Home Blog Page 621

SEC opens Laoag City office

BAGUIO CITY — The Securities and Exchange Commission’s (SEC) first extension office in Northwestern Luzon has opened in Laoag City, Ilocos Norte.

Governor Matthew J. Marcos Manotoc and SEC Chairperson Emilio B. Aquino, both emphasized during the opening “the importance (of the office) in further boosting the economic performance of the provinces (in the area).”

The SEC Laoag extension office, located on the 5th floor of the Dap-Ayan Commercial Center, will accommodate the registration, compliance processes, and other SEC-related transactions of businesses across Ilocos Norte, Ilocos Sur, La Union, and Pangasinan, ensuring the timely and efficient delivery of services.

It will also facilitate the Commission’s investor protection and education programs to safeguard businesses against scams and other fraudulent schemes. — Artemio A. Dumlao

Baguio, Benguet power rates dip in January

BENECO FB PAGE

BAGUIO CITY — Power rates in Baguio City and Benguet province dipped this January, the Benguet Electric Cooperative (BENECO) said.

BENECO’s January 2025 rate of P10.7718 per kilowatt-hour (kWh) is lesser by P0.2025 compared to P10.9743/kWh in December.

This led to a total of P1,077.18 for households that consumed 100 kWh.

Fraiser P. Angayen, Non-Network Services Department manager at BENECO, explained that the lower rates were due to the reduction of the power cost that the cooperative purchased from the Wholesale Electricity Spot Market (WESM).

The power purchased from WESM represents 12.09% of BENECO’s total power requirement as the bulk of the power supply, which is 87.37%, comes from Limay Power Inc. (LPI).

The LPI is the electric cooperative’s major power supplier while the WESM is the country’s spot market for power supply.

“The decrease in coal price in the global market had a bigger impact in our generation rate, despite the noted increase in foreign exchange rate,” Mr. Angayen further explained.

According also to Mr. Angayen, the cost of power purchased from WESM and LPI compose the blended generation rate of BENECO that is passed on to consumers every month as generation cost.

“Had we bought all our power supply from the WESM, our generation rate could have been less than P4 per kWh since the spot market prices were low for the period,” Melchor S. Licoben, general manager explained, noting that buying all power requirements from the WESM would not be possible in view of the Emergency Power Supply Agreement with LPI.

Mr. Licoben further stressed, “Ideally, bilateral contracts are better to ensure a continuous and stable supply of electricity. The prices this month at WESM could be cheaper but in the long run, the prices could increase.”  He added, “WESM is a volatile market that cannot guarantee a stable power supply. Relying on the WESM as a source of power supply will be risky.”

He further noted that WESM is there to stabilize supply whenever imbalances in the grid emerge. “But we are not sure of the power cost,” Mr. Licoben said. — Artemio A. Dumlao

PDEA-12 arrests 3 drug peddlers

COTABATO CITY — Three drug peddlers, long wanted for distributing narcotics near school campuses and in far-flung farming enclaves, were arrested in an entrapment operation by the Philippine Drug Enforcement Agency-12 (PDEA-12) in Tacurong City on Wednesday.

Benjamin C. Recites III, director of the PDEA-12, told reporters on Thursday that the now-detained suspects, one of them a woman, will be prosecuted for violation of the Comprehensive Dangerous Drugs Act of 2002.

Mr. Recites said the suspects yielded peacefully when they sensed that they had sold P680,000 worth of crystal meth (shabu) to non-uniformed PDEA-12 agents and policemen during a tradeoff along a stretch of a highway in Barangay Poblacion in Tacurong City.

Mr. Recites said their agents involved in the operation found out that all three suspects were residents of a town in Maguindanao del Norte, close to Cotabato City.

