The World Economic Forum (WEF) is a Swiss non-profit foundation that is best known for its annual meeting in Davos, an alpine resort. The meeting brings together 2,500 business leaders, politicians, intellectuals and journalists to discuss the issues of the day. The gathering is often simply termed “Davos”, a reference to its venue.

A general view of Davos ahead of the 2016 meeting of the World Economic Forum (WEF) in Davos, Switzerland. Photo: REUTERS

HNA’s chief executive to skip Davos amid memo urging for austerity

The chief executive officer of HNA Group Co., the Chinese conglomerate that’s under scrutiny because of its debt-fuelled acquisition spree and ballooning financing costs, has cancelled plans to attend next week’s World Economic Forum’s annual meeting, people familiar with the matter said.