WEF places faith in its Young Global Leaders

Updated 11 May 2018
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WEF places faith in its Young Global Leaders

  • The World Economic Forum (WEF) established the Forum of Young Global Leaders to foster leaders in public-private cooperation and forge a new model of global governance.
  • The leaders include many of the world’s most accomplished under-40-year-olds, including a Formula One champion and a decorated human rights lawyer.

LONDON: In these challenging times, the world needs effective leaders, with high moral integrity and a commitment to action.

In recognition of this, the World Economic Forum (WEF) established the Forum of Young Global Leaders to foster leaders in public-private cooperation and forge a new model of global governance.

Every year, the Forum honors 100 outstanding and uniquely accomplished individuals who are committed to building a peaceful and prosperous shared global future. In return for the honor, the Forum enlists these diverse technologists, teachers, entrepreneurs and innovators in a process of discovery, to achieve more collectively than they could on their own.

Through a five-year journey underpinned by principles of generosity, respect, authenticity and impact, this select group is exposed to opportunities that build their expertise and extend their influence. The journey focuses on cultivating public leadership skills and scaling impact. More than 80% of Young Global Leaders say that their interest in public service stems from a desire to improve or transform society. More than half cited the opportunity to serve as a driving force.

This year’s cohort of 100 comprises an equal number of business and not-for-profit leaders, more than half of whom are from emerging economies. Not for the first time, the majority are women. They include the world’s most accomplished under-40-year-olds, including a Formula One champion and a decorated human rights lawyer.

In the public sector, pioneering leaders from around the world have been identified such as Jagmeet Singh, a Canadian lawyer and politician serving as Leader of the New Democratic Party since 2017.

Alberto Carlos Rivera Díaz, a Spanish lawyer and politician, who has been the leader of Citizens since July 2006. He is a member of the Congress of Deputies and a former member of the Parliament of Catalonia.

Heba Aly has been acknowledged for advancing human rights issues, humanitarian crises and international development on the global agenda.

On the entrepreneurial front, Vivy Yusof is the co-founder of FashionValet and The dUCk Group. She is a blogging veteran of 10 years who has been sharing insights about her life and entrepreneurial journey.

Iyinoluwa Aboyejio co-founded a digital payments platform that is addressing the issue of money transfer across Africa, empowering pan-African merchants to execute business on a global scale.

Bringing style and glamor to the leaders is Priyanka Chopra, Indian actress, singer, film producer, philanthropist, and the winner of the Miss World 2000 pageant.

Representing the media world is Faisal J. Abbas, journalist, author and Editor-in-Chief of the leading Middle East English-language daily, Arab News.

From the world of sport comes Nico Erik Rosberg, the German–Finnish former Formula One racing driver and 2016 Formula One World Champion. And Joy Dunn is senior manager of Spacecraft Solar Production at SpaceX.

The WEF said it is proud to invest in the continued and significant successes of these young global leaders - hoping that they galvanize unity and inspire integrity within a fractured global landscape.


G7 countries to release oil reserves in global push to tackle Iran war energy price surge 

Updated 8 sec ago
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G7 countries to release oil reserves in global push to tackle Iran war energy price surge 

  • IEA expected to recommend the largest oil reserve release in the agency’s history

RIYADH: Germany, the US, Japan and Austria will release part of their oil reserves after the International Energy Agency recommended the release of 400 million barrels of oil ‌from stockpiles, the largest ‌such move in IEA ​history.

Germany’s Economy ⁠Minister ​Katherina Reiche ⁠confirmed on Wednesday the government plans to limit petrol price increases at filling stations to once a day and to introduce more stringent antitrust regulation of the sector.

She did not ⁠give an exact timing for ‌those measures, but added that ‌the US and ​Japan would be the ‌largest contributors to the release of the ‌oil reserves.

The announcements did not stop oil prices rising, with Brent crude up 3.26 percent to $90.66 a barrel at 4:29 p.m Saudi time, and West Texas Intermediate up 3.12 percent to $86.05. Both were some way below the $119 a barrel seen earlier in the week.

“The situation regarding oil supplies is tense, as the Strait of Hormuz is currently virtually impassable,” Reiche said.

“We will comply with this request and ‌contribute our share, because Germany stands behind the IEA’s most important principle: mutual ⁠solidarity,” Reiche ⁠said about the IEA’s request.

According to a statement by Reiche’s ministry, Germany will contribute 2.64 million tonnes of oil. This corresponds to 19.51 million barrels.

Reiche stressed there was no supply shortage in the country, which has a legally mandated reserve of oil and oil products intended to cover 90 days’ demand.

The IEA’s move comes as countries are grappling with ​soaring crude prices amid ​the US-Israeli war with Iran. 

Austrian Economy Minister Wolfgang Hattmannsdorfer said his country was releasing part of the emergency oil reserve and extending the national strategic gas reserve, adding: “One thing is clear: in a crisis, there must be no crisis winners at the expense of commuters and businesses.”

Acting ahead of the IEA move, G7 ​member Japan announced plans to release 15 days' worth of ‌private-sector oil reserves and one month's worth of state oil reserves.

“Rather than wait for formal IEA approval ‌of a coordinated international reserve release, Japan will act first to ease global energy market supply and demand, releasing reserves as early as the 16th of this month,” Prime Minister Sanae Takaichi said in a broadcast statement.