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Osnabrueck / Dubai, March 5, 2026. As the global automotive industry continues to undergo profound transformation – from electrification and digitalization to evolving supply chains and regionalized production strategies – Hellmann Worldwide Logistics is reinforcing its commitment to this dynamic sector. The company has appointed Rahul Bhasin as new Global Vice President of Hellmann Automotive Logistics. In his new role, he will report directly to Alexandra Olvera, who recently joined Hellmann as the new CCO. Rahul Bhasin will lead Hellmann's global automotive logistics activities as part of the company's long-term strategy to further strengthen its position as a reliable logistics partner for OEMs and Tier 1 suppliers to drive sustainable, customer-centric growth in all regions.

With more than 15 years of strategic international leadership experience across the automotive industry, Rahul Bhasin brings a wealth of expertise spanning Asia-Pacific, the Middle East and Europe. Having worked with leading automotive brands and consulting firms he has been instrumental in shaping market entry and growth strategies, enhancing customer experience frameworks and driving large-scale business development initiatives across global markets.

This appointment highlights Hellmann's ongoing commitment to the automotive sector. By combining in-depth industry expertise with a customer-centric approach, Hellmann intends to strategically develop the future of automotive logistics through resilience, innovation and close collaboration with its customers.

“The automotive industry remains one of the most strategically important and innovation-driven sectors in our global portfolio. It is a key growth driver for Hellmann, and we are committed to expanding our global footprint to support our customers' long-term success in an evolving market environment,” says Madhav Kurup, COO Airfreight, Seafreight, and Contract Logistics, Hellmann Worldwide Logistics.

“With Rahul's international perspective, strategic mindset, and proven track record, we are confident that he will play a key role in expanding our automotive footprint and supporting our customers as the industry continues to evolve,” adds Alexandra Olvera, CCO, Hellmann Worldwide Logistics.

About Hellmann
Hellmann Worldwide Logistics is a global logistics service provider with a comprehensive service portfolio that includes air- and seafreight, road and rail transport, and contract logistics. With annual sales of EUR 3.8 bn and around 12,000 employees in 61 countries, Hellmann moves over 20 mio shipments annually. Based on this broad product range and many years of experience, Hellmann offers innovative logistics solutions for the complex requirements of each individual customer and relies on visionary technical products to ensure maximum customer transparency while creating a more efficient supply chain.

www.hellmann.com

Thinking Ahead – Moving Forward

We operate exclusively in accordance with the German Freight Forwarders' Standard Terms and Conditions 2017 (Allgemeine Deutsche Spediteurbedingungen 2017 – ADSp 2017) and – if they do not apply for performing (supplementary) logistics services – with the General Terms and Conditions of Logistics-Services Providers (Logistik-AGB), as of March 2006. Note: In clause 23 the ADSp 2017 deviate from the statutory liability limitation in section 431 of the German Commercial Code (HGB) by limiting the liability for multimodal transportation with the involvement of sea carriage and an unknown damage place to 2 SDR/kg and, for the rest, the customary liability limitation of 8.33 SDR/kg additionally to Euro 1.25 million per damage case and EUR 2.5 million per damage event, but not less than 2 SDR/kg. You can find the ADSp 2017 here: www.hellmann.com/ffst and the Logistik-AGB 2006 here: www.hellmann.com/loggtc.
For further information on the subject of data protection and our handling of personal data please refer to the following link: www.hellmann.com/privacy

The results of the KOF Economist Survey point to a significant impact of demographic change on the availability of labour. On the political side, participants see a need for action on the labour participation of women and older people, while they recommend wage increases and improved working conditions for companies.

Demographic change and the retirement of the baby boomer generation will lead to a significant increase in the age ratio, i.e. the ratio of retired to working people, in the coming years. According to a recent study by the Swiss National Bank (SNB), without immigration and assuming the employment rate remains unchanged, around 400,000 more people could leave the labour market than young people entering it over the next ten years. Against this backdrop, in December 2025 the KOF Institute surveyed academic economists about their assessments of the labour shortage in Switzerland. A total of 103 responses were received, representing a response rate of 13%.

Demographic change as the main factor in labour shortages
The survey participants were asked for their assessment of the most important factors contributing to a potential labour shortage in Switzerland. They consider demographic change to be the most important factor (87%), followed by skills mismatch (63%) and insufficient access to foreign labour (43%). Around 26% of participants see low labour force participation as an important reason, and only 9% cite insufficient wage growth (wage rigidity).

