Author: PAGE

Written By Ameya Hadap Specialist, Climate Innovation, World Economic Forum Thibault Villien De Gabiole Lead, Industry Decarbonization – Trucking, World Economic Forum Laia Barbarà Acting Head, Climate Strategy, World Economic Forum This article is part of: Centre for Nature and Climate With the growing demand for greener alternatives, the competition for renewable resources has intensified. We must address fair distribution, supply chain solutions, technological advancements, policies and the importance of investment and partnerships to accelerate the allocation of renewable resources by 2030. Industry specialization and equitable allocation provide a blueprint for mitigating resource competition, while the imperative of…

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Written By Will Brownlie, UK Centre for Ecology & Hydrology; Mark Maslin, UCL, and Peter Alexander, The University of Edinburgh Soils around the world are running low on potassium, a key nutrient needed for plants to grow. This ultimately means we may not be able to grow enough food for everyone. But it’s not too late: we have just published research identifying six things we must do to safeguard potassium supplies and food production. Potassium is required for plant growth alongside nitrogen and phosphorus (known as kalium in latin, potassium is the K in NPK fertilisers). While nitrogen and phosphorus…

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Written By Oguz A. Acar Professor of Marketing and Innovation, King’s College London This article is part of: Centre for the Fourth Industrial Revolution Generative AI tools are already altering how educators and students interact. And while there is much talk of risks, there are also many opportunities to reimagine how we educate in the age of Generative AI. From helping teachers focus on teaching to allowing students to work on far more ambitious projects, AI has the potential to be a great force for good in education. Generative AI tools have astonished the academic world. They have thrived in Harvard’s freshman…

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Written By Anna Sarnek Director of Strategic Alliances, Valence Security The number of data compromises linked to third-party integrations surged in 2023, significantly impacting organizations due to the interconnected nature of modern SaaS (software as a service) environments. Organizations must adopt comprehensive SaaS security strategies, including strong identity security, configuration management and integration auditing, to mitigate vulnerabilities and data breaches. Integration of AI and SaaS application adoption means robust third-party risk management practices have become paramount for securing critical business data and applications. The year 2023 ended as another record breaker for the number of data compromises organizations face. In the…

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Written By Paige Bennett Writer, EcoWatch This article is part of: Centre for Nature and Climate A new scientific study has revealed that the chemicals in air pollution may be disrupting plant reproduction Nitrate radicals (NO3) and ozone pollutants, common byproducts of car exhaust and burning fossil fuels, make it harder for pollinators, like moths, to find flowering plants. The authors warn that pollinators are critical for plant health, food systems and food security. A new study has revealed that the chemicals in air pollution may be disrupting plant reproduction, as the pollutants mask the scent of flowering plants and make…

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Written By Giulia Carbone Director, Natural Climate Solutions Alliance, World Business Council for Sustainable Development (WBCSD) This article is part of: Centre for Nature and Climate Natural Climate Solutions (NCS) combat climate change, biodiversity loss, and inequity. Community co-ownership ensures long-term success, seen in projects aimed at protecting some of the world’s most vulnerable forests. Scaling up NCS is vital to reaching global climate and nature goals, with trust and transparency being key elements for success. As the world grapples with climate change, biodiversity loss and inequity, natural climate solutions (NCS) projects are a powerful way to create positive environmental, economic…

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Written By Naoko Tochibayashi Communications Lead, Japan, World Economic Forum Naoko Kutty Writer, Forum Agenda This article is part of: Centre for the Fourth Industrial Revolution New overtime regulations for truck drivers come into force this year in Japan. The so-called 2024 problem is forcing the logistics industry to reassess its practices. Public-private efforts can foster sustainable growth in the logistics industry. As the economy continues its recovery from the COVID-19 pandemic, various challenges are coming to light. Among them, the “2024 problem” looming over Japan’s logistics industry stands out as an issue requiring urgent attention. In Japan’s logistics industry,…

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Ukrainian forces withdraw from Avdiivka: Russian troops were about to encircle the town Published in AlJazeera, on Feb 20th, 2024, Shmyhal says delays in providing long-range artillery, missile equipment is ‘main danger for us on the battlefield’. Ukraine needs long-range missiles and other ammunition to repel Russian troops, Prime Minister Denys Shmyhal has said, as the country nears its third year of war amid battle losses and shrinking foreign aid. Speaking during a visit to Japan on Tuesday, Shmyhal said Ukraine has modern equipment and trained soldiers and is fighting at NATO standards, but the country needs more long-range missiles…

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The Chinese city of Xiamen seen from Taiwan’s Kinmen islands Published in Saudi Gazette, on Feb 19th, 2024, HONG KONG — China is increasing patrols in waters near a group of frontline islands controlled by Taiwan, as tensions rise after two Chinese fishermen drowned during a pursuit by Taiwan’s coast guard who accused them of trespassing. China’s coast guard said Sunday its Fujian division will strengthen maritime law enforcement and carry out “regular patrols” in waters around the Chinese city of Xiamen and Taiwan’s Kinmen islands, which lie just miles apart. The move is aimed at “further maintaining the order…

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Published in The Nation, on Feb 20th, 2024, Anadolu The Palestinian resistance group Hamas stressed Monday that it would only accept a prisoner swap deal with Israel if it agreed to a full cease-fire and the entry of relief aid into the Gaza Strip. “The return of (Israeli) occupation prisoners has three prices. The first is the relief of our people and their return to a normal life. The second is ending the aggression, and the third is a real prisoner swap deal that frees our 10,000 prisoners in Israeli jails,” Khalil al-Hayya, a member of the group’s political bureau,…

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Mission ‘Aspides’ will aim to preserve freedom of navigation in the Red Sea and the Gulf of Aden. Published in Saudi Gazette, on Feb 20th, 2024, BRUSSELS — The European Union on Monday formally launched a bespoke naval mission to protect commercial vessels in the Red Sea from attacks by Houthi rebels. Mission ‘Aspides’ — Greek for shield — will aim to preserve freedom of navigation in the Red Sea and the Gulf of Aden, a region plagued with instability since October when Houthi rebels began targeting vessels navigating the waterway with a barrage of drone and rocket attacks. The…

