Author: MIL-OSI Publisher

Registrations are open for the 24th annual Aboriginal Elders Olympics, where more than 200 Aboriginal Elders from across NSW will take part in the 2026 event.

Set to take place in Yamba, NSW, the 2026 Aboriginal Elders Olympics will be hosted by the reigning champions, the Biirrinba Coastal Emu’s on Yaegl Country.

New South Wales Aboriginal Land Council (NSWALC) is proud to support this event for another year through a Community Grant to assist with venue hire and event costs associated with the Olympics. For the first time, NSWALC Councillors will join forces and submit a team to take on the reigning champions.

The annual event will be held on Wednesday, 11 and Thursday, 12 March 2026 and give teams from across NSW the opportunity to claim the Aboriginal Elders Olympics title and host the 2027 event. Wednesday will provide an opportunity for a meet and greet with participants and a cultural tour of Yaegl Country.

NSWALC Chairperson, Cr Raymond Kelly, said NSWALC is proud to be supporting the event, which provides an important opportunity for Elders to come together and celebrate Culture, connection and Community.

“Elders are such an important part of our communities – their wisdom, strength and guidance continue to inspire us all,” said Cr Kelly.

“The Elders Olympics is a major event on our calendar and a wonderful way to celebrate their spirit and the role they play in keeping Culture strong.”

“I am looking forward to seeing our Elders come together on Yaegl Country next year.”

NSWALC Councillor for the North Coast Region, Diane Randall, was excited for the event to be held within her region and is proud to be involved again in the 2026 Aboriginal Elders Olympics.

“This year’s Aboriginal Elders Olympics will be an exciting time to connect with family, friends and meet new people. NSWALC is excited to be fielding our very first team and participating in such a wonderful event,” said Cr Randall.

Families and friends of Elders competing are encouraged to attend the event and cheer on their team.

The event will take place at Raymond Laurie Sports Centre, 78 Angourie Rd, Yamba. Registrations are now open and will close on Friday 30 January. Secure your team’s spot early by contacting Noeline Kapeen at kapeennoeline@gmail.com or visit https://alc.org.au/elders-olympics-2026/ for more information.

January 12  2026 – The latest confrontation between President Donald Trump and the US Federal Reserve is pushing investors toward assets insulated from political influence, with Bitcoin “a beneficiary”.

This is the analysis from the CEO of one of the world's largest independent financial advisory organizations as Fed Chair Jerome Powell confirms he faces a federal criminal investigation linked to his congressional testimony and the $2.5 billion renovation of the central bank's headquarters.

It follows years of increasing public pressure from President Trump for faster and deeper interest-rate cuts.

Nigel Green of deVere Group says: “Markets recognize a deeper issue here than a policy disagreement.

“Pressure on the central bank of the world's largest economy carries global consequences.

“Confidence in monetary governance in the United States anchors financial stability far beyond its borders.

“When that confidence weakens, capital moves quickly toward assets designed to exist beyond political reach.”

He continues: “Legal scrutiny of the chair of the most influential central bank on earth, set against sustained political demands on interest rates, sends a signal investors do not ignore.

“Bitcoin, typically, responds positively to precisely this kind of signal.”

The Federal Reserve's role reaches far beyond US borders. Its decisions shape global interest-rate cycles, capital flows, currency stability and risk pricing across continents, influencing trading desks, treasury teams, and policymakers across emerging markets.

“Monetary credibility in the US sets the tone for financial credibility everywhere,” notes the deVere CEO.

“Financial systems operate on trust in institutions. The Fed anchors that trust for the dollar, for global bond markets, for equity valuations and for cross-border investment flows.

“When legal pressure appears alongside political frustration over interest rates, investors reassess the durability of that anchor.”

This reassessment has already translated into market moves.

“Equity futures have softened on concern around policy uncertainty. Gold has climbed to record territory as investors seek insulation from political risk.

