This year's edition of the World Economic Forum starting on January 21 is a costly affair. Some of the most influential people across all walks of life across the world will discuss key global issues. But what does the Davos summit actually achieve? This report explores

Gravitas: Davos Summit: A Carnival Of Extravaganza?

Greta Thunberg marched ahead of the World Economic Forum in Davos with thousands of climate activists in the western Swiss city of Lausanne on Friday.

Greta Thunberg joined by thousands of Swiss activist in Climate March

World Economic Forum is still seeing the ray of hope for India. According to WEF, India is the world's fastest-expanding major economy.

WEF: India is world's fastest-expanding major economy | WION Wallet

By: Mallika Singh

India ranked 112th globally at the World Economic Forum’s latest ‘Global Gender Gap Index 2020 rankings’, slipping four places since 2018 in terms of gender parity which proves to be an effective “means to benchmark progress.”

India’s drop in ranking came as the world witnessed an overall improvement in the quest towards gender parity. Gender parity has a fundamental bearing on whether or not economies and societies thrive.&nbsp;

Developing and deploying one-half of the world’s available talent has a huge bearing on the growth, competitiveness and future-readiness of economies and businesses worldwide.

While Iceland continues to be the most gender-neutral country, India ranked below all its neighbouring countries, except Pakistan, amid increasing disparities in terms of women’s participation in the development of the country.

“None of us will see gender parity in our lifetimes, and nor likely will many of our children. That’s the sobering finding of the Global Gender Gap Report 2020, which reveals that gender parity will not be attained for 99.5 years,” the WEF said.

In the 14th Gender Gap Report 2020, out of the 153 assessed countries, India ranked in the bottom five in the sections of ‘Economic participation and opportunity’; and ‘Health and survival’, the survey revealed. 
&nbsp; 
In terms of economic participation and opportunity, India stands even below Saudi Arabia, a country where women are governed under the guardianship system and are stripped away of taking any major decisions about themselves without the consent of the assigned man.

WEF reported a very low representation of women on company boards in India (13.8 per cent) and ranked at 117 for wage equality for similar work.

Despite the Indian government's untiring efforts with the ‘Beti Bachao Beti Padhao Andolan’ (Save the girl child, educate the girl child), India stands at 112 in terms of Education attainment, according to the report.

In terms of Health and survival, India stands even below Pakistan, ranking at 150 out of the 153, with an extremely low sex ratio of 91 girls: 100 boys.

However, India ranked in the top 20 in the section of Political empowerment, ranking at 18, even when the global political arena remains the ‘worst-performing’ dimension with women holding 25.2 per cent parliamentary seats globally. 
India is still stuck in its efforts to pass the Bill for reservation of 1/3rd &nbsp;parliamentary seats for women as it ranks globally 122 for women in parliamentary positions.

"Supporting gender parity is critical to ensuring strong, cohesive and resilient societies around the world. For business, too, diversity will be an essential element to demonstrate that stakeholder capitalism is the guiding principle," said WEF's Founder and Executive Chairman Klaus Schwab.

By: Mallika Singh India ranked 112th globally at the World Economic Forum’s latest ‘Global Gender Gap Index 2020 rankings’, slipping four places since 2018 in terms of gender parity which proves to be an effective “means to benchmark progress.

By: Mallika Singh India ranked 112th globally at the World Economic Forum’s latest ‘Global Gender Gap Index 2020 rankings’, slipping four places since 2018 in terms of gender parity which proves to be an effective “means to benchmark progress.” India’s drop in ranking came as the world witnessed an overall improvement in the quest towards gender parity. Gender parity has a fundamental bearing on whether or not economies and societies thrive. Developing and deploying one-half of the world’s available talent has a huge bearing on the growth, competitiveness and future-readiness of economies and businesses worldwide. While Iceland continues to be the most gender-neutral country, India ranked below all its neighbouring countries, except Pakistan, amid increasing disparities in terms of women’s participation in the development of the country. “None of us will see gender parity in our lifetimes, and nor likely will many of our children. That’s the sobering finding of the Global Gender Gap Report 2020, which reveals that gender parity will not be attained for 99.5 years,” the WEF said. In the 14th Gender Gap Report 2020, out of the 153 assessed countries, India ranked in the bottom five in the sections of ‘Economic participation and opportunity’; and ‘Health and survival’, the survey revealed. In terms of economic participation and opportunity, India stands even below Saudi Arabia, a country where women are governed under the guardianship system and are stripped away of taking any major decisions about themselves without the consent of the assigned man. WEF reported a very low representation of women on company boards in India (13.8 per cent) and ranked at 117 for wage equality for similar work. Despite the Indian government's untiring efforts with the ‘Beti Bachao Beti Padhao Andolan’ (Save the girl child, educate the girl child), India stands at 112 in terms of Education attainment, according to the report. In terms of Health and survival, India stands even below Pakistan, ranking at 150 out of the 153, with an extremely low sex ratio of 91 girls: 100 boys. However, India ranked in the top 20 in the section of Political empowerment, ranking at 18, even when the global political arena remains the ‘worst-performing’ dimension with women holding 25.2 per cent parliamentary seats globally. India is still stuck in its efforts to pass the Bill for reservation of 1/3rd parliamentary seats for women as it ranks globally 122 for women in parliamentary positions. "Supporting gender parity is critical to ensuring strong, cohesive and resilient societies around the world. For business, too, diversity will be an essential element to demonstrate that stakeholder capitalism is the guiding principle," said WEF's Founder and Executive Chairman Klaus Schwab.

World Economic Forum’s Global Gender gap index: India slips to 112th rank

Alarming Assessment On Gender Equality By The World Economic Forum One of the themes of #2019 is rise of women in powerful roles across the world. But their rise seems to be an exception, rather than a norm.

Gravitas: WEF: Gender Equality At Workplace To Take Another 257 Years!

A report by the World Economic Forum (WEF) says that Pakistan has slipped three places and now ranks 110th among 141 countries on the international organisation's annual Global Competitiveness Index (GCI).

The index evaluates factors behind productivity and long-term economic growth. The report says Pakistan's ranking deteriorated due to poor performance in key areas of press freedoms, governance, innovation, corruption, life expectancy, productivity, and human development.

The WEF's index maps out the competitive landscape of 141 economies based on more than 100 indicators in a dozen categories.

The forum released the Global Competitiveness Report 2019 this week adopting a new methodology for measuring competitiveness by including indices which represent more knowledge and digital-based ecosystems.

The report said that changing the nature of economic competitiveness in a world that is becoming increasingly transformed by new digital technologies is creating a new set of challenges for governments and businesses, which collectively run the risk of harming future growth and productivity.

However, it said Pakistan improved in some areas such as budgetary transparency and reduction in organised crimes.

Among the South Asian nations, India is at 68, Sri Lanka 84, Bangladesh 105 and Nepal at 108.&nbsp;

The 2019 report uses a methodology aimed to fully capture the dynamics of the global economy in the Fourth Industrial Revolution.&nbsp;

A report by the World Economic Forum (WEF) says that Pakistan has slipped three places and now ranks 110th among 141 countries on the international organisation's annual Global Competitiveness Index (GCI).

A report by the World Economic Forum (WEF) says that Pakistan has slipped three places and now ranks 110th among 141 countries on the international organisation's annual Global Competitiveness Index (GCI). The index evaluates factors behind productivity and long-term economic growth. The report says Pakistan's ranking deteriorated due to poor performance in key areas of press freedoms, governance, innovation, corruption, life expectancy, productivity, and human development. The WEF's index maps out the competitive landscape of 141 economies based on more than 100 indicators in a dozen categories. The forum released the Global Competitiveness Report 2019 this week adopting a new methodology for measuring competitiveness by including indices which represent more knowledge and digital-based ecosystems. The report said that changing the nature of economic competitiveness in a world that is becoming increasingly transformed by new digital technologies is creating a new set of challenges for governments and businesses, which collectively run the risk of harming future growth and productivity. However, it said Pakistan improved in some areas such as budgetary transparency and reduction in organised crimes. Among the South Asian nations, India is at 68, Sri Lanka 84, Bangladesh 105 and Nepal at 108. The 2019 report uses a methodology aimed to fully capture the dynamics of the global economy in the Fourth Industrial Revolution.

Pakistan ranks 110th among 141 countries on WEF's Global Competitiveness Index

Watch in WION Wallet: Cautious optimism about the Indian economy. World Economic Forum clears out that how India is falling down economically at the global slowdown.

WION Wallet: Cautious optimism about Indian economy

Foreign Minister S Jaishankar on Tuesday said that there was no contradiction in being nationalistic.

Speaking at the World Economic Forum, Jaishankar said that "India is an exception as we are more nationalistic, but at the same time, we don't see a tension between being nationalistic and being international, in the sense of engaging more with the world, so nationalism is not a negative sentiment".

"I would say the entire neighbourhood, minus one, had actually been a fairly good story of regional cooperation," Jaishankar said in reference to Pakistan.

During the conversation with the journalists at a session of the World Economic Forum, Jaishankar also said that the Kashmir issue did come up in meetings with the US.

Foreign Minister S Jaishankar on Tuesday said that there was no contradiction in being nationalistic. Speaking at the World Economic Forum, Jaishankar said that "India is an exception as we are more nationalistic, but at the same time, we don't see a tension between being nationalistic and being international, in the sense of engaging more with the world, so nationalism is not a negative sentiment".

