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The Suburbanization of American Poverty

Since December 2007, working families and communities across the country have faced an increasingly difficult economic reality. Growing unemployment and cutbacks in work hours and wages have made it harder and harder for people to make ends meet.

So the census numbers released in September really just confirmed what many Americans have already been feeling during this “Great Recession.” U.S. poverty is once again on the rise. In the first year of the downturn alone, the poor population grew by 2.6 million people to reach a total of 39.8 million, or 13.2 percent of the population.

But that’s not the whole story. The national lens obscures an important fact: place matters. Yes, 2008 brought a significant uptick in poverty, but whether or not your community was a part of this trend has a lot to do with where you live and what kind of jobs are located there.

Certain regions of the country have disproportionately borne the brunt of this recession. Areas hit hardest by the collapse of the housing market and those metro areas that depend on auto manufacturing have experienced the deepest downturns, while regions concentrated in more recession-proof industries – like educational and medical institutions or government – have fared better.

The 2008 poverty numbers reflect this varied experience. Out of the 100 largest metros areas, a little more than one in five saw a significant change in its poverty rate between 2007 and 2008, most of them increases (see map). Not surprisingly, many of these metro areas are located in California and Florida. The early timing of the burst of the housing bubble put these Sun Belt metro areas on the leading edge of what is sure to be a more widespread upward trend in poverty, reflecting a recession that deepened and spread in 2009. In contrast, metro areas like El Paso and Houston actually experienced a decline in poverty rates from 2007 to 2008, reflecting the later onset and milder effects of the downturn in much of Texas.

Although they represent regional economies, metro areas are themselves collections of cities and suburbs that do not necessarily experience poverty or respond to economic shocks uniformly.

Cities remain poorer places overall. In 2008, city residents in the 100 largest metro areas were almost twice as likely as their suburban counterparts to live in poverty—18.3 percent versus 9.5 percent. However, over the first year of the downturn, suburbs actually added more than twice as many poor people (578,000) as cities (218,000). Sun Belt suburbs – like those in the Florida metros of Lakeland, Palm Bay, Tampa, and Miami – led the list for increased poverty. These numbers reflect the fact that the suburbs are home to more people than their primary cities, but they also reflect the growing economic diversity of America’s suburbs.

In fact, an important shift has taken place in the geography of metropolitan poverty over the course of this decade. Between 2000 and 2008, the suburban poor population grew almost five times as fast as the city poor population, so that suburbs are now home to almost 1.9 million more poor people than their primary cities.

Brookings’ recent study on the “Landscape of Recession” within the country’s largest metro areas suggests that the current downturn will further accelerate the suburbanization of poverty.

More so than in the last recession, suburbs are bearing the brunt of this downturn alongside cities. City and suburban unemployment rates increased by nearly equal degrees and in May 2009 were separated by less than a percentage point—9.6 and 8.7 percent, respectively. And rather than concentrating in the older suburbs that surround cities, problems have spread to lower-density “exurbs” and “emerging suburbs” at the metropolitan fringe. These types of suburban communities showed the greatest spikes in their unemployed populations, with an increase of roughly 77 percent.

Clearly, city and suburban residents alike are experiencing increased economic stress, and the coming months and years will test the adequacy and availability of local safety net and emergency services. Here again, place makes a difference.

Case in point: as poverty increased in 2008, more families turned to food stamps (now called the Supplemental Nutrition Assistance Program, or SNAP) to help make ends meet. Just as the poor population grew faster in the suburbs, so did SNAP receipt. And yet participation in the program remains much higher in urban counties (8.9 million recipients) than suburban counties (5.3 million recipients). This disparity raises questions about whether families in suburban communities know how to connect to safety net services like food stamps, and how accessible these services are in these communities.

Understanding the shifting local geography of poverty is a critical first step in effectively addressing its alleviation. In our largest metropolitan areas, safety net services and social service providers traditionally have been concentrated in central city neighborhoods. As the geography of metropolitan poverty continues to change, policymakers and service providers must ask whether or not the growing suburban poor population has access to the same kinds of services and programs that can help families weather downturns in the economic cycle or connect to opportunities to work their way out of poverty.

The Great Recession is only likely to exacerbate gaps between available services and growing need, as government programs and nonprofit providers struggle to do more with less. Knowing where the need is, and where it is growing fastest, can help regions more effectively align existing social services and programs to respond to the new map of metropolitan poverty.

Editor's Note: This article originally appeared in the online forum Spotlight on Poverty and Opportunity on October 19, 2009.

Publication: Spotlight on Poverty and Opportunity
     
 
 




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Challenges Associated with the Suburbanization of Poverty: Prince George's County, Maryland

Martha Ross spoke to the Advisory Board of the Community Foundation for Prince George’s County, describing research on the suburbanization of poverty both nationally and in the Washington region.

Despite perceptions that economic distress is primarily a central city phenomenon, suburbs are home to increasing numbers of low-income families. She highlighted the need to strengthen the social service infrastructure in suburban areas.

Full Presentation on Poverty in the Washington-Area Suburbs » (PDF)

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Walkable Urbanism

Chris Leinberger discusses his book about the most walkable urban and metro areas in the United States with Nicole Lapin from CNN.

