Gideon Rachman

The recent Sri Lankan presidential election was remarkable for several reasons.

First, Mahinda Rajapaksa, the over-confident incumbent, lost the vote, despite a booming economy. Second, Mr Rajapaksa – who was often accused of authoritarian and dynastic tendencies – seems to have accepted the voters’ verdict without a fight. His best riposte to those who accused him of not being a democrat may turn out to be the way in which he accepted unfavourable election results, and allowed his rival, Maithripala Sinisena, to assume power. The change of government in Sri Lanka also has a wider geopolitical significance. Read more

FABRICE COFFRINI/AFP/Getty Images

By Esther Bintliff in London, with contributions from FT writers and editors in Davos.

All times GMT.

18.30: That’s all from us for now folks! But you can stay up to date with all the FT’s coverage of the World Economic Forum 2012 at www.ft.com/davos.  For now, we’ll leave you with a quick recap of some of today’s top news and views:

  • Christine Lagarde, head of the IMF, put it bluntly when she got out her handbag and told a WEF panel: “I’m here with my little bag to collect a bit of money” (see the 11.23 post)
  • At a global economy session, Chris Giles reported that the debate was “more sober than the general mood in Davos of increasing optimism”, with Donald Tsang, chief executive of Hong Kong, saying: “I have never been as scared as now” (see 11.45)
  • Yingluck Shinawatra, Thailand’s first female PM, was studiously vague when asked by Gideon Rachman whether and when her brother Thaksin would be allowed to return to Thailand (see 12.30)
  • In his round-up on Davos 2012, Martin Wolf noted that Mario Draghi has emerged as the hero of the hour (see 13.15), a point confirmed by Lionel Barber, the FT’s editor, in his video interview (15.20)
  • “Doha is dead. Long live the multilateral trading system” – Chris Giles on the message the World Trade Organisation wanted to send from Davos on Saturday (see 17.30)

  Read more