Trump to Take Virtual Center Stage in Davos

Davos will finally hear from the man himself during a live video appearance, with CEOs given the chance to lob questions at Donald Trump. FABRICE COFFRINI / AFP
Davos will finally hear from the man himself during a live video appearance, with CEOs given the chance to lob questions at Donald Trump. FABRICE COFFRINI / AFP
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Trump to Take Virtual Center Stage in Davos

Davos will finally hear from the man himself during a live video appearance, with CEOs given the chance to lob questions at Donald Trump. FABRICE COFFRINI / AFP
Davos will finally hear from the man himself during a live video appearance, with CEOs given the chance to lob questions at Donald Trump. FABRICE COFFRINI / AFP

Donald Trump on Thursday will star in an eagerly-anticipated online appearance at the World Economic Forum in Davos, addressing global elites whose annual gabfest has been consumed by the US president's days-old second term.
Trump's name has come up in almost every conversation in the Swiss Alpine village this week: in formal panel discussions, in shuttles ferrying people up and down the mountain, and in exclusive parties along the promenade.
"Trump is a provocateur. He enjoys being a provocateur, and many people at Davos are bored in their life. He's not boring. So, you know, it's kind of exciting," Harvard scholar and WEF regular Graham Allison told AFP.
Davos will finally hear from the man himself during a live video appearance, with CEOs given the chance to lob questions at Trump, himself a businessman who made his fortune in real estate.
He already gave Davos a taste of what is to come since his inauguration on Monday, which coincided with the WEF's first day: tariff threats against Mexico and Canada, the US withdrawal from the Paris climate pact, a threat to take the Panama Canal, just to name a few.
His plans to cut taxes, reduce the size of the federal government and deregulate industries will find a sympathetic ear amongst many businesses.
"Trump has been running America like America Inc. He's been very focused on getting the best advantage for the US in any way that he can," Julie Teigland, a managing partner at EY consulting firm, told AFP.
"He knows that he needs trade partners to do that. He does. And so I expect him to give messages along these lines," she said.
'No winners'
His trade partners had a chance to react in Davos earlier this week.
Without invoking Trump's name, Chinese Vice Premier Ding Xuexiang warned that "there are no winners in a trade war".
German Chancellor Olaf Scholz vowed to defend free trade but he took a conciliatory tone, saying that he had good earlier discussions with Trump.
European Union chief Ursula von der Leyen said that Brussels was ready to negotiate with Trump, but she also underscored the bloc's diverging policy with him on climate, saying it would stick by the Paris accord.
Panama's President Jose Raul Mulino dismissed Trump's claims to the Panama Canal, which was built by the United States but handed to the Central American country in 1999 under two-decade old treaties.
Mulino said he was "not worried" and that Panama would not be "distracted by this type of statement".
'Celebrate Trump'
The Republican president also has fans in Davos.
One of his biggest cheerleaders on the world stage, Argentina's libertarian President Javier Milei, will make a speech to the WEF on Thursday, hours before Trump.
"The world should celebrate the arrival of President Trump," Milei said at a Bloomberg event on Wednesday.
"The golden era he proposes for the United States will shine a light for the whole world as it will spell the end of the woke ideology, which is doing so much harm to the planet," Milei said.
One of his backers in the business world, Marc Benioff, the chief executive of US tech firm Salesfoce, was also enthusiastic at the same Bloomberg chat.
"I'm very positive," he said. "I'm just looking forward to seeing what's going to happen. And it's a new day and, it's an exciting moment."



Türkiye Cenbank Cuts Rates by 250 Points to 45% as Expected

14 January 2025, Türkiye, Istanbul: A man seen rowing his boat along the Moda beach. Photo: Onur Dogman/SOPA Images via ZUMA Press Wire/dpa
14 January 2025, Türkiye, Istanbul: A man seen rowing his boat along the Moda beach. Photo: Onur Dogman/SOPA Images via ZUMA Press Wire/dpa
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Türkiye Cenbank Cuts Rates by 250 Points to 45% as Expected

14 January 2025, Türkiye, Istanbul: A man seen rowing his boat along the Moda beach. Photo: Onur Dogman/SOPA Images via ZUMA Press Wire/dpa
14 January 2025, Türkiye, Istanbul: A man seen rowing his boat along the Moda beach. Photo: Onur Dogman/SOPA Images via ZUMA Press Wire/dpa

Türkiye's central bank cut its key interest rate by 250 basis points to 45% as expected on Thursday, carrying on an easing cycle it launched last month alongside a decline in annual inflation that is expected to continue.

The central bank indicated it would continue to ease policy in the months ahead, noting that it anticipated a rise in trend inflation in January, when economists expect a higher minimum wage to lift the monthly price readings, Reuters reported.
In a slight change to its guidance, the bank said it will maintain a tight stance "until price stability is achieved via a sustained decline in inflation."
Last month, it said it would be maintained until "a significant and sustained decline in the underlying trend of monthly inflation is observed and inflation expectations converge to the projected forecast range."
In a Reuters poll, all 13 respondents forecast a cut to 45% from 47.5% in the one-week repo rate. They expect it to hit 30% by year end, according to the poll median.
In December, the central bank cut rates for the first time after 18-month tightening effort that reversed years of unorthodox economic policies and easy money championed by President Recep Tayyip Erdogan, who has since supported the steps.
To tackle inflation that has soared for years, the bank had raised its policy rate by 4,150 basis points in total since mid-2023 and kept it at 50% for eight months before beginning easing.
Annual inflation dipped to 44.38% last month in what the central bank believes is a sustained fall toward a 5% target over a few more years. It topped 75% in May last year.
"While inflation expectations and pricing behavior tend to improve, they continue to pose risks to the disinflation process," the bank's policy committee said after its rate decision.
A 30% administered rise in the minimum wage for 2025 was lower than workers had requested, though it is expected to boost monthly inflation readings this month and next, economists say.
The expected January inflation rise "is mainly driven by services items with time-dependent pricing and backward indexation," the bank said.
The central bank has eight monetary policy meetings set for this year, down from 12 last year.