(CNN) - The delegates’ energy levels may be flagging, but there’s still plenty to get excited about on day three of the World Economic Forum, which begins with a report from the crucible of the Arab Spring by Hamadi Jebali, Prime Minister of Tunisia.
Jebali will then join Moroccan Prime Minister Abdelilah Benkirane and Egyptian presidential candidates Abdel Moneim Aboul Fotouh and Amre Moussa for a discussion of the future of governance in North Africa.
Israeli Deputy Prime Minister Ehud Barak will join Yukiya Amano, Director-General of the International Atomic Energy Agency, for an interactive session on how the world would respond to the news that Iran had successfully developed a nuclear weapon. And the heads of the Organization for Economic Co-operation and the United Nations World Food Program, Angel Gurria and Josette Sheeran, will join Sweden’s Minister of Finance, Anders Borg, for a televised debate on an issue which has been at the very heart of Davos 2012: fixing capitalism. FULL POST
Davos, Switzerland (CNN) - To hear the European leaders in Davos you would think the eurozone crisis had only just occurred and there was an urgency to deal with it hitherto unforeseen.
German Chancellor Angela Merkel, British Prime Minister David Cameron and European economics commissioner Olli Rehn -– just about any leader in Davos - is now saying that time is of the essence –- that it is time to actually sort out the eurozone's problems. Forgive me. What on earth have the European leaders been doing and promising over the past three years?
It is strange that now as we enter a new year they believe 2012 is the right moment to actually take the necessary decisions and implement the changes. And yet they were saying similar things in 2011, in Davos. So it is entirely understandable if we are now skeptical that they have the willpower and ability to put things right. FULL POST
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
(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
Davos, Switzerland (CNN) – The secret of a good igloo is its spiral structure, with snow blocks slotting into each other to protect against sub -zero temperatures.
But here at Davos, the Occupy WEF organizers - who’ve built seven igloos as they settle into protests against the World Economic Forum - have found rising temperatures a greater challenge.
Despite the biggest snow dump in decades, one day’s five degree high collapsed an igloo while a protestor was sleeping inside. Apparently it only sunk five centimeters at a time, and created entertainment rather than panic. FULL POST
London (CNN) – It’s official - Davos does not have the moves to attract Jagger.
The Rolling Stone frontman was supposed to be one of the more unusual guests at this year’s World Economic Forum, attending a tea party thrown by British Prime Minister David Cameron. But unfortunately for Cameron, you can’t always get what you want.
In a statement released Monday, Jagger said he was pulling out of the event, over fears he will be used as a "political football." Sir Mick – a knight of the realm - said he was worried about people making inaccurate judgements over his political allegiances and, as a result, was declining his invitation.
Davos, Switzerland (CNN) - The theme of this year’s World Economic Forum meeting in Davos is “the great transformation: shaping new models”. But this morning, at a WPP-organized breakfast about the world’s political outlook, it is the absence of a great transformation that is most clouding the world’s political outlook in 2012.
The breakfast, hosted with characteristic wit by WPP CEO Martin Sorrell, featured the political predictions of the American pollster Mark Penn and the British Labour Party impresario Peter Mandelson. But, in spite of the profound challenges to the global system, neither Penn nor Mandelson were able to conjure any great transformation in a world desperate for radical political reinvention.
The biggest party in America is “the no party,” Penn explained. The American electorate, he went on, is “fed up,” “angry” and “deeply pessimistic” about the future of the country. And yet, in spite of all this dissatisfaction, Penn sees the Republican primary race as a “circus,” is not optimistic about a third party candidate (unless Newt Gingrich unexpectedly wins the nomination,) sees little hope for a solution to the American budget crisis and expects Obama to be reelected in 2012.
Davos, Switzerland (CNN) – With the world still shaking from the global economic earthquake, and suffering daily aftershocks from Europe, it is not surprising that the topic at Davos is whether capitalism is dead.
On the opening day, the main debate focused on the question: "Is 20th century capitalism failing 21st century society?"
It’s not hard to see why. Former White House economist Nouriel Roubini reminded us that today we are "back to the inequality of 1929 and the Great Depression." High unemployment and the failure of wages to keep pace with living costs are resulting in widespread unrest against elites. FULL POST
(CNN) – In the hours before President Obama strode up to the podium to deliver his State of the Union Address, Bill Gates was quietly publishing his own thoughts for the year ahead.
Well, he was doing it as quietly as Bill Gates does anything.
Posting a link to his letter on Twitter, the businessman, philanthropist and regular entry on world rich lists wrote: “We cannot tolerate a world in which 1 in 7 people is undernourished, undernourished (sic), stunted, and in danger of starving to death.”
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