Twelve blue economy start-ups from around the world have presented their innovative solutions in Malta during a recent Blue Economy Accelerator Demo Day. The activity, organised by the ClimAccelerator Malta together with the Malta Digital Innovation Authority and supported by MeDirect, was the culmination of an intensive programme which began in January. Through this programme, these start-ups have been given the opportunity to access mentoring, funding and other support to develop and test their products and services.
The Demo Day saw companies from the EU, UK, Turkey, UAE and Canada pitch solutions which, among others, tackle plastic pollution in the oceans, the carbon emissions of ships, pollution in ports and marinas, the use of wastewater in aquaculture, desalination and ocean data collection.
At the end of the event, three winners were announced. 0gyre, a project which aims to convert plastic waster collected by fishermen into a resource, came out on top in the Impact category. AlgaeScope, which uses seaweed to replace chemicals used in textile manufacturing and Planetixx which provides global ocean monitoring through satellite imagery jointly won the Hyper Growth category. All winners received various prizes, including the opportunity to take part in the semi-finals of the Start-up World Cup 2025. These prizes were over and above the up to €4 million equity investment available to selected startups, and support in accessing up to €1 million in public funding.
Cressida Galea, Head of Sustainability & Regulatory Affairs at MeDirect, said, “Developing the blue economy means creating sustainable jobs and prosperity while also protecting our seas and oceans. As a commercial organisation which is also fully committed to sustainability, events such as this Demo Day are an excellent opportunity for MeDirect to support the innovation we need in our economy. The sea has always played a vital role in Malta’s development and programmes like Malta ClimAccelerator show that it can continue to do so well into the future.”
The ClimAccelerator Malta supports start-ups and entrepreneurs developing breakthrough digital and climate-tech solutions, playing a key role in developing the innovation ecosystem in Malta and internationally. In partnership with the European Institute of Innovation and Technology, its mission is to contribute to a more sustainable and more digital tomorrow. For more information visit https://www.maltaccelerate.com/
Wei Li – Global Chief Investment Strategist of BlackRock Investment Institute together with Glenn Purves – Global Head of Macro, Bruno Rovelli – Chief Investment Strategist for Italy and Carolina Martinez Arevalo – Portfolio Strategist, all forming part of the BlackRock Investment Institute share their insights on global economy, markets and geopolitics. Their views are theirs alone and are not intended to be construed as investment advice.
Key Points
Staying selective : We still see tariffs causing further contractions in quarterly activity but the cumulative impact may be more limited. We eye opportunities from mega forces.
Market backdrop : U.S. stocks ticked down last week after a tech-driven rally over easing restrictions on AI chip exports. UK stocks rose on news of a U.S.-UK trade deal.
Week ahead : We’re looking for early signs of tariffs pushing up inflation in U.S. CPI data out this week. Sticky inflation will limit how far the Federal Reserve can cut rates.
The U.S.-China deal represents a major de-escalation in the trade conflict. Three key takeaways? First, it reaffirms that the hard economic rules we’ve been flagging will shape policy. Second, tariffs will likely bring more supply-driven contractions in quarterly activity, but the cumulative impact on overall 2025 activity could be more limited. Third, the deal gives a sense of where the U.S. effective tariff rate will settle. We stay risk on, monitoring corporate earnings reports for selective opportunities.
The 90-day cut to U.S.-China tariffs shows a hard economic rule shaping policy: supply chains can’t be rewired quickly without disruption. That’s reflected in both nations’ explicit goal of avoiding economic “decoupling.” We still think tariffs will up inflation and hurt growth, with recession-like effects in coming quarters. Earnings estimates often suffer steep cuts when activity slumps. See the chart. Analysts have already cut forecasts for broad S&P 500 earnings growth from 14% in January to 8.5%, a slightly bigger drop than in an average year, per LSEG data. Yet the cumulative impact on overall 2025 activity may be more limited. The U.S. average effective tariff rate could land around 10-15%, we estimate, higher than at the start of 2025 but a more manageable economic disruption. We stay positive on developed market (DM) stocks and see mega forces creating select opportunities.
As we track how evolving tariffs ripple out, we see three key themes in Q1 earnings reports. First, moving production to the U.S. or countries on better terms with the U.S. has, for the first time, been discussed on all Q1 earnings calls so far, per Alphasense data. Some are now giving timelines. Second, many firms look set to accept higher input costs as supply chains adjust. The latest external estimates see tariffs denting net earnings by around 5%. Third, 60% of companies updating their spending plans are now guiding below consensus forecasts – up from 40% at the start of the year but still below the 71% hit in the pandemic, Bank of America and FactSet data show. Yet opportunities persist in certain sectors. Big tech is reaffirming or upping AI-linked investment, for example. And Q1 results show U.S. companies are starting from a position of strength.
