Thursday, January 28, 2010

Thanks to BBC - Day 1 in DAVOS!!!

Thanks to BBC, they have made my work much simpler. Though I couldn’t go and watch it live, I could get the live comments and updating from BBC. As we know the main theme for this year is shaping the post-crisis world. People were flowing into the snow mountain village of Davos, to attend the 40th World economic summit today. On the first day they are eager to what economic forecast would be presented, what are the bases to move forward amidst present economic downturn recovery.

By 0900hrs, I got an update from BBC. It was from the founder of the World Economic Forum, Klaus Schwab. Mr. Schwab explained that, in this mass crash we have to help those have been affected and we have to find out the ways and rules so that it doesn’t happen in future. By 1015 an interesting update from BBC got everyone’s attention. The update says” A new survey conducted by PricewaterhouseCoopers suggests that business leaders are suffering a "crisis of confidence" and believe global economic recovery will be sluggish over the next three years. Just 21% of the 1,120 chief executives polled said they were confident about growing revenues over the next year.”


“We need to ensure the poorest in the planet - who will be hardest hit by the financial crisis - are not forgotten.” Former UN sec. general Kofi Annan’s comments are vital at this point. This means in other words, the summit should not jus remain as “Rich man’s club”. This show, how important for us to follow the discussions and arguments in Davos. A senior executive at the US recruitment firm, Manpower, told the BBC that there are four million unfilled jobs across Europe. "The real challenge is finding the right skill, at the right time, at the right place to fill those jobs.” Similar situations what the company HRs in India explain about employable candidate. According to a private equity firm, the Blackstone in US almost 40% of worlds’ wealth was destroyed in past 5 years. This condition pushes the world to a massive imbalance.

Amidst this heated and chaotic situation, Indian automobile major Rahul Bajaj, gave some positive signs when it matters to India. India avoided this economic crunch marginally as there was a growing demand internally.

To get more on end of day notes, please follow the link;
http://news.bbc.co.uk/2/hi/business/davos/7863684.stm

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