Trump to Face Mixed Welcome at Elite Davos Gathering

US President Donald Trump pumps his fist as he boards Air Force One upon departure from Joint Base Andrews in Maryland, U.S., January 12, 2018. REUTERS/Kevin Lamarque
US President Donald Trump pumps his fist as he boards Air Force One upon departure from Joint Base Andrews in Maryland, U.S., January 12, 2018. REUTERS/Kevin Lamarque
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Trump to Face Mixed Welcome at Elite Davos Gathering

US President Donald Trump pumps his fist as he boards Air Force One upon departure from Joint Base Andrews in Maryland, U.S., January 12, 2018. REUTERS/Kevin Lamarque
US President Donald Trump pumps his fist as he boards Air Force One upon departure from Joint Base Andrews in Maryland, U.S., January 12, 2018. REUTERS/Kevin Lamarque

In Davos this week, participants can experience "a day in the life of a refugee." Or hear about ways to uphold the Paris climate accord and promote free trade. Or rub elbows with any number of leaders until US President Donald Trump enters.

The World Economic Forum in Davos, Switzerland, is meant — pretentiously perhaps — to be a place for the world's decision-makers to put their power to good use. The theme this year is "Creating a Shared Future in Fractured World," an ambition not likely to turn up on the US president's Twitter feed.

Instead, Trump will bring his zero-sum message of "America First," and will speak last among the parade of world leaders — from places like India, France and Canada — who are gathering from Tuesday to Friday in the Swiss snows.

As with most things Trump, there are stark contrasts between how attendees view his visit. Some are happy and hope for dialogue. Others unabashedly say they wish he would stay away and accuse him of a lack of compassion and vision for the world that are out of place in Davos.

"I find it quite sad he's coming to the WEF, but I imagine nothing can be done about it," said Buddhist monk Matthieu Ricard, a longtime disciple of the Dalai Lama.

While his trip — which was still on schedule despite the US government shutdown — may seem incongruous, unwelcome or unexpected, he will be sticking to one key aspect of the WEF's original ambition in starting the annual forum in Davos 47 years ago: Business. An array of Cabinet officials is also due to tag along, suggesting the US is preparing a big economic and diplomatic push.

Some have suggested it's ironic that Trump, a self-styled populist despite his penchant for the penthouse, is attending the elite Alpine event. Others speculated he could have felt a need to regain the Davos spotlight for the United States a year after Chinese President Xi Jinping stole the show by casting China as a champion of free trade and stability — and many companies responded by turning greater attention toward it.

An administration official said Trump is expected to tout the booming US economy and measures like his recent tax overhaul, while again criticizing trade practices that he sees as unfair toward the US. The official, who spoke only on condition of anonymity to discuss internal plans, said Trump made the decision to go because he thinks he has a positive economic message.

With Wall Street surging, Trump has some cheerleaders on the economic front — even if they hope he'll be more accommodating.

"I think it's really good that he's going," said Bill Thomas, chairman of business services KPMG International. "The American economy is dependent on global engagement, and I think he's in Davos because he knows that.''

Some wonder whether Trump can win over the Davos set, or whether they might succeed in turning his ear — and give him a chance to reboot his administration's image abroad.

"Corporate America, in terms of economic policies, is very pleased with the way the administration is going," said Andy Baldwin, a regional managing partner for financial services firm EY. But he acknowledged that Trump controversies elsewhere had "overshadowed some of the policies."

Outside of business, though — whether among human rights advocates, environmentalists, peaceniks or free-trade proponents — Trump is shunned.

"Despite its formal name, Davos is about more than economics," said Kenneth Roth, executive director of Human Rights Watch, in an e-mail. "So while Trump undoubtedly intends to trumpet US economic progress, many Davos participants will question his racist, misogynistic, and xenophobic rhetoric and policies."

"Unless he plans an unexpected apology and reversal, he will face a far colder reception than he probably anticipates," he said.

Parts of the jet-set have it in for Trump. Elton John, whose song title "Rocket Man" Trump used to deride North Korean leader Kim Jong Un, will be in Davos, as will actress Cate Blanchett, who shaped chewing gum into a phallus on late-night TV to mock Trump just days after he took office. So will several African leaders whose countries Trump allegedly dismissed with a vulgarity earlier this month.

