Facing populist assault, global elites regroup in Davos

Staff prepare the congress hall ahead of the opening of the 2019 World Economic Forum (WEF) annual meeting on January 20, 2019 in Davos, eastern Switzerland. (AFP)
Updated 21 January 2019
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Facing populist assault, global elites regroup in Davos

DAVOS: As the world’s financial and political elites convene here in the Swiss Alps for the World Economic Forum, their vision of ever-closer commercial and political ties is under attack — and the economic outlook is darkening.
Britain’s political system has been thrown into chaos as the country negotiates a messy divorce from the European Union. Under President Donald Trump, the United States is imposing trade sanctions on friend and foe alike, and the government is paralyzed by a partial shutdown that forced Trump and a high-level US delegation to cancel the trip to Davos.
French President Emmanuel Macron is sinking in the polls as he contends with “yellow vest” protesters. Nationalist political movements are gaining strength across Europe.
And experts are downgrading forecasts for global growth this year.


Spanish PM vows justice, defends rail safety after deadly accidents

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Spanish PM vows justice, defends rail safety after deadly accidents

  • The back-to-back disasters in January shocked the country and raised doubts about the safety of train travel in Spain
MADRID: Spanish Prime Minister Pedro Sanchez vowed Wednesday that justice would be done following two train accidents that claimed 47 lives last month, and insisted the country’s rail system “is safe.”
The back-to-back disasters in January shocked the country and raised doubts about the safety of train travel in Spain, which boasts the world’s second-largest high-speed network after China.
“The entire state is doing — and will continue to do — everything possible to support the injured and the victims’ families, clarify the causes of the accident, and, if necessary, ensure justice is done,” Sanchez told parliament.
Spain’s rail system “is not perfect, but it is safe,” the Socialist premier added, vowing to take all necessary measures to prevent similar tragedies in the future.
Shock hit the rail sector after a collision between two high-speed trains in the southern region of Andalusia on January 18 resulted in the death of 46 people — one of Europe’s deadliest such disasters this century.
Two days later, a commuter train in the Barcelona region plowed into the rubble of a collapsed wall, killing the driver and injuring dozens.
The government reached a deal with railway unions on Monday to invest 1.8 billion euros ($2.1 billion) to improve maintenance, create 3,650 jobs, and strengthen public rail safety.
The agreement prompted unions to call off a three-day strike that had begun on Monday to demand greater safety for their profession.