Category: Featured

How concentrated has wealth become in the globalized modern world? Here’s one answer: Just eight of the richest people on earth own as much combined wealth as half the human race.

That’s a notable change from last year, when it was reckoned to take 62 of the superrich to match the assets of the 3.6 billion people in the poorer half of mankind.

The charity Oxfam does the math each year and publishes its results just in time for the World Economic Forum in Davos, Switzerland, where many of the spectacularly wealthy are often among the attendees, along with diplomats, political figures, and business and cultural leaders. The Oxfam report on inequality is on the agenda for discussion at the forum.

Oxfam bases its figures in part on Forbes’s annual list of billionaires and the magazine’s estimates of their wealth. This year, Oxfam said, new data gathered by Credit Suisse about the global poor led it to lower its estimates of their assets, and revise its findings about how few rich men — the eight are all men — were needed to equal the wealth of 3.6 billion people.

Here are the eight, with their net worth as estimated by Forbes, whose annual survey depends on a range of sources:

Bill Gates, the founder of Microsoft, led the list with a net worth of $75 billion. He is scheduled to speak at the forum in Davos this year.

Amancio Ortega Gaona, the Spanish founder of the fashion company Inditex, best known for its oldest and biggest brand, Zara, has a net worth of $67 billion.

Warren E. Buffett, the chairman of Berkshire Hathaway, $60.8 billion.

Carlos Slim Helú, the Mexican telecommunications magnate, $50 billion.
Jeff Bezos, the founder of Amazon, $45.2 billion.

Mark Zuckerberg, Facebook’s creator, $44.6 billion.

Lawrence J. Ellison, the founder of Oracle, $43.6 billion.

Michael R. Bloomberg, the former mayor of New York and founder of the media and financial-data giant Bloomberg L.L.P., $40 billion.

I remember sitting in the snow all night. We were being bombed. Usually after a few hours it would stop. But not this time. I remember the faces of my kidnappers; how they kept saying, “Ya Rabi, Allah hu Akbar,” as the bombs fell. I remember wondering how someone who celebrated the massacre of innocent children could have the spine to take God’s name. But I would remember being tortured and how they would say Allah hu Akbar every time they hit me. They said it gave them strength, so I would say it right back, and louder because it gave me the strength to take any and everything they threw at me.

When the bombs started falling closer to us, I told my kidnappers, “Inshallah, today there are is no escaping. Inshallah, today you will be put to trial.” The same evening, I was sitting in my corner when my guard Sohail ran in, ecstatic. My Uzbek was weak but I could pick up that there had been an attack. Then, Muhammad Ali, the leader of the group, turned around and told me in Urdu, “Alhumdulillah we have avenged our women and children.”

As they took the radio out and started listening to the news, the horrors of what they were celebrating started to dawn upon me. Almost 150 children murdered in cold blood in broad day light. I couldn’t understand what was going on. “Army Public School,” they kept yelling, while hugging each other. “We have hit the enemy at the core,” they said. I had had enough. It was three-and-a-half years into my kidnapping so my fear of fear itself was really just a joke. “You are sick! These are children”, I shouted,” The Holy Quran says never touch women and children literally till they are about to kill you! Have you no respect for the word of God?” Trust me, asking them if they had any morals was stupid. I had screamed that in darkness upon deaf ears millions of times. I told them believe in karma. Believe that when you take something that you have no right over will be destroyed, if not in this life then the next. I told them that neither the Prophet (pbuh) nor his companions ever touched a child — unless it was to give knowledge and love. What they had done was heinous. “We will all die,” I told them. That’s when they said that they had not done it. An Ayat from the Quran and suddenly morality kicked in! They said it was Jundullah (which happened to be the name of their media cell). “Get lost!” I said as I sat back in my corner. I had no tears left but I knew tonight would be a tough night.

