Davos is not just a gathering; it's a power play.
The real influence often lies in informal settings – private dinners, sideline meetings and impromptu gatherings.
These are where deals are made, initiatives are shaped and future policies are drafted.
Understanding the dynamics requires a look beyond the main stage to the quieter corridors where global leaders converge.
The small town in the canton of Graubünden, Switzerland, is renowned far beyond its geographical size.
Nestled in the Swiss Alps, it is known primarily for hosting the World Economic Forum (WEF), making it a synonym for influential global discussions on economics, politics, and society.
The high-profile nature of the events it hosts stands in stark contrast to the town's quiet charm.
Not only is it a meeting ground for the world's elites, but it its renowned skiing and health care facilities add to its appeal.
“Davos is a useful forum for the dissemination of ideas within an audience of global leaders, and for networking between them,” Dimitri Vayanos, Professor of Finance at the London School of Economics and Political Science and director of Financial Markets Group, told The National.
“Bringing diverse perspectives on how best to address global challenges can generate new ideas and approaches.
“The discussions at Davos have been impactful, as have been the networking and bilateral deals that are being made.”
The birth of the World Economic Forum in Davos
The town first rose to prominence with the founding of the World Economic Forum in 1971 by Klaus Schwab.
Initially a European-centric gathering, called the European Management Forum, it was envisioned as a platform for businesses to catch up with US management practices.
But its scope rapidly expanded, and by the late 1970s it had started attracting political and world leaders alongside business executives and intellectuals.
In 1987, The European Management Forum was renamed the World Economic Forum to reflect its broader agenda.
Why Davos?
The choice of Davos as the location for these high-profile meetings wasn't accidental.
Professor Schwab, a German-born engineer and economist, wanted participants to be able to escape from the everyday hustle and bustle of life.
His personal appreciation of the setting and its conducive environment for reflection and discussion, played a key role in his decision.
He hoped Davos, which inspired Thomas Mann's novel The Magic Mountain, would help people feel relaxed enough to speak frankly, while maintaining camaraderie of purpose and mutual respect.
This became known as the “Davos Spirit”, still the hallmark of the forum's gatherings.
How does WEF benefit Davos?
The World Economic Forum is traditionally held in January, this year from January 15-19.
Renowned for its exclusive roster of attendees and high-stakes discussions, the WEF is a pivotal event on the international stage, shaping policies and steering global agendas.
It acts as a convergence point for political leaders, business moguls, leaders of international organisations, celebrities, intellectuals and journalists to tackle critical global issues such as economic trends, climate change and international conflicts.
In recent years, the Davos forum has expanded its focus to include broader social, environmental and technological issues.
Mayor of Davos, Philipp Wilhelm, said the town relies on the WEF, with some of its 42 hotels charging up to $53,000 per night for their top suites.
“A lot of companies, and a lot of people, rely on revenue from the WEF.
“Some of the businesses are really dependent on the WEF week, when a few of them may make about 40 per cent of their annual income,” Mr Wilhelm said.
“Actually, I got into politics thanks to the WEF, because I started to think about how the economy works, how politics work. It was my entrance point.”
Davos beyond business
Davos increasingly addresses issues faced by diverse communities worldwide.
The forum has become a platform for raising awareness about challenges in less privileged regions, making global leaders more accountable and responsive to varied societal needs.
Davos has played a crucial role in initiating and fostering social initiatives. The forum has also been a ground for discussions and commitments towards tackling climate change, promoting sustainable development and protecting biodiversity.
The WEF has progressively emphasised the use of technology for societal good, catalysing initiatives that range from healthcare advancements to educational innovations.
Preparations for the World Economic Forum in Davos – in pictures
Winter wonderland or white elephant?
Hosting the WEF in Davos brings with it a complex interplay of economic and environmental impacts that significantly affect the local community.
Economically, the event is a boon, as the influx of visitors boosts revenue for hotels, restaurants and other businesses.
This surge in demand often translates into temporary job opportunities and increased local income.
