Davos

The World Economic Forum's 2022 annual meeting in Davos has begun, which means the elite of the international business world are gathering in Switzerland.

Despite the small contingent of CFOs, the finance world will not be underrepresented. There are more people from CNN on the roster than participants from Microsoft. Also: But there are still plenty of big shots and famous faces.

Russia's blockade of Ukraine's ports is a “declaration of war” that threatens to trigger mass migration and a global food crisis, a United Nations official ...

Stablecoins are unstable. Cryptocurrencies don't act like currency. Does digital money ever stand a chance of winning the establishment's embrace?

Sethaput Suthiwartnarueput, a governor with the Bank of Thailand, said that Thailand has been experimenting in the world of digital currencies. That said, Georgieva noted that digital money can be a "global public good" that can help people send remittances across borders. Someone must be responsible for the value and it must be accepted universally as a means of exchange.

Volodymyr Zelenskyy, President of Ukraine, spoke on the opening day of Davos 2022, setting the agenda for leaders to come together to help his country.

The Global Future Council on the New Agenda for Fragility and Resilience provides guidance to humanitarian and development actors as well as the private sector to improve support to local actors and facilitate responses that strengthen community resilience. This has been evidenced by the COVID-19 pandemic, numerous climate emergencies as well as the war in Ukraine and the ensuing refugee crisis. He said the plight of Ukraine is a broader concern for world freedom. Zelenskyy's special address at Davos 2022 also called on countries to help reconstruct the country after the war, via 'United 24' - a fund set up to rebuild the country. As leaders gather this week to address the world's toughest challenges, the war in Ukraine is front and centre. He warned, “If the values of freedom are lost - everyone loses”.

Cryptocurrencies have taken a prominent role at the World Economic Forum's annual meeting in Davos, despite the mainstream finance world's apparent contempt ...

DAVOS, Switzerland: Ukrainian President Volodymyr Zelenskyy told global business leaders meeting at Davos on Monday (May 23) that the world faces a turning ...

He demanded an oil embargo, the blockage of all Russian banks and termination of all trade. Advertisement Advertisement

Two high-level speakers at the World Economic Forum gathering say Afghanistan's most urgent need is saving its economy from complete collapse.

The event is resuming in person after a two-year hiatus because of the COVID-19 pandemic, which also delayed this year’s meeting from its usual winter slot. He pointed to fears of people plunged into poverty and dying of hunger. He called on those listening “to be proactive because we pay for that — biggest prize human lives every day.” She says the focus should be on making fossil fuels cleaner by reducing emissions. But that did not mean large and sustained investments in fossil fuels. And that means that by 2050, this (carbon dioxide removal technology) needs to be the size of the oil and gas industry,” said Christian Mumenthaler, the group chief executive officer of insurance group Swiss Re. Most of the crowd of about 100 put their hands up. That is partly because the job market has been strong and households still have plenty of savings — even though Americans complain bitterly about surging inflation. ___ ___ And what about the millions left behind? Underpinning that was the Biden administration’s decision to freeze around $9.5 billion that the Afghan central bank has in U.S. banks.

DAVOS, Switzerland: Multiple threats to the global economy topped the worries of the world's well-heeled at the annual Davos think-fest on Monday (May 23), ...

Looking beyond that, however, he said he was concerned the Fed may need to lift rates higher than most officials and forecasters currently expect. Harvard University economist Jason Furman, head of the Council of Economic Advisers under former President Barack Obama, said his baseline probability for a recession in any year is 15 per cent. "I would play down the idea of a short-term trade off between inflation and growth," he said. "This is the price we accepted together to pay to protect our values ... It was worth paying this price." It doesn’t mean it is out of the question." And we can't solve the problems if we concentrate on only one of the crises," German Vice Chancellor Robert Habeck said.

A new report from the World Economic Forum, Four Futures for Economic Globalization: Scenarios and Their Implications, aims to kickstart the debate. The ...

