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The Latest Breaking News from Davos

'Tax us' say over 200 millionaires who back Oxfam's call to redistribute wealth

As the rich, famous and influential meet at the annual World Economic Forum in Davos, Switzerland, aid agency Oxfam says billionaires should be made obsolete. And 200 millionaires agree. In an open letter addressed to world leaders, they say they want to pay more tax "for the common good".

Radio France Internationale

UN chief slams oil firms for 'big lie' on global warming

Davos (Switzerland) (AFP) - UN Secretary-General Antonio Guterres skewered oil firms on Wednesday for having "peddled the big lie" about their role in global warming, telling the World Economic Forum that they should be held accountable.

AFP

Indonesia tells Myanmar to let ‘qualified people’ take charge

DAVOS, Switzerland: An Indonesian senior minister has urged Myanmar’s military to consider stepping back and letting “qualified” leaders govern the country that is in an economic free-fall due to sanctions and worsening civil strife.

Bangkok Post

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Elon Musk claims he skipped Davos because it ‘sounded boring AF’ - but organisers say he wasn’t even invited

The World Economic Forum says billionaire Elon Musk wasn’t on the guest list for the annual meeting of business executives, global leaders and cultural trend-setters in Davos, Switzerland — despite what the Twitter owner claims

The Independent UK

UN head accuses fossil fuel firms of business models ‘inconsistent with human survival’

Criticism at Davos for big companies that, ‘like the tobacco industry’, ride roughshod over their own science

The Guardian - UK

Davos 2023: Greta Thunberg to meet IEA chief Birol

Greta Thunberg is set to meet International Energy Agency (IEA) executive director Fatih Birol in Davos on Thursday, organisers of a fringe round-table event at the World Economic Forum's (WEF) annual meeting told Reuters.

Reuters

At Davos, UN Chief Warns the World is in a 'Sorry State'

The world is in a “sorry state" because of myriad “interlinked” challenges including climate change and Russia's war in Ukraine that are “piling up like cars in a chain reaction crash,” the UN chief said at the World Economic Forum's meeting Wednesday. UN Secretary-General Antonio Guterres delivered his gloomy message…

Asharq Al-Awsat

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At Davos, Saudi Arabia says curbing oil dependency a priority

Davos (Switzerland) (AFP) - Saudi Arabia is working to reduce its reliance on oil exports, Economy Minister Faisal Al-Ibrahim said Wednesday, as the Middle East powerhouse sent one of the largest delegations to the Davos summit to make its case.

AFP

Saudi FM: Global Energy Security Hinges on Geopolitical Stability

Saudi Foreign Minister Prince Faisal bin Farhan bin Abdullah stressed on Wednesday that geopolitical stability was the most important key to global energy security. Speaking at the World Economic Forum in Davos, he underlined the need for stability in the short-term for energy markets. He added that the Kingdom was…

Asharq Al-Awsat

Davos 2023: UN chief urges 'credible' net-zero pledges or risk greenwashing

U.N. Secretary-General Antonio Guterres on Wednesday called on business leaders gathered at the World Economic Forum in Davos to follow the principles outlined by an expert group to make "credible", accountable net-zero pledges.

Reuters

IMF: Saudi Arabia Playing Important Role in Energy, Food Security

International Monetary Fund (IMF) Managing Director Kristalina Georgieva underscored on Wednesday the important role Saudi Arabia is playing in energy and food security. “Saudi Arabia takes its good fortunes to heart to play an important role in energy and food security,” she said at the World Economic Forum in Davos.…

Asharq Al-Awsat

UN chief

The head of the United Nations says the world is in a “sorry state” because of myriad “interlinked” challenges including climate change and Russia’s war in Ukraine

The Independent UK

Davos 2023: Saudi-US partnership is crucial for global security, says Saudi envoy

Saudi Arabia's ambassador to the United States said on Wednesday that maintaining the long-standing strategic partnership between Riyadh and Washington was "beyond critically necessary" for global stability.

Reuters

Live updates | World Economic Forum gathering in Davos

Ukrainian first lady Olena Zelenska dabbed teary eyes before attending a World Economic Forum session in Davos, Switzerland, as she heard the news that a helicopter carrying Ukraine’s interior minister and other officials crashed in Ukraine

The Independent UK

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Asharq Al-Awsat

Saudi Minister Says Efforts Underway to Stabilize Energy Security

Saudi Foreign Minister Prince Faisal bin Farhan said that his country is “working to stabilize energy security,” adding that the OPEC Plus has faced market fluctuations and worked for the benefit of both producers and consumers. In remarks during a session of the Davos 2023 World Economic Forum (WEF) on…

Fortune

Economic historian Niall Ferguson says de-globalization is 'a mirage'

The worldwide use of software like TikTok undercuts the idea of de-globalization, he argues.

The Guardian - UK

‘Tax us now’: ultra-rich call on governments to introduce wealth taxes

Disney heiress and actor Mark Ruffalo among ‘patriotic millionaires’ who addressed world’s elite at Davos

Tribune News Service

At Davos, Sinema and Manchin high-five over keeping filibuster rule

Kyrsten Sinema and Joe Manchin — who foiled Democrats’ efforts to pass a voting-rights overhaul by a simple majority — shared a high-five on the stage in Davos as they reaffirmed their opposition to overturning the Senate’s filibuster rule.

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Bangkok Post

Time to make the wealthy pay for development

The World Economic Forum's annual meeting in Davos, Switzerland, has always been more than a little problematic. But in recent years, the annual gathering of the rich and powerful has become an increasingly wasteful exercise in vanity. What is the point of all those private jets, luxury hotels, and clinking…

France 24

South Africans say no to energy price hike amid power shortage crisis

In tonight's edition: South Africa's energy crisis could land the government in court, as opposition groups and trade unions threaten to sue over a decade of crippling blackouts. Also, as the World Economic Forum kicks off in Davos, the head of the International Finance Corporation tells FRANCE 24 that now…

AFP

In Davos, Ecuadoran activist seeks end to fossil fuel addiction

Davos (Switzerland) (AFP) - Ecuadoran Amazon activist Helena Gualinga has come to the meeting of global elites in the Swiss Alpine village of Davos with a clear message: companies must stop new fossil fuel projects.

Tribune News Service

At Davos, Sinema and Manchin high-five over keeping filibuster rule

Fortune

Larry Fink, the face of ESG, says ‘the attacks are now personal’ for the first time in his career. ‘They are trying to demonize issues.’

“It’s hard—because it’s not business anymore, they’re doing it in a personal way,” Fink said at the World Economic Forum in Davos.

France 24

Davos 2023: EU's von der Leyen on her Green Deal Industrial Plan

EU Commission President Ursula von der Leyen outlined the bloc's Green Deal subsidy plan at the World Economic Forum on Tuesday, as the US and China push ahead with their own industrial subsidies for clean tech. FRANCE 24's Business Editor Kate Moody spoke with von der Leyen in Davos about…

Fortune

Davos CEOs have never had a worse feeling about the global economy

The world's business leaders at Davos think the global economy is in for a rough few years. Do they know something we don't?

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