Davos

Russia's blockade of Ukraine's ports is a “declaration of war” that threatens to trigger mass migration and a global food crisis, a United Nations official ...

Business leaders gathering in the Swiss ski town were eager to address the issue of rising prices which are posing a threat to their businesses and ...

But sky-high levels of inflation, or the rise in the cost of living, have pushed officials to make a move. Back in Frankfurt, the European Central Bank (ECB) finally started to show the extent of its own concern. When asked whether she expected a recession for the world's major economies, she said: 'No, not at this point. If there was, he said, it would likely be mild. Isa rules & T&Cs apply. Inflation battle: Business leaders gathering in the Swiss ski town of Davos were eager to address the issue of rising prices which are posing a threat to their businesses and citizens

World leaders are descending on the Swiss mountain resort for the WEF's belated annual meeting. Here's what the 2022 event is likely to have in store.

Participants, delegates and media all have to provide evidence of vaccination, a negative PCR prior to arrival and a second COVID-19 test on site. The war in Ukraine means that Davos will look a little different this year. "Mr Putin started the war and he can end it," Brende said. Here in Davos, though, coronavirus is a palpable presence. Ukrainian delegates will feature heavily in the event's programming this year, with President Volodymyr Zelenskyy set to address the event via a livestream on Monday. Mayor of Kyiv, Vitali Klitschko, is also expected to be in Davos in person. "Davos will be different, but not mainly because of the lack of snow but because of lack of global co-operation to solve these most pressing challenges," Børge Brende, President of the WEF, said in a pre-event briefing.

This year's Davos Forum is without the twin pillars of US finance - Jamie Dimon of JP Morgan and the world's biggest investor Larry Fink of Blackrock.

The US has re-shored some production from China, and so on. Germany is looking to the near East for energy supplies. But the notion that the world's most global companies, from Unilever to Volkswagen, are pulling up the drawbridge on global trade is fantasy. Are the Davos elite finally getting the message? Isa rules & T&Cs apply. What undoubtedly is true is that the two great bursts of economic growth of modern times – the jump in world trade in the period from the 1870s to the First World War, and the opening of the World Trade Organisation to China this century – were great generators of growth.

Stablecoins are unstable. Cryptocurrencies don't act like currency. Does digital money ever stand a chance of winning the establishment's embrace?

Sethaput Suthiwartnarueput, a governor with the Bank of Thailand, said that Thailand has been experimenting in the world of digital currencies. That said, Georgieva noted that digital money can be a "global public good" that can help people send remittances across borders. Someone must be responsible for the value and it must be accepted universally as a means of exchange.

The world is at "a turning point," Ukrainian president Volodymyr Zelensky warned in Davos — urging Western countries to impose "maximum sanctions" on ...

"If so, there is no need for further meetings in Davos". In his speech, Zelensky called on all companies to leave Russia in order to set a "precedent". These companies will have access "not only to a market of 40 million consumers [Ukraine] but also to the EU common market," he said. Meanwhile, calls to set up a recovery programme for Ukraine in the style of the post-WW2 Marshall plan have increased in recent weeks. Addressing the forum via videolink, he compared the historic events that took place before the two world wars — Sarajevo in 1914 and Munich in 1938 — to the current war in Ukraine, pointing out that the world is at "a turning point". "Maximum sanctions" are the only way to show Russia, or any other country waging a brutal war against its neighbour, the "immediate consequences" of their actions, Zelensky said in an address to the conference. Ukrainian president Volodymyr Zelensky on Monday (23 May) called on world leaders to impose "maximum sanctions" on Russia in response to the invasion of Ukraine.

DAVOS, Switzerland — Ukrainian President Volodymyr Zelenskyy on Monday urged the global community to impose further sanctions on Russia, as he accused the ...

”Peace and justice are two sides of the same coin,” she said. If we had received sanctions, at once, back in February the result would be tens of thousands of lives saved,” he added. “Sanctions should be preventative; not just imposed as a response,” he said, contending that if the full range of measures had been applied against Russia, it would have prevented war.