What we’ve seen in recent decades of globalization is that the global exchange of ideas and perspectives has led to the advances and innovations that we enjoy today – advances that have created a better and more prosperous world. And as a consequence we will not be able to innovate the solutions for a sustainable future at the speed we need. Multipolarity and the value of resilience are on the rise. If they do, they will unlock economic growth that protects the planet and improves standards of living for all. The perception that the world economy has now entered a phase of de‐globalization has been based in part on the increasing frequency and magnitude of the economic and political shocks to which recently global value chains (GVCs) are being subject to. The best thinkers and doers, independent of geography, will need to collaborate for this to happen. Assessing how the global order will evolve in the future in this increasingly uncertain environment constitutes a challenge. Today’s global value chain structures have taken years to form, with hundreds of billions of dollars in investments and long-lasting relationships with suppliers and clients. Finally, in geopolitics, you have the increasingly divergent world views of China and the West, which seek to engage with one another on new terms. The world needs more connections, not less and our key priority now is to keep dialogue and connections going. At the moment, the world is fixated on COVID-driven supply chain disruption and riveted by the tragic conflict in Ukraine. But the real drivers of re-globalization were at work before 2020. At a time of hyperconnectivity in the virtual world, the physical world is proving to be less joined up.

YouTube CEO Susan Wojcicki and Microsoft chief Satya Nadella join 2500 leaders leaders at the World Economic Forum in Davos, Switzerland.

According to organizers: “The Annual Meeting 2022 will embody the World Economic Forum’s philosophy of collaborative, multistakeholder impact, providing a unique collaborative environment in which to reconnect, share insights, gain fresh perspectives, and build problem-solving communities and initiatives. Several discussions addressed prospects for growth in the U.S. and Europe with inflation at 40-year highs and interest rates rising. The current roster is slimmer than in the past, down by a few sanctioned Russian tycoons for one. Davos is the place where assembled dignitaries tittered and booed a boastful speech by former President Donald Trump in 2018, but weren’t laughing when he returned in 2020. It reconvenes, a bit subdued, at a critical moment with the world staggering under food scarcity, raging fuel prices and war. YouTube’s Wojcicki and Microsoft’s Nadella are scheduled to speak Tuesday.

Post Executive Editor Sally Buzbee and Economics Correspondent Abha Bhattarai will moderate panel discussions at the 2022 World Economic Forum Annual ...

The conversations will be livestreamed on The Post’s website. Washington Post Executive Editor Sally Buzbee and Economics Correspondent Abha Bhattarai will moderate panel discussions at the 2022 World Economic Forum Annual Conference in Davos, Switzerland. The Forum convenes global news leaders across sectors for in-depth, of-the-moment conversations that explore elements of the global economy and look ahead at what’s to come. Monday, May 23 at 11:30am ET (17:30 CEST), “Strategic Outlook: The Future of Global Operations:” Buzbee will moderate a discussion on the importance of the manufacturing sector to the global economy and society, featuring Blake Moret, Chairman and Chief Executive Officer, Rockwell Automation Inc.; Frans van Houten, Chief Executive Officer, Co-Chair PACE, Royal Philips; and Amitabh Kant, Chief Executive Officer, National Institution for Transforming India (NITI) Aayog. Read more about the session here.

DAVOS, Switzerland : The World Economic Forum returned to Davos on Monday with a unique spring gathering. Here is what you need to know about Day 1:ECONOMIC ...

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Ursula Von Der Leyen, president of the European Commission, and Jens Stoltenberg, Secretary-General of NATO, are both giving keynote speeches today, in another ...

4.30pm Davos (3.30pm BST): Securing Europe, with Andriy Yermak, Head of the Presidential Administration of Ukraine, Belgium’s prime minister Alexander De Croo, Prime Minister of Belgium, Stevo Pendarovski, President of North Macedonia, Kajsa Ollongren, Minister of Defence of the Netherlands, Jens Stoltenberg Secretary-General of NATO 5.30pm Davos (4.30pm BST): Preparing for next pandemic, including Bill Gates, Peter Sands, executive director of The Global Fund To Fight Aids, Tuberculosis & Malaria, Francis deSouza, CEO of Illumina, Helen E. Clark of WHO, Paul Kagame, President of Rwanda 11am Davos (10am BST): Special address by Ursula Von Der Leyen, president of the European Commission 11.45am Davos (10.45am BST): Speeding up road to net zero with Fatih Birol of IEA, John Kerry, Catherine MacGregor, Frans Timmermans. 10am Davos (9am BST): Special address by Spanish PM Pedro Sanchez 8.45am Davos (7.45am BST): Reimagining the global tax system, with Gabriela Bucher of Oxfam, Stefanie Stantcheva, Professor of Economics at Harvard University, Mathias Cormann of the OECD

Beyond the mandatory coronavirus tests, the mood at the World Economic Forum in Davos, Switzerland, is decidedly somber, weighed heavily by concerns of the ...