Small protests have started, and others are expected in Zurich on Tuesday and possibly in Davos on Thursday. A Swiss anti-Trump petition has garnered more than 16,000 supporters online, calling on him to stay away. Authorities are boosting security for only the second visit by a serving US president to Davos, after Bill Clinton in 2000.

Some might even see a snub in French President Emmanuel Macron's decision to not stick around to see Trump even though the White House initially had announced a face-to-face meeting in Davos.

In his speech Wednesday, Macron is expected to offer a "lucid" diagnosis about globalization, and raise environmental concerns, an adviser said. Macron's speech could shape up as a counter narrative, and though he wasn't expected to mention Trump by name "you can read between the lines," the adviser said, on condition of anonymity because he was not authorized to speak publicly about the matter.

"It's good to have the president here, if the snow conditions and the situation in Washington allow us," WEF founder Klaus Schwab told The Associated Press on Monday, alluding to the US government shutdown that could spoil Trump's plans to attend. The White House has said it's monitoring the situation day to day, and Schwab said: "At the moment we cannot make a comment on that [Trump's attendance]."

Trump has, in a way, already been on hand in Davos. During last year's event, which coincided with his inauguration, many attendees gawked at TV sets as Trump declared "America First" from the Capitol steps.

When he arrives this year, discretion may be the order of the day: Zurich airport, the closest big hub, has announced a lockdown on press access for the arrival of Air Force One.

Swiss police are deploying more than 4,300 troops in the region for security, which officials say is on a par with previous years. But this being only the second visit by a serving US president, after Bill Clinton in 2000, has also meant enhanced security measures.

The Guardian Sport



Iran's Central Bank Chief Resigns

A man walks past a sign at a currency exchange bureau as the value of the Iranian rial drops, in Tehran, Iran, December 20, 2025. (Via Reuters)
A man walks past a sign at a currency exchange bureau as the value of the Iranian rial drops, in Tehran, Iran, December 20, 2025. (Via Reuters)
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Iran's Central Bank Chief Resigns

A man walks past a sign at a currency exchange bureau as the value of the Iranian rial drops, in Tehran, Iran, December 20, 2025. (Via Reuters)
A man walks past a sign at a currency exchange bureau as the value of the Iranian rial drops, in Tehran, Iran, December 20, 2025. (Via Reuters)

Iran's central bank chief, Mohammad Reza Farzin, has resigned, the semi-official ​Nournews agency reported on Monday, citing an official at the president's office, as the country battles a slump in its rial currency and high inflation.

The rial, which has been falling as the Iranian economy has suffered from the impact of Western sanctions, fell to a ‌new record low on ‌Monday at around 1,390,000 ‌to ⁠the ​dollar, according ‌to websites displaying open market rates.

Iranian media outlets reported there had been demonstrations in the capital Tehran, mainly by shop owners, against the economic situation.

Farzin has headed the central bank since December 2022. His resignation will be reviewed by President Masoud ⁠Pezeshkian, the official added, according to Nournews.

Iranian state media reported ‌later on Monday, citing the communications ‍and information deputy ‍at the Iranian president's office, that former Economy ‍Minister Abdolnaser Hemmati will be appointed as the new central bank chief.

Iranian media have said the government's recent economic liberalization policies have put pressure on the ​open-rate currency market.

The open-rate market is where ordinary Iranians buy foreign currency, whereas businesses typically ⁠use state-regulated rates.

The reimposition of US sanctions in 2018 during President Donald Trump's first term has harmed Iran's economy by limiting its oil exports and access to foreign currency.

The Iranian economy is at risk of recession, with the World Bank forecasting GDP will shrink by 1.7% in 2025 and 2.8% in 2026. The risk is compounded by rising inflation, which hit a 40-month high of ‌48.6% in October, according to Iran's Statistical Center.


Lebanon Signs Deal to Purchase Natural Gas from Egypt

A diesel storage tank is seen at the Middle East Oil Refinery Company (MIDOR) in Alexandria, Egypt, November 7, 2018. REUTERS/Amr Abdallah Dalsh
A diesel storage tank is seen at the Middle East Oil Refinery Company (MIDOR) in Alexandria, Egypt, November 7, 2018. REUTERS/Amr Abdallah Dalsh
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Lebanon Signs Deal to Purchase Natural Gas from Egypt

A diesel storage tank is seen at the Middle East Oil Refinery Company (MIDOR) in Alexandria, Egypt, November 7, 2018. REUTERS/Amr Abdallah Dalsh
A diesel storage tank is seen at the Middle East Oil Refinery Company (MIDOR) in Alexandria, Egypt, November 7, 2018. REUTERS/Amr Abdallah Dalsh

Lebanon said Monday it plans to purchase natural gas from Egypt, seeking to reduce its reliance on fuel oil for its ageing power plants in a country hamstrung by regular electricity cuts.