Foreign Minister S Jaishankar on Tuesday said that there was no contradiction in being nationalistic. Speaking at the World Economic Forum, Jaishankar said that "India is an exception as we are more nationalistic, but at the same time, we don't see a tension between being nationalistic and being international, in the sense of engaging more with the world, so nationalism is not a negative sentiment". "I would say the entire neighbourhood, minus one, had actually been a fairly good story of regional cooperation," Jaishankar said in reference to Pakistan. During the conversation with the journalists at a session of the World Economic Forum, Jaishankar also said that the Kashmir issue did come up in meetings with the US.

Nationalism is not a negative sentiment, says Foreign Minister S Jaishankar

With an aim to further intensify bilateral relations between the two countries, Bangladesh Prime Minister <a href="https://www.wionews.com/india-news/bangladesh-pm-sheikh-hasina-to-arrive-in-india-on-4-day-visit-on-thursday-253204">Sheikh Hasina</a> on Thursday arrived in the national capital on a four-day visit to India.

As part of her first official engagement of the day, she will participate as the chief guest in the India Economic Summit being organised by the World Economic Forum (WEF) in New Delhi.

During the visit, the Bangladesh Prime Minister will call on President Ram Nath Kovind and will hold bilateral discussions with Prime Minister Narendra Modi on October 5.

This is Hasina's first visit to India since the completion of the elections in Bangladesh and India, a press statement from the Ministry of External Affairs (MEA) said.

"Apart from a number of agreements that are to be exchanged between the sides during the visit, the two Prime Ministers will also jointly inaugurate three bilateral projects via video link," the statement said.

On September 27, Hasina and Modi had met on the sidelines of the 73rd session of the UN General Assembly in New York where the two leaders reiterated their zero-tolerance approach against terrorism and violent extremism and noted that strong ties in the security sector had built trust and mutual confidence between the two countries.

During Hasina's visit to India, both countries are expected to review the Rohingya and Teesta river water sharing issues, apart from inking agreements in various sectors.

"Prime Minister Hasina and her Indian counterpart Narendra Modi may definitely discuss different issues, including the Teesta as well as Rohingyas," The Dhaka Tribune quoted Bangladesh High Commissioner to India, Syed Muazzem Ali, as saying.

On the sidelines of the India Economic Forum meet, the two countries are likely to sign a number of MoUs in different areas, including connectivity, culture, technical cooperation and trade and investment, Muazzem said.

"It is so far confirmed that seven to eight MoUs are to be signed, mostly on connectivity, cultural and technical cooperation, and trade and investment after the bilateral meeting of the two prime ministers on October 5," he said.

However, the High Commissioner also stated that the number of MoUs could be as high as 10.Muazzem further remarked that the Bangladesh Prime Minister would also seek more investments from major Indian investors.

With an aim to further intensify bilateral relations between the two countries, Bangladesh Prime Minister Sheikh Hasina on Thursday arrived in the national capital on a four-day visit to India.

With an aim to further intensify bilateral relations between the two countries, Bangladesh Prime Minister Sheikh Hasina on Thursday arrived in the national capital on a four-day visit to India. As part of her first official engagement of the day, she will participate as the chief guest in the India Economic Summit being organised by the World Economic Forum (WEF) in New Delhi. During the visit, the Bangladesh Prime Minister will call on President Ram Nath Kovind and will hold bilateral discussions with Prime Minister Narendra Modi on October 5. This is Hasina's first visit to India since the completion of the elections in Bangladesh and India, a press statement from the Ministry of External Affairs (MEA) said. "Apart from a number of agreements that are to be exchanged between the sides during the visit, the two Prime Ministers will also jointly inaugurate three bilateral projects via video link," the statement said. On September 27, Hasina and Modi had met on the sidelines of the 73rd session of the UN General Assembly in New York where the two leaders reiterated their zero-tolerance approach against terrorism and violent extremism and noted that strong ties in the security sector had built trust and mutual confidence between the two countries. During Hasina's visit to India, both countries are expected to review the Rohingya and Teesta river water sharing issues, apart from inking agreements in various sectors. "Prime Minister Hasina and her Indian counterpart Narendra Modi may definitely discuss different issues, including the Teesta as well as Rohingyas," The Dhaka Tribune quoted Bangladesh High Commissioner to India, Syed Muazzem Ali, as saying. On the sidelines of the India Economic Forum meet, the two countries are likely to sign a number of MoUs in different areas, including connectivity, culture, technical cooperation and trade and investment, Muazzem said. "It is so far confirmed that seven to eight MoUs are to be signed, mostly on connectivity, cultural and technical cooperation, and trade and investment after the bilateral meeting of the two prime ministers on October 5," he said. However, the High Commissioner also stated that the number of MoUs could be as high as 10.Muazzem further remarked that the Bangladesh Prime Minister would also seek more investments from major Indian investors.

Bangladesh PM Sheikh Hasina arrives in India on 4-day visit

Bangladesh Prime Minister Sheikh Hasina will embark on a four-day visit to India beginning from Thursday with an aim to further intensify bilateral relations between the two countries.

Hasina will visit India from October 3 to 6 at the invitation of Prime Minister Narendra Modi.

During the visit, the Bangladesh Prime Minister will call on President Ram Nath Kovind and hold bilateral discussions with Modi on October 5.

This will be Hasina's first visit to India since the completion of the elections in Bangladesh and India, a press statement from the Ministry of External Affairs (MEA) said.

"Apart from a number of agreements that are to be exchanged between the sides during the visit, the two Prime Ministers will also jointly inaugurate three bilateral projects via video link," the statement said.

Hasina will also participate as the chief guest at the India Economic Summit organised by the World Economic Forum (WEF) on October 3 and 4.

On September 28, Hasina and Modi had met on the sidelines of the 73rd session of the UN General Assembly in New York where the two leaders reiterated their zero-tolerance approach against terrorism and violent extremism and noted that strong ties in the security sector had built trust and mutual confidence between the two countries.

During Hasina's visit to India, both countries are expected to review the Rohingya and Teesta river water sharing issues, apart from inking agreements in various sectors.

"Prime Minister Hasina and her Indian counterpart Narendra Modi may definitely discuss different issues, including the Teesta as well as Rohingyas," The Dhaka Tribune quoted Bangladesh High Commissioner to India, Syed Muazzem Ali, as saying.

On the sidelines of the India Economic Forum meet, the two countries are likely to sign a number of MoUs in different areas, including connectivity, culture, technical cooperation and trade and investment, Muazzem said.

"It is so far confirmed that seven to eight MoUs are to be signed, mostly on connectivity, cultural and technical cooperation, and trade and investment after the bilateral meeting of the two prime ministers on October 5," he said.

However, the High Commissioner also stated that the number of MoUs could be as high as 10.Muazzem further remarked that the Bangladesh Prime Minister would also seek more investments from major Indian investors.

Bangladesh Prime Minister Sheikh Hasina will embark on a four-day visit to India beginning from Thursday with an aim to further intensify bilateral relations between the two countries.

Bangladesh Prime Minister Sheikh Hasina will embark on a four-day visit to India beginning from Thursday with an aim to further intensify bilateral relations between the two countries. Hasina will visit India from October 3 to 6 at the invitation of Prime Minister Narendra Modi. During the visit, the Bangladesh Prime Minister will call on President Ram Nath Kovind and hold bilateral discussions with Modi on October 5. This will be Hasina's first visit to India since the completion of the elections in Bangladesh and India, a press statement from the Ministry of External Affairs (MEA) said. "Apart from a number of agreements that are to be exchanged between the sides during the visit, the two Prime Ministers will also jointly inaugurate three bilateral projects via video link," the statement said. Hasina will also participate as the chief guest at the India Economic Summit organised by the World Economic Forum (WEF) on October 3 and 4. On September 28, Hasina and Modi had met on the sidelines of the 73rd session of the UN General Assembly in New York where the two leaders reiterated their zero-tolerance approach against terrorism and violent extremism and noted that strong ties in the security sector had built trust and mutual confidence between the two countries. During Hasina's visit to India, both countries are expected to review the Rohingya and Teesta river water sharing issues, apart from inking agreements in various sectors. "Prime Minister Hasina and her Indian counterpart Narendra Modi may definitely discuss different issues, including the Teesta as well as Rohingyas," The Dhaka Tribune quoted Bangladesh High Commissioner to India, Syed Muazzem Ali, as saying. On the sidelines of the India Economic Forum meet, the two countries are likely to sign a number of MoUs in different areas, including connectivity, culture, technical cooperation and trade and investment, Muazzem said. "It is so far confirmed that seven to eight MoUs are to be signed, mostly on connectivity, cultural and technical cooperation, and trade and investment after the bilateral meeting of the two prime ministers on October 5," he said. However, the High Commissioner also stated that the number of MoUs could be as high as 10.Muazzem further remarked that the Bangladesh Prime Minister would also seek more investments from major Indian investors.

Bangladesh PM Sheikh Hasina to arrive in India on 4-day visit on Thursday

Bangladesh Prime Minister Sheikh Hasina has expressed hope to get a positive response from India over different unresolved issues, including the <a href="https://www.wionews.com/india-news/no-change-in-teesta-water-sharing-agreement-s-jaishankar-244424">Teesta water-sharing</a> one, before her visit to the neighbouring country earlier in October.

'We're optimistic that the unresolved issues between the two countries will be sorted out soon. We hope we'll get positive results over the aforesaid issues before my visit to India,'&nbsp;Hasina told the parliament on Wednesday.

The prime minister is scheduled to visit India on October 3-6, to attend the India Economic Summit of the World Economic Forum scheduled to be held in New Delhi on October 3-4 with the theme 'Innovating for India; Strengthening South Asia, Impacting the World', Dhaka Tribune reported.