After every attack in Pakistan, I felt as if the bombs and bud duas (curses) all fell on me. I survived that night. And many nights after that till one day, a few months later, I saw this picture of my wife, Maheen, with some APS children. I think by this time, just her and my cousin Sharmeen had me as their profile pictures on social media. It had been months since I had had any contact or information. Seeing this picture, I finally found the strength to cry. Finally, I cried not out of pain and loneliness but the fact that there was still someone I could connect to. My wife had written about how being with the children and their families was the closest she had felt to me. I smiled because it was the furthest I had ever felt from her. I thought about those kids and their families and how there really was no justice. How can you give justice to a child who has lost his parent? And how do you console parents who have had their children stolen from them? You can’t. We could not defend our children that day.

The planner of this attack many many months later was in jail with me. I asked him how he justified it and he said that they were going to grow up and become army officers. “Mashallah, brothers”, I said. “We have a man who can see the future!” I told him that perhaps out of the 150, one would have been an imam. Maybe one would have been a doctor who worked pro bono in war-torn areas and treated your grandchildren? Were those two lives not important? Was the life of any Muslim child not important? What were you fighting for? I thought it was for women and children and the cruelty of the great western powers! What exactly is the difference between them and you?

I swear to you, he had boasted (about the attacked) in jail and I know he wasn’t lying because he had two other people with him to back his story about how he had planned the attack. He looked at me and said that the army had done it themselves and that they (militant groups) always took credit for these things but that it was an internal plot. All the other people started to laugh at him (all militants from various Pakistani and Afghan groups taken prisoners by the Taliban for joining the IS). I didn’t laugh. I saw how weak the devil really was. Spineless. I have seen the maddest men of our time. Men who say they are mujahideen, selfless in sacrifice. They were liars, traitors, cowards, thieves and murderers. That night I asked God to forgive me for fighting to stay alive in the company of men like these; for depending on such men to spare or even save my life. I also asked God to make me humble as a man and to embed the memory of that night in my soul so that I would never forget. That is what I ask, never forget. #16December, 2014.

The writer is the director of First Capital Securities Corporation and Chairman of Pace Barqa. He is the son of slain Punjab governor, Salmaan Taseer.

They believe that engine failure “should not have led to the plane crash as the aircraft was still flyable on the operative engine”.

Pakistan International Airlines’ flight PK-661 crashed on the way to Islamabad from Chitral on Wednesday.
Air Marshal (retd) Shahid Lateef insisted that the crash could have been avoided. According to him, the aircraft could still fly if one of its engines failed, adding that the aircraft could then be diverted to a nearby airfield for an emergency landing.

“Since it was a single engine failure, as we know, the captain of the aircraft should have flown and landed it safely. The aircraft does not even require a proper landing strip in case of emergency landing. The aircraft captain should have handled the emergency in a proper manner.”

He said that he believed that the crash had occurred because of pilot error, adding that pilots were unable to cope with the emergency situation.

“The crash also may have occurred because of lack of coordination between the pilot and co-pilot,” Lateef added.
Highlighting plane crashes under unavoidable circumstances, he said that if the aircraft caught fire and burnt in midair, it was considered ‘unavoidable circumstances’.

Another UK-based Pakistani aviation expert Malik Riz Awan said that although this was the first air crash in Pakistan, one needed to rule out a few things before making any assertion.

“The possibility of a lightning strike or storm must be ruled out. The last message sent by the captain to the control tower is also very important,” he said.

Agreeing with the assertion that multi-engine aircraft were capable of flying with just one working engine, he said that the pilot only needed to “adjust the throttle and control fuel flow”.

Informing that investigation into aircraft crashes generally took months to complete, he said that the aircraft’s load factor also needed to be checked, adding that improper loading might create a fatal center of gravity.
He claimed that even if the “aircraft is out of fuel, it may fly for 20 minutes”.

AirBlue Crash Affectees Association (ACAA) and Bhoja Air Crash Families Association demanded a transparent and impartial investigation into the latest crash on Thursday. They said that the probe should not be under the influence of the Civil Aviation Authority (CAA).

Stressing the need for compiling the report as soon as possible, they said they were disappointed with the attitudes of carriers and regulators of civil aviation matters.