NICOLE LAPIN: Walkable Urbanism.  Well, it's spreading beyond the boundaries of inner cities and into suburbs as Gen-Xers and empty nesters are searching for communities offering a walkable lifestyle. Well, all of this is according to a brand new book The Option of Urbanism Investing in a New American Dream.  The book was written in conjunction with the survey by the Brookings Institution. Brookings basically compiled a list of the best places for a car-less walkable urban lifestyle. Where you can basically: work, go home, go shopping, go to school, see entertainment all within a walking distance. So joining me now to talk more about this whole idea, the new 'American Dream,' is the author of that book Chris Leinberger. He joins us live from the Brookings Institution. Chris, thank you so much.

CHRIS LEINBERGER: Why thank you Nicole.

NICOLE LAPIN: Okay, first of all, let’s talk about this list because I got in my car this morning in Atlanta. I'm assuming Atlanta is not on the list?

CHRIS LEINBERGER: It's sort of in the middle of the list – it's not towards the top.

NICOLE LAPIN: Okay, so the top ten, can we start out, what’s number one?

CHRIS LEINBERGER: Number one is Washington, D.C. – and again we are talking about the metropolitan area.

NICOLE LAPIN: So, basically the west end, west of downtown, that has changed so much lately.

CHRIS LEINBERGER: Yes it has, but downtown itself has probably been the most remarkable downtown turnaround in the country. But, then all of the downtown adjacent places like the west end – which was an old industrial section – that's almost now built out. Dupont Circle which was dangerous twenty years ago is now a very elegant place and three or four other places around downtown, so it's not just downtown. 

Watch the full interview>>

Authors

Publication: CNN
     
 
 




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Walkable Urbanism is Changing City Life

Ever since World War II, the American dream has encompassed the four-bedroom house with a white picket fence, tucked away in the suburbs. But this dream has gradually turned into a nightmare, with the increase of traffic, congestion and the general inconvenience of being detached from the city. Whereas people once rejoiced in camping trips to escape metropolitan living, we are now, as a culture, magnetized towards it as the appeal for walking more and driving less steadily increases.

KOJO NNAMDI:Chris you've dubbed this new style of living- "Walkable Urbanism." What is the evidence of a rising demand for it?

CHRIS LEINBERGER: There's demographic evidence; there's consumer research evidence; but probably the most compelling evidence is the price premium people are willing to pay to live in a walkable urban place, that the survey's show anywhere from a 40% to 200% price premium on a price per square foot basis for a walkable urban place as oppose to a competitive near by drivable suburban place.

KOJO NNAMDI: So it used to be that a condo or a townhouse was entry level product for people who couldn’t afford a real house, its beginning to be the other way around?

CHRIS LEINBERGER: In fact in 2003 for the first time in the country's history, condos on a price per square foot basis cost more than single family housing, and that includes all those old condo's that were built to be a alternative to a quote "real house" which was a single family house.  Its fundamentally changed and we've only seen the beginning of this train.

KOJO NNAMDI: I am intrigued about why people's preferences are indeed changing. In your book you give some of the credit to popular culture. Talk about the difference between the baby boomers- who grew up on 'Leave it Beaver,' the 'Brady Bunch' versus Generation Xer's who watch 'Seinfeld, and 'Sex in the City.'

CHRIS LEINBERGER: That’s just a reflection of the market reality. Hollywood does more consumer research than any business in the entire economy, and there out there doing focus groups constantly. So there reflecting what’s going on. Baby Boomers when they would see somebody- an image on the screen of some young woman flimsily dressed, walking down a dark street in a city, they would think- 'Oh my God, Hill street blues, and Blade Runner.' And the Gen-Xer's think, 'oh she is going to go to a new art gallery opening right down the street with all her friends.' Whole different perception of what a city life is like.

KOJO NNAMDI: A generational difference...

  
Listen to the full interview

Authors

Publication: The Kojo Nnamdi Show (WAMU)
      
 
 




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Urbanization and Inventing a Clean Economy of Place


Editor’s Note: This piece originally was published on the Guardian’s Sustainable Business website.

I recently returned from Copenhagen, my first time to the Danish capital. Even a three day visit affirms why this city of more than 540,000 residents has received global recognition as a beacon of sustainable development. An incredible 36 percent of all commuting trips to work or school are made by bike along, in many cases, secure bike lanes that protect cyclists from cars and buses. Another 32 percent of city residents either walk or utilize the region's highly-efficient public transportation network of buses and trains.

This kind of sustainable development clearly yields significant environmental benefits. Copenhagen achieved the highest ranking in the 2009 European Green City Index, scoring in the top 10 in all eight categories, from energy efficiency to transport and environmental governance.

Growing green is obviously an environmental imperative. Yet the Copenhagen experience shows that it can be a market proposition as well, with a diverse set of economic and fiscal benefits accruing to cities that are at the vanguard of sustainable development. Cities like Copenhagen, in short, may be inventing a clean economy of place.

Monday Morning, the respected Scandinavian thinktank, recently released a report detailing the effect of building a city that is high in spatial efficiency and rich in transport choices. Some of the benefits are direct and local. Residents who cycle to work or school are healthier, so health care costs decline (by an estimated $380 million a year). Fewer cars on the road means less congestion and fewer accidents, so additional savings are realized.