Barangay officials in their hometown told reporters all three suspects distributed shabu to retailers operating near school campuses and in interior areas in towns in Maguindanao del Norte. — John Felix M. Unson

Iga Swiatek leads top seeds into third round of Australian Open

IGA SWIATEK — AUSOPEN.COM

MELBOURNE — Second-seed Iga Swiatek waltzed into the third round of the Australian Open on Thursday with fellow Grand Slam champions Emma Raducanu and Elena Rybakina also winners on a bright and sunny day at Melbourne Park.

A day after intermittent rain dampened the spirits, five-time Grand Slam champion Swiatek shot out of the blocks on Rod Laver Arena to crush Rebecca Sramkova 6-0, 6-2 and set up a clash with Raducanu.

“I felt pretty confident, and I started the match well so I just kept going,” said Swiatek. “It was good to play in such an efficient way and just finish it quick.”

Former Wimbledon champion Elena Rybakina overcame a second-set wobble to beat 17-year-old American wildcard Iva Jovic 6-0, 6-3, the second teenager she has sent packing from the tournament.

Raducanu, who has struggled with a string of injuries since her 2021 US Open triumph, required an off-court medical timeout for an apparent left hip issue at 0-3 in the second set against Amanda Anisimova, before seeing off the American 6-3, 7-5.

“I’m very happy,” said Raducanu. “I thought I played really well in some big moments in that match.”

On the men’s side, fourth-seed Taylor Fritz romped past qualifier Cristian Garin 6-2, 6-1, 6-0 and Ben Shelton took out Pablo Carreno Busta 6-3, 6-3, 6-7(4), 6-4, making three Americans in the third round with more possibly to come.

Fritz has given up only eight games in his two matches so far and will next face 38-year-old Frenchman Gael Monfils, who earned his spot in the third round with a 7-5, 6-3, 7-6(3) win over German Daniel Altmaier.

While Andre Agassi was the last American man to win the Melbourne Park title back in 2003, Australia’s wait for a homegrown men’s champion goes back to 1976.

Alex de Minaur, the eighth-seed, is their best hope of breaking that long drought this year and he kept those hopes alive by beating American qualifier Tristan Boyer 6-2, 6-4, 6-3 on Rod Laver Arena.

Defending men’s champion Jannik Sinner will kick off the evening session, while fellow Italians Jasmine Paolini and Matteo Berrettini feature on an action-packed fifth day at the year’s first major.

Lorenzo Musetti got the Italians off to a strong start by reaching the third round in Melbourne for the first time with a 7-6(3), 7-6(6), 6-2 victory over Denis Shapovalov.

Tunisia’s Ons Jabeur, on a mission to become the first African and Arab woman to win a major, moved past Camila Osorio 7-5, 6-3 but was in tears during a medical timeout as she kept touching her chest area and coughing.

Swiatek’s fellow Pole Hubert Hurkacz was another player who needed attention as he struggled with blisters on his left foot before falling 6-4, 6-4, 6-2 to Miomir Kecmanovic.

Eighth-seeded American Emma Navarro needed three sets to get past Wang Xiyu 6-3, 3-6, 6-4, while ninth-seed Daria Kasatkina powered into the next round with a 6-2, 6-0 victory over Wang Yafan.

Ukraine’s Dayana Yastremska, a semifinalist as a qualifier last year, thumped Danka Kovinic 6-0 6-1 to set up a clash with 2023 finalist Rybakina. — Reuters

Chris Koon joins SGA in Dubai international basketball tournament

CHRIS KOON — UAAP

FORMER Ateneo de Manila University Blue Eagle Chris Koon will start his professional career with Strong Group Athletics (SGA) in the 34th Dubai International Basketball Championship from Jan. 24 to Feb. 2.

Mr. Koon’s addition completed SGA’s roster for its redemption tour in the bustling Middle East city following a runner-up finish last year.

A 6-foot-5 guard, Mr. Koon is coming off his final year with the Blue Eagles in the UAAP Season 87 behind averages of 7.58 points, 4.17 rebounds and 1.83 assists as the once-powerhouse Ateneo program absorbed a surprising early exit at the bottom spot.