Hasina and her Indian counterpart Narendra Modi will also be holding a bilateral meeting on October 5.

Hasina also said that she will talk to Modi over the water sharing issues between the two countries, including Teesta, during her visit to India.

Noting that Bangladesh has very healthy ties with India, she said new doors have opened in newer areas of mutual cooperation and development.

Hasina said Bangladesh and India have already signed agreements on security, trade, power, energy, communications, development assistance, environment, education, infrastructure development, culture, and health.

Besides, cooperation has enhanced on different other issues, including the blue economy, the peaceful use of nuclear energy, aerospace research, and cybersecurity, she added.

About the Teesta water-sharing deal, she said her government's diplomatic efforts are underway to sign the agreement. "The issue is being placed before the highest political levels of the two countries," she was quoted as saying.

Modi during his previous visit to Bangladesh had assured to resolve the Teesta issue with the assistance of the concerned Indian state governments.&nbsp;

Bangladesh Prime Minister Sheikh Hasina has expressed hope to get a positive response from India over different unresolved issues, including the Teesta water-sharing one, before her visit to the neighbouring country earlier in October.

Bangladesh Prime Minister Sheikh Hasina has expressed hope to get a positive response from India over different unresolved issues, including the Teesta water-sharing one, before her visit to the neighbouring country earlier in October. 'We're optimistic that the unresolved issues between the two countries will be sorted out soon. We hope we'll get positive results over the aforesaid issues before my visit to India,' Hasina told the parliament on Wednesday. The prime minister is scheduled to visit India on October 3-6, to attend the India Economic Summit of the World Economic Forum scheduled to be held in New Delhi on October 3-4 with the theme 'Innovating for India; Strengthening South Asia, Impacting the World', Dhaka Tribune reported. Hasina and her Indian counterpart Narendra Modi will also be holding a bilateral meeting on October 5. Hasina also said that she will talk to Modi over the water sharing issues between the two countries, including Teesta, during her visit to India. Noting that Bangladesh has very healthy ties with India, she said new doors have opened in newer areas of mutual cooperation and development. Hasina said Bangladesh and India have already signed agreements on security, trade, power, energy, communications, development assistance, environment, education, infrastructure development, culture, and health. Besides, cooperation has enhanced on different other issues, including the blue economy, the peaceful use of nuclear energy, aerospace research, and cybersecurity, she added. About the Teesta water-sharing deal, she said her government's diplomatic efforts are underway to sign the agreement. "The issue is being placed before the highest political levels of the two countries," she was quoted as saying. Modi during his previous visit to Bangladesh had assured to resolve the Teesta issue with the assistance of the concerned Indian state governments.

Sheikh Hasina expects positive response from India over unresolved issues, including Teesta

Bangladesh Prime Minister Sheikh Hasina described her country's ties with India as ''organic'' at the&nbsp;World Economic Forum (WEF) annual meeting.

Hasina is in China on a five-day visit for official talks with the Chinese leadership.

Sheikh Hasina on Tuesday addressed the WEF&nbsp;annual meeting and said that both India and Bangladesh can secure its peace and security through sustainable development and connectivity.

Hasina will hold bilateral talks with her Chinese counterpart Li Keqiang and meet President Xi Jinping during her visit.

On asked upon how she maintains relation with both India and China, Hasina said her government has tried to be balanced and objective in its foreign relations.

Bangladesh prime minister also said that her country does not entertain any military ambition as it against their values.

Meanwhile, on July 3, <a href="https://www.wionews.com/south-asia/bangladesh-court-sentences-nine-to-death-for-1994-bid-on-pm-sheikh-hasinas-life-232733">nine members of the main opposition party</a> in Bangladesh were sentenced to death while 25 others handed life terms by a court for attempting to kill Prime Minister Sheikh Hasina 25 years ago.

Hasina was also targeted in 2004, when attackers threw grenades at a rally in Dhaka, killing 24 people and wounding more than 500.

Bangladesh Prime Minister Sheikh Hasina described her country's ties with India as ''organic'' at the World Economic Forum (WEF) annual meeting. Hasina is in China on a five-day visit for official talks with the Chinese leadership.

Bangladesh Prime Minister Sheikh Hasina described her country's ties with India as ''organic'' at the World Economic Forum (WEF) annual meeting. Hasina is in China on a five-day visit for official talks with the Chinese leadership. Sheikh Hasina on Tuesday addressed the WEF annual meeting and said that both India and Bangladesh can secure its peace and security through sustainable development and connectivity. Hasina will hold bilateral talks with her Chinese counterpart Li Keqiang and meet President Xi Jinping during her visit. On asked upon how she maintains relation with both India and China, Hasina said her government has tried to be balanced and objective in its foreign relations. Bangladesh prime minister also said that her country does not entertain any military ambition as it against their values. Meanwhile, on July 3, nine members of the main opposition party in Bangladesh were sentenced to death while 25 others handed life terms by a court for attempting to kill Prime Minister Sheikh Hasina 25 years ago. Hasina was also targeted in 2004, when attackers threw grenades at a rally in Dhaka, killing 24 people and wounding more than 500.

Sheikh Hasina calls India-Bangladesh ties 'organic' at World Economic Forum annual meeting in China

Saddled with long dark winters at home, Swedes have for decades been frequent flyers seeking out sunnier climes, but a growing number are changing their ways because of air travel's impact on the climate.

"Flygskam", or flight shame, has become a buzz word referring to feeling guilt over the environmental effects of flying, contributing to a trend that has more and more Swedes, mainly young, opting to travel by train to ease their conscience.

Spearheading the movement for trains-over-planes is Sweden's own Greta Thunberg, the 16-year-old climate school striker who refuses to fly, travelling by rail to the World Economic Forum in Davos and the climate summit in Katowice, Poland.&nbsp;

A growing number of public figures have vowed to #stayontheground, including Swedish television skiing commentator Bjorn Ferry who said last year he would only travel to competitions by train.

And 250 people working in the film industry signed a recent article in the country's biggest daily Dagens Nyheter calling for Swedish film producers to limit shoots abroad.

An anonymous Swedish Instagram account created in December has been shaming social media profiles and influencers for promoting trips to far-flung destinations, racking up more than 60,000 followers.

"I'm certainly affected by my surroundings and (flight shame) has affected how I view flying," Viktoria Hellstrom, a 27-year-old political science student in Stockholm, told AFP.

Last summer, she took the train to Italy, even though the friends she was meeting there went by plane, as that would have been her second flight within a few weeks.

"The only way I could justify going there was if I took the train," she said.

Train bookings up

The Scandinavian country's location far north -- it is 4,000 kilometres (2,500 miles) from the northernmost town of Kiruna to France's Cote d'Azur -- as well as its robust standard of living, the popularity of charter trips and the rise of low-cost airlines have all contributed to making Swedes big flyers.

Researchers at the Chalmers University of Technology in Gothenburg last year found that Swedes' per capita emissions from flying between 1990 and 2017 were five times the global average.

Emissions from Swedes' international air travel have soared 61 per cent since 1990, their study said.&nbsp;

Swedes' concerns rely on solid data: the Swedish Meteorological Institute said last week that the average annual temperature was rising twice as fast in the country as the global average.&nbsp;

In March, the World Wildlife Foundation published a survey indicating that nearly one in five Swedes had chosen to travel by rail rather than by air in order to minimise their environmental impact.

The trend was most noticeable among women and young people, it said.

Meanwhile, a survey published Tuesday in Sweden's leading travel magazine Vagabond said 64 per cent of those who travelled abroad less last year did so because of climate reasons.

National rail operator SJ reported a 21 per cent boost in business travel this winter, and the government has announced plans to reintroduce night trains to major European cities before the end of its mandate in 2022.

The number of domestic flight passengers was projected to be down by 3.2 per cent in 2018, the transport authority said in its latest figures from September, though the number of passengers on international flights rose four per cent.

So far the "flight shame" trend hasn't had the same traction among Sweden's neighbours, although Finland has spawned its own version of the expression, calling it "lentohapea".

Is 'flight shame' real?

Other parts of the developed world may not have a word that's quite as catchy -- making do with #flyingless or #stopflying -- but average CO2 emissions of 285 grams per air kilometre, compared with 158 for cars and 14 for trains, have given many pause.

Fausta Gabola, a French-Italian student in Paris, is no longer sure that she should take up an offer to study in Australia on a scholarship.

"It's my dream to go there," she told AFP. "I applied without thinking too much about it and now I have a dilemma. I would feel like a hypocrite if I went."

French political scientist Mathilde Szuba said any no-fly decision effectively puts distant countries out of reach.

"There is no easy substitute for flying," she told AFP. "You can't go to faraway places without taking the plane."

Back in Sweden, some experts say that changing travel patterns are not always a direct result of "flight shame".

Frida Hylander, a Swedish psychologist, said shame, and the fear of being shamed, was a powerful motivator, but she also cautioned against overstating its importance.

Other factors were at play, Hylander said, citing as an example Sweden's unusually hot summer last year which caused massive wildfires and may have sparked wider concerns about climate change.

"You should exercise caution when pointing to one single factor," Hylander said.

A new flight tax introduced in April 2018 may also have played a role, she said, as well as the bankruptcy of regional airline NextJet, which led to the closure of a number of domestic flight routes for several months.

Saddled with long dark winters at home, Swedes have for decades been frequent flyers seeking out sunnier climes, but a growing number are changing their ways because of air travel's impact on the climate.

