Page 11 - World Economic Forum

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 ...

India on top for trust in biz, NGOs; 4th for media, 5th in govt: Report

India tops the charts in terms of trust in businesses and NGOs, but it is fourth in terms of trust in media and fifth for the government, an annual trust barometer showed on Monday. The Edelman Trust Barometer 2024, released here ahead of the World Economic Forum Annual Meeting, put Saudi Arabia on the top for trust shown by their people in the government and China for trust in media. In terms of trust shown in one's employer, Indonesia emerged at the top followed by India at the second place. The 24th annual survey, which covered over 32,000 respondents across 28 countries, showed developing countries having a lead over developed ones in terms of overall trust perception of their respective populations. On the overall index, prepared on the basis of average per cent trust in NGOs, business, government and media, India moved to second place from fourth in 2023, while China retained its top spot. The UK replaced South Korea as the least trusted nation. The survey also showed less t

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

Hyundai Motor to spend $845 million fixing Talegaon plant bought from GM

Hyundai last year bought the General Motors factory in Talegaon, which has stood idle for years after the US company struggled to sell it off following its exit from the country

Hyundai Motor to spend $845 million fixing Talegaon plant bought from GM

Hyundai last year bought the General Motors factory in Talegaon, which has stood idle for years after the US company struggled to sell it off following its exit from the country

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 economic slowdown headed for worst phase in three decades: WEF study

Global economic growth is estimated to fall to its lowest rate in three decades by 2030 amid the ongoing economic and geopolitical shocks, a new report said on Monday. Releasing the Future of Growth Report 2024 here ahead of its annual meeting of world leaders, the World Economic Forum (WEF) said this downturn is exacerbating a range of interconnected global challenges, including the climate crisis and a weakening social contract, which are collectively reversing progress in global development. The report called for a new approach to economic growth that balances efficiency with long-term sustainability and equity, examining speed, and quality together. Analysing the quality of growth across 107 economies, it found that high-income economies score high on innovation and inclusion, while lower-income economies on sustainability. "Reigniting global growth will be essential to addressing key challenges, yet growth alone is not enough," WEF Managing Director Saadia Zahidi said. "The .

AI can help mfg, healthcare, other sectors scale new heights: Nadir Godrej

Business leader Nadir Godrej on Sunday said manufacturing, healthcare and other sectors in India can scale newer heights with the right use of artificial intelligence. Here to attend the World Economic Forum Annual Meeting, Godrej also said India can achieve its net-zero goals ahead of the deadline as the country is moving in the right direction on climate related matters. Speaking to PTI, he said AI has great potential to help various sectors by optimising processes and it should be seen as a facilitator rather than a disruptor. Godrej is chairman and managing director of business conglomerate Godrej Industries. Climate change, conflicts, geopolitical and geo-economic concerns and opportunities and threats posed by AI are among the key topics to be discussed at the five-day WEF annual meeting beginning here on Monday. Godrej said the meeting should yield several positive outcomes on areas like climate change, global economic concerns and conflict resolution.

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

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 ...

India remains a bright spot amid geopolitical tensions, says Nadir Godrej

'There are geopolitical challenges, but it does not affect India that much. India is in a bright spot'.

Green hydrogen can enable energy transition in net-zero journey: WEF report

Green hydrogen in India can not only provide energy for sectors such as fertilizers, chemicals, refining and iron, but also save carbon emissions compared to fossil fuels, the World Economic Forum said on Wednesday. In a detailed analysis of what it will take to make green hydrogen a credible energy pathway in India, the report said, "Green hydrogen can enable energy transition as India takes its net-zero journey towards 2070 while supporting its growing energy needs." Hydrogen produced through the electrolysis of water and powered by renewable energy, which is known as green hydrogen, is considered a clean, flexible and versatile energy carrier that can also help address the tension between energy supply and climate change, the report said. India is currently the third-largest economy in the world in terms of energy needs, and the country's demand for energy is set to surge. The demand is estimated to grow 35 per cent by 2030. In 2022, India's energy import bill was pegged at USD

Cyber inequity, AI key risks in 2024, says World Economic Forum study

AI advances pose more serious risk on elections that will be held this year across the world

5 ways to increase cyber resilience against increasingly diverse threats

All signs are that 2024 will be another challenging year, but by shifting practices and pursuing cooperation and best practice sharing, progress can be made

Govt, MDB coffers don't have trillions of dollars: World Bank chief Banga

World Bank President Ajay Banga on Tuesday batted for removing barriers to private sector investment, saying it is key to tackling challenges before the global economy as neither the governments nor multilateral banks have trillions of dollars in their coffers. Speaking to World Economic Forum Founder and Executive Chairman Klaus Schwab in a podcast ahead of the WEF Annual Meeting in Davos next week, Banga said the immediate challenges before the world are conflicts in Gaza and Ukraine as also the debt situation in several emerging markets. In the longer term, the major challenges remain poverty and inequality as also those related to the environment, the former Mastercard chief said. Banga, also a member of the World Economic Forum's Board of Trustees, will be among the key global leaders at the five-day WEF Davos summit beginning January 15. Asked what could be the solutions to the problems of inequality and poverty, Banga said, "the best way to solve, aside from creating better

From Chennai to Davos, it's a flying start for India Inc in New Year

Vibrant Gujarat, which is celebrating 20 years, is hoping to forge a record number of memorandum of understanding this year, surpassing its previous best of 28,360 signed in 2019

Global cooperation declining after resilience through 2012-2020: WEF study

The barometer release follows a year that was the hottest on record and saw escalating levels of conflict worldwide, but that also brought progress on climate action, trade agreements and innovation

Union ministers Vaishnaw, Irani, Puri, 2 CMs likely to attend WEF meet

Union ministers Ashwini Vaishnaw, Smriti Irani and Hardeep Singh Puri as well as Maharashtra Chief Minister Eknath Shinde and Karnataka Chief Minister Siddaramaiah are likely to visit the snow-laden picturesque Swiss resort town Davos next month for the World Economic Forum's Annual Meeting. RBI Governor Shaktikanta Das, India's G20 Sherpa Amitabh Kant and some ministers from Tamil Nadu, Uttar Pradesh and Telangana may also be in Davos for the annual gathering of rich and powerful from across the world. More than 100 Indian business leaders, including Gautam Adani, Mukesh Ambani, Kumar Mangalam Birla, N Chandrasekaran, Sajjan Jindal, Sunil Mittal, Rishad Premji and Adar Poonawalla, will also be in attendance. Also, more than 50 heads of states and governments from across the world are expected to attend the five-day annual meeting of the World Economic Forum (WEF), which describes itself as an international organisation for public private cooperation committed to improving the state