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UN experts are raising concerns over allegations of human rights violations against Palestinian women and girls [Mohammed Salem/Reuters] Published in AlJazeera, on Feb 19th, 2024, United Nations experts are expressing alarm over reports of alleged human rights violations in Gaza and the West Bank. UN experts have expressed alarm over allegations of human rights violations against Palestinian women and girls in Gaza and the occupied West Bank since Israel launched its war on Gaza on October 7. The UN Office of the High Commissioner for Human Rights (OHCHR) said in a statement on Monday that it had received information that…

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The US Arleigh Burke-class guided-missile destroyer USS Carney defeats a combination of Houthi missiles and unmanned aerial vehicles in the Red Sea [Aaron Lau/US Navy/AFP] Published in AlJazeera, on Feb 18th, 2024, US says it hit three mobile anti-ship cruise missiles, one unmanned underwater vessel and one unmanned surface vessel. The United States has conducted five strikes in areas of Yemen controlled by Houthi rebels, US Central Command (CENTCOM) has said. It said it struck three mobile anti-ship cruise missiles, one unmanned surface vessel, and one unmanned underwater vessel (UUV) on Saturday. end of list “This is the first observed…

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Volkswagen’s MEB plant in Hefei, Anhui, operates at full capacity, producing NEVs for Europe. With 1,000 robots and advanced industrial CT for quality analysis, the facility epitomizes cutting-edge manufacturing. Volkswagen’s $4.22 billion investment in Hefei spans R&D to sales. China’s drive for industrial modernisation attracts global giants like Moderna and BMW. In 2023, China’s FDI exceeded 1.13 trillion yuan, with biomedicine and automobile manufacturing leading the charge. The nation’s economic planner unveils $15 billion flagship projects, emphasising high-tech sectors. Foreign firms, including Siemens and Volkswagen, expand R&D centres in China, tapping into local innovation. Volkswagen Anhui’s CEO emphasises the ‘in…

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Saudi Arabia’s ascendancy in electronic government services is underscored by its top ranking in the Middle East and North Africa, as affirmed by the UN’s Government Electronic and Mobile Services Maturity Index (GEMS). With an overall maturity score of 93 per cent and significant advancements across all indicators, the Kingdom demonstrates a steadfast commitment to digital transformation. Ahmed Al-Suwaiyan, governor of the Digital Government Authority, attributes this achievement to the concerted efforts of government agencies and strong leadership support. This recognition aligns seamlessly with the objectives of Vision 2030, particularly in fostering a digital society and optimizing new technologies to…

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The memorandum of understanding (MoU) between Green Corporate Initiative and Organic Pakistan signifies a crucial step towards making Pakistan self-sufficient in food production. The agreement signed on Monday (February 19) aims to revolutionise agriculture practices in the country, emphasizing sustainability and environmental conservation. By transitioning from food import dependency to self-sufficiency and even becoming a food-exporting nation, Pakistan aims to strengthen its agricultural sector and elevate the status of farmers in economic development. The collaboration between Green Corporate Initiative and Organic Pakistan seeks to leverage strategic partnerships, knowledge exchange, and innovative initiatives to foster resilience, sustainability, and inclusivity within the…

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The rupee on Monday (February 19) gained 01 paisa against the US dollar in the interbank trading and closed at Rs 279.35 against the previous day’s closing of Rs 279.36. However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs 279.3 and Rs 282.2, respectively. The price of the euro increased by 61 paisa to close at Rs 301.27 against the last day’s closing of Rs 300.66, according to the State Bank of Pakistan (SBP). The Japanese yen gained 01 paisa to close at Rs 1.86,…

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The surge in gold prices by Rs 1,100 in Pakistan on February 19, 2024, reflects a broader global trend driven by geopolitical tensions, economic uncertainties, and increased demand from institutional investors. The per tola price of 24 karat gold increased by Rs 1,100 and was sold at Rs 214,300. The price of 10 grams of 24 karat gold also increased by Rs 943 to Rs 183,728 whereas the prices of 10 gram 22 karat gold went up to Rs 168,417 from Rs 167,553, the All Sindh Sarafa Jewellers Association reported. The price of per tola and ten gram silver remained…

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The Pakistan Stock Exchange (PSX) saw a bullish trend on Monday, with the 100-index gaining 586.79 points, marking a positive change of 0.98 percent and closing at 60,459.75 points compared to the previous trading day’s 59,872.96 points. During the trading session, a total of 261,799,826 shares worth Rs. 9.907 billion were traded, a decrease from the previous day’s 314,247,768 shares worth Rs. 12.243 billion. Among the 330 companies traded, 170 recorded gains, 139 sustained losses, and the share prices of 21 remained unchanged. The top-trading companies included PIAC(A) with 21,406,500 shares traded at Rs. 11.06 per share, WorldCall Telecom with…

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Published in A Sports, on Feb 19th, 2024, By A Sports LAHORE: The affairs of the Pakistan Cricket Board (PCB) have been transferred from Ministry of Inter Provincial Coordination (IPC) to Cabinet Division, ARY News reported on Monday. According to a notification issued today, the cricketing body will now run directly under the Prime Minister’s Office (PMO) and will no longer be answerable to the Ministry of IPC. Furthermore, the notification stated that the IPC Secretary will not be a member of PCB’s Board of Governors. The development came after Mohsin Naqvi was elected unopposed as Pakistan Cricket Board (PCB) chairman. The…

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by Katharina Buchholz, Lifestyle and habits can have a big effect on our health – and our life expectancy. A recently released study that followed U.S. veterans of the age group 40 to 99 between the years 2011 and 2019 is attempting to show just how much. According to mortality trends collected among 719,147 veterans and lifestyle factors assessed among 276,132, being physically active lowered the risk of death among the sample population the most – by 46 percent – opposite someone with no healthy habits and factors. The study applied the Department of Health’s recommendation of 150 minutes of moderate exercise or 75 minutes of vigorous…

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by Florian Zandt, With improvements in medical care and living standards in many countries around the world, the 20th century saw a dramatic increase in life expectancy at birth. While some of the most significant gains are apparent between 1900 and 1950, apart from the immediate effects of World War II, due to a variety of economic and political developments, even the past 50 years saw a steady uptick in the estimated lifespans of the world’s population. For example, the worldwide average lifespan of a person born in 1971 was 58, while in 2021, this number rose to 71, an increase of…

