Category: Business News & Insight

UN Secretary-General António Guterres celebrated the achievements and contributions of people of African descent from across the world, while addressing the forum via video message, but also acknowledged existing racial discrimination and inequalities Black people continue to face. 

He said the establishment of the Permanent Forum shows a dedication from the international community to address these injustices. Still, it needs to be backed by significant change for people of African descent globally.

“Now we must build on that momentum to drive meaningful change – by ensuring that people of African descent enjoy the full and equal realization of their human rights; by stepping up efforts to eliminate racism and discrimination – including through reparations; and by taking steps towards the full inclusion of people of African descent in society as equal citizens,” said Mr. Guterres.

‘Formidable convening power’

Deputy High Commissioner for Human Rights Nada Al-Nashif praised the forum for its “formidable convening power” by meeting for a third high profile session less than two years after becoming operational.

She commended the forum’s planned 70 side events focusing on climate justice, education, health, and more for people of African descent, saying it shows a “remarkable effort, amplifying the reach and impact of our collective commitment.”

Ms. Al-Nashif urged Member States to participate in discussions and act on recommendations derived from them. 

“Only then can we ensure that all civil, political, economic, social, and cultural rights of people of African descent can be fully realized without discrimination or bias,” she said.

Decade should extend

Ms. Al-Nashif said the UN High Commissioner for Human Rights, Volker Türk, supports the extension of the International Decade for people of African Descent – a time proclaimed by the General Assembly in 2015 to focus on recognition, justice and development. 

During the Permanent Forum, a conversation will be centred around achievement limitations and expectations of the requested second international decade. 

“We look forward to the outcome of the discussions of this session; and we will be following the intergovernmental discussions in relation to the International Decade throughout this year,” said Ms. Al-Nashif.

All reports from the Permanent Forum will be presented to the 57th session of the UN Human Rights Council in September, as well as the new session of the UN General Assembly, which begins that month.

A fight for change

The Deputy High Commissioner said her office is continuing to look for ways to ensure “the meaningful, inclusive, and safe participation of people of African descent in public life is essential in the fight against systemic racism.”

The speed with which shipping companies have responded to the crisis in the Red Sea underlines the growth of digitisation and utilisation of diverse data resources to support complex decision making. But data issues, from ownership to a lack of open integration, remain a challenge explains Captain Steve Bomgardner, Vice President – Shipping & Offshore, Pole Star Global.

Rerouting Confirmed

It is fast becoming clear that shipping companies have evolved beyond their immediate, journey specific response to the escalation of hostilities in the Red Sea to a strategic approach that has been embedded in 2024 plans. Data from Pole Star confirms a significant reduction in the number of vessels using the Red Sea. Despite the additional cost and delay associated with rerouting via the Cape of Good Hope, the number of cargo ships and tankers traveling through the Red Sea dropped almost a quarter in the last few months, from 830 in October 2023 to 626 in February 2024.

Rerouting decisions are, of course, influenced by a number of factors, including cargo, cost and risk perception; but with the cost of war insurance rising, especially for US, UK and Israeli shipping firms, the shift towards the Cape of Good Hope is increasing. For many firms, the experience in March 2021 when the Ever Given container ship blocked the Suez Canal, causing an unprecedented shipping backlog, has provided vital insight to support these rerouting decisions. The additional time required for the Cape of Good Hope route, as well as issues of fuel consumption and emissions, were already understood. Firms have been able to quickly calculate the implications for crew, including the potential need to extend contracts by several weeks and delay the onboarding of new crew members.

This information is now firmly embedded in shipping companies’ emergency response plans, enabling rapid, vessel-by-vessel decision making based on crew costs, fuel and state of repair, balanced against the potential time sensitive nature of the cargo commodity and possible penalties for missed delivery deadlines. What is different this time around is the risk assessment and insurance premium. To the existing baseline calculations, companies are quickly adding the cost of war insurance as well as a vessel-by-vessel perception of risk associated with the targeted nature of attacks.

Data Transparency

This current disruption to global shipping is just one more example of a global supply chain facing constant and ever evolving challenges. The maritime industry increasingly recognises the vital importance of fast access to an array of data sources to support complex risk assessment and rerouting decisions. The rapid digitisation occurring throughout the industry is supporting fast decision making, however emergency response, as well as day to day activity, remains challenged by the lack of open data.

