Davos Diary: An evening in the life of WEF, from Brexit to biodiversity

Al Gore, former US Vice President and Climate Reality Project Chairman, naturalist Sir David Attenborough and New Zealand’s Prime Minister Jacinda Ardern at the WEF, in Davos. (Reuters)
Updated 25 January 2019
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Davos Diary: An evening in the life of WEF, from Brexit to biodiversity

  • An absent Theresa May was the star of the show at WEF last year, before the Brexit debacle took such a serious turn
  • Sir David Attenborough was present to spread the word about climate change, which is one of the hot topics of Davos 2019

DAVOS: The Belvedere hotel was buzzing with rumor on the eve of the formal opening day of Davos 2019, and most of it centered on British Prime Minister Theresa May. Will she? Won’t she?
The UK leader has apparently withdrawn from this year’s World Economic Forum (WEF) meeting. She is one of a number of big-hitters who have decided their services are needed at home, in the face of populist “crises” ravaging the US and Europe.
In the Belvedere, the reason for May’s absence was apparent from the first step in the door. There, in the main lobby amid all the corporate branding for the banks and consulting firms that make the hotel their home base for the duration of Davos, flew the Union flag of the UK along with the slogan “Free Trade is GREAT Britain and Northern Ireland.”
Very in-your-face, but it was hard to work out exactly who had hung it there. Was it a Brexiteer, anxious to promote the idea that after withdrawal from the EU, the UK would be free to trade with the rest of the world? Or was it a member of the Remain camp, pushing the line that Britain within the EU would be free to trade with the 27 other member of the customs union?
There were other conspiracy theories being spun around. It was a greeting flag, it was said, to welcome May on what would be a surprise visit after all. British business leaders — marginally more anti- than pro-Brexit — are due to hold their annual Davos lunch event on Thursday.
Some recalled that May was the star of the show there last year, before the Brexit debacle took such a serious turn. Maybe she would want to reprise that triumph? Such is the hectic pace at which rumor spreads in Davos that I heard the same notion being put around later in the day as hard fact. We shall see, but if it happens, you read it here first.
After the excitement of the Belvedere, the agenda moved to the Hilton hotel, back within the ring of steel that surrounds the main WEF congress hall. That was the venue for the welcome bash thrown by the WEF media team, which is always a “must attend” event. Even more so this year because the guest speaker was the distinguished British broadcaster and naturalist Sir David Attenborough. The nonagenarian TV supremo — maker and voiceover to the “Planet” series of nature programs on the BBC — was in Davos to spread the word about climate change, which is one of the hot topics of Davos 2019.
Adrian Monck, the WEF’s head of public and social engagement and a former broadcaster himself, introduced Sir David with the words: “It’s not often you get to hear from a TV legend, but I don’t want to get into my TV career now,” drawing a few laughs around the room.
Sir David’s message on climate change and biodiversity destruction was rather more serious. “There are people here in Davos with enormous power, some who have more power than national states.
I want to tell them that we know what the matter is and we know what we can do to fix it,” he said.
He hopes his new documentary series “Our Planet,” which will air on Netflix, will help change perceptions, especially among climate change deniers. Sir David resisted the chance to criticize President Donald Trump, maybe the denier-in-chief, but he did say: “It is easy to say the problem does not exist, so we need bold action and bravery.”

  • Frank Kane is an award-winning business journalist based in Dubai. Twitter: @frankkanedubai

Closing Bell: Saudi main index closes in red at 11,183

Updated 16 February 2026
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Closing Bell: Saudi main index closes in red at 11,183

RIYADH: Saudi Arabia’s Tadawul All Share Index dipped on Monday, losing 44.79 points, or 0.4 percent, to close at 11,183.85.

The total trading turnover of the benchmark index was SR4.05 billion ($1.08 billion), as 69 of the listed stocks advanced, while 191 retreated.

The MSCI Tadawul Index decreased, down 6.63 points or 0.44 percent, to close at 1,504.73.

The Kingdom’s parallel market Nomu lost 328.20 points, or 1.36 percent, to close at 23,764.92. This comes as 22 of the listed stocks advanced, while 49 retreated.

The best-performing stock was Maharah Human Resources Co., with its share price surging by 7.26 percent to SR6.50.

Other top performers included Arabian Cement Co., which saw its share price rise by 6.27 percent to SR22.71, and Saudi Research and Media Group, which saw a 4.3 percent increase to SR104.30.

On the downside, the worst performer of the day was Arabian Internet and Communications Services Co., whose share price fell by 8.01 percent to SR207.80.

Jahez International Co. for Information System Technology and Al-Rajhi Co. for Cooperative Insurance also saw declines, with their shares dropping by 5.61 percent and 4.46 percent to SR12.79 and SR75, respectively.

On the announcement front, Etihad Etisalat Co. announced its financial results for 2025 with a 7.9 percent year-on-year growth in its revenues, to reach SR19.6 billion.

In a Tadawul statement, Mobily said that this growth is attributed to “the expansion of all revenue streams, with a healthy growth in the overall subscriber base.”

Mobily delivered an 11.6 percent increase in net profit, reaching SR3.4 billion in 2025 compared to SR3.1 billion in 2024.

The company’s share price reached SR67.85, marking a 0.37 percent increase on the main market.