Additionally, the global exposure Davos receives from hosting such a prestigious event enhances its profile as a destination, potentially attracting more tourists and investors year-round.
However, the economic benefits come with their challenges.
The event can lead to inflated prices for local services and accommodation, adversely affecting residents and smaller businesses not directly involved in the WEF.
The economic windfall is often unevenly distributed, with larger businesses and the hospitality sector reaping most of the rewards, potentially exacerbating inequality within the community.
Environmentally, the WEF serves as a critical platform for global environmental dialogue. However, this is contrasted by the significant carbon footprint generated by the arrival of thousands of participants, many via private jets and vehicles.
This influx places a considerable strain on local resources like water, energy, and waste management services, challenging the infrastructure and the environment.
The need to constantly upgrade facilities to accommodate the WEF also raises questions about sustainable development in Davos and long-term ecological impacts.
Company%20profile
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RESULTS
5pm: Sheikh Mansour bin Zayed Al Nahyan Racing Festival Purebred Arabian Cup Conditions (PA) Dh 200,000 (Turf) 1,600m
Winner: Hameem, Adrie de Vries (jockey), Abdallah Al Hammadi (trainer)
5.30pm: Sheikha Fatima bint Mubarak Cup Conditions (PA) Dh 200,000 (T) 1,600m
Winner: Winked, Connor Beasley, Abdallah Al Hammadi
6pm: Sheikh Sultan bin Zayed Al Nahyan National Day Cup Listed (TB) Dh 380,000 (T) 1,600m
Winner: Boerhan, Ryan Curatolo, Nicholas Bachalard
6.30pm: Sheikh Sultan bin Zayed Al Nahyan National Day Group 3 (PA) Dh 500,000 (T) 1,600m
Winner: AF Alwajel, Tadhg O’Shea, Ernst Oertel
7pm: Sheikh Sultan bin Zayed Al Nahyan National Day Jewel Crown Group 1 (PA) Dh 5,000,000 (T) 2,200m
Winner: Messi, Pat Dobbs, Timo Keersmaekers
7.30pm: Sheikh Mansour bin Zayed Al Nahyan Racing Festival Handicap (PA) Dh 150,000 (T) 1,400m
Winner: Harrab, Ryan Curatolo, Jean de Roualle
8pm: Wathba Stallions Cup Handicap (PA) Dh 100,000 (T) 1,400m
Winner: AF Alareeq, Connor Beasley, Ahmed Al Mehairbi
KILLING OF QASSEM SULEIMANI
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Killing of Qassem Suleimani
NYBL PROFILE
Company name: Nybl
Date started: November 2018
Founder: Noor Alnahhas, Michael LeTan, Hafsa Yazdni, Sufyaan Abdul Haseeb, Waleed Rifaat, Mohammed Shono
Based: Dubai, UAE
Sector: Software Technology / Artificial Intelligence
Initial investment: $500,000
Funding round: Series B (raising $5m)
Partners/Incubators: Dubai Future Accelerators Cohort 4, Dubai Future Accelerators Cohort 6, AI Venture Labs Cohort 1, Microsoft Scale-up
The Land between Two Rivers: Writing in an Age of Refugees
Tom Sleigh, Graywolf Press
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More coverage from the Future Forum
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
England-South Africa Test series
1st Test England win by 211 runs at Lord's, London
2nd Test South Africa win by 340 runs at Trent Bridge, Nottingham
3rd Test July 27-31 at The Oval, London
4th Test August 4-8 at Old Trafford, Manchester
Ad Astra
Director: James Gray
Stars: Brad Pitt, Tommy Lee Jones
Five out of five stars
COMPANY%20PROFILE
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Know before you go
- Jebel Akhdar is a two-hour drive from Muscat airport or a six-hour drive from Dubai. It’s impossible to visit by car unless you have a 4x4. Phone ahead to the hotel to arrange a transfer.
- If you’re driving, make sure your insurance covers Oman.