“The US dollar has weakened against major peers as traders recalibrate faith in the institution behind it. Bitcoin has risen alongside these shifts.”

He adds: “Repositioning lifts assets built on independence from political control. Bitcoin fits that description better than any financial instrument in circulation. Its fixed supply, rule-based issuance and decentralised governance give it qualities that fiat currencies cannot replicate. Presidents cannot adjust its supply. Legislatures cannot rewrite its protocol. Central banks cannot influence its monetary settings.”

During periods of institutional strain, these features move from abstract theory to practical advantage. The current confrontation places the Fed's autonomy at the centre of market psychology.

“Investors understand why autonomy matters. Monetary credibility keeps inflation expectations contained, stabilises bond yields and anchors currency confidence. When credibility comes under strain, defensive behavior takes over.”

Gold has traditionally filled that defensive role. Bitcoin now shares that space.

Institutional adoption has accelerated that transition. Spot Bitcoin ETFs, regulated custody solutions and deeper derivatives markets allow pension funds, asset managers and family offices to move rapidly when monetary risk rises.

“In past decades, political pressure on central banks drove flows almost exclusively into gold and defensive currencies,” he says.

“Today, Bitcoin absorbs part of that same demand.”

The clash between President Trump and the Fed reinforces a broader trend shaping global markets.

Nigel Green notes: “Fiscal pressures are rising, public debt continues to expand, political incentives increasingly favor looser monetary conditions, and central banks face louder demands to support growth at any cost.

“Each episode highlighting tension between elected leaders and monetary authorities strengthens the case for assets governed by code rather than discretion. Bitcoin embodies that principle.”

Markets, he says, trade on direction rather than verdicts.

“Investors don't wait for courtroom outcomes or formal policy shifts. Perception of direction drives pricing.

“Direction now points toward deeper politicisation of monetary debate in the United States. Bitcoin prices that future quickly.”

The dollar's global role adds further weight to the moment. Reserve-currency status rests on institutional trust, especially trust in the independence of the central bank of the world's largest economy.

“When headlines suggest pressure on that independence, hedging begins,” comments the CEO. “Some capital flows into gold, some into defensive currencies, and a growing share moves into Bitcoin.”

Emerging markets are watching closely.

“Any erosion of confidence in US monetary governance increases volatility in currencies across Latin America, Africa and Southeast Asia,” he explains.

“Investors in those regions often prefer assets beyond sovereign influence during periods of systemic uncertainty. Bitcoin fits that preference.”

He concludes: “Financial history shows a consistent pattern. When political power edges closer to monetary control, investors seek distance from that power. In the modern era, many choose Bitcoin.

“Currently rising prices reflect more than momentum.”

deVere Group is one of the world's largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients.  It has a network of offices around the world, more than 80,000 clients, and $14bn under advisement.

January 12 2026 – The independence of the Federal Reserve, the world's largest economy's central bank, is under attack and markets won't stand for it, warns the CEO of one of the world's largest independent financial advisory organizations.

The warning from Nigel Green of deVere Group comes as Chairman Jerome Powell says he is now under federal criminal investigation related to the $2.5 billion renovation to the central bank's headquarters and his congressional testimony about that.

The deVere Group CEO says: “This appears to be thinly veiled pressure on the Chair from the pressure about interest rates, which Trump has long been championing to be cut, and not about a refurb at the Fed's HQ.”

He continues: “Using legal mechanisms to lean on the leadership of the Federal Reserve crosses a line that matters enormously to markets.

“Investors price assets on the assumption that US monetary policy is set by economic evidence, not by political will. When that assumption weakens, risk rises everywhere, immediately and visibly.”

Stock futures for the Dow Jones, S&P 500 and Nasdaq all declined sharply as traders priced in the heightened risk around monetary policy uncertainty and institutional credibility.