Yet the big effect from sustainable development may be indirect and global, as specialized firms naturally rise and expand to meet the growing demand for clean services and clean products. Monday Morning's report finds that Copenhagen's clean sector has been a critical contributor to the region's economy in the past decade, with green exports outpacing all other sectors by growing at an astounding 77 percent between 2004 and 2009.

Cities in the U.S. are following suit. Portland, Oregon, is also internationally renowned for its commitment to sustainable development. The Portland metropolis has an expansive public transit system and an urban growth boundary to control development at the urban periphery. The city boasts a green investment fund to provide grants for residential and commercial building projects.

Now the city is striving, like Copenhagen, to reap the economic rewards of sustainable development through business formation, firm expansion, job growth and private investment. In February, Portland released its first regional export plan to double exports over five years by building on the region's distinctive economic and physical attributes. A critical pillar of this strategy involves increasing the export orientation of firms in the burgeoning clean technology sector to serve growing markets in Asia, Latin America and elsewhere.

Both Copenhagen and Portland recognize that urbanization is the dominant market-shaping trend of the century. By 2030 it is estimated that China will have one billion residents while India will have 590 million. These nations and others will demand products and services that enable development that is economically supportive, environmentally sensitive and spatially efficient. And those products and services may disproportionately emerge from firms located in cities, in mature economies and rising nations alike, which are first movers on sustainable development.

The economic benefits of sustainable development could be substantial. Last year, my program at Brookings measured the U.S. clean economy at 2.7 million jobs. That means the clean economy has more jobs than fossil-fuel related industries and is nearly twice the size of the biosciences field and 60 percent of the 4.8 million strong IT sector.

The U.S. clean economy is also incredibly diverse (sweeping across five broad categories and 39 separate clusters) and disproportionately located in the nation's top 100 cities and metropolitan areas.

Green architecture and construction services cluster illustrates the potential for growth and the reality of metropolitan concentration. This segment already employs over 56,000 people in the U.S. Some 90 percent of these jobs are located in the top 100 cities and towns (although those communities house only two-thirds of the population). The segment grew by a healthy annual average of 6.4 percent between 2003 and 2010 and includes firms such as Burns and McDonnell Engineering in Kansas City, McKinstry and Co. in Seattle, and Gensler in San Francisco. Conclusion: the clean economy of place constitutes a virtuous cycle between cities, companies, consumers and clusters.

Let me end where I began, in Copenhagen. The city is not resting on its cycling laurels but setting its sights higher, towards achieving a goal of carbon neutrality by 2025. Shakespeare was wrong: all is not rotten in the state of Denmark. Nurturing what is good — and green — embracing it and extending it could provide a platform for economic growth for decades to come.

Authors

Publication: The Guardian
Image Source: © Brendan McDermid / Reuters
      
 
 




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Urbanization and Land Reform under China’s Current Growth Model: Facts, Challenges and Directions for Future Reform

In the first installment of the Brookings-Tsinghua Center Policy Series, Nonresident Senior Fellow Tao Ran explores how China’s growth model since the mid-1990’s has led to a series of distortions in the country’s urban land use, housing price and migration patterns.The report further argues for a coordinated reform package in China’s land, household registration and…

      
 
 




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An urbanist's question: Where is the best place to have a parade?

Do you plan it where there is lots of room, or do you put it where there is good transit accessibility?




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How to market an electric car in America: Bash urbanism, walking, and the French.

Americans don't walk and stop and cafés or take vacations. That's why they get to drive $75,000 plug-in hybrids.




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Blueprint for Autonomous Urbanism shows how cities can adapt and change to accommodate everyone

NACTO lays out a vision for how autonomous vehicles, and technology more broadly, can work in service of safe, sustainable, equitable, vibrant cities.




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Banish 'thigh chafe' with these simple solutions

Women share their tried-and-true fixes for this incredibly common yet rarely discussed problem.







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Albania's amazing Euro journey

From football outsiders to Euro 2016 finalists, key figures of the Albanian national team talk to FIFA Football about their historic qualification for the European Championship.




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Mouine Chaabani, manager of ES Tunis gives his team instructions

AL AIN, UNITED ARAB EMIRATES - DECEMBER 18: Mouine Chaabani, Manager of ES Tunis gives his team instructions the FIFA Club World Cup UAE 2018 5th Place Match between ES Tunis and CD Guadalajara at Hazza Bin Zayed Stadium on December 18, 2018 in Al Ain, United Arab Emirates. (Photo by Michael Regan - FIFA/FIFA via Getty Images)




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Lockdown diaries: Shibani Dandekar cooks pasta; Farhan Akhtar's review will make you smile

Farhan Akhtar and Shibani Dandekar do not shy away from the media or the public glare to profess their love for each other. Their Instagram account is all about pictures filled with Public Display of Affection (PDA), and their cryptic captions leave their fans scratching heads to decode it.

