<![CDATA[ ]]>https://www.ptcnews.tv/wef-2018en-usSun, 28 Jan 2018 23:15:05 +0530<![CDATA[WEF 2018: Trump makes 15 new friends in Davos, three of Indian origin! ]]>https://www.ptcnews.tv/wef-2018-trump-makes-15-new-friends-davos-three-indian-origin US President Donald Trump Friday declared before a full house at Davos that he has made "15 new friends" whom he did not know before at a dinner last night -- including three of Indian origin. After a 'band' welcome and a nearly 20-minute speech, Trump sat down for a brief question and answers session with WEF Founder Klaus Schwab on the last day of the annual pow-wow of rich and powerful from across the 'fractured' world and began by complementing him for putting together this "really great" economic forum. Trump, who arrived here Thursday afternoon, told Schwab -- who on his part said the US President's strong leadership is open to misconceptions and biased interpretations -- that he has made "15 new friends" here in Davos. "We had dinner last night with about 15 leaders of industry -- none of whom I knew, but all of whom I have read about for years -- and it was truly an incredible group," Trump said. "And I think I have 15 new friends. So this has been really great what you have done in putting it together, the economic forum," he said. These 15 industry leaders from Europe -- whom Trump described as "very powerful businesspeople of the world" and asked them to introduce themselves one by one and say a few words at the dinner table, as per a White House release --- included Swiss pharma giant Novartis' incoming CEO Vas Narasimhan, Nokia CEO Rajeev Suri and Deloitte CEO Punit Renjen. Others were heads of Bayer, Anheuser-Busch InBev, Siemens, AB Volvo, SAP, Adidas, Statoil, Nestle, ABB and HSBC. At the dinner, Renjen said, "Mr President, thank you for having me. Punit Renjen from Deloitte. On behalf of 265,000 employees across the globe, 70,000 in the US, thank you again for having us". As per the White House release, Trump replied, "Great company. Thank you very much. Great job." Suri said Nokia runs the world's second largest telecom network and has 15,000 people in the US and one of its strongest R&D setups in the world is spread throughout the US. He further said, "We have half of the acquisition of Alcatel-Lucent. We own Nokia Bell Labs, which is in New Jersey. We do a lot of stuff in the West Coast, in Chicago, and throughout the country, really. So just under half of our people do research and development, and the rest are doing services and 4G networks and 5G. So I’m very happy and pleased with your infrastructure focus..." Narasimhan said Novartis is one of the largest health care companies in the world and its focus is on innovative medicines, generics, as well as eye care. He elaborated that Novartis has about 22,000 employees in the US across 21 sites and invests about USD 14 billion every year in the US, including USD 3.5 billion in research. Further, he described US as one of the key markets and also key places where it drives innovation. "And we are really pleased with the tax reform, but also very pleased with the great progress being made at FDA. We believe you have a great leadership team there and they are doing all the right things to accelerate innovation," he said. Trump replied, "Scott is great, and Alex is great. You know, Alex is just starting, and he's highly respected. So that's fantastic. Scott Gottlieb, as you know, is a star," referring to his FDA Commissioner and Health and Human Services Secretary, respectively. Narasimhan said further, "He (Scott) is a star. And I think his vision for tobacco and trying to improve — reduce the use of tobacco around the world is also very inspiring." After everyone's introduction, Trump said, "I want to thank everybody. Really, you have done incredible work, incredible jobs. These are some of the great companies of the world, many of the great companies of the world". PTI- ]]>PTC NEWSSun, 28 Jan 2018 23:15:05 +053017905051790505<![CDATA[WEF 2018: India eradicating graft through good governance says Piyush Goyal ]]>https://www.ptcnews.tv/wef-2018-india-eradicating-graft-good-governance-says-piyush-goyal Union minister Piyush Goyal today said the Indian government is eradicating corruption by fostering a culture of trust through good governance. Speaking here at a session on tackling the cost of corruption, Goyal said the Narendra Modi government has been steadfastly working on eradicating corruption in the last three and half years since coming to power. He said the government has been fostering a culture of trust through good governance. Panelists at the World Economic Forum (WEF) Annual Meeting session, which was held as part of the WEF's Partnering Against Corruption Initiative, discussed how can low levels of public trust and a higher incidence of corrupt behaviour be tackled while maintaining market confidence, political stability and economic growth. The issues discussed also included understanding the socio-political and economic landscape, creating a sense of collective purpose and leveraging technology as a