Global economy set to ‘weaken’ in 2024: WEF report
Around 56% of chief economists expect the global economy to weaken over the next year, but another 43% expect “unchanged or stronger conditions”, the January 2024 ‘Chief Economists Outlook’ launched today by the World Economic Forum (WEF) shows. The WEF report highlights "positive developments" such as "easing inflationary pressures" and advances in "artificial intelligence" (AI), but raises concerns over "persistent headwinds" for businesses and policy-makers as the global economic activity remains slow, and financial conditions remain tight and geopolitical rifts and social strains continue to grow. The WEF Annual Meeting 2024, which is taking place on 15-19 January in Davos-Klosters, Switzerland, is convening the world’s foremost leaders under the theme, “Rebuilding Trust” this year.
Source:The North Africa Journal
January 15, 2024 11:49 UTC
Energy storage solution portfolio for businesses from BSLBATT
Battery energy storage integrates these intermittent energy sources into the grid, storing excess energy during high renewable energy production periods and releasing it during low production or high-demand periods. BSLBATT commercial energy storage solutions address power challengesMany regions in Africa face challenges concerning the stability and reliability of the power grid. BSLBATT battery energy storage systems help smooth fluctuations in power supply, providing a more stable and reliable source of electricity. During unforeseen power outages, BSLBATT’s battery energy storage systems act as backup power sources, ensuring critical operations can continue without interruption. BSLBATT’s battery energy storage enables businesses to store energy during non-peak periods when electricity costs are lower and discharge it during peak periods, assisting in managing energy costs and reducing overall expenditures.
Source:The North Africa Journal
January 15, 2024 11:40 UTC
Best practice for ransomware protection – Check Point Software – Intelligent CIO Africa
The ransomware attack on Kenya Airways is a fresh reminder of how vulnerable organisations are to cyber criminals. Recent research undertaken by cybersecurity experts Check Point Software indicates that 71% of organizations globally have found themselves victim to ransomware attacks with the financial fallout averaging a hefty US$4.35 million per breach. In 2023 one in every 11 organisations in South Africa alone suffered a ransomware attack attempt. “Ransomware isn’t just a low-risk intrusion into business systems; it’s a predator holding vital data hostage and demanding a ransom for its release. Cyber awareness trainingTrain your workforce in cyber security basics, including phishing recognition and password security.
Source:The North Africa Journal
January 15, 2024 10:34 UTC
Africa Pay TV Market Report Reveals Substantial Growth with 12 Million Additional Subscribers Projected by 2029
Dublin, Jan. 15, 2024 (GLOBE NEWSWIRE) -- The "Africa Pay TV Forecasts 2023" report has been added to ResearchAndMarkets.com's offering. The newly published Africa Pay TV Forecast signifies a notable expansion in the continent's pay television subscriber base. An anticipated surge of 12 million subscribers by 2029 is set to increase the pay TV landscape significantly. This substantial growth is indicative of the robust potential within the African market for pay TV services. Satellite TV is projected to reach 33 million subscribers, while DTT is expected to account for 21 million by the end of 2029.
Source:The North Africa Journal
January 15, 2024 10:21 UTC
Libya Energy & Economic Summit (LEES) 2024: Global Energy Companies Committed to Sustainable Energy in Libya
Global energy companies including France’s TotalEnergies, Spain’s Repsol, Italy’s Eni and Switzerland’s BGN stated that they are committed to sustainable energy in Libya, highlighting the various ways they are prioritizing low-carbon solutions during the Libya Energy & Economic Summit (LEES) (https://apo-opa.co/3ShDfc9) – taking place in Tripoli this week and organized by Energy Capital&Power (https://www.EnergyCapitalPower.com). Speaking at the summit, the companies emphasized Libya’s untapped opportunities in renewable energy as well as efforts underway to reduce emissions in oil and gas operations. As a relatively untapped renewable energy market, Libya offers lucrative opportunities for foreign companies, including oil and gas multinationals. Julien Pouget, Senior Vice President: Middle East and North Africa at TotalEnergies, explained that for the company, Libyan renewable energy is a priority. In partnership with the Renewable Energy Authority of Libya, the company is building a facility in Sadada, contributing to Libya’s clean energy goal to generate 20% of its electricity from renewable energy by the year 2035.
Source:The North Africa Journal
January 15, 2024 10:10 UTC
Morocco : Acwa Power's subsidiary Nomac Ouarzazate reshuffles its oversight council
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Source:The North Africa Journal
January 15, 2024 10:05 UTC
Africa’s legendary stadiums: Algiers’ 5 July 1962 Stadium
AFRICA’S LEGENDARY STADIUMS (4/4). In the hills above Algiers, the 5 July 1962 Stadium tells the story of 50 years of football history in Algeria – and Africa. When the stands roar with tens of thousands of football spectators, you can feel the tremors beneath your feet from miles away. There's more to this story Get unlimited access to our exclusive journalism and features today. Our award-winning team of correspondents and editors report from over 54 African countries, from Cape Town to Cairo, from Abidjan to Abuja to Addis Ababa.
Source:The North Africa Journal
January 15, 2024 09:03 UTC
Frank Spencer: Growing and energising Africa without fossil fuels
As an engineer with a master’s degree in inverter technology, qualifying in the late 1990s, Spencer realised early in his career that technical solutions alone would not solve energy problems. This is from mining the mineral to manufacturing all the battery components and assembling them, then delivering them to local utility-scale battery projects. Solar and battery technology has achieved a price point and sufficient development to be able to bring affordable, quality electricity to all. Spencer, a keen conference speaker, would tailor a presentation on Africa’s energy sector dependent on his audience. “I don’t recommend a backup battery alone because it uses more electricity than it produces.