Shipping companies need instant visibility of an array of data from multiple sources, and without open Application Programming Interfaces (API), integrating these diverse data resources is incredibly challenging. The slow, painstaking integration process is adding significant time and cost to digitisation projects, and delaying access to the consolidated information resources and analytics that have the power to transform the speed and power of decision making.

Furthermore, as companies increasingly look to add sensors across their vessels to provide vital information to improve efficiency and safety and support preventative maintenance, uncertainties over data ownership are arising. The shipping company may own the sensor – but the ownership of the valuable data recorded by that sensor, the temperature, fuel consumption or engine emission reading – often turns out to have been retained by the OEM.

Conclusion

Fast access to high quality data is transforming the maritime industry both day to day activity and emergency response. Solutions such as hardware free voyage optimisation systems that deliver fleet monitoring, regulatory compliance, performance analytics and voyage optimisation in a single view are providing a seamless access to vital information both onboard and on shore.

However, these data issues clearly need to be urgently addressed if the maritime industry’s adoption of digitisation is to continue at pace to provide shipping owners with the trusted, real-time insight required to respond to the next emerging crisis.

The programme, a collaborative effort between Umoya Energy Wind Farm and the Initiative for Community Advancement, focuses on nurturing local talent, promoting innovation, and contributing to the long-term economic development of the region

In an effort to stimulate local economic growth and foster entrepreneurship, six small medium and micro enterprises (SMMEs) from the Bergriver Municipal Area have been selected to receive grant funding as part of a comprehensive enterprise development programme.

This initiative is designed to not only provide financial assistance but also to upskill and equip local entrepreneurs with essential business knowledge and tools necessary for sustainable growth.

The programme, a collaborative effort between Umoya Energy Wind Farm and the Initiative for Community Advancement, focuses on nurturing local talent, promoting innovation, and contributing to the long-term economic development of the region.

“The support we offer goes beyond mere financial aid; it’s about investing in our community’s future by empowering local businesses. The remarkable progress of our SMMEs fills us with pride, and we believe this funding will further propel them towards achieving their full potential,” stated Shariefa Rhodes, community operations manager at Umoya Energy Wind Farm.

Running from July 2023 to February 2024, the initiative targeted SMMEs from Piketberg, Aurora, and Velddrif, providing them with a grant of R25,000 each. This financial boost will enable the beneficiaries to invest in critical areas of their businesses, such as acquiring new equipment, adopting advanced technology, enhancing marketing strategies, and facilitating expansion efforts, all of which are vital for improving their market position and fostering growth.

“I feel fortunate to have been part of the Small Business Support Programme. It gave me valuable insights on how to be innovative in today’s business world and pushed me to excel under pressure. Presenting my business to funders was both daunting and exciting. After six years in business, to receive funding for the first time was a humbling experience. I am grateful for the opportunity and extend my heartfelt thanks,” expressed Vernon Klaase, a programme beneficiary. The culmination of this programme was marked by an awards ceremony in February 2024, celebrating the entrepreneurs’ achievements and the positive impact of the initiative on the local economy. By supporting these SMMEs, the programme aims to create a more vibrant, innovative, and sustainable economic landscape within the Bergriver Municipal Area.

While location and facilities are important, experiences are equally critical

South Africa’s post-Covid recovery in international tourism is under way but we’re not quite there yet. In trying to lure back big tourism spenders, is the industry losing sight of the value of local tourists?

South Africa’s fiscal crisis, in an environment of rising interest rates, soaring food, fuel and energy prices, plus high levels of unemployment, is likely to dominate the news cycle for years to come.

But while the focus is primarily on the cost of living, the travel and tourism sector is a powerful driving force for the economy, creating jobs, stimulating growth, upskilling and lifting communities out of poverty.

The latest UNWTO World Tourism Barometer shows global tourism is on route to a strong recovery: 2023 closed with tourism numbers up at 88% of pre-pandemic levels, with an estimated 1.3 billion international tourist arrivals. China’s reopening earlier last year had a marked impact, but the US boasts the largest travel and tourism sector in the world.

The World Travel & Tourism Council says with the remaining pent-up demand unleashed, increased air connectivity, and a stronger recovery of Asian markets and destinations, it expects international tourism to make a full recovery by the end of 2024 — despite the challenging economic backdrop and geopolitical tensions.

