Davos, Switzerland (CNN) - It is perhaps not surprising that in a gathering of the elites at Davos, the issue of bankers’ bonuses is never far from the delegates’ minds.
But unlike in recent years - a time when bankers showed remorse over their high pay packets - there seem to be noises of a fight back.
Because with profits strong, the banking bonus culture is back - to the annoyance of many including the British Prime Minister David Cameron and the Governor of the Bank of England, Sir Mervyn King. FULL POST
The CEO of one of India’s leading IT companies has said that Europe remains key to his organization, despite Europe’s economic woes.
SD Shibulal, CEO of Infosys, told CNN’s John Defterios that Europe provided 23% of his company’s revenue.
“As far as we are concerned we continue to see Europe as a major market for us,” he said. “We will recruit 500 people in Europe alone in the next nine to 12 months. Europe is a good opportunity for us.”
He added that Western companies will need to innovate if they are to make the most of emerging markets. FULL POST
Sakyra, Turkey (CNN) - Turkey has in the past focussed its trade on Europe, but with Europe's growing economic woes and a new political era in the Middle East, Turkey is slowly turning its political and economic attention east.
Orhan Ozer is president and CEO of Toyota Turkey. He told CNN’s Rima Maktabi: “Turkey has lots of advantages in respect of the geographical advantages, in respect to the location of the country at the middle of Europe, Middle East – even Central Asia.”
“Also the population is young, they are very dedicated, qualified, experienced and they are very ambitious for their work,” he added
(CNN) - The line-up of some of the biggest names in politics and business continues on day two of the World Economic Forum, but it’s not exclusively about the rich and powerful: the worlds of art and sport get a look in as well.
The second day of the relentless Davos schedule launches with one of the world’s wealthiest men and best-known philanthropists, Microsoft founder Bill Gates, taking part in a discussion on food security. In the evening, he will return to moderate a conversation with Mexican President Felipe Calderon on the role of the G20 in tackling the global economic crisis.
Facebook’s chief operating officer Sheryl Sandberg will form part of a panel on the way technological advances are driving economic growth and employment, and World Bank president Robert Zoellick will feature in a session on how development can continue without destroying the ocean. Pascal Lamy, director-general of the World Trade Organization, will take part in a discussion on China’s new role as world’s lender of last resort, and how the country can best deploy its massive current account surplus and private capital without triggering a backlash. FULL POST
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