Source:The North Africa Journal
January 15, 2024 07:03 UTC
FMM urges Malaysian shippers to enhance readiness amid Red Sea crisis
KUALA LUMPUR (Jan 15): The Federation of Malaysian Manufacturers (FMM) advised Malaysian importers and exporters to brace for potential challenges, such as limited supplies of empty containers, due to the escalating security crisis in the Red Sea. FMM president Tan Sri Soh Thian Lai, in a statement issued on Monday, expressed deep concern over the Red Sea situation that led major shipping firms to reroute vessels around the southern tip of Africa. Thus, Soh emphasises the need for Malaysian shippers to strategically adjust to safeguard supply chains and minimise the impact of the Red Sea situation to better meet customer demands. Given fluctuating freight rates and uncertain transit times, Soh urges shippers to plan container bookings and shipping schedules at least one month in advance for affected markets. Soh also calls on shipping companies to honour pre-booked freight rates for Malaysian shippers without adjustments.
Source:The North Africa Journal
January 15, 2024 04:54 UTC
North Korea Launches Suspected Intermediate-Range Ballistic Missile That Can Reach Distant US Bases
SEOUL, South Korea (AP) — North Korea fired a suspected intermediate-range ballistic missile into the sea on Sunday, South Korea's military said, two months after the North claimed to have tested engines for a new harder-to-detect missile capable of striking distant U.S. targets in the region. It said South Korea's military will maintain its readiness to overwhelmingly respond to any provocations by North Korea. The South Korean assessment suggests North Korea could have launched a new intermediate-range ballistic missile, whose solid-fuel engine it said it had tested in mid-November. North Korea has a growing arsenal of solid-fuel short-range missiles targeting South Korea, but its existing Hwasong-12 intermediate-range missile is powered by liquid-fuel engines. South Korea accused North Korea of continuing similar artillery barrage in the area for the next two days.
Source:The North Africa Journal
January 15, 2024 00:43 UTC
UN sets December deadline for peacekeepers to complete DR Congo pullout
"After 25 years of presence, MONUSCO will definitively leave the DRC no later than the end of 2024,” Keita said at a media briefing in the Congolese capital of Kinshasa. The end of the mission will not be “the end of the United Nations” in the country, she added. The U.N. and Congolese officials worked together to produce a disengagement plan for “a progressive, responsible, honorable and exemplary withdrawal of MONUSCO,” Congolese Foreign Minister Christophe Lutundula said. Modalities have also been set for “the gradual transfer of tasks from MONUSCO to Congolese government,” Lutundula added. The violence is occasioned by rampant mass killings and has displaced nearly 7 million people.
Source:The North Africa Journal
January 14, 2024 21:47 UTC
International representatives make various interventions at Libya Energy and Economic Summit 2024
Various international ministers and company representatives made speeches or interventions as part of panels yesterday on the opening day of the Libya Energy and Economic Summit 2024 (Tripoli, 13 to 14 January). MaltaMaltese Environment, Energy and Enterprise Minister, Miriam Dalli, said Libya is a strong partner in the energy field. She said Libya has the opportunity to play a leadership role in the sector and a lot can be achieved together if as countries bordering the Mediterranean we work together. TurkeyTurkish Minister of Energy and Natural Resources, Alparslan Bayraktar said we must act urgently and quickly towards adopting alternative energy. Total EnergiesSenior Vice President Middle East and North Africa for Total Energies, Julien Pouget said the main problem facing us as investors in Libya is the ambiguous security situation, which is sometimes “very difficult.”He said the Al-Sadada project to develop renewable energy production by relying on solar energy, which is supposed to produce 500 megawatts of solar energy, will contribute to the development of energy production in Libya and to the development of the economy as a whole.
Source:The North Africa Journal
January 14, 2024 21:21 UTC
Sudan govt rejects east African mediation move
AL STATE: Sudan’s army-aligned government on Saturday spurned an invitation to an east African summit and rebuked the United Nations for engaging with the commander of rival paramilitary forces. Analysts say the army chief is growing more and more isolated diplomatically, as his troops fail to halt RSF advances. Burhan has reacted angrily to Daglo’s growing diplomatic status, accusing African leaders who hosted him on his recent tour of complicity in atrocities against Sudanese civilians. The war has killed more than 13,000 people, according to a conservative estimate by the Armed Conflict Location & Event Data project. Both sides have been accused of war crimes, including the indiscriminate shelling of residential areas, torture and arbitrary detention of civilians.
Source:The North Africa Journal
January 14, 2024 13:58 UTC
North Korea launches suspected intermediate-range ballistic missile that can reach distant US bases
It said South Korea’s military will maintain its readiness to overwhelmingly respond to any provocations by North Korea. The South Korean assessment suggests North Korea could have launched a new intermediate-range ballistic missile, whose solid-fuel engine the North said it had tested in mid-November. North Korea has a growing arsenal of solid-fuel short-range missiles targeting South Korea, but its existing Hwasong-12 intermediate-range missile is powered by liquid-fuel engines. AdvertisementThe last time North Korea performed a missile launch was Dec. 18, when it test-fired its Hwasong-18 solid-fueled intercontinental ballistic missile, the North’s most advanced weapon. The U.S. government said it has evidence that missiles provided by North Korea to Russia had been used in the war in Ukraine.
Source:The North Africa Journal
January 14, 2024 13:16 UTC