Davos

A woman doing her chores on a makeshift bridge that connects her home in a flood-prone area in Barangay Tamontaka 4 in Cotabato City. (Photo: Manman Dejeto/Oxfam)

Pandemic creates new billionaire every 30 hours as countries like Philippines log higher poverty rates

As the cost of essential goods rises faster than it has in decades, billionaires in the food and energy sectors are increasing their fortunes by $1 billion dollars every two days

Mega-rich recoup COVID-losses in record-time yet billions will live in poverty for at least a decade

The 1,000 richest people on the planet recouped their COVID-19 losses within just nine months, but it could take more than a decade for the world’s poorest to recover from the economic impacts of the pandemic, reveals a new Oxfam report today.