But this year, much of that has been scaled down — in part because of global and economic turmoil. and that confidence continues to drop, that to me can become self-fulfilling into recession,” Adena Friedman, chief executive of Nasdaq, said in a panel discussion. “When inflation gets into the system, it takes a while to get in but it takes a lot longer to get out,” David M. Rubenstein, co-founder and co-chairman of the Carlyle Group, said in a panel discussion. “Leaders face difficult choices and trade-offs domestically when it comes to debt, inflation and investment.” The conference, which was held virtually last year and pushed back four months this year, has long been synonymous with wealth, prestige and power, and all that they represent. “If consumer confidence really continues to go south, the markets continue to show a lot of wobbliness and a lack of a foundation... An estimated 657 million people live in extreme poverty, up from 641 million before the pandemic, according to projections from the World Bank. American consumers, who have been spending heavily on big-ticket items, have so far been a bright spot in the economy. After months of solid growth, the U.S. economy unexpectedly shrank early this year, in large part because of a widening trade gap. “It shouldn’t be a great cause for alarm if it’s a mild recession.” “We’ve never had a Davos like this one,” Rich Lesser, global chair of Boston Consulting Group, said in an interview. The U.S. stock market has nosedived in recent weeks over fears of a recession, with the S&P 500, Nasdaq and Dow Jones industrial average all down at least 6 percent in the past month.

On WEF 2022 Day 2 schedule, Commerce and Industry Minister Piyush Goyal will be speaking at the WEF event "India at 75: Strategic Outlook" · 8 AM · 9 AM · 10 AM.

More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance. Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your support through more subscriptions can help us practise the journalism to which we are committed. The World Economic Forum's (WEF) Annual Meeting 2022 is taking place in Davos, Switzerland, under the theme, 'working Together, restoring Trust' from May 22 to 26. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. 5 experts explain WEF 2022 Davos: Why India's clean energy lies with green hydrogen, not blue 'Save the planet': As WEF returns, here is what Davos is talking about WEF Annual Meet 2022 starts May 22 in Davos; Sitharaman, 3 CMs to attend 2. The Future of Crypto: The View from Miami However, he called for more help. 7. The Rise of the Stay-at-Home Economy? 7. Shaping the Future of Investing

Good morning from the Financial Times. Today is Tuesday, May 24th, and this is your FT News Briefing. [MUSIC PLAYING]. The global economic elite are in ...

Jess Smith But can you talk about what a Toshiba sale would mean for Japan’s corporate culture? Jess Smith Jess Smith Jess Smith Jess Smith Jess Smith Jess Smith Jess Smith He also wants frozen Russian assets to be used as compensation for victims of the war. Jess Smith Jess Smith

Financiers and CEOs are no longer the masters of the universe as nationalism and militarism take over.

Crypto-related technology companies are out in force at the annual World Economic Forum in Davos. The Promenade, a main strip where companies and ...

The industry's strong showing at Davos comes despite a recent market crash. "It's easier to do business in a bear cycle. We committed to coming here a long time ago but that wasn't going to change. Blockchain came to prominence with bitcoin but its definition has expanded. The day is celebrated every year by the crypto community. - The industry's strong showing at Davos comes despite a recent market crash.

Asean is well-positioned for growth despite challenges in the broader region. How can it further enhance its role on the global stage?

In a livestreamed interview with CNN, Congressman Michael McCaul referred to the photo to accuse the Chinese delegation of walking out of the room while others ...

However, by comparing photos, Caixin determined that the figures in the photo shown on CNN were members of the delegation led by Vietnam’s Deputy Prime Minister Le Minh Khai. A person close to the group confirmed their identities to Caixin. In a livestreamed interview with CNN, Congressman Michael McCaul referred to the photo to accuse the Chinese delegation of walking out of the room while others applauded Ukrainian President Volodymyr Zelenskyy’s virtual speech at the opening of the WEF annual meeting late Monday morning in Davos, Switzerland. What’s new: The figures in a photo criticized by a U.S. Congressman for not standing up during an ovation for the Ukrainian president’s speech at the World Economic Forum (WEF) were not Chinese, but Vietnamese, Caixin has learned.

The WEF annual meeting included panels on the energy transition, the global economy, and the war in Ukraine.

