WEF 2023: Where Is Ukraine Headed?

As the war in Ukraine is inching towards its one-year completion, uncertainty and complexity are mounting. So far, the conflict has killed tens of thousands of military personnel and civilians and forced nearly eight million Ukrainian refugees to flee across Europe.  On the other side, the continuous support of the West to Ukraine and Russia’s solid military power keeps the war at a stalemate. At the World Economic Forum’s Davos Summit, Ukrainian president Volodymyr Zelenskyy appealed to supply more arms and weapons to his war-torn country. Zelenskyy said, “Our collective…

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Davos Summit 2023: Event For Impact Or Stage For Dressing And Talking?

Once again, global political leaders and business tycoons dressed up in fancy clothes arrived in snow-covered Davos to discuss various aspects of the cascading and connected crises that threaten a polycrisis at the World Economic Forum’s (WEFs) annual meeting.  As fear of a possible recession is high along with a global economic slowdown, Davos decked up to host the WEF’s annual jamboree— touted as one of the biggest summits of the year where politics meet business to talk, talk and talk for a few days before departing to their respective…

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“Stay The Course”: Experts Urge Central Bankers To Keep Fighting Inflation

“Stay the course”, said economic experts at the annual summit of the World Economic Forum in Davos as they urged the central bankers to keep fighting inflation, despite signs of improvement. They noted that the signs of declining inflation, resilient consumer spending and strong labour markets, among others, suggest that growth could be rebounding in the short term. During a panel session on the global economic outlook, Kristalina Georgieva, Managing Director, International Monetary Fund (IMF) said, “My message is that it is less bad than we feared a couple of…

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Cooperation needed among multilateral organisations to deal with future outbreaks: Poonawalla, Health News, ET HealthWorld

Davos: Vaccine maker Serum Institute of India CEO Adar Poonawalla has called for global harmonisation or regulatory standards and said that cooperation among multilateral organisations is a must for dealing with future outbreaks. Speaking during the World Economic Forum Annual Meeting 2023, he said he is optimistic about the cooperation. As several leaders here warned against any complacency on the Covid front, Poonawalla said, “We need to keep educating people and dispel vaccine hesitancy”. Serum Institute of India (SII) emerged as one of the largest vaccine makers in the world…

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World Economic Forum: India grabs attention amid global crises; WEF chief calls the country ‘bright spot’ in fragile world, Health News, ET HealthWorld

New Delhi: India shared the limelight on climate action, economic growth and several other matters as the curtains came down on the five-day-long discussions on global issues here on Friday, with WEF chief Klaus Schwab describing the country as a bright spot in the fragile world. Most business and political leaders from India and other countries lauded India’s commitment to climate goals and its return to a growth path after the coronavirus pandemic. All said, there were also some sceptical voices about India’s becoming a global growth engine as they…

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Israeli, Palestinian Business Leaders Commit To Support Palestine’s Economy Amid Conflict

Israeli and Palestinian business leaders at the World Economic Forum Annual Meeting 2023 committed to working together to support Palestinian resilience in the face of increased political uncertainty that threatens the viability of the two-state solution. This comes after thirty years of signing the landmark Oslo Accords between the two countries.  At the meeting, Palestinian and Israeli business leaders released a joint statement reinforcing their commitment to work together to reduce alarming social and economic disparities against a grim political landscape threatening the prospect of the two-state solution. Both countries…

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WTO Chief Calls For Global Carbon Price, Reforms To Tariffs, Red Tape To Clean Supply Chains

A slew of urgent reforms to carbon pricing, import tariffs and regulatory issues are needed to decarbonise supply chains in time for the 2030 goals, said Ngozi Okonjo-Iweala, Director-General, World Trade Organisation (WTO). While addressing the World Economic Forum’s annual meeting, she said because countries tend to impose higher tariffs on relatively clean finished goods, but lower tariffs on often more polluting inputs and intermediates, trade policy skews in favour of dirtier products. She added that this results in an implicit subsidy for CO2 production of USD 550 billion to…

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India Will Be Fastest-growing Among Big Economies Over Next 10-20 Years, Says Expert

Reposing faith in India’s growth prospect, Chief economics commentator at the Financial Times Martin Wolf on Thursday said that India will be the fastest-growing of the big economies over the next 10-20 years. “It underlines a view of how quite a long time but obviously I have followed India for a long time since the 70s and it underlines what I think is a very important point is that over the next 10-20 years, it is overwhelmingly certain that India will be the fastest growing of the big economies and…

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Biggest challenge during pandemic was negotiating politics: Pfizer, Health News, ET HealthWorld

New Delhi: Pfizer‘s chief executive says the biggest challenge the company and other vaccine-makers faced during the pandemic was negotiating the politics. Albert Bourla, who was speaking on Thursday on a panel on pandemic preparedness at the World Economic Forum gathering in Davos, Switzerland, said mask-wearing, vaccine efficacy or questions about delivering the vaccines were all politicised and were constant obstacles for vaccine-makers. He says “the biggest challenge was the political challenge”. He added that protectionism as a result of fear meant the governments closed down borders, making it difficult…

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Davos 2023: Carbon Should Be Priced Properly, Experts Say

Utilising inexpensive fossil fuels has made progress possible, but it has also created an environmental risk that could result in irreparable harm. The countries need to cut carbon emissions somewhere between 25-50 per cent by 2030, firmly stated Kristalina Georgieva, Managing Director, International Monetary Fund (IMF) at World Economic Forum (WEF) 2023.  Bill Winters, Group Chief Executive, Standard Chartered Bank, responded to the damage inflicted by the firms, stating that the decision-making process for every organisation, including banks, would be radically different if they knew they are taxed for what…

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