Recently, Shibani shared a video on Instagram of herself, cooking pasta while Farhan films her. As Shibani cooks pasta with mushrooms, spring onions and cream sauce, Farhan is seen gives us a live-commentary. Shibani captioned the post: "How can anyone be this bad in the kitchen? Making pasta with mushrooms, spring onions and cream sauce! I've made this a thousand times and it still isn't that good! Thank you to my wonderful kitchen assistants and cameraman (sic)."

The alleged couple has been enjoying their quarantine time together. They regularly give us insights about the fun they have through their videos and pictures. Recently, Shibani shared a picture where she can be seen chilling with her "mystery man". "On lockdown with this mystery man #quarantine (sic)", she captioned the post.

 
 
 
View this post on Instagram

A post shared by Shibani Dandekar (@shibanidandekar) onApr 18, 2020 at 4:14am PDT

Farhan too shared a video of Shibani enjoying with his dog Tyson. Shibani is trying to scare Tyson by constantly making noises but to no avail. And as soon as Tyson does the same, she gets scared and shocked and bursts out laughing out of fear and panic.

 
 
 
View this post on Instagram

Every action has an equal and opposite reaction 😂😂😂 #tystagram @shibanidandekar

A post shared by Farhan Akhtar (@faroutakhtar) onApr 8, 2020 at 5:51am PDT

The Zindagi Milegi Na Dobara actor started dating Dandekar almost a year-and-a-half ago. Later, they started sharing each other's photos on their social media accounts. Farhan was earlier married to Adhuna Bhabani, with whom he has two daughters - Shakya and Akira. Shibani Dandekar is a model-turned-VJ and has participated in reality shows such as Khatron Ke Khiladi and Jhalak Dikhla Ja.

On the work front, Farhan was last seen in Shonali Bose's The Sky Is Pink, co-starring Priyanka Chopra, Zaira Wasim, and Rohit Saraf. The film opened to a positive response from critics but underperformed at the box office. He will next star in Rakeysh Omprakash Mehra's Toofan, a boxing drama releasing on October 2, 2020.

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Photos, videos of Akash Ambani-Shloka Mehta's 'mala-mehendi' ceremony

Akash Ambani and Shloka Mehta's 'mala and mehendi' function in Mumbai was a fun event that had dance, music. Since the families have urged guests to let the private events remain as private as possible, the social networking world gave just a glimpse into Thursday's celebrations at the Dome, NSCI, Worli.

One video doing the rounds with the wedding's hashtag #AkuStoleTheShlo shows the bride's family dancing away on a fancy stage to "Iski uski" from "2 States". The stage was quite elaborately decorated according to the images that surfaced on social media.

 
 
 
View this post on Instagram

Glimpses of the decor last night for the #Mala&Mehndi of #AkashAndShloka at NSCI Dome ! âÂœ¨

A post shared by Akash Ambani Weds Shloka Mehta (@akashwedsshloka) onMar 7, 2019 at 10:10pm PST

Pre-wedding celebrations have been on in full swing at the Ambani and Mehta houses. Akash is the son of Reliance Industries Chairman and Managing Director Mukesh Ambani, while Shloka is the youngest daughter of diamond merchant Russell Mehta. There is huge interest in the wedding, especially after the scale at which the industrialist's daughter Isha got married last year.

A dandiya night in Mumbai was followed by a three-day star-studded celebration for Akash and Shloka in St. Moritz, Switzerland, last month. Functions have been on in Mumbai since the beginning of March.

They reportedly had a Harry Potter-themed party where Guru Randhawa took the stage, as well as a musical night concert with Shreya Ghoshal behind the mic. An 'Anna Sewa' was also organised on Wednesday night at the Jio World Centre, which is the venue for all three forthcoming functions.

After the wedding on March 9 is a celebration on March 10, followed by a reception on March 11. The main galas are likely to attend to be attended by a slew of guests from the Bollywood, political and sports world.

Check out the photos and videos here...

 
 
 
View this post on Instagram

First glimpse of how grand the “Mala & Mehendi” function of Akash Ambani & Shloka Mehta is! ♥ï¸Â Love it. Also, zoom into the first picture as much as you can, because, the bride to be, Shloka is sitting right there in the centre! 😍🤩 . Follow @akustoletheshlo for all the latest updates about the Ambani Wedding. ðŸ¤Â— . . #AkashAmbani #ShlokaMehta #AkuStoleTheShlo #MukeshAmbani #NitaAmbani #IshaAmbani #AnandPiramal #KokilaBenAmbani #AnantAmbani #RadhikaMerchant #AmbaniWedding #India #Celebrations #IndianWedding #AkashShloka #AkaShloka #RoyalWedding #BigFatIndianWedding #Mehendi #MehendiNight #WeddingRituals #BrideToBe

A post shared by Akash Ambani 💍 Shloka Mehta (@akustoletheshlo) onMar 7, 2019 at 6:10am PST

 
 
 
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Shloka Mehta’s Mala & Mehndi to take place today at NSCI Dome 5.15 pm onwards!

A post shared by Akash Ambani Weds Shloka Mehta (@akashwedsshloka) onMar 7, 2019 at 4:50am PST

Ahead of the wedding of his son, industrialist Mukesh Ambani has sent boxes containing sweets to the around 50,000 police personnel in the metropolis. Every police station in Mumbai is receiving the boxes from the family of the Reliance Industries chairman, whose son Akash Ambani is getting married here on March 9, an official said.

