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Asia Has More Billionaires Than USA

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Asia has overtaken United States of America by having the highest number of billionaires for the first time in history. According to an annual report by Union Bank of Switzerland (USB) and PricewaterhouseCoopers, Asia now has the most billionaires in the world with new billionaires being minted every other day in 2016.

117 people broke past the billion dollar mark in 2016, bringing the total of the most populous continent to 637 billionaires. After a decline in 2015, the combined wealth of the world’s billionaire increased by 17% to $6 trillion in 2016. Although American billionaires still control most of the wealth, Asian billionaires wealth, led by China, rose at a faster pace than global counterparts.

The analysis of data from roughly 1,550 billionaires also suggests if the rise in wealth continues, Asia can even overtake USA as the world’s largest concentration of wealth in four years. USB report further states, “A combination of geopolitical stability in Greater China, rising Chinese real estate prices, infrastructure spending, the growing middle class and buoyant commodity prices all joined together to boost wealth.”

At a press conference, UBS’ Chief Investment Officer, Mark Haefele said, “How fast billionaire wealth grows in Asia will depend in part on how state driven investment in China is replaced with other sources of capital.” China and India contributed to three quarters of the world’s new billionaires while US added only 25 billionaires for a total of 563. Meanwhile, the number of billionaires in Europe remained at 342.

Overall, the world’s 500 richest people have recorded an increase of 19% in their wealth, adding $ 824 billion to the total. The net worth of the world’s richest people combined is estimated at $ 5.2 trillion as of 25 October 2017.

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Meta Expands AI-Powered Reels Translation to Hindi and Portuguese, Enhancing Global Creator Reach

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Meta has expanded its AI-powered translation feature for Reels to include Hindi and Portuguese, joining English and Spanish in empowering creators to reach a broader global audience on Instagram and Facebook. Originally launched in August 2025 with support for English and Spanish, this update now allows creators to seamlessly translate and dub their short videos, breaking language barriers across some of the largest Reels markets worldwide. The AI technology mimics the creator’s voice tone and even offers lip-syncing to ensure the translated videos feel natural and engaging for viewers.​

This enhancement is especially significant for India, the largest market for Facebook and Instagram, where over 600 million people speak Hindi. Content creators who are not fluent in Hindi can now easily access this vast audience, increasing their reach and engagement across diverse linguistic groups. To maintain transparency, all translated Reels are clearly labeled with “Translated with Meta AI,” and viewers can choose to switch translations on or off based on their preference.​

In addition to voice dubbing, Meta is developing features to translate captions and text stickers on Reels, making content more accessible even without sound. These AI translation tools are available free for eligible public Instagram accounts and Facebook creator profiles with over 1,000 followers. This innovation reinforces Meta’s commitment to fostering cross-cultural content sharing and enhancing creators’ ability to connect with audiences around the world through short-form videos.

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Dunzo’s Collapse: Reliance’s ₹1,645 Crore Loss Signals Challenges in India’s Hyperlocal Delivery Market

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Startup Stories

Reliance Industries has officially written off its $200 million investment in Dunzo, a once promising quick-commerce startup in India. Despite high-profile backing and the potential to disrupt the hyperlocal delivery sector, Dunzo faced insurmountable challenges including high operational costs, unsustainable cash burn, and stiff competition from larger players like Zepto and Blinkit. Reliance’s decision follows Dunzo’s operational suspension, leadership exits, and failed attempts at securing additional funding or acquisition partners, ultimately resulting in the company’s digital platforms going offline in early 2025.​

The downfall of Dunzo was accelerated by its inability to maintain a healthy balance between rapid expansion and revenue growth, with losses in FY23 reaching an alarming ₹1,800 crore. With monthly expenses crossing ₹100 crore and mounting pressure to scale, Dunzo resorted to layoffs and delayed payments before shutting down most services outside Bengaluru. Reliance’s significant stake, initially seen as a strategic advantage, ended up limiting the startup’s flexibility in making independent decisions during its final months.​

Reliance’s write-off sends a strong message to India’s startup ecosystem about the risks inherent in quick-commerce and hyperlocal delivery models. Investors are increasingly focused on sustainable growth, disciplined scaling, and profitability. For Reliance, lessons from Dunzo’s collapse are shaping future e-commerce strategies, driving greater emphasis on operational efficiency and prudent financial planning in an intensely competitive market.

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Zoho Arattai vs WhatsApp: 5 Reasons India’s Homegrown Messenger Is Winning in 2025

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Startup Stories

Zoho Arattai messenger has rapidly gained popularity in India by offering features tailored specifically for Indian users, setting itself apart from global competitors like WhatsApp. Arattai delivers exceptional regional language support, intuitive low-bandwidth messaging, and a lightweight interface, making it especially accessible to rural communities and users on lower-end smartphones. This focus on localization and inclusivity gives Arattai a significant edge in the Indian market, ensuring seamless communication even in remote areas.

Beyond usability, Arattai places a strong emphasis on user privacy and data sovereignty. The app stores all user data within India and follows a strict no-ads, no data-selling policy, which guarantees that personal information remains secure and uncompromised. While WhatsApp does provide robust end-to-end encryption, its global servers and Meta-owned data monetization model have raised concerns among privacy-conscious users. Arattai’s transparent approach makes it a trusted and attractive alternative for those who value privacy and wish to avoid intrusive advertisements or AI profiling.

Unique features such as integrated meetings, TV compatibility, and advanced mentions functionality further establish Arattai’s position as a well-rounded and future-ready messaging app. These India-first innovations, combined with Arattai’s ad-free philosophy, clean interface, and powerful optimizations for local contexts, make it the preferred messaging solution for those seeking a modern, secure, and regionally relevant alternative to WhatsApp.

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