tool. Goyal, who has addressed a number of sessions here at the WEF Annual Meeting and held several bilateral and roundtable meetings, today also met Tadashi Maeda, CEO and Executive Managing Director of Japan Bank for International Cooperation (JBIC) and Japan External Trade Organisation's Chairman and CEO Hiroyuki Ishige here. "At Davos, people have been appreciating the govt's bold moves for bringing India into a formal economy, eliminating corruption and black money-issues by which India had come to be identified through the years of Congress rules (sic)," the minister said in a tweet. In a series of tweets, Oil Minister Dharmendra Pradhan said he met with Microsoft President Brad Smith. "Visited Microsoft Technology Centre, Davos @wef;the VR glass with use of holograms can have great industrial, manufacturing, medical & R&D applications; Holograms & 3D printings are revolutionary technologies," he tweeted. These technologies need to be quickly adopted in India to remain ahead of the curve in Industrial Revolution 4.0, he added. PTI- ]]>PTC NEWSSun, 28 Jan 2018 23:14:58 +053017905071790507<![CDATA[Repair your leaking roof,don't be selfish:World leaders at WEF ]]>https://www.ptcnews.tv/repair-leaking-roofdont-selfishworld-leaders-wef The annual congregation of world leaders in this snow-laden Swiss town concluded Friday where Prime Minister Narendra Modi led the charge against protectionism and was joined by the likes of Angela Merkel and Emmanuel Macron while US President Donald Trump wrapped it up by asserting 'America First' does not mean 'America alone'. Over five days, the rich and powerful of the 'fractured' world as well as those from academia, art, culture and civil society, also flagged growing levels of gender and income inequality, as well as the financial and environmental risks. Davos regular and IMF chief Christine Lagarde said the world should celebrate economic recovery but also repair the leaking roofs while the sun shines. As this ski resort town saw unprecedented levels of snowfall this year, there were unusual delays in start of some programmes on the first two days besides ever increasing serpentine queues of vehicles on roads and of people outside the session halls. Against that backdrop, French President Emmanuel Macron remarked this much snow would raise doubts among sceptics of global warming and it was good that they were not here as yet -- an apparent quip at his US counterpart who has announced that America would be leaving the Paris climate pact. Macron's remarks came on Wednesday before Trump arrived at Davos. And today, Trump was welcomed on stage with a traditional Swiss brass band performance, another unusual event. In his typical style, Trump said the press always loved him as a businessman but turned "nasty" and "fake" when he joined politics and became president, eliciting quite audible hisses and boos from some people in the audience that included a large number of media persons. Replying to the growing demand for action against what is being considered as protectionist policies in the US, Trump declared he supports free trade but it must be fair and reciprocal. He also asserted that free trade would not be possible if some countries resort to abuse of systems, taking an indirect jibe at China. Modi -- the first Indian prime minister to come here in over two decades -- led the charge against protectionism and declared that India was an open economy and ready to host businesses from across the world and share the benefits for all with its age-old concept of 'Vasudhaiva Kutumbakam' -- the world is one family. Canadian Prime Minister Justin Trudeau and German Chancellor Angela Merkel also spoke out against protectionist tendencies at the summit. As the world leaders continued to voice their concerns over various ills facing the world, British Prime Minister Theresa May was somehow cynical that the big words spoken in Davos were often not matched with actions outside. Her comments led many here to quip that Davos was like Las Vegas of the economic world -- whatever happens in Davos, remains in Davos. The official programme began on Monday with Crystal Awards for cine star Shahrukh Khan, actor Cate Blanchett and music icon Elton John. At the ceremony, the Bollywood star had his own 'fan moment' when he asked Blanchett for a selfie. A concert by the Davos Festival Chamber Coir marked the end of the five-day summit. International Trade Union Confederation's Sharon Burrow, part of the all women co-chairs, in her closing remarks made sure to thank drivers and all the support staff for running the show successfully. She also said the theme of creating a shared future in a fractured world would not be achieved without inclusion at all levels. Chetna Sinha from India was also a co-chair for this year's summit. A large Indian delegation, including union ministers, attended the 48th annual meeting of the WEF. PTI- ]]>PTC NEWSSat, 27 Jan 2018 16:13:25 +053017904891790489<![CDATA[WEF 2018: Jerusalem has to be Israel's capital says Netanyahu ]]>https://www.ptcnews.tv/wef-2018-jerusalem-israels-capital-says-netanyahu