The boxes are accompanied by a small card carrying the names of Mukesh Ambani, his wife Nita and their children and messages seeking blessings and good wishes, said a police constable, who recently received one such box. "I got the box of sweets from police station and came to know it has been sent by Ambani's family on the occasion of his son's wedding," he said.

Also Read: Akash Ambani-Shloka Mehta wedding: Here's all that you need to know

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Disclaimer: The article has been sourced from third-party source and mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability, and data of the text. All information provided on this article is for informational purposes only





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Neetu Kapoor thanks Mukesh and Nita Ambani, says, 'You've been our guardian angels'

Rishi Kapoor, the original chocolate hero of Hindi cinema, passed away on April 30, 2020, leaving behind a massive feeling of loss and sorrow in the heart of every Indian. The veteran actor had fans across the world, and was hugely admired for his acting prowess and his charm.

The Chandni actor had been battling cancer for over two years and was in New York for the better part of a year seeking treatment for it. He and wife, veteran actress Neetu Kapoor, returned to India in September 2019, and on April 30, 2020, Rishi Kapoor breathed his last in a hospital in Mumbai.

Now, a few days after his passing, Neetu Kapoor has taken to Instagram to thank Mukesh and Nita Ambani, who gave the Kapoors their utmost support and love during their difficult time. Sharing a photo of them together, Neetu wrote, "From ensuring he was medically attended to, to making frequent, personal visits to the hospital to shower him with love and attention, to even holding our hand and comforting us when WE were scared. To Mukesh Bhai, Nita Bhabhi, Akash, Shloka, Anant and Isha - you have been our guardian angels on this long and trying experience - what we feel for you can not be measured..."

Read the full note here:

 
 
 
View this post on Instagram

For us, as a family, the last two years have been a long journey There were good days, there were a couple of bad days too.. needless to say it was full of high emotion. But it’s a journey we would not have been been able to complete without the immeasurable love and support of the Ambani family. As we’ve gathered our thoughts over the past few days we’ve also tried to find the words to express the gratitude we feel towards the family for the countless ways in which they have seen us safely through this time. Over the last seven months every member of the family has gone above and beyond in every way possible to care for our beloved Rishi and ensure he experienced as little discomfort as possible. From ensuring he was medically attended to, to making frequent, personal visits to the hospital to shower him with love and attention, to even holding our hand and comforting us when WE were scared. To Mukesh Bhai , Nita Bhabhi, Akash, Shloka, Anant and Isha - you have been our guardian angels on this long and trying experience - what we feel for you can not be measured. We thank you from the bottom of our hearts for your selfless, unending support and attention. We feel truly blessed to count you among our nearest and dearest. Sincerely and with utmost gratitude, Neetu, Riddhima, Ranbir and the entire Kapoor Family.🙏💕

A post shared by neetu Kapoor. Fightingfyt (@neetu54) onMay 4, 2020 at 9:05pm PDT

The Ambanis and Kapoors are closest of friends, and Neetu Kapoor showed utter strength and affection in expressing her gratitude towards them through this post.

In fact, Neetu Kapoor had shared another post in which she thanked the medical staff at Mumbai's HN Reliance Hospital who cared for Rishi Kapoor as their own. 

A comment on this post expresses what we think about Neetu Kapoor at this moment: "Gratitude even in grief. You are pure class and grace. And we all are with you, hamesha," wrote an Instagram user.

Neetu Kapoor has proved once again that a spirit of gratitude goes a long way in making friends and keeping them for life!

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Bani J brings the sea to her; as she can't go to the beach due to lockdown

She can't go to the beach, so Bani J did the next best thing. The VJ has coloured her tresses ocean blue with a streak of sea green and a hint of lavender. The Four More Shots Please actor couldn't just post a plain photograph as it 'did not feel creatively satisfying'.

She shared her new look on Insta and captioned it, "The picture has morphed into a supremely intense mixed media project. I always get to know myself better through this process. I realise again how much I like minute details. How there must be meaning hidden or obvious. I like layers. I like shadows, I love depth. Can't have a flat image (sic)."

 
 
 
View this post on Instagram

A post shared by âš¡Lady RocknRolla ♥ (@banij) onApr 27, 2020 at 4:13am PDT

The reason Bani turned her new hairdo into a 'work of art' was because "when I look back a few months down the line, I will always see more. One of the many great wonderful things about life (sic)." The details are what draw Bani in.

On the professional front, Bani Judge was last seen playing a homosexual character in Four More Shots Please! The second season of the series launched on April 17 on Amazon Prime Video in India.

The story picked up from the previous season's cliffhanger ending, bringing backstories of four unapologetically flawed ladies who live, love, blunder and discover what it really takes to build everlasting friendships in Mumbai.

Produced by Pritish Nandy Communications Ltd, the show is created by Rangita Pritish Nandy.

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With net worth of USD 44 billion, Mukesh Ambani top Indian in Forbes world billionaires' list

Reliance Industries' Chairman Mukesh Ambani has been ranked 17th in the latest world billionaires list by Forbes with a net worth of $44.3 billion – once again leading the tally from India's perspective.