Separately, a Russian diplomat to the United Nations resigned because he is “ashamed” of Vladimir Putin’s war in Ukraine. At 9am, a panel convenes to talk about the challenges facing the global workforce. Tech in the hot seat. No, German chancellor Olaf Scholz is not on the list of Davos attendees. A Russian soldier was sentenced to life in prison for war crimes. When you have that kind of rhetoric, you create an environment where people believe that’s possible—that makes investors and others less willing to invest in the industry.” The planet may suffer the worst food crisis in recent history, and poor countries will have to pick between reining in debt and borrowing to buy food and fuel. The kids are not all right. The first full day of Davos is behind you, and the weather for the most part was surprisingly sunny. Us either, until yesterday, when we came upon a heavenly stand outside the Infosys spot on the Promenade. The soft-serve drizzled with saffron water, date syrup, and cardamom was as good as it looked, and paired perfectly with the midday sun. Quartz’s examination of the roster reveals: In the old days, you’d just raise your hand.

While di slow economy from di Ukraine war dey affect mostly Europe, na di U.S. economy dey experience di greatest price pressures.

we get food poverty, and climate crisis. IMF cite di war for Ukraine and single out inflation as a "clear and present danger" for many kontris. we get energy crisis… We get high inflation… Meanwhile, di effects on oil and food markets of Russia invasion of Ukraine in February and COVID-19 lockdowns for China dey too. These price rises dey affect confidence of customers and don affect di world financial markets.

NATO chief Jens Stoltenberg follows shortly after, while European Central Bank President Christine Lagarde will be speaking at a dinner with several European ...

The company has already begun exploring its options for making its logistics routes low carbon, by introducing Chile’s first high-tonnage electric truck to be used in large-scale mining, which could eliminate approximately 3.840 tons of CO2 per year. One to watch: “ Preparing for the Next Pandemic” with Bill Gates (who, we’re told, ironically, had to delay his arrival in Davos having contracted COVID). It’s on at 5:30 p.m. SQM is also committed to high social and environmental performance and is the second lithium mining globally company that started an independent third-party audit against the Initiative for Responsible Mining Assurance (IRMA) Standard. Read more here.** Our reviews (and the photos) are in: Naming and shaming: SAP, a German multinational that specializes in cloud services and database tech, is “still continuing to work in Russia and to pay taxes to help finance the Russian army,”Fedorov said, noting that lots of banks and banking activities use its products. Gone were the queues and heavy security, though Bank of America and others held a smattering of receptions which offered lots of the old-school Davos schmoozing. WHAT TO WATCH: The World Economic Forum is now in full swing, with most of the big-hitters in town. Looks like the days of canny locals flogging their home for weekly rates in the tens of thousands may be over. Don’t bite: Cardamom and saffron ice cream may sound enticing, but the details don’t gel. On the other hand, holding two major events in Davos would be a money-spinner, and there will be demand from this year’s May crowd. President Andrzej Duda is among the panelists on this morning’s “Geopolitical Outlook” session, while Prime Minister Mateusz Morawiecki is also due in town. Here’s more from the Wall Street Journal on this year’s wardrobe challenges.

A high-level panel of climate leaders, including US and Chinese Special Envoys John Kerry and Xie Zhenhua, joined World Economic Forum president Børge ...

Offering a glimmer of hope, Kerry noted that meeting climate targets is still possible, but only through collective action: "The reality is that 20 countries are responsible for 80% of emissions. The current global food system can reasonably feed 3 billion people, 3 billion more struggle to feed themselves, while up to 1 billion faces real undernourishment. The war in Ukraine will only exacerbate these terrifyingly high levels of food insecurity." This is the real battle of our time." This includes the Alliance of CEO Climate Leaders, a global network of business leaders from various industries developing cost-effective solutions to transitioning to a low-carbon, climate-resilient economy. The World Economic Forum's Global Risks Report continues to rank these environmental threats at the top of the list.

The fear of recession is stalking the World Economic Forum in Davos. It has been two years since the world's business and political elite have been allowed ...

In the US, demand is booming. Let's say 5050," the CEO of Standard Chartered bank Bill Winters told me. Or are they going to be able to finesse this and generate a soft landing?

President of the International Committee of the Red Cross (ICRC) Peter Maurer attends a session themed "Building Economies in Fragile Markets" of the World ...

The WEF Annual Meeting 2022 is held here from May 22 to 26. The WEF Annual Meeting 2022 is held here from May 22 to 26. The WEF Annual Meeting 2022 is held here from May 22 to 26. The WEF Annual Meeting 2022 is held here from May 22 to 26. The WEF Annual Meeting 2022 is held here from May 22 to 26. The WEF Annual Meeting 2022 is held here from May 22 to 26.