Volodymyr Zelenskyy, President of Ukraine, spoke on the opening day of Davos 2022, setting the agenda for leaders to come together to help his country.

The Global Future Council on the New Agenda for Fragility and Resilience provides guidance to humanitarian and development actors as well as the private sector to improve support to local actors and facilitate responses that strengthen community resilience. This has been evidenced by the COVID-19 pandemic, numerous climate emergencies as well as the war in Ukraine and the ensuing refugee crisis. He said the plight of Ukraine is a broader concern for world freedom. Zelenskyy's special address at Davos 2022 also called on countries to help reconstruct the country after the war, via 'United 24' - a fund set up to rebuild the country. As leaders gather this week to address the world's toughest challenges, the war in Ukraine is front and centre. He warned, “If the values of freedom are lost - everyone loses”.

Cryptocurrencies have taken a prominent role at the World Economic Forum's annual meeting in Davos, despite the mainstream finance world's apparent contempt ...

Post Executive Editor Sally Buzbee and Economics Correspondent Abha Bhattarai will moderate panel discussions at the 2022 World Economic Forum Annual ...

The conversations will be livestreamed on The Post’s website. Washington Post Executive Editor Sally Buzbee and Economics Correspondent Abha Bhattarai will moderate panel discussions at the 2022 World Economic Forum Annual Conference in Davos, Switzerland. The Forum convenes global news leaders across sectors for in-depth, of-the-moment conversations that explore elements of the global economy and look ahead at what’s to come. Monday, May 23 at 11:30am ET (17:30 CEST), “Strategic Outlook: The Future of Global Operations:” Buzbee will moderate a discussion on the importance of the manufacturing sector to the global economy and society, featuring Blake Moret, Chairman and Chief Executive Officer, Rockwell Automation Inc.; Frans van Houten, Chief Executive Officer, Co-Chair PACE, Royal Philips; and Amitabh Kant, Chief Executive Officer, National Institution for Transforming India (NITI) Aayog. Read more about the session here.

The World Economic Forum (WEF) at Davos is pitched as a place whereby political will and entrepreneurial insight from business and finance leaders are fused ...

And Gavi, a global vaccine alliance established at the forum in 2000, has had major breakthroughs, including the DNA sequencing of more than 12,000 cancer tumours, as well as providing 900 million vaccines to children worldwide. “There are two reasons to get involved in solutions to the world’s problems; the first is trying to find genuine solutions, and the second is getting involved to block the ‘wrong’ ones.” It emerged from the WEF in 2011 thanks to economists Joseph Stiglitz, Nicholas Stern and former Ethiopian Prime Minister Meles Zenawi. So far, it has secured $29.3bn for a total of 78 projects as at Q1 2022. With the ubiquitous awareness about climate change – heightened in the wake of the Covid-19 pandemic – and rising wealth inequality around the world, there are some vast issues for the delegates to tackle. To coincide with Davos, Oxfam has released a report revealing that as food and energy prices have risen to their highest levels in decades, billionnaires in these sectors have seen their fortunes rise by $453bn (£359bn) in the past two years – equivalent to more than $1bn every two days. And while the gathering has led to tangible examples of progress – including development banks and vaccine programs – its critics would point to what it hasn’t achieved in spite of its supposed attempts to do so.

Good morning from the Financial Times. Today is Tuesday, May 24th, and this is your FT News Briefing. [MUSIC PLAYING]. The global economic elite are in ...

Jess Smith But can you talk about what a Toshiba sale would mean for Japan’s corporate culture? Jess Smith Jess Smith Jess Smith Jess Smith Jess Smith Jess Smith Jess Smith He also wants frozen Russian assets to be used as compensation for victims of the war. Jess Smith Jess Smith

Ursula Von Der Leyen, president of the European Commission, and Jens Stoltenberg, Secretary-General of NATO, are both giving keynote speeches today, in another ...

