Serious action must follow words at Davos

As the World Economic Forum winds down, and leaders of nations and business make their orderly exit from the snowy Swiss town of Davos, a window opens for discussion of the state of the world, and where it is headed. As ever, the conference grappled with the most pressing issues of our time, from the challenges facing globalisation to the fourth industrial revolution, climate change and the implications of radical technological advancement. The forum's aims are certainly lofty, but that is no reason not to try. The reality is that the major problems we face today must be tackled together. And yet nations from the UK and US to Brazil are turning their backs on the multilateralism that Davos has long advocated. As we are propelled forwards by the extraordinary pace of global change, the world needs careful, co-operative policymaking and collaboration between the public and private sectors. And the objectives outlined at Davos will count for nothing if governments and businesses do not put in the serious work of implementing them.

We learnt much from this year's forum. A host of business and tech leaders outlined how automation and artificial intelligence will drive our futures. Those winds are already blowing, and societies must find equally innovative ways to adapt. The veteran broadcaster David Attenborough issued a dire warning about the imminent threat of climate change. Filippo Grandi, the UN high commissioner for refugees, appealed to world leaders to take responsibility for those torn from their homes by war, while the head of the International Monetary Fund, Christine Lagarde, laid out the threat posed to global growth by the ongoing US-China trade war. Particularly powerful were the words of Antonio Guterres, secretary general of the UN, who said the world was "on course for a disaster". A host of other issues, from gender discrimination to privacy, also drew attention. With so many cautionary words, this could be seen as a pessimistic Davos. But as the WEF itself declared prior to this year's conference, belief in globalisation and international co-operation remains undimmed across the world. Only dialogue can offer a solution to the problems we face. It is from conferences like the WEF that such co-operation emerges.

Critics blame its elite participants for creating the system that birthed the world's biggest problems. Shortly before the conference began, Oxfam reported that the world's 26 wealthiest individuals own as much as its poorest 50 per cent. Against that backdrop, it is not enough to defend globalisation in word only, while billions face hunger, conflict and economic decline. The participants of Davos have committed to "improving the state of the world". They must now prove that they are living up to it.

Benefits of first-time home buyers' scheme

Priority access to new homes from participating developers
Discounts on sales price of off-plan units
Flexible payment plans from developers
Mortgages with better interest rates, faster approval times and reduced fees
DLD registration fee can be paid through banks or credit cards at zero interest rates

How much do leading UAE’s UK curriculum schools charge for Year 6?

Nord Anglia International School (Dubai) – Dh85,032
Kings School Al Barsha (Dubai) – Dh71,905
Brighton College Abu Dhabi - Dh68,560
Jumeirah English Speaking School (Dubai) – Dh59,728
Gems Wellington International School – Dubai Branch – Dh58,488
The British School Al Khubairat (Abu Dhabi) - Dh54,170
Dubai English Speaking School – Dh51,269

*Annual tuition fees covering the 2024/2025 academic year

The biog

Hobbies: Salsa dancing “It's in my blood” and listening to music in different languages

Favourite place to travel to: “Thailand, as it's gorgeous, food is delicious, their massages are to die for!”

Favourite food: “I'm a vegetarian, so I can't get enough of salad.”

Favourite film: “I love watching documentaries, and am fascinated by nature, animals, human anatomy. I love watching to learn!”

Best spot in the UAE: “I fell in love with Fujairah and anywhere outside the big cities, where I can get some peace and get a break from the busy lifestyle”

The specs

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The specs

AT4 Ultimate, as tested

Engine: 6.2-litre V8

Power: 420hp

Torque: 623Nm

Transmission: 10-speed automatic

Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)

On sale: Now

Dhahdak 2

Director: Shazia Iqbal

Stars: Siddhant Chaturvedi, Triptii Dimri

Rating: 1/5

2019 ASIA CUP POTS

Pot 1
UAE, Iran, Australia, Japan, South Korea, Saudi Arabia

Pot 2
China, Syria, Uzbekistan, Iraq, Qatar, Thailand

Pot 3
Kyrgyzstan, Lebanon, Palestine, Oman, India, Vietnam

Pot 4
North Korea, Philippines, Bahrain, Jordan, Yemen, Turkmenistan

What the law says

Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.

“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.

“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”

If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.

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CHINESE GRAND PRIX STARTING GRID

1st row
Sebastian Vettel (Ferrari)
Kimi Raikkonen (Ferrari)

2nd row
Valtteri Bottas (Mercedes-GP)
Lewis Hamilton (Mercedes-GP)

3rd row
Max Verstappen (Red Bull Racing)
Daniel Ricciardo (Red Bull Racing)

4th row
Nico Hulkenberg (Renault)
Sergio Perez (Force India)

5th row
Carlos Sainz Jr (Renault)
Romain Grosjean (Haas)

6th row
Kevin Magnussen (Haas)
Esteban Ocon (Force India)

7th row
Fernando Alonso (McLaren)
Stoffel Vandoorne (McLaren)

8th row
Brendon Hartley (Toro Rosso)
Sergey Sirotkin (Williams)

9th row
Pierre Gasly (Toro Rosso)
Lance Stroll (Williams)

10th row
Charles Leclerc (Sauber)
arcus Ericsson (Sauber)

The Freedom Artist

By Ben Okri (Head of Zeus)

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GP3 race, 12:30pm

Formula 1 final practice, 2pm

Formula 1 qualifying, 5pm

Formula 2 race, 6:40pm

Performance: Sam Smith

500 People from Gaza enter France

115 Special programme for artists

25 Evacuation of injured and sick

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Labour dispute

The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.

- Abdullah Ishnaneh, Partner, BSA Law