United Kingdom (UK) Current Affairs - 2020

Times Rich List 2017: Three out of Four Wealthiest in Britain are Indians

As per the Times Rich List 2017, three India-born citizens are among top 5 richest people in Britain. The 29th edition of the Sunday Times Rich List’ released the names of UK’s 1000 wealthiest people including 40 Indian-born citizens.

Hinduja Brothers Srichand and Gopichand have topped the list to become the top of 134 billionaires in the country. The Hinduja borthers has estimated assets worth 16.2 billion pounds. Their investments in various industries include oil and gas, automotive, IT, energy, media, banking, property and healthcare sectors.

The Mumbai-born David and Simon Reuben has been placed at the third position in this year’s list with a net estimate of approximately 14 billion pounds. The Reuben brothers made their wealth with lucrative property deals. The Reuben brothers were holding the first place in the previous editions list.

The famous steel tycoon Lakshmi Mittal has jumped up seven spots in this edition’s list to reach the fourth spot this year. His net worth is estimated to be approximately 13.23 billion pounds.

This year’s list features a total of 40 Indian-origin people in the rankings. The other prominent Indians in the list include Gujarati brothers Mohsin and Zuber Issa of Euro Garages at 133rd position and Lord Swraj Paul, an NRI with an estimated fortune of 600 million pounds at 194th position. Interestingly, in this year’s edition, there is not even a single Briton among the top 5 wealthiest Britains.

Overall, the billionaires in the United Kingdom are far richer than before as it is held widely that the billionaires reaped benefits from Brexit boom. The assets of UK’s top 500 people and families in this edition are much more than the last year’s wealthiest 1,000. However, the list compiler has stated that the revival in the stock market to be the reason behind the growth of fortunes.

The second place in the list was allotted to the Ukrainian businessman Len Blavatnik. Duke of Westminster, Hugh Grosevenor, has been ranked 9th with assets worth 9.52 billion pounds.

The Sunday Times Rich List is a list of the 1,000 wealthiest people updated annually in April. It is published by British national Sunday newspaper since 1989.  Apart from the British citizens, the List also includes individuals and families born overseas who predominantly work or live in Britain.

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MP’s in UK vote to legalise three-person babies using Mitochondrial Donation Technique

Members of Parliament (MPs) in United Kingdom (UK) have voted to legalise law for creation of three-parent IVF designer babies using Mitochondrial Donation Technique.

In this regard, MPs in House of Commons during free vote, voted in favour of amendment bill to amend Human Fertilisation and Embryology Act, 1990 by 382 to 128 votes.

With this historic move, UK is now set to become the first country to introduce law to allow the creation of babies from three people. Now this amendment bill needs to be passed in House of Lords.

What is Mitochondrial Donation Technique?

  • It uses a modified version of In vitro fertilisation (IVF) to combine the DNA of the two parents with the healthy mitochondria of a donor woman. This technique was first pioneered by scientists at Newcastle University, UK.
  • This technique involves addition of healthy mitochondria from donor women to an egg from other women with defective mitochondria. Then it is fertilized with man’s sperm.
  • In this process, healthy mitochondria is passed to a child from the mother.
  • Advantage: It does not allow passage of defective mitochondria from mother to babies. Thus, preventing new born babies from brain damage, muscle wasting, heart failure and blindness due to defective mitochondria.

Mitochondria: It is a tiny compartment inside cell within the body that converts food in usable energy. It is also called as the powerhouse of the cell.

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