What we like
In Europe, infrastructure and defense spending plans have led us to upgrade European equities to neutral. Yet execution of those plans is key – and the new German chancellor’s limited coalition support highlights potential obstacles. Europe’s Stoxx 600 has performed broadly on par with the S&P 500 since the April 2 tariff announcement and European earnings estimates for 2025 have fallen to 3.5% from 8% in January. Yet that masks divergence. Financials are up over 20% this year, thanks to persistently high yields and strong company and household balance sheets. We’ve preferred Spain since the start of 2025 due to strong growth and exposure to financials, utilities and infrastructure – sectors that benefit from mega forces. Spanish stocks are also less exposed to U.S. tariffs: only 5% of its exports are U.S.-bound, less than the EU average, trade data show. Japanese equities offer another bright spot: Ongoing corporate reforms keep us overweight on a currency-unhedged basis.
Structural shifts also call for selectivity in other asset classes. Gold has been a better buffer against geopolitical risks than other traditional safe-haven assets since April 2. It has soared, while long-term U.S. Treasuries and the U.S. dollar have – unusually – slid alongside stocks, Bloomberg data show. Under new regulation, U.S. banks will soon be able to treat gold as a high-quality asset on their balance sheets. That could drive demand and make gold a core holding.
Our bottom line
We still see supply disruptions upping inflation and hitting growth, but also a path to avoiding a U.S. contraction over 2025 as a whole. Mega forces, greater fiscal spending and higher interest rates are driving select opportunities.
Market backdrop
U.S. stocks ticked down last week after a tech-driven rally on reports the U.S. plans to lift restrictions on AI chip exports. The S&P 500 remains 8% below February’s record high. The UK’s FTSE 250 rose more than 1% last week and hit a two-month high after the Bank of England cut rates by 25 basis points and the U.S. signed a trade deal with the UK. U.S. two-year and 10-year Treasury yields were largely steady at 3.89% and 4.39% respectively as the Federal Reserve left rates unchanged.
U.S. CPI data for April is in focus this week. While it’s probably too soon to see the early April tariffs pushing up directly on inflation, we’re watching for signs of an uptick in core goods prices. We think sticky inflation will make it difficult for the Fed to cut interest rates much this year as it grapples with a now sharper trade-off between protecting growth and reining in inflation.
Week Ahead
May 13 : U.S. CPI
May 15 : Japan GDP; Philly Fed Business index
May 16 : University of Michigan consumer sentiment survey
BlackRock’s Key risks & Disclaimers:
This material is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. The opinions expressed are as of 12th May, 2025 and may change. The information and opinions are derived from proprietary and non-proprietary sources deemed by BlackRock to be reliable, are not necessarily all-inclusive and are not guaranteed as to accuracy. As such, no warranty of accuracy or reliability is given and no responsibility arising in any other way for errors and omissions (including responsibility to any person by reason of negligence) is accepted by BlackRock, its officers, employees or agents. This material may contain ’forward looking’ information that is not purely historical in nature. Such information may include, among other things, projections and forecasts. There is no guarantee that any forecasts made will come to pass. Reliance upon information in this material is at the sole discretion of the reader.
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In today’s digital age, artificial intelligence (AI) is revolutionising many industries, including cybersecurity. Unfortunately, cybercriminals are also harnessing the power of AI to develop more sophisticated ransomware attacks. Understanding how these attacks work and taking proactive steps to protect yourself is crucial.
The Rise of AI-Powered Ransomware
AI has become a powerful tool for cybercriminals, enabling them to automate and enhance various stages of a ransomware attack. For example, AI can automate reconnaissance, vulnerability targeting and encryption. This helps criminals to speed up the attack cycle and reduce the need for human intervention. Machine learning algorithms are also able to analyse profiles and create highly personalised phishing emails. This makes it more likely that attacks succeed. Most critically, AI enables ransomware to adapt and evolve, making it harder for traditional security measures to detect and block attacks.
Steps to Protect Yourself from Ransomware
While the threat of AI-powered ransomware is real, there are several steps you can take to protect yourself. The most important is to frequently backup your data and to use multiple storage locations, including offsite and cloud storage. This prevents data loss in case of an attack. You should also ensure that all your software, including operating systems and applications, are up to date. Updates often include patches for security vulnerabilities that ransomware can exploit. Make sure you have a strong password, which you change frequently and implement 2 Factor Authentication to access your data. This makes it harder for cybercriminals to access your accounts by adding an extra layer of security.
Other steps you can take to protect yourself include avoiding opening email attachments or clicking on links from unknown or suspicious sources and using comprehensive security solutions that include antivirus, anti-malware and firewall protection to safeguard your devices. It is vital that these are regularly updated to remain effective in detecting and removing malicious progammes.
Stay Informed and Vigilant
As AI continues to evolve, so too will the tactics used by cybercriminals. Staying informed about the latest threats and maintaining good cybersecurity practices are essential to protecting yourself and your data.
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