- By air: Budget airlines Air Arabia, Flydubai and SalamAir offer direct routes to Muscat from the UAE.
- Tourists from the Emirates (UAE nationals not included) must apply for an Omani visa online before arrival at evisa.rop.gov.om. The process typically takes several days.
- Flash floods are probable due to the terrain and a lack of drainage. Always check the weather before venturing into any canyons or other remote areas and identify a plan of escape that includes high ground, shelter and parking where your car won’t be overtaken by sudden downpours.
ELIO
Starring: Yonas Kibreab, Zoe Saldana, Brad Garrett
Directors: Madeline Sharafian, Domee Shi, Adrian Molina
Rating: 4/5
AUSTRALIA SQUAD
Aaron Finch, Matt Renshaw, Brendan Doggett, Michael Neser, Usman Khawaja, Shaun Marsh, Mitchell Marsh, Tim Paine (captain), Travis Head, Marnus Labuschagne, Nathan Lyon, Jon Holland, Ashton Agar, Mitchell Starc, Peter Siddle
Founders: Abdulmajeed Alsukhan, Turki Bin Zarah and Abdulmohsen Albabtain.
Based: Riyadh
Offices: UAE, Vietnam and Germany
Founded: September, 2020
Number of employees: 70
Sector: FinTech, online payment solutions
Funding to date: $116m in two funding rounds
Investors: Checkout.com, Impact46, Vision Ventures, Wealth Well, Seedra, Khwarizmi, Hala Ventures, Nama Ventures and family offices
The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
Gothia Cup 2025
4,872 matches
1,942 teams
116 pitches
76 nations
26 UAE teams
15 Lebanese teams
2 Kuwaiti teams
Results
Stage 7:
1. Caleb Ewan (AUS) Lotto Soudal - 3:18:29
2. Sam Bennett (IRL) Deceuninck-QuickStep - same time
3. Phil Bauhaus (GER) Bahrain Victorious
4. Michael Morkov (DEN) Deceuninck-QuickStep
5. Cees Bol (NED) Team DSM
General Classification:
1. Tadej Pogacar (SLO) UAE Team Emirates - 24:00:28
2. Adam Yates (GBR) Ineos Grenadiers - 0:00:35
3. Joao Almeida (POR) Deceuninck-QuickStep - 0:01:02
4. Chris Harper (AUS) Jumbo-Visma - 0:01:42
5. Neilson Powless (USA) EF Education-Nippo - 0:01:45
Dubai works towards better air quality by 2021
Dubai is on a mission to record good air quality for 90 per cent of the year – up from 86 per cent annually today – by 2021.
The municipality plans to have seven mobile air-monitoring stations by 2020 to capture more accurate data in hourly and daily trends of pollution.
These will be on the Palm Jumeirah, Al Qusais, Muhaisnah, Rashidiyah, Al Wasl, Al Quoz and Dubai Investment Park.
“It will allow real-time responding for emergency cases,” said Khaldoon Al Daraji, first environment safety officer at the municipality.
“We’re in a good position except for the cases that are out of our hands, such as sandstorms.
“Sandstorms are our main concern because the UAE is just a receiver.
“The hotspots are Iran, Saudi Arabia and southern Iraq, but we’re working hard with the region to reduce the cycle of sandstorm generation.”
Mr Al Daraji said monitoring as it stood covered 47 per cent of Dubai.
There are 12 fixed stations in the emirate, but Dubai also receives information from monitors belonging to other entities.
“There are 25 stations in total,” Mr Al Daraji said.
“We added new technology and equipment used for the first time for the detection of heavy metals.
“A hundred parameters can be detected but we want to expand it to make sure that the data captured can allow a baseline study in some areas to ensure they are well positioned.”
RESULTS
Light Flyweight (48kg): Alua Balkibekova (KAZ) beat Gulasal Sultonalieva (UZB) by points 4-1.
Flyweight (51kg): Nazym Kyzaibay (KAZ) beat Mary Kom (IND) 3-2.
