Davos

US President Donald Trump will appear on Wednesday with other high-profile government and business leaders at the World Economic Forum in Davos, Switzerland, a day after the elite event produced contentious statements and economic threats arising from tensions between the US and Europe.

Nearly 3,000 high-level participants from 130 countries, plus an untold number of activists and observers, are expected to converge on the annual event scheduled to last through Friday for dialogue, debate and deal-making in the Alpine resort.

Trump's third visit as president comes as US allies worry about his ambition to take over Greenland, while Latin America grapples with his efforts to seize Venezuela's oil.

European Commission President Ursula von der Leyen on Tuesday called Trump's planned new tariffs on eight of its countries over Greenland a “mistake” and questioned Trump's trustworthiness. French President Emmanuel Macron said the EU could retaliate by deploying one of its most powerful economic tools, known colloquially as a trade “bazooka.”

Here is the latest:

Egyptian president applauds progress in Lebanon

Egyptian President Abdel-Fattah el-Sissi applauded the Lebanese government's efforts to stabilise the tiny Mediterranean country, an apparent reference to its efforts to disarm non-state groups, notably Hezbollah.

Speaking in a panel on Tuesday in Davos, the Egyptian leader said Lebanon “finds a way to achieve complete stability.”

El-Sissi also spoke about the latest developments in Syria and called for the inclusion of all Syrian groups in the political process.

Swedish PM says NATO won't be blackmailed over Greenland

Swedish Prime Minister Ulf Kristersson said he “would not speculate” on whether the NATO alliance has shattered beyond repair in the wake of Trump's threats to take over Greenland.

Sweden joined NATO in 2024.

Kristersson, speaking to the Associated Press on the sidelines of Davos, said Europeans are willing to beef up security in Greenland and across the Arctic but “we will not accept being blackmailed.”

World markets appear to settle after a drop from Trump tariff threats

World markets appear to have settled for now following a sharp drop after Trump threatened to impose extra tariffs of 10 per cent, later rising to 25 per cent, on imports from eight European countries.

US futures advanced early Wednesday, and Asian markets were mixed.

European shares opened marginally lower. But the price of gold shot up nearly 2 per cent, surpassing its past records to trade at about USD 4,860 a troy ounce. Precious metals tend to gain in times of global uncertainty since they are viewed as a safe haven from risk.

Egyptian president says Palestinian cause remains a priority

Egyptian President Abdel-Fattah el-Sissi on Wednesday said the Palestinian cause is still “at the forefront of priorities” in the Middle East.

He told a panel at Davos that resolving the Palestinian cause “is the core of regional stability, and a cornerstone to achieve a just and comprehensive peace.”

The Egyptian leader lauded Trump's efforts to help reach a ceasefire that stopped the Israel-Hamas war in Gaza in October.

El-Sissi also encouraged international investment in his cash-strapped nation.

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The president lauded his government's efforts to overhaul infrastructure in Egypt, which he said was aimed at drawing private sector investments.

“The environment in Egypt is very attractive,” he said during a panel discussion at Davos.