World political and business leaders left freezing temperatures in the Swiss mountain resort of Davos after a week of high-stakes meetings on key global issues at the 54th annual session of the World Economic Forum.
Here's what's new according to Reuters:
Near East
Gaza dominated the agenda at the World Economic Forum, but leaders failed to provide clear details on any practical path to Palestinian statehood, or on a ceasefire between Israel and the Palestinian militant group Hamas in Gaza.
The war is slowing down the economy of the entire Middle East, Qatar's finance minister said. The head of the Palestinian Investment Fund estimated that at least $15 billion will be needed to rebuild the houses in Gaza alone. The Arab states have said that they will not finance the reconstruction unless there is lasting peace.
"We agree that regional peace includes peace for Israel, but that can only happen through peace for the Palestinians through a Palestinian state," Saudi Foreign Minister Prince Faisal bin Farhan said.
Red Sea
Attacks by Yemen's Iran-aligned Houthi group on ships in the Red Sea are increasing the price of goods from Asia in Europe, logistics giant DP World said. CEOs in Davos said they were looking at alternative supply routes. Yemen's vice president and Iran's foreign minister said the attacks will not stop until Israel ends the war in Gaza.
"If it continues, it could be a problem," said Amin Nasser, CEO of oil giant Saudi Aramco.
China
Premier Li Jiang said in Davos that China's economy is open for business and highlighted its potential for foreign investment, but investors remained cautious amid China's slow recovery from the pandemic and its tensions with the US. Asked how helpful the closed-door lunch with Li was, one executive said "mediocre," underscoring skepticism about the "Chinese charm offensive."
Artificial intelligence
The story of artificial intelligence flowed through the boardrooms and panels at Davos, its promise of progress accompanied by a warning about the security risks cited by the Chinese premier. While discussions have included how to regulate the emerging technology and how to apply it to scientific discoveries, the question of how to "monetize" it remains open.
Debt restructuring
President-elect Javier Miley of Argentina made his debut speech on the main stage in Davos - then quickly sat down with International Monetary Fund Managing Director Kristalina Georgieva to discuss his plan to navigate his country's debt maze.
Ghana will re-engage with its international bondholders as it seeks to build momentum in debt restructuring.
"Free enterprise capitalism is the only tool we have to end hunger and poverty," Milei said.
Economy
Bank chiefs have warned of inflationary pressures due to increased transport costs and the possibility of higher oil prices. Bank executives fear that the market is misjudging interest rate cuts and that geopolitical risks could cause instability.
"This is a generally important year with many elections around the world that could potentially change the way fiscal stimulus is treated," said Suni Harford, president of asset management and group executive sustainability and impact at UBS.
Banking
Consolidation of European banks has been discussed behind closed doors, but executives say that cross-border bank mergers are difficult to achieve without uniform regulation at least across the region. Selective mergers of national players are thought to be more likely.
Energy
While several panels focused on phasing out fossil fuels, the head of Saudi Aramco told Reuters that oil demand would not peak anytime soon. The number of energy executives in Davos was smaller than in previous years. The oil chiefs of Shell, TotalEnergies and Aramco met on the sidelines to discuss how to help decarbonise the industries they supply, three industry sources said.
Ukraine
Along with other crises demanding attention, President Volodymyr Zelensky put Ukraine on the agenda in Davos at the start of the Forum's Annual Meeting. His talks with more than 80 national security advisers from around the world led to Switzerland offering to host the peace talks. Zelensky also met with bank leaders to seek financing for the reconstruction of Ukraine.
"Ukraine can win this war, but we must continue to strengthen its resistance," European Commission President Ursula von der Leyen said, urging Kiev's Western allies to continue supplying weapons and financial support.
Rod
The World Forum announced that women made up about 28 percent of the total of 3.000 participants, including 350 heads of state and government and ministers who gathered in Davos this year.
"This year marks a significant milestone in the 54-year history of the Annual Meeting, as we welcome more than 800 women to Davos, the largest number in our records," the statement said.
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