4.30pm Davos (3.30pm BST): Securing Europe, with Andriy Yermak, Head of the Presidential Administration of Ukraine, Belgium’s prime minister Alexander De Croo, Prime Minister of Belgium, Stevo Pendarovski, President of North Macedonia, Kajsa Ollongren, Minister of Defence of the Netherlands, Jens Stoltenberg Secretary-General of NATO 5.30pm Davos (4.30pm BST): Preparing for next pandemic, including Bill Gates, Peter Sands, executive director of The Global Fund To Fight Aids, Tuberculosis & Malaria, Francis deSouza, CEO of Illumina, Helen E. Clark of WHO, Paul Kagame, President of Rwanda 11am Davos (10am BST): Special address by Ursula Von Der Leyen, president of the European Commission 11.45am Davos (10.45am BST): Speeding up road to net zero with Fatih Birol of IEA, John Kerry, Catherine MacGregor, Frans Timmermans. 10am Davos (9am BST): Special address by Spanish PM Pedro Sanchez 8.45am Davos (7.45am BST): Reimagining the global tax system, with Gabriela Bucher of Oxfam, Stefanie Stantcheva, Professor of Economics at Harvard University, Mathias Cormann of the OECD

Financiers and CEOs are no longer the masters of the universe as nationalism and militarism take over.

NATO chief Jens Stoltenberg follows shortly after, while European Central Bank President Christine Lagarde will be speaking at a dinner with several European ...

The company has already begun exploring its options for making its logistics routes low carbon, by introducing Chile’s first high-tonnage electric truck to be used in large-scale mining, which could eliminate approximately 3.840 tons of CO2 per year. One to watch: “ Preparing for the Next Pandemic” with Bill Gates (who, we’re told, ironically, had to delay his arrival in Davos having contracted COVID). It’s on at 5:30 p.m. SQM is also committed to high social and environmental performance and is the second lithium mining globally company that started an independent third-party audit against the Initiative for Responsible Mining Assurance (IRMA) Standard. Read more here.** Our reviews (and the photos) are in: Naming and shaming: SAP, a German multinational that specializes in cloud services and database tech, is “still continuing to work in Russia and to pay taxes to help finance the Russian army,”Fedorov said, noting that lots of banks and banking activities use its products. Gone were the queues and heavy security, though Bank of America and others held a smattering of receptions which offered lots of the old-school Davos schmoozing. WHAT TO WATCH: The World Economic Forum is now in full swing, with most of the big-hitters in town. Looks like the days of canny locals flogging their home for weekly rates in the tens of thousands may be over. Don’t bite: Cardamom and saffron ice cream may sound enticing, but the details don’t gel. On the other hand, holding two major events in Davos would be a money-spinner, and there will be demand from this year’s May crowd. President Andrzej Duda is among the panelists on this morning’s “Geopolitical Outlook” session, while Prime Minister Mateusz Morawiecki is also due in town. Here’s more from the Wall Street Journal on this year’s wardrobe challenges.

As government officials, corporate leaders and other elites at the World Economic Forum grapple with how to confront climate change and its devastating ...

However, it’s becoming more and more difficult to do that because of the fact that we are getting a lot of headwinds,” she said. A partnership between the U.S. government, World Economic Forum and several industries is working to bridge that gap. At the same time, for the companies, that include behemoths like Amazon and Apple, it made long-term business sense. “The immediate response should include more oil and gas to the market. “The U.S. can provide ample resources to the rest of the world. “Some people may use the invasion of Ukraine as an excuse for fossil fuel investments.

Amid a pandemic and a cost of living crisis, the people have no patience for the virtue signalling of the Davos set.

And they have no patience left for governments and international institutions that are acting to protect the interests of the richest and the most powerful. The people have no patience for the speeches or meaningless policy proposals that will be produced in Davos this week. It was not hard to see that the billionaire businessman was nervous about the possibility of the next US budget including a new “billionaire’s tax” that would see him pay an extra $35bn in taxes. Why are we expected to bear the pain of increasing food and fuel prices? It is clear that the British public would rather have their leaders tax the companies benefitting from the growing cost of living crisis than waste time discussing inequality and sustainability with CEOs actively deepening that inequality in Switzerland. But the richest few, who continued to increase their wealth in the past two years, are still benefitting from the crisis.

A high-level panel of climate leaders, including US and Chinese Special Envoys John Kerry and Xie Zhenhua, joined World Economic Forum president Børge ...

