WEF 2014: Swiss banks devise new 'cash' strategies, including Bitcoins, for rich clients from India, others

The 44th World Economic Forum (WEF) annual meeting at Davos, Switzerlandfrom January 22 to 25, 2014.

The event sets the key priorities and challenges for the world to tackle in 2014.

• Theme: ‘The Reshaping of the World: Consequences for Society, Politics and Business’.
• Objective: To develop the insights, initiatives and actions necessary to respond to current and emerging challenges.
• Approx 40 heads of state or government among more than 2,500 global leaders from over 100 countries are attending the WEF viz. UK,Australia, Japan, Iran, India, Israel, Brazil, Italy, Mauritius, Republic of Korea , etc.
• From India a 125-member delegation including senior ministers and top corporate leaders are attending the meeting.
• During the summit, in addition to economic issues and hardcore business talks, problems in Syria, Iran’s possible return to global diplomatic tables, future of euro zone are expected to hog the limelight.
• The Swiss bank has put up innovative ideas to attract rich clients from India and other countries by providing services like ‘cash courier’ as well as by offering large metal vaults to store currency notes, gold, artworks and other valuables. Also, on the platter is advice to put money in virtual currencies, especially in the wake of Bitcoin ATMs becoming operational in Zurich.

The World Economic Forum is an independent international organization committed to improving the state of the world by engaging business, political, academic and other leaders of society to shape global, regional and industry agendas.