This is the decade of "talentism" rather than capitalism, the World Economic Forum’s president said as the organisation begins a week of high-level online meetings to address climate action, the Covid-19 pandemic and the economic recovery.
Borge Brende, a former Norwegian foreign minister, told the Business Extra podcast that the success of a business was now also being measured by its ability to recruit and develop young talent.
“A company is not doing better than the talent a company can recruit,” he said.
It would not be possible to attract them “if you are not complying to the highest standards when it comes to social standards, when it comes to the environment and to corruption work.”
This is a “win-win” situation said Mr Brende, which has a positive impact for both business and the planet.
The forum has been arguing for decades that companies must do more than simply focus on their shareholders and move to take a broader responsibility for employees and society at large.
“No company can, in the 21st century, just operate with a narrow mind,” Mr Brende said.
“We have seen that the most brilliant people would like, of course, to work with those companies where you also pay back to society. Everyone would like to use their knowledge and the competence they have for improving the state of the world.”
Forum founder Klaus Schwab has said that amid the rapid advancement of technology, talentism will replace capitalism as companies attract people with the right skills to help them to acquire capital.
Mr Brende suggested co-operation between the public and private sectors would also become more commonplace.
The experience of the Covid-19 crisis – and, in particular, the fast development of vaccines – shows it to be the most effective way to meet challenges and harness opportunities.
“We have seen during this pandemic that if you really want to get something done, you also have to make it into public private partnerships,” he said.
The online Davos Agenda meeting, which starts on Monday, would include 2,000 participants and special addresses by heads of states and governments, including China's President Xi Jinping, said Mr Brende.
Also scheduled to take part are Indian Prime Minister Narendra Modi, UN Secretary General Antonio Guterres, European Commission President Ursula von der Leyen, Australian Prime Minister Scott Morrison, Indonesian President Joko Widodo and Israeli Prime Minister Naftali Bennett.
“We are able to have the two first global messages from the new chancellor of Germany, Olaf Sholz and Prime Minister [Fumio] Kishida, from Japan. We should not forget that these are the third and fourth-largest economies in the world,” he said.
Key topics for discussion this week include measures to tackle vaccine inequalities, co-operation on technology, the social contract between governments and populations, the energy transition and how to scale up climate action, as well as space exploration.
“Another one that will be incredibly important is how do we sustain inclusive economic growth, because you are not out of the woods yet when it comes to the pandemic. We are also seeing increasing debt, increasing inflation and also supply chain challenges,” said Mr Brende.
Also part of the event programme are World Health Organisation chief Tedros Adhanom Ghebreyesus, Anthony Fauci, a leading US expert on infectious diseases, International Monetary Fund managing director Kristalina Georgieva, Rwandan President Paul Kagame and US climate envoy John Kerry.
Officials from the Middle East region include Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman and Sarah Al Amiri, UAE Minister of State for Advanced Technology.
The forum aims to be back to holding in-person gatherings later in the year but the shift to online amid the pandemic has helped it to grow as an organisation.
“What we have seen during these two years – when we have had to run, also the World Economic Forum more as digital events and digital meetings – is that we have got more partners than before. And we have got a lot of things done also in that context,” said Mr Brende.
In this episode:
Key issues for WEF 2022 (1m 57s)
Could Covid disruption offer opportunity? (3m 00s)
Private and public sectors being brought together (4m 35s)
Companies taking more responsibility towards customers, society and the environment (7m 03s)
Davos online instead of in person (14m 05s)
Read more
Can the Middle East be the centre of the post-pandemic world?
