Indian actress Deepika Padukone, who has been an advocate of mental health awareness and has been extensively working towards de-stigmatising mental illness, was rewarded for her work at World Economic Forum's Crystal Award ceremony, held in Davos on January 20. The actress was presented the award by Hilde Schwab, Chairwoman and co-founder of the World Economic Forum's World Art's Forum. Deepika Padukone runs the Live Love Laugh Foundation, which aims to help those struggling with their mental health. She came out in 2015 as having battled depression.

Deepika Padukone rewarded for her work at World Economic Forum in Davos

World leaders, chief executives, thinkers and celebrities are gathering in the Swiss mountain town of Davos for the World Economic Forum’s annual meeting.

World Economic Forum 2020 to be held in Switzerland's Davos

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Nearly 30 per cent of global business leaders believe that world economic growth will decline in the next 12 months -- a dip which roughly translates to six times the level of 5 per cent in 2018.&nbsp;

According to a survey conducted by PricewaterhouseCoopers, there prevails a gaping difference in the sentiment among global CEOs with regards to world economic growth. Over 1,300 CEOs were surveyed in September-October 2018, ahead of this year's&nbsp;<a href="http://www.wionews.com/world/imf-ceos-sound-warnings-as-leaders-gather-in-davos-191910">World Economic Forum event in Davos</a>, Switzerland.&nbsp;

This year's pessimism is in "vivid contrast to last year’s record jump, 29% to 57%, in optimism about global economic growth prospects," the survey found.&nbsp;

"Overall, CEOs’ views on global economic growth are more polarised this year but trending downward," the report stated.&nbsp;

The survey highlighted the United States as the top market for growth at 27%, significantly down from 46% in 2018. The second most attractive market, China, also saw its popularity fall to 24%, down from 33% in 2018.&nbsp;

"India is the rising star on the list," the released stated.&nbsp;

Taking a closer look at some country-specific results, CEOs’ confidence reflected the global drop attributed primarily to slowing world economies and looming trade tensions.&nbsp;

To drive revenue this year, CEOs plan to rely primarily on operational efficiencies at 77% and organic growth at 71%.&nbsp;

US retains top market slot for growth&nbsp;

The US retains its lead as the top market for growth over the next 12 months. Other global favourites include China, Germany, Indian and the UK.&nbsp;

“The turn away from the US market and shift in Chinese investment to other countries are reactions to the uncertainty surrounding the ongoing trade dispute between the US and China,” &nbsp;Bob Moritz, Global Chairman, PwC noted.

Threats to growth

Trade conflicts, policy uncertainty, and protectionism have replaced terrorism, climate change, and increasing tax burden in the top ten list of threats to growth, the report stated.&nbsp;

"Of CEOs ‘extremely concerned’ about trade conflicts, 88% are specifically uneasy about the trade issues between China and the US. Ninety-eight per cent of US CEOs and 90% of China’s CEOs have voiced these concerns," the release read.&nbsp;

Artificial intelligence

Again, there is no denying that the future of Artificial Intelligence (AI), and the future with AI, is bright. Global business leaders also resounded similar sentiment.&nbsp;

Eighty-five per cent of CEOs agree that AI will dramatically change their business over the next five years. Nearly two-thirds view it as something that will have a larger impact than the internet.&nbsp;

Meanwhile, the International Monetary Fund (IMF), In its World Economic Outlook report released on Monday, predicted the global economy will grow at 3.5 per cent in 2019 and 3.6 per cent in 2020, down 0.2 and 0.1 percentage point respectively from last October's forecasts, news agency Reuters reported.&nbsp;

"After two years of solid expansion, the world economy is growing more slowly than expected and risks are rising," IMF Managing Director Christine Lagarde told reporters.

"Does that mean a global recession is around the corner? No. But the risk of a sharper decline in global growth has certainly increased," she said, urging policymakers to brace for a "serious slowdown."

&nbsp;

Nearly 30 per cent of global business leaders believe that world economic growth will decline in the next 12 months -- a dip which roughly translates to six times the level of 5 per cent in 2018.

Nearly 30 per cent of global business leaders believe that world economic growth will decline in the next 12 months -- a dip which roughly translates to six times the level of 5 per cent in 2018. According to a survey conducted by PricewaterhouseCoopers, there prevails a gaping difference in the sentiment among global CEOs with regards to world economic growth. Over 1,300 CEOs were surveyed in September-October 2018, ahead of this year's World Economic Forum event in Davos, Switzerland. This year's pessimism is in "vivid contrast to last year’s record jump, 29% to 57%, in optimism about global economic growth prospects," the survey found. "Overall, CEOs’ views on global economic growth are more polarised this year but trending downward," the report stated. The survey highlighted the United States as the top market for growth at 27%, significantly down from 46% in 2018. The second most attractive market, China, also saw its popularity fall to 24%, down from 33% in 2018. "India is the rising star on the list," the released stated. Taking a closer look at some country-specific results, CEOs’ confidence reflected the global drop attributed primarily to slowing world economies and looming trade tensions. To drive revenue this year, CEOs plan to rely primarily on operational efficiencies at 77% and organic growth at 71%. US retains top market slot for growth The US retains its lead as the top market for growth over the next 12 months. Other global favourites include China, Germany, Indian and the UK. “The turn away from the US market and shift in Chinese investment to other countries are reactions to the uncertainty surrounding the ongoing trade dispute between the US and China,” Bob Moritz, Global Chairman, PwC noted. Threats to growth Trade conflicts, policy uncertainty, and protectionism have replaced terrorism, climate change, and increasing tax burden in the top ten list of threats to growth, the report stated. "Of CEOs ‘extremely concerned’ about trade conflicts, 88% are specifically uneasy about the trade issues between China and the US. Ninety-eight per cent of US CEOs and 90% of China’s CEOs have voiced these concerns," the release read. Artificial intelligence Again, there is no denying that the future of Artificial Intelligence (AI), and the future with AI, is bright. Global business leaders also resounded similar sentiment. Eighty-five per cent of CEOs agree that AI will dramatically change their business over the next five years. Nearly two-thirds view it as something that will have a larger impact than the internet. Meanwhile, the International Monetary Fund (IMF), In its World Economic Outlook report released on Monday, predicted the global economy will grow at 3.5 per cent in 2019 and 3.6 per cent in 2020, down 0.2 and 0.1 percentage point respectively from last October's forecasts, news agency Reuters reported. "After two years of solid expansion, the world economy is growing more slowly than expected and risks are rising," IMF Managing Director Christine Lagarde told reporters. "Does that mean a global recession is around the corner? No. But the risk of a sharper decline in global growth has certainly increased," she said, urging policymakers to brace for a "serious slowdown."

Ahead of Davos, global CEOs believe world economic growth will fall: Report

Klaus Schwab, who founded <a href="http://www.wionews.com/business-economy/indian-economy-doing-well-but-one-cant-be-complacent-world-economic-forum-president-to-wion-171077">the World Economic Forum (WEF)</a>, has said his childhood during World War II inspired him to build an organisation that would make the world a better place.

His foundation, which hosts many of the world's most powerful, famous and wealthy people at its annual meeting in the Swiss ski resort of Davos, has clearly made an impact.

But questions have grown about whether the organisation is meeting its declared goal of "improving the state of the world", with resentment rising against the pro-business Davos agenda, and voters turning instead to populist leaders.

One persistent criticism is that WEF meetings, including this week's main annual gathering in Davos, have simply created a safe space for the corporate world to lobby governments without oversight.

Schwab was not available for an interview with AFP but the WEF's managing director, Adrian Monck, said in an email that the organisation "subscribes to the highest standards of governance".

Schwab, born in Ravensburg, Germany, in 1938, was a little-known business professor at the University of Geneva when in 1971 he founded the WEF's precursor, the European Management Forum.

He later broadened the conclave by inviting US business leaders, assembling a prestigious Rolodex as he turned the gathering into a showcase for networking and exchange of ideas.

In a 2018 book, two Stockholm University professors chronicled the WEF's evolution, as over time politicians joined the business executives in Davos to give the forum the air of a United Nations, with a few celebrities thrown in.

"Against the backdrop of what is perceived to be malfunctioning global governance institutions and stalled international policymaking, the WEF presents itself as offering an alternative," Christina Garsten and Adrienne Sorbom write in "Discreet Power: How the World Economic Forum Shapes Market Agendas".

Over the years, success has bred success for the WEF as many of the world's movers and shakers vie to rub shoulders in the Swiss Alps at panel discussions and apres-ski socialising. Newer regional meetings have joined the Davos calendar.

The WEF's "fragile authority" relies on proving "that if you want to be part of the global nobility, then you have to be here," Sorbom told AFP.

She said the organisation appears to offer something lacking in other international bodies: a venue where the heads of business and government can meet "and possibly come up with some good ideas". But it has "troublesome aspects", she added.

With dozens of heads of state and government coming to Davos each year, the WEF can be seen as a body "without a legal mandate to influence global governance yet with an ambition to do so", Garsten and Sorbom write.

Oliver Classen of the Swiss NGO Public Eye, which has spearheaded protests and other campaigns to counter the Davos meeting, said the WEF has always been "fully dependent" on the 1,000 companies that support the foundation.

Membership to the Forum ranges from the equivalent of $ 60,000 (53,000 euros) to $ 600,000, fees that allow company representatives to attend Davos and other meetings throughout the year.

"Schwab seems to have a firm belief that making people talk to each other is an objective that justifies pretty much everything," Classen said. "What he does not realise is that... When the large majority of those people have commercial interests then it is about deal-striking and nothing else."&nbsp;

Monck, however, said that for the WEF, "multi-stakeholder engagement... Means respecting the opinions and interests of others".

The Davos meeting reportedly faced an existential threat in the early 2000s after sustained protests stretched the patience of the local community. In response, Schwab opened the meeting to more civil society groups while widening media access to an event that had previously been mostly held behind closed doors.

That move was not "voluntary", said Christian Dorer, the editor-in-chief of Swiss media group Blick, who recently had rare access to Schwab for a profile.

Schwab "realised he had to, otherwise the Forum would be dead," Dorer told AFP, also saying that the WEF founder had changed over the years.

"He was really only attached to the business world, and now he is much more open." Sorbom said her research showed an organisation that tolerated some dissent, up to a point.

"You can voice criticism, but if you are too critical, then you are out, unless you are Bono," she said.

Monck told AFP that if the principle of multi-stakeholder engagement is "not one you can sign up to, then the Forum is not the best platform for your engagement".&nbsp;

One persistent criticism is that WEF meetings, including this week's main annual gathering in Davos, have simply created a safe space for the corporate world to lobby governments without oversight.