Saddled with long dark winters at home, Swedes have for decades been frequent flyers seeking out sunnier climes, but a growing number are changing their ways because of air travel's impact on the climate. "Flygskam", or flight shame, has become a buzz word referring to feeling guilt over the environmental effects of flying, contributing to a trend that has more and more Swedes, mainly young, opting to travel by train to ease their conscience. Spearheading the movement for trains-over-planes is Sweden's own Greta Thunberg, the 16-year-old climate school striker who refuses to fly, travelling by rail to the World Economic Forum in Davos and the climate summit in Katowice, Poland. A growing number of public figures have vowed to #stayontheground, including Swedish television skiing commentator Bjorn Ferry who said last year he would only travel to competitions by train. And 250 people working in the film industry signed a recent article in the country's biggest daily Dagens Nyheter calling for Swedish film producers to limit shoots abroad. An anonymous Swedish Instagram account created in December has been shaming social media profiles and influencers for promoting trips to far-flung destinations, racking up more than 60,000 followers. "I'm certainly affected by my surroundings and (flight shame) has affected how I view flying," Viktoria Hellstrom, a 27-year-old political science student in Stockholm, told AFP. Last summer, she took the train to Italy, even though the friends she was meeting there went by plane, as that would have been her second flight within a few weeks. "The only way I could justify going there was if I took the train," she said. Train bookings up The Scandinavian country's location far north -- it is 4,000 kilometres (2,500 miles) from the northernmost town of Kiruna to France's Cote d'Azur -- as well as its robust standard of living, the popularity of charter trips and the rise of low-cost airlines have all contributed to making Swedes big flyers. Researchers at the Chalmers University of Technology in Gothenburg last year found that Swedes' per capita emissions from flying between 1990 and 2017 were five times the global average. Emissions from Swedes' international air travel have soared 61 per cent since 1990, their study said. Swedes' concerns rely on solid data: the Swedish Meteorological Institute said last week that the average annual temperature was rising twice as fast in the country as the global average. In March, the World Wildlife Foundation published a survey indicating that nearly one in five Swedes had chosen to travel by rail rather than by air in order to minimise their environmental impact. The trend was most noticeable among women and young people, it said. Meanwhile, a survey published Tuesday in Sweden's leading travel magazine Vagabond said 64 per cent of those who travelled abroad less last year did so because of climate reasons. National rail operator SJ reported a 21 per cent boost in business travel this winter, and the government has announced plans to reintroduce night trains to major European cities before the end of its mandate in 2022. The number of domestic flight passengers was projected to be down by 3.2 per cent in 2018, the transport authority said in its latest figures from September, though the number of passengers on international flights rose four per cent. So far the "flight shame" trend hasn't had the same traction among Sweden's neighbours, although Finland has spawned its own version of the expression, calling it "lentohapea". Is 'flight shame' real? Other parts of the developed world may not have a word that's quite as catchy -- making do with #flyingless or #stopflying -- but average CO2 emissions of 285 grams per air kilometre, compared with 158 for cars and 14 for trains, have given many pause. Fausta Gabola, a French-Italian student in Paris, is no longer sure that she should take up an offer to study in Australia on a scholarship. "It's my dream to go there," she told AFP. "I applied without thinking too much about it and now I have a dilemma. I would feel like a hypocrite if I went." French political scientist Mathilde Szuba said any no-fly decision effectively puts distant countries out of reach. "There is no easy substitute for flying," she told AFP. "You can't go to faraway places without taking the plane." Back in Sweden, some experts say that changing travel patterns are not always a direct result of "flight shame". Frida Hylander, a Swedish psychologist, said shame, and the fear of being shamed, was a powerful motivator, but she also cautioned against overstating its importance. Other factors were at play, Hylander said, citing as an example Sweden's unusually hot summer last year which caused massive wildfires and may have sparked wider concerns about climate change. "You should exercise caution when pointing to one single factor," Hylander said. A new flight tax introduced in April 2018 may also have played a role, she said, as well as the bankruptcy of regional airline NextJet, which led to the closure of a number of domestic flight routes for several months.

'Flight shame' has Swedes rethinking air travel

China might be trying hard to show the world that its women are the driving force of its economy, but gender equality is a far cry in the country, where women are still struggling to be taken seriously.

Shanghai Women's Federation's Vice President, Wen Wen Lei said that in China, men are considered to be breadwinners, while women are expected to look after the home and family.

It would require more time to change such a traditional mindset, she added.

Women are also not represented enough in politics as China's traditional society believes that men are more powerful than women and should be the ones to govern the country.

She said that since almost 70 years ago when the People's Republic of China was founded, gender equality has been one of the most important national policies and while the situation has improved a lot since then, there's still a long way to go.

In World Economic Forum's global ranking for gender equality, in 2017, China was placed at 100th position out of the 144 countries and ended up at 103 out the 149 countries in 2018.

"China's (103) progress towards gender parity has slowed this year," said WEF in its report.

One of the most worrisome aspects, according to Wen, is the inequality at work as she explained that companies do not want to hire more women, especially those in the child bearing age.

To combat this problem, the government had introduced a new law to curb workplace discrimination against women.

It prohibits employers to ask questions regarding women's marital status, whether they have children or whether they plan to have children in future, and bans companies to carry out pregnancy tests during the selection process, practices which have been prevalent until now.

Wen also pointed out that the government had brought in a law to address domestic violence three years ago, although a majority of victims do not speak up as they consider domestic abuse to be a private matter.

China also has a long way to go as far as representation of women in politics goes.

No woman has ever led the Communist Party of China, and currently there's only one woman among the 25 members of its Politburo.

Author of "Lotus" - a book that talks about prostitution, based on extensive research - Zhang Lijia, said that the CPC was sexist.

Zhang added that Chinese women are being left behind in terms of political participation and the salary gap between men and women is becoming wider.

According to the United Nations Development Programme, among the members of the decision making bodies of the Chinese government, only 24.2 per cent are women.

China must guarantee a minimum quota for women in the National Assembly, which continues to have very few women representatives, Zhang says.

The CPC, she adds, took a concrete step to improve women's lives in the 1950s, when it abolished child marriage and introduced the right to education and work, but after that gender equality has not been prioritised.

According to Zhang, if China wants to improve the lives of women, it will first need to accord them equal status in society and politics.

China might be trying hard to show the world that its women are the driving force of its economy, but gender equality is a far cry in the country, where women are still struggling to be taken seriously.

China might be trying hard to show the world that its women are the driving force of its economy, but gender equality is a far cry in the country, where women are still struggling to be taken seriously. Shanghai Women's Federation's Vice President, Wen Wen Lei said that in China, men are considered to be breadwinners, while women are expected to look after the home and family. It would require more time to change such a traditional mindset, she added. Women are also not represented enough in politics as China's traditional society believes that men are more powerful than women and should be the ones to govern the country. She said that since almost 70 years ago when the People's Republic of China was founded, gender equality has been one of the most important national policies and while the situation has improved a lot since then, there's still a long way to go. In World Economic Forum's global ranking for gender equality, in 2017, China was placed at 100th position out of the 144 countries and ended up at 103 out the 149 countries in 2018. "China's (103) progress towards gender parity has slowed this year," said WEF in its report. One of the most worrisome aspects, according to Wen, is the inequality at work as she explained that companies do not want to hire more women, especially those in the child bearing age. To combat this problem, the government had introduced a new law to curb workplace discrimination against women. It prohibits employers to ask questions regarding women's marital status, whether they have children or whether they plan to have children in future, and bans companies to carry out pregnancy tests during the selection process, practices which have been prevalent until now. Wen also pointed out that the government had brought in a law to address domestic violence three years ago, although a majority of victims do not speak up as they consider domestic abuse to be a private matter. China also has a long way to go as far as representation of women in politics goes. No woman has ever led the Communist Party of China, and currently there's only one woman among the 25 members of its Politburo. Author of "Lotus" - a book that talks about prostitution, based on extensive research - Zhang Lijia, said that the CPC was sexist. Zhang added that Chinese women are being left behind in terms of political participation and the salary gap between men and women is becoming wider. According to the United Nations Development Programme, among the members of the decision making bodies of the Chinese government, only 24.2 per cent are women. China must guarantee a minimum quota for women in the National Assembly, which continues to have very few women representatives, Zhang says. The CPC, she adds, took a concrete step to improve women's lives in the 1950s, when it abolished child marriage and introduced the right to education and work, but after that gender equality has not been prioritised. According to Zhang, if China wants to improve the lives of women, it will first need to accord them equal status in society and politics.

Women in China are caught between tradition, no political voice

Data is the new oil: This is how the World Economic Forum (WEF) hailed the birth of a new “asset class” in 2011.

The WEF views are even more rosy in 2019 — about the exponential expansion of this “data universe”. Ok, we get it.&nbsp;

WEF, the rich man’s club, now finds data even more valuable than oil. As long as machines can produce and consume ever larger amounts of data, the immaterial world of money and data can expand ad infinitum. And wow, that’s a lot of money to be made.

Let’s pass over some simple, mundane questions. The sort that ask if people can eat data or wear it, the sort that place people where they live — in the material universe.

Let’s not take issue with our leaders who say the physical universe — the pakoda producing-consuming one — is expanding. Let’s consider the data universe instead, and the happy rumours of ever-growing data leading to financial growth. The data universe turns out to be even more unequal than the one we know. Its “growth” does not create jobs; indeed, it creates job loss. Twenty-six individuals now own wealth equal to that of the bottom half of the world’s population. Yes, it creates wealth, but for whom?

Professor Shoshanna Zuboff of the Harvard Business School and no radical, writes in ‘The Age of Surveillance Capitalism’, that the object of collecting, processing and using data is no longer to service our needs better. It is to automate us, to modify our behaviour, producing a “behavioural surplus” that fuels the digital economy. This outcome has darkened the digital dream, and caused its rapid mutation into surveillance capitalism.