“He has good size as a wing, can shoot, can defend. I think he will be a good role player for us. And we all know he’s been well coached and comes from a great school and program, so it’s good to have him,” said head coach Charles Tiu.

The Fil-American ace will join a formidable local crew led by his Ateneo former teammate Dave Ildefonso, Rhenz Abando, Mikey Williams and Jason Brickman alongside Mr. Tiu’s College of St. Benilde players in NCAA MVP Allen Liwag, Tony Ynot and Justine Sanchez.

Reinforcing the Philippine club are American imports DeMarcus Cousins, Malachi Richardson and Terry Larrier as well as Gilas Pilipinas naturalized players Andray Blatche and Ange Kouame.

SGA, then led by Dwight Howard, swept its way through to the Dubai finale only to taste a buzzer-beating defeat to Lebanon’s Al Riyadi, 77-74. — John Bryan Ulanday

Teener Dormitorio wins gold in UCI Thailand Mountain Bike Cup

JUST like her elder sister Ariana, Lexi Dormitorio once dreamed of reaping honors for the country in the international scene one day.

That day came on Wednesday when the 16-year-old Ms. Dormitorio struck gold in the women’s junior cross-country of the 2025 UCI Thailand Mountain Bike Cup in Kanchanaburi.

There, she clocked 50 minutes and 51.914 seconds, leaving Thailand’s Pinpak Chiengsuan eating dust after the latter checked in at 59:38.765 and settled for the silver.

It was another feat the country received from a Dormitorio similar to what the elder sibling, Ariana, had done so in the past after snaring an Asian Continental Championship Under-23 gold and a Southeast Asian Games silver.

Ms. Dormitorio’s golden moments was one of the four medals copped the country in the two-day race.

It came from Thirdy Manaay, who pocketed a silver in the men’s junior cross-country, Adrian Nacario, who snatched a silver in the men’s U23 cross-country, and John Andre Aguja, who took a bronze in the men’s U23 cross-country.

Another Filipino, Justine Anastacio, was fifth in the men’s U23 cross-country. — Joey Villar

Damian Lillard puts up 30 points as Milwaukee Bucks rout Orlando

DAMIAN LILLARD scored 30 points and Giannis Antetokounmpo added 26 points and 11 boards to lead the host Milwaukee Bucks to a dominant 122-93 victory over the Orlando Magic on Wednesday.

Khris Middleton and Bobby Portis each added 14 points off the bench for Milwaukee, which won for the fifth time in six games. Brook Lopez scored 13 points and blocked five shots.

Paolo Banchero led Orlando with 22 points on 8-for-20 shooting. Wendell Carter Jr. added 12 points and 10 boards as the Magic took their fourth loss in six games. Trevelin Queen scored 13 points, Cole Anthony had 11 and Anthony Black contributed 10.

Milwaukee dominated the first quarter while building a 34-16 lead. Orlando went on a stretch of five minutes without scoring.

In the second, the Magic only got as close as 13 points before the Bucks led 62-41 at halftime.

Orlando threw up 23 3-point attempts in the half and made just four. Milwaukee was 3-for-6 from long ranger before the break, while Lillard led the Bucks with 18 points.

Milwaukee guard Andre Jackson Jr. left this game just before halftime in some clear discomfort after getting hit on his right side. After trying to warm up during the break, he was ruled out because of a right hip contusion.

In the third, it was more of the same from the Bucks, who shot 62.5% from the floor in the period and led 92-68 going into the fourth.

Lillard put his final stamp on the game at the start of the final quarter with two steals against Banchero and a deep step-back 3-pointer. That helped Milwaukee eventually get to its largest lead of 32.

Antetokounmpo had his streak of seven consecutive games of scoring over 30-plus points against the Magic come to an end when he did not play in the fourth quarter.

Still, Antetokounmpo passed Walter Davis (19,521) to move up to No. 55 on the NBA’s all-time scoring list. Antetokounmpo ended the night with 19,535 career points.

