Page 3 - Davos

Telangana signs deals worth Rs 12,400 cr with Adani Group at Davos summit

Business conglomerate commits investments in data centre, energy storage, cement plant

SBI Chairman Dinesh Khara backs move to curb 'unhealthy' loan growth

Meanwhile, SBI is evaluating if it needs more capital, Khara said. It's exploring raising capital through additional Tier-1 bonds after recently issuing Tier II bonds, he said

Davos 2024: Karnataka signs MoUs worth Rs 22,000 cr with 7 cos at WEF meet

The Karnataka government said on Wednesday it has signed MoUs with investment proposals to the tune of Rs 22,000 crore with seven companies at the World Economic Forum Annual Meeting in Davos. As part of the MoUs signed on Tuesday, Web Werks proposes to set up a Rs 20,000 crore data centre park in the State, while four other companies plan to invest a total of Rs 2,000 crore, according to a statement issued by the Karnataka Minister for Large and Medium Industries and Infrastructure Development M B Patil. A delegation from the state, headed by Patil, engaged in a series of deliberations with industry leaders during the WEF Meet 2024 in Switzerland, it said. The Lulu Group is set to venture into food processing in Vijayapura district, with plans to invest Rs 300 crore in a plant dedicated to exports, the statement said. Takeda Pharmaceuticals intends to establish a global innovation centre in Bengaluru and is actively scouting for suitable campus locations, it was stated.

Davos 2024: Is India's economic growth showing Chinese characteristics?

The talk in Mumbai's financial circles is about a cheery prediction by Goldman Sachs Group Inc. that by 2027 100 million Indians will enjoy incomes of at least $10,000 a year, five times the national

India's growth prospects firm, banking sector recovered well: Das at Davos

India's growth prospects are very good, and the country's banking sector has seen a remarkable recovery, Reserve Bank of India (RBI) Governor Shaktikanta Das said on Tuesday. Speaking at a session here, Das said there is a lot of international confidence in India and the macroeconomic and financial sector stability that the country offers. "...I think we need to really look back at the business opportunity in India. Because this is the right time to build into the Indian ecosystem," he said and emphasised that the country's growth prospects are very good on account of the structural reforms that have taken place in recent years. Despite various shocks and crises, he said the Indian banking sector has seen a remarkable recovery. "The Indian banking sector is perhaps at one of its best in recent years... the financial sector is very stable... the external sector is also stable notwithstanding that the global growth is slowing down...India's services sector is growing," he said. Whil

WEF highlights: India's growth momentum to stay, says RBI Guv at Davos

LIVE updates on World Economic Forum: The theme of the Open Forum Davos 2024, which takes place January 15-19, is: "From Lab to Life: Science in Action". Catch all the latest news updates here

India reinforces status as preferred investment destination at Davos: Govt

The Commerce and Industry Ministry on Tuesday said India is reinforcing its status as a resilient global economy and a preferred investment destination at the World Economic Forum in Davos. India's presence is marked by securing four distinct spaces at WEF, each dedicated to showcasing the India opportunity and its growth story to global investors, it added. The four spaces are - India Engagement Centre, Experience India Centre, India Investment Centre, and We Lead Lounge, the ministry said in a statement. The India Investment Centre, it said, will serve as the centre for Government-to-Business (G2B) and Business-to-Business (B2B) networking, hosting roundtables and sessions. Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Rajesh Kumar Singh is participating in the meeting. "At WEF, a total of 21 sessions will be held over the span of 5 days. India will be showcasing its opportunity and opening doors for discussion on manufacturing, technology, ...

At Davos, Zelenskyy lashes out at Putin, urges support for Ukraine's fight

Ukrainian President Volodymyr Zelenskyy huddled with corporate executives and world leaders in a frenzied first full day of the World Economic Forum's annual meeting in the Swiss ski resort of Davos, where top officials from the United States, European Union, China, the Middle East and beyond spoke Tuesday about tackling conflict and embracing technology like artificial intelligence. Zelenskyy is endeavoring to keep his country's long and largely stalemated defense against Russia on the minds of political leaders, just as Israel's war with Hamas, which passed the 100-day mark this week, has siphoned off much of the world's attention and sparked concerns about a wider conflict in the Middle East. "It is important that you stand with us, I thank you for your support. It is very important to be here, to boost investment in Ukraine and support our economy, Zelenskyy said at an invitation-only CEOs for Ukraine session, according to his office. It is Zelenskyy's first trip to Davos as ...

Switzerland hosts Zelenskyy and offers to host peace summit for Ukraine

Swiss President Viola Amherd said on Monday, during a visit by Ukrainian President Volodymyr Zelenskyy to Bern, that her country has offered to organise a peace summit that aims to help bring an end to Ukraine's ongoing war with Russia. "I confirmed to him that Switzerland is ready to organise a conference," Amherd said during a joint press conference with Zelenskyy. "We have agreed that we will examine the details of the next steps in depth to ensure that the peace process is a success." The two presidents said the Ukrainian and Swiss teams will begin preparations for the Global Peace Summit in Switzerland as early as Tuesday. No details were provided about when or how such a summit could take place, and Russia hasn't been involved in the process. "This summit is intended to infuse the necessary energy into everything that has already been achieved and to determine that the end of the war must be fair, and the restoration of the strength of international law -- complete," Zelenskyy

CEOs fear for their firms in pre-Davos survey as AI, climate risks rise

Advancements in generative AI were top of the concerns for most survey respondents, with almost 75% predicting it would significantly change their business in the next three years

