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Mr Chan attended a breakfast reception hosted by virtual asset enterprise Animoca Brands, headquartered in Hong Kong, yesterday (January 20). Speaking at the meeting, Mr Chan said that Hong Kong adopts a proactive yet prudent approach to the development of digital assets guided by the principle of “same activity, same risk, same regulation” to promote responsible and sustainable market development. Since 2023, Hong Kong has issued licences to 11 virtual asset trading platforms, and a licensing regime for stablecoins is expected to be launched later this year. The Financial Secretary also noted the HKSAR Government’s leadership role in promoting tokenisation, including the issuance of three batches of tokenised green bonds amounting to around US$2.1 billion.

Mr Chan also engaged with a number of officials from different economies and regional organisations attending the WEF Annual Meeting, including Deputy Prime Minister and the Minister of Finance of Thailand, Mr Ekniti Nitithanprapas; the Secretary-General of the Cooperation Council for the Arab States of the Gulf, Mr Jasem Mohamed Albudaiwi; the Minister of Investment and Foreign Trade of Egypt, Mr Hassan El Khatib; and the State Secretary for International Finance at the Federal Department of Finance of Switzerland, Ms Daniela Stoffel. They exchanged views on the global political and economic landscape and issues of mutual concern, and explored opportunities to strengthen collaboration in areas such as trade, finance, industry development and digital transformation.

During a meeting with the Director-General of the World Trade Organization (WTO), Dr Ngozi Okonjo-Iweala, Mr Chan reiterated that Hong Kong, China firmly supports free trade and multilateralism, and expressed support for the WTO’s efforts to pursue reforms in response to current global challenges, with a view to enhancing its agility in addressing emerging issues in international trade.

On arriving Davos (January 19), Mr Chan began his visit programme by meeting with the Minister of Economy of the Sultanate of Oman, H.E. Dr Said Mohammed Al-Saqri. During the meeting, the two sides discussed ways to deepen mutually beneficial cooperation in areas such as finance, trade, green transformation and industrial development.

Mr Chan said that Hong Kong’s advantages as a “super connector” could support Oman’s transitioning from an oil-driven growth model towards a more diversified economic structure. He said that Hong Kong could facilitate Chinese Mainland and Hong Kong enterprises to invest in Oman to support its infrastructure and industrial development. At the same time, Hong Kong’s status as an international financial centre in Asia could provide Omani enterprises with an ideal platform for fundraising and financing, as well as offshore Renminbi investment and risk management products.

Mr Chan will continue his programme in Davos, including participating at the 2026 Davos-Caixin CEO Luncheon and the “How to Finance Decarbonization?” session of the WEF Annual Meeting, before returning to Hong Kong on January 24 morning.

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UAE President Sheikh Mohamed bin Zayed Al Nahyan arrived in New Delhi on a working visit, marking another step in the steady expansion of political, economic and strategic ties between Abu Dhabi and New Delhi. He was received at the Palam Air Base by Prime Minister of India Narendra Modi, accompanied by senior members of the Union Cabinet and officials from the external affairs establishment, underscoring the importance both sides attach to the engagement.

The visit places renewed focus on deepening UAE–India partnership at a time when bilateral cooperation spans trade, energy security, technology, defence and people-to-people exchanges. Officials said discussions during the visit would review progress under existing agreements while identifying new areas for collaboration aligned with long-term economic and geopolitical priorities.

The UAE and India have built a close relationship over the past decade, anchored by high-level political engagement and sustained institutional cooperation. The elevation of ties to a Comprehensive Strategic Partnership has provided a framework for collaboration across sectors, with regular leader-level interactions helping to maintain momentum. Sheikh Mohamed and Prime Minister Modi have met frequently on the margins of multilateral forums and through bilateral visits, creating a rapport that has translated into concrete outcomes.