Stats SA’s tourism data for December shows most of our tourists came from the United Kingdom, the US and Germany, which brought in 41,106 (20%); 33,027 (16.1%) and 25,288 (12.3%) tourists respectively.

With direct flights between the US and South Africa, and the dollar on their side, the US market is a massive opportunity to ramp up our country’s travel and tourism sector.

It’s American tourists, a robust source market for Europe, the Americas, and the Middle East, who are driving tourism flows and spending around the world.

In South Africa, pre-Covid, the US market was our second-largest inbound market, recording 373,694 arrivals. They spent R7.8bn that year on tourism in this country: by 2022, that had risen by 6% to R8.3bn. While the UK brings in more tourists, Americans spend more on our shores. The reintroduction of direct flights between New York and Cape Town has reduced travel time for US visitors and will likely encourage more Americans to visit South Africa.

In the year to November 2023, South Africa welcomed more than a million visitors from Europe primarily from the UK, but also from Germany and the Netherlands, according to recent data from Stats SA. China, Singapore, India and Russia also account for a significant proportion of visitors.

Opportunity Knocks

South Africa’s tourism sector is finally starting to approach pre-pandemic levels, although we have some way to go: StatsSA’s latest data shows our international arrivals are still 17.1% below the pre-pandemic levels and the December 2023 number (862 460) is 41.8% lower than the 1,481,183 recorded in 2019.

What this means for South Africa’s leisure and hospitality sector, whether focused on day trips, weekend retreats, business travel, or longer stays, is an immense opportunity.

While many tourism operators aim to attract international tourism, which is certainly lucrative and cannot be ignored, local tourists should be the cornerstone of their business. If Covid-19 showed us anything, it’s that local tourists should be our bread-and-butter: they kept the industry afloat during the pandemic and are a sustainable market.

Economic pressures, rising travel costs and inflation are resulting in a global shift towards more proximate destinations. In South Africa, plagued by a weak local currency, domestic tourism is likely to see an even bigger uptick in the next few years. There is no question that our citizens are eager to explore South Africa and are cognisant that there aren’t many countries where one can enjoy world-class facilities, gourmet cuisine and exceptional experiences at our prices.

The data reveals that the domestic tourism market is the fastest-growing sector. South Africans took 18.8 million domestic overnight trips in the first half of 2023, a 23.4% increase compared to the same period in 2022.

Affordable Luxury

Thirty years of experience in the hospitality and leisure sector has taught us that providing affordable luxury for the average guest is a winning formula, helping to deliver high occupancy levels despite price sensitivity.

The local market wants tourism and hospitality properties that are easily accessible from major cities, so guests — whether families or MICE tourists (meetings, incentives, conferences, and exhibitions) – do not have to factor in flight costs or long road trips. Consumers are under more financial stress than ever before, turning over every cent, so they want bang for their buck.

While location and facilities are important, experiences are equally critical. So too is the hybrid business-leisure trend post the pandemic which requires that hospitality establishments can provide uninterrupted power and reliable Wi-Fi. The growth of remote working has led to the development of extended stay products which allow guests to take longer breaks without having to take leave. Investments in these products are becoming increasingly attractive for investors because they provide a healthy return.

What has become very apparent post the pandemic is that not only is the domestic tourism sector well-positioned for growth, but it’s also well-positioned to offer exceptional experiences that are a fraction of the cost of an international holiday. Quality tourism and hospitality products that are easily accessible and provide guests with an enticing experience are likely to flourish in the years ahead, doing much to boost local economies and alleviate unemployment in the process.

Ongoing tension in the Red Sea is yet another geopolitical crisis that has upended the international supply chain in recent years, shining a spotlight on its frailty during times of volatility on the global stage.

At the forefront of these recurrent crises, Aramex UK has been helping clients navigate through the complexities of the global logistics arena, leveraging its extensive global network and decades of experience to ensure its clients’ shipments continue moving regardless of the state of play.

With geopolitical volatility continuing to be ever present, Haissam Badr, National Freight Manager at Aramex UK has suggested that in order to thrive in 2024 and beyond, businesses need to make strategic moves to enhance agility and resilience while also preparing for uncertain futures.

War, climate change, inflation, trade disputes and pandemics are only just a few of the threats businesses have faced on the global stage since the turn of the decade.

The emergence of the Rea Sea crisis comes at a time where emphasis on supply chain resilience has become increasingly more prominent – shifting away from the modus operandi that was in place previously which prioritised low costs and optimisation.