Safe-haven assets surged as confidence in traditional monetary guardrails wavered. Gold prices hit historic highs, climbing above $4,600 per ounce as investors sought refuge from political risk surrounding central bank autonomy.

The US dollar weakened as well, with the dollar index falling and losses against major currencies including the euro and Swiss franc, signalling diminished confidence in the world's dominant reserve currency amid concerns about monetary policy credibility.

Nigel Green comments: “Central bank independence stands at the core of financial stability.

“It protects long-term economic health from short-term political cycles.

“Once political pressure begins to shape interest-rate decisions, inflation expectations become unanchored, bond yields rise to compensate for uncertainty, and stock markets face higher volatility across the board.”

Tech and growth stocks, which depend heavily on predictable discount rates, become more vulnerable to sudden repricing. Banks and insurers face wider spreads as confidence in monetary discipline softens.

Property and infrastructure projects, built on long-dated financing models, confront higher capital costs almost overnight.

“No major sector escapes when credibility in monetary governance comes under strain,” warns the deVere CEO.

“Global consequences follow fast. The Fed sets the tone for financial conditions far beyond US borders. Capital flows into Europe, Asia and emerging markets respond directly to Fed signals.

“When those signals appear subject to political pressure, currencies in Latin America and Southeast Asia weaken, borrowing costs rise for governments and companies carrying dollar debt, and financial stress intensifies in economies least able to absorb shocks.”

The dollar's position as the world's reserve currency depends on institutional trust.

“The trust is grounded in the belief that the Fed acts independently to safeguard price stability and financial resilience,” says Nigel Green.

“History teaches that countries that allow political leaders to dominate central banks pay a heavy economic price.

Inflation becomes harder to control, currency credibility erodes, long-term growth slows as investment retreats and living standards suffer as purchasing power declines and financial volatility rises.”

He affirms: “Federal Reserve independence is not an abstract principle debated only in academic circles.

“It directly shapes mortgage rates for American households, borrowing costs for global corporations, the health of pension funds, and the stability of banking systems worldwide. Weakening that independence puts all of those at risk simultaneously.

“International investors and central banks hold trillions of dollars in US assets because they trust the institutional strength behind them. Once doubt enters that equation, diversification accelerates.

“Capital begins to look for safer jurisdictions where monetary policy is insulated from political influence. Such shifts alter global financial architecture in ways that are difficult to reverse.”

Markets tolerate political theatre. Markets do not tolerate interference in monetary policy. When legal pressure appears to be applied to influence rate decisions, confidence erodes rapidly. Rebuilding that confidence takes years, sometimes decades.

“The Federal Reserve remains a cornerstone of the global financial system. Its authority underpins stability across equities, bonds, currencies and commodities. Its credibility supports growth in both developed and emerging economies.

“Any sustained attempt to weaken that authority carries consequences far beyond Washington,” concludes the deVere CEO.

deVere Group is one of the world's largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients.  It has a network of offices around the world, more than 80,000 clients, and $14bn under advisement.

The Coincident and Leading Global Barometers rise in January, although more slowly than at the end of last year. The result shows moderate growth for the world economy. However, the potential economic impact of United States military action in Venezuela on the Western Hemisphere is not yet reflected in the data.

In January, the Coincident and Leading Global Economic Barometers rise by 0.9 and 0.5 points, reaching 102.0 and 102.1 points, respectively. Across the different regions, contributions were balanced, with Asia, Pacific & Africa contributing positively to both results, while the other regions varied between positive contribution and stability.

“This is the first time in years that all the sectors and major regions defined in the coincident version of the Global Barometer have exceeded their respective long-term averages. Of the leading indicators, only those for the Western Hemisphere and retail and wholesale did not do the same. Despite geopolitical tensions, the world economy is slowly recovering. However, the outlook remains cautious, as the leading indicator is barely outperforming the coincident indicator”, comments KOF Director Jan-Egbert Sturm.