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by Anna Fleck, Overall, the quality of tap water is pretty good in Europe, with 99 percent of the population in many countries having access to safely managed drinking water (data from 2022). Yet, as data from a Statista Consumer Insights survey reveals, a sizable chunk of respondents questioned in 2023 said they regularly drink bottled water (daily or weekly consumption). This is despite the fact that the plastic waste generated is harmful to the environment, and that bottled water is much more expensive: up to 100 times more expensive than tap water. What’s more, several scientific studies have shown that bottled water is a leading…

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Zong 4G and Batik have signed a formal agreement encompassing GSM Connectivity, Attendance Management Solutions, and Push to Talk devices for their dispersed workforce stationed throughout Pakistan. Batik Clothing is a renowned Pakistani clothing brand with a presence in seven major cities of Pakistan. The brand currently has over 14 outlets in Pakistan and is considered one of the most reputable clothing brands in Pakistan. Zong 4G, Pakistan’s largest telecom service provider has collaborated with the esteemed clothing brand Batik to provide cutting-edge digital solutions to boost the brand’s performance and expand their customer base. Batik Clothing is a renowned…

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by Anna Fleck, In the run up to the annual Munich Security Conference, a survey was carried out in 11 of the world’s major economies to capture a sense of different populations’ thoughts on security risks. Just some of the findings are illustrated below, where we have compiled the primary risk per country, according to an index formed on local perceptions. As this chart shows, questions of extreme weather and climate change in general were of particular concern in several countries: Brazil, Italy, Canada and India. Brazil, which has observed 40+ temperatures in just the past months, saw its index score for extreme weather and forest…

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by Katharina Buchholz, The projected winner of Indonesia’s presidential elections held yesterday is Prabowo Subianto. He is the current defense minister of the third largest democracy in the world but has been criticized for his links to a non-democratic regime in Indonesia’s past, the military dictatorship of Suharto, for which he served as a special forces commander. Subianto has been described as a strongman and a nationalist. He stands accused of human rights abuses, heightening concerns around the state of democratic institutions in the country which started under current president Joko Widodo. As seen in data from the Economist Intelligence Unit and the UN Population Division, all…

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The Pakistan Ambassador to the United Arab Emirates, Faisal Niaz Tirmizi, has assured full cooperation from his Embassy to the Islamabad Chamber of Commerce and Industry (ICCI) for the success of the Business Opportunities Conference (BOC) in Dubai next month This assurance was given during a meeting with the President of ICCI, Ahsan Zafar Bakhtawari. The ambassador lauded ICCI for organising the next edition of its BOC in Dubai in the first week of March 2024, according to a press release issued on Friday (February 16). The Ambassador emphasised the potential for strengthening business relations between Pakistan and the UAE…

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The upcoming Singapore air show is set to showcase China’s first homegrown passenger jet, the COMAC C919, marking its debut outside Chinese territory. This event comes amid a backdrop of increasing regional travel and a rebound in demand, particularly in the aviation sector. However, the industry faces challenges such as supply chain disruptions and macroeconomic uncertainties, with China’s aviation market also grappling with these issues. The C919’s presence at the air show underscores China’s ambition to establish itself as a competitive player in the global aviation market, offering an alternative to established manufacturers like Airbus and Boeing. Despite its limited…

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A view of spectacular fireworks at the opening ceremony of the PSL 9 at Lahore’s Gaddafi Stadium on February 17, 2024. — PSL Published in The News, on Feb 17th, 2024, PSL 9 final will be played at National Stadium in Karachi on March 18 The much-anticipated Pakistan Super League (PSL) season nine began with a star-studded opening ceremony at the Gaddafi Stadium in Lahore on Saturday. Cricket fans in Lahore and all around the world saw spectacular performances by different artists and one of the major attractions was the performances of the singers, Ali Zafar and Aima Baig, of…

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Profitability and credit growth of GCC banks set to remain strong in 2024 Profitability and credit growth will remain strong for most banks in the Gulf Co-operation Council this year, supported by robust credit demand from the non-oil sector and economic diversification programmes across the region, a report has said. The UAE and Saudi banking systems are poised to continue their growth above the rest of the region, S&P Global Ratings said in its GCC Banking Sector Outlook 2024 report. Overall, the credit rating agency expects banks across the GCC to deliver strong return on assets supported by the robust…

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In 2023 clothing exports to China rise by 3pc The amount of clothing that Pakistan exported to China, both for men and women, significantly increased in the past year. Based on available data, the export of men’s and women’s clothing from Pakistan to China increased by 3percent between January to December of 2023, said Ghulam Qadir, Commercial Counsellor at the Pakistani Embassy in Beijing. The strong demand for Pakistani textiles in the Chinese market is reflected in this increase in exports. Pakistani men’s and women’s clothing has been sought after in China due to its quality and competitive prices, he…

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IT Ministry Urges Finance Ministry, SBP to Revive IT Cash Reward Program: The Ministry of Information Technology and Telecommunication has urged the Ministry of Finance and the State Bank of Pakistan (SBP) to secure the necessary funding and devise a robust mechanism for the distribution of IT cash rewards. The IT ministry has written letters to both the Ministry of Finance and the central bank to revive the IT cash reward program that has been on hold since 2021 due to budgetary constraints. With the Ministry of Finance pledging to release the requisite funds and the central bank tasked with…

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MCB posts highest ever profit before tax of Rs. 125.2 billion (+75%) in 2023 The Board of Directors of MCB Bank Limited (MCB) in its meeting under the Chairmanship of Mian Mohammad Mansha, on February 06, 2024, reviewed performance of the Bank and approved the financial statements for the year ended December 31, 2023. The Board of Directors has declared final cash dividend of Rs9.0 per share i.e. 90%, in addition to 210% already paid, bringing the total cash dividend for the year 2023 to 300%. Through focused efforts of the Bank’s management in building no-cost deposits and optimising its…

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Kibor rate is the average interest rate at which term deposits are offered between prime banks in the Pakistani wholesale money market or interbank market. KIBOR as a benchmark, to encourage transparency  and improve management of the market risk undertaken by banks. Kibor Rates In Pakistan TENOR BID OFFER 1 – Week 21.73 22.23 2 – Week 21.75 22.25 1 – Month 21.82 22.32 3 – Month 21.29 21.54 6 – Month 21.19 21.44 9 – Month 20.78 21.28 1 – Year 20.70 21.20 Last Updated on 15th Feb 2024 Source: SBP