Klaus Schwab, who founded the World Economic Forum (WEF), has said his childhood during World War II inspired him to build an organisation that would make the world a better place. His foundation, which hosts many of the world's most powerful, famous and wealthy people at its annual meeting in the Swiss ski resort of Davos, has clearly made an impact. But questions have grown about whether the organisation is meeting its declared goal of "improving the state of the world", with resentment rising against the pro-business Davos agenda, and voters turning instead to populist leaders. One persistent criticism is that WEF meetings, including this week's main annual gathering in Davos, have simply created a safe space for the corporate world to lobby governments without oversight. Schwab was not available for an interview with AFP but the WEF's managing director, Adrian Monck, said in an email that the organisation "subscribes to the highest standards of governance". Schwab, born in Ravensburg, Germany, in 1938, was a little-known business professor at the University of Geneva when in 1971 he founded the WEF's precursor, the European Management Forum. He later broadened the conclave by inviting US business leaders, assembling a prestigious Rolodex as he turned the gathering into a showcase for networking and exchange of ideas. In a 2018 book, two Stockholm University professors chronicled the WEF's evolution, as over time politicians joined the business executives in Davos to give the forum the air of a United Nations, with a few celebrities thrown in. "Against the backdrop of what is perceived to be malfunctioning global governance institutions and stalled international policymaking, the WEF presents itself as offering an alternative," Christina Garsten and Adrienne Sorbom write in "Discreet Power: How the World Economic Forum Shapes Market Agendas". Over the years, success has bred success for the WEF as many of the world's movers and shakers vie to rub shoulders in the Swiss Alps at panel discussions and apres-ski socialising. Newer regional meetings have joined the Davos calendar. The WEF's "fragile authority" relies on proving "that if you want to be part of the global nobility, then you have to be here," Sorbom told AFP. She said the organisation appears to offer something lacking in other international bodies: a venue where the heads of business and government can meet "and possibly come up with some good ideas". But it has "troublesome aspects", she added. With dozens of heads of state and government coming to Davos each year, the WEF can be seen as a body "without a legal mandate to influence global governance yet with an ambition to do so", Garsten and Sorbom write. Oliver Classen of the Swiss NGO Public Eye, which has spearheaded protests and other campaigns to counter the Davos meeting, said the WEF has always been "fully dependent" on the 1,000 companies that support the foundation. Membership to the Forum ranges from the equivalent of $ 60,000 (53,000 euros) to $ 600,000, fees that allow company representatives to attend Davos and other meetings throughout the year. "Schwab seems to have a firm belief that making people talk to each other is an objective that justifies pretty much everything," Classen said. "What he does not realise is that... When the large majority of those people have commercial interests then it is about deal-striking and nothing else." Monck, however, said that for the WEF, "multi-stakeholder engagement... Means respecting the opinions and interests of others". The Davos meeting reportedly faced an existential threat in the early 2000s after sustained protests stretched the patience of the local community. In response, Schwab opened the meeting to more civil society groups while widening media access to an event that had previously been mostly held behind closed doors. That move was not "voluntary", said Christian Dorer, the editor-in-chief of Swiss media group Blick, who recently had rare access to Schwab for a profile. Schwab "realised he had to, otherwise the Forum would be dead," Dorer told AFP, also saying that the WEF founder had changed over the years. "He was really only attached to the business world, and now he is much more open." Sorbom said her research showed an organisation that tolerated some dissent, up to a point. "You can voice criticism, but if you are too critical, then you are out, unless you are Bono," she said. Monck told AFP that if the principle of multi-stakeholder engagement is "not one you can sign up to, then the Forum is not the best platform for your engagement".

Has Davos made the world better?

World Economic Forum President Borge Brende was in New Delhi recently. Brende, who is the former foreign minister of Norway, spoke extensively with WION's Principal Diplomatic Correspondent Sidhant Sibal on a host of issues from #MeToo, to global economic growth, to India's reform process.&nbsp;

Sidhant Sibal: What brings you here?&nbsp; 
Borge Brende: We are formally marking the opening of the centre for the 4th Industrial Revolution. It's a cooperation between WEF and important businesses. It's a follow up of PM Modi's speech at Davos that India will leapfrog and will be on top of 4th Industrial Revolution. It is a great collaboration.&nbsp;

SS: How do you see India's reform process? 
BB: Indian economy is doing well. But one can't be complacent. India is the sixth-largest economy and seeing the fastest economic growth of any of the leading economies. Eight per cent growth expected this year is an achievement. To keep that kind of growth in a difficult environment where we are seeing a lot of risk factors — overheating, inflationary pressure — India needs to keep reform going.

SS: And ease of doing business has improved in the country... 
BB: That is positive and I hope this will continue. There should be Investment in education and infrastructure moving forward and make sure India is leading in new technologies like blockchain, artificial intelligence and drones.

SS: The focus of your visit is the 4th Industrial Revolution. What are its basic pillars? 
BB: 4th Industrial Revolution is really technologies being introduced that are changing things at an unprecedented pace. Artificial intelligence is one piece of it. We have 3D printing, block chains, precision medicine, autonomous vehicles and if you're not on top of it, you are going to lose out to international competition. For India which has a young population, these are great opportunities provided you have necessary skills in mathematics, and also in computer science.

SS: India has programmes like Digital India or payment platforms like BHIM. What would you say about them? 
BB: These reforms are critical. They are not sufficient because in the 4th Industrial Revolution we will need skills and world-class education. It is very important to make sure that the young population has access to quality education based on that you can make sure you have right abilities to capitalise of opportunities. 1.3 billion people can have positive outcomes of these technologies.&nbsp;

SS: Trade war has broken out. There is political protectionism. How will it impact global growth? 
BB: The world economy is looking strong. 3.8% economic growth this year and also next year but you are right, there are risk factors that need to be addressed. Trade is one of them. Trade has changed a lot in the last decade. If you say this is made in India due to the global value chain, maybe 50% is produced somewhere else. It's put together in India. So trade barriers and tariffs can also hurt existing industries in countries that are introducing these barriers. In a globalised world, all are in the same boat and we have to act accordingly. Currently, we are not seeing this. There are opportunities to solve this. There were big challenges on NAFTA — between US, Mexico and Canada. They agreed on a new trade deal, hope this spirit will reach other trade negotiations.

SS: What is your take on the #MeToo movement? It is gathering pace in India...&nbsp; 
BB: &nbsp;Gender and rights of women are very important. What we have seen at WEF and also via reports, companies that take gender issues and sustainable issues very seriously, recruit smarter people and best people. These companies move from capitalism to talentism. These companies are more profitable. They recruit better talent. Young people want to work in progressive companies.

World Economic Forum President Borge Brende was in New Delhi recently. Brende, who is the former foreign minister of Norway, spoke extensively with WION's Principal Diplomatic Correspondent Sidhant Sibal on a host of issues from #MeToo, to global economic growth, to India's reform process.

World Economic Forum President Borge Brende was in New Delhi recently. Brende, who is the former foreign minister of Norway, spoke extensively with WION's Principal Diplomatic Correspondent Sidhant Sibal on a host of issues from #MeToo, to global economic growth, to India's reform process. Sidhant Sibal: What brings you here? Borge Brende: We are formally marking the opening of the centre for the 4th Industrial Revolution. It's a cooperation between WEF and important businesses. It's a follow up of PM Modi's speech at Davos that India will leapfrog and will be on top of 4th Industrial Revolution. It is a great collaboration. SS: How do you see India's reform process? BB: Indian economy is doing well. But one can't be complacent. India is the sixth-largest economy and seeing the fastest economic growth of any of the leading economies. Eight per cent growth expected this year is an achievement. To keep that kind of growth in a difficult environment where we are seeing a lot of risk factors — overheating, inflationary pressure — India needs to keep reform going. SS: And ease of doing business has improved in the country... BB: That is positive and I hope this will continue. There should be Investment in education and infrastructure moving forward and make sure India is leading in new technologies like blockchain, artificial intelligence and drones. SS: The focus of your visit is the 4th Industrial Revolution. What are its basic pillars? BB: 4th Industrial Revolution is really technologies being introduced that are changing things at an unprecedented pace. Artificial intelligence is one piece of it. We have 3D printing, block chains, precision medicine, autonomous vehicles and if you're not on top of it, you are going to lose out to international competition. For India which has a young population, these are great opportunities provided you have necessary skills in mathematics, and also in computer science. SS: India has programmes like Digital India or payment platforms like BHIM. What would you say about them? BB: These reforms are critical. They are not sufficient because in the 4th Industrial Revolution we will need skills and world-class education. It is very important to make sure that the young population has access to quality education based on that you can make sure you have right abilities to capitalise of opportunities. 1.3 billion people can have positive outcomes of these technologies. SS: Trade war has broken out. There is political protectionism. How will it impact global growth? BB: The world economy is looking strong. 3.8% economic growth this year and also next year but you are right, there are risk factors that need to be addressed. Trade is one of them. Trade has changed a lot in the last decade. If you say this is made in India due to the global value chain, maybe 50% is produced somewhere else. It's put together in India. So trade barriers and tariffs can also hurt existing industries in countries that are introducing these barriers. In a globalised world, all are in the same boat and we have to act accordingly. Currently, we are not seeing this. There are opportunities to solve this. There were big challenges on NAFTA — between US, Mexico and Canada. They agreed on a new trade deal, hope this spirit will reach other trade negotiations. SS: What is your take on the #MeToo movement? It is gathering pace in India... BB: Gender and rights of women are very important. What we have seen at WEF and also via reports, companies that take gender issues and sustainable issues very seriously, recruit smarter people and best people. These companies move from capitalism to talentism. These companies are more profitable. They recruit better talent. Young people want to work in progressive companies.

Indian economy doing well but one can't be complacent: WEF President to WION

Bollywood superstar Shah Rukh Khan attended a celebrity event before the official start of the World Economic Forum&#39;s annual event at Davos on Tuesday.&nbsp;

The 52-year-old actor spoke against discrimination against women and sexism.&nbsp;

&quot;From them, I have learned how courage can catalyse victimhood into heroism,&quot; he said, referring to the acid victims.&nbsp;

&quot;We, the powerful, need to get out of the way, to pick the barriers apart, the ones that give us names and races and colours and hierarchies,&quot; he said.

&quot;That is what I have learned from my beautifully scarred women,&quot; he added.

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Extremely charged that I&#39;ve had this amazing opportunity, this award, being recognized like this for minuscule work that I did, I&#39;d like to do it with even more fervor. What is even more pleasant is that India is here in full power: Shah Rukh Khan in Davos <a href="https://twitter.com/hashtag/WorldEconomicForum2018?src=hash&amp;ref_src=twsrc%5Etfw">#WorldEconomicForum2018</a> <a href="https://t.co/aWQI99YAE3">pic.twitter.com/aWQI99YAE3</a>
&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/955530330638659584?ref_src=twsrc%5Etfw">January 22, 2018</a></blockquote>
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The Raees actor also received an award for his charitable work for acid attack victims.