The Bucks clinched the four-game season series against Orlando with their third consecutive win. The teams meet again on March 8 in Milwaukee. — Reuters

Los Angeles Lakers snap three-game skid with win over Miami Heat

ANTHONY DAVIS scored 22 points with 11 rebounds, LeBron James added 22 points with nine assists and the Los Angeles Lakers ended a three-game losing streak by rallying for a 117-108 victory on Wednesday over the visiting Miami Heat.

Rui Hachimura scored a team-high 23 points, Max Christie had 16 and Austin Reaves added 14 points and 14 assists for the Lakers, who improved to 1-1 since they had two games postponed because of deadly wildfires in the Los Angeles area.

Tyler Herro scored 34 points for the Heat on a torrid shooting night that saw him go 12 of 18 from the floor and 7 of 12 from 3-point range. Haywood Highsmith and Nikola Jovic each scored 12 points for Miami, which dropped to 3-4 since Jimmy Butler was suspended for seven games for conduct detrimental to the team.

The Lakers trailed by as many as 12 points in the third quarter before finally finding their stride. Los Angeles was down 83-73 with 3:46 remaining in the third before going on a 15-4 run to take an 88-87 lead with 10:47 remaining after a 3-pointer from Vincent.

Miami tied the game 94-94 with 8:13 remaining on a driving layup from Duncan Robinson and was within 108-106 with 3:51 to play on a 3-pointer from Jovic.

Lakers took control with a 7-0 run to take a 115-106 lead with 1:52 remaining on a fadeaway jumper from James. The Lakers outscored the Heat 63-42 in the second half, including 34-23 in the fourth quarter.

The Lakers ended the game shooting 52.2% from the floor after shooting 59.5% in the second half.

The Heat outscored the Lakers 66-54 in the first half behind 58.3% shooting from the floor, including 10 of 18 from 3-point range. Herro was 7-of-8 shooting in the first half, including 5 of 5 from 3-point range and had 22 points. — Reuters

Jokic the difference

Elbow inflammation sidelined Nikola Jokic on Thursday, and the effect of his absence was as expected for the Nuggets; a debilitating loss to the Rockets at home. The irony was that he couldn’t even show up for tipoff, what with him catching the injury bug during warmups. And, immediately, his teammates wound up playing catch-up ball; apart from a 3-3 tie, they were on the wrong end of the score until the final buzzer. Which was why a number of observers could not quite fathom how and why estimation of his worth seemed to have gone down in the eyes of the media, whose members just so happen to vote for the Most Valuable Player award.

Perhaps it was too much to expect the Nuggets to keep pace with the Rockets, currently second in the highly competitive West without Jokic on tap. Not that they were bad. For the match, they shot a more than respectable 53.3% from the field, and made close to half their attempts from three-point territory. Their numbers were, no doubt, a reflection of the return to form of starting guard Jamal Murray, who had hitherto been unable to live up to a whopping four-year, $208-million contract extension in the offseason. Unfortunately, their lack of a stable frontline — with Aaron Gordon likewise convalescing — told on their competitiveness.

Indeed, defense was where the Nuggets stood wanting. Beyond Jokic’s near triple-double average for the 2024-25 campaign to date is his role as their defensive anchor, which their platoon of warm bodies could not fulfill on Thursday. And as good as Russell Westbrook may have been of late, the willingness of the spirit ultimately failed to offset the weakness of the flesh. The Rockets pounded the ball with trademark physicality and saw little to no opposition, hence the heightened frequency in getting leather and nylon to meet.

If there’s anything Thursday’s debacle has underscored, it’s that the Nuggets are able to take the measure of the best of the best only because of Jokic. Without him, they invariably scrape the bottom of the barrel. His influence on both ends of the court is simply too much to make up for by the rest of the blue, yellow, and red. He supplies the sauce that makes the ingredients work. Murray or no, Gordon or no, Westbrook or no, he doesn’t only make the difference; he is the difference.