Trade and investment remain central to the agenda. Bilateral non-oil trade has expanded significantly following the implementation of the Comprehensive Economic Partnership Agreement, which reduced tariffs, simplified customs procedures and opened services markets. Officials on both sides view the agreement as a catalyst for further growth, particularly in manufacturing, logistics, food security and digital services. The UAE has also emerged as a major investor, with sovereign and private capital flowing into infrastructure, renewable energy, ports and technology ventures.

Energy cooperation continues to be a pillar of the relationship. The UAE is a key supplier of crude oil and liquefied natural gas, while joint investments in strategic petroleum reserves and downstream assets have added depth to the partnership. As both countries pursue energy transition goals, collaboration has widened to include renewables, green hydrogen and climate technology, reflecting shared commitments to sustainability and diversification.

Defence and security cooperation has gained prominence amid evolving regional and global challenges. Regular joint exercises, intelligence exchanges and defence industrial cooperation have strengthened interoperability and trust. Counter-terrorism, maritime security and cyber resilience are areas where officials see scope for closer coordination, particularly given the shared interest in stable sea lanes and secure digital infrastructure.

Technology and innovation feature prominently in the discussions. The UAE’s push to position itself as a hub for advanced technologies aligns with New Delhi’s focus on digital public infrastructure, fintech and start-up ecosystems. Partnerships between research institutions, technology firms and start-ups have expanded, supported by policy initiatives and investment platforms designed to facilitate cross-border collaboration.

The large expatriate community also shapes the relationship. Millions of people from India live and work in the UAE, contributing to its economy and cultural diversity, while remittances and professional exchanges strengthen social and economic links. During past engagements, leaders have highlighted the role of this community as a bridge between the two nations, with initiatives aimed at skills development, worker welfare and cultural exchange.

On the multilateral front, both countries coordinate positions on regional stability, economic governance and climate action. Cooperation within forums such as the G20, where the UAE has participated as a guest under New Delhi’s presidency, has reinforced alignment on development priorities, debt relief for vulnerable economies and sustainable growth.

Officials familiar with the visit said meetings would assess progress on commitments made during earlier engagements and set timelines for new initiatives. Agreements and memoranda of understanding under consideration span sectors including education, healthcare, space cooperation and financial services, reflecting the breadth of the partnership.

By Nitya Chakraborty The annual summit of World Economic Forum began in the Alpine hills of Davos in Switzerland on January 19 with the European leaders and the businessmen rattled over the confrontationist approach taken by the U.S. President Donald Trump on Greenland annexation. After imposing 10 per cent tariff on the EU countries taking […]

The article Davos 2026 Delegates Are Panicky As Trump Is Set To Explode His Policy Bomb On January 21 appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

Distinguished guests attending the event included: Zhang Tong, Senior Consultant of the China International Cultural Communication Foundation and former Member of the Party Leadership Group of the National Audit Office; Chen Zhiming, former President of the Air Force News; Yang Xiaoyang, Chairman of the China National Society for the Promotion of Arts and Culture; Shi Yuhui, Secretary of the Party Leadership Group and Director of the Fujian Provincial Government Office in Beijing; Xiao Hanhui, Chairman of the CPPCC Quanzhou Municipal Committee; and Pan Zhigang, Chief Economist of the China International Cultural Communication Foundation and Director-General of the Taihu World Cultural Forum (China Government Foreign Affairs Forum). Ambassadors from Albania, Latvia, Bulgaria, Argentina, and Turkey also attended the event.

Elegant swirls of Yongchun incense opened the event, setting the stage for the stunning debut of the “Yongchun Incense Aesthetics Fashion Show,” which ingeniously blended traditional craftsmanship with modern fashion, injecting a rich cultural atmosphere and fashionable vitality into the scene.

Industrial cooperation and concrete project deals formed the core of this promotion. A series of agreements were signed on-site, including a “Cultural Export of Yongchun’s Intangible Heritage” project between the China International Cultural Communication Center and the Yongchun County Government, designed to systematically promote Yongchun’s culture globally. A package of deals under the “China Fragrance Capital · Fashion Yongchun” initiative was also concluded, providing impetus for the traditional incense industry’s shift towards branding and fashion. The distinctive “Yongchun Incense Aesthetics Fashion Show” vividly demonstrated the potential of heritage crafts in modern life by pairing traditional incense-derived accessories with contemporary apparel.

