|  Europe’s converging media has come more sharply into focus following the €33m investment by four venture capital and media groups in Joost, the online television service set to launch later this year. The investment group consists of the founders of Skype, Index Ventures, a European venture capital firm that invests in technologies, and Sequoia, which previously invested in Google and YouTube. They are joined by CBS Corp, Viacom and Li Ka Shing, chairman of Hutchison Whampoa. Global advertisers already include the Coca-Cola Company, Intel, Nike, Nokia and Virgin Money. In a bid to bag more entertainment content Joost has signed on with Hollywood talent agency Creative Artists Agency, which represents, among others, Cameron Diaz, George Clooney and Brad Pitt. CBS has also contributed more than 2,000 hours of entertainment and Viacom is providing channels and programming.
The European Commission has tabled a proposal to tackle high-tech crimes such as online fraud, child pornography and hacking. “The number of cyber crimes is growing and criminal activities are becoming increasingly sophisticated and internationalised,” says EU home affairs commissioner Franco Frattini. He claims public-private co-operation could lead to the EU-wide blocking of sites containing illegal content, as well as the private sector sharing relevant information with law enforcers. Currently, companies and ISPs are reluctant to hand over sensitive information, arguing they protect business secrets. “We need to prepare for cyber terrorism… and address it in a rapid and much more co-ordinated way” insisted Estonian MEP Tunne Kelam following systematic cyber-attacks something Tallinn claims has been orchestrated by Moscow. Ironically, in 2003, Estonia began developing a “centre of excellence on co-operative cyber-defence”.  The global market for carbon offsetting tripled in value to $30bn in 2006 according to The World Bank. The bulk of that (around $25bn) was generated by the EU’s Emissions Trading Scheme (ETS). The rest belonged to the voluntary, unregulated carbon market located mostly in the UK and US. This rise in carbon offsetting came despite the absence of standards in the voluntary market. A major concern at May’s Carbon-Expo conference in Cologne was that people were paying for offsetting without knowing if schemes were effective, let alone value for money. Meanwhile, a successor to the Kyoto protocol and carbon trading after 2012 hangs in the balance. With the very word ‘Kyoto’ politically explosive in the US, the forthcoming G8 summit is expected to disappoint carbon trading proponents who want firm targets for the reduction of greenhouse gases, thus further stimulating the cap and trade system behind the ETS.
The World Economic Forum Middle East, held in Jordan in May, concluded that the region must greatly expand its spending on education to empower its populations. The forum said historic enmities and extremism needed to end, and called for new opportunities and jobs need to be created to unlock competitive potential and end overdependence on oil revenues. “We are on the brink of the new Middle East – young, entrepreneurial, empowered,” said Khaldoon Al Mubarak, chief executive officer of the UAE’s Mubadala Development Company. Dubai’sSheikh Mohammed bin Rashid Al Maktoum announced that he will invest $10bn to promote development and education. |