Cyber security threats and greater restrictions in global data flows are among the 10 top geopolitical risks in 2021, a consultancy revealed in its latest report.
As more people work remotely and stay online for longer due to coronavirus-related restrictions, there will be an increase in people's exposure to cyber attacks, Eurasia Group said in its Top risks 2021 report.
This year will see cyber crimes creating “unprecedented technological and geopolitical risk”, the think-tank predicted.
“Hundreds of millions of people will continue to work, shop, receive an education, and socialise from home in 2021 … much of this activity uses less secure home computers and connections, giving bad actors more vulnerabilities to exploit,” it said.
The cyber security market is forecast to be worth $363.05 billion in 2025, almost 125 per cent more than the amount spent last year, according to Mordor Intelligence, a research consultancy.
The market is projected to grow at an annual growth rate of 14.5 per cent over the next five years.
The widespread roll-out of fifth-generation technology and an increase in the number of connected devices will increase opportunities for cyber criminals, the report said.
“There is no broadly accepted industry standard for ensuring low-cost, commodity devices are secure and regularly updated to protect against hacking,” it added.
There are also no rules for governments and the private sector globally setting out state behaviour in cyberspace, leading to countries and companies relying on "unproven strategies such as targeted economic sanctions and 'naming and shaming'".
Mistrust in the online sphere could also lead to a “slowdown or halt” in the free flow of sensitive data across borders that could raise costs for businesses, the report added, causing friction for popular apps and digital business models.
Although the risks begin with the US and China, they do not end there, Eurasia Group said, as governments globally become increasingly concerned about who is accessing their citizens' data.
The outgoing US administration’s attempts to ban the popular Chinese smartphone apps TikTok and WeChat, coupled with India’s moves to blacklist dozens of Chinese apps, risk exacerbating what is seen as a damaging trend.
“When the world’s biggest economy [the US] and its most populous democracy [India] try to ban apps over these concerns, it encourages other countries to do the same.
“Authorities around the world have become increasingly preoccupied that their citizens’ personal data could fall into the hands of adversaries who could use it to improve their AI [artificial intelligence] algorithms, influence public opinion, or commit blackmail.”
Other risks highlighted include a divided US, climate change, the ongoing US-China trade dispute, the lasting effects of Covid-19 and the effects of low oil prices on countries in the Middle East.
The push for net-zero emissions targets will create 'enormous' opportunities for private capital, but the ultimate winners and losers will be determined as much by political factors as market forces, the report warned.
The renewable energy sphere could move from an area "of global cooperation to an arena of global competition", as the US competes with China directly in clean technology sectors such as batteries and power control systems.
"Some parts of the clean energy supply chain will come under bifurcation pressures not unlike those seen in 5G, particularly where the security of ever-more complex grids is involved," the report said.
Although 2021 started with positive news on Covid-19 vaccines, the pandemic will leave a “legacy of high debt, displaced workers and lost trust”, it said.
Energy-producing countries in the Middle East and North Africa faced a collapse in global energy demand in 2020, which left left governments from Algeria to Iran facing cash shortfalls and weakened economies at the same time as they needed to handle health crises.
Energy prices are likely to remain low this year, the report said, keeping the pressure on governments in some countries that were already facing instability before Covid-19 struck.
“Many will cut spending, damaging nascent private sectors and fuelling unemployment.”
DUBAI%20BLING%3A%20EPISODE%201
%3Cp%3E%3Cstrong%3ECreator%3A%20%3C%2Fstrong%3ENetflix%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%20%3C%2Fstrong%3EKris%20Fade%2C%20Ebraheem%20Al%20Samadi%2C%20Zeina%20Khoury%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%202%2F5%3C%2Fp%3E%0A
War 2
Director: Ayan Mukerji
Stars: Hrithik Roshan, NTR, Kiara Advani, Ashutosh Rana
Rating: 2/5
The specs
Engine: 2.0-litre 4-cylinder turbo
Power: 240hp at 5,500rpm
Torque: 390Nm at 3,000rpm
Transmission: eight-speed auto
Price: from Dh122,745
On sale: now
Killing of Qassem Suleimani
Tips for used car buyers
- Choose cars with GCC specifications
- Get a service history for cars less than five years old
- Don’t go cheap on the inspection
- Check for oil leaks
- Do a Google search on the standard problems for your car model
- Do your due diligence. Get a transfer of ownership done at an official RTA centre
- Check the vehicle’s condition. You don’t want to buy a car that’s a good deal but ends up costing you Dh10,000 in repairs every month
- Validate warranty and service contracts with the relevant agency and and make sure they are valid when ownership is transferred
- If you are planning to sell the car soon, buy one with a good resale value. The two most popular cars in the UAE are black or white in colour and other colours are harder to sell
Tarek Kabrit, chief executive of Seez, and Imad Hammad, chief executive and co-founder of CarSwitch.com
What is a robo-adviser?
Robo-advisers use an online sign-up process to gauge an investor’s risk tolerance by feeding information such as their age, income, saving goals and investment history into an algorithm, which then assigns them an investment portfolio, ranging from more conservative to higher risk ones.
These portfolios are made up of exchange traded funds (ETFs) with exposure to indices such as US and global equities, fixed-income products like bonds, though exposure to real estate, commodity ETFs or gold is also possible.
Investing in ETFs allows robo-advisers to offer fees far lower than traditional investments, such as actively managed mutual funds bought through a bank or broker. Investors can buy ETFs directly via a brokerage, but with robo-advisers they benefit from investment portfolios matched to their risk tolerance as well as being user friendly.
Many robo-advisers charge what are called wrap fees, meaning there are no additional fees such as subscription or withdrawal fees, success fees or fees for rebalancing.
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The%20specs
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The biog
Name: Mohammed Imtiaz
From: Gujranwala, Pakistan
Arrived in the UAE: 1976
Favourite clothes to make: Suit
Cost of a hand-made suit: From Dh550
The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
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Red flags
- Promises of high, fixed or 'guaranteed' returns.
- Unregulated structured products or complex investments often used to bypass traditional safeguards.
- Lack of clear information, vague language, no access to audited financials.
- Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
- Hard-selling tactics - creating urgency, offering 'exclusive' deals.
Courtesy: Carol Glynn, founder of Conscious Finance Coaching
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
The specs: 2018 Nissan 370Z Nismo
The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
Fuel consumption, combined: 10.5L / 100km
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The specs
Engine: 1.5-litre turbo
Power: 181hp
Torque: 230Nm
Transmission: 6-speed automatic
Starting price: Dh79,000
On sale: Now
How to help
Send “thenational” to the following numbers or call the hotline on: 0502955999
2289 – Dh10
2252 – Dh 50
6025 – Dh20
6027 – Dh 100
6026 – Dh 200
Indoor cricket in a nutshell
Indoor Cricket World Cup – Sep 16-20, Insportz, Dubai
16 Indoor cricket matches are 16 overs per side
8 There are eight players per team
9 There have been nine Indoor Cricket World Cups for men. Australia have won every one.
5 Five runs are deducted from the score when a wickets falls
4 Batsmen bat in pairs, facing four overs per partnership
Scoring In indoor cricket, runs are scored by way of both physical and bonus runs. Physical runs are scored by both batsmen completing a run from one crease to the other. Bonus runs are scored when the ball hits a net in different zones, but only when at least one physical run is score.
Zones
A Front net, behind the striker and wicketkeeper: 0 runs
B Side nets, between the striker and halfway down the pitch: 1 run
C Side nets between halfway and the bowlers end: 2 runs
D Back net: 4 runs on the bounce, 6 runs on the full