Other international celebrities in attendance included actress Cate Blanchett and singer Sir Elton John.&nbsp;

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<a href="https://twitter.com/TwitterMoments?ref_src=twsrc%5Etfw">@TwitterMoments</a> 
 
World Renowned Star Shah Rukh Khan ( <a href="https://twitter.com/iamsrk?ref_src=twsrc%5Etfw">@iamsrk</a> ) &amp; Hollywood Actress Cate Blanchett Clicked Together at <a href="https://twitter.com/hashtag/WorldEconomicForum2018?src=hash&amp;ref_src=twsrc%5Etfw">#WorldEconomicForum2018</a> DAVOS CrystalAwards .. 
 
Recognised by WEF for Humanatarian Cause globally ????????<a href="https://twitter.com/hashtag/WEF18?src=hash&amp;ref_src=twsrc%5Etfw">#WEF18</a> <a href="https://twitter.com/hashtag/WorldEconomicForum?src=hash&amp;ref_src=twsrc%5Etfw">#WorldEconomicForum</a> <a href="https://twitter.com/hashtag/Davos2018?src=hash&amp;ref_src=twsrc%5Etfw">#Davos2018</a> <a href="https://twitter.com/hashtag/CrystalAwards?src=hash&amp;ref_src=twsrc%5Etfw">#CrystalAwards</a> <a href="https://t.co/IktnBm2lfH">pic.twitter.com/IktnBm2lfH</a>
&mdash; World Economic Forum (@DavosWef) <a href="https://twitter.com/DavosWef/status/955574592302587904?ref_src=twsrc%5Etfw">January 22, 2018</a></blockquote>
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You make India proud always ❤️ <a href="https://twitter.com/iamsrk?ref_src=twsrc%5Etfw">@iamsrk</a> gets honored at the World Economic Forum for his humanitarian work.. <a href="https://t.co/wc4zFoUT9z">pic.twitter.com/wc4zFoUT9z</a>
&mdash; Pooja Dadlani (@pooja_dadlani) <a href="https://twitter.com/pooja_dadlani/status/955552366945816576?ref_src=twsrc%5Etfw">January 22, 2018</a></blockquote>
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&nbsp;

The Australian actress received an award for her work with refugees while the legendary British singer was felicitated with an award for his campaign on HIV/AIDS.

This year&#39;s Davos meet brings over 3,000 delegates from business, politics and civil society.

The forum will see a host of events and sessions discussing how to &quot;make the world a better place&quot;.

Other issues of significance at this year&#39;s event include gender equality, sexual harassment.&nbsp;

(With inputs from AFP)&nbsp;

The 'Raees' actor also received an award for his for his charitable work for acid attack victims.

Bollywood superstar Shah Rukh Khan attended a celebrity event before the official start of the World Economic Forum's annual event at Davos on Tuesday. The 52-year-old actor spoke against discrimination against women and sexism. "From them, I have learned how courage can catalyse victimhood into heroism," he said, referring to the acid victims. "We, the powerful, need to get out of the way, to pick the barriers apart, the ones that give us names and races and colours and hierarchies," he said. "That is what I have learned from my beautifully scarred women," he added. Extremely charged that I've had this amazing opportunity, this award, being recognized like this for minuscule work that I did, I'd like to do it with even more fervor. What is even more pleasant is that India is here in full power: Shah Rukh Khan in Davos #WorldEconomicForum2018 pic.twitter.com/aWQI99YAE3 — ANI (@ANI) January 22, 2018 × The Raees actor also received an award for his charitable work for acid attack victims. Other international celebrities in attendance included actress Cate Blanchett and singer Sir Elton John. @TwitterMoments World Renowned Star Shah Rukh Khan ( @iamsrk ) & Hollywood Actress Cate Blanchett Clicked Together at #WorldEconomicForum2018 DAVOS CrystalAwards .. Recognised by WEF for Humanatarian Cause globally ????????#WEF18 #WorldEconomicForum #Davos2018 #CrystalAwards pic.twitter.com/IktnBm2lfH — World Economic Forum (@DavosWef) January 22, 2018 × You make India proud always ❤️ @iamsrk gets honored at the World Economic Forum for his humanitarian work.. pic.twitter.com/wc4zFoUT9z — Pooja Dadlani (@pooja_dadlani) January 22, 2018 × The Australian actress received an award for her work with refugees while the legendary British singer was felicitated with an award for his campaign on HIV/AIDS. This year's Davos meet brings over 3,000 delegates from business, politics and civil society. The forum will see a host of events and sessions discussing how to "make the world a better place". Other issues of significance at this year's event include gender equality, sexual harassment. (With inputs from AFP)

We the powerful need to get out of the way to pick barriers apart: Shah Rukh Khan at Davos

While addressing the World Economic&nbsp;Forum in Davos, Switzerland, Prime minister Narendra Modi delivered the Indian ideology of &quot;Vasudhaiva Kutumbakam&quot; meaning World is One.&nbsp;

He asked the countries to bridge distances between them.&nbsp;

PM Modi said, &quot; India has always believed in values of integration and unity, &quot; Vasudhaiva Kutumbakam&quot; which means the entire world is one family. It is relevant to bridge distances&quot;.&nbsp;

Referring to the topic of the WEF,&quot; Creating a shared future in fractured world&quot;&nbsp;he said the world is facing challenges in maintaining peace, stability and security. &quot;&nbsp;

He said the topic here is &quot; Creating a shared future in a fractured world&quot;. New powers are changing the balance between&nbsp;Economic and Political Strength. This is indicating a change in future of the world. World is facing challenges in maintaining&nbsp;peace, stability and security.&nbsp;

He further highlighted the threat of shrinking globalisation and called it a greater threat than terrorism or climatic change.&nbsp;

He said &quot; Many societies and countries are becoming self-centred. It seems that globalisation, as opposed to its definition, is shrinking. Such misplaced preferences can&#39;t be considered any lesser threat than terrorism or climate change. We must admit shine of globalisation&nbsp;is fading.&quot;

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India has always believed in values of integration and unity, &#39;Vasudhaiva Kutumbakam&#39; which means the entire world is one family. It is relevant to bridge distances: PM Narendra Modi at <a href="https://twitter.com/hashtag/WorldEconomicForum?src=hash&amp;ref_src=twsrc%5Etfw">#WorldEconomicForum</a> <a href="https://twitter.com/hashtag/Davos?src=hash&amp;ref_src=twsrc%5Etfw">#Davos</a> <a href="https://t.co/Agf28sd6w2">pic.twitter.com/Agf28sd6w2</a>
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This year the topic here is &#39;Creating a shared future in a fractured world&#39;. New powers are changing the balance between Economic &amp; Political strength. This is indicating a change in future of the world. World is facing challenges in maintaining peace, stability &amp; security: PM <a href="https://t.co/ZghYmYXK55">pic.twitter.com/ZghYmYXK55</a>
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Many societies &amp; countries are becoming self-centred. It seems that gloabalisation, as opposed to its definition, is shrinking. Such misplaced preferences can&#39;t be considered any lesser threat than terrorism or climate change. We must admit shine of globalisation is fading: PM <a href="https://t.co/lWtH97NU6A">pic.twitter.com/lWtH97NU6A</a>
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While addressing the World Economic Forum in Davos, Switzerland, Prime minister Narendra Modi delivered the Indian ideology of 'Vasudhaiva Kutumbakam' meaning World is One

While addressing the World Economic Forum in Davos, Switzerland, Prime minister Narendra Modi delivered the Indian ideology of "Vasudhaiva Kutumbakam" meaning World is One. He asked the countries to bridge distances between them. PM Modi said, " India has always believed in values of integration and unity, " Vasudhaiva Kutumbakam" which means the entire world is one family. It is relevant to bridge distances". Referring to the topic of the WEF," Creating a shared future in fractured world" he said the world is facing challenges in maintaining peace, stability and security. " He said the topic here is " Creating a shared future in a fractured world". New powers are changing the balance between Economic and Political Strength. This is indicating a change in future of the world. World is facing challenges in maintaining peace, stability and security. He further highlighted the threat of shrinking globalisation and called it a greater threat than terrorism or climatic change. He said " Many societies and countries are becoming self-centred. It seems that globalisation, as opposed to its definition, is shrinking. Such misplaced preferences can't be considered any lesser threat than terrorism or climate change. We must admit shine of globalisation is fading." India has always believed in values of integration and unity, 'Vasudhaiva Kutumbakam' which means the entire world is one family. It is relevant to bridge distances: PM Narendra Modi at #WorldEconomicForum #Davos pic.twitter.com/Agf28sd6w2 — ANI (@ANI) January 23, 2018 × This year the topic here is 'Creating a shared future in a fractured world'. New powers are changing the balance between Economic & Political strength. This is indicating a change in future of the world. World is facing challenges in maintaining peace, stability & security: PM pic.twitter.com/ZghYmYXK55 — ANI (@ANI) January 23, 2018 × Many societies & countries are becoming self-centred. It seems that gloabalisation, as opposed to its definition, is shrinking. Such misplaced preferences can't be considered any lesser threat than terrorism or climate change. We must admit shine of globalisation is fading: PM pic.twitter.com/lWtH97NU6A — ANI (@ANI) January 23, 2018 ×

Countries to bridge distances between them: PM Modi at Davos

US President Donald Trump strode into the lion&#39;s den to confront the world&#39;s political and business elite on Thursday, as his &quot;America First&quot; administration executes an anti-globalist manifesto in trade, taxes and currency rates.

A year after taking office, Trump joined the World Economic Forum in Davos with foreign exchange markets in turmoil and Washington&#39;s trading partners in uproar.

Taking on one storm, he insisted that he wants to see &quot;a strong dollar,&quot; after comments by his treasury secretary appearing to signal the opposite sent the US currency plunging to three-year lows and provoked anger in Europe.

Trump smiled and waved on his arrival at the gathering in the Swiss Alps, as crowds of onlookers held up camera phones. One woman admirer grabbed Trump&#39;s autograph while other delegates muttered -- out of his earshot -- about wanting to pelt him with fruit.

The former property mogul held one-on-one meetings with the British and Israeli prime ministers. Then, having demonised the globalist Davos crowd on his unorthodox march to the White House, he went on to a gala reception and dinner with European business chiefs attending the gathering.

Interviewed on CNBC, Trump said there was no contradiction between his populist campaign and his decision to come to the headquarters of the global elite.

&quot;When I decided to come to Davos, I didn&#39;t think in terms of elitist or globalist, I thought in terms of lots of people that want to invest lots of money and they&#39;re all coming back to the United States, they&#39;re coming back to America,&quot; he said.

Basking in near-daily highs on Wall Street and accelerating US growth, he added: &quot;It&#39;s about coming to America, investing in money, creating jobs, companies coming in, we&#39;re setting records every week, every day, we&#39;re setting records.&quot;

Anti-Trump messages 
Seeking to demonise the president in turn was Swiss activist group Campax, which hung a giant banner on an Alpine peak near Davos reading &quot;Trump not welcome&quot;, and Greenpeace, which beamed anti-Trump laser messages onto another mountain.