EU climate chief Frans Timmermans said companies must carry more of the burden from the surging energy costs that have plunged many of the world's poorest ...

President Volodymyr Zelensky of Ukraine, in a virtual speech at the World Economic Forum, urges the business world to cut its ties to Russia.

Broadcom’s expected $60 billion bid to buy VMware, which would be one of the largest deals of 2022, could raise a number of questions. The conflict has caused dizzying spikes in gas prices and product shortages, and is pushing Europe to reconsider its reliance on Russian energy sources. As JPMorgan Chase faces questions about the rising costs of doing business and C.E.O. Jamie Dimon’s $84 million payday, the bank invited analysts and other investors to a daylong event at its Manhattan headquarters to lay out its plans for the next year. DealBook turned to our colleague Lananh Nguyen, who covers Wall Street and attended the event, to make sense of the uncertain economic outlook and what’s next for the nation’s biggest bank. Dimon, whose time as the head of the bank has already made him a billionaire, was awarded a bonus last year that could be worth $50 million if he stays on until 2026. Tech industry groups that challenged the law, whose members include Google, Meta and Twitter, recently filed an emergency appeal at the Supreme Court to block a similar law in Texas. Inflation and the ramifications of China’s zero-Covid policy were among the points of discussion among C.E.O.s yesterday. (Starbucks said yesterday it was exiting Russia.) Zelenksy went on to say that Ukrainian officials were at Davos and could “inform all of you on the prospects for business.” The applause was for President Volodymyr Zelensky of Ukraine, who in a virtual speech urged the business world to cut its ties to Russia. “It is necessary to set a precedent so that your brands will not be associated with war crimes,” Zelensky said. Wicker said the American people need to believe “the money is being spent wisely and efficiently.” At a bipartisan panel of members of Congress, Senator Roger Wicker, Republican of Mississippi, noted the swiftness with which Congress had approved a $40 billion package to Ukraine last week. What’s more, the E.U. might be nearing an agreement for an embargo on Russian oil, Germany’s vice chancellor and energy minister, Robert Habeck, told The Times in an interview yesterday from Davos: “I’m positive that Europe will find a solution within the next days.”

DAVOS, Switzerland (AP) — As government officials, corporate leaders and other elites at the World Economic Forum grapple with how to confront climate ...

“The U.S. can provide ample resources to the rest of the world. Instead of talk about moving away from fossil fuels, Hollub said the focus should be on making fossil fuels cleaner by reducing emissions. Von der Leyen added that the war in Ukraine has strengthened Europe’s determination to get rid of Russian fossil fuels rapidly. But today, the question is both practical and urgent, as Russia’s invasion of Ukraine has forced many countries that depended on Russian oil and gas to make swift changes to energy supplies. “Some people may use the invasion of Ukraine as an excuse for fossil fuel investments. “For many of them, we rely on a handful of producers in the world.

Senate Energy and Natural Resources Chair Joe Manchin (D-W.Va.) hinted at a potential deal on a package involving climate, drug prices, fossil fuels and.

“We have the ability to go down two paths of passive investing in some of the technology that’s going to be needed for the transition that will happen,” Manchin said. “If we have Canada, United States and Mexico, with the amount of critical minerals that we have deposits in those three countries on one continent working together seamlessly, we will absolutely reduce our dependency on Asia, on China.” “And we just need to accept that and get what we can get.” Democrats have tried to keep their hopes alive for “Build Back Better” in conversations with Manchin and in public. “The United States of America has an abundant supply of natural gas and oil,” Manchin said. On the latter point, Manchin said, “You can’t do one without the other.”

During his annual dinner-cum-speech on the sidelines of the World Economic Forum in Davos, George Soros identified Russian aggression and Chinese ...

He didn’t point to the inequalities of wealth that yawned wider and wider through the pandemic. In a way, it is perhaps inevitable, given his biography, that Soros feels most anxious about the dangers of totalitarian leaders, particularly in Eastern Europe. In his youth, Soros saw his native Hungary first occupied by the Nazis and then folded into the Soviet sphere of influence. But in a half-hour address that mostly ignored covid—and also climate change and inequality—Soros focused on the authoritarianism of Xi Jinping and the war-mongering of Vladimir Putin.

Billionaire financier George Soros said on Tuesday that Russia's invasion of Ukraine may have been the beginning of World War Three so the best way to ...

