Latest news with #IndustrialStrategy
Zawya
21-05-2025
- Business
- Zawya
Abu Dhabi Investment Office announces new talent programmes to develop Emirati industrial sector leaders
Abu Dhabi: The Abu Dhabi Investment Office (ADIO) has launched a set of new talent development programmes designed to accelerate Emirati leadership across high-impact industrial roles. Announced during the Make it in the Emirates Forum 2025, the initiatives form a core pillar of Abu Dhabi's long-term industrial strategy, equipping the national workforce with critical capabilities in AI, Industry 4.0 and sustainable manufacturing. These new pathways are designed to prepare UAE nationals for high-value roles and leadership positions, driving innovation and productivity across the emirate's manufacturing landscape. ADIO's new talent programmes support the Abu Dhabi Industrial Strategy 2031 and signal a decisive move to anchor world-class skills within the local workforce, powering Abu Dhabi's rise as a global hub for future-defining industries. To bridge the gap between training and employment, ADIO is partnering with the UAE Ministry of Industry and Advanced Technology (MoIAT) to host a dedicated Industrialists Career Fair during the Make it in the Emirates Forum. With the aim of directly placing over 100 Emiratis into strategic roles within Abu Dhabi's industrial sector, the initiative is part of a broader push to deepen national participation in the emirate's economic transformation. In collaboration with Rabdan Academy, one of Abu Dhabi's leading academic institutions for safety, security, defence, emergency preparedness and crisis management, ADIO also plans to deliver an Upskilling Talent Development Programme for more than 100 Emiratis currently employed in the industrial sector. This initiative is designed to enhance professional growth, boost productivity and build a robust career path for UAE talent at all levels. A cornerstone of the launch is the Industry 4.0 and Sustainability training programme, developed in partnership with EDGE Learning Innovation Factory and TÜV SÜD. This hands-on, globally accredited programme will focus on automation, digital systems and sustainable production, creating a pipeline of highly skilled Emiratis to lead in next-generation manufacturing. It is expected to create 1,000 new employment opportunities for UAE nationals by 2031. Mohammad Al Kamali, Chief Industry & Trade Officer, ADIO, said: 'Our talent programmes are a direct investment in the next generation of nation-builders. By embedding critical skills within our workforce and unlocking global pathways for talent, we are reinforcing Abu Dhabi's competitive advantage and enabling UAE nationals to lead the future of industrial advancement, not just locally, but globally.' ADIO's programmes represent a strategic approach anchored in sustainable industrial growth, powered by local expertise. Abu Dhabi is building a resilient, export-driven economy driven by knowledge, fuelled by innovation and led by national talent, forming the foundation of the emirate's diverse economic future.
Fashion United
08-05-2025
- Business
- Fashion United
UK plans 16 million pounds cybersecurity scheme following M&S and Harrods attacks
Chancellor of the Duchy of Lancaster Pat McFadden has announced a 16 million pound cyber security scheme following targeted attacks on Marks & Spencer, Harrods and Co-Op over the past few weeks. Speaking at the CyberUK conference this week, McFadden said 'cybersecurity is not a luxury but an absolute necessity', adding that the recent attacks on UK businesses 'should serve as a wake-up call' up and down the UK. Despite this, a press release later released by the UK government said that the cyber sector would be a 'prime target for economic growth' in the upcoming Industrial Strategy. As such, McFadden announced plans to invest seven million pounds into the Laboratory for AI Security Research, which launched in November 2024 and will now cooperate with US tech firm Cisco on managing risks, building up skills and seeking opportunities in the area of AI security. This will further be supplemented by an eight million pound investment into Ukrainian cyber defences and the injection of more than one million pounds to 'protect Moldovan elections'. McFadden's comments came after several British retailers were hit by cyberattacks last week, starting with department store Marks & Spencer, which is still dealing with the aftermath of what is believed to be a ransomware attack. This was followed by an attempt on supermarket chain Co-Op and a similar attack on luxury department store Harrods, which confirmed May 1 that it had 'experienced attempts to gain unauthorised access to some of our systems'. Retailers are being urged to review their cyber risk controls, particularly amid an already turbulent market hampered by waning consumer confidence and uncertainty surrounding global trade.