At an annual dinner he hosts in Davos, billionaire financier George Soros was equally blunt. &quot;I consider the Trump administration a danger to the world,&quot; he said. &nbsp;

Trump is due to address the forum on its closing day Friday, at the end of a week that saw his administration announce a new package of trade tariffs targeting China and South Korea, and spark upheaval on the currency markets.

&quot;I think the most fascinating thing with President Trump is that he has the capacity to surprise, and I&#39;m sure we will be surprised tomorrow,&quot; Alexander Stubb, former prime minister of Finland and the new vice president of the European Investment Bank, told AFP in Davos.

Forex rows 
Traders and US partners already had one surprise in Davos this week when Treasury Secretary Steven Mnuchin appeared to back away from decades of support by his predecessors for a &quot;strong dollar&quot; policy. He declared &quot;a weaker dollar is good for us&quot;, flouting US commitments in international fora such as the G20.

International Monetary Fund chief Christine Lagarde on Thursday urged Mnuchin to &quot;clarify&quot; his stance on the dollar. European Central Bank head Mario Draghi reminded trading partners to &quot;refrain&quot; from language that could cause currency volatility.

A weak dollar would potentially boost US exporters but cause headaches for all other trading nations.

In comments to CNBC that helped the dollar recover some lost ground, Trump said Mnuchin had been misquoted.

The Treasury secretary told reporters Thursday: &quot;We are not concerned with where the dollar is in the short term, it is a very liquid market and we believe in free currencies.&quot;

But Mnuchin&#39;s apparently hands-off approach was taken as reinforcing a broad offensive in trade built on the &quot;America First&quot; platform.

It drew the ire of French Finance Minister Bruno Le Maire.

&quot;We want exchange rates to reflect economic fundamentals... and we shouldn&#39;t play with these rates,&quot; Le Maire said in Davos.

Business leaders in Davos have this week offered a broad welcome to controversial tax reforms enacted by Trump&#39;s Republicans, which slashed the headline rate of US corporate tax. But European political leaders fear a &quot;race to the bottom&quot; as the United States jockeys for an edge among foreign investors.

Nice or nasty? 
A year ago, the Davos spotlight was claimed by China&#39;s communist leader Xi Jinping, who took up the torch of global trade to the delight of the well-heeled audience then anxious about Trump&#39;s inauguration.

The Davos elite are keen now to see which version of Trump will speak on Friday -- the business-friendly tycoon or the leader who berated the rest of the world at the UN General Assembly last September.

&quot;I think they&#39;ve already built down their expectations so far that anything he may say that&#39;s conciliatory, they&#39;ll be grateful for,&quot; Robert Kaplan, senior fellow at Washington&#39;s Center for a New American Security, told AFP at the forum.

French President Emmanuel Macron and German Chancellor Angela Merkel &quot;stole the show&quot; at Davos already, Kaplan added, after the European leaders used separate speeches on Wednesday to push back hard against the Trump manifesto.

Trump smiled and waved on his arrival at the gathering in the Swiss Alps, as crowds of onlookers held up camera phones

US President Donald Trump strode into the lion's den to confront the world's political and business elite on Thursday, as his "America First" administration executes an anti-globalist manifesto in trade, taxes and currency rates. A year after taking office, Trump joined the World Economic Forum in Davos with foreign exchange markets in turmoil and Washington's trading partners in uproar. Taking on one storm, he insisted that he wants to see "a strong dollar," after comments by his treasury secretary appearing to signal the opposite sent the US currency plunging to three-year lows and provoked anger in Europe. Trump smiled and waved on his arrival at the gathering in the Swiss Alps, as crowds of onlookers held up camera phones. One woman admirer grabbed Trump's autograph while other delegates muttered -- out of his earshot -- about wanting to pelt him with fruit. The former property mogul held one-on-one meetings with the British and Israeli prime ministers. Then, having demonised the globalist Davos crowd on his unorthodox march to the White House, he went on to a gala reception and dinner with European business chiefs attending the gathering. Interviewed on CNBC, Trump said there was no contradiction between his populist campaign and his decision to come to the headquarters of the global elite. "When I decided to come to Davos, I didn't think in terms of elitist or globalist, I thought in terms of lots of people that want to invest lots of money and they're all coming back to the United States, they're coming back to America," he said. Basking in near-daily highs on Wall Street and accelerating US growth, he added: "It's about coming to America, investing in money, creating jobs, companies coming in, we're setting records every week, every day, we're setting records." Anti-Trump messages Seeking to demonise the president in turn was Swiss activist group Campax, which hung a giant banner on an Alpine peak near Davos reading "Trump not welcome", and Greenpeace, which beamed anti-Trump laser messages onto another mountain. At an annual dinner he hosts in Davos, billionaire financier George Soros was equally blunt. "I consider the Trump administration a danger to the world," he said. Trump is due to address the forum on its closing day Friday, at the end of a week that saw his administration announce a new package of trade tariffs targeting China and South Korea, and spark upheaval on the currency markets. "I think the most fascinating thing with President Trump is that he has the capacity to surprise, and I'm sure we will be surprised tomorrow," Alexander Stubb, former prime minister of Finland and the new vice president of the European Investment Bank, told AFP in Davos. Forex rows Traders and US partners already had one surprise in Davos this week when Treasury Secretary Steven Mnuchin appeared to back away from decades of support by his predecessors for a "strong dollar" policy. He declared "a weaker dollar is good for us", flouting US commitments in international fora such as the G20. International Monetary Fund chief Christine Lagarde on Thursday urged Mnuchin to "clarify" his stance on the dollar. European Central Bank head Mario Draghi reminded trading partners to "refrain" from language that could cause currency volatility. A weak dollar would potentially boost US exporters but cause headaches for all other trading nations. In comments to CNBC that helped the dollar recover some lost ground, Trump said Mnuchin had been misquoted. The Treasury secretary told reporters Thursday: "We are not concerned with where the dollar is in the short term, it is a very liquid market and we believe in free currencies." But Mnuchin's apparently hands-off approach was taken as reinforcing a broad offensive in trade built on the "America First" platform. It drew the ire of French Finance Minister Bruno Le Maire. "We want exchange rates to reflect economic fundamentals... and we shouldn't play with these rates," Le Maire said in Davos. Business leaders in Davos have this week offered a broad welcome to controversial tax reforms enacted by Trump's Republicans, which slashed the headline rate of US corporate tax. But European political leaders fear a "race to the bottom" as the United States jockeys for an edge among foreign investors. Nice or nasty? A year ago, the Davos spotlight was claimed by China's communist leader Xi Jinping, who took up the torch of global trade to the delight of the well-heeled audience then anxious about Trump's inauguration. The Davos elite are keen now to see which version of Trump will speak on Friday -- the business-friendly tycoon or the leader who berated the rest of the world at the UN General Assembly last September. "I think they've already built down their expectations so far that anything he may say that's conciliatory, they'll be grateful for," Robert Kaplan, senior fellow at Washington's Center for a New American Security, told AFP at the forum. French President Emmanuel Macron and German Chancellor Angela Merkel "stole the show" at Davos already, Kaplan added, after the European leaders used separate speeches on Wednesday to push back hard against the Trump manifesto.

Trump touts 'America First' to sceptical Davos elite

PM Modi slipped into a short session with the CEOs and business leaders ahead of his keynote address at the World Economic Forum event at Davos yesterday.&nbsp;

The Prime Minister was supposed to begin his address at 11.15 am (around 3.30 pm IST) at Davos. He got in for a quick chat with business leaders slightly ahead of his opening plenary session.&nbsp;

During his meeting, PM Modi hinted at the possibility of a tougher budget this time saying that, &quot;Why are all of you not smiling? You seem to be pleased with me now but just wait for the budget.&quot;

Prime Minister Narendra Modi also held a roundtable meet with CEOs on Monday evening mentioning that &#39;India means business&#39;.

PM Modi then rushed for his keynote address at the Davos event which lasted for almost an hour where he highlighted the key achievements of his administration.&nbsp;

&quot;India is removing the red tape and laying out the red carpet,&quot; said Mr Modi.

&quot;Almost all areas of our economy have been opened to foreign direct investment,&quot; he added.&nbsp;

He later met with his Canadian counterpart to address bilateral ties.&nbsp;

Prime Minister Narendra Modi reached India early morning today after a &quot;historic and successful participation&quot; at the World Economic Forum (WEF) annual summit.

PM Modi became the first Indian prime minister to attend the summit in two decades.

The prime minister is expected to meet his cabinet today.

He will also interact with the Vietnamese Prime Minister, the President of Philippines and State Counsellor of Myanmar Daw, Aung San Suu Kyi later in the day.&nbsp;

PM Modi slipped into a short session with the CEOs and business leaders ahead of his keynote address at Davos.

PM Modi slipped into a short session with the CEOs and business leaders ahead of his keynote address at the World Economic Forum event at Davos yesterday. The Prime Minister was supposed to begin his address at 11.15 am (around 3.30 pm IST) at Davos. He got in for a quick chat with business leaders slightly ahead of his opening plenary session. During his meeting, PM Modi hinted at the possibility of a tougher budget this time saying that, "Why are all of you not smiling? You seem to be pleased with me now but just wait for the budget." Prime Minister Narendra Modi also held a roundtable meet with CEOs on Monday evening mentioning that 'India means business'. PM Modi then rushed for his keynote address at the Davos event which lasted for almost an hour where he highlighted the key achievements of his administration. "India is removing the red tape and laying out the red carpet," said Mr Modi. "Almost all areas of our economy have been opened to foreign direct investment," he added. He later met with his Canadian counterpart to address bilateral ties. Prime Minister Narendra Modi reached India early morning today after a "historic and successful participation" at the World Economic Forum (WEF) annual summit. PM Modi became the first Indian prime minister to attend the summit in two decades. The prime minister is expected to meet his cabinet today. He will also interact with the Vietnamese Prime Minister, the President of Philippines and State Counsellor of Myanmar Daw, Aung San Suu Kyi later in the day.

You seem pleased with me now but just wait for the Budget: PM Modi to CEOs

India was today ranked at the 62nd place among emerging economies on an Inclusive Development Index, much below China&#39;s 26th position and Pakistan&#39;s 47th.

Norway remains the world&#39;s most inclusive advanced economy, while Lithuania again tops the list of emerging economies, the <a href="http://www.wionews.com/india-news/look-forward-to-first-visit-at-world-economic-forum-pm-modi-30319" target="_blank">World Economic Forum (WEF)</a> said while releasing the yearly index here before the start of its annual meeting, to be attended by several world leaders including Prime Minister Narendra Modi and US President Donald Trump.

The index takes into account the &quot;living standards, environmental sustainability and protection of future generations from further indebtedness&quot;, the WEF said. It urged the leaders to urgently move to a new model of inclusive growth and development, saying reliance on GDP as a measure of economic achievement is fuelling short-termism and inequality.

India was ranked 60th among 79 developing economies last year, as against China&#39;s 15th and Pakistan&#39;s 52nd position.