A range of supporting activities accompanied the main event, including the food promotion event “Kui Xing Banquet”, intangible cultural heritage flash mobs, and related special exhibitions, allowing citizens of the capital to experience the cultural charm of Yongchun up close. In the future, Yongchun will further integrate culture with tourism, accelerate the global outreach of its high-quality products and cultural resources, and build itself into a model for Maritime Silk Road cultural exchange where tradition and modernity resonate, and industry and humanities flourish together.

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Germany’s opposition leader Friedrich Merz has suggested that a long-stalled trade agreement between the European Union and India could be clinched by the end of January, injecting momentum into negotiations that Brussels and New Delhi have struggled to close for more than a decade as global supply chains remain under strain from geopolitical frictions.

Speaking at a policy forum, Friedrich Merz said the bloc and India were “closer than many assume” to resolving key differences, adding that the economic case for a deal had sharpened after prolonged disruptions linked to strategic competition between major powers. His comments come as European manufacturers continue to grapple with uneven access to critical inputs following China’s tightening of export controls on minerals vital for electric vehicles, electronics and defence applications.

Negotiations for an EU–India free trade agreement were relaunched in 2022 after an eight-year hiatus, with both sides aiming to expand trade that exceeded €120 billion in goods and services last year. Officials involved in the talks say progress has been made on tariff reductions and rules governing digital trade, though sensitive areas such as agriculture, labour standards and intellectual property remain contentious. Merz’s remarks underscore a growing sense in Berlin and other capitals that the agreement has moved from a strategic aspiration to an economic necessity.

Germany, Europe’s largest economy, has been among the strongest advocates of diversifying trade ties beyond China, particularly after export controls imposed by Beijing on gallium, germanium and graphite created months of bottlenecks for automotive and renewable energy firms. Those controls, introduced amid the broader U. S.–China trade dispute, highlighted vulnerabilities in Europe’s dependence on a narrow set of suppliers for critical raw materials.

Executives in the auto sector say shortages of battery-grade materials last year forced production adjustments and delayed investment decisions. While some supply has since stabilised, industry groups argue that long-term resilience requires deeper partnerships with alternative producers and manufacturing hubs. India, with its expanding industrial base and policy push to attract foreign investment, has emerged as a central pillar of that strategy.

European officials note that the proposed agreement would not only cut tariffs—currently as high as 60 per cent on some vehicles entering India—but also establish clearer rules for public procurement and data flows. For India, the deal promises greater access to the European market for pharmaceuticals, textiles and IT services, while also encouraging technology transfer and skills development.

Trade analysts caution that closing the pact by late January would require political compromises on both sides. European negotiators have pressed for stronger environmental and labour commitments, while Indian counterparts have sought flexibility to protect small farmers and domestic manufacturers. Still, the geopolitical context is shifting calculations. The European Union has accelerated its “open strategic autonomy” agenda, seeking to balance openness with security of supply, and India has signalled willingness to align more closely with Western economies without abandoning its strategic independence.

Merz’s intervention also reflects domestic pressures within Germany, where exporters are seeking new growth markets as demand in China cools. German industry groups have repeatedly urged policymakers to prioritise agreements with fast-growing economies, arguing that delays risk ceding ground to competitors from East Asia and North America.

The broader backdrop includes intensifying scrutiny of China’s role in global supply chains. Beijing has defended its export controls as legitimate measures to safeguard national security and manage resources, but the ripple effects have reinforced calls in Europe for diversification. The European Commission has already launched initiatives to secure access to lithium, cobalt and rare earths through partnerships in Africa, Latin America and Asia, with India seen as both a market and a manufacturing partner.

Diplomats familiar with the EU–India talks say technical chapters are largely drafted, leaving political decisions to bridge remaining gaps. Any agreement would still need approval from member states and the European Parliament, a process that could extend beyond the negotiating deadline even if a political deal is struck.