Observer
06-05-2025
- Business
- Observer
Shura panel debates state of industrial sector
MUSCAT: The Economic and Financial Committee of Majlis Ash'shura held its tenth regular meeting of the second annual session (2024-2025), under the chairmanship of Mohammed bin Khamis al Hussaini, Vice-Chairman of the Committee, on Tuesday. During the meeting, the committee hosted members of the Oman Industrialists Association (OIA). The meeting discussed the expressed desire to evaluate the status of local industries in the Sultanate of Oman. The aim was to analyse the reality of the Omani industry in terms of challenges and opportunities and its readiness to achieve the goals of the Industrial Strategy and Oman Vision 2040. At the beginning of the meeting, the OIA's members gave a visual presentation that covered several topics including the local added value of the industrial sector and the protection of national industrial products. It also addressed support programmes provided to the sector, the legislation and regulations governing the sector, the challenges facing infrastructure, financing as well as the training and employment of nationals cadres in the industrial sector. The presentation also addressed the most prominent industrial indicators and growth rates of the industrial sector in the Sultanate of Oman over the past years, noting that the sector still relies on imported raw materials and machinery. The members of the Economic and Financial Committee held extensive discussions with the OIA's members, focusing on the importance of conducting a comprehensive and periodic assessment of the industrial sector's status from the perspective of current challenges and future opportunities to enhance its contribution to the gross domestic product. The members reviewed proposals and solutions to address these challenges and enhance the role of industry in economic diversification. The meeting discussed several recommendations that would enhance the growth of the industrial sector in the Sultanate of Oman including aligning policies with the industrial strategy, strengthening the role of small and medium enterprises and improving the work environment and integration between the public and private sectors. The committee members emphasised the importance of concerted efforts to empower the sector and increase its contribution to achieving economic diversification and to identify and address the challenges facing the sector. Separately, the Committee discussed the Ministry of Labour's statement requiring the appointment of at least one Omani citizen within one month in establishments and companies that have completed one year of their commercial registration. — ONA
Business Mayor
05-05-2025
- Politics
- Business Mayor
DSIT publishes its updated Science and Tech Framework – Wired-Gov
On 28 April 2025, the Government published its updated Science and Technology Framework. This paper supersedes the Framework published under the previous Government in March 2023. You can find below an overview of the newly-published Framework, as well as techUK's view and links to relevant techUK interventions. We are pleased to see the new Framework use its predecessor as a foundation to provide stability, but now urge the Government to deliver on its promises, and we look forward to seeing how the Government expands on its use of technology in the Industrial Strategy and other policy proposals. The New Framework The Government has published a new Science and Technology Framework which aims to show the importance of Science and Technology in the Government's policy missions. In particular, the Framework highlights the importance of having a consistent, systems approach to science and technology across the whole Government for success in the Five Missions, claiming 'From the transition to clean energy or understanding the impact of climate change, to achieving safer streets, securing resilience against natural or malicious threats, tackling migration, or ensuring that every child can take advantage of educational opportunities – every area of government policy or operational activity is impacted by science, technology or engineering.' The Framework provides ten policy levers that the Government can use in decision making to ensure Science and Technology is at the centre of all core priority deployment. The Framework goes through each in turn and outlines what the Government has committed to doing already in these areas. The Framework also shows how the Government will seek to embed pursuing that goal into future policy across Government, to ensure the deployment of science and technology is coherent and based on commonly-held principles and goals. The 10 'critical levers' are largely taken from the 2023 Framework and are: Developing and deploying critical technologies Signalling UK strengths and ambitions Investment in R&D Talent and Skills Financing Innovative Science and Technology Companies Procurement International Opportunities Research and Innovation Infrastructure Regulation and Standards Innovative Public Sector Of special interest is 'Developing and deploying critical technologies'. The 2025 Framework has committed to encouraging the same critical technologies as the 2023 Framework, which are: Artificial Intelligence (AI) Engineering Biology Advanced Communication Technologies (formerly Future Telecoms) Semiconductors Quantum Technologies The 2025 Framework contains less detail per critical lever and technology than the 2023 Framework, which suggests that the Framework is not an announcement of new policy, nor a vehicle for the announcing of future policy developments, but rather a statement of strategic thought that will apply across Government. techUK's View techUK welcomes this new iteration of the Science and Technology Framework, which builds upon its predecessor. Now though, we are keen to see the deployment of those policies outlined in the Framework, and we look forward to seeing how the thinking found in the Framework itself is deployed in future Government policy, such as the Industrial Strategy. In 2023, we welcomed the Science and Technology Framework as a good initial step in the further deployment of tech throughout Government policy, and we urged the Government to support its aims with funding and policy interventions. We are glad to see that the current Government has chosen to build upon this first step taken by the previous Government, and has also shown how progress has been made in each of the ten areas. In particular, the decision to retain the five key technologies shows a welcome commitment to maintaining