The World Economic Forum (WEF) report said that short term labour market prospects are not encouraging for many countries.

A tiny elite comprising the richest 85 individuals hold wealth equivalent to that owned by the bottom half of the world's population, according to a report by worldwide development organisation Oxfam.

Failure to boost cyber security could cost the world economy a staggering $3 trillion as new regulations and approaches to deal with destructive attacks would stifle innovation, according to a report.