Disagreement on productivity effects – agreement on migration
Different schools of economic thought disagree on how a labour shortage would affect labour productivity. The survey participants were therefore asked whether they think a labour shortage has a positive, negative or no effect on labour productivity. The disagreement in the economic debate is also reflected in the responses: while 43% of participants state that a labour shortage has a (rather or clearly) positive effect on productivity, 36% think that the effect is (rather or clearly) negative. 16% assume that there is neither a positive nor a negative effect.

However, there is considerable agreement among survey participants on the importance of migration for structural labour shortages. Almost three-quarters of participants believe that immigration tends to reduce structural labour shortages (44%) or significantly reduces them (29%). Around 13% of participants, on the other hand, think that immigration tends to exacerbate (10%) or significantly exacerbate (3%) structural labour shortages by creating additional demand. A further 11% see neither an exacerbating nor a mitigating effect of immigration on structural labour shortages.

At the same time, a statistical analysis shows that there are significant differences in the responses given by different political camps: 86% of left-wing respondents believe that immigration reduces labour shortages (somewhat or significantly); the figure is 78% among centrists and 65% among right-wing respondents. Despite these differences, the majority view across the political spectrum is that immigration reduces labour shortages (somewhat or clearly).

Policy options: increasing labour force participation among women and older workers
The economists were also asked in which areas the Swiss government should take measures to counteract structural labour shortages, rather than leaving these areas to market mechanisms. The greatest support for active government intervention is found for measures to increase the labour force participation of women (80%) and older people (78%), as well as the promotion of continuing vocational training (78%). 49% believe that the Swiss government should remove barriers to migration, while 39% reject this. With only 20% approval, government measures to reduce part-time work are the least recommended by respondents.

Here, too, the political camps differ in their responses. Among economists who identify as (somewhat) left-wing or centrist, a majority support government measures to reduce barriers to migration (68% and 52% respectively); among (somewhat) right-wing participants, a majority of 63% reject these measures. Measures to increase women's participation in the labour market also receive the strongest support from (tending to be) left-wing respondents; however, a majority in all political camps are in favour of these measures (left 96%, centre 89%, right 63%). Government measures to reduce part-time work, on the other hand, receive the strongest support from right-wing participants: 29% agree, compared with 27% and 4% of centre and left-wing participants.

Higher wages and better working conditions as incentives
In addition to government measures, the economists surveyed also see opportunities for companies to counteract labour shortages. Around 94% consider improving secondary working conditions to be a (somewhat or very) effective means for companies to reduce labour shortages, while 90% consider increasing real wages to be (somewhat or very) effective. Only 35% and 34% of respondents respectively consider adjusting job profiles or outsourcing to other locations to be (somewhat or very) effective.

SNB monetary policy not a driver of labour shortages
A clear majority of 59% of survey participants (somewhat or strongly) disagree with the statement that the SNB's monetary policy has increased structural labour demand and thus contributed to a structural labour shortage. Just under 10%, on the other hand, agree (somewhat or strongly) with the statement that the SNB's monetary policy has contributed to the labour shortage. 21% neither agree nor disagree with this statement, and 11% actively refrain from commenting (“prefer not to answer”).

About the survey:
The KOF Economist Survey covers topics relevant to economic policy in Switzerland and is a tool for making the views of academic economists visible to the public. In December, the KOF conducted a survey on labour supply and structural labour shortages. The survey started on 1 December 2025 and ended on 24 December 2025. 798 economists were contacted. Responses were received from 103 economists from 19 institutions. This corresponds to a response rate of 13%.

Of the participants, 13% are younger than 36, 35% are between 36 and 45, 22% are between 46 and 55, and 28% are older than 56. 87% of participants are male and 10% are female. Broken down by age category, the proportion of women is highest in the 46 to 55 age group, at 20%. The proportion of women is lowest in the under-36 age group, at 0%.

73% of HR professionals already use AI for recruiting and onboarding.

Small and mid-sized business (SMB) HR teams are adopting AI tools faster than large enterprises, but they often do so without formal policies in place, security checks, or clear strategies for use. While 73% of HR professionals use AI for recruiting, onboarding, and administrative tasks, most SMBs still lack basic AI governance.

As a result, some of the most sensitive data in the organization, such as employee records, candidate information, payment details, and performance reviews, increasingly pass through consumer-grade AI tools that no one has selected, vetted, or can audit.

