INSEAD Day 4 - 728x90

Google to invest $6.4bn

The investment is its biggest-ever in Germany.

Pfizer poised to buy Metsera

The pharma giant improved its offer to $10bn.

Ozempic maker lowers outlook

The company posted tepid Q3 results.

Kimberly-Clark to buy Kenvue

The deal is valued at $48.7 billion.

BYD Q3 profit down 33%

This was a 33% year-on-year decrease.

WEF says ‘will defer’ Davos meeting over Omicron fears

The World Economic Forum Annual Meeting 2024 is taking place from 15-19 January in Davos. (AFP)
  • Swiss authorities have recently stepped up health restrictions sharply to control a fifth coronavirus wave.
  • Forum chief Klaus Schwab promised "continued digital convening of leaders from business, government and civil society".

The World Economic Forum (WEF) said Monday it “will defer its annual meeting in Davos… in the light of continued uncertainty over the Omicron” variant of coronavirus.

The high-powered meeting scheduled for January 17-21, which usually draws leading figures from business, politics and diplomacy, will instead be held in “early summer”, the organizers said.

Last year’s edition was canceled because of the pandemic and Swiss authorities have recently stepped up health restrictions sharply to control a fifth coronavirus wave.

“Despite the meeting’s stringent health protocols, the transmissibility of Omicron and its impact on travel and mobility have made deferral necessary,” the WEF said.

The body will instead organize online “State of the World” sessions to get global leaders talking.

Forum chief Klaus Schwab promised “continued digital convening of leaders from business, government and civil society”.

“We look forward to bringing leaders together in person soon,” he added.

The Davos meeting in January 2021, held virtually because of the pandemic, came at the height of wrangles over vaccine distribution between wealthy and worse-off countries and the manufacturers.