Coincident Barometer – regions and sectors

The 0.9-point rise in the Coincident Barometer in January results from the positive contribution of 0.5 point from Asia, Pacific & Africa and 0.4 point from the Western Hemisphere. The indicator for Europe remains stable in the month. With this result, all regions register levels above 100 points and show a gradual recovery development.

Among the coincident sector indicators, only Wholesale and Retail Trade falls in the month. All sectors also show levels above 100 points.

Leading Barometer – regions and sectors

The Leading Global Barometer rises by 0.5 point in January, with Asia, Pacific & Africa and Europe contributing moderately and positively by 0.3 and 0.2 point, respectively. The Western Hemisphere, in turn, remains stable in the month. With this result, only the Western Hemisphere is below 100 points. The Leading Global Barometer leads the world economic growth rate cycle by three to six months on average.

Among the leading sector indicators, all rise in the month, except for Industry, which remains constant in January. The Services sector rises and reaches its highest level since January 2022 (107.6 points).

January 9 2026 – US employers added just 50,000 jobs in December, and with hiring momentum fading fast, the Federal Reserve now faces mounting pressure to accelerate interest-rate cuts at its next meeting rather than continue with cautious, incremental easing.

This is the warning from Nigel Green, CEO of global financial advisory giant deVere Group, as today's labor data transforms the rate debate.

“The Federal Reserve already began easing, but December's employment numbers need to change the nature of that easing,” he says.

“Early cuts were about calibration. What comes next is about protection. When job creation slows to this level, policy cannot remain incremental. The pace must increase.”

He adds: “This moment demands a new urgency. The risk profile of the US economy has shifted, and monetary policy must move faster to keep up.”

Hiring slowed sharply through the final quarter, leaving last year among the weakest periods for employment expansion outside downturn conditions.

Employers across multiple sectors are delaying recruitment plans, citing cost pressures, policy uncertainty, and tighter financial conditions.

“Businesses are not shedding workers at scale, yet they're refusing to add new ones,” says the deVere CEO.

“This is how slowdowns deepen. Momentum fades quietly before damage becomes visible.”

The unemployment rate dipped to 4.4%, yet Nigel Green argues that figure masks the true state of labor demand.

“Unemployment numbers lag reality,” he says.

“Payroll growth tells the forward story. Hiring at this pace points to fragility, not strength. Participation remains soft, pipelines are thin, and confidence is slipping.”

Inflation trends strengthen the case for faster action. Price pressures have eased significantly from their peaks, with goods inflation cooling and services inflation showing consistent moderation.

“The inflation fight has moved into a different phase. Rates designed for crisis control now sit on top of an economy losing traction. Holding policy tight under these conditions magnifies the downside risk.”

He continues: “Central banking works best when action stays ahead of damage. Delays convert manageable slowdowns into extended stagnation.”

Financial conditions remain restrictive for households and firms, particularly outside large corporates.

“Credit remains expensive,” Nigel Green explains. “Small and mid-sized businesses feel it first. When borrowing costs stay elevated, investment slows, hiring freezes follow, and confidence drains from the system.”

Structural changes are also reshaping labor demand.

“Automation and AI improve productivity, yet they suppress near-term job creation,” he notes.

“Economic policy must reflect that shift. Labor markets no longer respond to rate changes the way they did a few years ago.

“The Fed will continue easing, but the tempo needs to changes now,” he says. “Incremental moves belong to a different stage of the cycle. December's data forces acceleration.”

Nigel Green believes the broader path for rates is becoming clear.

“Three reductions before the end of the year stands as the base case,” he says.

“Employment weakness, cooling inflation, and restrictive financial conditions create a powerful case for faster adjustment.”

Delaying action carries consequences, he warns.

“History teaches us that central banks rarely get it wrong from moving a little early.

December's employment report, therefore, marks a defining inflection point.