Mukesh Ambani chairs and runs $88 billion (revenue) oil and gas giant Reliance Industries, among India's most valuable companies. Reliance Jio has signed on more than 340 million customers by offering free domestic voice calls, dirt-cheap data services, and virtually free smartphones, said the report.

The next Indian on the 34th annual list -- veteran Mumbai investor Radhakishan Damani who is touted as India's retail king after the March 2017 IPO of his supermarket chain DMart – is at a distant 65th position with a net worth of $16.6 billion.

Damani got into retailing in 2002 with one store in suburban Mumbai and has been unstoppable since. His property portfolio includes the 156-room Radisson Blu Resort in Alibag and a popular beach-front getaway close to Mumbai, according to the report.

At 114th position, HCL Technologies Founder Shiv Nadar is worth $12.4 billion. One of India's leading philanthropists, Nadar has donated $662 million to his Shiv Nadar Foundation.

While Hinduja brothers are at 116th position with $12.2 billion net worth. Srichand and Gopichand live in London and Prakash resides in Monaco while the youngest sibling Ashok oversees their Indian interests from Mumbai. At 138th position, Uday Kotak is worth $10.7 billion. His Kotak Mahindra Bank is now among India's top four banks in the private sector, boosted by its 2014 acquisition of ING Bank's Indian operations.

In January this year, the bank reached an agreement with the Reserve Bank of India over the issue of reducing Kotak's stake in the bank to 26 per cent. Telecom tycoon Sunil Mittal is at 154th position with $9.5 billion net worth. Bharti Airtel today is among India's largest mobile phone operators with more than 418 million customers.

Others in the latest list are Cyrus Poonawalla who is founder of Serum Institute of India (at 161th position with $9.2 billion net worth), Gautam Adani at 162th position with $9.2 billion net worth and steel tycoon Lakshmi Mittal with $8.9 billion net worth at 170th spot, among others.

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Mukesh Ambani's fake Twitter account gains thousands of followers in days

A fake account of Mukesh Ambani on Twitter has gained thousands of followers in a matter of days. Here's how we spotted the fake account.




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From Ambani to Jeff Bezos: 9 most ridiculous things owned by world's top billionaires

From Mukesh Ambani's Antilla to Roman Abramovich's Eclipse yacht, check out the nine most ridiculous things owned by the world's top billionaires.




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Albania signs the Convention on Mutual Administrative Assistance in Tax Matters

Albania has become the 43rd country to sign the Convention on Mutual Administrative Assistance in Tax Matters.




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Albania signs landmark agreement to strengthen its tax treaties

Today, Albania signed the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (the Convention), becoming the 88th jurisdiction to join the Convention, which now covers almost 1,530 bilateral tax treaties.




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The Global Forum and Italy support Albania in the implementation of automatic exchange of tax information

The Global Forum and the Italian Revenue Agency carried out an onsite visit in Tirana to assist Albania with the implementation of the international standard of automatic exchange of financial account information (AEOI).




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Urbanisation and Household Consumption in China

This paper focusses on the link between urbanisation and consumption behaviour in China.




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Policies for inclusive urbanisation in China

Urbanisation in China has long been held back by various restrictions on land and internal migration but has taken off since the 1990s, as these impediments started to be gradually relaxed. People have moved in large numbers to richer cities, where productivity is higher and has increased further thanks to agglomeration effects.




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The Metropolitan Century - Understanding Urbanisation and its Consequences

The world is experiencing a wave of urbanisation that has the potential to greatly benefit residents, countries and the planet at large. This report analyses the secrets of successful cities and the policies that contribute to their success.




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Urbanisation and Complex Systems - Insights blog

OECD Insights blog on how new sources of urban data and urban scaling phenomenon can inform planners and urban developers.




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Africa's Urbanisation Dynamics 2020

Africa is projected to have the fastest urban growth rate in the world: by 2050, Africa’s cities will be home to an additional 950 million people. Much of this growth is taking place in small and medium-sized towns. Africa’s urban transition offers great opportunities but it also presents major challenges.




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Spain Exports to Albania

Exports to Albania in Spain increased to 4080.96 EUR THO in February from 3848.89 EUR THO in January of 2020. Exports to Albania in Spain averaged 7890.35 EUR THO from 2014 until 2020, reaching an all time high of 32390.84 EUR THO in August of 2018 and a record low of 2364.30 EUR THO in January of 2015. This page includes a chart with historical data for Spain Exports to Albania.




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Albania Consumer Confidence Price Trends

Consumer Confidence Price Trends in Albania increased to -9.26 in the fourth quarter of 2017 from -19.59 in the third quarter of 2017. Consumer Confidence Price Trends in Albania averaged 6.23 from 2005 until 2017, reaching an all time high of 34.83 in the third quarter of 2007 and a record low of -25.75 in the second quarter of 2017. This page includes a chart with historical data for Albania Consumer Confidence Price Trends.