The 2018 index, which measures the progress of 103 economies on three individual pillars -- growth and development; inclusion; and inter-generational equity -- has been divided into two parts. The first part covers 29 advanced economies and the second 74 emerging economies.

The index has also classified the countries into five sub-categories in terms of the five-year trend of their overall Inclusive Development Growth score -- receding, slowly receding, stable, slowly advancing and advancing.

Despite its low overall score, India is among the ten emerging economies with &#39;advancing&#39; trend. Only two advanced economies have shown &#39;advancing&#39; trend.

Among advanced economies, Norway is followed by Ireland, Luxembourg, Switzerland and Denmark in the top five.

Small European economies dominate the top of the index, with Australia (9) the only non-European economy in the top 10. Of the G7 economies, Germany (12) ranks the highest. It is followed by Canada (17), France (18), the UK (21), the US (23), Japan (24) and Italy (27).

The top-five most inclusive emerging economies are Lithuania, Hungary, Azerbaijan, Latvia and Poland.

Performance is mixed among BRICS economies, with the Russian Federation ranking 19th, followed by China (26), Brazil (37), India (62) and South Africa (69).

Of the three pillars that make up the index, India ranks 72nd for inclusion, 66th for growth and development and 44th for inter-generational equity.

The neighbouring countries ranked above India include Sri Lanka (40), Bangladesh (34) and Nepal (22). The countries ranked better than India also include Mali, Uganda, Rwanda, Burundi, Ghana, Ukraine, Serbia, Philippines, Indonesia, Iran, Macedonia, Mexico, Thailand and Malaysia.

Although China ranks first among emerging economies in GDP per capita growth (6.8 per cent) and labour productivity growth (6.7 per cent) since 2012, its overall score is brought down by lacklustre performance on inclusion, the WEF said.

It found that decades of prioritising economic growth over social equity has led to historically high levels of wealth and income inequality and caused governments to miss out on a virtuous circle in which growth is strengthened by being shared more widely and generated without unduly straining the environment or burdening future generations.

Excessive reliance by economists and policy-makers on Gross Domestic Product as the primary metric of national economic performance is part of the problem, the WEF said.

The GDP measures current production of goods and services rather than the extent to which it contributes to broad socio-economic progress as manifested in median household income, employment opportunity, economic security and quality of life, it added.

The WEF also said that rich and poor countries alike are struggling to protect future generations, as it cautioned political and business leaders against expecting higher growth to be a panacea for the social frustrations, including those of younger generations who have shaken the politics of many countries in recent years.

India was today ranked at the 62nd place among emerging economies on an Inclusive Development Index, much below China's 26th position and Pakistan's 47th

India was today ranked at the 62nd place among emerging economies on an Inclusive Development Index, much below China's 26th position and Pakistan's 47th. Norway remains the world's most inclusive advanced economy, while Lithuania again tops the list of emerging economies, the World Economic Forum (WEF) said while releasing the yearly index here before the start of its annual meeting, to be attended by several world leaders including Prime Minister Narendra Modi and US President Donald Trump. The index takes into account the "living standards, environmental sustainability and protection of future generations from further indebtedness", the WEF said. It urged the leaders to urgently move to a new model of inclusive growth and development, saying reliance on GDP as a measure of economic achievement is fuelling short-termism and inequality. India was ranked 60th among 79 developing economies last year, as against China's 15th and Pakistan's 52nd position. The 2018 index, which measures the progress of 103 economies on three individual pillars -- growth and development; inclusion; and inter-generational equity -- has been divided into two parts. The first part covers 29 advanced economies and the second 74 emerging economies. The index has also classified the countries into five sub-categories in terms of the five-year trend of their overall Inclusive Development Growth score -- receding, slowly receding, stable, slowly advancing and advancing. Despite its low overall score, India is among the ten emerging economies with 'advancing' trend. Only two advanced economies have shown 'advancing' trend. Among advanced economies, Norway is followed by Ireland, Luxembourg, Switzerland and Denmark in the top five. Small European economies dominate the top of the index, with Australia (9) the only non-European economy in the top 10. Of the G7 economies, Germany (12) ranks the highest. It is followed by Canada (17), France (18), the UK (21), the US (23), Japan (24) and Italy (27). The top-five most inclusive emerging economies are Lithuania, Hungary, Azerbaijan, Latvia and Poland. Performance is mixed among BRICS economies, with the Russian Federation ranking 19th, followed by China (26), Brazil (37), India (62) and South Africa (69). Of the three pillars that make up the index, India ranks 72nd for inclusion, 66th for growth and development and 44th for inter-generational equity. The neighbouring countries ranked above India include Sri Lanka (40), Bangladesh (34) and Nepal (22). The countries ranked better than India also include Mali, Uganda, Rwanda, Burundi, Ghana, Ukraine, Serbia, Philippines, Indonesia, Iran, Macedonia, Mexico, Thailand and Malaysia. Although China ranks first among emerging economies in GDP per capita growth (6.8 per cent) and labour productivity growth (6.7 per cent) since 2012, its overall score is brought down by lacklustre performance on inclusion, the WEF said. It found that decades of prioritising economic growth over social equity has led to historically high levels of wealth and income inequality and caused governments to miss out on a virtuous circle in which growth is strengthened by being shared more widely and generated without unduly straining the environment or burdening future generations. Excessive reliance by economists and policy-makers on Gross Domestic Product as the primary metric of national economic performance is part of the problem, the WEF said. The GDP measures current production of goods and services rather than the extent to which it contributes to broad socio-economic progress as manifested in median household income, employment opportunity, economic security and quality of life, it added. The WEF also said that rich and poor countries alike are struggling to protect future generations, as it cautioned political and business leaders against expecting higher growth to be a panacea for the social frustrations, including those of younger generations who have shaken the politics of many countries in recent years.

WEF ranks India at 62nd place on Inclusive Development Index behind Pakistan

According to an international study published by the Oxfam group, close to 73% of India&#39;s wealth was cornered by India&#39;s richest 1%.

Previously, the survey had revealed that India&#39;s richest 1% held 58% of the country&#39;s total wealth.

The survey also revealed that around 67 crore Indians made up for the poorest half of the country; the section&#39;s wealth rose by just 1% the previous year.&nbsp;

At the global level, the survey noted 82% of the wealth generated last year worldwide to rest with 1% of the global population.&nbsp;

The ever-increasing incidence of wealth concentration is becoming a cause for concern.

Nearly 3.7 billion people account for the poorest half of population with no increase in their wealth.

The annual Oxfam survey was revealed hours before the start of the annual World Economic Forum Annual Meeting where rising income and gender inequality is among the key talking points.

India&#39;s richest witnessed a growth of over Rs 20.9 lakh crore in their wealth during 2017 -- an amount that equals the cumulative budget of the central government in 2017-18.

The Oxfam report titled &#39;Reward Work, Not Wealth&#39;, reveals how the global economy enables the wealthy elite to accumulate huge wealth while hundreds of millions of people struggle to survive on poverty pay.

&quot;2017 saw an unprecedented increase in the number of billionaires, at a rate of one every two days. Billionaire wealth has risen by an average of 13% a year since 2010 -- six times faster than the wages of ordinary workers, which have risen by a yearly average of just 2%,&quot; noted the report.

India added 17 new billionaires last year, taking the total number to a whopping101.

The Indian billionaires&#39; wealth increased to over Rs 20.7 lakh crore -- escalating by Rs 4.89 lakh crore last year --&nbsp;an amount sufficient to finance 85% of the all states&#39; budget on health and education, Oxfam noted.&nbsp;

It also noted that India&#39;s top 10% of the population holds 73% of the wealth.

The report noted 37% of India&#39;s billionaires to have inherited family wealth; the section is also reported to control over half of the total wealth of billionaires in the country.

It was noted that an average wage worker in rural India will take close to 941 years to match up to the amount of wealth earned by top-paid executives at a leading Indian garment firm in a year.

The survey also showed that women workers often find themselves at the bottom of the heap. Nine out of 10 billionaires are men with only four women billionaires; three of them inherited family wealth.

The report also added that an American CEO can earn the same amount of money in about more than a day which an ordinary worker manages to accumulate in 365 days.

Oxfam alluded to a global survey of 120,000 from 10 countries. The survey respondents in countries like the US, UK and India favoured 60% pay cut for CEOs.

&quot;The billionaire boom is not a sign of a thriving economy but a symptom of a failing economic system. Those working hard, growing food for the country, building infrastructure, working in factories are struggling to fund their child&#39;s education, buy medicines for family members and manage two meals a day. The growing divide undermines democracy and promotes corruption and cronyism,&quot; Oxfam India CEO Nisha Agrawal noted adding that the concentration of economic growth in the country is alarming.

&quot;It would take around 17.5 days for the best-paid executive at a top Indian garment company to earn what a minimum wage worker in rural India will earn in their lifetime (presuming 50 years at work),&quot; Oxfam said.

(With inputs from PTI)&nbsp;

The Oxfam report titled 'Reward Work, Not Wealth' reveals how the global economy enables the wealthy elite to accumulate huge wealth

According to an international study published by the Oxfam group, close to 73% of India's wealth was cornered by India's richest 1%. Previously, the survey had revealed that India's richest 1% held 58% of the country's total wealth. The survey also revealed that around 67 crore Indians made up for the poorest half of the country; the section's wealth rose by just 1% the previous year. At the global level, the survey noted 82% of the wealth generated last year worldwide to rest with 1% of the global population. The ever-increasing incidence of wealth concentration is becoming a cause for concern. Nearly 3.7 billion people account for the poorest half of population with no increase in their wealth. The annual Oxfam survey was revealed hours before the start of the annual World Economic Forum Annual Meeting where rising income and gender inequality is among the key talking points. India's richest witnessed a growth of over Rs 20.9 lakh crore in their wealth during 2017 -- an amount that equals the cumulative budget of the central government in 2017-18. The Oxfam report titled 'Reward Work, Not Wealth', reveals how the global economy enables the wealthy elite to accumulate huge wealth while hundreds of millions of people struggle to survive on poverty pay. "2017 saw an unprecedented increase in the number of billionaires, at a rate of one every two days. Billionaire wealth has risen by an average of 13% a year since 2010 -- six times faster than the wages of ordinary workers, which have risen by a yearly average of just 2%," noted the report. India added 17 new billionaires last year, taking the total number to a whopping101. The Indian billionaires' wealth increased to over Rs 20.7 lakh crore -- escalating by Rs 4.89 lakh crore last year -- an amount sufficient to finance 85% of the all states' budget on health and education, Oxfam noted. It also noted that India's top 10% of the population holds 73% of the wealth. The report noted 37% of India's billionaires to have inherited family wealth; the section is also reported to control over half of the total wealth of billionaires in the country. It was noted that an average wage worker in rural India will take close to 941 years to match up to the amount of wealth earned by top-paid executives at a leading Indian garment firm in a year. The survey also showed that women workers often find themselves at the bottom of the heap. Nine out of 10 billionaires are men with only four women billionaires; three of them inherited family wealth. The report also added that an American CEO can earn the same amount of money in about more than a day which an ordinary worker manages to accumulate in 365 days. Oxfam alluded to a global survey of 120,000 from 10 countries. The survey respondents in countries like the US, UK and India favoured 60% pay cut for CEOs. "The billionaire boom is not a sign of a thriving economy but a symptom of a failing economic system. Those working hard, growing food for the country, building infrastructure, working in factories are struggling to fund their child's education, buy medicines for family members and manage two meals a day. The growing divide undermines democracy and promotes corruption and cronyism," Oxfam India CEO Nisha Agrawal noted adding that the concentration of economic growth in the country is alarming. "It would take around 17.5 days for the best-paid executive at a top Indian garment company to earn what a minimum wage worker in rural India will earn in their lifetime (presuming 50 years at work)," Oxfam said. (With inputs from PTI)

Richest 1% own 73% of India's wealth: Report

As the annual mega event hosted by the World Economic Forum begins at Davos, Pope&#39;s welcoming words added charm to the beginning of the event.&nbsp;

Pope&#39;s speech was read at Davos by Cardinal Peter Kodwo Appiah Turkson, Prefect of the Dicastery for Promoting Integral Human Development.