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A missile explosion over Ukraine’s capital, February 7, 2024 [Gleb Garanich/Reuters] Published in AlJazeera, on Feb 07th, 2024, Deadly early morning attacks hit Kyiv and other cities, killing at least three civilians. Russia fired cruise and ballistic missiles and Shahed-type drones at targets across Ukraine, killing at least three civilians and injuring more than 10 people, Ukrainian authorities said. Russia targeted at least three big cities, according to the Ukrainian military, which said it intercepted 44 drones and missiles of the 64 that were launched. end of list President Volodymyr Zelenskyy said two people were killed in the capital, Kyiv, and…

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Written By Antonio Gómez-Palacio Partner and chair, DIALOG This article is part of: Centre for Urban Transformation Buildings account for 39% of global energy-related carbon emissions – 11% from materials and construction and 28% from their operations. A UN report says the construction and operation of buildings constitute 36% of global energy use. Given that the life of a building can span many decades and even centuries, we must (re)build smarter. It will not be possible to meet global targets for reducing greenhouse gases if we only pay attention to new buildings. Firstly, more than 70% of buildings that exist today are expected to still be standing…

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by Thomas Hinton In 2024, international visitor numbers in the U.S. are predicted to reach 98% of 2019 levels. While this is certainly cause for celebration on the road to post-pandemic recovery, the U.S. Travel Association warns that a full recovery is still out of reach until 2026, citing lower visitor spending, a strong US dollar, and long visa wait times as hurdles to ongoing growth. But this news is only a small setback for a country where around 80% of tourism revenue comes from domestic tourism and is forecast to generate $100 bn USD in 2024 from this segment alone. You will find…

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Secretary of State Antony Blinken waves as he boards a plane en route to Saudi Arabia as part of his fifth trip to the Middle East since the war between Israel and Hamas in Gaza erupted in October [Mark Schiefelbein/Pool via AP] Published in AlJazeera, on Feb 07th, 2024, The US official arrives as reports suggest fading optimism over efforts to bring the war to a halt. United States Secretary of State Antony Blinken has arrived in Israel as he seeks to seal a truce deal to bring the war in Gaza to a halt. Following meetings the previous day…

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by Katharina Buchholz, According to a ranking recently published by Bloomberg, the Ambanis remain the wealthiest among Asia’s families, having recovered from previous losses. The family owes its riches to the Reliance Industries conglomerate headquartered in Mumbai. The rest of the ranking’s top 10 is a mix of different industries, countries and also one global household name. The Ambanis’ wealth remains more than double that of the next clan in the ranking of Asia’s richest families, the Hartonos of Indonesia’s Djarum brand. It also earns them rank 8 among the world’s wealthiest legacy families. All in all, the 2024 ranking now features four Indian families in…

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Written By Daniele Battaglia Assistant Professor of Strategy, ESCP Business School This article is part of: Centre for the Fourth Industrial Revolution Fourth Industrial Revolution technologies can impact a firm’s performance when adopted both as stand-alone technologies and as bundles. Just adopting one technology, or several in a scattered fashion, does not constitute the most productive solution. It’s important to understand complementarities between technologies to seek synergies and achieve better performance. Where the factory of yesteryear brings to mind steaming furnaces, greasy machinery and the clang of chains, today’s manufacturing is about embedded sensors, digital twins, autonomous vehicles and robots. Indeed,…

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Mashreq, a leading UAE bank, has announced its financial results for the fiscal year 2023, demonstrating a strong commitment to client-centricity and operational excellence. The bank’s net profit has surged by 130% to reach an unprecedented AED 8.6 billion, driven by a 69% increase in net interest income. This growth is primarily due to business growth, robust client margins, and positive one-offs related to loan loss provisioning. Non-interest income reached AED 3.1 billion, marking a 13% year-on-year growth. The bank’s cost-to-income ratio improved by over 8% year-on-year, indicating strong business performance with effective control over operating costs while enabling continued…

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Written By Iliass El Fali Managing Director, Corporate Strategy, Sustainability, Innovation, OCP Group With the global population expected to hit nearly 10 billion by 2050, demand for food and energy will grow exponentially. Agricultural production will need to increase by more than 50% to achieve global food security over the same period. Mining can play a key role by providing the raw materials needed to transform agriculture and scale up food production. A predicted global population of nearly 10 billion by 2050 means global demand for food and energy is expected to grow exponentially. Yet, the planet’s ability to meet this demand is…

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Written By Victoria Masterson Senior Writer, Forum Agenda Farmers need financial support to speed up the move to sustainable food production. In a new report, the World Economic Forum identified 5 key steps to achieving this. Over $300 billion a year needs to be spent on the global food system by 2030 to make it sustainable. Farmers play a critical role in producing food sustainably. But they face financial and technical barriers, partly because it can take time to see the payback from investing in more sustainable equipment and processes. Between $300 billion and $350 billion a year needs to be…

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Supporting elections is a critical part of Google’s responsibility to our users and the democratic process. As Pakistanis take to the polls to vote in the National election to elect representatives for the National Assembly and Provincial Assemblies on February 8th, we’re committed to working with government, industry, and civil society to connect voters with helpful and authoritative information, and keep our platforms safe from abuse. Connecting voters with helpful information We know that in the run-up to elections, people need useful and relevant information to help them navigate the electoral process. We make reliable information easily available with helpful…

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Federal Minister for Communications Mr. Shahid Ashraf Tarar has said, that Intelligent Transport System (ITS) is the dire need of the hour for better and informed decision making along with creating ease for commuters. National Highway Authority along with National Highways and Motorway Police and Ministry of Communications is collaborating to bring the best of the services and management for ensuring safe and sound traveling on motorways and national highways network. He was speaking during his visit to National Traffic Operations Center today, where a detailed briefing was given to him on functioning of the center and installation of ITS…

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Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain said on Monday that the February 8 elections will bring the economy out of ICU. He said that transparent elections will result in political stability, without which economic stability is impossible. Mian Zahid Hussain said that if some people tried to make the elections controversial after the voting process had finished, the economy would continue to suffer. Speaking to the business community, the veteran business leader said that the IMF, other international institutions, and the business community…

