INSEAD Day 4 - 728x90

Borouge okays $656m dividend

The company said dividend reflects its resilience

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

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.