In practice, HR teams often paste resumes, performance documents, and compensation details into general AI tools to summarize, rewrite, or score them. If AI platforms store, share, or leak this data, organizations might never realize the exposure has occurred. Risks include accidental data leaks and prompt-injection attacks, where malicious input tricks AI into revealing confidential information.

“What most HR leaders don't realize is that consumer AI tools do more than summarize resumes. They keep training data, compare patterns across sessions, and expose organizations to prompt injection risks that even enterprise models find hard to fully prevent,” says Žilvinas Girėnas, head of product at nexos.ai. “HR teams should not wait for perfect policies. They must act now by restricting sensitive data uploads to unapproved tools and auditing current usage.”

The governance gap inside SMB HR

Across the industry, SMB HR teams work inside a maze of separate workflows, with each recruiter using different AI tools on their own. Recruiters and HR leads sign up for separate AI accounts, run candidate data through tools like ChatGPT or Claude, and build screening processes that others on the team cannot see or copy.

And the results speak for themselves. Research from Gartner and Phenom shows 88% of HR tech leaders have not seen much business value from AI investments even though adoption is widespread. Many teams pay for AI licenses while recruiters still manage spreadsheets, copy candidate data between tools, and rely on gut instinct for final decisions.

At the same time, a growing majority of small businesses use AI regularly, but most still have no formal policies to guide how it is used. This governance gap keeps growing.

“The people creating AI workflows in HR are not acting recklessly. They are solving real problems with the tools they have,” says Girėnas. “But when five team members use five different AI tools without shared workflows, visibility, or guardrails, it creates fragmentation, risk, and wasted spend. It is the shadow IT problem again, now involving personal data.”

A compliance time bomb in hiring

The governance gap is no longer just an operational issue — it is becoming a legal liability. A wave of state-level AI hiring rules is taking effect in the US, and most SMB HR teams are unprepared.

• Illinois amended its Human Rights Act effective January 1, 2026, to cover any employment use of AI that results in discrimination, requiring employers to notify candidates and provide opt-out options.
• Colorado's AI Act (SB24-205) introduces obligations for organizations deploying “high-risk AI systems” in employment decisions, including mandatory bias audits.
• New York City's Local Law 144 requires annual bias audits for automated employment decision tools.
• The US Equal Employment Opportunity Commission (EEOC) has clarified that under Title VII, employers remain liable for discriminatory outcomes caused by AI tools, even if provided by a third-party vendor.
• Multiple states now require disclosure and transparency when AI is used in hiring decisions. Individual ChatGPT accounts cannot meet these requirements.

For small HR teams, this means informing candidates which tools are used in hiring, why they are used, and how they may affect screening decisions.

“The challenge for HR teams isn't adopting AI – it's doing it with the right infrastructure and governance,” says Girėnas. “A head of talent acquisition at a 200-person company should not need an engineering team to automate candidate screening or piece together three AI tools hoping for compliance. They need a single platform to build workflows in minutes, with governance, audit trails, and compliance built in from the start.”

Burnout and tool sprawl: A vicious cycle

HR teams often use commercial AI tools out of the box largely because they are overwhelmed by their workload and the pressure to deliver faster hiring results. Recruiter burnout is at 68%, with many describing their tech stack as “one platform for every single step” rather than a coherent system. Instead of reducing stress, each new tool adds logins, workflows, and tabs, pushing recruiters closer to exhaustion.

AI use in recruiting has jumped from 26% to 53% in one year, but much of this growth is ad hoc and reactive. Under pressure to fill roles, recruiters sign up for AI tools that seem helpful, often using personal accounts without IT or legal review. The result is not just fragmentation, but rising burnout from constant context switching and growing exposure to compliance failures. A single candidate might be handled by several sourcing platforms, multiple scheduling tools, and a personal ChatGPT account before anyone even picks up the phone.

“Burnout and tool sprawl feed each other,” adds Girėnas. “The more exhausted recruiters become, the more often they reach for quick-fix tools that create new silos and extra work.  Instead of one clear workflow, they're juggling tabs, logins, and half-finished automations. The real fix isn't adding yet another point solution — it's designing a small number of shared, well-governed workflows that actually reduce clicks, context switching, and stress for HR teams.”

Skills-based hiring raises the stakes

The pressure on HR teams is increasing due to the rapid shift to skills-based hiring. Forbes and other analysts name it as a top workplace trend for 2026, and LinkedIn data shows candidates use AI to highlight experience around skills rather than credentials.

