Representatives from state-owned Sberbank and the Alibaba Group have already met this month to discuss the potential project, the newspaper reported, citing an unnamed source.

Any joint venture would see Sberbank control at least a 50 percent stake and provide much of the financial investment, the source said. In return, the Alibaba group would use its existing cross-border infrastructure and delivery systems across Russia neighboring countries.

The venture, which may become one of the largest players in Russian e-commerce, could be worth several billion dollars, Kommersant reported.

The Alibaba Group registered a Russian subsidiary in June 2015, opening its flagship e-commerce site AliExpress to Russian retailers five months later.

The online retail market continues to grow in Russia, with 43 percent of Russians buying from foreign online retailers in the past 12 months, according to research from the Data Insight company in March 2016.

Russian retailers exporting online have also seen their sales almost double over the past year, outstripping domestic e-commerce with sales worth approximately $2 billion.

According to the CEO of Saudi Arabia’s giant state-held oil company, global demand for oil and gas will still grow in the coming decades, so if capital investment drops, it could create “spikes” in prices and hurt the global economy, CNBC reports. Demand is still healthy and oil “will be with us for decades”, CNBC quoted Nasser as telling a Wall Street Journal panel at the Davos forum.

The global oil and gas industry needs to expand and requires more investment, Nasser said.

After two years of significantly lowered capital investment by the industry, a recent report by Wood Mackenzie suggests that “the global investment cycle will show the first signs of growth in 2017, bringing the crushing two-year investment slump to a close”.

WoodMac sees E&P global spend rise with about 3 percent in 2017 to around $450 billion. According to WoodMac’s Malcolm Dickson, ‘’companies will get more bang for their buck,” as internal rates of return jump from 9 to 16 percent, comparing 2014 to 2017.

The chart below from WoodMac shows that the amount of final investment decisions (FID’s) are expected to double in 2017, compared to 2016.

At the WEF, Saudi Aramco’s chief executive noted that renewables would gain some market share in the long run, but renewable energy would not dominate.

“It will take decades for them [renewables] to replace petroleum resources. So what we are doing in Saudi Aramco we are building our capacity in the oil,” according to the manager.

Saudi Arabia currently has oil capacity of 12.5 million bpd, which it continues to build upon, Nasser said.

The Kingdom also plans to double its gas capacity over the next decade, which would enable it to ship more crude oil onto the market, Saudi Aramco’s manager added.

Just yesterday, Saudi Arabia’s Energy Minister Khalid Al-Falih said that his country would begin soliciting bids for a “massive” renewable energy push, with spending reaching as high as $50 billion. The move is intended to source at least 10 GW of electricity from solar and wind by 2023, a rapid escalation of renewable energy installations for the Kingdom in order to conserve oil for exports.

Tibet consumed 4.18 billion kilowatt hours of electricity in 2016, up 21.4 percent, according to an industry report.

The region achieved a gross domestic product of 115 billion yuan ($17 billion) in 2016, 11.5 percent up on 2015, according to the local annual legislative meeting held last week. The rate is nearly 5 percentage points higher than the national average.

Two electricity transmission lines, one from Qinghai and the other from Sichuan, were put into operation in 2012 and 2014.

With the power grid now covering nearly 80 percent of counties in Tibet, electricity consumption in rural areas has grown.

The region is also replacing coal burning with electricity.

"A total of 142 million kilowatt hours of electricity replaced coal in 2016," said Liu Xiaoming with the State Grid's Tibet Electric Power Co. "The region is expected to replace 177,100 tons of coal with one billion kilowatt hours of electricity."

State-owned Gecamines which owns 20% of the copper mine, strongly opposed the deal and in October opened an arbitration case in Paris. Gecamines was particularly unhappy about Lundin’s right of first refusal to take up a majority stake and its subsequent decision to sell its 24% interest in Tenke to a Chinese private equity firm for $1.14 billion over Gecamines' objections.

According to a report by Bloomberg, Gecamines would receive an undisclosed amount in compensation:

Gecamines has opposed similar transactions in the past. In 2012, it almost stopped the acquisition of Anvil Mining NL by China’s Minmetals Resources Ltd. The deal proceeded after they reached an agreement that included Anvil paying $55 million to Gecamines.
The Lundin transaction came after joint-venture partner Freeport-McMoRan (NYSE:FCX) signed a deal to sell its 56% holding in the project to China Molybdenum (CMOC) for up to $2.65 billion back in May.

Tenke, which cost $3 billion to build, holds one of the world’s largest known copper resources. The high-grade mine in 2015 produced 203,965 tonnes of the red metal and just over 16,000 tonnes of cobalt.

Even in its current form Tenke is a prized asset notwithstanding its location in one of the more difficult mining jurisdictions in the world. But a contemplated expansion of the mine would likely boost copper cathode production capacity towards 500,000 tonnes per year.

Japan's Foreign Ministry says over a thousand Japanese companies had their regional headquarters in Britain as of October 2015. Only Germany had more in Europe.
Many Japanese firms regard Britain as a business hub for the region. The country's official language is English and its environment is seen as business-friendly.

Many Japanese automakers including Nissan, Toyota, and Honda operate factories in Britain.

Nissan officials announced last October they would continue production there after the country leaves the EU. They said the UK government's support and assurances encouraged their decision.

But Nissan officials might now review their production system. That's because Britain leaving the EU-single market could result in tariffs being imposed on vehicles exported from the UK to EU member nations.

The automaker plans to examine how Britain's complete withdrawal will affect its business.

Japanese pharmaceutical firms may also reconsider their strategies. The European Medicines Agency tests drug products and is based in London. The body needs to approve products before they can be sold in EU countries. But experts say the EMA may re-locate after Brexit.

The head of a Japanese association of drug makers has expressed concern over how Britain's decision could affect Japan's medical industry.

Yoshihiko Hatanaka, the president of the Japan Pharmaceutical Manufacturers Association, says separate approval systems between Britain and the EU will make a significant impact on the markets.

Many Japanese financial firms that operate in Europe may also be affected. That's because they use the EU's "single passport" system. It allows companies legally established in one member country to provide services throughout the bloc.

Sumitomo Mitsui Banking Corporation and Daiwa Securities obtained a single passport in Britain. But their passports could become invalid after Brexit.

Analysts say they might now apply for a single passport again in the EU by leaving London and setting up a business base elsewhere.

Within the framework of the forum, President Ts.Elbegdorj is to participate in sessions, meetings and discussions regarding issues on priorities of next US administration, energy priorities of the region, silk road, responsible leadership in the multi-polar world and mining and nature protection policy, expressing position of Mongolia and sharing his views.

Mongolian participation in the forum at high level is considered highly significant to promote the country, give its contribution to resolve global problems and challenges, introduce the current state of economic development of the country and attract foreign investment.

The World Economic Forum Annual Meeting in Davos-Klosters is considered a creative force for engaging the world’s top leaders in collaborative activities to shape the global, regional and industry agendas at the beginning of each year.

This year, the meeting will focus on four key leadership challenges for 2017: strengthening global collaboration, revitalizing economic growth, reforming capitalism and preparing for the Fourth Industrial Revolution – a huge leap powered by the digital age, which is transforming the way we live and work. It will do this through a programme where more than half of the 400 sessions focus on social inclusion and development.