The speech was addressed to Professor Klaus Schwab, Executive Chairman of the World Economic Forum where Pope Francis thanked him for &quot;an invitation to participate in the World Economic Forum 2018 and for his desire to include the perspective of the Catholic Church and the Holy See at the meeting in Davos.&quot;

The Pope called this year&#39;s theme -- &nbsp;Creating a Shared Future in a Fractured World -- &quot;very timely&quot;.&nbsp;

&quot;At the level of global governance, we are increasingly aware that there is a growing fragmentation between States and Institutions,&quot; the speech noted.

In his speech, the Pope identified the emergence of &quot;economic competition and regional trade agreements&quot;, &quot;transforming economic models&quot;, better technology and an increase in &quot;fragmentation and in individualism&quot;.

Financial instabilities are triggering unemployment, Cardinal Peter Kodwo read out.&nbsp;

&quot;Only through a firm resolve shared by all economic actors may we hope to give a new direction to the destiny of our world,&quot; opined Pope Francis.&nbsp;

In his speech, the Pope also brought in topics like artificial intelligence, robotics and technological innovations, identifying these significant &quot;to the service of humanity and to the protection of our common home, rather than to the contrary, as some assessments unfortunately foresee.&quot;

He noted the moment to be right &quot;to put into action our responsibility to contribute to the development of humanity.&quot;

&quot;I hope, therefore, that this 2018 meeting of the World Economic Forum will allow an open, free, and respectful exchange, and be inspired above all else by the desire to advance the common good. In renewing my best wishes for the success of the meeting, I willingly invoke upon you and all participating in the Forum the divine blessings of wisdom and strength,&quot; the speech concluded.&nbsp;

The full text of Pope Francis&#39; speech was prepared on 12th January 2018 and was read out by Cardinal Peter Kodwo yesterday at the event. The entire text is also available on the official website, World Economic Forum.

&nbsp;

&nbsp;

The Pope called this year's theme -- Creating a Shared Future in a Fractured World -- "very timely"

As the annual mega event hosted by the World Economic Forum begins at Davos, Pope's welcoming words added charm to the beginning of the event. Pope's speech was read at Davos by Cardinal Peter Kodwo Appiah Turkson, Prefect of the Dicastery for Promoting Integral Human Development. The speech was addressed to Professor Klaus Schwab, Executive Chairman of the World Economic Forum where Pope Francis thanked him for "an invitation to participate in the World Economic Forum 2018 and for his desire to include the perspective of the Catholic Church and the Holy See at the meeting in Davos." The Pope called this year's theme -- Creating a Shared Future in a Fractured World -- "very timely". "At the level of global governance, we are increasingly aware that there is a growing fragmentation between States and Institutions," the speech noted. In his speech, the Pope identified the emergence of "economic competition and regional trade agreements", "transforming economic models", better technology and an increase in "fragmentation and in individualism". Financial instabilities are triggering unemployment, Cardinal Peter Kodwo read out. "Only through a firm resolve shared by all economic actors may we hope to give a new direction to the destiny of our world," opined Pope Francis. In his speech, the Pope also brought in topics like artificial intelligence, robotics and technological innovations, identifying these significant "to the service of humanity and to the protection of our common home, rather than to the contrary, as some assessments unfortunately foresee." He noted the moment to be right "to put into action our responsibility to contribute to the development of humanity." "I hope, therefore, that this 2018 meeting of the World Economic Forum will allow an open, free, and respectful exchange, and be inspired above all else by the desire to advance the common good. In renewing my best wishes for the success of the meeting, I willingly invoke upon you and all participating in the Forum the divine blessings of wisdom and strength," the speech concluded. The full text of Pope Francis' speech was prepared on 12th January 2018 and was read out by Cardinal Peter Kodwo yesterday at the event. The entire text is also available on the official website, World Economic Forum.

Firm economic resolve will give new direction to our world: Pope Francis to Davos 2018

As many as 1.4 million jobs in the United States will be vulnerable to disruption from technology and other factors by 2026, a World Economic Forum (WEF) report said today.

The report, &#39;Towards a Reskilling Revolution: A Future of Jobs for All&#39;, is based on an analysis of nearly 1,000 job types across the US economy that encompass 96 per cent of employment in that country.

&quot;...1.4 million US jobs alone expected to disrupted by technology and other factors between now and 2026, of which 57 per cent belong to women,&quot; the WEF said in a release.

On the positive side, the report said that with adequate reskilling, 95 per cent of the most immediately at-risk workers would find good-quality, higher-wage work in growing job families.

&quot;Without reskilling, only 2 per cent of workers would have an optimal opportunity to transition to new jobs while 16 per cent would have none at all,&quot; it added.

The report, published in collaboration with The Boston Consulting Group, also found that coordinated reskilling that aims to maintain or grow wages have very high returns for workers at risk of displacement as well as for businesses and the economy.

The WEF Founder and Executive Chairman Klaus Schwab said the only limiting factor on a world of opportunities for people is the willingness of leaders to make investments in re-skilling that would bridge workers onto new jobs.

As many as 1.4 million jobs in the United States will be vulnerable to disruption from technology and other factors by 2026, a World Economic Forum (WEF) report said today

As many as 1.4 million jobs in the United States will be vulnerable to disruption from technology and other factors by 2026, a World Economic Forum (WEF) report said today. The report, 'Towards a Reskilling Revolution: A Future of Jobs for All', is based on an analysis of nearly 1,000 job types across the US economy that encompass 96 per cent of employment in that country. "...1.4 million US jobs alone expected to disrupted by technology and other factors between now and 2026, of which 57 per cent belong to women," the WEF said in a release. On the positive side, the report said that with adequate reskilling, 95 per cent of the most immediately at-risk workers would find good-quality, higher-wage work in growing job families. "Without reskilling, only 2 per cent of workers would have an optimal opportunity to transition to new jobs while 16 per cent would have none at all," it added. The report, published in collaboration with The Boston Consulting Group, also found that coordinated reskilling that aims to maintain or grow wages have very high returns for workers at risk of displacement as well as for businesses and the economy. The WEF Founder and Executive Chairman Klaus Schwab said the only limiting factor on a world of opportunities for people is the willingness of leaders to make investments in re-skilling that would bridge workers onto new jobs.

1.4 million jobs vulnerable to disruption in US: WEF report

Thanks to medical innovations, people will live till the age of 140 and hospitals will get transformed into mere casualty rooms, according to experts at the World Economic Forum (WEF) summit.

Participating in a session on fourth industrial revolution technologies that are transforming healthcare, Microsoft CEO Satya Nadella said the artificial intelligence techniques working with data enable medical scientists to stand on the shoulders of giants as they can instantly access best-case history.

&quot;Even the mundane -but vital -&nbsp;area of hospital administration is being transformed, with real-time interactive recording of patient outcomes dramatically reducing bureaucracy and costs,&quot; he said.

According to the experts, the world is getting healthier as technology and medicine are colliding, as per a release issued by the WEF.

&quot;People will live to the age of 140 within a few decades, hospitals will be transformed into mere casualty rooms as patient self-management of health becomes the norm, 5G- connected ambulances will save millions of lives by accessing digitised trauma data and performing procedures in transit,&quot; the release said, quoting the experts.

Noting that these exciting developments are coming soon, the experts said that cancers are already being detected months earlier than before with the help of small, wearable health-monitoring devices.

Nokia Corporation&#39;s President and CEO Rajeev Suri said chronic diseases are the leading cause of morbidity in the world, accounting for more than 60 per cent of all deaths. Yet most of these diseases are preventable and many are reversible with accurate and early diagnosis, he added.

He also said that Nokia is working on non-invasive, wearable devices that would continuously monitor vital signs ?- such as cortisol and glucose levels -- and immediately pick up irregularities.

Collection of this personal data is filling the void between medical consultations, eliminating the need for repeated blood testing, for example, he observed.

Pfizer&#39;s Chief Operating Officer Albert Bourla said technology and healthcare have long existed in their own metaphorical silos but now these two worlds are colliding.

This collision means more and better medicines are being delivered faster to sick people, while biological sensors have dramatically improved diagnosis, he noted.

According to the experts, the world is getting healthier as technology and medicine are colliding, as per a release issued by the WEF

Thanks to medical innovations, people will live till the age of 140 and hospitals will get transformed into mere casualty rooms, according to experts at the World Economic Forum (WEF) summit. Participating in a session on fourth industrial revolution technologies that are transforming healthcare, Microsoft CEO Satya Nadella said the artificial intelligence techniques working with data enable medical scientists to stand on the shoulders of giants as they can instantly access best-case history. "Even the mundane -but vital - area of hospital administration is being transformed, with real-time interactive recording of patient outcomes dramatically reducing bureaucracy and costs," he said. According to the experts, the world is getting healthier as technology and medicine are colliding, as per a release issued by the WEF. "People will live to the age of 140 within a few decades, hospitals will be transformed into mere casualty rooms as patient self-management of health becomes the norm, 5G- connected ambulances will save millions of lives by accessing digitised trauma data and performing procedures in transit," the release said, quoting the experts. Noting that these exciting developments are coming soon, the experts said that cancers are already being detected months earlier than before with the help of small, wearable health-monitoring devices. Nokia Corporation's President and CEO Rajeev Suri said chronic diseases are the leading cause of morbidity in the world, accounting for more than 60 per cent of all deaths. Yet most of these diseases are preventable and many are reversible with accurate and early diagnosis, he added. He also said that Nokia is working on non-invasive, wearable devices that would continuously monitor vital signs ?- such as cortisol and glucose levels -- and immediately pick up irregularities. Collection of this personal data is filling the void between medical consultations, eliminating the need for repeated blood testing, for example, he observed. Pfizer's Chief Operating Officer Albert Bourla said technology and healthcare have long existed in their own metaphorical silos but now these two worlds are colliding. This collision means more and better medicines are being delivered faster to sick people, while biological sensors have dramatically improved diagnosis, he noted.