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Albania Consumer Confidence Current Conditions

Consumer Confidence Current Conditions in Albania decreased to -8.46 in the fourth quarter of 2017 from -5.82 in the third quarter of 2017. Consumer Confidence Current Conditions in Albania averaged -11.68 from 2003 until 2017, reaching an all time high of 12.68 in the second quarter of 2014 and a record low of -25.15 in the first quarter of 2004. This page includes a chart with historical data for Albania Consumer Confidence Current Conditions.




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Albania Consumer Confidence Savings Expectations

Consumer Confidence Savings Expectations in Albania decreased to -37.88 in the fourth quarter of 2017 from -35.07 in the third quarter of 2017. Consumer Confidence Savings Expectations in Albania averaged -42.75 from 2003 until 2017, reaching an all time high of -25.79 in the second quarter of 2015 and a record low of -57.85 in the fourth quarter of 2003. This page includes a chart with historical data for Albania Consumer Confidence Savings Expectations.




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Albania Consumer Confidence Unemployment Expectations

Consumer Confidence Unemployment Expectations in Albania increased to 2.49 in the fourth quarter of 2017 from -5.77 in the third quarter of 2017. Consumer Confidence Unemployment Expectations in Albania averaged 9.86 from 2003 until 2017, reaching an all time high of 27.19 in the fourth quarter of 2004 and a record low of -8.52 in the second quarter of 2017. This page includes a chart with historical data for Albania Consumer Confidence Unemployment Expectations.




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Albania Personal Income Tax Rate

The Personal Income Tax Rate in Albania stands at 23 percent. Personal Income Tax Rate in Albania averaged 18 percent from 2004 until 2018, reaching an all time high of 25 percent in 2005 and a record low of 10 percent in 2008. In Albania, the Personal Income Tax Rate is a tax collected from individuals and is imposed on different sources of income like labour, pensions, interest and dividends. The benchmark we use refers to the Top Marginal Tax Rate for individuals. Revenues from the Personal Income Tax Rate are an important source of income for the government of Albania. This page provides - Albania Personal Income Tax Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.




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Albania Retirement Age - Men

Retirement Age Men in Albania remained unchanged at 65 in 2018 from 65 in 2017. Retirement Age Men in Albania averaged 60.87 from 1993 until 2018, reaching an all time high of 65 in 2013 and a record low of 55 in 1994. This page provides - Albania Retirement Age Men - actual values, historical data, forecast, chart, statistics, economic calendar and news.




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Albania Retirement Age - Women

Retirement Age Women in Albania increased to 60.67 in 2018 from 60.50 in 2017. Retirement Age Women in Albania averaged 55.93 from 1993 until 2018, reaching an all time high of 60.67 in 2018 and a record low of 50 in 1994. This page provides - Albania Retirement Age Women - actual values, historical data, forecast, chart, statistics, economic calendar and news.




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Albania Minimum Monthly Wage

Minimum Wages in Albania remained unchanged at 26000 ALL/Month in the fourth quarter of 2019 from 26000 ALL/Month in the third quarter of 2019. Minimum Wages in Albania averaged 14716.77 ALL/Month from 1993 until 2019, reaching an all time high of 26000 ALL/Month in the first quarter of 2019 and a record low of 1200 ALL/Month in the fourth quarter of 1993. This page provides - Albania Minimum Wages - actual values, historical data, forecast, chart, statistics, economic calendar and news.




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Albania Current Account to GDP

Albania recorded a Current Account deficit of 6.30 percent of the country's Gross Domestic Product in 2018. Current Account to GDP in Albania averaged -5.61 percent from 1980 until 2018, reaching an all time high of 2.24 percent in 1999 and a record low of -15.70 percent in 2008. The Current account balance as a percent of GDP provides an indication on the level of international competitiveness of a country. Usually, countries recording a strong current account surplus have an economy heavily dependent on exports revenues, with high savings ratings but weak domestic demand. On the other hand, countries recording a current account deficit have strong imports, a low saving rates and high personal consumption rates as a percentage of disposable incomes. This page provides - Albania Current Account to GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.




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Albania Government Debt to GDP

Albania recorded a government debt equivalent to 63.63 percent of the country's Gross Domestic Product in 2018. Government Debt to GDP in Albania averaged 64.19 percent from 1997 until 2018, reaching an all time high of 84.60 percent in 1997 and a record low of 53.55 percent in 2007. Generally, Government debt as a percent of GDP is used by investors to measure a country ability to make future payments on its debt, thus affecting the country borrowing costs and government bond yields. This page provides - Albania Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.




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Albania Military Expenditure

Military Expenditure in Albania increased to 160 USD Million in 2018 from 144 USD Million in 2017. Military Expenditure in Albania averaged 144.14 USD Million from 1989 until 2018, reaching an all time high of 254 USD Million in 1990 and a record low of 66.30 USD Million in 1998.




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Albania Changes in Inventories

The stocks of goods held by firms in Albania increased by 128787 ALL Million in 2016. Changes in Inventories in Albania averaged 15791.29 ALL Million from 1996 until 2016, reaching an all time high of 192706.26 ALL Million in 2015 and a record low of -38881.50 ALL Million in 2003. In Albania, changes in inventories are often a leading indicator for the overall performance of the economy. This page provides - Albania Changes in Inventories - actual values, historical data, forecast, chart, statistics, economic calendar and news.