Israeli Prime Minister Benjamin Netanyahu asserted that Jerusalem has to be the country's capital under any deal as it has been so for over 3,000 years, even as he expressed readiness for a fresh peace attempt provided Palestine does not "run away" from negotiations.

Speaking here on Thursday at the World Economic Forum (WEF), he said Israel will not allow Iran to acquire nuclear weapons and maintained that the US deciding against continuing Iranian sanctions was not a negative development as it was a bad deal in the first place.

He also recalled his India visit while talking about why countries from across the world want to sign business deals with Israel.

He said the countries want Israel mostly for security and protection from Islamic terrorism due to its expertise in intelligence and security systems, as also for securing the future generations as Israel excels in technology and innovations.

Netanyahu said US President Donald Trump made history by recognising history when he recognised Jerusalem as the capital of Israel.

The Israeli prime minister maintained Jerusalem will remain the capital and seat of power under any peace agreement as it has been the capital for more than 3,000 years.

When asked whether he would want to attempt a fresh peace solution on the Palestine issue, Netanyahu said, "I certainly would want and I'm more than ready to do it" while adding that "if you want to have peace, you need to negotiate it".

"But the problem is whenever there is some attempt at a peace solution, Palestine runs away and they have done so in the past many times maybe because they are pampered by the international community," he said.

Asked about his visits to India and other countries recently and why everyone wants to sign economic and business deals with Israel, he said there are broadly two reasons.

"First, they want security and protection from Islamic terrorism and Israel has expertise in intelligence systems and in providing strong security systems. The second thing they want is to secure future. We are making innovative products with latest technologies which are produced in Israel," he said.

He recalled that during his India visit, he went to Gujarat where there is an Israeli innovation centre.

"Anything from chairs to cyber security, we want to excel at making them and that makes the world wanting to partner with us," he said. PTI