"Contrary to general expectations Xi Jinping may not get his coveted third term because of the mistakes he has made," Soros said. "Today China and Russia present the greatest threat to open society." "But the ceasefire is unattainable because he cannot be trusted," Soros said. Ukraine and its Western allies reject these as baseless pretexts to invade a sovereign country. That's the bottom line." Register now for FREE unlimited access to Reuters.com

Government and corporate leaders at the World Economic Forum are debating whether oil and gas companies can or should be part of the future transition to ...

"The U.S. can provide ample resources to the rest of the world. Instead of talk about moving away from fossil fuels, Hollub said the focus should be on making fossil fuels cleaner by reducing emissions. Von der Leyen added that the war in Ukraine has strengthened Europe's determination to get rid of Russian fossil fuels rapidly. "Some people may use the invasion of Ukraine as an excuse for fossil fuel investments. But today, the question is both practical and urgent, as Russia's invasion of Ukraine has forced many countries that depended on Russian oil and gas to make swift changes to energy supplies. So, we must avoid falling into the same trap as with oil and gas.

Politicians and generals are back in charge at the World Economic Forum – and business leaders are disoriented, says the Financial Times' Gideon Rachman.

One leading financier notes that the US Congress is considering hundreds of potential measures to restrict economic relations with China. David Beasley, executive director of the World Food Programme, told a panel that unless the Ukrainian port of Odesa was opened in the coming weeks “we will have famines”. For the Davos crowd, the implications of the conflict are both immediate and long term. The informal motto of Davos was “make money, not war”. But it is more than just a discordant note in a festival of deal-making and glad-handing. LONDON: During Davos week, the Swiss ski resort becomes a sea of corporate and national marketing.

On Monday, in a virtual address, Ukrainian President Volodymyr Zelensky urged the Forum's well-heeled executives to scrap their remaining interests in Russia. “ ...

Ukraine’s soldiers “are not fighting exclusively for their soil,” but the hope of extending Europe’s liberal project to their country, she added. “Honesty is on the side of Ukraine.” “I think it’s fairly obvious that the Russian plan is to grind it out … and to count on the West to come apart in some way and frankly to lose interest and be distracted by high energy costs and our own elections,” Sen. Christopher A. Coons (D-Del.) told me. “Those living in liberal democracies have started taking for granted the freedoms, values, prosperity and all the accompanying things” that shape their open societies, Ivanna Klympush-Tsintsadze, a Ukrainian parliamentarian, told me. “There’s little room for compromise between these two positions.” An American investment banker bemoaned the Biden administration’s rushing of billions of dollars in aid to Ukraine, suggesting that would prolong an intractable war and that Ukrainian acquiescence to Russian land grabs would be better for his bottom line. But the precedent that looms above all other discussions is Russia’s unprovoked invasion of Ukraine and the apparent campaign of atrocities left in its wake over the past three months. Talk of liberal values, rule of law and human rights, they contend, must come with a guarantee of hard power and military aid. In the past, noted Financial Times columnist Gideon Rachman, “political leaders — including [China’s] Xi Jinping, [India’s] Narendra Modi and [Russia’s] Vladimir Putin himself — came to pitch to the assembled billionaires. The next day, NATO Secretary General Jens Stoltenberg echoed that call. “All foreign business should leave Russia so that your brands are not associated with war crimes. Along the main promenade in Davos, pavilions operated by nation states and multinational firms offer free espressos and sunny corporate messaging about things like eco-tourism and inclusion.

From foreign affairs to food crises, most business leaders have turned bearish because of global uncertainty.

The war in Ukraine is top of the agenda at the World Economic Forum in Davos this week, with a keynote address from President Volodymyr Zelenskyy.

If Russia takes over Ukraine it would be a bad signal ... it is a bad signal for the whole world," he said. Another attendee, Arshdeep Sethi, a senior managing director at real estate firm RMZ corp, said he appreciated Zelenskyy's focus on practical solutions to the reconstruction. The latest reports suggest that 38 towns were hit in the Luhansk and Donetsk areas on Monday. Two Ukrainian women, who have volunteered to help their army but were in attendance at Davos, said the exhibition doesn't show anything new to them. But the World Economic Forum has barred them from taking part at this year's event following Moscow's unprovoked invasion of its neighbor. That's what we are doing here," Bjorn Geldhof, the artistic director for Kyiv-based PinchukArtCentre and curator of the exhibition, told CNBC.