The World Economic Forum's annual event will take place in Singapore in May next year, shifting from its regular home of Davos-Klosters in Switzerland. Reuters
The World Economic Forum's annual event will take place in Singapore in May next year, shifting from its regular home of Davos-Klosters in Switzerland. Reuters
The World Economic Forum's annual event will take place in Singapore in May next year, shifting from its regular home of Davos-Klosters in Switzerland. Reuters
The World Economic Forum's annual event will take place in Singapore in May next year, shifting from its regular home of Davos-Klosters in Switzerland. Reuters

World Economic Forum's annual meeting shifts to Singapore next year


Michael Fahy
  • English
  • Arabic

The World Economic Forum will convene a Special Annual Meeting 2021 in Singapore from 13-16 May.

The event will return to its usual home in the Swiss mountain resort of Davos-Klosters in 2022, the organisation said in a statement on Monday. A Davos Agenda event will take place online next year between 25-29 January.

The in-person meeting in Singapore will focus on addressing some of the pressing challenges presented to the global economy as a result of Covid-19.

“A global leadership summit is of crucial importance to address how we can recover together,” said Klaus Schwab, founder and executive chairman of the World Economic Forum.

“The Special Annual Meeting 2021 will be a place for leaders from business, government and civil society to meet in person for the first time since the start of the global pandemic. Public-private cooperation is needed more than ever to rebuild trust and address the fault lines that emerged in 2020.”

The event is usually held in Davos in late January but has been postponed as a result of the pandemic, which has infected more than 67.5 million people and caused more than 1.5 million deaths globally, according to Worldometer.

The change in location reflects the forum’s priority of safeguarding the health and safety of participants and the host community, the Forum said.

Ahead of the Special Annual Meeting 2021, the Forum will also host a Global Technology Governance Summit in Tokyo from 6-7 April next year, which will discuss the responsible design and deployment of emerging technologies through public-private cooperation.

THE LIGHT

Director: Tom Tykwer

Starring: Tala Al Deen, Nicolette Krebitz, Lars Eidinger

Rating: 3/5

Benefits of first-time home buyers' scheme
  • Priority access to new homes from participating developers
  • Discounts on sales price of off-plan units
  • Flexible payment plans from developers
  • Mortgages with better interest rates, faster approval times and reduced fees
  • DLD registration fee can be paid through banks or credit cards at zero interest rates
The Penguin

Starring: Colin Farrell, Cristin Milioti, Rhenzy Feliz

Creator: Lauren LeFranc

Rating: 4/5

UAE currency: the story behind the money in your pockets
if you go

The flights

Etihad, Emirates and Singapore Airlines fly direct from the UAE to Singapore from Dh2,265 return including taxes. The flight takes about 7 hours.

The hotel

Rooms at the M Social Singapore cost from SG $179 (Dh488) per night including taxes.

The tour

Makan Makan Walking group tours costs from SG $90 (Dh245) per person for about three hours. Tailor-made tours can be arranged. For details go to www.woknstroll.com.sg

MATCH INFO

Real Madrid 2 (Benzema 13', Kroos 28')
Barcelona 1 (Mingueza 60')

Red card: Casemiro (Real Madrid)

RESULTS

2pm: Handicap (PA) Dh 40,000 (Dirt) 1,200m
Winner: AF Senad, Nathan Crosse (jockey), Kareem Ramadan (trainer)

2.30pm: Maiden (PA) Dh 40,000 (D) 1,000m
Winner: Ashjaan, Fabrice Veron, Eric Lemartinel.

3pm: Maiden (PA) Dh 40,000 (D) 1,700m
Winner: Amirah, Conner Beasley, Ali Rashid Al Raihe.

3.30pm: Handicap (PA) Dh 40,000 (D) 1,700m
Winner: Jap Al Yaasoob, Szczepan Mazur, Irfan Ellahi.

4pm: Sheikh Mansour bin Zayed Al Nahyan Cup Prestige Handicap (PA) Dh 100,000 (D) 1,200m
Winner: Jawaal, Fernando Jara, Majed Al Jahouri.

4.30pm: Handicap (TB) Dh 40,000 (D) 1,200m
Winner: Manhunter, Ryan Curatolo, Mujeeb Rahman.

THE%20HOLDOVERS
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UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

MATCH INFO

Uefa Champions League semi-finals, first leg
Liverpool v Roma

When: April 24, 10.45pm kick-off (UAE)
Where: Anfield, Liverpool
Live: BeIN Sports HD
Second leg: May 2, Stadio Olimpico, Rome

Profile of MoneyFellows

Founder: Ahmed Wadi

Launched: 2016

Employees: 76

Financing stage: Series A ($4 million)

Investors: Partech, Sawari Ventures, 500 Startups, Dubai Angel Investors, Phoenician Fund

UAE currency: the story behind the money in your pockets
Company%20profile
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COMPANY%20PROFILE
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IF YOU GO

The flights

FlyDubai flies direct from Dubai to Skopje in five hours from Dh1,314 return including taxes. Hourly buses from Skopje to Ohrid take three hours.

The tours

English-speaking guided tours of Ohrid town and the surrounding area are organised by Cultura 365; these cost €90 (Dh386) for a one-day trip including driver and guide and €100 a day (Dh429) for two people. 

The hotels

Villa St Sofija in the old town of Ohrid, twin room from $54 (Dh198) a night.

St Naum Monastery, on the lake 30km south of Ohrid town, has updated its pilgrims' quarters into a modern 3-star hotel, with rooms overlooking the monastery courtyard and lake. Double room from $60 (Dh 220) a night.

 

Timeline

2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence 

December 2024

Petrofac enters into comprehensive restructuring to strengthen the financial position of the group

May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

November 2025

180 Petrofac employees laid off in the UAE