 

Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994. He is a consultant on strategic planning, operations and human resources management, corporate communications, and business development.

DigiPlus introduces tools for players to control gaming time and bets

DigiPlus Interactive Corp., the company behind leading platforms BingoPlus, ArenaPlus, and GameZone, has raised the bar for responsible gaming in the Philippines by launching an advanced Responsible Gaming tab within its platform. This groundbreaking feature provides players with a powerful set of tools to take control of their gaming habits. With options to set daily gaming durations, customize specific gaming schedules, and establish daily loss limits, DigiPlus ensures that players can enjoy gaming responsibly, within boundaries they define for themselves.

For example, players can now set a gaming duration that ensures their gaming is confined to specific hours, such as during evenings, or lunch breaks, without interfering with work or family commitments. Players can also set a daily loss limit, such as not exceeding P1,000, ensuring they never risk more than they are comfortable with. These self-defined features allow players to enjoy the fun and excitement of gaming while ensuring that it never becomes a source of stress or financial strain.

The Responsible Gaming feature is at par with global standards, reflecting DigiPlus’ leadership in adopting best practices for player welfare. These self-exclusion measures, commonly implemented by leading international gaming operators, empower players to prioritize their well-being while enjoying the fun and excitement of gaming. By integrating these tools directly into the app, DigiPlus guarantees easy accessibility and seamless user experience, demonstrating a proactive commitment to protecting players from potential harm.

“The launch of the Responsible Gaming tab in our platforms reflects our deep commitment to our players’ welfare,” said DigiPlus Interactive Chairman Eusebio Tanco. “We believe gaming should always remain a safe and enjoyable activity. By giving our players the tools to manage their gaming habits responsibly, we’re setting a new benchmark for responsible gaming, one that aligns with global standards and emphasizes our care for every individual who engages with our platforms.”

This new and innovative feature is complemented by DigiPlus’ broader responsible gaming initiatives through its social development arm, BingoPlus Foundation. The “Tamang Laro, Tamang Panalo” webinar series provides education on maintaining a healthy gaming-life balance, managing emotional and mental health, and recognizing when to seek intervention. Personalized financial coaching sessions are also offered to guide players in making sound financial decisions, as demonstrated in the support provided to the jackpot winners, the most recent one being the P312-million Lucky Spin winner.

DigiPlus’ self-exclusion tools and educational programs align with PAGCOR’s mission to promote responsible gaming and create a safer environment for players. This latest advancement in responsible gaming is a testament to DigiPlus’ vision of creating a sustainable and enjoyable gaming ecosystem that puts people first.

About DigiPlus Interactive Corp.

DigiPlus Interactive Corp. pioneered digital entertainment in the Philippines. It introduced leading platforms BingoPlus and ArenaPlus, widely known for their engaging experiences in interactive gaming and sports entertainment. DigiPlus also operates PeryaGame, Tongits+, and GameZone, with more to come. For more information, visit www.digiplus.com.ph.

 


Spotlight is BusinessWorld’s sponsored section that allows advertisers to amplify their brand and connect with BusinessWorld’s audience by publishing their stories on the BusinessWorld Web site. For more information, send an email to online@bworldonline.com.

Join us on Viber at https://bit.ly/3hv6bLA to get more updates and subscribe to BusinessWorld’s titles and get exclusive content through www.bworld-x.com.

Israel and Hamas agree to Gaza ceasefire deal

PALESTINIAN supporters celebrate news of a ceasefire with Israel in Berlin, Germany, Jan. 15, 2025. — REUTERS

DOHA/CAIRO/JERUSALEM – Israel intensified strikes on Gaza hours after a ceasefire and hostage release deal was announced, residents and authorities in the Palestinian enclave said, and mediators sought to quell fighting ahead of the truce’s start on Sunday.