This change requires AI tools that evaluate skills, not just keywords, going beyond resume scanning to measure real ability. AI-powered interview analytics improve hiring accuracy by 40%, and predictive analytics improve talent matching by 67%. But these features are often locked in expensive platforms that cost six figures and require complex IT projects to set up.

SMB HR teams use consumer AI tools that summarize resumes but cannot run detailed skills assessments, integrate with applicant tracking systems (ATS), or generate the audit trails new laws require. This means candidates show up with AI-polished applications, while hiring teams make decisions with basic tools and little visibility into why the tools rank one profile above another.

Four actions SMB HR teams can take this week

SMB HR teams use AI extensively but often lack governance, exposing employee and candidate data to security, compliance, and bias risks. Many of these risks can be reduced quickly by:

1. Conducting a 30-minute AI audit. Ask every HR team member which AI tools they use, including free tools, browser extensions, and personal ChatGPT accounts.
2. Creating a simple AI policy. Use free templates from SHRM, AIHR, HiBob, or Triple AI Agency. At a minimum, define approved tools, permitted data, and who reviews AI-assisted decisions.
3. Banning sensitive data in unapproved tools. Prohibit team members from entering employee PII, compensation data, performance reviews, and candidate personal data in any unapproved AI tool.
4. Consolidating before adding new tools. Review if existing systems can cover new use cases before buying point solutions. Underused tools and overlapping platforms increase cost, risk, and burnout.

ABOUT NEXOS.AI

nexos.ai is an all-in-one AI platform for business teams that brings model access, agent automation and governance together, so your entire organization and its teams can turn AI potential into business results. Through a unified workspace and no-code automation, nexos.ai connects leading AI models to enterprise systems, data sources and workflows while enforcing security, governance and compliance at scale. Headquartered in Vilnius, Lithuania, nexos.ai was founded by the creators of Nord Security and is backed by Index Ventures, Creandum, Evantic Capital, Dig Ventures and leading European angels.

Report sets scene as governments prepare to discuss targeted actions during week-long UN wildlife conservation meeting in Brazil: COP15.

COP15Bonn – Campo Grande – An interim update to the landmark State of the World’s Migratory Species of 2024 warns that 49% of migratory species populations protected under a global treaty are declining, up 5% in just two years, and 24% of species face extinction, up 2%.

The new warnings will be presented to the 15th Meeting of the Conference of the Parties to the Convention on the Conservation of Migratory Species of Wild Animals (CMS COP15), a legally-binding UN treaty, in Campo Grande Brazil March 23-29.

The week-long COP is one of the most important global meetings for wildlife conservation. With high-level political attention from host-country Brazil, the meeting is set to tackle an ambitious set of actions in addressing a vital aspect of the global biodiversity crisis.

Billions of individual aquatic, avian, and terrestrial wild animals migrate across lands, rivers, oceans and skies. They are essential to the well-functioning of nature and to human well-being, pollinating plants, transporting nutrients, regulating ecosystems, controlling pests, storing carbon and sustaining livelihoods and cultures worldwide.

Their survival depends on coordinated action across the full length of their migratory routes, which can cross multiple national borders and even continents.

Developed for CMS by the UN Environment Programme World Conservation Monitoring Centre (UNEP-WCMC) and other contributors, the interim report tracks significant changes in the conservation status of migratory species and highlights emerging trends to provide new information focussing on:

Recent significant changes in the conservation status of species listed under the Convention on Migratory Species (CMS-listed) since the 2024 baseline, based on data from the IUCN Red List of Threatened Species.
Newly reported population trends and changes in extinction risk documented in the scientific literature.

Other key findings:

• 26 CMS-listed species, including 18 migratory shorebirds have moved to higher extinction risk categories.
• 7 CMS-listed species have improved, including the saiga antelope, scimitar-horned oryx, and Mediterranean monk seal.
• 9,372 Key Biodiversity Areas (KBAs) important for CMS-listed species have been identified.
• 47% of the area covered by KBAs is not covered by protected and conserved areas
• Progress has been made on filling gaps in knowledge on important habitats and migratory routes for sharks/rays and marine mammals, and new initiatives will identify areas for marine turtles.
• Despite some important successes, key indicators – such as the overall proportion of CMS-listed species with decreasing populations – are heading in the wrong direction.