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PTC NEWSFri, 26 Jan 2018 10:53:07 +053017904301790430
<![CDATA[WEF 2018: Prabhu meets Swiss counterpart, global CEOs to narrate India story ]]>https://www.ptcnews.tv/wef-2018-prabhu-meets-swiss-counterpart-global-ceos-narrate-india-story Commerce and Industry Minister Suresh Prabhu invited global companies to come and invest in India as he chaired the Country Strategy Dialogue here on Wednesday at the World Economic Forum. He also met his Swiss counterpart J N Schneider Ammann and discussed the ongoing negotiations for a free trade agreement between India and the European Free Trade Association (EFTA). "A number of obstacles remain, but both sides want to make significant progress in 2018," Ammann said after the meeting. Prabhu tweeted that he had a great discussion with his Swiss counterpart and they both are fully committed to concluding the ongoing India-EFTA talks. "Considering the nature of our economies, we must accommodate more. Our being a service based economy, it is an important element of our narrative and future," Prabhu said. He also discussed the future of production with over 20 ministers and 30 global CEOs as a member of the Global Board of Stewards. Prabhu said he highlighted India's commitment to emerge as a manufacturing hub for industries of future. Besides, the minister held several meetings with business leaders on the sidelines of the WEF summit, including on the development of multi-modal logistics infrastructure in India with John Aurik, Global CEO of A T Kearny. He also discussed opportunities around online travel platforms for local tourism with the CEO of Booking.Com Gillian Tans besides deliberations about the road ahead for American Tower investments in India with Chairman James Taiclet. At the Country Strategy Dialogue on India, which was earlier to be chaired by Finance Minister Arun Jaitley who could not come to Davos, Prabhu talked about the government initiatives for fourth industrial revolution sectors. He also talked about the ongoing work around 7-8 industries of the future and developing district-level plans to spurt growth. The dialogue was attended by leading CEOs and Prabhu invited them to come and invest in India and be a part of its inevitable growth story. In his meeting with the Swiss minister, Prabhu said, "I expressed my deep desire to understand the cooperative structure of Switzerland which is one of the best in the world and take back the learning for my country". "Great alignment in our efforts to preserve global trade and multilateralism. I offered to jointly host the mini ministerial in March in India to showcase our commitment and resolve against protectionism," Prabhu tweeted later. "Switzerland and India share common values on democracy and multilateralism. It is pertinent for us both to get together to save WTO. We don't want to take sides but take everybody along," he said. PTI- ]]>PTC NEWSThu, 25 Jan 2018 08:49:16 +053017903101790310<![CDATA[WEF 2018: Globalisation going through major crisis says Macron ]]>https://www.ptcnews.tv/wef-2018-globalisation-going-major-crisis-says-macron French President Emmanuel Macron said globalisation is going through a major crisis as he joined several other world leaders in questioning the inward- looking national policies of some countries,on Wednesday. In what is being seen as coming together of various world leaders in criticising the so-called protectionist measures of the US administration ahead of President Donald Trump's Davos visit, many of them here at the World Economic Forum (WEF) have come out in open to flag the risks facing globalisation. Macron, who began his special address in French but quickly moved to English, said he has come here with a call for action since France has also been affected by the structural changes and its relationship with globalisation. "Let us not be naive as globalisation is going through a major crisis and this needs to be fought collectively with global solutions," he said. The French President said he has a special responsibility to keep France open to the rest of world, to stand with those who have been left behind by globalisation and to show its benefits to the middle and lower classes. Starting with a quip, he said the obvious paradox here is that we are talking about globalisation at a place which is cut off from the rest of the world by snow. Also, people may question global warming seeing so much snow and fortunately no global warming sceptic has been invited here, he said leaving the audience bursting with laughter. About his country, Macron said France is at the core of Europe. "Europe needs to redesign a ten-year strategy to make Europe an actual economic, social, green, scientific and political power," he noted. PTI - ]]>PTC NEWSThu, 25 Jan 2018 07:45:12 +053017903121790312<![CDATA[WEF 2018: Trudeau bats for gender equality, says sexual harassment unacceptable ]]>https://www.ptcnews.tv/wef-2018-trudeau-bats-gender-equality-says-sexual-harassment-unacceptable Canadian Prime Minister Justin Trudeau Tuesday strongly supported urgent steps for gender equality and termed sexual harassment as an unacceptable systemic problem. "We need to have a critical discussion on the power dynamics of gender," Trudeau said in a special address at the World Economic Forum (WEF) annual summit here. "Sexual harassment is a systemic problem and it is unacceptable. We need a fundamental shift in the way we operate," he said. The Canadian leader further said pay parity efforts are just the