People will live to the age of 140 within a few decades : Experts at WEF

The world will see risks related to the environment, economy and international relations intensify this year with a majority of stakeholders expecting political or economic confrontations between major powers to worsen, a new survey showed today.

Referring to contentious issues between various nations, the World Economic Forum (WEF) said in its annual Global Risks Report that China&#39;s determination to press territorial and maritime claims and its extension of the Belt and Road Initiative (BRI) have triggered responses among neighbouring powers, with Japan and India exploring more structured forms of strategic cooperation in both economic and military affairs.

&quot;This initiative could become more significant if additional partners -- such as Australia, the US, or even European states -- were to take part. However, most of these countries are currently cautious and would be wary of allowing such a hedging policy to cause tensions with China,&quot; it said.

However, the biggest risks in South Asia overall would be in areas like employment, governance and infrastructure, as per the survey that would be discussed in detail next week at Geneva-based WEF&#39;s annual summit, to be attended by 70 heads of states/governments including Indian Prime Minister Narendra Modi and US President Donald Trump.

Globally, the environment-related risks top the charts, as per the survey of around 1,000 global leaders described by the WEF as members of its &quot;multi-stakeholder communities&quot;.

The WEF, which describes itself as an international organisation for public-private cooperation and hosts over 3,000 world leaders from politics, business and civil society every year in Swiss ski resort town Davos for an annual talkfest, said structural and interconnected nature of risks in 2018 threaten the very system on which societies, economies and international relations are based.

The report, which found environmental risks to be dominating the Global Risk Perception Survey for the second year running, said a deteriorating geopolitical landscape is partly to blame for the pessimistic outlook in 2018.

As per the survey, 93 per cent of respondents said they expect political or economic confrontations between major powers to worsen, while nearly 80 per cent expect an increase in risks associated with war involving major powers.

Overall, 59 per cent of the respondents pointed to increased level of risks this year, the WEF said while hoping that a positive economic outlook would give leaders the opportunity to tackle systemic fragility affecting societies, economies, international relations and the environment. Only 7 per cent saw the risks declining in 2018.

The report further said that amid geopolitical flux, national identity becomes a growing source of tension around contested borders, while clashes related to identity and community continue to drive political dislocations in many countries and are increasingly fuelling cross-border tensions.

Talking about &#39;major power tensions&#39;, WEF said relations between the world&#39;s major powers are changing, &quot;mostly for worse&quot;, while shifting relations between global and regional powers is creating increased uncertainty for smaller states.

Listing examples, it referred to Bhutan last year finding itself &quot;at the centre of a stand-off between India and China&quot;.

It also talked about some countries planning to extend and deepen networks of economic corridors and spurring huge infrastructure investments, while naming China&#39;s BRI as the most ambitious one.

Besides, it referred to China Pakistan Economic Corridor (CPEC); Bangladesh-China-India-Myanmar Economic Corridor (BCIM-EC); International North-South Transport Corridor (INSTC), which links India, Iran and Russia; and Asia-Africa Growth Corridor (AAGC), a joint initiative by India and Japan.

The report further said one potential trigger for disruption related to economic corridors might be push-back from a country that feels its sovereignty is being undermined and gave the example of the economic corridors crossing contested territory including of the CPEC running through Gilgit-Baltistan.

The study highlighted numerous areas where systems are being pushed to the brink -- from extinction-level rates of biodiversity loss to mounting concerns about the possibility of new wars.

The top ten risks in terms of likelihood include extreme weather events, natural disasters, cyber attacks, data fraud or theft, climate change, involuntary migration, man-made environmental disasters, terrorist attacks, illicit trade and asset bubbles in major economies.

The biggest risks in terms of impact would be weapons of mass destruction, extreme weather events, natural disasters, climate change, water crises, cyber attacks, food crises, biodiversity loss and ecosystem collapse, involuntary migration and spread of infectious diseases.

&quot;A widening economic recovery presents us with an opportunity that we cannot afford to squander, to tackle the fractures that we have allowed to weaken the world&#39;s institutions, societies and environment. We must take seriously the risk of a global systems breakdown,&quot; WEF Founder and Executive Chairman Klaus Schwab said.

Economic risks feature less prominently this year but there are worries that the improvement in global GDP growth rates may lead to complacency about persistent structural risks in the global economic and financial systems.

Inequality continues to be ranked high among the underlying risk drivers.

The biggest risks in South Asia would be in areas like employment, governance and infrastructure, as per the survey

The world will see risks related to the environment, economy and international relations intensify this year with a majority of stakeholders expecting political or economic confrontations between major powers to worsen, a new survey showed today. Referring to contentious issues between various nations, the World Economic Forum (WEF) said in its annual Global Risks Report that China's determination to press territorial and maritime claims and its extension of the Belt and Road Initiative (BRI) have triggered responses among neighbouring powers, with Japan and India exploring more structured forms of strategic cooperation in both economic and military affairs. "This initiative could become more significant if additional partners -- such as Australia, the US, or even European states -- were to take part. However, most of these countries are currently cautious and would be wary of allowing such a hedging policy to cause tensions with China," it said. However, the biggest risks in South Asia overall would be in areas like employment, governance and infrastructure, as per the survey that would be discussed in detail next week at Geneva-based WEF's annual summit, to be attended by 70 heads of states/governments including Indian Prime Minister Narendra Modi and US President Donald Trump. Globally, the environment-related risks top the charts, as per the survey of around 1,000 global leaders described by the WEF as members of its "multi-stakeholder communities". The WEF, which describes itself as an international organisation for public-private cooperation and hosts over 3,000 world leaders from politics, business and civil society every year in Swiss ski resort town Davos for an annual talkfest, said structural and interconnected nature of risks in 2018 threaten the very system on which societies, economies and international relations are based. The report, which found environmental risks to be dominating the Global Risk Perception Survey for the second year running, said a deteriorating geopolitical landscape is partly to blame for the pessimistic outlook in 2018. As per the survey, 93 per cent of respondents said they expect political or economic confrontations between major powers to worsen, while nearly 80 per cent expect an increase in risks associated with war involving major powers. Overall, 59 per cent of the respondents pointed to increased level of risks this year, the WEF said while hoping that a positive economic outlook would give leaders the opportunity to tackle systemic fragility affecting societies, economies, international relations and the environment. Only 7 per cent saw the risks declining in 2018. The report further said that amid geopolitical flux, national identity becomes a growing source of tension around contested borders, while clashes related to identity and community continue to drive political dislocations in many countries and are increasingly fuelling cross-border tensions. Talking about 'major power tensions', WEF said relations between the world's major powers are changing, "mostly for worse", while shifting relations between global and regional powers is creating increased uncertainty for smaller states. Listing examples, it referred to Bhutan last year finding itself "at the centre of a stand-off between India and China". It also talked about some countries planning to extend and deepen networks of economic corridors and spurring huge infrastructure investments, while naming China's BRI as the most ambitious one. Besides, it referred to China Pakistan Economic Corridor (CPEC); Bangladesh-China-India-Myanmar Economic Corridor (BCIM-EC); International North-South Transport Corridor (INSTC), which links India, Iran and Russia; and Asia-Africa Growth Corridor (AAGC), a joint initiative by India and Japan. The report further said one potential trigger for disruption related to economic corridors might be push-back from a country that feels its sovereignty is being undermined and gave the example of the economic corridors crossing contested territory including of the CPEC running through Gilgit-Baltistan. The study highlighted numerous areas where systems are being pushed to the brink -- from extinction-level rates of biodiversity loss to mounting concerns about the possibility of new wars. The top ten risks in terms of likelihood include extreme weather events, natural disasters, cyber attacks, data fraud or theft, climate change, involuntary migration, man-made environmental disasters, terrorist attacks, illicit trade and asset bubbles in major economies. The biggest risks in terms of impact would be weapons of mass destruction, extreme weather events, natural disasters, climate change, water crises, cyber attacks, food crises, biodiversity loss and ecosystem collapse, involuntary migration and spread of infectious diseases. "A widening economic recovery presents us with an opportunity that we cannot afford to squander, to tackle the fractures that we have allowed to weaken the world's institutions, societies and environment. We must take seriously the risk of a global systems breakdown," WEF Founder and Executive Chairman Klaus Schwab said. Economic risks feature less prominently this year but there are worries that the improvement in global GDP growth rates may lead to complacency about persistent structural risks in the global economic and financial systems. Inequality continues to be ranked high among the underlying risk drivers.

World to be riskier place in 2018: World Economic Forum

The proportion of &quot;unpaid work&quot; per day is far higher for women than men globally, while in case of India on average 66 per cent of women&#39;s work is unpaid, says a <a href="http://www.wionews.com/india-news/a-bridge-too-far-india-slips-21-slots-on-world-economic-forum-gender-gap-index-23375">World Economic Forum report</a>.

Unpaid work measures the average minutes spent per day on routine housework, shopping, care for household members, care for non-household members volunteering, travel related to household activities and other unpaid activities for men and women aged 15-64 years.

According to the WEF Global Gender Gap Report 2017, on an average 66 per cent of women&#39;s work in India is unpaid, compared to 12 per cent of men&rsquo;s.

In case of China, 44 per cent of women&#39;s work is unpaid, while for men the figure stood at 19 per cent.

Even for developed countries, like the United Kingdom, which was ranked 15th on the Global Gender Gap list, 56.7 per cent of women&#39;s work is unpaid, as against 32 per cent men&rsquo;s.

In the USA also, 50 per cent of women&#39;s work is unpaid while in case of men the figure stands at 31.5 per cent.

An analysis of Global Gender Gap Index over the past years points to a continued under-use of the ever-increasing numbers of educated women than ever before, the report said.

&quot;While much of this imbalance is explained by the discrepancy in care-giving and unpaid work, institutional and policy inertia, outdated organisational structures and discrimination, one additional explanatory factor is the skills differentials in the types of degrees women and men seek out in their education,&quot; it added.

As per the report, the global average annual earnings for a female stood at US $12,000, while for a male it was as high as US $21,000.

India has slipped 21 places on the World Economic Forum&#39;s Global Gender Gap index to a lowly 108.

Globally also for the first time since the WEF began measuring the gap across four pillars - health, education, the workplace and political representation - the global gap has actually widened.

&nbsp;

The proportion of "unpaid work" per day is far higher for women than men globally, while in case of India on average 66 per cent of women's work is unpaid, says a World Economic Forum report.