Companies faced with the challenge of establishing new supply chain strategies in the wake of the Covid-19 pandemic have once again been forced to quickly adjust their approach, as attacks on cargo ships by Houthi rebels along the Suez Canal have brought the crucial international trade corridor to a near standstill in recent months.

The latest chapter of the Red Sea’s recent troubles has resulted in significant stock delivery delays for the retail industry, with many vessels having to divert en-masse to the next most viable trade route – the Cape of Good Hope. The causality of this is an extra 10 to 14 days lead time leading to higher wait times and surcharges being applied to already heightened logistics costs.

Last month, Sky News reported that typical shipping prices were 329% higher since the disruption began in November. Although published data has since painted a slightly more positive picture of the current state of play as attacks subside, the cost of container shipping still remains well above normal levels.

In response to the recent crisis, Aramex UK has ensured to provide a comprehensive array of viable solutions to mitigate delays as much as possible. In doing so, Aramex’s own operated trucks will be deployed from Asia via Dubai, UAE, Dammam, KSA and from Europe via Port Said, Egypt.

When shipping goods internationally, Haissam Badr has highlighted the importance of exporters collaborating with experienced logistics partners that have a fundamental understanding of the dynamic nature of global trade, the seismic impact that geopolitical challenges such as the current Red Sea crisis can have on organisations and their ability to operate, and how best to respond diligently.

“The recent landscape has placed supply chains under enormous pressure in recent years with the current Red Sea crisis being one such example.  It is becoming more the norm rather than an infrequent event Haissam said and it is essential that we legislate for this on behalf of our customers.

“Moving forward businesses need to adapt their logistics strategies by proactively managing and preparing for what has become an increasingly volatile marketplace, rather than simply undertaking a reactive approach to issues as and when they occur. One way in which they can do this is secure the services of an experienced global logistics partner that has the expertise, network and technological capabilities to navigate the complexities of the global marketplace with total confidence.

“Amidst fluctuating consumer demands, geopolitical tensions, natural disasters, and unforeseen disruptions, companies in 2024 must traverse a complex landscape to ensure seamless operations and meet customer expectations. In doing so, they can not only strengthen their competitive position within the marketplace but also ensure sustainable growth in an ever-evolving business landscape.”

With several big shipping companies diverting their routes away from the Red Sea due to current conflicts, the delivery of shipping containers and consumer goods is taking longer than usual.

Over the past few months, a number of Maersk and MSC container ships have been assaulted by Houthi rebels, which has reinforced the importance for shipping companies to map out alternative routes for the security of their crew members and container cargo.

So, what does this mean for businesses awaiting commercial deliveries? Cleveland Containers, one of the UK’s leading suppliers of shipping containers, explains how the Red Sea disruptions are affecting industries across the country.

What is happening in the Red Sea?

Since the beginning of the Israel-Hames conflict in October, Houthi rebels have been launching rockets and drones against foreign-owned ships navigating through the strait of Bab al-Mandab. This is a 20-mile wide channel separating Yemen on the Arabian Peninsula side and Eritrea and Djibouti on the east African coast.

Andrew Thompson, Chief Executive Officer of the Cleveland Group, which consists of Cleveland Containers, Cleveland Hire and Cleveland Modular, said, “Generally, ships enter the strait of Bab al-Mandab from the south to cross the Red Sea and reach the Mediterranean via Egypt’s Suez Canal.

“But the threat of potential attacks has forced global shipping firms to amend their itineraries, with vessels now cruising around the Cape of Good Hope (South Africa) and then all the way up the west side of the continent.

“This is causing severe delays to shipping deliveries, as the alternative route can extend transit times to at least two or three weeks. And, in turn, the delays are also having a knock-on effect on the operations of sectors and companies all over the UK, impacting stock availability and delivery pricing.”    

What sector is being affected the most?

Many sectors, such as retail and construction, are being significantly affected by the Red Sea disruptions, as companies deal with supply chain logjams due to the rerouting of deliveries.

Manufacturing is no doubt one of the industries that has to tackle the harsh consequences of the ongoing situation, too. For example, at the start of 2024, big automakers such as Volvo, Tesla, and Suzuki had to suspend some production across Europe because of shortages in components.

