6 Mins Ago
Mideast conflict is a ‘recipe for escalation everywhere’: Qatar’s PM
Prime Minister of Qatar Mohammed bin Abdulrahman bin Jassim Al-Thani — then the country’s foreign minister — during a joint press conference with Turkish Foreign Minister Mevlut Cavusoglu on July 14, 2017.
Adem Altan | Afp | Getty Images
The current regional conflict in the Middle East is a “recipe for escalation everywhere” that can affect broader global trade, Qatar’s prime minister said at Davos, Switzerland.
Urging diplomacy over a military resolution, Sheikh Mohammed bin Abdulrahman al Thani advised the international community not to focus “on just small conflicts, we should focus on the main conflict in Gaza. And as soon as that’s defused, I believe everything else will be defused.”
The war between Israel and Palestinian militant group Hamas has spilled over into neighboring countries, with Yemen’s Iran-backed Houthi doggedly attacking commercial ships in the Red Sea in recent weeks — and the U.S. and U.K. responding with strikes at the end of last week. Since then, Iran has launched missiles against targets in Iraq and Syria.
The Qatari prime minister urged that the conflict situation cannot “stay hostage” of elections taking place in key powers this year and their potential ensuing regime changes.
“We need something that, really, will make the resolution mandatory for any party who will come to power,” he said, singling out Washington’s ability to bring Israel and representatives of the Gaza Strip to the table.
“[The] U.S. is playing a key role in this, a central role in this, and we think that they can bring the parties together,” al-Thani said.
Qatar has itself played a pivotal role in mediating between Israel and Hamas.
— Ruxandra Iordache
30 Mins Ago
5G networks are still in their early stages, Ericsson CEO says
The telecommunications sector is still in the “very, very, very early” stages of developing 5G mobile networks, Ericsson CEO Börje Ekholm told CNBC.
“I hear a lot of [people] talking we are at the end of the 5G cycle, I would say much more we are in the early phases of 5G,” he said, noting that a next-phase 6G mobile network will likely represent “more of an evolution of 5G” and is unlikely to enter commercial development before 2030.
Ericsson gained ground late last year, after AT&T selected it as its partner in a $14 billion five-year deal to build a telecom network that will cover 70% of the U.S. telecommunications provider’s network traffic in the U.S. by late 2026.
“The deal with AT&T, what that actually means, and it means they are on a journey to create a fully open, fully programmable network in a few years’ time. So transforming from where they are today to that type of world,” Ekholm told CNBC.
— Ruxandra Iordache
42 Mins Ago
Ukraine’s Zelenskyy meets JPMorgan executives, other major investors in Davos
Jamie Dimon, chief executive officer of JPMorgan Chase & Co., left, shakes hands with Volodymyr Zelenskiy, Ukraine’s president, center, on the opening day of the World Economic Forum (WEF) in Davos, Switzerland, on Tuesday, Jan. 16, 2024. The annual Davos gathering of political leaders, top executives and celebrities runs from January 15 to 19. Photographer: Sridhar Natarajan/Bloomberg via Getty Images
Bloomberg | Bloomberg | Getty Images
Ukrainian President Volodymyr Zelenskyy met with JPMorgan’s management and other international investors in Davos Tuesday.
“It is important for us to attract private capital to the reconstruction of Ukraine. We hope that JPMorgan will help attract a large number of global investors and corporations to the Ukrainian economy,” Zelenskyy said on Telegram.
Ukraine’s presidential office released a statement saying that the president had “met with the largest financial funds in the world” Tuesday.
The meeting was also attended by the chief executive officer of JPMorgan Chase, James Dimon, and other members of the management team, as well as U.S. Special Representative for Economic…
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