He concludes: “Economic signals now argue for speed. The task ahead involves protecting momentum before erosion becomes embedded. The jobs data leaves little room for delay.”

deVere Group is one of the world's largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients.  It has a network of offices around the world, more than 80,000 clients, and $14bn under advisement.

Statement by Dr. David Obura, Chair of the Intergovernmental Platform on Biodiversity and Ecosystem Services (IPBES) on 8 January 2026

The Intergovernmental Science Policy Platform on Biodiversity and Ecosystem Services (IPBES) regrets the deeply disappointing news of the United States' intention to withdraw its participation in IPBES, along with more than 60 other international organizations and bodies.
 
The United States is a founding member of IPBES and scientists, policymakers and stakeholders – including Indigenous Peoples and local communities – from the United States have been among the most engaged contributors to the work of IPBES since its establishment in 2012, making valuable contributions to objective science-based assessments of the state of the planet, for people and nature. The contribution of US experts ranges from leading landmark Assessment Reports, to presiding over negotiations, serving as authors and reviewers, as well as helping to steer the organization both scientifically and administratively.
 
Decision-makers in the United States – at all levels and in all spheres of society – have also been among the most prolific users of the work produced by IPBES to help better inform policy, regulations, investments and future research.
 
On behalf of the global IPBES community, I want to express our sincere thanks for all these invaluable contributions, and our determination to continue exploring avenues and opportunities for future engagement.
 
IPBES has not yet received any formal notification directly from Government of the United States but anticipates that the intention expressed to withdraw will mean that the United States will soon cease to be a member of IPBES.
 
While it is clearly the prerogative of Governments to withdraw from global processes, like those of IPBES, it is important to remember that this does not change the science or the relevance of that science to the lives and livelihoods of people in every community, in every part of the world.
 
Unfortunately, we cannot withdraw from the fact that more than 1 million species of plants and animals face extinction (IPBES Global Assessment, 2019). Nor can we change the fact that the global economy is losing as much as $25 trillion per year in environmental impacts (IPBES Nexus Assessment, 2024) or restore the missed opportunities of not acting now to generate more than $10 trillion in business opportunity value and 395 million jobs by 2030 (IPBES Transformative Change Assessment, 2024).
 
The mandate of IPBES is as clear as it is important: to objectively and without prescription, provide the most credible science and evidence about biodiversity to all decision makers and actors – for better informed decisions, policy and action. Our commitment to this goal – as the whole IPBES community – remains unwavering. Science and policy for people and nature.

About IPBES:

Often described as the “IPCC for biodiversity”, IPBES is an independent intergovernmental body comprising more than 150 member Governments. Established by Governments in 2012, it provides policymakers with objective scientific assessments about the state of knowledge regarding the planet's biodiversity, ecosystems and the contributions they make to people, as well as the tools and methods to protect and sustainably use these vital natural assets. For more information about IPBES and its assessments visit www.ipbes.net

January 8 2026 – OPEC's grip on global oil markets could be facing its most serious test in years as US refiners move to seize control of Venezuelan crude, asserts the CEO of global financial advisory giant deVere Group.

Nigel Green's analysis comes as Washington ramps up asserting authority over Venezuela's oil sector, and as American refiners are seen to be positioning themselves to become the new power brokers in a market long dominated by producer alliances.

Oil traders and US refiners are scrambling to secure Venezuelan supply after reports that Chevron is seeking a wider operating licence and Citgo could resume purchases of crude.

The deVere chief executive comments: “US firms are demanding explicit guarantees from Washington before committing fresh capital, while Chinese oil companies are asking Beijing how to protect their interests.

“The message is unmistakable. Control of Venezuelan oil is shifting rapidly from boardrooms to governments.”

If the Trump administration expands permissions, the impact will be immediate and structural. US Gulf Coast refineries are among the few in the world designed to process Venezuela's heavy sour crude efficiently.

Years of sanctions have kept those barrels sidelined, forcing refiners to rely on alternative heavy grades that are now increasingly scarce.