Professor Tim Wu, who coined the term ‘net neutrality’, has a slightly different take. He believes that attention capital — capturing our attention — is the key driver in the digital economy. For both Wu and Zuboff, digital monopolies comprise a form of rogue capitalism, and it is creating a dystopian society.

Whether critical or rosy, these views of the digital economy capture only one aspect of today’s world. The digital monopolies are the fastest growing monopolies the world has ever seen.

If we take the top five companies in the Fortune 500 list by market capitalisation today (2018), they are all digital monopolies. Collecting raw data and processing it makes up the key element of this growth.

If data is powering this growth, who owns the data? Most people ask questions about whether the data belongs to the companies that collect and process it, or to the individuals whose data is being collected.

Both frames conceive of data as property, their only question is who owns this property. Other assumptions — such as the one that data is neither a commodity nor property, but a part of the digital commons — are dropped out of the debate.

Those who take a narrow view of data — of merely, protecting our privacy — miss out two aspects of data. The first point is that the most useful data is not our personal demographic data: Who we are in terms of age, gender or ethnicity. It is the data of our social interactions. It’s useful, at this point, to recall the film on Facebook, and why it was called, ‘The Social Network’.

The second point is that a huge amount of data today is collected from sensors, cameras and devices. They belong to larger collectives, towns, municipalities, and other such entities; not individuals.

If data is the new oil — or the new super oil WEF sees with excitement — the question of who controls this data and its flow is not just an economic issue. It is deeply political as well.

Great Britain built its colonial empire (over which the sun never set), on the back of naval control of the oceans. Who controls the data and its flow will decide who will rule the world in the 21st century.

This is the context in which we have to view the recent move by the World Economic Forum to initiate e-commerce negotiations within the World Trade Organisation (WTO).

Apart from the absurdity of WEF starting WTO negotiations, negotiations on e-commerce or, more correctly, use of digital platforms to buy and sell goods, WEF has little to do with trade.

The “negotiations” are all about control over data and its flows: No restrictions on digital platforms; open collection of peoples data and no taxes on digital goods. In effect, a blatant plea for a neo-colonial data regime.

Indian big capital has been showing interest in controlling the data of Indians. Mukesh Ambani has already pitched in. The dream here? Exercising control over data for their private gain, with the Indian State giving them access to the Aadhaar ecosystem built with public money.

Yes, there is the question of who will control data. But the critical question has to do with the purpose. Is data being collected and processed for the benefit of digital monopolies — global or Indian? Or is it for public good?

The demand that our peoples’ data should belong to digital monopolies will create a more unequal world. A Luddite reaction to this development may be to smash physical and algorithmic machines.

The right response is working out a trajectory different from the dystopian one of ever-growing digital capital. That means re-imagining our digital future with people at its centre, not capital. 
&nbsp;

(This article was originally published on The DNA. Read the <a href="https://www.dnaindia.com/analysis/column-data-and-its-discontents-2718461">original article</a>)

(Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL.)

Data is the new oil: This is how the World Economic Forum (WEF) hailed the birth of a new “asset class” in 2011. The WEF views are even more rosy in 2019 — about the exponential expansion of this “data universe”.

Data is the new oil: This is how the World Economic Forum (WEF) hailed the birth of a new “asset class” in 2011. The WEF views are even more rosy in 2019 — about the exponential expansion of this “data universe”. Ok, we get it. WEF, the rich man’s club, now finds data even more valuable than oil. As long as machines can produce and consume ever larger amounts of data, the immaterial world of money and data can expand ad infinitum. And wow, that’s a lot of money to be made. Let’s pass over some simple, mundane questions. The sort that ask if people can eat data or wear it, the sort that place people where they live — in the material universe. Let’s not take issue with our leaders who say the physical universe — the pakoda producing-consuming one — is expanding. Let’s consider the data universe instead, and the happy rumours of ever-growing data leading to financial growth. The data universe turns out to be even more unequal than the one we know. Its “growth” does not create jobs; indeed, it creates job loss. Twenty-six individuals now own wealth equal to that of the bottom half of the world’s population. Yes, it creates wealth, but for whom? Professor Shoshanna Zuboff of the Harvard Business School and no radical, writes in ‘The Age of Surveillance Capitalism’, that the object of collecting, processing and using data is no longer to service our needs better. It is to automate us, to modify our behaviour, producing a “behavioural surplus” that fuels the digital economy. This outcome has darkened the digital dream, and caused its rapid mutation into surveillance capitalism. Professor Tim Wu, who coined the term ‘net neutrality’, has a slightly different take. He believes that attention capital — capturing our attention — is the key driver in the digital economy. For both Wu and Zuboff, digital monopolies comprise a form of rogue capitalism, and it is creating a dystopian society. Whether critical or rosy, these views of the digital economy capture only one aspect of today’s world. The digital monopolies are the fastest growing monopolies the world has ever seen. If we take the top five companies in the Fortune 500 list by market capitalisation today (2018), they are all digital monopolies. Collecting raw data and processing it makes up the key element of this growth. If data is powering this growth, who owns the data? Most people ask questions about whether the data belongs to the companies that collect and process it, or to the individuals whose data is being collected. Both frames conceive of data as property, their only question is who owns this property. Other assumptions — such as the one that data is neither a commodity nor property, but a part of the digital commons — are dropped out of the debate. Those who take a narrow view of data — of merely, protecting our privacy — miss out two aspects of data. The first point is that the most useful data is not our personal demographic data: Who we are in terms of age, gender or ethnicity. It is the data of our social interactions. It’s useful, at this point, to recall the film on Facebook, and why it was called, ‘The Social Network’. The second point is that a huge amount of data today is collected from sensors, cameras and devices. They belong to larger collectives, towns, municipalities, and other such entities; not individuals. If data is the new oil — or the new super oil WEF sees with excitement — the question of who controls this data and its flow is not just an economic issue. It is deeply political as well. Great Britain built its colonial empire (over which the sun never set), on the back of naval control of the oceans. Who controls the data and its flow will decide who will rule the world in the 21st century. This is the context in which we have to view the recent move by the World Economic Forum to initiate e-commerce negotiations within the World Trade Organisation (WTO). Apart from the absurdity of WEF starting WTO negotiations, negotiations on e-commerce or, more correctly, use of digital platforms to buy and sell goods, WEF has little to do with trade. The “negotiations” are all about control over data and its flows: No restrictions on digital platforms; open collection of peoples data and no taxes on digital goods. In effect, a blatant plea for a neo-colonial data regime. Indian big capital has been showing interest in controlling the data of Indians. Mukesh Ambani has already pitched in. The dream here? Exercising control over data for their private gain, with the Indian State giving them access to the Aadhaar ecosystem built with public money. Yes, there is the question of who will control data. But the critical question has to do with the purpose. Is data being collected and processed for the benefit of digital monopolies — global or Indian? Or is it for public good? The demand that our peoples’ data should belong to digital monopolies will create a more unequal world. A Luddite reaction to this development may be to smash physical and algorithmic machines. The right response is working out a trajectory different from the dystopian one of ever-growing digital capital. That means re-imagining our digital future with people at its centre, not capital. (This article was originally published on The DNA. Read the original article) (Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL.)

Data and its discontents

Facebook Inc's operations chief Sheryl Sandberg said on Wednesday that the world's largest social network needed to win back public trust after facing scandals for violating its users' privacy.

The social media platform is investing billions of dollars a year to improve the security of its network, Sandberg said in an interview hosted by German newspaper Die Zeit and UK law firm CMS at the World Economic Forum in Davos, Switzerland.

Also read: <a href="http://www.wionews.com/business-economy/google-facebook-spend-big-on-us-lobbying-amid-policy-battles-192129">Google, Facebook spend big on US lobbying amid policy battles</a>

"We did not anticipate all of the risks from connecting so many people," Sandberg said, adding that the site had added features that give users greater control over their personal information.

Also read: <a href="http://www.wionews.com/world/facebook-accused-of-allowing-anti-brexit-fake-news-on-its-platform-191338">Facebook accused of allowing anti-Brexit fake news on its platform</a>

The 15-year-old technology company has been a darling of California's Silicon Valley, making stars out of its founder, chief executive and chairman Mark Zuckerberg, and Sandberg, known for her feminist manifesto "Lean In". But its shares have fallen roughly 33 per cent since July to $144 due to concerns about user privacy.

Last year, the company was buffeted by revelations that UK consultancy Cambridge Analytica had improperly acquired data on millions of its US&nbsp;users to target election advertising.

"We need to earn back trust," Sandberg said.

Some of<a href="http://www.wionews.com/world/facebook-backs-election-integrity-ai-initiatives-in-germany-191671"> Facebook</a>'s major shareholders have pushed for Zuckerberg, who has majority control of the company, to step down as chairman.

Sandberg said he should remain both chair and CEO. She said that she also plans to remain at Facebook, where she has worked since 2008.

"I think I have a job to do," she said. "It's a job I really want to do."

Sandberg said that if Facebook had to change its business model and charge users a subscription fee instead of collecting advertising revenue, far fewer people would be able to use it.

"Fundamentally disallowing our business model would harm a lot of people all over the world."

She said her grassroots women's movement, spurred by the publication of "Lean In", was still going strong. But, asked if she was considering a run for US president in the 2020 election, she replied,&nbsp;"It's not on my agenda."

Facebook Inc's operations chief Sheryl Sandberg said on Wednesday that the world's largest social network needed to win back public trust after facing scandals for violating its users' privacy.

