The rich get richer
New York: There are more Russians and Indians among the 946 people that find a place on Forbes magazine's 2007 billionaires list unveiled on Thursday.
There are 19 per cent more billionaires than last year's number of 793, and their total net worth grew 35 per cent to $3.5 trillion, the magazine said.

The average billionaire's age fell by two years to 62, and 60 per cent of the billionaires started with very little. Two-thirds of those on the list were richer, with net worth up for nearly everyone in the top 50.

Microsoft Corp. chairman Bill Gates remained the world's richest man for the 13th straight year, with $56 billion, followed by Warren Buffett, chief executive of Berkshire Hathaway Inc., with $52 billion. Mexican telecoms tycoon Carlos Slim remained No. 3, with $49 billion.

Among those who have joined newly joined the list are Howard Schultz, the founder of coffee retailer Starbucks, and former Walt Disney boss Michael Eisner.

Schultz is 840th on the list and worth $1.1 billion. Eisner is 891st and worth $1 billion.

Yan Cheung, chairwoman of Nine Dragons Paper, is China's richest person and one of three self-made women born in the communist country to debut this year. $2.4 billion worth, she is 390th on the list.

Russia stood at No.3 in country rankings with 53 billionaires, behind Germany, which has 55 billionaires and held the runner-up spot in the billionaire stakes behind the United States.
However, the total worth of the Russians was more than the Germans at $282 billion versus $245 billion, Forbes said.

In Asia, India had the highest number of billionaires, and has overtaken Japan, which for two decades had held the region's top spot. India had 36 billionaires worth a total $191 billion while Japan's 24 billionaires were worth $64 billion, the magazine said.

There were 178 new billionaires and 53 nations were represented on the list. Of the 83 billionaire women, 10 were self-made, it said.

Google founders Larry Page and Sergey Brin are now worth $16.6 billion each, and the speed at which they amassed their fortune far is exceeding the pace of Gates, the magazine said. They both were ranked No. 26 on the list.

In India Steel tycoon Laxmi Mittal, the Ambani brothers and Wipro chief Azim Premji are among the nine Indians who figure in the Forbes magazine's list of 100 richest people in the world. Mittal is the fifth richest man in the world with a personal fortune of $32 billion.

Mukesh Ambani, chairman of Reliance Industries, and industrialist Anil Ambani accounted for $20.1 and $18.2 billion respectively and stood at 14th and 18th in the list.

Premji stood 21st on the rich list with a personal wealth of $17.1 billion.

Other Indians in the list are Kushal Pal Singh (62nd, $10 billion), Bharti Group chairman Sunil Mittal and family (49th, $9.5 billion), Aditya Birla Group chairman Kumar Birla (86th, $8 billion) and Essar Group's Shashi and Ravi Ruia (86th, $8 billion).
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US jobless benefit claims fall
Washington: The number of workers who filed initial claims for jobless benefits fell by 10,000 last week, to a seasonally adjusted 328,000. , This was slightly lower than Wall Street expectations, the Labor Department said.

However, the four-week moving average for claims, a better look at the underlying trend, rose to 339,000, its highest since an equal level in October 2005.

The number of workers filing for continuing claims fell 98,000, to 2.53 million, in the week that ended Feb. 24, offsetting a jump of 118,000 the previous week. The insured unemployment rate was 1.9 per cent, down from 2 per cent the previous week.
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