The proportion of "unpaid work" per day is far higher for women than men globally, while in case of India on average 66 per cent of women's work is unpaid, says a World Economic Forum report. Unpaid work measures the average minutes spent per day on routine housework, shopping, care for household members, care for non-household members volunteering, travel related to household activities and other unpaid activities for men and women aged 15-64 years. According to the WEF Global Gender Gap Report 2017, on an average 66 per cent of women's work in India is unpaid, compared to 12 per cent of men’s. In case of China, 44 per cent of women's work is unpaid, while for men the figure stood at 19 per cent. Even for developed countries, like the United Kingdom, which was ranked 15th on the Global Gender Gap list, 56.7 per cent of women's work is unpaid, as against 32 per cent men’s. In the USA also, 50 per cent of women's work is unpaid while in case of men the figure stands at 31.5 per cent. An analysis of Global Gender Gap Index over the past years points to a continued under-use of the ever-increasing numbers of educated women than ever before, the report said. "While much of this imbalance is explained by the discrepancy in care-giving and unpaid work, institutional and policy inertia, outdated organisational structures and discrimination, one additional explanatory factor is the skills differentials in the types of degrees women and men seek out in their education," it added. As per the report, the global average annual earnings for a female stood at US $12,000, while for a male it was as high as US $21,000. India has slipped 21 places on the World Economic Forum's Global Gender Gap index to a lowly 108. Globally also for the first time since the WEF began measuring the gap across four pillars - health, education, the workplace and political representation - the global gap has actually widened.

Gender gap index: 66% of women's work unpaid in India, says World Economic Forum

At the World Economic Forum in Davos on Thursday, the chief executive of Russia&#39;s second-largest Russian bank, VTB,&nbsp;called for US President-elect Donald&nbsp;Trump to scrap penalties&nbsp;against Russian banks when considering lifting other sanctions against Moscow.

Obama&#39;s administration&nbsp;and other European countries had imposed sanctions against Russian businesses, officials and individuals after Russia&#39;s annexation of Crimea&nbsp;in 2014.

The Russian banker&#39;s&nbsp;request to&nbsp;Trump&nbsp;comes as 17 US&nbsp;Intelligence agencies all agree that Russia interfered with the US election to benefit trump in a multifaceted cyber attack, including the&nbsp;spread of misinformation, fake news, and hacking the Democrats.

Trump has denied claims of his ties with the Kremlin.

In his final news conference at the White House on January 18, Obama advised Trump to keep the issue of economic sanctions on Russia separate from talks to reduce nuclear stockpiles. &quot;Russia continues to occupy Ukrainian territory and meddle in Ukrainian affairs,&quot; Obama told reporters.

&quot;I think it would probably best serve, not only American interests, but also the interests of preserving international norms if we made sure that we don&#39;t confuse why these sanctions have been imposed with a whole set of other issues,&quot; he said.&nbsp;

Obama also said that while it&nbsp;was in the world&#39;s interest for US and Russia to have a &quot;constructive relationship&quot;,&nbsp;Russia&#39;s return to an &quot;adversarial spirit&quot; under President Vladimir Putin made that difficult. Obama&nbsp;said the reason the sanctions were imposed was&nbsp;not because of nuclear weapons&nbsp;but because the independence and sovereignty of a country, Ukraine, had been encroached upon by force by Russia.&nbsp;

In an interview with the Times of London published on Monday Trump&nbsp;said he would bargain with Moscow over ending sanctions on Russia in return for a nuclear arms reduction deal.

Obama had also clarified that the US negotiated the Strategic Arms Reduction Treaty (START) with Russia in his first term and that both countries &quot;substantially reduced our nuclear stockpiles&quot;, but further progress was stalled because Putin was unwilling to negotiate. &nbsp;

(WION with inputs from Reuters)

The US imposed sanctions against Russian businesses, officials and individuals following Russia's annexation of Crimea in 2014

At the World Economic Forum in Davos on Thursday, the chief executive of Russia's second-largest Russian bank, VTB, called for US President-elect Donald Trump to scrap penalties against Russian banks when considering lifting other sanctions against Moscow. Obama's administration and other European countries had imposed sanctions against Russian businesses, officials and individuals after Russia's annexation of Crimea in 2014. The Russian banker's request to Trump comes as 17 US Intelligence agencies all agree that Russia interfered with the US election to benefit trump in a multifaceted cyber attack, including the spread of misinformation, fake news, and hacking the Democrats. Trump has denied claims of his ties with the Kremlin. In his final news conference at the White House on January 18, Obama advised Trump to keep the issue of economic sanctions on Russia separate from talks to reduce nuclear stockpiles. "Russia continues to occupy Ukrainian territory and meddle in Ukrainian affairs," Obama told reporters. "I think it would probably best serve, not only American interests, but also the interests of preserving international norms if we made sure that we don't confuse why these sanctions have been imposed with a whole set of other issues," he said. Obama also said that while it was in the world's interest for US and Russia to have a "constructive relationship", Russia's return to an "adversarial spirit" under President Vladimir Putin made that difficult. Obama said the reason the sanctions were imposed was not because of nuclear weapons but because the independence and sovereignty of a country, Ukraine, had been encroached upon by force by Russia. In an interview with the Times of London published on Monday Trump said he would bargain with Moscow over ending sanctions on Russia in return for a nuclear arms reduction deal. Obama had also clarified that the US negotiated the Strategic Arms Reduction Treaty (START) with Russia in his first term and that both countries "substantially reduced our nuclear stockpiles", but further progress was stalled because Putin was unwilling to negotiate. (WION with inputs from Reuters)

CEO of Russian bank asks Trump to lift sanctions at World Economic Forum

China&#39;s policymakers and leading economists today voiced concerns about Britain&#39;s vote to leave the European Union, with the finance minister saying it has heightened market uncertainty, though some expect a limited impact on the Chinese economy. 
 
The &quot;Brexit&quot; decision &quot;will cast a shadow over the global economy ... The repercussions and fallout will emerge in the next five to 10 years,&quot; said Lou Jiwei, China&#39;s minister of finance, at the first annual meeting of the Asian Infrastructure Investment Bank in Beijing. 
 
&quot;It&#39;s difficult to predict now,&quot; he said. &quot;The knee-jerk reaction from the market is probably a bit excessive and needs to calm down and take an objective view.&quot; 
 
Stock markets around the world plunged in the wake of the referendum. Sterling&#39;s value also plummeted. 
 
Lou&#39;s views were echoed by the head of China&#39;s top economic planning authority and other economists at the World Economic Forum (WEF) in the northern city of Tianjin. 
 
&quot;For Chinese firms that are going to invest or carry out mergers, entrepreneurs are smarter than me, and they will definitely wait and see,&quot; Xu Shaoshi, chairman of the National Development and Reform Commission, said at WEF today. 
 
&quot;The Brexit incident wil affect China&#39;s economy via investment, trade and capital,&quot; he said. &quot;But I believe the impact will not be big and relevant government departments have made contingency plans.&quot; 
 
Huang Yiping, a professor at Peking University and a member of the central bank&#39;s monetary policy committee, said it is hard to judge the direct impact of the British referendum on China&#39;s economy. 
 
&quot;If (Brexit) is an important landmark in terms of a reversal of globalisation, I think that&#39;s very bad for the world, it&#39;s very bad for China,&quot; Huang said. 
 
Li Daokui, a professor at Tsinghua University and a former adviser to China&#39;s central bank, was more optimistic on the referendum&#39;s effects on the world&#39;s second-largest economy. 
 
&quot;China is perhaps one of the least impacted economies in the world by the event of Brexit,&quot; he told an audience at WEF. 
 
&quot;The only short-term impact I can think about is the exchange rate of the Renminbi ... But I do think within a few trading sessions that situation will very quickly be subdued,&quot; Li said. 
 
Also speaking at WEF was economist Nouriel Roubini, famed for predicting the global financial crisis, who said the decision to leave the European Union &quot;creates a whole bunch of financial, economic, political and geopolitical uncertainties.&quot; 
 
It could be the &quot;beginning of the disintegration&quot; of the bloc of countries, the euro zone or the United Kingdom, said Roubini. 
 
&quot;I don&#39;t expect a global recession or another global financial crisis,&quot; he added. &quot;I think the impact of Brexit is significant but not of the same size and magnitude of the one we had 2007 to 2009.&quot; 
 
Michael Falcon, CEO of Global Investment Management Asia Pacific at JP Morgan, said he expects more market volatility but doubts the vote will derail a global recovery. 
 
&quot;It is a shock, not a crisis, and so far markets seem to be handling this pretty well,&quot; Falcon said at the WEF conference. 
 
(Reuters)

The repercussions and fallout will emerge in the next five to 10 years, said Lou Jiwei, China's finance minister

China's policymakers and leading economists today voiced concerns about Britain's vote to leave the European Union, with the finance minister saying it has heightened market uncertainty, though some expect a limited impact on the Chinese economy. The "Brexit" decision "will cast a shadow over the global economy ... The repercussions and fallout will emerge in the next five to 10 years," said Lou Jiwei, China's minister of finance, at the first annual meeting of the Asian Infrastructure Investment Bank in Beijing. "It's difficult to predict now," he said. "The knee-jerk reaction from the market is probably a bit excessive and needs to calm down and take an objective view." Stock markets around the world plunged in the wake of the referendum. Sterling's value also plummeted. Lou's views were echoed by the head of China's top economic planning authority and other economists at the World Economic Forum (WEF) in the northern city of Tianjin. "For Chinese firms that are going to invest or carry out mergers, entrepreneurs are smarter than me, and they will definitely wait and see," Xu Shaoshi, chairman of the National Development and Reform Commission, said at WEF today. "The Brexit incident wil affect China's economy via investment, trade and capital," he said. "But I believe the impact will not be big and relevant government departments have made contingency plans." Huang Yiping, a professor at Peking University and a member of the central bank's monetary policy committee, said it is hard to judge the direct impact of the British referendum on China's economy. "If (Brexit) is an important landmark in terms of a reversal of globalisation, I think that's very bad for the world, it's very bad for China," Huang said. Li Daokui, a professor at Tsinghua University and a former adviser to China's central bank, was more optimistic on the referendum's effects on the world's second-largest economy. "China is perhaps one of the least impacted economies in the world by the event of Brexit," he told an audience at WEF. "The only short-term impact I can think about is the exchange rate of the Renminbi ... But I do think within a few trading sessions that situation will very quickly be subdued," Li said. Also speaking at WEF was economist Nouriel Roubini, famed for predicting the global financial crisis, who said the decision to leave the European Union "creates a whole bunch of financial, economic, political and geopolitical uncertainties." It could be the "beginning of the disintegration" of the bloc of countries, the euro zone or the United Kingdom, said Roubini. "I don't expect a global recession or another global financial crisis," he added. "I think the impact of Brexit is significant but not of the same size and magnitude of the one we had 2007 to 2009." Michael Falcon, CEO of Global Investment Management Asia Pacific at JP Morgan, said he expects more market volatility but doubts the vote will derail a global recovery. "It is a shock, not a crisis, and so far markets seem to be handling this pretty well," Falcon said at the WEF conference. (Reuters)

China's finance minister sees 'Brexit' heightening uncertainty for markets

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China's finance minister sees 'Brexit' heightening uncertainty for markets