the pursuit of the world’s billionaires 25 years ago. The first cut yielded 140 names. This year the magazine have counted an all-time high 1,226 billionaires worth a record $4.6 trillion. Carlos Slim tops Forbes billionaires list at $69 billion. There are now billionaires from 58 countries. The U.S. is still home to … Read more