The complex ceasefire accord between Israel and militant group Hamas, which controls Gaza, emerged on Wednesday after months of mediation by Qatar, Egypt and the US and 15 months of bloodshed that devastated the coastal territory and inflamed the Middle East.

The deal outlines a six-week initial ceasefire with the gradual withdrawal of Israeli forces from the Gaza Strip, where tens of thousands have been killed. Hostages taken by Hamas would be freed in exchange for Palestinian prisoners held by Israel.

At a news conference in Doha, Qatari Prime Minister Sheikh Mohammed bin Abdulrahman Al Thani said the ceasefire would take effect on Sunday. Negotiators are working with Israel and Hamas on steps to implement the agreement, he said.

“This deal will halt the fighting in Gaza, surge much-needed humanitarian assistance to Palestinian civilians, and reunite the hostages with their families after more than 15 months in captivity,” U.S. President Joseph R. Biden said in Washington.

His successor, Donald Trump, takes office on Monday and claimed credit for the breakthrough in Gaza.

Israel’s acceptance of the deal will not be official until it is approved by the country’s security cabinet and government, with votes slated for Thursday, an Israeli official said.

The accord was expected to win approval despite opposition from some hardliners in Israeli Prime Minister Benjamin Netanyahu’s coalition government.

While people celebrated the pact in Gaza and Israel, Israel’s military escalated attacks after the announcement, the civil emergency service and residents said.

Heavy Israeli bombardment, especially in Gaza City, killed 32 people late on Wednesday, medics said. The strikes continued early on Thursday and destroyed houses in Rafah in southern Gaza, Nuseirat in central Gaza and in northern Gaza, residents said.

Israel’s military made no immediate comment and there were no reports of Hamas attacks on Israel after the ceasefire announcement.

A Palestinian official close to the ceasefire negotiations said mediators were seeking to persuade both sides to suspend hostilities ahead of the ceasefire going into effect.

JUBILATION IN GAZA
In social media posts, some Gaza residents urged Palestinians to exercise extra caution in the belief Israel could step up attacks in the next few days to maximize gains before the ceasefire starts.

Nevertheless, news of the ceasefire deal sparked jubilation in Gaza, where Palestinians have faced severe shortages of food, water, shelter and fuel. In Khan Younis, throngs clogged the streets amid the sounds of horns as they cheered, waved Palestinian flags and danced.

“I am happy. Yes, I am crying, but those are tears of joy,” said Ghada, a displaced mother of five.

In Tel Aviv, families of Israeli hostages and their friends likewise welcomed the news, saying in a statement they felt “overwhelming joy and relief (about) the agreement to bring our loved ones home.”

In a social media statement announcing the ceasefire, Hamas called the pact “an achievement for our people” and “a turning point.”

If successful, the ceasefire will halt fighting that has razed much of heavily urbanized Gaza, killed over 46,000 people and displaced most of the tiny enclave’s pre-war population of 2.3 million, according to Gaza authorities.

That in turn could defuse tensions across the wider Middle East, where the war has stoked conflict in the Israeli-occupied West Bank, Lebanon, Syria, Yemen and Iraq, and raised fears of all-out war between arch regional foes Israel and Iran.

With 98 Israeli hostages remaining in Gaza, phase one of the deal entails the release of 33 of them, including all women, children and men over 50. Two American hostages, Keith Siegel and Sagui Dekel-Chen, were among those to be released in the first phase, a source said.

FOOD LINED UP AT THE GAZA’S BORDERS
The agreement calls for a surge in humanitarian assistance to Gaza, and the U.N. and the International Committee of the Red Cross said they were preparing to scale up their aid operations.

“A ceasefire is the start — not the end. We have food lined up at the borders to Gaza — and need to be able to bring it in at scale,” said Cindy McCain, World Food Program executive director, on X.

Global reaction to the ceasefire was enthusiastic. Leaders and officials of Egypt, Turkey, Britain, the United Nations, the European Union, Jordan, Germany and the United Arab Emirates, among others, celebrated the news.

