WEF: War, disinformation, and climate dominate global threats in 2025

State-based armed conflicts are flagged as the most immediate concern for 23 percent of respondents, with wars in the Middle East, Sudan and Ukraine driving global instability. (AFP/File)
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Updated 18 January 2025
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WEF: War, disinformation, and climate dominate global threats in 2025

  • More than 900 global leaders highlight escalating geopolitical tensions, environmental crises and misinformation as critical issues shaping the year ahead
  • Davos to begin Jan. 20 amid fragmented global order marked by growing power rivalries, weakened multilateralism

LONDON: Escalating wars, rising disinformation, and intensifying climate challenges rank as the most pressing global threats for 2025, according to the World Economic Forum’s Global Risk Report, released Wednesday ahead of the Davos annual meeting.

Based on insights from 900 global leaders in business, politics and academia, the report highlights escalating geopolitical tensions, environmental crises and misinformation as critical issues shaping the year ahead.

“Rising geopolitical tensions and a fracturing of trust are driving the global risk landscape,” said Mirek Dusek, WEF managing director.

“In this complex and dynamic context, leaders have a choice: to find ways to foster collaboration and resilience, or face compounding vulnerabilities.”

State-based armed conflicts are flagged as the most immediate concern for 23 percent of respondents, with wars in the Middle East, Sudan and Ukraine driving global instability.

The forum will host a historic gathering of Middle Eastern leaders, including representatives from Iran, Syria, Yemen and Gulf countries, to discuss prospects for peace amid hopes of a ceasefire between Hamas and Israel after 15 months of devastating war that has killed tens of thousands of Palestinians.

Donald Trump, set to be sworn in as the 47th US president on Jan. 20, has vowed to end the war in Ukraine. He will deliver a virtual address to the forum on Jan. 23. Ukrainian President Volodymyr Zelensky will also attend and deliver a speech on Jan. 21.

“From conflicts to climate change, we are facing interconnected crises that demand coordinated, collective action,” said Mark Elsner, WEF’s head of the Global Risks Initiative, who urged world leaders to make “renewed efforts to rebuild trust and foster cooperation.” 

While conflicts rank as the most immediate threat, the survey highlights the climate crisis as the dominant risk of the next decade. Environmental risks — including extreme weather, biodiversity loss and critical changes to Earth’s systems — account for three of the top four long-term global concerns.

In 2024, global warming hit a record 1.54 degrees Celsius above pre-industrial levels, triggering catastrophic weather events, such as the Los Angeles wildfires, devastating floods in Spain caused by the DANA weather phenomenon and unprecedented rainfall across the Middle East, which triggered floods in the Arabian Peninsula and Sahara Desert for the first time in half a century.

“The climate and nature crisis requires urgent attention and action,” said Gim Huay Neo, the WEF’s managing director for the Center for Nature and Climate.

Two technology-related concerns ranked next on the list of global threats: “Misinformation and disinformation” and the “adverse outcomes of AI technologies.”

The survey, conducted between September and October, noted rising anxieties about misinformation. These concerns have intensified following Donald Trump’s election victory and his alignment with tech leaders like Elon Musk and Mark Zuckerberg, who are reportedly advocating for deregulation policies expected to benefit the tech industry.

It coincides with Zuckerberg’s recent decision to scale back fact-checking and content moderation across Meta’s platforms, a move widely criticized by experts as an appeasement of Trump, whose return to the White House will overlap with the forum’s opening.

Organizers are expecting 60 heads of state and government to attend, alongside chief executives and campaigners. Several ministers and business leaders from Saudi Arabia are also expected to take part.

The WEF’s report found that 64 percent of experts foresee a fragmented global order dominated by competition among middle and great powers, with multilateralism under significant strain.

Against this backdrop, the forum’s theme, “A Call for Collaboration in the Intelligent Age,” highlights the need for renewed cooperation, even as Trump’s anticipated policy shifts could undermine collective efforts on critical global issues, including the climate crisis.


Saudi Arabia leads GCC IPO market in 2025, raises $4.1bn: Markaz 

Updated 14 sec ago
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Saudi Arabia leads GCC IPO market in 2025, raises $4.1bn: Markaz 

RIYADH: Saudi Arabia strengthened its role in the Gulf Cooperation Council’s initial public offering market in 2025, raising $4.1 billion in proceeds, the highest in the region, according to an analysis. 

