By Tony Elumelu of Heirs Holdings

This week, world leaders from the public and private sectors, civil society and academia are gathered at Davos to discuss a “new global context” – the theme of the World Economic Forum’s 2015 annual meeting. In this new context, the WEF fears that profound transformations – social, economic, political and technological – are hastening the end of “economic integration and international partnership”. Read more

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* Euro falls to fresh 11-year lows | European stocks also open higher a day after the ECB unleashes QE

* Brazil minister warns of austerity | Joaquim Levy says cuts need to be made to get government finances in order Read more

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* King Abdullah dies and Salman ascends | Continuity assured as Crown Prince succeeds brother to the throne

* Oil drop ‘disastrous’ for anti-Isis fight | West offers military aid at UK talks to help Iraq combat jihadis and budget crisis Read more

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* Stocks supported by ECB QE optimism | Gold and bond prices fall as haven demand wanes

* Tensions build ahead of ECB launch | French finance minister expresses frustration at Germany Read more

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* Brazil benchmark rate at three-year high | Central bank’s move comes as government struggles to rebuild trust in stagnant economy

* Ukraine seeks larger IMF bailout deal | Country to launch consultations with sovereign bond holders as it hints at debt restructuring Read more

Shortages in Venezuela are leading to unrest and worrying bond markets. Russ Dallen, head of Caracas Capital Markets, explains that policy failures have reduced production capacity and the country cannot afford to import or pay its debts.

** FT News **

* Turkey cuts benchmark rate by 50 points | Move seen as concession to president Recep Tayyip Erdogan

* Gold rises to $1,300 on haven demand | Market expects ECB package of bond-buying to lower yields Read more

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* ‘Leviathan’ polarises Russians | Award-winning film portraying a man’s plight against the state sparks debate

* Argentines protest over Nisman’s death | Questions remain over ‘suicide’ of prosecutor at peak of career Read more

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* Dalian Wanda to take Atlético Madrid stake | Chinese billionaire’s move could pave way for investment including reviving Eurovegas project

* IMF cuts forecasts for global growth | Eurozone weakness to act as brake on UK economy despite low oil prices Read more

** FT News **

* IMF cuts forecasts for global growth | Cheap oil not enough to dispel gloom over economic prospects

* China GDP growth lowest in 24 years | Annual expansion slips to 7.4% as slowdown continues, putting growth model under further pressure Read more

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* China stocks hit by margin lending curbs | Shanghai Composite falls by 7.7% after top brokerages banned from opening margin trading accounts

* Eurozone QE is on way — with conditions | ECB expected to force national central banks to take on losses for their national debt Read more

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* Seven million flock to hear Pope in Manila | Crowds shrug off rain to see Pope Francis on his Philippines trip dedicated to the poor

* China margin lending curbs slam stocks | Market slides 6% after top three brokerages banned from opening new margin trading accounts Read more

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* China funds bring Chaos to metals markets | Until a few days ago, only copper market cognoscenti had heard of Shanghai Chaos

* The risks of deflation in China | Or the risk of “lethal damage” if you’re into that sort of thing. Read more

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* India rate cut launches monetary easing | RBI action at unscheduled meeting prompts jump in local stocks

* Swiss central bank roils markets | Franc, gold surge and equities slump as traders blindsided Read more

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* Malaysian bank merger plan collapses | A plan to combine three Malaysian banks to create one of Southeast Asia’s biggest financial groups has been scrapped

* India spurns Gilead over hepatitis C patent | India’s patent controller has rejected a patent application from Gilead Sciences for a key compound for its blockbuster hepatitis C drug Read more

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* Copper slumps on Chinese selling | Price hits 5½-year low after sell-off in Shanghai

* HK protests dent Burberry sales | Luxury goods group says underlying retail sales rose 8% in three months to end of December Read more

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* Copper price fall feeds Asia risk aversion | Sliding prices of oil and copper contribute to sell-off in equity markets

* Change is afoot for Asia’s family empires | Investors are betting on which of the other conglomerates will follow Li Ka-shing’s lead Read more

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* Oil rout takes Brent to near 6-year low | UAE minister says Opec strategy will not change

* China misses trade growth target | Rise of 3.4% falls short of 7.5% goal with GDP data also set to disappoint Read more

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* Russian and Turkish theories fly over Paris | Foreign spy services accused of staging slaughter to defame Islam

* Risk aversion prevails in Asia markets | Stocks retreat and 5-year JGB yield hits zero as oil prices extend decline Read more

** FT News **

* RBS in discussions over retreat from Asia | Royal Bank of Scotland employs about 2,000 staff in the region

* Asia bourses subdued as oil falls further | Fears that sliding oil price reflects slowing global growth Read more