Davos

Liberalisation of the global economy should continue: Kamal Nath

Kamal NathDavos, Jan. 30 : Concerned by the worldwide economic slowdown, Union Commerce and Industry Minister Kamal Nath has urged the international community to join hands for more efforts to liberalise the global economy in order to stimulate growth, save jobs and enhance living standards.

Addressing a Session on "Enabling Trade: Threats & Opportunities", in Davos on Friday, Nath said that comprehensive multilateral, regional and bilateral trade agreements have been critical to spurring such liberalization in the past and should continue to be pursued actively.

Brown, Ban call for international efforts to boost economy

Ban Ki-MoonDavos, Switzerland - Coordinated international efforts will be needed to lead the world out of the current economic crisis, the United Nation's Ban Ki-Moon and British premier Gordon Brown said Friday, urging countries to also maintain aid levels to the poor.

Brown said countries needed to "come together as one" and take steps like those he introduced in Britain, including capital injections and the introduction of stimulus packages.

Turkey: Syria, Israel direct talks foiled by Gaza offensive

TurkeyDavos, Switzerland  - Israel and Syria were on the path to direct talks but the progress was set back by the three-week offensive in the Gaza Strip, Turkish officials said Thursday while attending the World Economic Forum.

Turkey had hosted four rounds of indirect talks between the two nations, who are still at a state of war since 1948. Damascus called off after the discussions after the Israeli offensive began.

"We had problems with only a few words," said Turkish Prime Minister Recep Tayyip Erdogan, referring to negotiations which had gone on when Israeli Prime Minister Ehud Olmert was in Ankara just days before the offensive began.

Oil prices need to rise to allow for investment, energy chiefs say

Oil prices need to rise to allow for investment, energy chiefs say Davos, Switzerland - The drop in the price of oil is a result of the global economic downturn, energy chiefs said Thursday, but the fall has been too great and the current amount will not leave producing countries with enough capital for investment.

"The price is low because demand has fallen, because economic growth in most part of the world has stopped," said Tony Hayward, the head of BP.

Leaders reflect on ethical capitalism with economic news gloomy

World EconomyDavos, Switzerland - With the headlines screaming the glo

Swiss police order Tibetan flag removed from Davos shop

Dalai Lama named freeman of ParisDavos, Switzerland - Swiss police forced a Davos shop owner to remove a flag of Tibet from the window of her store, but she managed to keep writings of the Dalai Lama and Tibetan prayer books in the window, the shopkeeper told Swiss radio DRS Thursday.

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