The report also underlines encouraging developments:

• Advances in mapping of migratory pathways to inform decision-making. Initiatives to map migrations are gathering momentum. This includes those spotlighted in the report – the Global Initiative on Ungulate Migration (GIUM), the Migratory Connectivity in the Ocean (MiCO) system, and BirdLife International’s work to identify and map six major marine flyways.
• Progress in identifying and safeguarding important habitats and migratory corridors.
• Recovery of some species through coordinated action.

The new report is based on the latest available data, including significant changes in conservation status, newly reported population trends, and recent progress in identifying and protecting critical habitats and migratory pathways.

This focussed update provides Parties with the latest available evidence ahead of COP15 deliberations, helping to identify priority areas for action in advance of the next full report in 2029 at COP16.

Overexploitation, and habitat loss and fragmentation, are the two greatest threats to migratory species worldwide, notes CMS Executive Secretary Amy Fraenkel.

“The first global report was a wake-up call,” she said. “This interim update shows that the alarm is still sounding. Some species are responding to concerted conservation action, but too many continue to face mounting pressures across their migratory routes. We must respond to this evidence with coordinated and effective international action.”

The report underscores the need for action to improve the status of all migratory species listed on the Convention, but most urgently for the species listed on CMS Appendix I, where migratory species in danger of extinction throughout all or a significant portion of their range, are listed.

These 188 Appendix I species include terrestrial mammals (28), aquatic mammals (23), birds (103), reptiles (8), and fish (26).

Parties that are Range States to Appendix I-listed species are required to provide strict protection, including the prohibition of taking (such as hunting or capturing), protecting and restoring important habitats, and addressing obstacles that impede the species’ migration.

Among other measures, a Global Initiative on Taking of Migratory Species (GTI), is expected to be launched at COP15. The new CMS-initiated initiative is designed to help governments, experts and local communities to ensure that any taking of migratory species is legal, sustainable and safe. It focused on new findings that the threat of taking for domestic use is far greater than international trade.

“If we intervene only at the point of crisis, we risk acting too late.” said Fraenkel. “By strengthening governance, monitoring, legislation and community engagement upstream, we can reduce pressure on these remarkable animals and put them on the path to lasting recovery.”

Building on a landmark baseline

The 2024 State of the World’s Migratory Species report marked the first comprehensive global assessment of migratory animals, covering the 1,189 species listed at that time in CMS Appendices I and II and its analysis linked to over 3,000 additional migratory species.

It found that:

• 70 CMS-listed species had become more endangered over the previous three decades, compared to just 14 that improved in status.
• Migratory fish populations had declined by 90% on average since the 1970s and 97% of CMS-listed migratory fish species face extinction.
• More than half of Key Biodiversity Areas important for CMS-listed species lacked protected status.

The interim report update ensures that governments at CMS COP15 have the most current scientific picture before them.

“We have a baseline. We have better tools. And we have growing public awareness,” Fraenkel said. “The question before governments at COP15 is straightforward: will we match this knowledge with the political will and investment needed to secure the future of the world’s migratory species?”

Other key reports being presented at COP15 include:

• Impacts of Deep-Sea Mining on Migratory Species: Review and Knowledge Gaps.

The study offers a thorough assessment of how deep-sea mining (1,000–6,000 meters) may impact key ocean species. Its findings reveal that sediment plumes and wastewater from mining can disrupt animal navigation, feeding, and prey availability, as well as introduce metal-contaminated particles into food webs. Other risks include habitat damage, more ship strikes, and persistent noise in sensitive marine environments.

Almost half of marine mammals covered by the Convention would be impacted. Other affected groups include sharks and rays, marine reptiles, seabirds and bony fish.

Global Assessment of Migratory Freshwater Fishes

Some of the longest, most important migrations of species on Earth are happening beneath the surface of the world’s rivers, and face significant threats from overuse, fragmentation, and pollution. This report identifies 325 new candidate species that could benefit from being added to CMS Appendices.

Malaysia’s total card payments market is projected to grow at a compound annual growth rate (CAGR) of 7.1% between 2025 and 2029 to reach MYR538 billion ($125.7 billion) in 2029. This is mainly driven by expanding POS terminal infrastructure, growing adoption of contactless payments, rise of digital banks, and government-led financial inclusion programs, according to GlobalData, a leading intelligence and productivity platform.

GlobalData’s Payment Cards Analytics reveals that the total card payments value in Malaysia increased from MYR225.5 billion ($52.7 billion) in 2021 to MYR408.5 billion ($95.4 billion) in 2025. This expansion was underpinned by government’s push for electronic payments—particularly the development of POS infrastructure and policy measures such as interchange fee caps—alongside a rising banked adult population and the availability of low-cost basic banking services.

