CEO of Thomson Reuters' Markets division Devin Wenig said, "a huge boom went off. The whole ceiling lifted. Everyone was convinced it was a bomb but participants were told that a boiler had exploded. It took a half hour to reassemble the meeting."
The bomb exploded three hours before the Colombian President Juan Manuel Santos was scheduled to speak. Despite the bomb blast he delivered the speech on the scheduled time.
The blast did not affected the main programmes at the World Economic Forum (WEF) Meeting, which was addressed by French President Nicolas Sarkozy and former US President Bill Clinton on Thursday.
Post the blast an investigation team examined the scene. However, officials denied to reveal the details about the motive or about its perpetrator, they said that they have already started an investigation.
A self proclaimed revolutionary perspective group posted a statement on an activist website that it had targeted the luxury Posthotel with a firebomb and said Swiss ministers and representatives of top bank UBS were staying there.
The group said in the statement, "Our fight against the dictatorship of capital is focused on the social alternative to capitalism: communism."
A spokesman for the WEF said that police has conducted two bomb search, after receiving an online threat.