Davos 2023: Latest updates from the World Economic Forum

Davos 2023: Latest updates from the World Economic Forum

The world’s leaders, economists, billionaires are now gathered in Davos, Switzerland for The World Economic Forum annual meeting on global politics, economics and social issues.

The theme of the 53rd annual meeting is “Cooperation in a Fragmented World”.

Zawya has compiled all the updates from Davos.

DP World forecasts further freight rate fall as demand slows

DP World expects freight rates to drop by a further 15% to 20% in 2023, with the worst still to come as demand slows, the Dubai-based global logistics company’s deputy chief executive and chief financial officer Yuvraj Narayan told Reuters.

Investcorp targets Indonesia to expand Southeast Asia footprint

Bahrain-based Investcorp is working on multiple initiatives in Indonesia, including one in partnership with the nation’s sovereign wealth fund as it seeks to expand its footprint in Southeast Asia, the firm’s co-chief executive officer Hazem Ben-Gacem.

Saudi open to talks on trade in currencies other than dollar

Saudi Arabia's Finance Minister Mohammed Al-Jadaan said that the kingdom is open to discussions about trade in currencies other than the US dollar, Bloomberg TV reported.

“There are no issues with discussing how we settle our trade arrangements, whether it is in the US dollar, whether it is the euro, whether it is the Saudi riyal,” he stated.

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