Etihad Airways CEO Antonoaldo Neves tells CNBC's Dan Murphy that the airline saved more than $150 million in contract renegotiation and managed to block the effect of inflation in the cost lead sheet last year.

The World Economic Forum has kicked off in Davos, bringing together nearly 3,000 global leaders including some 60 heads of state and government, corporate bosses and prominent figures in public institutions. This year's theme is "Rebuilding Trust" as wars, climate change and a slowing economy continue to erode global cooperation.

This year’s theme, “Navigating the crises – From 300 to 3000: How to deliver the next generation of African champions”, reflects on commitment to promote and help shape public policies that are conducive to a new and emerging generation of African companies with billion-dollar turnovers. Organisers of the event said the growth in number and size of African champions is crucial to minimising the impact of foreign crises on the continent’s markets.

The U.S. should require companies to be licensed by the government if they want to develop powerful artificial intelligence systems, the head of one the country's top AI companies said at a Senate committee hearing Tuesday.

The South-African born billionaire said his replacement at the helm of the social media giant will start the job in around six weeks.