Chinese President Xi Jinping warned on Monday that confrontation between major powers could have "catastrophic consequences" in a speech to world leaders at an all-virtual Davos forum.

India's richest have more than doubled their fortunes during Covid-19 crisis that's ravaged the country and worsened poverty, and the government should revisit its policies to redistribute wealth, according to the global Oxfam Davos report of 2022.

The World Economic Forum will defer its annual meeting in Switzerland's Davos because of continuing uncertainty over the spread of the Omicron coronavirus variant.