Tokyo topped as costliest city

Singapore leapt five spots to top a global ranking of the most expensive cities as a stronger currency and price increases made it costlier to live in the island nation, according to the Economist Intelligence Unit (EIU). The republic beat Paris, Oslo, Zurich and Sydney, while Tokyo moved down to sixth position from first previously after the yen slid, the EIU’s latest Worldwide Cost of Living Survey released yesterday showed. The bi-annual report compares the price of products and services such as food, clothing, transport, private schools and domestic help between 131 cities. – Bloomberg


Millionaire club to grow by half

Nigerian millionaires will increase in number by almost 47 percent over the next four years as higher house and stock prices in the west African nation complement a booming economy, according to New World Wealth. The number of people in Africa’s top oil producer with investable assets of at least $1 million (R10.8m) will jump to 23 000 by 2017, after increasing by 44 percent over the past six years to 15 700 last year. – Bloomberg