Koppisetty Pujitha, Senior Banking and Payments Analyst at GlobalData, comments: “Malaysia’s card payments growth is being shaped by a combination of infrastructure build-out and policy support aimed at shifting everyday transactions away from cash. Alongside the expansion in POS terminals, measures such as capped interchange fees and cash transaction limits are improving acceptance economics for merchants and accelerating the long-term transition to electronic payments, even as cash use remains significant in parts of the economy.”

Debit card payments represented 41% of the total card payment market in Malaysia in 2025. Debit cards’ growth is supported by Bank Negara Malaysia (BNM)’s financial inclusion initiatives such as a new policy on Basic Banking Services, which requires all financial service providers to offer low-cost basic savings and current accounts that come with free debit cards. The new policy will be effective from 1April 2026.

Credit and charge cards accounted for 59% of the total card payment transaction value in 2025. Banks are driving the uptake of credit and charge cards via rewards, cashback and instalment features.

Meanwhile, the government’s recent rollout of digital-bank licenses is intensifying competition in Malaysia’s banking sector and accelerating both account and credit card adoption. As of September 2025, the five licensed digital banks had collectively onboarded roughly 1.97 million customers and held deposits totalling MYR 3.1 billion ($724.2 million). Regulatory measures are further reinforcing card adoption.

The rising uptake of contactless payments is also fuelling the growth of card-based transactions nationwide.  In June 2025, TNB Electron, in partnership with CIMB Bank, Visa, and JuiceUP—a provider of electric vehicle (EV) charging solutions in Malaysia—launched contactless payment terminals at key rest-and-service EV charging stations along major highways. This innovation enables EV owners to pay for their charging services using contactless debit or credit cards or use digital wallets such as Apple Pay, Google Pay, or Samsung Pay, with no dedicated EV apps required.

Pujitha concludes: “Malaysia’s total card payments market is expected to see continued growth over the next five years. This momentum will be driven by expanding acceptance networks, rise of contactless payments, growing competitiveness from digital banking, and strong financial inclusion initiatives.”

Notes

Quotes provided by Koppisetty Pujitha, Senior Banking and Payments Analyst at GlobalData
Information is based on GlobalData’s Payment Cards Analytics

About GlobalData

GlobalData operates an intelligence platform that empowers leaders to act decisively in a world of complexity and change. By uniting proprietary data, human expertise, and purpose-built AI into a single, connected platform, we help organizations see what’s coming, move faster, and lead with confidence. Our solutions are used by over 5,000 organizations across the world’s largest industries, delivering tailored intelligence that supports strategic planning, innovation, risk management, and sustainable growth.

March 3 2026 – Investors must prepare now for higher interest rates due to the escalating Iran conflict, warns the CEO of one of the world's largest independent financial advisory organizations.

The warning from deVere Group's Nigel Green comes as oil markets convulse following threats to shipping through the Strait of Hormuz, the passage that carries roughly 20% of the world's crude supply.

An Iranian Revolutionary Guard commander declared that the Strait of Hormuz, the single most critical artery for global crude shipments, has been shut and threatened to ignite any vessel attempting passage, according to reports.

Brent crude has surged above $87 a barrel after jumping more than 9% in a single session, while West Texas Intermediate has climbed past $83, up more than 8%, marking one of the sharpest short-term spikes in over a year.

Nigel Green says: “When oil surges with this magnitude and velocity, inflation doesn't edge up slowly, it gathers force rapidly.

“Energy is embedded in every supply chain. A sustained move toward $90 Brent fundamentally alters the inflation outlook and forces a repricing of interest rate expectations.”

He continues: “Markets had been positioning for lower borrowing costs, but this narrative is now under threat.

“A renewed energy shock of this scale reduces the scope for rate cuts and raises the probability that monetary policy remains restrictive for longer than investors had assumed.”

The deVere CEO explains: “Higher oil prices feed directly into transport, logistics, food production and household energy bills. That pressure shows up quickly in headline inflation and then seeps into core readings through wages and corporate pricing decisions. Central banks are acutely aware of this transmission mechanism.”

If inflation expectations begin to drift upward again, monetary authorities will respond decisively.

As such, investors must prepare for “rates staying elevated well into 2026, and potentially moving higher if inflation proves stubborn.”

On fixed income markets, he says: “Bond yields are already adjusting to reflect reduced confidence in near-term rate cuts.

“Duration risk becomes more pronounced in this environment.”

