Philippines’ richest manSy dies at 94
Manila: The Philippines’ wealthiest man Henry Sy, who rose from being a penniless Chinese immigrant to leading a multi-billion dollar business empire, died on Saturday, his conglomerate has announced. The 94-year-old, from the Chinese city of Xiamen, made his fortune with a Philippine shopping centre conglomerate that has put up some of the largest malls in the world. However his holdings also included banks, hotels and real estate in the Philippines, as well as shopping centres in China. He had a net worth of $19 billion as of Friday, according to Forbes.com. Forbes said he was the 52nd richest person in the world last year, beating out bold name tycoons like Elon Musk, Rupert Murdoch and George Soros. “Henry Sy… passed away peacefully in his sleep early Saturday morning. There are no further details at the moment,” his SM group said in a statement to AFP. Sy put up his first shoe store in downtown Manila in 1956, a business which later grew into a diversified empire. He stepped down as chairman of his holding firm in 2017, assuming the title of “chairman emeritus” and leaving trusted allies as well as his children in charge of his empire. It was a long journey for a man who came to the Philippines as a boy to work in his immigrant father’s variety store. “Our store was so small it had no back or second floor, we just slept on the counter late at night after the store was closed,” he told the Philippine Star newspaper in 2006. After their shop was destroyed during World War II, Sy’s father returned to China but Henry chose to stay in the Philippines. (AFP)
Rio named as World Capital of Architecture
Brasilia: The UN Educational, Scientific, and Cultural Organization (Unesco) has named the Brazilian city of Rio de Janeiro as the World Capital of Architecture for 2020. Having defeated Paris and Melbourne, Rio will be the first city to receive the title under a programme launched together by Unesco and the International Union of Architects (UIA) in November 2018, reports Xinhua news agency. “The World Capital of Architecture initiative underscores the common commitment of UNESCO and the UIA to preserve architectural heritage in the urban context,” Unesco Assistant Director-General for Culture Ernesto Ottone Ramirez said on Friday. According to Unesco, the World Capital of Architecture is intended to become “an international forum for debates about pressing global challenges from the perspectives of culture, cultural heritage, urban planning and architecture”. As one of the oldest cities in Brazil, Rio has a mix of modern and colonial architecture, with world-renowned sites. (IANS)