In particular, the UK manufacturing sector has witnessed a decline in operations in recent times, and the Red Sea problems have contributed to hindering the situation even further. As of January 2024, its purchasing managers’ index (PMI) stood at 47.0, with any reading below 50 indicating a contraction.

The current delays are prolonging expected deliveries, causing disruptions to production schedules and increasing financial pressures at a time when companies are already struggling to make ends meet.

The additional costs behind the Red Sea disruptions

The ongoing disruption in the Red Sea means that the cost of delivering goods worldwide is increasing, too.

The forced change in route has increased sailing times by 30%, leading to a rise in fuel consumption and extended work shifts for ship crews.

Not to mention that shipping companies are facing additional port fees as vessels need to stop more often along the way, as well as higher freight expenses overall.

So, ultimately, this is why businesses across the UK are currently having to spend more money on the delivery of products, items, and materials to keep their operations going.    

It is also worth noting that the delays of goods leaving China and other parts of the world are escalating demand and impacting availability. Some sectors might be experiencing significant stocking issues, whereas others may not have the materials they need to fuel their industrial processes.

In short, the Red Sea disruptions are causing a slowdown in production, resulting in lower output and an overall loss in revenue for companies all over the country.

As things stand, the threat of Houthi attacks on vessels in the Red Sea is setting back transit times, increasing shipping costs, and putting the financial wellbeing of several sectors to the test.

While it is difficult to make predictions at this stage, the hope is that the situation will ease over the coming months to restore some sort of normality worldwide.  

In recent years, an increasing number of UK residents have been drawn to the vibrant and robust business landscape of Dubai, seeking opportunities and a strategic base for their professional future. The appeal lies not only in the city’s cosmopolitan atmosphere but also in the host of advantages offered by the offshore business environment.

In this article, Turner Little will explore the key factors driving the surge in UK businesses establishing a presence in Dubai and delve into the specific benefits they stand to gain.

1. Tax regime and efficiency

One of the primary attractions of setting up an offshore location in Dubai is its favourable tax regime. The emirate boasts a low-tax environment with low corporate tax and no income taxes, offering businesses a competitive edge and increased profitability. Additionally, the efficient tax system simplifies compliance procedures, reducing the administrative burden on businesses, allowing them to focus on their core operations.

2. Corporate privacy and confidentiality

Dubai offers a robust framework for corporate privacy and confidentiality. The legal system prioritises business confidentiality, protecting the privacy of corporate entities and their stakeholders. This ensures a secure and discreet environment for businesses, allows them to operate with confidence and security.

3. Asset protection

Establishing an offshore presence in Dubai provides a shield for business assets. The legal structure in Dubai safeguards assets against potential risks, creditors, or legal disputes. This protection feature enhances the overall stability and security of the business, allowing it to thrive without undue and mitigating exposure to external threats.

4. Regulatory framework

Dubai’s robust regulatory framework is renowned for its business-friendly policies. The government is committed to fostering a pro-business environment, streamlining bureaucratic processes, and facilitating ease of doing business. This approach minimises red tape and accelerates the setup and operation of businesses, contributing to a conducive atmosphere for growth.

5. Infrastructure

Dubai’s world-class infrastructure is a major draw for businesses. The city’s modern amenities, state-of-the-art facilities and strategic location as a global business hub make it an ideal base for companies looking to expand internationally. The well-developed infrastructure ensures seamless connectivity, efficient logistics and access to a diverse talent pool.

6. Reporting and record keeping

Dubai emphasises transparency and adherence to international standards in financial reporting. The regulatory authorities enforce rigorous reporting and record-keeping requirements, instilling confidence in investors and stakeholders, this commitment to transparency enhances the credibility of businesses operating in Dubai’s offshore jurisdiction.

Alongside the above benefits of establishing an offshore business in Dubai, there are several key factors that will influence any business owner’s decision to initiate the move to an offshore location. From our expertise, these are the four factors you must consider when deciding if this is the correct location for you and your business.

1. Speed

Are the processes for company formation and business operations swift and streamlined, ensuring that entrepreneurs and business owners can establish a presence rapidly and capitalise on emerging opportunities with minimal delay.

2. Privacy

Does the location offer commitment to corporate confidentiality and data protection and provide businesses with a secure environment. Sensitive information should remain private to help foster trust among clients, partners and investors.