The US dollar is attracting renewed safe-haven flows. In periods of geopolitical escalation combined with inflation risk, “capital gravitates toward dollar-denominated assets. We're seeing increased demand for Treasury bills and high-quality fixed income as investors seek both yield and security.”

Oil at these levels also compresses corporate margins. Companies facing higher input costs will either absorb the impact or pass it on to consumers.

“Both scenarios have consequences for earnings forecasts and equity valuations,” notes the deVere CEO.

Nigel Green stresses the duration risk of the conflict: “Markets can't assume a rapid resolution.

“Disruption to one of the most critical energy corridors in the world introduces structural risk.

“Portfolio positioning must reflect the possibility that elevated oil prices persist for months, not days.”

On equities, he says: “Investors should reassess exposure to sectors heavily dependent on energy-intensive supply chains. Pricing power, balance sheet strength and cash flow resilience are central metrics.”

He continues: “Selective allocation to energy producers and real assets can provide a counterbalance when input costs rise. Commodity-linked exposure has historically performed strongly during inflationary supply shocks.”

Nigel Green addresses complacency directly: “This is not a typical volatility episode driven by sentiment alone.

“This is a supply-side shock with tangible macroeconomic consequences. Monetary policy flexibility will narrow as inflation pressure builds.”

Europe and parts of Asia remain highly exposed to imported energy costs. A sustained oil rally will strain growth while complicating inflation control. “Divergent policy responses could intensify currency volatility,” the CEO adds.

Nigel Green concludes: “To safeguard wealth, investors must act decisively. Stress-test portfolios against higher inflation assumptions.

“Those who review and maybe reposition now will be better equipped to protect and grow wealth in what's potentially shaping up to be a higher-for-longer rate environment.”

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.

04 MARCH 2026 – Equinor has completed the investigation of a well control incident on the “Deepsea Bollsta” drilling rig on 23 September 2025. The incident is classified in the company's highest category of severity.

The incident occurred in connection with plugging a well on the Troll field, while cutting a 13-3/8″ casing at a depth of about 510 metres. A leak of gas and fluid spread to the drill floor and the shaker room , where rocks and cuttings are removed from the drilling fluid before the fluid is returned to the well.

One person had trouble evacuating from the room due to the differential pressure that occurred. This person suffered minor injuries and received first aid treatment aboard after using force to get out. The gas and fluid column from the leak also damaged the ventilation system in the ceiling of the room.

“We're taking the well control incident that led to a gas emission on Deepsea Bollsta very seriously. There were considerable forces at play and gas came aboard. This was a dramatic event for those who were at work. At the same time, all safety barriers functioned as intended and the crew handled the situation well, thus preventing any escalation,” says Rune Nedregaard, Equinor's Senior Vice President for Drilling and Well.

Automatic gas detection triggered the rig's safety systems and potential ignition sources were disconnected. The crew on Deepsea Bollsta activated the rig's blow-out preventer (BOP) and diverter system in line with relevant procedures. The diverter system routed gas, fluid and pressure from the well away from the rig before the blow-out preventer closed.

The blow-out preventer closed after 71 seconds, thus stopping the flow of gas. The situation was normalised in 30 minutes. Equinor has initiated multiple measures following the incident. A new requirement was immediately implemented to close the BOP in the event of shallow cuts and pulling the casing, regardless of activation time.

The investigation's calculations show that about 930 kilos of gas leaked out in a short period of time. Based on the size, this is classified as a red 1 incident, the most serious category in Equinor's management system. There was combustible gas on the drill floor and in the shaker room for a brief period of time, but potential ignition sources were disconnected. The investigation has determined that the circumstances would have to be different for the gas to ignite.

The cause of the incident was that the BOP was in the open position when the casing was cut, while at the same time, confined gas was present behind the casing. The annulus behind the casing was logged before the cutting, but the equipment was not calibrated correctly. This meant that the gas was not identified in advance. The incident did not have the potential for an uncontrolled blowout. The gas was from a limited volume confined behind the casing, and was not in contact with the reservoir. The barriers against the reservoir were intact.

“We've received a thorough investigation report that will form the basis for lessons learned. Among other things, the investigation points to technical factors that can prevent such incidents. Several measures were initiated immediately following the incident. Equinor will share the investigation findings and implemented measures with our suppliers. The Norwegian Ocean Industry Authority's investigation will also be important for Equinor's follow-up moving forward,” Nedregaard says.