Facebook Inc's operations chief Sheryl Sandberg said on Wednesday that the world's largest social network needed to win back public trust after facing scandals for violating its users' privacy. The social media platform is investing billions of dollars a year to improve the security of its network, Sandberg said in an interview hosted by German newspaper Die Zeit and UK law firm CMS at the World Economic Forum in Davos, Switzerland. Also read: Google, Facebook spend big on US lobbying amid policy battles "We did not anticipate all of the risks from connecting so many people," Sandberg said, adding that the site had added features that give users greater control over their personal information. Also read: Facebook accused of allowing anti-Brexit fake news on its platform The 15-year-old technology company has been a darling of California's Silicon Valley, making stars out of its founder, chief executive and chairman Mark Zuckerberg, and Sandberg, known for her feminist manifesto "Lean In". But its shares have fallen roughly 33 per cent since July to $144 due to concerns about user privacy. Last year, the company was buffeted by revelations that UK consultancy Cambridge Analytica had improperly acquired data on millions of its US users to target election advertising. "We need to earn back trust," Sandberg said. Some of Facebook's major shareholders have pushed for Zuckerberg, who has majority control of the company, to step down as chairman. Sandberg said he should remain both chair and CEO. She said that she also plans to remain at Facebook, where she has worked since 2008. "I think I have a job to do," she said. "It's a job I really want to do." Sandberg said that if Facebook had to change its business model and charge users a subscription fee instead of collecting advertising revenue, far fewer people would be able to use it. "Fundamentally disallowing our business model would harm a lot of people all over the world." She said her grassroots women's movement, spurred by the publication of "Lean In", was still going strong. But, asked if she was considering a run for US president in the 2020 election, she replied, "It's not on my agenda."

Facebook must earn back trust, says Chief operation officer Sheryl Sandberg in Davos

The British government on Wednesday played down concerns that <a href="https://www.google.com/url?q=http://www.wionews.com/world/how-europe-reacted-to-brexit-deal-defeat-190587&amp;sa=U&amp;ved=0ahUKEwjHwbDerobgAhUGS48KHduaDnQQFggFMAA&amp;client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;usg=AOvVaw0ONpHjI7NlHcUTKnXTjxSj">Brexit </a>is scaring away businesses after Sony said it was moving its European headquarters to the Netherlands amid a bitter political stalemate in London.

With just over two months to go until the scheduled date of Brexit on March 29, and with no divorce deal in place, Britain faces the prospect of an imminent and chaotic departure from the European Union after 46 years of membership.

Interviewed by AFP at the World Economic Forum in Davos, International Trade Secretary Liam Fox said Britain remained "open for business".

Britain "is an attractive destination for foreign direct investment — and that during the time where there's been uncertainty over Brexit," Fox said.

Japanese electronics giant Sony said it was moving its headquarters' registration by the end of March to avoid Brexit-related customs issues.

Its rival Panasonic last year also moved its European headquarters from Britain to the Netherlands over concerns about potential Brexit-related tax issues.

Several other Japanese firms, including megabank MUFG, Nomura Holdings, Daiwa Securities and Sumitomo Mitsui Financial Group, have said they are planning to move their main EU bases out of London since the 2016 Brexit vote.

France, Germany, Ireland, Luxembourg, and the Netherlands have all benefited from companies moving out of London, although the large impact predicted by some on Britain's financial sector has so far failed to materialise.

Dutch officials are in contact with more than 250 companies about a possible post-Brexit move, the government there said Wednesday.

The Dutch government will announce a final figure in February but "every new arrival of business, big or small, is a success," Michiel Bakhuizen, a spokesman for the Netherlands Foreign Investment Agency, told AFP.

EU 'ready to be more ambitious'&nbsp;

Britain has been in a state of political upheaval since last week when parliament rejected the withdrawal deal negotiated by <a href="https://www.google.com/url?q=http://www.wionews.com/world/attempts-to-delay-brexit-do-not-solve-the-issue-says-uk-pm-theresa-may-192319&amp;sa=U&amp;ved=0ahUKEwjGwND0robgAhVBs48KHa9BBdwQFggFMAA&amp;client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;usg=AOvVaw0frJRYi9tQtdTQxpw6UMpm">Prime Minister Theresa May</a> with the EU, leaving the UK on course for a no-deal Brexit on March 29.

Brussels negotiator Michel Barnier on Wednesday warned the British government would still face a multi-billion euro divorce settlement with the EU under such a scenario.

Some anti-EU campaigners, opposed to a negotiated settlement with Brussels, baulk at the idea of settling a bill that their own government estimates at £39 billion (44 billion euros) to cover outstanding obligations.

But Barnier, in interviews with several European newspapers, said the bill would still be due.

"For the EU budget, we've always said one simple thing: the totality of the commitments made by the United Kingdom while still an EU member will be respected," the senior EU official said, according to Le Monde.

Separately in the interview, given also to Luxemburger Wort and Poland's Rzeczpospolita, Barnier restated the consensus EU position that the withdrawal deal must stand and that it is up to May's government to find a way to save it.

But he suggested that Brussels would be flexible and modify the political declaration on hopes for future ties, agreed alongside the binding withdrawal deal if Britain were to compromise on May's positions.

"We are ready to be more ambitious if the British decide to shift their red lines, for example by remaining in a customs union, or participating in the single market," he said, according to the Luxemburger Wort.&nbsp;

"I believe there is a readiness in London for that."

Manufacturing sentiment drops 
&nbsp; 
The political crisis in London comes against a backdrop of growing economic gloom, with business leaders warning politicians of the effects of Brexit uncertainty.

A Confederation of British Industry survey of 326 manufacturing firms on Wednesday found that new orders flattened in the quarter to January and sentiment about both the business situation and export prospects tumbled.

Business concerns are particularly high over the prospect of a no-deal Brexit, which could immediately impose high tariffs on key exports such as food and cars.

A disruptive Brexit could also have a major impact on transport hubs such as ports and airports.

The British government on Wednesday played down concerns that Brexit is scaring away businesses after Sony said it was moving its European headquarters to the Netherlands amid a bitter political stalemate in London.

The British government on Wednesday played down concerns that Brexit is scaring away businesses after Sony said it was moving its European headquarters to the Netherlands amid a bitter political stalemate in London. With just over two months to go until the scheduled date of Brexit on March 29, and with no divorce deal in place, Britain faces the prospect of an imminent and chaotic departure from the European Union after 46 years of membership. Interviewed by AFP at the World Economic Forum in Davos, International Trade Secretary Liam Fox said Britain remained "open for business". Britain "is an attractive destination for foreign direct investment — and that during the time where there's been uncertainty over Brexit," Fox said. Japanese electronics giant Sony said it was moving its headquarters' registration by the end of March to avoid Brexit-related customs issues. Its rival Panasonic last year also moved its European headquarters from Britain to the Netherlands over concerns about potential Brexit-related tax issues. Several other Japanese firms, including megabank MUFG, Nomura Holdings, Daiwa Securities and Sumitomo Mitsui Financial Group, have said they are planning to move their main EU bases out of London since the 2016 Brexit vote. France, Germany, Ireland, Luxembourg, and the Netherlands have all benefited from companies moving out of London, although the large impact predicted by some on Britain's financial sector has so far failed to materialise. Dutch officials are in contact with more than 250 companies about a possible post-Brexit move, the government there said Wednesday. The Dutch government will announce a final figure in February but "every new arrival of business, big or small, is a success," Michiel Bakhuizen, a spokesman for the Netherlands Foreign Investment Agency, told AFP. EU 'ready to be more ambitious' Britain has been in a state of political upheaval since last week when parliament rejected the withdrawal deal negotiated by Prime Minister Theresa May with the EU, leaving the UK on course for a no-deal Brexit on March 29. Brussels negotiator Michel Barnier on Wednesday warned the British government would still face a multi-billion euro divorce settlement with the EU under such a scenario. Some anti-EU campaigners, opposed to a negotiated settlement with Brussels, baulk at the idea of settling a bill that their own government estimates at £39 billion (44 billion euros) to cover outstanding obligations. But Barnier, in interviews with several European newspapers, said the bill would still be due. "For the EU budget, we've always said one simple thing: the totality of the commitments made by the United Kingdom while still an EU member will be respected," the senior EU official said, according to Le Monde. Separately in the interview, given also to Luxemburger Wort and Poland's Rzeczpospolita, Barnier restated the consensus EU position that the withdrawal deal must stand and that it is up to May's government to find a way to save it. But he suggested that Brussels would be flexible and modify the political declaration on hopes for future ties, agreed alongside the binding withdrawal deal if Britain were to compromise on May's positions. "We are ready to be more ambitious if the British decide to shift their red lines, for example by remaining in a customs union, or participating in the single market," he said, according to the Luxemburger Wort. "I believe there is a readiness in London for that." Manufacturing sentiment drops The political crisis in London comes against a backdrop of growing economic gloom, with business leaders warning politicians of the effects of Brexit uncertainty. A Confederation of British Industry survey of 326 manufacturing firms on Wednesday found that new orders flattened in the quarter to January and sentiment about both the business situation and export prospects tumbled. Business concerns are particularly high over the prospect of a no-deal Brexit, which could immediately impose high tariffs on key exports such as food and cars. A disruptive Brexit could also have a major impact on transport hubs such as ports and airports.

UK plays down concerns over Brexit as Sony moves European headquarters to Netherlands

Former British prime minister Tony Blair said on Thursday&nbsp;that he believed the chances of a second Brexit referendum taking place were now greater than 50 percent.