Mr. Biden andMr.  Trump both claimed credit for the deal that was months in the making but was helped across the line by a Trump emissary.

Mr. Trump’s Mideast envoy Steve Witkoff was in Qatar along with White House envoys for the talks, and a senior Biden administration official said Mr. Witkoff’s presence was critical to reaching a deal after 96 hours of intense negotiations.

Mr. Biden said that the two teams had “been speaking as one”.

Israeli hostage families expressed concern that the accord may not be fully implemented and some hostages may be left behind in Gaza.

Negotiations on implementing the second phase of the deal will begin by the 16th day of phase one, and this stage was expected to include the release of all remaining hostages, a permanent ceasefire and the complete withdrawal of Israeli forces from Gaza.

The third stage is to address the return of all remaining dead bodies and the start of Gaza’s reconstruction supervised by Egypt, Qatar and the United Nations.

If all goes smoothly, the Palestinians, Arab states and Israel must still agree on a vision for post-war Gaza, including the unanswered question of who will run Gaza after the war.

Israeli troops invaded Gaza after Hamas-led gunmen burst into Israeli border-area communities on Oct. 7, 2023, killing 1,200 soldiers and civilians and abducting over 250 hostages, according to Israeli tallies. — Reuters

Wars, extreme weather are the top global risks — WEF survey

FILIPINO and American soldiers participate in war games at a recent Balikatan (shoulder to shoulder) military exercise. — PHILIPPINE STAR/WALTER BOLLOZOS

LONDON — Armed conflict is the top risk in 2025, a World Economic Forum (WEF) survey released on Wednesday showed, a reminder of the deepening global fragmentation as government and business leaders attend an annual gathering in Davos next week.

Nearly one in four of the more than 900 experts surveyed across academia, business and policymaking ranked conflict, including wars and terrorism, as the most severe risk to economic growth for the year ahead.

Extreme weather, the no. 1 concern in 2024, was the second-ranked danger.

“In a world marked by deepening divides and cascading risks, global leaders have a choice: to foster collaboration and resilience, or face compounding instability,” WEF Managing Director Mirek Dusek said in a statement accompanying the report.

“The stakes have never been higher.” The WEF gets underway on Jan. 20 and Donald Trump, who will be sworn in as the 47th president of the United States, will address the meeting virtually on Jan. 23. Ukraine President Volodymyr Zelensky will attend the meeting and give a speech on Jan. 21, according to the WEF organizers.

Advisers to Mr. Trump concede that the Ukraine war will take months or even longer to resolve, Reuters reported on Wednesday, a sharp reality check on his pledge to strike a peace deal on his first day in the White House.

Among other global leaders due to attend the Davos meeting are European Commission President Ursula von der Leyen and China’s Vice Premier Ding Xuexiang.

Syria, the “terrible humanitarian situation in Gaza” and the potential escalation of the conflict in the Middle East will be a focus at the gathering, according to WEF President and CEO Borge Brende.

Negotiators were hammering out the final details of a potential ceasefire in Gaza on Wednesday, following marathon talks in Qatar. The threat of misinformation and disinformation was ranked as the most severe global risk over the next two years, according to the survey, the same ranking as in 2024.

Over a 10-year horizon environmental threats dominated experts’ risk concerns, the survey showed. Extreme weather was the top longer-term global risk, followed by biodiversity loss, critical change to earth’s systems and a shortage of natural resources.

Global temperatures last year exceeded 1.5 degrees Celsius (2.7 degrees Fahrenheit) above the pre-industrial era for the first time, bringing the world closer to breaching the pledge governments made under the 2015 Paris climate agreement.

A global risk is defined by the survey as a condition that would negatively affect a significant proportion of global GDP, population or natural resources. Experts were surveyed in September and October.

The majority of respondents, 64%, expect a multipolar, fragmented global order to persist. — Reuters