You are here: Home » International » News » Economy
Business Standard

WEF summit opens as gloomy outlook for world economy reigns in Davos

Through Friday, world leaders, as well as nearly 2,000 CEOs and hundreds of others, would discuss what ails the world and what needs to be done

Press Trust of India  |  Davos 

World Economic Forum 2019
World Economic Forum (WEF) annual meeting for 2019. Photo: Reuters

The five-day annual congregation of more than 3,000 global leaders began Monday evening in this Swiss resort town amid a gloomy outlook for the world and calls for an equitable, sustainable and inclusive world.  

The World Economic Forum (WEF) annual meeting for 2019 began with crystal awards function and was followed by an opening concert.

The crystal awards were given to three personalities -- conductor Marin Alsop, film director Haifaa Al-Mansour and broadcaster and naturalist Sir David Attenborough.
 

Marin Alsop has been recognised for her leadership in championing diversity in music while Haifaa Al-Mansour has been awarded for her leadership in cultural transformation in the Arab world. 

The crystal award has been given to Sir David Attenborough for his leadership in environmental stewardship.

Their remarkable achievements inspire us to see beyond the limits of convention to find solutions for the current issues the world faces, according to the WEF.
 

The opening concert featured Alsop along with Taki Concordia Orchestra in association with Southbank Centre Orchestra and The Royal Academy of Music, London, as well as 13-year-old Clara Shen. Shen was the 2018 winner of Menuhin Junior Competition for young violinists.

Through Friday, world leaders as well as nearly 2,000 CEOs and hundreds of others, including representatives of organisations, would discuss what ails the world and what needs to be done. 

German Chancellor Angela Merkel, Japanese Prime Minister Shnizo Abe and Swiss President Ueli Maurer, among others, would be present.
 

On Monday, the Monetary Fund (IMF) lowered its global growth projections for 2019 and 2020 to 3.5 per cent and 3.6 per cent respectively, citing slowdown in several advanced economies more rapidly than previously anticipated.

First Published: Mon, January 21 2019. 23:25 IST
RECOMMENDED FOR YOU