With just over nine weeks until Britain is due to leave the EU, there is still no deal on the divorce terms and future relations, after parliament last week crushingly defeated the plan that Prime Minister Theresa May had negotiated.

"The real options have dawned on the members of parliament and therefore, there's not really a majority at the moment for any Brexit proposition," Blair, who opposes leaving the European Union, told Reuters TV at the World Economic Forum in Davos.

Since rejecting May's deal, British lawmakers have failed to unite behind any other option and remain deeply divided over how to proceed. Some favour a second referendum as a way of breaking the deadlock in parliament.

Blair, from the main opposition Labour Party and prime minister from 1997 to 2007, said Britain was faced with the choice of a "pointless" Brexit that would render the country a "rule-taker", or a painful break away from the EU.

Former British prime minister Tony Blair said on Thursday that he believed the chances of a second Brexit referendum taking place were now greater than 50 percent.

Former British prime minister Tony Blair said on Thursday that he believed the chances of a second Brexit referendum taking place were now greater than 50 percent. With just over nine weeks until Britain is due to leave the EU, there is still no deal on the divorce terms and future relations, after parliament last week crushingly defeated the plan that Prime Minister Theresa May had negotiated. "The real options have dawned on the members of parliament and therefore, there's not really a majority at the moment for any Brexit proposition," Blair, who opposes leaving the European Union, told Reuters TV at the World Economic Forum in Davos. Since rejecting May's deal, British lawmakers have failed to unite behind any other option and remain deeply divided over how to proceed. Some favour a second referendum as a way of breaking the deadlock in parliament. Blair, from the main opposition Labour Party and prime minister from 1997 to 2007, said Britain was faced with the choice of a "pointless" Brexit that would render the country a "rule-taker", or a painful break away from the EU.

'50-50 chance of second Brexit referendum': Ex British PM Tony Blair

Britain's Prince William revealed on Wednesday that "not one celebrity" had originally wanted to join a mental health campaign he started in 2016 with his wife Kate and brother Harry.

"We went out to a lot of people and nobody, before we started, was interested in being a part of 'Heads Together' – because it was mental health," he said, speaking on a panel at the World Economic Forum in the Swiss resort of Davos.

William, who is second in line to the British throne, also opened up about his experiences of dealing with trauma during his daily work in the air ambulance, which he retired from two years ago.

Remembering a particularly affecting incident, he said: “I know if I hadn’t taken the action I did then, I would have definitely gone down a slippery slope and I would have been dealing with mental illness on a different level."

His fellow panellist, New Zealand's Prime Minister Jacinda Ardern, praised the prince for speaking out about mental health issues.

Ardern, at 38 the world’s youngest female head of government, has said she will introduce New Zealand's first ‘well-being budget’ to gauge how policy impacts the quality of people’s lives.

"I think unfortunately one of the sad facts for New Zealand is that everyone knows someone who has taken their own life. We're a small country, less than 5 million people, but last year more than 600 people committed suicide," she said.

"I’ve lost friends and I wouldn't have to look far in my cabinet to find others who have as well," Ardern added.

William, who has previously warned British men of the dangers of keeping a traditional "stiff upper lip" at times of stress, said he thought his country’s difficulties with expressing emotions came from a wartime generation who passed on a tendency not to talk about problems.

Asked what he thought leaders should do to tackle mental health issues, William told the Davos crowd: "I think more leaders need to talk about it."

Britain's Prince William revealed on Wednesday that "not one celebrity" had originally wanted to join a mental health campaign he started in 2016 with his wife Kate and brother Harry.

Britain's Prince William revealed on Wednesday that "not one celebrity" had originally wanted to join a mental health campaign he started in 2016 with his wife Kate and brother Harry. "We went out to a lot of people and nobody, before we started, was interested in being a part of 'Heads Together' – because it was mental health," he said, speaking on a panel at the World Economic Forum in the Swiss resort of Davos. William, who is second in line to the British throne, also opened up about his experiences of dealing with trauma during his daily work in the air ambulance, which he retired from two years ago. Remembering a particularly affecting incident, he said: “I know if I hadn’t taken the action I did then, I would have definitely gone down a slippery slope and I would have been dealing with mental illness on a different level." His fellow panellist, New Zealand's Prime Minister Jacinda Ardern, praised the prince for speaking out about mental health issues. Ardern, at 38 the world’s youngest female head of government, has said she will introduce New Zealand's first ‘well-being budget’ to gauge how policy impacts the quality of people’s lives. "I think unfortunately one of the sad facts for New Zealand is that everyone knows someone who has taken their own life. We're a small country, less than 5 million people, but last year more than 600 people committed suicide," she said. "I’ve lost friends and I wouldn't have to look far in my cabinet to find others who have as well," Ardern added. William, who has previously warned British men of the dangers of keeping a traditional "stiff upper lip" at times of stress, said he thought his country’s difficulties with expressing emotions came from a wartime generation who passed on a tendency not to talk about problems. Asked what he thought leaders should do to tackle mental health issues, William told the Davos crowd: "I think more leaders need to talk about it."

Britain's Prince William tackles mental health taboo at Davos

Davos 2019: WION speaks exclusively to Tech Mahindra MD&CEO

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

Far-right President Jair Bolsonaro touted a "new Brazil" in a speech Tuesday to the world's business elite in Davos, vowing an investment-friendly agenda and attacking leftwing politics in Latin America.

The new leader of the region's biggest economy gave the keynote address at this year's World Economic Forum, where warnings are mounting of the dangers of a growth slowdown, yawning inequality and disastrous climate change.&nbsp;

US President Donald Trump along with the leaders of France, Britain and Zimbabwe have stayed away from the Swiss ski resort as they fight political fires back home.

A trip to Davos by US officials including Secretary of State Mike Pompeo was also cancelled by Trump. But Pompeo addressed the conference by video-link from Washington on a range of foreign-policy challenges, after Bolsonaro's speech.

Like Trump, Bolsonaro surfed a populist wave to ride to power, vowing an end to rampant corruption and restoration of law and order in Brazil.&nbsp;

'Changing our history'

But staging his first foreign trip as president, Bolsonaro has left behind a scandal about suspicious payments involving his politician son Flavio Bolsonaro, who denies any wrongdoing.&nbsp;

Focusing instead on a pro-business message at the WEF, Bolsonaro told his well-heeled audience that he was determined to open up Brazil's economy, slash red tape and lower taxes.&nbsp;

"I want to introduce to all of you the new Brazil we are building," he said. "We are committed to changing our history."

Addressing civil society's deep concerns over his authoritarian leanings, Bolsonaro said "true human rights" were safe under his government as it would protect the right to life and safety of property.&nbsp;

In a nod to Venezuela and other regional hotbeds of socialism, he also said the left wing would "not prevail" in Latin America.

And he insisted the natural environment was also safe, despite fears that the new government will open up the Amazon rainforest further to agribusiness and loggers.

The reaction to the speech was muted, with Davos-goers saying there was little to go by in the leader's short and sometimes stilted address.

"He's obviously very green from a policy point of view but maybe he won't be corrupt which would be such an improvement," Harvard professor Kenneth Rogoff, a former IMF chief economist, told AFP after the speech.

Trump of the Tropics

While Bolsonaro's promises on investment and deregulation have wowed the Brazilian stock market, he has also taken a page from the Trump playbook in bashing China.

Greenpeace executive director Jennifer Morgan said Bolsonaro should not have been afforded the "prestigious platform" of the WEF in Davos, "because I think it just buttresses that type of approach that he is taking".&nbsp;

It was up to the company bosses present in Davos to push back and "actually prioritise the Amazon and reducing deforestation over their short-term business interest", she told AFP, "because the Amazon is a fundamental part of how the whole planet works".&nbsp;

However, a new analysis by the World Resources Institute said the world is on course to miss its "best chance" of preventing runaway climate change, by ensuring global greenhouse gas emissions peak in 2020.

The WEF week features an eclectic lineup of discussions devoted to issues such as mindful parenting in the digital age, chronic loneliness and harnessing artificial intelligence without destroying jobs.

It is drawing some 3,000 political and business figures, including 65 government leaders from Germany, Israel and elsewhere.&nbsp;

Growth down, inequality up

Trump pulled out of Davos because of the partial US government shutdown and then yanked his entire delegation, removing any prospect of trade peacemaking in the Alps with Chinese Vice President Wang Qishan.

While economic growth is slowing, aid charity Oxfam warned the Davos elite that inequality around the world most certainly is not.

The wealth of the world's 26 richest people is now equivalent to that of the poorest half of humanity, Oxfam said, warning that such an imbalance was stoking popular anger and undermining democracies around the world.

Far-right President Jair Bolsonaro touted a "new Brazil" in a speech Tuesday to the world's business elite in Davos, vowing an investment-friendly agenda and attacking leftwing politics in Latin America.

