Russia has “learned its lesson” about oil price volatility, the chief executive of the Russian Direct Investment Fund (RDIF) told CNBC Tuesday. Speaking from the World Economic Forum in Davos, RDIF CEO Kirill Dmitriev emphasized the importance of diversification in the Russian economy. “For the Russian economy we continue to focus on diversification. We expect […]

World leaders and media organizations should stop focusing on economic growth and the rise of the super-rich and start understanding the challenges of the average worker, John Studzinski, vice chairman of Blackstone Group, told CNBC Tuesday. Speaking on the sidelines of the World Economic Forum (WEF) in Davos, Studzinski said looking to worldwide gross domestic […]

UBS believes that bitcoin is a speculative investment and is not advising its clients to invest in the digital currency, the bank’s chairman told CNBC Tuesday. Speaking at the World Economic Forum in Davos, UBS Chairman Axel Weber said the bank makes a clear distinction between institutional and retail clients when it comes to investing […]

Global confidence among business leaders appears to be high given positive global growth prospects, but a number of chief executives of some of the world’s largest companies told CNBC that there was no room for complacency. PwC released a global CEO survey for 2018 this week that revealed record optimism among chief executives in terms […]

Amazon is threatening Google and Facebook‘s dominance of the digital ad space, Martin Sorrell told CNBC at the World Economic Forum in Davos on Tuesday. The CEO of WPP, the world’s largest ad company, explained why he saw a growth trajectory ahead for the American e-commerce giant’s ad business. “Amazon threatens Google in two ways. […]

European markets look set for a higher open Tuesday morning. Of the major bourses, the German DAX is expected to gain the most, up 55 points at 13,517.7. The U.K.’s FTSE is seen 18 points higher at 7,733.1, while the French CAC is expected to open 17 points to the upside at 5,558.8. Those openings […]

World-renowned singer, songwriter and performer Neil Diamond has announced his retirement from touring after being diagnosed with Parkinson’s disease. Acting on medical advice, Diamond cancelled the upcoming Australia and New Zealand legs of his 50th Anniversary tour, which were set to commence in March. Parkinson’s disease is a long-term degenerative disorder which affects the motor […]

The former chief of Saudi Arabia’s intelligence services gave a full-throated defense of his country’s foreign policy Monday, speaking to CNBC at the sidelines of the World Economic Forum in Davos, Switzerland. Prince Turki al Faisal, who ran the Saudi kingdom’s intelligence agency from 1979 to 2001 and is an influential member of the Saudi […]

Saudi Arabia’s involvement in Lebanese politics — notably its political crisis of November 2017 — is simply a matter of “relationship ups and downs,” Lebanese Deputy Prime Minister Ghassan Hasbani said at the World Economic Forum on Monday. Speaking to CNBC in Davos, Switzerland, the deputy leader had far more positive things to say about […]

Global auditing firm KPMG has highlighted geopolitical risk as the main issue occupying the minds of attendees at the World Economic Forum (WEF) in Davos, Switzerland. Bill Thomas, chairman of KPMG International, told CNBC on Monday that a survey of 1,300 chief executives had showed that geopolitical risk has risen right to the top of […]