They said that over the past six years, there have been a number of accidents in the country in which more than 350 lives had been lost.

“This latest tragedy has once again exposed the gaping holes in the system and standard operating procedures currently in place (or lack thereof) in the (domestic) civil aviation sector,” they said.

PESHAWAR/ISLAMABAD, Dec 7: There were no survivors after a plane carrying 47 people crashed into a mountain in northern Pakistan on Wednesday, the airline’s chairman said, as recovery operations continued late into the night at the remote crash site.

The military said 40 bodies had been recovered and rescue efforts involved about 500 soldiers, doctors and paramedics. The bodies were shifted to the Ayub Medical Center in nearby Abbottabad, about 20km (12 miles) away.
“There are no survivors, no one has survived,” said Muhammad Azam Saigol, the chairman for Pakistan International Airlines. PIA-operated flight PK661, which crashed en route from Chitral to the capital, Islamabad.

Junaid Jamshed, a well-known Pakistani pop star turned evangelical Muslim cleric, was among those feared dead, an airline official said.

PIA said the captain of the flight had reported losing power in one engine minutes before its plane lost contact with the control tower en route to the capital.

The airline said the plane crashed at 4:42 pm local time (1142 GMT) in the Havelian area of Khyber-Pakhtunkhwa province, about 40km (25 miles) north of Islamabad. Chitral, where the flight originated, is a popular tourist destination in Pakistan.

Saigol said the ATR turboprop aircraft had undergone regular maintenance and in October had passed an “A-check” maintenance certification, performed after every 500 flight hours.

He said a full investigation of the crash, involving international agencies, would be conducted.

“All of the bodies are burned beyond recognition. The debris are scattered,” Taj Muhammad Khan, a government official based in Havelian, told Reuters.

Khan, who was at the crash site, said witnesses told him “the aircraft has crashed in a mountainous area, and before it hit the ground it was on fire”.

Pakistani television showed a trail of wreckage engulfed in flames on a mountain slope.

Irfan Elahi, the government’s aviation secretary, told media the plane suffered engine problems but it was too early to determine the cause of the accident.

THREE FOREIGNERS ON BOARD
In a late night statement, PIA said the plane was carrying 47 people, including five crew members and 42 passengers. Earlier, the airline had said there were 48 people on board.

The airline said two Austrian citizens and one Chinese citizen, all men, had been on board. The flight manifest showed three people on board with foreign names.

The Austrian foreign minister’s spokesman later confirmed two Austrians had been killed in the crash.

A local trader at the site of the crash said the fire was still burning nearly two hours after the crash.
“They are removing body parts,” Nasim Gohar told Geo TV.

The military said it had sent in troops and helicopters.

“PIA is doing everything possible to help the families of passengers and crew members,” the airline said in a statement.

The pop singer Jamshed, a member of one of Pakistan’s first successful rock bands in the 1990s, abandoned his singing career to join the Tableeghi Jamaat group, which travels across Pakistan and abroad preaching about Islam.
In his last tweet, Jamshed posted pictures of a snow-capped mountain, calling Chitral “Heaven on Earth”.

Plane crashes are not uncommon in Pakistan and safety standards are often criticized. In recent years, media have reported on multiple near-misses as planes over-ran runways and engines caught fire.

In 2010, a passenger plane crashed in heavy rain near Islamabad, killing all 152 people on board. Two years later, a plane operated by a private Pakistani company, with 127 people on board, crashed near Islamabad. All on board were killed.

PIA has also suffered major disasters in the past.

In 1979 and 1992, PIA jets crashed in Jeddah, Saudi Arabia, and in Kathmandu, killing 156 and 167 people, respectively.

In 2006, a PIA plane crashed near the central city of Multan, killing 45 people.

(Additional reporting by Mehreen Zahra-Malik and Amjad Ali in ISLAMABAD and Gul Hamad Farooqi in CHITRAL,; Writing by Drazen Jorgic; Editing by Larry King)