Davos 2018: Donald Trump booed over 'fake news' comments as global summit draws to a close - as it happened

Speaking briefly with reporters this morning, Donald Trump claimed the WEF had a "crowd like they've never had before" in his first year of attendance.

He predicted his address later today would be "very well received". He said he will note that the US is "doing fantastically well - better than we've done in decades." 

The US President is expected to tout recent tax cuts and efforts to slash regulations.

Mr Trump's claims about crowd sizes have a chequered history. His first press secretary, Sean Spicer, had a difficult first day when he was forced to defend the President's assertion a year ago that his inauguration crowd was the biggest ever.

Photographs showed that, while large, the gathering was not as great as that at Barack Obama's first inauguration in 2009.

Additional reporting by AP

A little more here from Brad Smith of Microsoft.

US President Donald Trump meets President Paul Kagame of Rwanda during the World Economic Forum annual meeting in Davos (REUTERS/Carlos Barria) 

Mr Trump is attempting to repair his relationship with the African Union (AU) in the wake of his reported "s***hole countries" comments.

He met with Rwandan president Paul Kagame who is beginning a one-year term as the body's leader. The AU had said it was "frankly alarmed" by the alleged comments.

Mr Trump has denied using the term at a bipartisan immigration meeting earlier this month, but admitted the gathering was "tough".

Mr Kagame said the pair had "good discussions" on economic and trade issues, and that the African Union was "looking forward to working with the United States."

Mr Kagame won a third term in office last summer, winning more than 98 per cent of the vote in an election he had called a "formality".

It handed him another seven years in charge of the country he has led since 2000. After recovering from the 1994 genocide, Rwanda has been praised for its economic performance but criticised for its silencing of opponents.

Here is more on Mark Carney's comments about the UK economy...

...and a piece of analysis from our economics editor Ben Chu on what Mr Carney has said:

The Bank of England’s Governor told the BBC in Davos this morning that: “The [UK] economy is about a percentage point less in size than we expected just before the vote. By the end of the year probably two percentage points lower.”

Pressed to put a cash figure on that cost he was vague. “What it works out to is tens of billions of pounds lower economic activity,” he offered. But others can do the math. 

The size of the UK economy is roughly £2 trillion. So a 1 per cent GDP loss equates to around £20bn and a 2 per cent loss £40bn. 

If we wanted to translate that into a weekly loss figure – a calculation that prominent Brexiteers favoured during the referendum – it would be a £384m a week loss in 2017 and £769m a week by the end of this year.

However, the Governor also gave a strong hint that the Bank will be revising up its GDP forecasts in its February Inflation Report, saying: “We at the Bank of England see some potential for a bit of a pick-up".

Downing Street has been forced to rebuke Philip Hammond after comments he made at Davos.

The Chancellor enraged supporters of hard Brexit by backing only "very modest changes" to the UK's trading rules with the EU.

He later clarified that leaving the customs union and single market "clearly represents change".

Number 10 initially refused to criticise Mr Hammond's comments, but eventually did so amid anger among Eurosceptic MPs – one of whom told the Weybridge MP to "put a sock in it".

“While we want a deep and special economic partnership with the EU after we leave, these could not be described as very modest changes,” a source said.

Donald Trump says he believes leading Republicans are willing to grant citizenship to so-called "dreamers" - people who were brought to the US as children.

His comments at Davos come after the White House presented an immigration reform plan to Congress that would include a pathway to citizenship for as many as 1.8 million dreamers, in exchange for a dramatic increase in restrictions for immigration in the future and $25bn (£175bn) to fund Mr Trump's long-promised border wall.

US President Donald Trump holds a copy of Swiss newspaper Blick as he arrives at the Congress Centre on the last day of the 48th annual meeting of the World Economic Forum. The meeting brings together entrepreneurs, scientists, chief executive and political leaders in Davos from 23 to 26 January (EPA/LAURENT GILLIERON) 

The Labour Shadow Chancellor, John McDonnell, has slammed what he describes as “a sense of complacency” among his fellow Davos attendees, warning "there is an anger building" around economic alienation.

"There’s almost a sense of euphoria [here in Davos] – I think it’s extraordinary – I think there’s a sense of complacency," he said, speaking on a panel.

"Out there – beyond the Davos compound I think many people feel the markets have been rigged against them, not for them.

"I come with a warning. When people are in the depths of a recession they focus on survival.

"When they’re told we’re coming out of that recession, growth is returning, and they don’t feel they’re participating in the benefits of that growth, that’s when people become really alienated and angry. I just warn the Davos establishment, there’s an anger building out there.

"People have had 10 years of austerity. And then they look and there’s evidence from the Paradise Papers, the Panama Papers, that the super-rich are avoiding their taxes on an industrial scale. That breeds alienation."

In a discussion about the "secrets to a long and happy life", there is good news for residents of Singapore.