first step because pay equality does not mean equal opportunity, or equal sacrifice. He said employers must hire, promote and retain more women not because it is a nice thing to do, but because it is the smart thing to do. PTI - ]]>PTC NEWSThu, 25 Jan 2018 07:40:59 +053017902061790206<![CDATA[WEF 2018: India aims to become USD 5 trillion economy by 2025, says Modi ]]>https://www.ptcnews.tv/wef-2018-india-aims-become-usd-5-trillion-economy-2025-says-modi India is moving towards becoming a USD 5 trillion economy by 2025, Prime Minister Narendra Modi told the World Economic Forum (WEF) annual gathering on Tuesday. Pitching India as an attractive investment destination, he said those wanting wealth with wellness and peace with prosperity should come to the country. The first Indian prime minister in two decades to attend the WEF summit here, he delivered the speech at the opening plenary where he raised concerns about protectionist tendencies. He said the country is moving towards becoming a USD 5 trillion economy by 2025 and emphasised that the government is following the principle of reform, perform and transform. Currently, India's gross domestic product (GDP) is around USD 2.2 trillion. On Monday, the International Monetary Fund (IMF) projected the Indian economy to grow at 7.4 per cent in 2018 and become the fastest growing country among emerging economies. "We have made it so easier to invest in India, manufacture in India and work in India. We have decided to uproot licence and permit Raj. We are replacing red tape with red carpet," Modi said today. PTI - ]]>PTC NEWSThu, 25 Jan 2018 00:56:26 +053017902141790214<![CDATA[WEF 2018: When tweeting was done by birds and Amazon was a jungle; Modi recalls 1997 ]]>https://www.ptcnews.tv/wef-2018-tweeting-done-birds-amazon-jungle-modi-recalls-1997 Harry Potter was an unheard name, tweeting was done only by birds and Amazon referred to dense forests in 1997, Prime Minister Narendra Modi said today to stress upon the changes the world has seen in the past 20 years. Addressing the World Economic Forum (WEF) Annual Meeting, Modi said he is the first Indian Prime Minister to come here since H D Deve Gowda in 1997. The Indian economy has changed significantly since then and so has the rest of the world, he noted. Speaking mostly in Hindi, Modi thanked WEF and the Swiss government for the reception accorded to him. He also recalled that when Deve Gowda came here in 1997, the theme of the WEF summit was building a networked society. That theme now looks centuries-old as the world today is about big data and so many other new developments, the prime minister said. Modi said very few people in 1997 had heard of Osama bin Laden and even Harry Potter was an unheard name. "Also, chess players did not have any big fear of the computer while Google was not there in cyber space and Amazon of that time was about dense forests. Tweeting was done by birds at that time and not by humans," he said. Modi, however, said at that time also, Davos was ahead of its time and was known for WEF. It is ahead of the times today as well with the theme of 'Creating a shared future in a fractured world'. "The world is changing fast today and there are new and serious challenges related to peace and security and various other matters. "We believe in linking people, not bending them or breaking them. But the challenges the world faces are as numerous as they are daunting. "Mountains of data are getting created and there is a race to control those as the feeling is that the one who gets control of this data would rule the world," he said. PTI- ]]>PTC NEWSThu, 25 Jan 2018 00:56:08 +053017902161790216<![CDATA[PM Modi leaves for India after attending WEF summit ]]>https://www.ptcnews.tv/pm-modi-leaves-india-attending-wef-summit Prime Minister Narendra Modi left for India after a "historic and successful participation" at the World Economic Forum (WEF) annual summit. Modi, who became the first Indian prime minister to attend the summit in two decades, delivered the opening plenary speech on Tuesday and met many world leaders and chief executives. "After a historic and successful participation at @wef in #Davos, PM @narendramodi emplanes for flight back home at Zurich airport.#IndiaMeansBusiness," an external affairs ministry spokesperson said in a tweet. In his plenary address, Modi talked about serious challenges and grave concerns facing the world, including terrorism. The WEF has truly distinguished itself as a premier forum for deliberations on vital global issues, the prime minister said in a tweet. "This year's @wef theme, 'Creating a Shared Future in a Fractured World' is thought provoking. It compels us to discuss ways to create a better future for our coming generations," Modi said in another tweet. Among the world leaders, he met his Canadian counterpart Justin Trudeau, Queen Maxima of the Netherlands and Swiss President Alain Berset. More than 3,000 world leaders from business, politics, art, academia and civil society are attending the annual meet, where the Indian presence is the largest ever with over 130 participants. PTI- ]]>PTC NEWSThu, 25 Jan 2018 00:55:46 +053017902171790217<![CDATA[WEF 2018; We must educate investors to ask right questions: Nooyi ]]>https://www.ptcnews.tv/wef-2018-must-educate-investors-ask-right-questions-nooyi PepsiCo chief Indra Nooyi said the investors need to ask the right questions as the world leaders debated the way forward towards better capitalism here at the World Economic Forum. The India born chief of the global