Sanctions on Iran and Russia have tightened the market further, leaving refiners competing for a shrinking pool of suitable feedstock.

“Guaranteed access to Venezuelan crude would change that overnight. For US refiners, it would mean lower input costs, stronger margins, and a strategic advantage competitors cannot easily replicate.

“For the global market, it would mean a profound shift in where pricing power sits.”

For decades, OPEC (Organization of the Petroleum Exporting Countries) has shaped oil markets through coordinated production decisions.

Nigel Green says: “This influence remains significant, but it weakens the moment access to supply becomes governed less by cartel policy and more by political authorization. OPEC controls barrels. Washington controls licences. When those two forces collide, the balance of power is bound to start to tilt.

“Venezuelan oil now sits at the centre of that collision.”

The country holds the world's largest proven crude reserves, yet its output remains constrained by sanctions, infrastructure decay, and diplomatic isolation.

“Any move by the US to loosen restrictions would instantly elevate Venezuelan barrels from distressed supply to strategic commodity. Companies allowed to lift that oil gain more than commercial and geopolitical advantage.”

This is why Chinese oil firms are seeking guidance from Beijing. Their concern is not theoretical. It reflects a recognition that access to Venezuelan energy is becoming a political contest rather than a market transaction.

“If Washington determines who can buy, ship, and refine Venezuelan crude, then global energy flows begin to follow diplomatic lines.”

The deVere CEO notes: “For OPEC, this creates an uncomfortable reality. The cartel can still adjust output targets, but it cannot override US sanctions policy; it can't dictate licensing decisions; and it can't prevent American refiners from consolidating influence if regulatory clearance is granted.

“This doesn't mean OPEC becomes irrelevant. It means its dominance faces a rival force it cannot control.”

For markets, this marks the return of energy power politics in its most modern form.

“Not through embargoes or price wars, but through licences, waivers, and diplomatic leverage. The battlefield shifts from production quotas to regulatory desks in Washington.”

He concludes: “If Chevron secures broader permissions and Citgo resumes purchases, the shift will be unmistakable.

“US refiners will move from being price-takers in a cartel-driven system to gatekeepers in a politically governed one.

“OPEC will still matter, but it will no longer stand alone at the centre of oil market power. This matters for investors globally.”

08 JANUARY 2026 – Equinor awards framework agreements to seven supplier companies with a total value of around NOK 100 billion. These agreements lay the foundation for safe and competitive operations at Equinor’s offshore installations and onshore plants in the years to come.

Equinor awards twelve new framework agreements for maintenance and modifications on the company’s offshore installations and onshore plants. The agreements commence in the first half of 2026, have a duration of five years, and include extension options of three and two years. The total annual value is approximately NOK 10 billion. The agreements create predictability and ripple effects for the Norwegian supplier industry across the country.

“The Norwegian continental shelf will remain the backbone for Equinor for a long time. Our ambition is to maintain a high production level and predictable energy deliveries to Europe towards 2035. At the same time, the shelf is entering a mature phase that will require new solutions. To succeed, we must, together with the supplier industry, find new ways of working that strengthen our competitiveness. These agreements facilitate long-term collaboration and continuous improvement on core tasks at Equinor’s offshore installations and onshore facilities in Norway,” says Kjetil Hove, executive vice president for the Norwegian continental shelf at Equinor.

“These are strategically important agreements, and collectively among the largest Equinor has awarded. The agreements will ensure long-term activity and value creation across Norway, with job creation estimated at around 4,000 man-years at the suppliers. The goal is close, long-term, and predictable cooperation that strengthens the culture for safety and security and our shared competitiveness. Together, we will work safer and smarter, and scale up the use of new technology,” says Jannicke Nilsson, chief procurement officer at Equinor.