3. Local tax regime

Does the location offer minimal to no corporate and income tax to increase the attractiveness of the offshore location, allowing businesses to maximise profits and allocate resources more efficiently.

4. Reputation

Is the global reputation of the location business-friendly and progressive, to help add credibility to businesses operating within its jurisdiction. A positive reputation can help enhance a company’s reputation and open doors to international partnerships and collaborations.

In conclusion, the rise of UK businesses establishing an offshore presence in Dubai is a testament to the strategic advantages offered by the emirate. From a favourable tax regime and corporate privacy to robust infrastructure and a pro-business regulatory framework, Dubai provides a conducive environment for growth and success. As businesses increasingly recognise the benefits of operating in this dynamic hub, the trend of establishing an offshore presence in Dubai is poised to continue on the upward trajectory.

Ras Al Khaimah Economic Zone (RAKEZ) is at the annual Gulfood exhibition, the region’s largest F&B event, which is taking place at Dubai World Trade Center through 22 February. RAKEZ is dedicated to offering global investors complete business solutions for establishing and growing their presence in the UAE’s flourishing food and beverage industry.  

The country’s F&B sector is experiencing a significant boom, driven by growing expat population, high disposable incomes, diverse cultural tastes, and a robust GDP. A Statista report highlights the industry’s bright future, projecting that per capita spending in the UAE’s F&B sector will reach approximately AED 14,000 by 2025. This optimistic outlook positions the UAE as a fertile ground for F&B businesses seeking growth and innovation.  

RAKEZ Group CEO, Ramy Jallad, said, “A new global chapter is unfolding in the future of food with great technological advancements being unveiled at Gulfood. It’s time to innovate for a more sustainable, thoughtful, and brighter future for the entire F&B ecosystem across the world. RAKEZ is committed to being at the forefront of this transformation, providing a nurturing environment for F&B companies to thrive in Ras Al Khaimah and seamlessly cater to the regional markets.”  

RAKEZ is home to nearly 1,000 F&B companies, spanning diverse sectors within the industry, including F&B trading, catering and F&B services, distribution and logistics, as well as F&B manufacturing, among many others. At this year’s Gulfood, RAKEZ is showcasing its tailored business set-up solutions designed to support over F&B 5,500 exhibitors and investors from more than 190 countries in leveraging the opportunities presented by Ras Al Khaimah’s dynamic economic landscape and the wider UAE market.  

RAKEZ’s regular participation in Gulfood is a testament to its ongoing commitment to the F&B industry, offering unmatched opportunities for businesses to connect, collaborate, and create a sustainable future for food globally.

Plastic bottles are collected inside the fish-shaped sculpture and are regularly removed

Kuwait’s Scientific Center stated that it is committed to recycling and sorting waste based on its type, providing containers for electronic waste, paper waste, and clothing waste, all with the goal of preserving the environment.

Speaking to KUNA, the Center’s General Manager Msaed Al-Yaseen said that the recycling program at the center is a key initiative to address the problem of plastic pollution, aiming to educate the community, particularly highlighting the risks it poses to marine life.

The center collaborates with various entities in the country to preserve the environment and achieve sustainable development goals by promoting environmental awareness through recycling programs and utilizing waste to generate economic returns for the state, he underlined.

Al-Yaseen clarified that in 2020, the center created a sculpture titled “The Last Catch,” resembling the iconic Kuwaiti zubaidi fish, serving as a collection point for plastic bottles, promoting recycling to mitigate the environmental hazards of plastic pollution.

He mentioned that the sculpture was a collaboration with Kuwaiti artist Jassem Al-Nashmi under the center’s sustainability program, an initiative that aims to enhance environmental preservation and awareness of pollution effects.

Plastic bottles are collected inside the fish-shaped sculpture and are regularly removed through a partnership between The Scientific Center and a local recycling company, he stated.

After collecting the plastic bottles, the company sorts, cuts, and washes them, transforming them into plastic pellets ready for use in various industries then exporting some of the processed material to other countries.

He emphasized that environmental cleanliness, particularly the oceans being free from plastic materials, is a global goal, pointing out that waste recycling and pollution control have become international demands due to the significant threat these materials pose to the seas and oceans.

He underscored the need to spread environmental awareness and community consciousness to preserve the environment from pollution risks, achieving environmental sustainability aligned with sustainable development goals.

