What is the full form of WEF
i) WEF: World Economic Forum
WEF stands for World Economic Forum. It is a non-profit foundation of Switzerland. It is located in Cologny, Geneva. It is an independent international organization committed to benefit the world by engaging the business, political, academic and other leaders of society to shape global, regional and industry agendas.
Formerly, it was known as “European Management Forum” which was founded in 1971, later, it has changed its name as “World Economic Forum” in 1987.
ii) WEF: With Effect From
WEF stands for With Effect From. It is used to represent the starting date of something. For example: If you are owner of a restaurant and you want to increase the prices of every item after a specific date due to increasing rates of vegetables and grains. So, you have to put this on a notice like this:
“Due to increasing rates of vegetables and other grains the restaurant would not be able to serve at former rates. So the management has decided to revise their menu and rate card w.e.f 01/01/2016”.