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The Arleigh Burke-class guided-missile destroyer USS Stethem (DDG 63) steams during a three-carrier strike force photo exercise in the Western Pacific, November 12, 2017. Picture taken November 12, 2017. U.S. Navy photo by Mass Communication Specialist 3rd Class Kelsey J. Hockenberger/Handout via REUTERS/File Photo Acquire Licensing Rights Published in Reuters, on Feb 1st, 2024, By Phil Stewart and Idrees Ali WASHINGTON, Jan 31 (Reuters) – When U.S. and Australian troops practiced amphibious landings, ground combat and air operations last summer, they drew headlines about the allies deepening defense cooperation to counter China’s growing military ambitions. But for U.S. war planners preparing for a…

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Published in The Nation, on Feb 01st, 2024, Anadolu Almost a month after he was appointed China’s new defense minister, Dong Jun Wednesday held his first public video call with his Russian counterpart Sergey Shoygu and the two sides agreed to “continuously expand practical cooperation and promote the military ties to a higher level,” China’s Defense Ministry said. “The Chinese and Russian militaries must implement the important consensus reached by the two heads of state, resolutely respond to global challenges, continuously enhance strategic mutual trust, and contribute to deepening China-Russia relations,” Dong told Shoygu. This year marks the 75th anniversary…

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Smoke from bombardment billows in the background as displaced Palestinians flee from Khan Yunis, in the southern Gaza Strip.— AFP/File Published in Dawn, on Feb 1st, 2024, AFP • 125 killed in latest Israeli air strikes • UN officials fear stoppage of aid will have ‘catastrophic consequences’ GAZA CITY: Artillery fire pounded southern Gaza early on Wednesday as Israel said it had begun “flooding Hamas tunnels” and mediators sought a halt to the nearly four-month hostilities. The focus of the fighting in recent weeks has been Khan Yunis, the southern Gaza Strip’s main city, where a constant barrage of air…

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A general view of the International Court of Justice (ICJ) in The Hague, Netherlands [File: Thilo Schmuelgen/Reuters] Published in Aljazeera, on Feb 1st, 2024, Kyiv had accused Moscow of being a ‘terrorist’ state and claimed it funded separatists in eastern Ukraine. The International Court of Justice (ICJ) has rejected much of a case filed by Ukraine that accused Russia of funding separatist rebels in eastern Ukraine a decade ago, saying only that Moscow had failed to investigate alleged breaches. Kyiv had accused Moscow of being a “terrorist state” whose support for pro-Russian separatists in eastern Ukraine was a harbinger of…

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Lionel Messi and Cristiano Ronaldo gesture during a match. — AFP/File Published in Geo, on Jan 31st, 2024, Al-Nassr’s two-game tour to China is also called off after Cristiano Ronaldo’s injury The much-awaited match between Cristiano Ronaldo and Lionel Messi has been postponed because of the Portuguese international’s ailment. Ronaldo will not play in Thursday’s Riyadh Season Cup match between Messi and Inter Miami and Al-Nassr. According to his manager Luis Castro, the 38-year-old is presently addressing a muscle ailment and is not yet prepared to play again for the Saudi Pro League team. “We won’t witness [Messi vs Ronaldo].…

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by Florian Zandt, According to this year’s edition of the Corruption Perceptions Index by Transparency International, Nordic countries like Denmark, Sweden and Norway are among those thought to exhibit the least corruption in the public sector. Other advanced economies like the United States, Italy, Taiwan and Israel don’t fare that well. But how do residents of some of these countries view their elected government officials? Data from our Statista Consumer Insights shows that in Brazil and the United Kingdom, more than one third of respondents claim that national politicians can’t be trusted. When looking at the political landscape of both countries, the ruling parties…

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by Martin Armstrong, Transparency International has released its 2023 Corruption Perceptions Index which gauges levels of perceived public sector corruption in 180 countries and territories around the world. The index scores them on a scale of zero (highly corrupt) to 100 (clean) with the average score just 43 out of 100. More than two thirds of countries scored lower than 50, as the majority of countries have made “no progress or declined in the last decade.” In 2023, the countries with the lowest perceived level of public sector corruption were Denmark, Finland and New Zealand, followed by Norway, Singapore and Sweden. The opposite end of…

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Written By Maya Ben Dror Industry Manager, Automotive and New Mobility & Advanced Manufacturing, World Economic Forum The manufacturing industry is experiencing increasing cyber-attacks, month by month. The World Economic Forum’s New Narrative demonstrates how the sector can overcome challenges to resilience. Manufacturing leaders explain how action today can future-proof the factories of tomorrow. In 2022, manufacturing had the highest share of cyber-attacks among leading industries worldwide and the third quarter of 2023 marked a 15% increase over the previous. As the manufacturing landscape grapples with this escalating threat, the cost of fortifying digital defences in the cloud era has…

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Written By Thea de Gallier Senior Writer, Forum Agenda This article is part of: Centre for the New Economy and Society The World Economic Forum’s Global Risks Report 2024 reveals in which parts of the world risks like recession, conflict or the climate crisis are ranked the highest. Economic downturn was considered the number one risk over the next two years by a significant number of regions, including the US and over 20 European countries. The report recommends localized strategies as well as cross-border coordination to tackle these global risks. The risk of societal upheaval, whether in a physical, political, or…

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Written By Viola Tang Vice President, Sustainability Office, GIC Trang Chu Minh Vice President, Corporate Affairs and Communications, GIC This article is part of: Centre for Nature and Climate CapEx investments in climate solutions have risen to new highs, but they still fall short of what’s needed to reach net zero by mid-century. GIC has developed a framework to determine the incremental investment value expected from different decarbonization technologies. Research suggests the climate solutions supply chain could add $5-11 trillion in additional investment value by 2030 with mature solutions, such as electricity networks, renewables and sustainable vehicles, the most promising…

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Written By Felippa Amanta, University of Oxford The European Union is negotiating an Artificial Intelligence Act, the world’s first comprehensive law that aims to regulate artificial intelligence (AI) based on the risk it poses to individuals, society and the environment. However, discussions of AI overlook one significant environmental risk: a potential increase in energy consumption from using it in everyday activities. Without acknowledging this risk, the development of AI may contribute to the climate emergency. AI can be a double-edged sword. It can be a powerful tool for climate action, improving the efficiency of the energy grid, modelling climate change…