To support the ambition of maintaining production around 1.2 million barrels of oil equivalent per day (2020 level) on the Norwegian continental shelf towards 2035, Equinor plans to:

• Invest about NOK 60–70 billion annually in increased recovery and new fields on the Norwegian continental shelf.
• Drill around 250 exploration wells and about 600 wells for increased recovery.
• Perform 300 well interventions annually and around 2,500 modification projects.
• Mature and develop over 75 subsea developments that can be tied to existing infrastructure.
• Reduce own greenhouse gas emissions towards nearly 50% by 2030 (compared to 2015 figures), while delivering stable and predictable energy supplies to Europe.
• Invest in maintenance and modifications at installations and onshore facilities to strengthen safety and maintain high regularity, while reducing climate and environmental footprints.

The agreements cover seven suppliers, three of which are new players in maintenance and modifications.

Agreements and allocation

Maintenance and modifications for installations on the Norwegian Continental Shelf (NCS):

• Aibel AS: Sleipner, Gudrun, Draupner, Gullfaks, Visund, Oseberg, Martin Linge, Aasta Hansteen, Norne, Johan Castberg and Snøhvit.
• Aker Solutions AS: Johan Sverdrup, Grane, Troll, Kvitebjørn, Valemon, Kristin, Åsgard, Heidrun and Njord.
• Wood Group Norway AS: Snorre.

Maintenance and modifications for onshore plants in Norway:

Aibel AS: Hammerfest LNG, Mongstad, Kårstø and Tjeldbergodden.
Aker Solutions AS: Øygarden (Kollsnes and Sture).

Large modifications (extended projects) for installations on the NCS and the onshore plants:

Aibel AS, Aker Solutions AS, Apply AS, Wood Group Norway AS: The suppliers are qualified as bidders for upcoming tenders.

Maintenance and simple projects for selected installations on the NCS:

• Rosenberg Worley AS: Sleipner and Johan Sverdrup.
• Head Energy AS: Gullfaks, Oseberg and Troll.
• IKM Gruppen AS: Åsgard and Heidrun.

The final portfolio distribution will be assigned when the contracts are signed. Signing is planned in week four.

What is maintenance and modifications?

Maintenance and modifications involves planning, engineering, installation, and completion of modification and maintenance projects, as well as maintenance on installations on the Norwegian continental shelf and onshore plants.
Many different disciplines are involved in the work, including mechanical, electrical, and automation. The work involves approximately 4,000 direct man-years.
The last time Equinor entered into contracts for VEM was in 2015.

The World Economic Situation and Prospects 2026 will present global and regional economic outlooks for the year ahead, highlighting the need for global cooperation and policies to support growth and advance progress towards the Sustainable Development Goals.

The report finds that the world economy faces the risk of a prolonged period of slower growth compared with the pre-pandemic era, with current growth failing to deliver broad-based development gains, leaving many countries, communities, and households behind.

Geopolitical risks, continuing policy uncertainty and fiscal challenges cloud the global economic outlook. In 2025, a sharp rise in United States tariffs unsettled the trade environment, but the world economy proved more resilient than expected. In 2026, global growth is expected to moderate as weaker international trade is only partially offset by continued support from monetary easing.

Inflation has eased considerably in most economies, yet rising cost of living continues to strain household budgets and exacerbate inequality. Risks of renewed supply disruptions remain elevated — stemming from conflicts, climate related disasters, trade fragmentation, and geopolitical tensions — adding to global uncertainty.

In East Asia, economic growth is expected to moderate in the near term. Export performance in 2025 benefited from front-loading of shipments ahead of U.S. tariffs, while private consumption was supported by resilient labour markets and easing inflationary pressures. Looking ahead, the temporary export boost from front-loading will fade, but domestic demand is expected to remain relatively robust, underpinned by supportive monetary and fiscal measures. Regional inflation is projected to edge up modestly in 2026 but remains at a low level.

Speakers:

Hamza Ali Malik
Director, Macroeconomic Policy and Financing for Development Division