behemoth also said working in a transformative way will always lead to criticism. "We must educate investors to ask the right questions," she said. "As CEO you must start with an external perception of the world and look at the mega-trends in order to build a strategy that will stand," Nooyi said. She also said it is the workers who drive the business. Nooyi was speaking here on Tuesday, at a session on better capitalism. PTI - ]]>PTC NEWSThu, 25 Jan 2018 00:54:37 +053017902081790208<![CDATA[WEF 2018; Lack of fund access for women a big fracture: Chetna Sinha ]]>https://www.ptcnews.tv/wef-2018-lack-fund-access-women-big-fracture-chetna-sinha Social entrepreneur Chetna Sinha, part of the all women co-chairs of the World Economic Forum annual meeting at davos, Tuesday said the greatest fracture facing India is women's inequality. Sinha said she represents the voices of the fractured world. Echoing IMF chief Christine Lagarde, who is also a co- chair and had expressed similar concerns earlier in the day, Sinha said young girls in Indian villages want to go for higher education but there are not enough opportunities for them. "At the same time, India is a country where (there are) so many women and men but majority of women are doing business on roads in cities and villages, selling things in haats, but they do not have access to funds. "They depend a lot on money lenders despite the fact that they are using banks for saving money but they do not get the access for funding and on the other hand money lenders provide them funds at doorstep but at a very high cost," Sinha said. During a session, all the co-chairs including Lagarde and Norwegian Prime Minister Erna Solberg discussed various cracks and fractures facing the world today and how to fix them. Outlining the fractures they see in the world, the panelists named inequality in access to education and opportunities, "short-termism" and lack of confidence in humanity itself and emphasised the need to ensure that the workforce is prepared for advances in technology. PTI - ]]>PTC NEWSThu, 25 Jan 2018 00:54:19 +053017902091790209<![CDATA[WEF 2018: India a responsible nuclear state, believes in 'no first use' says Akbar ]]>https://www.ptcnews.tv/wef-2018-india-responsible-nuclear-state-believes-no-first-use-akbar Union minister M J Akbar today asserted that India is a responsible nuclear state and believes in 'no first use' of such weapons, even as he questioned why no action is being taken at the global level against proliferation. Speaking at a session on nuclear threats to international security here at the World Economic Forum (WEF), he said many countries see nuclear weapons as the ultimate deterrence and see "missiles as a message". The minister of state for external affairs said just a few days ago India joined the Australia Group and is party to other such pacts. "The world recognizes that India is a very responsible nuclear state. Also, we are like that not because someone asked us to do so, but because we want to be like that," Akbar said. He said India's approach is clear, it wants a nuclear regime that is non-discriminatory. "We have got support from so many countries on our approach and we hope that the world will work together on reducing if not eliminating the nuclear threats," he said while adding that he is hopeful as everyone takes the threat of destruction seriously. Asked about both India and Pakistan having nuclear weapons, he said, "We can only speak from our position. I can't speak on behalf of another country and we have these weapons as a form of a deterrence and we believe in no first use." "We would want to get an agreement at the global level on 'no first use'. If ideals can't be achieved at least we can work towards good. It's easy to hear the noise but a little less easy to hear the silence," he said. Akbar said India is very proud that its objective is peace. We want peace but peace does not necessarily come from pacifism, he added. Akbar said people have gotten away with proliferation and strong actions are needed against that. Speaking in the same session, Beatrice Fihn of the International Campaign to Abolish Nuclear Weapons said the only solution is to abolish and eliminate nuclear weapons and it makes no sense for responsible countries to have such weapons that always present a major risk. She said these weapons create, rather than resolve, crises. Akbar, however, said demands of security cannot be simply wished away and wondered why is it that no country is taking a unilateral decision against nuclear weapons. "We are in Europe which has nuclear states and why don't they lead the way? Can they seek public opinion on disarmament? At our level, we work very strongly through a multilateral framework which is the only way forward. "We urge other nations to take steps and we hope this diligence with which we work towards a safer world will yield a result," he said. Akbar asserted that we need to question why no steps are being taken against proliferation. The panel discussed the increasing number of nuclear states and threat of "first use" of nuclear weapons as dual global risks on the rise. The panel members discussed what political, diplomatic and military options can mitigate or manage such existential threats. They also sought to understand why nuclear threats are back on the table. Other areas of discussion included re-evaluating the risk/reward balance in nuclear deterrence and how to keep the human factor in focus. PTI- ]]>Nimrat KaurThu, 25 Jan 2018 00:53:46 +053017902631790263