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Written By Anurit Kanti Global Shaper, Gurugram Hub, World Economic Forum Muhammad Hassan Dajana Global Shaper, Rawalpindi Hub, World Economic Forum Syeda Hamna Shujat Global Shaper, Lahore Hub, World Economic Forum This article is part of: Centre for Regions, Trade and Geopolitics The smog crisis common to both India and Pakistan could provide an opportunity for collaborative climate action. Collective data-sharing, research and planning could help alleviate the health impact of smog, and usher in other climate initiatives. Mutual action on climate has the potential to reduce tension between the two countries. It is increasingly obvious that the impact of…

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Written By Monica Schroeder Director of Global Advocacy, Build Change Louise Foulkes Caribbean Director & Engineering Program Manager, Build Change This article is part of: Centre for Financial and Monetary Systems Retrofitting a house instead of building a new one saves over 68% of embodied carbon compared to new construction. Addressing embodied carbon in housing is a scalable solution that could cut 4.6 billion tons of carbon emissions while improving the state of housing globally. Addressing embodied carbon in housing is both an act of climate adaptation and mitigation — it protects us from disasters while cutting emissions. Neither housing…

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Test-fire of the newly-developed submarine-launched strategic cruise missile ‘Pulhwasal-3-31’ at an unspecified location in North Korea [KCNA via EPA] Published in AlJazeera, on Jan 29th, 2024, Second test of weapon in days as North Korea accelerates efforts to modernise its navy. North Korean state media say the country’s leader, Kim Jong Un, oversaw the launch of two submarine-launched cruise missiles (SLCM), the second test of the weapon within days. The newly-developed Pulhwasal-3-31 missiles “flew in the sky above the East Sea … to hit the island target”, the KCNA news agency reported on Monday, adding that Kim “guided” the launch.…

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Palestinians carry bags of flour they grabbed from an aid truck near an Israeli checkpoint, as Gaza residents face crisis levels of hunger, amid the ongoing conflict between Israel and Hamas in Gaza City. — Reuters Published in Dawn, on Jan 29th, 2024, AFP GAZA STRIP: Heavy fighting raged in Gaza on Sunday amid a fierce row over the United Nations agency for Palestinian refugees that has called its future into question. UN Secretary-General Antonio Guterres has called on donor states to guarantee the flow of vital aid to Gaza after several halted funding to the agency, UNRWA, over Israeli…

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US soldiers in Syria on 13 February 2021. — Al Jazeera Published in The News, on Jan 29th, 2024, By Web Desk President Biden says “we shall respond” to the attack which also injured 30 troops Three US troops stationed in the Middle East, near the Jordan-Syria border, were attacked on Sunday by a drone carried out at the US base named Tower 22, BBC reported. US President Joe Biden, in a statement issued after the drone attack, said the attack was carried out by “radical-Iran-backed militant groups”, adding that Washington “shall respond” to the attack. According to reports, the one-way drone attack…

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A pro-Palestinian demonstrator tries to stop a NYPD car, as others take part in a protest, outside Jamaica Station to JFK via AirTrain in New York City, U.S., January 27, 2024. REUTERS/Eduardo Munoz/File Photo Published in Reuters, on Jan 29th, 2024, By Kanishka Singh WASHINGTON, Jan 28 (Reuters) – A U.S. Muslim group criticized former House of Representatives Speaker Nancy Pelosi on Sunday after she suggested, without offering evidence, that some protesters demanding a ceasefire in Gaza could be linked to Russia and urged the FBI to investigate. Her comments were dismissed as “unsubstantiated smears” by the Council on American-Islamic Relations…

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In an era where digital transformation dictates the pace of global progress, Si Global Solutions (Pvt) Ltd stands as a paragon of innovation and excellence in the information technology sector. With its expansive footprint across Pakistan, the UAE, the USA, and Canada, Si Global has etched its name in the annals of tech giants, redefining the boundaries of technological advancements and customer satisfaction. At the core of Si Global’s success is its commitment to providing state-of-the-art and cost-effective solutions tailored to meet the diverse needs of its clientele. This commitment is evident in its impressive roster of over 500 satisfied…

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Competition between Gulf economies benefits whole region Gulf Economies are benefiting from competition and continue to show signs of growth because of competitiveness in the Middle East region, the UAE economy minister told Arab News on Wednesday. Abdulla bin Touq Al-Marri, who was speaking on a panel at the World Economic Forum in Davos, said that competition within the Gulf economies was a good thing, and that their trajectories were on an upward path, even in the face of current high interest rates and inflation. Non-oil sector expected to drive Oman’s economic growth in 2024 With Oil Sector growth set…

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Pakistan customs mark a historic achievement Pakistan Customs, in collaboration with the National Logistics Corporation (NLC), has marked a historic achievement by clearing the inaugural shipment under the Multimodal International Road Transport (TIR) Convention. This move positions Pakistan as a potential key player in the regional transit hub. The operational success of the uni-modal TIR system under Pakistan Customs paved the way for NLC, working with the Directorate General Transit Trade Customs, to initiate the Multi-modal TIR transportation service for foreign traders, terminal operators at the Karachi International Container Terminal (KICT), and the web-based computerised clearance system (WeBOC) team. Committee…

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Tufail Multichem Leverages SAP S/4HANA for Enhanced Operational Excellence and Innovation: Tufail Multichem Industries Pvt Ltd., a leader in the chemicals industry, has taken a significant leap forward by integrating SAP S/4HANA into its operations, marking a strategic move towards enhanced operational excellence and fostering a culture of innovation within the company. The project’s scope encompasses SAP modules covering Finance and Controlling, Sales and Distribution, Supply Chain, Production Planning, Plant Maintenance, Quality, and Human Capital Management. Additionally, SAP Fiori apps are integrated to enhance the user-friendly execution of daily tasks. Google CEO Warns Employees of More Layoffs in 2024: Google…