Far-right President Jair Bolsonaro touted a "new Brazil" in a speech Tuesday to the world's business elite in Davos, vowing an investment-friendly agenda and attacking leftwing politics in Latin America. The new leader of the region's biggest economy gave the keynote address at this year's World Economic Forum, where warnings are mounting of the dangers of a growth slowdown, yawning inequality and disastrous climate change. US President Donald Trump along with the leaders of France, Britain and Zimbabwe have stayed away from the Swiss ski resort as they fight political fires back home. A trip to Davos by US officials including Secretary of State Mike Pompeo was also cancelled by Trump. But Pompeo addressed the conference by video-link from Washington on a range of foreign-policy challenges, after Bolsonaro's speech. Like Trump, Bolsonaro surfed a populist wave to ride to power, vowing an end to rampant corruption and restoration of law and order in Brazil. 'Changing our history' But staging his first foreign trip as president, Bolsonaro has left behind a scandal about suspicious payments involving his politician son Flavio Bolsonaro, who denies any wrongdoing. Focusing instead on a pro-business message at the WEF, Bolsonaro told his well-heeled audience that he was determined to open up Brazil's economy, slash red tape and lower taxes. "I want to introduce to all of you the new Brazil we are building," he said. "We are committed to changing our history." Addressing civil society's deep concerns over his authoritarian leanings, Bolsonaro said "true human rights" were safe under his government as it would protect the right to life and safety of property. In a nod to Venezuela and other regional hotbeds of socialism, he also said the left wing would "not prevail" in Latin America. And he insisted the natural environment was also safe, despite fears that the new government will open up the Amazon rainforest further to agribusiness and loggers. The reaction to the speech was muted, with Davos-goers saying there was little to go by in the leader's short and sometimes stilted address. "He's obviously very green from a policy point of view but maybe he won't be corrupt which would be such an improvement," Harvard professor Kenneth Rogoff, a former IMF chief economist, told AFP after the speech. Trump of the Tropics While Bolsonaro's promises on investment and deregulation have wowed the Brazilian stock market, he has also taken a page from the Trump playbook in bashing China. Greenpeace executive director Jennifer Morgan said Bolsonaro should not have been afforded the "prestigious platform" of the WEF in Davos, "because I think it just buttresses that type of approach that he is taking". It was up to the company bosses present in Davos to push back and "actually prioritise the Amazon and reducing deforestation over their short-term business interest", she told AFP, "because the Amazon is a fundamental part of how the whole planet works". However, a new analysis by the World Resources Institute said the world is on course to miss its "best chance" of preventing runaway climate change, by ensuring global greenhouse gas emissions peak in 2020. The WEF week features an eclectic lineup of discussions devoted to issues such as mindful parenting in the digital age, chronic loneliness and harnessing artificial intelligence without destroying jobs. It is drawing some 3,000 political and business figures, including 65 government leaders from Germany, Israel and elsewhere. Growth down, inequality up Trump pulled out of Davos because of the partial US government shutdown and then yanked his entire delegation, removing any prospect of trade peacemaking in the Alps with Chinese Vice President Wang Qishan. While economic growth is slowing, aid charity Oxfam warned the Davos elite that inequality around the world most certainly is not. The wealth of the world's 26 richest people is now equivalent to that of the poorest half of humanity, Oxfam said, warning that such an imbalance was stoking popular anger and undermining democracies around the world.

Far-right Jair Bolsonaro sells 'new Brazil' to Davos elite

Global uncertainties, including populism and economic slowdown, have cast a shadow over the World Economic Forum (WEF)'s 2019 annual meeting, which officially opened in Davos, Switzerland, on Monday.

As leaders gathered for the annual meeting,&nbsp;WION spoke to the former governor of Reserve Bank of India, Raghuram Rajan&nbsp;who is also attending the event. Speaking to&nbsp;WION's correspondent, Sumit Chaturvedi, Rajan&nbsp;said that there is underlying strength in&nbsp;the global economy.

Commenting on the recent forecast by International Monetary Fund(IMF) on global economic growth, Rajan said he agrees with IMF and said that there are clouds hanging over the world economy as China is underperforming in comparison to its&nbsp;past record&nbsp;and the US is also suffering due to the government shutdown.

"Well, I have no reason to differ from the IMF, there is broadly strength in the underlying economy, there are some clouds, certainly, China is underperforming relative&nbsp;to the past...in the US there are issues like a government shutdown, so we have to wait and see," Rajan&nbsp;said.

Commenting on the World Economic Forum, Rajan said, "It's just started so not much has happened so far..will see what people say, what people think..it's a process of discussion and debate."

Experts have said that the absence of western leaders at the Davos meeting has added to the challenges brought by populism to the globalisation process.

Meanwhile, fears of a global slowdown have jolted markets and forced the US Federal Reserve Bank to signal a pause in its interest rate hike cycle, as investors fret about increasing weak signs in China and the fallout from Sino-US trade frictions.

Data released on Monday showed China's economy cooled in the fourth quarter on faltering domestic demand and bruising US&nbsp;tariffs, dragging 2018 growth to the lowest in nearly three decades.

Topics such as global economic landscape, climate change, artificial intelligence and digitalisation are also on top of the agenda at the WEF.

Global uncertainties, including populism and economic slowdown, have cast a shadow over the World Economic Forum (WEF)'s 2019 annual meeting, which officially opened in Davos, Switzerland, on Monday.

Global uncertainties, including populism and economic slowdown, have cast a shadow over the World Economic Forum (WEF)'s 2019 annual meeting, which officially opened in Davos, Switzerland, on Monday. As leaders gathered for the annual meeting, WION spoke to the former governor of Reserve Bank of India, Raghuram Rajan who is also attending the event. Speaking to WION's correspondent, Sumit Chaturvedi, Rajan said that there is underlying strength in the global economy. Commenting on the recent forecast by International Monetary Fund(IMF) on global economic growth, Rajan said he agrees with IMF and said that there are clouds hanging over the world economy as China is underperforming in comparison to its past record and the US is also suffering due to the government shutdown. "Well, I have no reason to differ from the IMF, there is broadly strength in the underlying economy, there are some clouds, certainly, China is underperforming relative to the past...in the US there are issues like a government shutdown, so we have to wait and see," Rajan said. Commenting on the World Economic Forum, Rajan said, "It's just started so not much has happened so far..will see what people say, what people think..it's a process of discussion and debate." Experts have said that the absence of western leaders at the Davos meeting has added to the challenges brought by populism to the globalisation process. Meanwhile, fears of a global slowdown have jolted markets and forced the US Federal Reserve Bank to signal a pause in its interest rate hike cycle, as investors fret about increasing weak signs in China and the fallout from Sino-US trade frictions. Data released on Monday showed China's economy cooled in the fourth quarter on faltering domestic demand and bruising US tariffs, dragging 2018 growth to the lowest in nearly three decades. Topics such as global economic landscape, climate change, artificial intelligence and digitalisation are also on top of the agenda at the WEF.

Watch: China underperforming relative to past, says Ex RBI chief Raghuram Rajan in Davos

The International Monetary Fund said Monday it was "imperative" to resolve the uncertainty surrounding how Britain will leave the European Union, which it said was posing a threat to the British and global economy.

"We have already seen the negative effect of this uncertainty on British investment," IMF chief economist Gita Gopinath told reporters in Davos ahead of the opening of the World Economic Forum.

"It is imperative for leaders to resolve this uncertainty immediately."

The IMF had already calculated that if Britain crashed out of the EU without a deal the result would be "a decline in long-run ... GDP of five to eight per cent", she said.

"So that would be quite significant. It is absolutely essential that this uncertainty is resolved sooner than later," she said.

Gopinath's comments came after the IMF released an update to its global economic forecast, showing that a range of uncertainties, including Brexit, but also US-China trade confrontations, were threatening to drag down global growth even further.

The World Economic Outlook cut the global GDP forecast for this year to 3.5 per cent from the 3.7 per cent projected in October. And for 2020 the estimate was trimmed to 3.6 per cent.

While it cut forecasts for a number of national economies, it forecast 1.5 per cent 2019 growth for Britain, the same as in October.

But it warned the estimate is fraught with uncertainty since "as of mid-January, the shape that Brexit will ultimately take remains highly uncertain".

London and Brussels have spent the best part of two years working on a divorce deal, but members of Britain's lower House of Commons comprehensively rejected Prime Minister Theresa May's proposed deal last week.

She will unveil a "Plan B" on Monday, but fears are growing that Britain will crash out of the EU on March 29 unless MPs can force a delay or come up with an alternative plan that Brussels is also happy with, before the deadline.

The International Monetary Fund said Monday it was "imperative" to resolve the uncertainty surrounding how Britain will leave the European Union, which it said was posing a threat to the British and global economy.

The International Monetary Fund said Monday it was "imperative" to resolve the uncertainty surrounding how Britain will leave the European Union, which it said was posing a threat to the British and global economy. "We have already seen the negative effect of this uncertainty on British investment," IMF chief economist Gita Gopinath told reporters in Davos ahead of the opening of the World Economic Forum. "It is imperative for leaders to resolve this uncertainty immediately." The IMF had already calculated that if Britain crashed out of the EU without a deal the result would be "a decline in long-run ... GDP of five to eight per cent", she said. "So that would be quite significant. It is absolutely essential that this uncertainty is resolved sooner than later," she said. Gopinath's comments came after the IMF released an update to its global economic forecast, showing that a range of uncertainties, including Brexit, but also US-China trade confrontations, were threatening to drag down global growth even further. The World Economic Outlook cut the global GDP forecast for this year to 3.5 per cent from the 3.7 per cent projected in October. And for 2020 the estimate was trimmed to 3.6 per cent. While it cut forecasts for a number of national economies, it forecast 1.5 per cent 2019 growth for Britain, the same as in October. But it warned the estimate is fraught with uncertainty since "as of mid-January, the shape that Brexit will ultimately take remains highly uncertain". London and Brussels have spent the best part of two years working on a divorce deal, but members of Britain's lower House of Commons comprehensively rejected Prime Minister Theresa May's proposed deal last week. She will unveil a "Plan B" on Monday, but fears are growing that Britain will crash out of the EU on March 29 unless MPs can force a delay or come up with an alternative plan that Brussels is also happy with, before the deadline.

Imperative to resolve Brexit uncertainty immediately: IMF

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