Switzerland still has strong innovation centres and globally competitive sectors. However, signs of fatigue and fragmentation are visible. This is shown by a new study conducted by FHNW, the KOF Institute, EPFL and the University of St. Gallen. It examines how Swiss innova-tion models are changing and where they are stagnating. Politics and business must respond in order to enable a new wave of transformative innovations that create new companies, indus-tries and markets.

– Companies in Switzerland are innovating, but often in small steps.
– In key areas like digitalisation, sustainability and transformative innovation, Switzerland risks losing momentum.
– Increasing regulation, dynamic competition, and growing uncertainty in sales markets are presenting companies with new challenges.

The study examines how a selection of companies in the six innovation intensive sectors chemicals, pharmaceuticals & biotech, ICT, medtech, metals/electronics/machines (MEM), food & beverages and finance is developing new products, services and business processes, and which obstacles slow down or block their innovations.

Strong sectors, weak transformative momentum

The study finds pronounced sectoral differences in innovation inputs, outputs and the use of public support: many manufacturing companies (e.g. in pharma, medtech, MEM, ICT hardware) innovate and introduce radical innovations based on intensive research and development (R&D), closely aligned with the existing innovation policy focus on science industry collaboration and entrepreneur-ship. Parts of the services economy (e.g., banking, insurance) and manufacturing (food & beverages) use different innovation models, without R&D and collaboration with academia or support from Swiss innovation policy.

Across sectors, non innovative firms differ from innovative ones in their perception of a relatively sta-ble technological and market environment and less openness to innovation on the customer side, which lowers the expected benefits of innovation and thus the willingness to invest. This assessment is a warning signal that an increasing number of firms are discontinuing their innovation activities because they no longer see sufficient returns.

Digitalisation and sustainability: challenges for SMEs

Digitalisation has clear leaders and laggards: Large companies are far more proactive than small and mid-sized companies and pursue multiple digitalisation objectives. However, they struggle with data access and skilled personnel. Many very small firms with fewer than 10 employees are largely discon-nected from digital innovation. Medium sized firms sit in between. The message for the Swiss econo-my is clear: without targeted measures, parts of the SME landscape risk not benefitting fully from the digital transformation and losing competitiveness.

Although the significance of sustainability innovations varies between sectors, incremental, that is stepwise, improvements dominate across the board. Fundamental redesigns (of products and processes), and truly transformative sustainability innovations remain the exception. High costs, regulato-ry hurdles, market failure and missing data or capabilities make radical changes unattractive, particu-larly for SMEs and non R&D innovators. This incremental approach with sustainability innovations slows down the pace of the transition to a more sustainable Swiss economy.

Regulatory oversight slows down radical innovation

Regulation emerges as a double edged sword. Although it can give direction and stability, many companies report that rising regulatory complexity, frequent changes and legal uncertainty increase costs. In part, this delays projects and discourages radical innovation in sectors such as medtech, finance and pharma/chemicals. This increases the risk that Switzerland's dense regulatory environ-ment favours safe, incremental changes over bold, disruptive innovation.

Implications for the Swiss economy and possible measures

Overall, the companies surveyed and interviewed give Swiss innovation policy a positive rating – but also deliver a clear warning that the framework conditions need updating to keep pace with economic structural change. Transformative innovations are still rare, even though they are often vital for long-term productivity growth and the transition towards a more digital and sustainable economy. On this basis, discussions with companies have identified shortcomings in current innovation policy and developed proposals for economic policy adjustments. This results in nine possible measures that could make the Swiss research and innovation system more enabling and support radical, digital and sustainable innovation:

1. sector specific regulatory “sandboxes” (controlled tests with reduced regulations),
2. further harmonisation of regulations (between cantons and between Switzerland and other countries),
3. improving the framework conditions for start up funding in all stages,
4. targeted support for transformative and sustainable innovation,
5. operational improvements in promoting innovation,
6. better matching of collaboration partners through research information systems and collabora-tion brokers,
7. an extension of funding for certain institutions of national importance (technology compe-tence centres) in the field of research and innovation in accordance with Article 15 of the Federal Act on the Promotion of Research and Innovation RIPA,
8. a national data strategy and
9. a fast track procedure for work permits for highly qualified professionals.

The study was commissioned by the State Secretariat for Education, Research and Innovation (SE-RI) and co-financed by Innosuisse and six industry associations (Swiss Medtech, Interpharma, Swico, Swiss Bankers Association, Swiss Fintech Innovations and Swiss Insurance Association).