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Pakistan’s first specialised credit guarantee company for SMEs opened NCGCL launch will generate higher economic growth, employment, and development impact: Finance Minister National Credit Guarantee Company Limited (NCGCL) will be the first-ever specialised market-based SME credit guarantee facility for enhancing SMEs’ access to finance in Pakistan, said Dr. Shamshad Akhtar, the caretaker minister for Finance, Revenue, and Economic Affairs, on the launch of Pakistan’s first specialised credit guarantee company for SMEs in collaboration with Karandaz. During her keynote address, Dr Shamshad Akhtar emphasised the importance of enhanced SME credit, which at present stands at 5.2% of the total private credit…

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Kibor rate is the average interest rate at which term deposits are offered between prime banks in the Pakistani wholesale money market or interbank market. KIBOR as a benchmark, to encourage transparency  and improve management of the market risk undertaken by banks. Kibor Rates In Pakistan TENOR BID OFFER 1 – Week 21.69 22.19 2 – Week 21.61 22.11 1 – Month 21.04 21.54 3 – Month 20.37 20.62 6 – Month 20.37 20.62 9 – Month 20.34 20.84 1 – Year 20.34 20.84 Last Updated on 25th Jan 2024 Source: SBP

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by Felix Richter, While Americans have nothing against online video advertising per se, as long as it’s not too obnoxious and helps them save a couple of bucks, everything has a time and a place and video ads belong in video content. That’s according to findings from Statista Consumer Insights, which show that video ads on websites are the most hated form of online advertising in the United States. Statista asked more than 5,000 Americans which types of online ads they find particularly annoying and auto-play videos with sound came out the clear “winner”. 49 percent of respondents said they find…

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by Felix Richter, What do Alexander Zverev, Stefanos Tsitsipas, Frances Tiafoe and Andrey Rublev have in common? They all have been among the best tennis players in the world for several years, winning tournaments, earning millions of dollars in prize money, and yet, all of them have so far fallen short of the ultimate goal in tennis, which is winning a Grand Slam title. Until yesterday, Jannik Sinner, a former skiing prodigy from the Italian Alps was in this unfortunate club of Grand Slam hopefuls as well. And after the first two sets of Sunday’s Australian Open final, it looked like it would…

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by Florian Zandt, Nowadays, Apple is known for its mobile computing solutions, be it Macbooks, iPhones or Apple Watches. The roots of the company founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne, however, lie in desktop PCs. After releasing the Apple I and II in 1976 and 1977, respectively, the first Macintosh featuring a graphical user interface and a mouse entered the market in 1984. The Macintosh product series, officially shortened to Mac in the late 1990s, was the primary pillar of Apple’s business success until the introduction of the first iPhone in 2007. In the company’s fiscal year…

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by Felix Richter, Little more than a year after Argentina were crowned champions at the 2022 FIFA World Cup, Qatar is once again playing host to a major international football tournament, the AFC Asian Cup. Since its inauguration in 1956, the quadrennial tournament organized by the Asian Football Confederation has grown both in size and in stature. Following its latest expansion in 2019, the Asian Cup now involves 24 national teams from the Asian Confederation competing for a spot in the final, which will be held at Lusail Stadium on February 10. According to the bookmakers, record champions Japan, South Korea and Iran…

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Written By Gary Steele President and Chief Executive Officer, Splunk This article is part of: World Economic Forum Annual Meeting Cybersecurity is one of AI’s core applications, against a backdrop of a fast-evolving threat landscape. Over the next year, AI will transform cyberthreat detection and risk assessment. Keeping a human in the loop will be essential to responsible AI-powered cybersecurity. Three innovations have revolutionized the digital world in the last few decades: the internet, cloud and AI. Each technology took time for organizations to understand and adapt in the most productive and impactful way. To that end, AI is still…

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Written By Martina Grünwald Online Content Manager, Helmholtz Association Sarah Michaud Science Writer and Editor, Freelance This article is part of: World Economic Forum Annual Meeting Tandem solar-cell technology – the pairing of new perovskite cells with standard silicon cells – may hasten a global energy transition from fossil fuels to sustainable sources. Researchers now report record breaking power-conversion efficiencies for these solar cell duos. A team from Helmholtz Zentrum Berlin reports efficiencies of over 30%, with 40% efficiencies theoretically possible. To achieve urgently needed climate-change mitigation, global policies must demonstrate long-term commitments and provide market security to solar cell…

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Written By Christian Klein Chief Executive Officer, SAP SE This article is part of: World Economic Forum Annual Meeting Generative artificial intelligence (AI) represents a revolutionary and transformative opportunity, much like the World Wide Web did several decades ago. Generative AI for business can help find better and faster solutions to the questions millions of organizations around the world face today and help solve crises. Generative AI will only have transformative power if it is trustworthy and based on relevance, reliability and responsibility. “Vague but exciting.” The words were the understatement of the 20th century, scribbled on the margins…

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Written By Jo Taylor President and Chief Executive Officer, Ontario Teachers’ Pension Plan This article is part of: World Economic Forum Annual Meeting The world has seen disruption on the geopolitical, climate and technology fronts over the the past few years. This poses challenges for businesses, most of which perform best under stable market and political conditions. Here are four trends that businesses should be aware of in order to be adaptable and build resilience. If there is one takeaway from the turbulence we have seen in the past few years, it’s that the world is not set to…

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Written By Ismaeel Tharwat Assistant Professor, The American University in Cairo; Co-CEO, The Sports Hub (TSH); Curator, WEF Global Shapers , Cairo Hub This article is part of: World Economic Forum Annual Meeting Growing evidence suggests that trust and ethics are critical to build the sustainable economy and future that the world wants. From policy-making to economics and society, trust can drive progress, investment and cohesion. Trust in financial markets and systems attracts greater investment and increases innovation and entrepreneurship, which are amongst the primary drivers of economic growth. Our economic future is our choice and is in our hands, both as…

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Written By Maksim Soshkin Research and Analysis Specialist, World Economic Forum Marion Karl Senior Lecturer in Tourism Marketing and Management, University of Surrey This article is part of: World Economic Forum Annual Meeting The travel and tourism sector faces many challenges in a disrupted world, from geopolitical tensions to climate change. The sector can be a powerful driver of sustainable economic prosperity – supporting people and places. The latest Travel and Tourism Development Index benchmarks the factors and policies that enable resilient and sustainable development. With 2023 at an end, the Travel and Tourism (T&T) sector is finally positioned to…