India shifted from women-centric to women-led development: Puri at Davos

India has moved from women-centric development to women-led development under the leadership of Prime Minister Narendra Modi, Union ministers Smriti Irani and Hardeep Singh Puri said here on Monday. Speaking after inaugurating the Women Leadership or WeLead Lounge here on the sidelines of the World Economic Forum Annual Meeting, Irani said it gives her immense satisfaction to see this lounge and a huge Indian presence on the main Promenade street of Davos. The lounge has been set up by her Women and Child Development Ministry in association with the Bill and Melinda Gates Foundation and industry chamber CII. Irani said the Modi government has ensured women-led development in the country through its various schemes, including for housing and cooking fuel. At the same event, Housing and Petroleum Minister Puri said he completely agreed with his Cabinet colleague that India has moved to a women-centric development model. "We started with women-centric development, but now we have mov

Davos 2024: Conflict, climate change, AI get top of list for discussion

The Earth is heating up, as is conflict in the Middle East. The world economy and Ukraine's defence against Russia are sputtering along. Artificial intelligence could upend all our lives. The to-do list of global priorities has grown for this year's edition of the World Economic Forum gabfest of business, political and other elites in the Alpine snows of Davos, Switzerland. It gets going in earnest Tuesday and runs through Friday. Over 60 heads of state and government, including Israeli President Isaac Herzog and Ukrainian President Volodymyr Zelenskyy will be heading to town to hold both public appearances and closed-door talks. They'll be among more than 2,800 attendees, including academics, artists and international organization leaders. The gathering is mostly high-minded ambition think business innovation, aims for peace-making and security cooperation, or life-changing improvements in health care and a venue for decision-makers in an array of fields and industries to ...

Davos 2024: Ikea prices to fall despite Red Sea disruptions, says CEO

Ingka Group has invested more than 1 billion euros ($1.1 billion) in price reductions across its markets from September to November, and aims to continue lowering prices in 2024

WEF Davos 2024: China keeps weighing on world in view of economists

"China is a notable exception as weak consumption, lower industrial production and distress in property markets weigh on the prospects of a stronger rebound in 2024," the Forum said in its report

Davos 2024: India on cusp of FDI flood, says Bajaj Finserv's Sanjiv Bajaj

'Ten years of this growth we have seen, at least another five years of a strong majority government will end up institutionalising those policies to a fair extent,' Bajaj said in an interview in Davos

Hitachi's Indian business expects to have $20 billion revenue by 2030

Hitachi India's rail and power business would be the biggest revenue contributor over the next decade, he Kaushal added

Global investors attracted to India amid political stability: Prashant Ruia

We are making significant advances in energy transition, focusing on hydrogen, green mobility, and green steel ecosystems, Ruia said

WeLead to Credible India: Indian lounges dominate Davos promenade

About a dozen Indian lounges have dominated the main Promenade street of Davos as the snowcapped resort town readies for the five-day World Economic Forum Annual Meeting beginning Monday. Adorning the event are WeLead Lounge - set up to showcase women leadership, India Engagement Centre, pavilions by Maharashtra, Tamil Nadu, Telangana and Karnataka, and IT majors like Wipro, Infosys, TCS and HCLTech showcasing power of AI and technology. And this time, in addition to Indian tea, coffee, 'samosas' and 'kachoris', there will also be Indian liquor flying off the shelves during 'Spirit of India Hour' on two evenings at a few bars, restaurants and lounges. In all, 60-70 lounges and pavilions have been set up by governments and corporates from across the world, of which about a dozen are Indian ones. Indian participation is also significant with three union ministers, as many chief ministers and a large number of officials and CEOs expected to speak over the next five days. Apex industr

NSAs of several countries meet in Davos to discuss Ukraine peace formula

National security advisors of several countries met here on Sunday to discuss a peace formula for Ukraine, with India and many other nations pushing for the restoration of peace in the war-hit country. A representative of the Swiss Foreign Ministry, which co-hosted the meeting along with Ukraine, said, "By organising the meeting, Switzerland continues to support Ukraine in achieving this goal". This was the fourth NSA meeting on the peace formula proposed by Ukrainian President Volodymyr Zelenskyy in 2022, which follows ten principles aimed at ensuring a just and lasting peace in Ukraine. Earlier meetings have been held in Copenhagen, Jeddah and Malta. India has always pitched for restoration of peace in Ukraine, and Prime Minister Narendra Modi during his discussions with Zelenskyy said that India was ready to help in all possible manner to help restore peace. During his conversations with Russian President Vladimir Putin also, Modi said that it is not a time of war. Sources sai

5,000 army personnel deployed at Davos for tight security ahead of WEF meet

As Davos readies to host its annual talkfest of rich and powerful from across the world, nearly 5,000 army personnel have been deployed to help police and civilian authorities secure this small Alpine resort town. Davos is estimated to have a permanent population of just about 10,000 but is frequented throughout the year by tourists including skiing enthusiasts in ski season, but it is the week of the World Economic Forum Annual Meeting when it sees the maximum footfalls with at least 30,000 people in the town. Given the high-profile nature of the event, beginning Monday, the security is both discreet and visible and comprises snipers, drone jammers, regular frisking and checking and round-the-clock patrol. In addition to army personnel, there is a huge number of police men and women, support staff running into thousands and then nearly 3,000 world leaders are attending this year's summit, and so are over 500 journalists. And there is no less number of tourists, it being a ski ...