stability while evolving the Government's policy thinking in this area. techUK urged the Government to maintain this stability in our Industrial Strategy response, so we are glad to see that reflected in the updated Framework. Now though, we would urge the Government to focus on delivery. Not all of the proposals under the 10 critical levers have been fully implemented yet, for example Skills England and use of the Procurement Act to support emerging technologies. The Government needs to ensure the delivery of these existing proposals to fully realise their potential benefits. We are also keen to see how the Government will deploy this Framework in future policy development, for example in the Industrial Strategy. The Framework claims it '…will ensure that S&T informs all aspects of the Industrial Strategy, delivering the private sector investment needed for long-term economic growth.' But, we will not know this for sure until the Industrial Strategy and its sector plans are published. If the Government follows through on delivery, both with its outlined projects and in future policy, then this Framework is a welcome indicator of Government thinking and will help science and technology be deployed throughout Government policymaking. Other Information
Yahoo
30-04-2025
- Business
- Yahoo
Barclays chief mounts defence of ring-fencing as rivals push for abolition
The chief executive of Barclays has launched a staunch defence of Britain's bank ring-fencing regime even as his main rivals lobby the government to abolish it less than a decade after its introduction. Speaking exclusively to Sky News, CS Venkatakrishnan said the protection that ring-fencing provided to bank depositors outweighed the costs of implementing and administering the system. His defence of ring-fencing - introduced as part of Britain's response to the 2008 financial crisis - pits Mr Venkatakrishnan firmly against the bosses of HSBC Holdings, Lloyds Banking Group, NatWest Group and Santander UK, who wrote to Rachel Reeves, the chancellor, last week to warn that the regulatory framework was inhibiting lenders' ability to help drive UK economic growth. Money latest: Boost for 1.2 million families on Universal Credit "The point that the other banks make about a bit of friction, trapped capital and administrative costs are correct," Mr Venkatakrishnan said. "However, there are two counterpoints: we have spent the money on the set-up and we make it work; but the more important fact is that you have to weigh against this the immense amount of depositor protection that the ring-fencing regime gives the country. "The ring-fencing regime is a very good one and a very strong one. "Depositor protection is the single-most important element of the banking system and the single-most important part of banks' engagement with society. "I don't think ring-fencing should be relaxed or scrapped." The ring-fencing regime establishes a 'firewall' between banking groups' retail arms and their investment banking operations, protecting either if the other were to run into serious financial difficulties. Barclays' decision not to sign the joint letter from the CEOs of the biggest UK banks surprised some of his peers at a time when the chancellor is spearheading a push to slash red tape across the economy. On Wednesday, Barclays unveiled first-quarter results showing a better-than-expected revenue performance in its investment banking division. The bank said group profit before tax rose 19% year-on-year to £2.7bn. Earlier this week, the HSBC chief executive Georges Elhedery confirmed that he was backing the push to scrap ring-fencing. In their joint letter, the quartet of bank chiefs told Ms Reeves that: "With global economic headwinds, it is crucial that, in support of its Industrial Strategy, the government's Financial Services Growth and Competitiveness Strategy removes unnecessary constraints on the ability of UK banks to support businesses across the economy and sends the clearest possible signal to investors in the UK of your commitment to reform. "While we welcomed the recent technical adjustments to the ring-fencing regime, we believe it is now imperative to go further. "Removing the ring-fencing regime is, we believe, among the most significant steps the government could take to ensure the prudential framework maximises the banking sector's ability to support UK businesses and promote economic growth." Banks spent billions of pounds designing and setting up their ring-fenced entities, with separate boards of directors appointed to each division. More recently, the Treasury has moved to increase the deposit threshold from £25bn to £35bn, amid pressure from a number of faster-growing banks. Read more from Sky News:The people and events that defined my 11 years at Sky News - Ian King Trump declares he is 'just getting started' after 100 day milestoneBurberry checks out contenders for new chairman Sam Woods, the current chief executive of the main banking regulator, the Prudential Regulation Authority, was involved in formulating proposals published by the Sir John Vickers-led Independent Commission on Banking in 2011. Legislation to establish ring-fencing was passed in the Financial Services Reform (Banking) Act 2013, and the regime came into effect in 2019. In addition to ring-fencing, banks were forced to substantially increase the amount and quality of capital they held as a risk buffer, while they were also instructed to create so-called 'living wills' in the event that they ran into financial trouble. The chancellor has repeatedly spoken of the need to regulate for growth rather than risk - a phrase the four banks hope will now persuade her to abandon ring-fencing. Britain is the only major economy to have adopted such an approach to regulating its banking industry - a fact which the bank chiefs say is now undermining UK competitiveness. "Ring-fencing imposes significant and often overlooked costs on businesses, including SMEs, by exposing them to banking constraints not experienced by their international competitors, making it harder for them to scale and compete," the letter said. The four bosses called on Ms Reeves to use this summer's Mansion House dinner - the City's annual set-piece event - to deliver "a clear statement of intent…to abolish ring-fencing during this Parliament". Doing so, they argued, would "demonstrate the government's determination to do what it takes to promote growth and send the strongest possible signal to investors of your commitment to the City and to strengthen the UK's position as a leading international financial centre".
