Artificial Intelligence Saudi networking platform Halo AI secures $6m funding Saudi networking platform Halo AI has secured $6 million in seed funding to expand globally in a funding round led by Raed Ventures and Shorooq Partners, highlighting the Gulf region’s enthusiasm for artificial intelligence. Halo AI seeks to connect content creators and brands using highly autonomous or “agentic” AI technology developed by tech leaders such […] January 16, 2025
Analysis Banking & Finance Gulf sets ambitious targets in its quest to go cashless The Middle East has set ambitious targets in its bid to become a cashless society. The UAE is aiming for 75 percent of transactions to be cashless by 2026 and Saudi Arabia has set a target of 70 percent by 2030. Late last year, the process was made simpler by the introduction of Tap to […] January 16, 2025
Tech Abu Dhabi seeks bidders for unified data centre project Abu Dhabi has issued a request for qualifications (RFQ) to develop a unified data centre, a critical part of its plan to consolidate digital infrastructure across more than 40 government entities in the UAE capital. A unified data centre is a centralised facility that securely stores and manages data and applications, serving as the backbone […] January 15, 2025
Analysis Tech US and China in race to get their tech into Gulf markets Gulf countries are likely to face mounting pressure to adopt American technology as the US tries to exploit its best-in-class semiconductor and artificial intelligence products to muscle China out of their markets before the Asian superpower catches up. The US is walking a fine line between increasing the regional uptake of its chips and software […] November 7, 2024
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 Dhabi’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