In its latest report, Kuwait Financial Center, also known as Markaz, said the Kingdom accounted for 79 percent of total GCC IPO proceeds during the year, underscoring growing investor interest in the nation’s capital markets. 

Saudi Exchange witnessed 13 IPOs in 2025, raising $3.7 billion, while the parallel market Nomu raised $336 million through 23 offerings. 

Developing a robust capital market ecosystem is crucial for countries in the GCC region, as they continue to pursue economic diversification efforts to reduce reliance on oil. 

Overall, the GCC region raised $5.1 billion through 40 offerings in 2025, representing a 61 percent decline compared to the previous year. 

“Corporate IPOs raised $3.9 billion, or 76 percent of the total GCC IPO proceeds during the year, through 37 offerings. While IPOs offered by government-related entities only accounted for 24 percent, amounting to $1.2 billion through 3 offerings,” said Markaz.  

In the region, the UAE came second with $544 million in proceeds through two IPOs. 

The Abu Dhabi Securities Exchange raised $163 million through Alpha Data’s IPO, while Dubai Financial Market raised $381 million through Alec Holdings’ IPO. 

Oman raised $333 million, or 7 percent of total GCC IPO proceeds, through the Asyad Shipping Co. IPO on the Muscat Securities Market. 

Kuwait saw the IPO of Action Energy Co. during the fourth quarter of 2025. The offering raised $180 million, constituting 4 percent of total GCC IPO proceeds for the year. 

Sectoral breakdown  

The industrials sector raised $1.9 billion, accounting for nearly 37 percent of total proceeds in 2025, with the largest contribution coming from Saudi Arabia’s flynas, which raised $1.1 billion. 

This was followed by the real estate sector with $1.2 billion, or 23 percent of total proceeds, from seven IPOs, including Umm Al Qura for Development and Construction and Dar Al Majed Real Estate Co. 

The healthcare sector raised $508 million, constituting 10 percent of total proceeds, through three IPOs — SMC Hospitals on Tadawul’s Main Market and Basma Adeem and Wajd Life Trading Co. on the Nomu parallel market. 

“The consumer discretionary sector saw $479 million in proceeds, constituting 9 percent of the total proceeds, through 10 IPOs, all in Saudi Arabia, while the financial services sector saw $400 million from Derayah Financial Co’s IPO on Tadawul, constituting 8 percent of the total GCC IPO proceeds during the year,” added Markaz.  

The next-largest contributors were the technology and energy sectors, each accounting for 4 percent of total proceeds, followed by materials and consumer staples at 3 percent each. 

Post-listing performance  

Top IPO gainers in 2025 benefited from attractive offer pricing, strong post-listing liquidity and exposure to sectors with clear growth or defensive characteristics. 

Markaz said listings on Tadawul, across both the Main Market and Nomu, saw performance supported by broad investor participation and sustained demand. 

The largest gainer was Ratio Speciality Co., listed on Nomu in March 2025, with its share price advancing 190 percent from its offering price of SR10. 

By contrast, some IPOs recorded negative performance, weighed down by overvaluation, limited liquidity and exposure to low-growth or margin-pressured sectors. 

“Companies faced structural challenges and muted post-listing investor interest, which negatively impacted performance throughout the year. The weakest performer was Smoh Almadi, listed on Nomu in January 2025, with shares that dropped by 60 percent after its offering price at SR22,” added Markaz.  

GCC markets’ performance  

Markaz said Oman’s Muscat Securities Market emerged as the best-performing index in the GCC region in 2025, advancing 28.1 percent year on year. 

Kuwait ranked second, posting gains of 25.3 percent. Dubai Financial Market rose 17.2 percent, while the Abu Dhabi Exchange gained 6.1 percent. 

Bahrain Bourse and the Qatar Stock Exchange recorded increases of 4.1 percent and 1.8 percent, respectively. 

However, Saudi Arabia’s Tadawul All Share Index declined 12.8 percent during the year. 

Looking ahead, GCC IPO activity is expected to rise in 2026 compared with 2025, driven by stable global interest rates and ongoing divestment initiatives, according to Markaz. 

“With strengthening investor confidence and evolving regulatory frameworks, the region is likely to attract a broader range of companies preparing for public offerings,” added the report.