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Albania Social Security Rate

The Social Security Rate in Albania stands at 24.50 percent. Social Security Rate in Albania averaged 26.93 percent from 2012 until 2018, reaching an all time high of 27.90 percent in 2013 and a record low of 24.50 percent in 2017. In Albania, the Social Security Rate is a tax related with labor income charged to both companies and employees. Revenues from the Social Security Rate are an important source of income for the government of Albania because they help to pay for many social programs including welfare, health care and many other benefits. This page provides - Albania Social Security Rate- actual values, historical data, forecast, chart, statistics, economic calendar and news.




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Albania Social Security Rate For Companies

The Social Security Rate For Companies in Albania stands at 15 percent. Social Security Rate For Companies in Albania averaged 16.24 percent from 2009 until 2019, reaching an all time high of 16.70 percent in 2010 and a record low of 15 percent in 2017. In Albania, the Social Security Rate is a tax related with labor income charged to both companies and employees. Revenues from the Social Security Rate are an important source of income for the government of Albania because they help to pay for many social programs including welfare, health care and many other benefits. This page provides - Albania Social Security Rate For Companies- actual values, historical data, forecast, chart, statistics, economic calendar and news.




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Albania Social Security Rate For Employees

The Social Security Rate For Employees in Albania stands at 9.50 percent. Social Security Rate For Employees in Albania averaged 10.74 percent from 2009 until 2019, reaching an all time high of 11.20 percent in 2010 and a record low of 9.50 percent in 2017. In Albania, the Social Security Rate is a tax related with labor income charged to both companies and employees. Revenues from the Social Security Rate are an important source of income for the government of Albania because they help to pay for many social programs including welfare, health care and many other benefits. This page provides - Albania Social Security Rate For Employees- actual values, historical data, forecast, chart, statistics, economic calendar and news.




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Albania GDP per capita

The Gross Domestic Product per capita in Albania was last recorded at 5075.40 US dollars in 2018. The GDP per Capita in Albania is equivalent to 40 percent of the world's average. GDP per capita in Albania averaged 2758.08 USD from 1980 until 2018, reaching an all time high of 5075.40 USD in 2018 and a record low of 1243.60 USD in 1992. The GDP per capita is obtained by dividing the country’s gross domestic product, adjusted by inflation, by the total population. This page provides the latest reported value for - Albania GDP per capita - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.




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Albania GDP per capita PPP

The Gross Domestic Product per capita in Albania was last recorded at 12306.30 US dollars in 2018, when adjusted by purchasing power parity (PPP). The GDP per Capita, in Albania, when adjusted by Purchasing Power Parity is equivalent to 69 percent of the world's average. GDP per capita PPP in Albania averaged 7301.03 USD from 1990 until 2018, reaching an all time high of 12306.30 USD in 2018 and a record low of 3015.40 USD in 1992. The GDP per capita PPP is obtained by dividing the country’s gross domestic product, adjusted by purchasing power parity, by the total population. This page provides - Albania GDP per capita PPP - actual values, historical data, forecast, chart, statistics, economic calendar and news.




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Albania Competitiveness Index

Albania scored 57.61 points out of 100 on the 2018 Global Competitiveness Report published by the World Economic Forum. Competitiveness Index in Albania averaged 16.22 Points from 2007 until 2019, reaching an all time high of 58.10 Points in 2018 and a record low of 3.48 Points in 2008. The most recent 2018 edition of Global Competitiveness Report assesses 140 economies. The report is made up of 98 variables, from a combination of data from international organizations as well as from the World Economic Forum’s Executive Opinion Survey. The variables are organized into twelve pillars with the most important including: institutions; infrastructure; ICT adoption; macroeconomic stability; health; skills; product market; labour market; financial system; market size; business dynamism; and innovation capability. The GCI varies between 1 and 100, higher average score means higher degree of competitiveness. With the 2018 edition, the World Economic Forum introduced a new methodology, aiming to integrate the notion of the 4th Industrial Revolution into the definition of competitiveness. It emphasizes the role of human capital, innovation, resilience and agility, as not only drivers but also defining features of economic success in the 4th Industrial Revolution. This page provides the latest reported value for - Albania Competitiveness Index - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.




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Albania Competitiveness Rank

Albania is the 81 most competitive nation in the world out of 140 countries ranked in the 2018 edition of the Global Competitiveness Report published by the World Economic Forum. Competitiveness Rank in Albania averaged 91.38 from 2007 until 2019, reaching an all time high of 109 in 2008 and a record low of 76 in 2018. The most recent 2018 edition of Global Competitiveness Report assesses 140 economies. In 2018, the World Economic Forum introduced a new methodology emphasizing the role of human capital, innovation, resilience and agility, as not only drivers but also defining features of economic success in the 4th Industrial Revolution. As a result, the GCI scale changed to 1 to 100 from 1 to 7, with higher average score meaning higher degree of competitiveness. The report is made up of 98 variables organized into twelve pillars with the most important including: institutions; infrastructure; ICT adoption; macroeconomic stability; health; skills; product market; labour market; financial system; market size; business dynamism; and innovation capability. This page provides the latest reported value for - Albania Competitiveness Rank - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.