WEF: Climate crisis seen as ‘world’s most critical danger’
World Economic Forum: Leaders must ensure global post-pandemic economy benefits all
UAE currency: the story behind the money in your pockets
Test
Director: S Sashikanth
Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan
Star rating: 2/5
COMPANY PROFILE
Name: Akeed
Based: Muscat
Launch year: 2018
Number of employees: 40
Sector: Online food delivery
Funding: Raised $3.2m since inception
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Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Mohammed bin Zayed Majlis
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
THE%20SPECS
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Skewed figures
In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
How to wear a kandura
Dos
- Wear the right fabric for the right season and occasion
- Always ask for the dress code if you don’t know
- Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work
- Wear 100 per cent cotton under the kandura as most fabrics are polyester
Don’ts
- Wear hamdania for work, always wear a ghutra and agal
- Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
Mountain%20Boy
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Match info
Uefa Champions League Group H
Manchester United v Young Boys, Tuesday, midnight (UAE)
Ms Yang's top tips for parents new to the UAE
- Join parent networks
- Look beyond school fees
- Keep an open mind
The smuggler
Eldarir had arrived at JFK in January 2020 with three suitcases, containing goods he valued at $300, when he was directed to a search area.
Officers found 41 gold artefacts among the bags, including amulets from a funerary set which prepared the deceased for the afterlife.
Also found was a cartouche of a Ptolemaic king on a relief that was originally part of a royal building or temple.
The largest single group of items found in Eldarir’s cases were 400 shabtis, or figurines.
Khouli conviction
Khouli smuggled items into the US by making false declarations to customs about the country of origin and value of the items.
According to Immigration and Customs Enforcement, he provided “false provenances which stated that [two] Egyptian antiquities were part of a collection assembled by Khouli's father in Israel in the 1960s” when in fact “Khouli acquired the Egyptian antiquities from other dealers”.
He was sentenced to one year of probation, six months of home confinement and 200 hours of community service in 2012 after admitting buying and smuggling Egyptian antiquities, including coffins, funerary boats and limestone figures.
For sale
A number of other items said to come from the collection of Ezeldeen Taha Eldarir are currently or recently for sale.
Their provenance is described in near identical terms as the British Museum shabti: bought from Salahaddin Sirmali, "authenticated and appraised" by Hossen Rashed, then imported to the US in 1948.
- An Egyptian Mummy mask dating from 700BC-30BC, is on offer for £11,807 ($15,275) online by a seller in Mexico
- A coffin lid dating back to 664BC-332BC was offered for sale by a Colorado-based art dealer, with a starting price of $65,000
- A shabti that was on sale through a Chicago-based coin dealer, dating from 1567BC-1085BC, is up for $1,950
PREMIER LEAGUE TABLE
1 Man City 26 20 3 3 63 17 63
2 Liverpool 25 17 6 2 64 20 57
3 Chelsea 25 14 8 3 49 18 50
4 Man Utd 26 13 7 6 44 34 46
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5 West Ham 26 12 6 8 45 34 42
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6 Arsenal 23 13 3 7 36 26 42
7 Wolves 24 12 4 8 23 18 40
8 Tottenham 23 12 4 8 31 31 39
Company%C2%A0profile
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The specs
Engine: 3.0-litre six-cylinder MHEV
Power: 360bhp
Torque: 500Nm
Transmission: eight-speed automatic
Price: from Dh282,870
On sale: now
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
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
Venom
Director: Ruben Fleischer
Cast: Tom Hardy, Michelle Williams, Riz Ahmed
Rating: 1.5/5
If you go...
Fly from Dubai or Abu Dhabi to Chiang Mai in Thailand, via Bangkok, before taking a five-hour bus ride across the Laos border to Huay Xai. The land border crossing at Huay Xai is a well-trodden route, meaning entry is swift, though travellers should be aware of visa requirements for both countries.
Flights from Dubai start at Dh4,000 return with Emirates, while Etihad flights from Abu Dhabi start at Dh2,000. Local buses can be booked in Chiang Mai from around Dh50
ENGLAND%20SQUAD
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Who is Allegra Stratton?
- Previously worked at The Guardian, BBC’s Newsnight programme and ITV News
- Took up a public relations role for Chancellor Rishi Sunak in April 2020
- In October 2020 she was hired to lead No 10’s planned daily televised press briefings
- The idea was later scrapped and she was appointed spokeswoman for Cop26
- Ms Stratton, 41, is married to James Forsyth, the political editor of The Spectator
- She has strong connections to the Conservative establishment
- Mr Sunak served as best man at her 2011 wedding to Mr Forsyth
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
Killing of Qassem Suleimani
