Hungry Davos attendees to sample Saudi delicacies at Misk cafe

“The Saudi Café – operated by a Saudi chef, will introduce a piece of Saudi culture to the WEF,” the Misk Global Foundation said in a statement. (MiSK)
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Updated 20 January 2020

Hungry Davos attendees to sample Saudi delicacies at Misk cafe

  • The Saudi Café – operated by a Saudi chef, will introduce a piece of Saudi culture to the WEF
  • Misk also plans to release research at Davos

LONDON: Davos delegates will get to sample a taste of Saudi Arabia at a cafe in the event venue in Switzerland this week.
It is one of a series of initiatives organized by the Misk Foundation, a non-profit philanthropic foundation established by Saudi Crown Prince Mohammed bin Salman. It aims to empower Saudi youth to become active participants in the Kingdom’s future economy.
“The Saudi Café – operated by a Saudi chef, will introduce a piece of Saudi culture to the WEF,” the Misk Global Foundation said in a statement on the eve of the gathering.
Some 3,000 leaders from the worlds of business, public policy, culture and technology are due to arrive in the Alpine town of Davos for the annual meeting of the World Economic Forum (WEF), which begins on Tuesday.
Positioned at Promenade 80 and open daily to all, the Saudi Café will also offer networking and working spaces alongside coffee and traditional Saudi delicacies.
Misk also plans to release research at Davos highlighting how some of the biggest challenges facing attendees can be addressed by youth-led solutions.


UK inflation surges, weakening case for rate cut

Updated 19 February 2020

UK inflation surges, weakening case for rate cut

  • The Consumer Prices Index 12-month rate jumped more than expected on higher energy bills
  • ‘Inflation figures were in line with the Bank of England’s expectations’

LONDON: British annual inflation surged to 1.8 percent in January from 1.3 percent one month earlier, official data showed Wednesday, boosting the pound.
The Consumer Prices Index (CPI) 12-month rate jumped more than expected on higher energy bills, the Office for National Statistics said in a statement.
Analysts’ consensus forecast had been for an increase in the rate to 1.6 percent from a three-year low 1.3 percent in December.
“While CPI inflation rose for the first time in six months, the inflation figures were in line with the Bank of England’s expectations, so they are unlikely to move the dial on the outlook for interest rates,” said Ruth Gregory, senior UK economist at Capital Economics.
The Bank of England last month voted to keep its main interest rate at 0.75 percent, deciding against a cut despite slashing its estimates for UK economic growth this year and next, as the country tackles tough trade negotiations with the European Union following Brexit.
Wednesday’s inflation data “vindicates the Bank of England’s decision to keep interest rates on hold in January,” said Debapratim De, senior economist at Deloitte.
“Further rises would significantly reduce the chances of a rate cut in the near future.”
Nevertheless, January’s inflation surge helped push the pound above $1.30.