On current trends, it will take 170 years for women to be paid the same as men
Breaking News - Eight richest men in the world own the same wealth as the 3.6 billion people who make up the poorest half of humanity, said a study by Oxfam, an international confederation of 19 social organisations, on Monday.
"Just eight richest men own the same wealth as the 3.6 billion people. None of them has earned his fortune through talent or hard work, but by inheritance or accumulation through industries prone to corruption and cronyism," claimed the study released ahead of the World Economic Forum annual meeting at Davos in Switzerland from Tuesday.
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In India, the study recalled that lawmakers passed a disclosure mandate in 2013, requiring CEO-pay ratios to be made public, which is an important step towards informing the public about the level of inequality within companies.
"It is not only in rich countries that CEOs (Chief Executive Officers) are rewarded with salaries that far outstrip average incomes. A top executive in India's largest cigarette manufacturer is being paid 439 times the median salary for employees at his company," claimed the study, citing a report by the capital markets regulator Securities Exchange Board of India (Sebi).
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