The electricity sector has cost Lebanon more than $40 billion since the end of its 1975-1990 civil war, and successive governments have failed to reduce losses, repair crumbling infrastructure or even guarantee regular power bill collections.

Residents rely on expensive private generators and solar panels to supplement the unreliable state supply.

Prime Minister Nawaf Salam's office said in a statement that the memorandum of understanding between Lebanon and Egypt sought "to meet Lebanon's needs for natural gas allocated for electricity generation".

It was signed by Lebanese Energy Minister Joe Saddi and Egyptian Petroleum Minister Karim Badawi, according to AFP.

"Lebanon's strategy is first to transition to the use of natural gas, and second, to diversify gas sources," Saddi said, adding that "the process will take time because pipelines need rehabilitation".

Lebanon will "contact donor agencies to see how they can help finance the rehabilitation" of the Lebanese section of the gas pipelines, he said, adding that repair work would take several months.

President Joseph Aoun said the memorandum of understanding was "a practical and essential step that will enable Lebanon to increase its electricity production".

A statement from Cairo's petroleum and mineral resources ministry said that "Egypt is fulfilling its role in supplying Lebanon with natural gas, with the aim of supporting energy security for Arab countries".

In 2022, Lebanon signed a deal to import natural gas from Egypt and Jordan via Syria to boost power supply, but the contracts were never implemented due to financing issues and US sanctions on Syria.

Washington recently lifted it Syria measures following the fall of longtime ruler Bashar al-Assad last year.

In April, Lebanon signed a $250 million agreement with the World Bank to modernise its electricity sector.


Chile to Restore Global Leadership in Lithium Production

Aerial view of brine ponds and processing areas of the lithium mine of the Chilean company SQM (Sociedad Quimica Minera) in the Atacama Desert, Calama, Chile, on September 12, 2022. (AFP)
Aerial view of brine ponds and processing areas of the lithium mine of the Chilean company SQM (Sociedad Quimica Minera) in the Atacama Desert, Calama, Chile, on September 12, 2022. (AFP)
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Chile to Restore Global Leadership in Lithium Production

Aerial view of brine ponds and processing areas of the lithium mine of the Chilean company SQM (Sociedad Quimica Minera) in the Atacama Desert, Calama, Chile, on September 12, 2022. (AFP)
Aerial view of brine ponds and processing areas of the lithium mine of the Chilean company SQM (Sociedad Quimica Minera) in the Atacama Desert, Calama, Chile, on September 12, 2022. (AFP)

Chile's state-owned copper producer, Codelco, together with Chinese-backed private miner, SQM, announced on Saturday the creation of a giant company to exploit lithium, often referred to as "white gold."

The South American country is the world’s second-largest producer of lithium, a key component of EVs and other clean technologies and has about 40% of the world’s lithium reserves.

The partnership between the firms will allow them to jointly ramp up the exploration of lithium in the Atacama region of northern Chile.

The public-private partnership will be named Nova Andino Litio SpA, said Codelco, which described the agreement as one of the most significant deals in Chilean business history.

The Chinese firm Tianqi holds 22% stake in SQM.

In a statement, Codelco said the new partnership will carry out lithium exploration, extraction, production, and commercialization activities in the Atacama salt flat until 2060.

The agreement was approved by more than 20 national and international regulatory authorities, including those in China, Brazil, Saudi Arabia, and the European Union.

Chile was the last of the countries to clear the deal. Last month, China gave the green light to the planned partnership between Codelco and SQM.

The new venture is intended to help Chile regain global leadership in lithium production, a position it lost to Australia nearly a decade ago.

The partnership aims to expand lithium output in the Atacama region, with plans to increase production by around 300,000 tons per year. In 2022, Chile produced 243,100 tons of lithium.

The partnership also aligns with Chile’s National Lithium Strategy, announced in 2023 by the leftist government of President Gabriel Boric, aimed at reclaiming Chile’s global leadership in lithium production.