Tech UAE bypasses Nvidia chip restrictions to grow AI capabilities The UAE has established a way to use Nvidia’s powerful AI chips to boost its own artificial intelligence capabilities, despite recent US export restrictions within the sector. Core42, a subsidiary of Mubadala-backed G42, announced last week that it has developed a specialised system to deploy Nvidia’s H100 Tensor. This new set-up, which the company calls […] October 17, 2024
Tech Mubadala acquires majority stake in Spanish IT company Abu Dhabu’s Mubadala Capital has agreed to acquire a controlling stake in Babel, a Madrid-based IT and digital transformation services provider. The acquisition, which is subject to regulatory approval, further expands Mubadala’s presence in the business services sector, following its earlier purchase of Dutch safety-critical training company RelyOn Nutec this year. The terms of the […] October 4, 2024
Cybersecurity Information security for SMEs: available option or uphill battle? Ensuring protection against data leaks and corporate fraud is difficult and expensive, but there is a solution, says Lev Matveev, chairman of the board of directors at SearchInform October 1, 2024 In association with
Cybersecurity Turkey aims for higher level of cybersecurity Turkey has outlined plans for a new cybersecurity directorate to encourage private sector research and new startups. Vice President Cevdet Yılmaz said last week that the directorate would be established in the autumn as part of a campaign to strengthen the state’s defences against all forms of cyber attack. “We have more or less completed […] October 1, 2024
Tech Global cloud platforms offer Saudis data protection promises Saudi Arabia’s cloud computing market is heating up as global players find a footing in the country with promises to secure government information. Saudi Arabia has set aside $18 billion to become a regional leader in cloud computing, the Saudi Data and AI Authority said this week, allowing foreign companies to open data centres. Saudi […] September 13, 2024
Finance UAE introduces regulations to clean up crypto market The UAE has taken steps towards regulating its payments sector with the introduction of Payment Token Services Regulation in an attempt to push out fraudulent crypto companies and attract legitimate businesses. The new regulations introduced by the Central Bank of the UAE (CBUAE) focus heavily on stablecoins – digital currencies pegged to a real-world asset […] June 28, 2024
Cybersecurity Crypto exchange Rain suffers $15m hack Rain, a cryptocurrency exchange regulated in both the UAE and Bahrain, has confirmed a serious hack resulting in losses reportedly nearing $15 million. The exchange said in a statement on its website on Tuesday that customer funds remain secure despite the incident. The security breach occurred on April 29 and was first detected by blockchain […] May 16, 2024
Manufacturing Saudi Arabia willing to drop China for US tech alliance Saudi Arabia will sever technology ties with China if the United States compels it to, the chief executive officer of Alat, an investment company backed by $100 billion in capital from the Public Investment Fund, has revealed. According to Bloomberg US officials have told their Saudi Arabian counterparts that they will have to decide between […] May 9, 2024
EXCLUSIVE Finance Binance clamps down on suspicious UAE crypto trades Binance has blocked hundreds of thousands of suspicious cryptocurrency transactions in the UAE as it ramps up compliance efforts, senior executives have told AGBI. The business, which is the world’s largest crypto exchange, received nearly 60,000 law enforcement requests from governments around the world in 2023 after heightened regulatory scrutiny. Meera Judge, the Dubai-based director […] May 7, 2024
Education Cybercrooks have their eyes on Gulf schools, experts warn The education sector in the GCC has emerged as a prime target for cybercriminals because of budgetary constraints and a lack of expertise, tech experts have told AGBI. “Schools, in particular, are vulnerable due to their extensive storage of sensitive personal information and comparatively lower investments in cybersecurity,” said Ram Narayanan, country manager at Check […] April 30, 2024
Tech Investcorp buys Indian tech company for $120m Bahrain’s alternative asset manager, Investcorp, is to acquire the digital technology business of India’s National Stock Exchange (NSE) for $120 million. NSEIT provides advanced digital transformation and cybersecurity services to global customers in capital markets, insurance and banking in India, North America and the Middle East. The services include digital engineering, data and analytics, artificial intelligence, cloud services […] April 30, 2024
Cybersecurity UAE is a ‘prime target’ for ransomware attacks The UAE is a “prime target” for ransomware attacks, the country’s Cyber Security Council has warned. Its 2024 State of the UAE Cybersecurity report says the Emirates’ rapid digital transformation has increased its vulnerability to cyberattacks, including ransomware incidents and distributed denial of service (DDoS) attacks. “The broader Middle East region” is a target for […] April 8, 2024
Cybersecurity PIF entities invest $133m in South Korea’s AhnLab A technology subsidiary of the Public Investment Fund (PIF) will set up a joint venture with South Korea’s AhnLab to develop and localise multiple cybersecurity technologies in Saudi Arabia. Saudi Information Technology Company (Site) and its subsidiary, Site Ventures, will invest more than SAR500 million ($133 million) in the venture to carry out research and […] April 4, 2024
Analysis Cybersecurity Saudi Arabia steps up battle against AI cyberattacks Twelve years after hackers brought oil production at Saudi Aramco to a halt for more than a week, Saudi Arabia is still susceptible to cyberattacks, a study had found. A survey of 8,000 private sector companies in 30 countries by Cisco AI Readiness Index revealed that the number and impact of attacks was rising and […] March 22, 2024
Cybersecurity UAE authority issues security alert for Google Chrome users The UAE Cyber Security Council has issued a high-risk alert for those using the desktop version of Google Chrome browser. Google released Google Chrome security updates last week to patch several high-risk vulnerabilities that could allow attackers to remotely execute code on affected systems or compromise sensitive data. The UAE’s council recommended updating to the […] February 26, 2024
Cybersecurity Mena cybersecurity spend grows to $3.3bn to fight AI crime Spending on cybersecurity and risk management in the Middle East and North Africa will rise 12 percent in 2024 to $3.3 billion, the research group Gartner is forecasting. The rise in spending is a reaction to the growing use of generative AI to create fake information and fake images for use in cybercrime. Shailendra Upadhyay, […] February 19, 2024
Opinion Cybersecurity Fighting cybercrime in the age of quantum computing The Middle East must learn to navigate the threats and the opportunities January 25, 2024
Tech Mena IT spend expected to reach $184bn this year IT spending in the Middle East and North Africa is projected to increase by four percent in 2024, as companies focus on upgrading software and embracing generative AI. Spending is estimated to reach $183.8 billion, a slight increase from $176.8 billion in 2023, according to US tech company Gartner. The use of generative AI will […] January 24, 2024
Opinion Logistics The Saudi ecommerce surge is transforming logistics A young, digitally savvy population is changing the way the kingdom does business January 22, 2024
Tech UAE ransomware attacks decline but payout size grows Ransomware attacks in the UAE have declined significantly but the amount of money being demanded has risen, according to the Gulf state’s Cyber Security Council chief Dr Mohamed Al Kuwaiti. Speaking at Intersec, the security and safety conference in Dubai, Dr Al Kuwaiti did not disclose specific numbers, but cybersecurity company Kaspersky has reported a […] January 19, 2024
Opinion Economy GCC can emerge as ‘Middle Powers’ in second Cold War Three factors will enable the GCC to benefit from the fragmentation January 9, 2024
Tech Half of UAE businesses feel at risk from data attacks More than half of UAE businesses still perceive themselves at risk from data security threats, a new report has found. The Data Risk Management 2023 UAE report by Veritas Technologies showed that in the past two years 73 percent of organisations surveyed fell victim to ransomware attacks. That is substantially higher than the global figure […] January 7, 2024
