Page 7 - World Economic Forum

Davos 2023: Over 50 high-impact initiatives at WEF for sustainable world

With more than 50 high-impact initiatives were launched or profiled, world leaders gathered at the WEF 2023 in the first major international gathering

Be realistic, avoid complacency: Leaders at World Economic Forum meeting

As the five-day-long annual meeting of world leaders here ended on Friday, they called for proceeding into the new year with a sense of realism and caution while avoiding any complacency. Amid looming threats of cost of living crises emanating from the Ukraine war and continuing pandemic-related risks, the leaders on Friday said there is a need for a resilient and determined approach towards a green and inclusive growth. "The anaemic economic growth, inflationary pressures and the war in Ukraine, all these factors tell us why we should proceed into the new year with a sense of realism and caution," IMF Chief Kristalina Georgieva said during the closing session of the World Economic Forum meeting on global economy. She also cautioned against Western climate subsidies and said these may hurt emerging and developing economies. "Western subsidies to combat climate change and encourage the transition to clean energy sources by using public money to step up private investment... may not

WEF 2023: 'Fragmentation can cost up to 7% of global GDP', says IMF chief

Asking the world to be pragmatic and collaborate, IMF chief Kristalina Georgieva on Friday said fragmentation can cost up to 7 per cent of the global GDP. "If we don't unite now, we'll face significant risk to the economy and people's wellbeing," she said during a session on global economy on the last day of the World Economic Forum Annual Meeting 2023. The International Monetary Fund Managing Director said if we look at medium-term growth prospects, how we handle the supply chain issues, that will decide our future prospects. She said her message to the world is to "be pragmatic and collaborate". Asked what will take the IMF to upgrade its global growth forecast, she said, "Last year, we downgraded the growth projections three times and not downgrading further itself is good news at the moment." Also, the labour market needs to be looked at seriously, as for anyone, having a cost of living crisis and a job is much better than having no cost of living crisis and no job, she ...

Davos 2023: UAE, India in early talks to settle non-oil trade in rupees

Thani Al-Zeyoudi, the UAE's minister of state for foreign trade said other countries, including China, had also raised the issue of settling non-oil trade payments in local currencies

'India's G20 presidency comes at a crucial time', says WEF's Klaus Schwab

"India remains a bright spot amid global geoeconomics and geopolitical crises," he added

Davos 2023: Adani is hooked on ChatGPT, says race for AI to get complex

Asia's richest man Gautam Adani, besides looking at opportunities to expand his vast empire, is hooked on ChatGPT - the programme that trawls vast amounts of information to generate natural-sounding text on virtually anything - from crafting jokes to writing ad copy, debugging computer code, to even generating poems and essays. Adani, whose conglomerate has in recent years diversified from mines, ports and power plants into airports, data centres and defence, penned musing from his visit to Davos to attend the World Economic Forum meeting. "From a meetings perspective, this was perhaps my busiest WEF as I met over a dozen heads of states and several business leaders," he wrote on LinkedIn, talking of new geopolitical couplings, climate change and tight-lipped evangelists and AI. Advancements in AI, or generative AI, was the buzzword at all the discussions at the WEF. "The recent release of ChatGPT (I must admit to some addiction since I started using it) is a transformational momen

Infosys CEO Salil Parekh signals M&A ramp-up as economic outlook brightens

We are very much looking at what we can do to acquire much more actively. Valuations are in a range that make more sense," Parekh told Bloomberg News in an interview at the WEF in Davos

World Economic Forum: India, UAE discusses non-oil trade in rupees

The UAE's trade deal with India aims to increase bilateral non-oil trade to $100 billion in the next five years

Garuda Aerospace to unveil carbon-neutral drone at World Economic Forum

Garuda Aerospace will manufacture over 25,000 drones in the next 15 months and will revolutionize the agricultural sector

TMS Ep351: IBC overhaul, ASER alarm, Adani FPO, World Economic Forum

Will the IBC overhaul make it more effective? Is the ASER report a wake-up call for the govt? Should you subscribe to Adani Enterprises' Rs 20K-cr FPO? What is the World Economic Forum? Answers here

Biggest challenge during pandemic was negotiating politics: Pfizer

Protectionism as a result of fear meant the governments closed down borders, making it difficult to export vaccines, says Albert Bourla, Pfizer's chief executive officer

We'll work with Indian organisations on online safety: Julie Inman Grant

Other countries are looking to set up institutions like the Australian one dedicated to protect people from digital harm, says Julie Inman Grant

WEF: Experts pitch for carbon pricing standards to accelerate green energy

Carbon pricing is essential to unlock trillions of dollars in private capital needed to reach emission reduction targets, experts and business leaders said on Thursday

No issue with crypto in India if laws are followed: MoS IT Chandrasekhar

RBI Governor Shaktikanta Das also said in February that cryptocurrencies lacked the underlying value of even a tulip

LIVE: Anurag Thakur meets wrestlers over sexual harassment allegations

Catch all the latest news and updates from around the world here

Maharashtra govt approves M&M proposal to set up Rs 10k-cr EV plant in Pune

The two sides signed an agreement to this effect at the World Economic Forum in Davos on Wednesday, M&M Ltd said in a statement

Uber not planning for any company-wide layoffs, says CEO Khosrowshahi

Dara Khosrowshahi's statement comes days after several IT companies have decided to hand over pink slips to their employees

Zelensky calls on the world to act fast against Russian attacks at WEF

'Russia needed less than one second to start the war. The world needed days to react with its first round of sanctions. The time the free world uses to think is used by the terrorist state to kill'

WEF 2023: US debt crisis clouds Davos optimism on global economy

More than a decade after one debt-ceiling standoff led to a sovereign US rating downgrade, financial-market turmoil and a weakened economic recovery

Geopolitical instability raises threat of 'catastrophic' cyberattack: Rpt

The Global Cybersecurity Outlook 2023 findings were based on surveys, workshops and interviews with over 300 experts and C-suite executives