Business

The World Economic Forum has wrapped up after a week of intense discussions, networking and consensus-building in the snowy Swiss mountain resort of Davos. Among some of the smaller nations taking part was Mongolia, which is trying to use the event to promote itself on the global stage as it tries to diversify its economy and bolster relations outside of its traditional allies, Russia and China.

The world is finding an uneasy equilibrium with a more benign economic backdrop overshadowed by a panoply of geopolitical risks, according to the final Davos panel of 2024.

This week, we bring you a special edition of People & Profit from the snowy Swiss resort of Davos as it hosts the annual World Economic Forum.

Artificial intelligence is a major theme of this year's event, cryptocurrency is also drawing renewed attention as the sector seeks increased legitimacy on mainstream financial markets. We hear from the CEO of the Crypto Council for Innovation, Sheila Warren.

The world is entering the "Voldemort of years", according to political risk consultancy Eurasia Group. In its annual report released this week, "Top Risks for 2024," it says the US presidential election will pose the greatest political risk to the world in 2024, no matter who wins.

A day after hosting a rare prime-time press conference, France's President Emmanuel Macron heads to Davos this Wednesday, accompanied by some 20 business leaders. It's the second time he will attend the World Economic Forum in person since becoming president. A meeting with around 60 bosses of global firms is also on the agenda. Meanwhile, sluggish global growth continues to be at the top of attendees' minds.

British energy major Shell has said it will sell its problematic onshore operations in Nigeria to a consortium of mostly local companies as it exits part of its business that has operated since the 1930s.

Onion prices in some parts of the world are eye-wateringly high. India, one of the world's biggest producers, has limited exports, sparking smuggling and price hikes abroad.

Ryanair chief Michael O'Leary has repeated his support for Boeing's 737 Max jets. He told DW that a delay in Max 9 inspections could have an upside for his firm — faster delivery of other Boeing aircraft.

An unauthorized message posted to the US Securities and Exchange Commission's official X account briefly sent bitcoin prices soaring, forcing the market regulator to deny it had approved a new cryptocurrency product.

US crude climbed 4.2% to $75 a barrel in recent trading. Brent crude, the world benchmark, jumped 4% and crossed over the $80-a-barrel level. This comes after US-led strikes on multiple Houthi targets in Yemen in response to repeated attacks on commercial shipping in the Red Sea.

US electric car manufacturer Tesla will temporarily stop production at a factory outside Berlin. Attacks on ships in the Red Sea mean the factory cannot get the parts it needs to maintain operations.