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Written By James Robert Innes, University of Bradford Production of natural rubber has claimed over 4 million hectares of forest in south-east Asia since 1993 according to a recent study. This destruction of tropical forest for rubber plantations is thought to be two to three times greater than previous estimates. Natural rubber is vital to tyre production since it is stronger, more wear-resistant and more flexible than synthetic rubber. Multiple blends of natural and synthetic rubber are used for making different parts of a tyre. If more of these tyres were recycled, it would reduce how much oil, energy and…

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Written By Börje Ekholm President and Chief Executive Officer, Ericsson This article is part of: World Economic Forum Annual Meeting High-performing 5G networks are needed to support the next stage of cloud- and AI-based digitalization. A new initiative giving software developers access to 5G network capabilities aims to democratize innovation. With technological advancements key to confronting global challenges, forward-thinking governments must implement the necessary policies. Imagine a world where you can utilize any government service seamlessly with an intelligent digital identity. Or a world where remote technicians have guaranteed levels of connectivity and video access to do their jobs safely in…

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A test launch of a Hwasongpho-18 intercontinental ballistic missile at an undisclosed location in North Korea [File: KCNA/KNS via AFP] Published in AlJazeera, on Jan 12th, 2024, Measures target three Russian entities, one individual. US State Department says missiles for use in Ukraine war. The United States has imposed sanctions on three Russian entities and one individual allegedly involved in the transfer and testing of North Korea’s ballistic missiles for alleged use by Moscow in its war against Ukraine. The move comes after Washington and its allies criticised the exchange of arms between North Korea and Russia. The US government denounced Russia’s acquisition…

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Published in AlJazeera, on Jan 12th, 2023, Iran-aligned group calls attacks ‘barbaric’, says it will continue to target ships heading towards Israel. The United States and Britain have launched military strikes in Yemen against the Iran-aligned Houthi rebels in response to the group’s attacks on shipping in the Red Sea, raising fears of an escalation of conflict in the region. US President Joe Biden warned on Thursday that he would “not hesitate” to take further action if necessary and that the strikes followed “unprecedented” attacks by the Houthis on commercial ships in the Red Sea. end of list “These targeted strikes are…

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Palestinians raise flags and placards as they gather around a statue of the late South African president Nelson Mandela in Ramallah, on Thursday, to celebrate the landmark genocide case filed by South Africa against Israel at the International Court of Justice.—AFP Published in Dawn, on Jan 12th, 2023, Reuters • Quoting Israeli ministers, Pretoria argues intent to destroy Gaza Strip nurtured at ‘highest levels’ of govt in Tel Aviv • Israel plays victim card, claims it is fighting ‘terrorists’ THE HAGUE: South Africa accused Israel on Thursday of carrying out genocide in Gaza and demanded that the UN’s top court…

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Russian President Vladimir Putin speaks during annual news conference in Moscow, Russia December 20, 2018. —Reuters Published in Geo news, on Jan 12th, 2024, Web Desk Russia accused both nations of ‘total disregard for international law’ calling airstrikes “another example of Anglo-Saxons’ perversion of UNSC resolutions Russia strongly criticized the United States and the United Kingdom on Friday for launching military strikes against Iranian-backed Houthi rebels in Yemen, said a release issued by Russian Foreign Ministry Press Service. The US and UK air forces confirmed late Thursday’s strikes, retaliating against Houthi attacks on commercial vessels in the Red Sea during…

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Anti-landing spikes on Taiwan’s frontline island of Little Kinmen are reminders of the conflict decades earlier with Chinese communist forces. — X/@samyeh Published in The News, on Jan 09th, 2024, By Web Desk Chinese satellite alert is raised as Taiwan gets ready for next week’s elections Taiwanese authorities issued an emergency alert following the launch of a Chinese satellite over the airspace of the island. On Tuesday, as Chinese official media reported the launch of a research satellite, a mobile phone alert was sent out. The alert was raised as Taiwan got ready for next week’s elections according to Al Jazeera. China…

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Qatar will face Lebanon in their opening match of the tournament [File: Ibraheem Al Omari/Reuters] Published in AlJazeera, on Jan 11th, 2024, Hosts Qatar go into the opening match of Asian Cup on the back of a turbulent year on and off the pitch. Lusail Stadium, which played host as Lionel Messi’s Argentina lifted their third FIFA World Cup crown, will light up in gold once again as Qatar begin their AFC Asian Cup title defence in the tournament’s opening match against Lebanon on Friday evening. The Al Annabi (the Maroons) may enjoy the support of a partisan crowd as…

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Oman sets 2024 budget on average oil price of $60 per barrel Oman is forecasting a budget deficit of 640 million Omani rials ($1.66 billion) this year, around 1.5 percent of the country’s gross domestic product, state TV reported on Monday, swinging from a surplus in 2023 as lower oil production and prices weigh on public finances, according to Reuters. The 2024 budget is based on an average oil price of $60 per barrel, which is conservative by most estimates. Oman’s finance minister Sultan Salim Al-Habsi said that the estimates in the budget were based on ensuring that “financing needs…

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Worldwide bond prices double Pakistan US dollar-denominated global Eurobonds and Sukuk have staged a powerful rally in recent days, suggesting the country has left behind the worst-case scenario of potential default on foreign debt repayments after achieving the International Monetary Fund (IMF) $3 billion loan programme in June 2023. Global media outlet, Bloomberg, reported Pakistan’s international bonds would continue to hover high in 2024 ahead of the next IMF loan programme acquisition by the country after the current one completes in March 2024. It is reported the 10-year Pakistan Government International Bond worth $1 billion, maturing in April 2024, ended…

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IT Ministry to Launch Easy Installment Scheme For Buying Mobile Phones Next Week: The Ministry of Information Technology and Telecommunication, with the coordination of telecom operators, will launch the long-awaited initiative of providing mobile handsets on easy installments on January 12, 2024. The caretaker Federal Minister for Information Technology and Telecommunication Dr Umar Saif while talking to a group of journalists mentioned that one telco also is planning to offer Apple iPhone on installments. In case of failure to pay installments, the Pakistan Telecommunication Authority (PTA) would block the handset on the pattern of Device Identification, Registration, and Blocking System (DIRBS). Samsung…

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