Moscow, India, others rally behind Afghanistan amidst Bagram airbase tussle
The 7th Moscow Format Consultations on Afghanistan has concluded in Russia with participants issuing a joint statement heavily hinting at a joint oppo...
Klaus Schwab, founder of the World Economic Forum, whose annual gathering of business and political leaders in the Swiss mountain resort of Davos became a symbol of globalisation, has resigned as chair of its trustees.
The Geneva-based WEF made the announcement on Monday after revealing earlier this month that the 87-year-old Schwab, who for decades has been the face of the Davos get-together, would be stepping down, without giving a firm timeline.
"Following my recent announcement, and as I enter my 88th year, I have decided to step down from the position of Chair and as a member of the Board of Trustees, with immediate effect," Schwab said in a statement released by the WEF.
The forum did not say why he was quitting.
The WEF board said in the statement it had accepted Schwab's resignation at an extraordinary meeting on April 20, with Vice Chairman Peter Brabeck-Letmathe serving as interim chairman while the search for a new chair began.
The German-born Schwab established the WEF in 1971 with the aim of creating a forum for policymakers and top corporate executives to tackle major global issues.
The village of Davos gradually became a fixture on the international calendar in January when political leaders, CEOs and celebrities got together in discreet, neutral Switzerland to discuss the agenda for the coming year.
CRITICISM
Widely regarded as a cheerleader for globalisation, the WEF's Davos gathering has in recent years drawn criticism from opponents on both left and right as an elitist talking shop detached from lives of ordinary people.
Headquartered above Lake Geneva at the other end of Switzerland from Davos, the WEF has also had to cope with negative reports about its internal culture.
The Wall Street Journal last year said the WEF's board was working with a law firm to investigate its workplace culture, after the newspaper reported allegations of harassment and discrimination at the forum. The WEF denied the allegations.
Shaken by the 2007-2009 global financial crisis, the WEF has also been buffeted by geopolitical tensions since the 2022 Russian invasion of Ukraine and more protectionist U.S. trade policies. Some analysts see it as an institution in decline.
Schwab anticipated globalisation would come under fire long before Donald Trump first won the U.S. presidency and Britain voted to leave the European Union in 2016, events which analysts attributed to discontent with the prevailing economic order.
"A mounting backlash against (globalisation's) effects, especially in the industrial democracies, is threatening a very disruptive impact on economic activity and social stability in many countries," Schwab and his colleague Claude Smadja jointly wrote in an opinion piece in 1996.
"The mood in these democracies is one of helplessness and anxiety, which helps explain the rise of a new brand of populist politicians."
Video from the USGS (United States Geological Survey) showed on Friday (19 September) the Kilauea volcano in Hawaii erupting and spewing lava.
At least eight people have died and more than 90 others were injured following a catastrophic gas tanker explosion on a major highway in Mexico City’s Iztapalapa district on Wednesday, authorities confirmed.
At least 69 people have died and almost 150 injured following a powerful 6.9-magnitude earthquake off the coast of Cebu City in the central Visayas region of the Philippines, officials said, making it one of the country’s deadliest disasters this year.
A powerful 7.4-magnitude earthquake struck off Russia’s Kamchatka Peninsula on 13 September with no tsunami threat, coming just weeks after the region endured a devastating 8.8-magnitude quake — the strongest since 1952.
Authorities in California have identified the dismembered body discovered in a Tesla registered to singer D4vd as 15-year-old Celeste Rivas Hernandez, who had been missing from Lake Elsinore since April 2024.
Escalating gang violence in Haiti has displaced 680,000 children, nearly twice as many as last year, as armed groups seize more territory and basic services collapse, UNICEF warned on Wednesday.
A 29-year-old man has been arrested in connection with a devastating wildfire that killed 12 people and destroyed thousands of homes in Los Angeles earlier this year.
The 7th Moscow Format Consultations on Afghanistan has concluded in Russia with participants issuing a joint statement heavily hinting at a joint opposition to any foreign military infrastructure in Afghanistan.
Former FBI Director James Comey pleaded not guilty on Wednesday to criminal charges, and his lawyer said he would file a barrage of legal challenges to the first prosecution by the Justice Department against one of President Donald Trump's political enemies.
U.S. Secretary of State Marco Rubio is expected to attend a ministerial meeting in Paris on Thursday with representatives of Europe, the Arab world and other nations to discuss Gaza's post-conflict transition, according to three diplomatic sources.
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