Whether you’re just getting into trading or you’re a seasoned professional, knowing how to diversify and manage your portfolio is something you must be doing well. It’s estimated that roughly 18% of British adults trade stocks in the UK, proving just how popular it can be.

However, putting all your money into stocks doesn’t always guarantee a big return on investment. One asset you could trade instead is the global oil market and while profits aren’t guaranteed in this market either, there are several strategies you can incorporate into your trading to give your chances of success a boost.

So, if you want to add a new asset to your portfolio, our guide below is filled with top tips for you to try when trading the global oil market

Why should I trade oil?

Oil is great to trade because of its high liquidity and volatility, which gives traders an opportunity to trade any fluctuations to return a potentially huge profit. Some of the best oil instruments that you can trade include Brent and WTI, which we’ll cover later on.

How can I successfully trade the global oil market?

So, if oil seems like a commodity you’d like to add to your trading portfolio, make sure you take the right steps to give yourself the best chance of being successful. Some of the ways you can do this include:

1. Learn what moves crude oil – Understanding what impacts the supply and demand of the oil industry can help to make more informed decisions.
2. Understand the people that invest in it – The oil market is heavily invested by retail traders who tend to put money into assets when they make front-page headlines. This can subsequently lead to high climaxes and collapses, which can put your money at risk or lead to huge profits.
3. Inspect the long-term chart – Take a look at the long-term chart of the oil market to see when it tends to rise and fall, and what may have caused this. This can help you make more informed investments should something happen in the world.
4. Use a funded trading platform to develop your knowledge and skills – This can help you understand when to trade oil and when to avoid buying, making your investments safer.
5. Choose between Brent and WTI Crude Oil – Pick the one you’d prefer to trade and become an expert in that particular asset. Brent is typically used as the benchmark of two-thirds of all oil pricing and WTI is the preferred pricing model in the U.S.

Ready to start trading oil? Get started today and begin reaping the reward of your well-informed trades!

Serial entrepreneur, Ryan Jackson, has today launched the revolutionary recruitment consultancy, Culture First Recruitment, in Dubai, promising to redefine the rules of recruitment by placing ‘culture’ at the forefront of talent acquisition.

Unlike traditional approaches, Culture First Recruitment believes that cultural fit is the driving force behind an organisation’s success rather than purely focusing on a candidate’s academic or experience credentials. In a world where ‘culture’ often remains a buzzword, Culture First Recruitment is rewriting the narrative and positioning culture at its heart to build high-performing teams – propelling businesses to new heights.

Culture First is already working in the education sector in the UAE to deliver exceptional talent to meet the needs of education providers. The business also works to find culturally aligned Emirati citizens to meet inclusion figures.

Ryan Jackson, CEO and Founder of Culture First Recruitment and internationally recognised serial entrepreneur, author and motivational speaker, said on the launch of Culture First Recruitment:

“We are delighted to see Culture First Recruitment already thriving in Dubai. As a business, we are committed to creating a future where cultural alignment becomes the cornerstone of recruitment.

“Culture First Recruitment is driven by the belief that a workforce united by shared values and a common cultural vision, becomes a powerhouse of creativity, innovation, and overall excellence.”

Jackson, who relocated from the UK to Dubai in 2022 after spending two years in Bali, has two children currently experiencing the UAE education system with outstanding results. Jackson commented “At Culture First, we recognise just how important finding the right fit, is. And this is none more prevalent than in the education sector. With a mixture of cultures, faiths, languages, and backgrounds, finding the right talent to work with such a varied room of students is imperative. I’ve seen first-hand the amazing education system on offer in Dubai and I’m excited to be able to work within such a growing sector to bring even more talented individuals to the forefront.”

The mission of Culture First Recruitment is clear—to elevate the recruitment game and embrace a future where cultural alignment reigns supreme, revolutionising the hiring landscape in the UAE.

As part of Culture First Recruitment’s launch in the UAE, the founder, Ryan Jackson is offering businesses the opportunity to join a FREE webinar every Wednesday on how to master talent acquisition. To sign up for the free webinar, please visit here.

Culture First Recruitment invites businesses in Dubai to experience a recruitment journey like never before. For organisations looking to build teams that not only excel individually but also seamlessly collaborate as a cohesive unit, Culture First Recruitment is the partner of choice. Please visit culturefirstrecruitment.com for more information.

For those looking to find a new career with a business that values culture, please visit: culturefirstrecruitment.com/jobs