Bantamweight (54kg): Dina Zholaman (KAZ) beat Sitora Shogdarova (UZB) 3-2.
Featherweight (57kg): Sitora Turdibekova (UZB) beat Vladislava Kukhta (KAZ) 5-0.
Lightweight (60kg): Rimma Volossenko (KAZ) beat Huswatun Hasanah (INA) KO round-1.
Light Welterweight (64kg): Milana Safronova (KAZ) beat Lalbuatsaihi (IND) 3-2.
Welterweight (69kg): Valentina Khalzova (KAZ) beat Navbakhor Khamidova (UZB) 5-0
Middleweight (75kg): Pooja Rani (IND) beat Mavluda Movlonova (UZB) 5-0.
Light Heavyweight (81kg): Farida Sholtay (KAZ) beat Ruzmetova Sokhiba (UZB) 5-0.
Heavyweight (81 kg): Lazzat Kungeibayeva (KAZ) beat Anupama (IND) 3-2.
The specs
Engine: 1.5-litre 4-cyl turbo
Power: 194hp at 5,600rpm
Torque: 275Nm from 2,000-4,000rpm
Transmission: 6-speed auto
Price: from Dh155,000
On sale: now
Company%20Profile
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Global state-owned investor ranking by size
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United States
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China
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UAE
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Japan
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Norway
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Canada
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Singapore
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Australia
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Saudi Arabia
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South Korea
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Company%20Profile
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Tuesday's fixtures
Kyrgyzstan v Qatar, 5.45pm
More from Neighbourhood Watch:
Greatest of All Time
Starring: Vijay, Sneha, Prashanth, Prabhu Deva, Mohan
Match info
Manchester United 4
(Pogba 5', 33', Rashford 45', Lukaku 72')
Bournemouth 1
(Ake 45 2')
Red card: Eric Bailly (Manchester United)
Top tips to avoid cyber fraud
Microsoft’s ‘hacker-in-chief’ David Weston, creator of the tech company’s Windows Red Team, advises simple steps to help people avoid falling victim to cyber fraud:
1. Always get the latest operating system on your smartphone or desktop, as it will have the latest innovations. An outdated OS can erode away all investments made in securing your device or system.
2. After installing the latest OS version, keep it patched; this means repairing system vulnerabilities which are discovered after the infrastructure components are released in the market. The vast majority of attacks are based on out of date components – there are missing patches.
3. Multi-factor authentication is required. Move away from passwords as fast as possible, particularly for anything financial. Cybercriminals are targeting money through compromising the users’ identity – his username and password. So, get on the next level of security using fingertips or facial recognition.
4. Move your personal as well as professional data to the cloud, which has advanced threat detection mechanisms and analytics to spot any attempt. Even if you are hit by some ransomware, the chances of restoring the stolen data are higher because everything is backed up.
5. Make the right hardware selection and always refresh it. We are in a time where a number of security improvement processes are reliant on new processors and chip sets that come with embedded security features. Buy a new personal computer with a trusted computing module that has fingerprint or biometric cameras as additional measures of protection.
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Cricket World Cup League 2 Fixtures
Saturday March 5, UAE v Oman, ICC Academy (all matches start at 9.30am)
Sunday March 6, Oman v Namibia, ICC Academy
Tuesday March 8, UAE v Namibia, ICC Academy
Wednesday March 9, UAE v Oman, ICC Academy
Friday March 11, Oman v Namibia, Sharjah Cricket Stadium
Saturday March 12, UAE v Namibia, Sharjah Cricket Stadium
UAE squad
Ahmed Raza (captain), Chirag Suri, Muhammad Waseem, CP Rizwan, Vriitya Aravind, Asif Khan, Basil Hameed, Rohan Mustafa, Kashif Daud, Zahoor Khan, Junaid Siddique, Karthik Meiyappan, Akif Raja, Rahul Bhatia
Mobile phone packages comparison
Sole survivors
- Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
- George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
- Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
- Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
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
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UAE currency: the story behind the money in your pockets
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