Offering a glimmer of hope, Kerry noted that meeting climate targets is still possible, but only through collective action: "The reality is that 20 countries are responsible for 80% of emissions. The current global food system can reasonably feed 3 billion people, 3 billion more struggle to feed themselves, while up to 1 billion faces real undernourishment. The war in Ukraine will only exacerbate these terrifyingly high levels of food insecurity." This is the real battle of our time." This includes the Alliance of CEO Climate Leaders, a global network of business leaders from various industries developing cost-effective solutions to transitioning to a low-carbon, climate-resilient economy. The World Economic Forum's Global Risks Report continues to rank these environmental threats at the top of the list.

The fear of recession is stalking the World Economic Forum in Davos. It has been two years since the world's business and political elite have been allowed ...

In the US, demand is booming. Let's say 5050," the CEO of Standard Chartered bank Bill Winters told me. Or are they going to be able to finesse this and generate a soft landing?

The World Economic Forum's annual gathering is resuming for a second day, with business leaders, government officials, representatives from global ...

Start your Independent Premium subscription today. The World Economic Forum’s annual gathering is resuming for a second day, with business leaders, government officials, representatives from global institutions and journalists gearing up for more panel talks and networking at the exclusive meeting in the Swiss Alps. The World Economic Forum’s annual gathering is resuming for a second day, with business leaders, government officials, representatives from global institutions and journalists gearing up for more panel talks and networking at the exclusive meeting in the Swiss Alps

Crypto-related technology companies are out in force at the annual World Economic Forum in Davos. The Promenade, a main strip where companies and ...

The industry's strong showing at Davos comes despite a recent market crash. "It's easier to do business in a bear cycle. We committed to coming here a long time ago but that wasn't going to change. Blockchain came to prominence with bitcoin but its definition has expanded. The day is celebrated every year by the crypto community. - The industry's strong showing at Davos comes despite a recent market crash.

ECB's Christine Lagarde, IMF's Kristalina Georgieva, François Villeroy de Galhau of Bank of France, and Bank of Thailand's Sethaput Suthiwartnarueput have ...

“In order to be a currency somebody must be responsible for the value — nobody is responsible for the value of cryptos. “They are not reliable currencies, they are not a reliable means of payment,” he said. That needs to be checked, supervised, regulated, so that consumers and users of those devices can actually be protected against potential misrepresentation,” she said. “We should call a spade a spade. She added: “Bitcoin may be called a coin, but it’s not money. “When somebody promises you a 20% return on something that is not backed by any assets, what would we normally call this?

Beyond the mandatory coronavirus tests, the mood at the World Economic Forum in Davos, Switzerland, is decidedly somber, weighed heavily by concerns of the ...

But this year, much of that has been scaled down — in part because of global and economic turmoil. and that confidence continues to drop, that to me can become self-fulfilling into recession,” Adena Friedman, chief executive of Nasdaq, said in a panel discussion. “When inflation gets into the system, it takes a while to get in but it takes a lot longer to get out,” David M. Rubenstein, co-founder and co-chairman of the Carlyle Group, said in a panel discussion. “Leaders face difficult choices and trade-offs domestically when it comes to debt, inflation and investment.” The conference, which was held virtually last year and pushed back four months this year, has long been synonymous with wealth, prestige and power, and all that they represent. “If consumer confidence really continues to go south, the markets continue to show a lot of wobbliness and a lack of a foundation... An estimated 657 million people live in extreme poverty, up from 641 million before the pandemic, according to projections from the World Bank. American consumers, who have been spending heavily on big-ticket items, have so far been a bright spot in the economy. After months of solid growth, the U.S. economy unexpectedly shrank early this year, in large part because of a widening trade gap. “It shouldn’t be a great cause for alarm if it’s a mild recession.” “We’ve never had a Davos like this one,” Rich Lesser, global chair of Boston Consulting Group, said in an interview. The U.S. stock market has nosedived in recent weeks over fears of a recession, with the S&P 500, Nasdaq and Dow Jones industrial average all down at least 6 percent in the past month.