The first inklings that something had gone badly wrong started to emerge around 9.30am GST.
Computers in Asia were showing the infamous "blue screen of death", known in the IT world as BSOD. Companies from airlines to supermarkets to television broadcasters and beyond were being shut out of their networks due to a global IT outage.
The source of the problem and the cause of chaos that ensued - hitting flights, banks, shops and TV - seemed to be an issue with an update that was being rolled out by CrowdStrike, one of the world's largest cybersecurity companies.
"CrowdStrike is aware of reports of crashes on Windows hosts related to the Falcon Sensor," the company said in an alert, as it started to roll back its faulty update.
What does CrowdStrike do?
As a company, CrowdStrike helps companies manage their security online, by protecting them against hackers, stopping data breaches and ransomware attacks.
As such, its customers number in the thousands across the global and include some of the world's largest companies.
CrowdStrike's chief executive, George Kurtz, a former staff member at the software security maker McAfee, founded the company 12 years ago.
What is Falcon Sensor?
The company's main product is CrowdStrike Falcon, which it describes on its website as "providing real-time indicators of attack, hyper-accurate detection and automated protection".
It's believed that an update to its Falcon Sensor software is the cause of the IT outage as it effectively caused a fault with computers running Windows software, as users experienced the BSOD and were such out of their systems.
What was the impact?
Because the Falcon update was coming through Windows, the speed and scale of the impact was enormous. By Microsoft's own calculations there are about 1.4 billion Windows PCs worldwide, which are in use in different industries.
This means that the faulty update caused retailers' payment systems to crash, and airline computer systems to fail, which led to thousands of planes being grounded and global broadcasters to fall off air. In addition, train companies and airports were thrown into chaos and medical services were disrupted, while banks and stock exchanges had issues.
Essentially, every transaction, payment or booking made online using Windows software that received the Falcon update was potentially vulnerable.
Many people had to resort to paying cash, as retailers were unable to accept cards on Friday morning.
Share price plunges
CrowdStrike's share price plunged 15 per cent in pre-market trading in the US on the back of the global IT outage.
Essential CrowdStrike's shares are owned by institutional investors, who own 40 per cent of the stock and public companies and individual retail investors who own 57 per cent of the company.
The US investment fund, Vanguard Group is the largest single investor with a slice of the company that amounts to just less than 7 per cent.
What has CrowdStrike said?
Mr Kurtz said that the company was "actively working with customers impacted by a defect found in a single content update for Windows hosts.
"Mac and Linux hosts are not impacted. This is not a security incident or cyberattack. The issue has been identified, isolated and a fix has been deployed."
As the world awaits for the fix to roll out, Kevin Reed, chief information security officer of Swiss-based cybersecurity firm Acronis, said the update "necessitates manual intervention to resolve, specifically rebooting systems in 'safe mode' and deleting the faulty driver file.
"This process is cumbersome and leaves systems vulnerable in the interim, potentially inviting opportunistic attacks."
Meanwhile, cyber security expert Dan Card, from BCS, The Chartered Institute for IT, said that "companies should make sure their IT teams are well supported as it could be a difficult and highly stressful weekend for them as they help customers".
"People often forget the people that are running around fixing things," he added.
Four reasons global stock markets are falling right now
There are many factors worrying investors right now and triggering a rush out of stock markets. Here are four of the biggest:
1. Rising US interest rates
The US Federal Reserve has increased interest rates three times this year in a bid to prevent its buoyant economy from overheating. They now stand at between 2 and 2.25 per cent and markets are pencilling in three more rises next year.
Kim Catechis, manager of the Legg Mason Martin Currie Global Emerging Markets Fund, says US inflation is rising and the Fed will continue to raise rates in 2019. “With inflationary pressures growing, an increasing number of corporates are guiding profitability expectations downwards for 2018 and 2019, citing the negative impact of rising costs.”
At the same time as rates are rising, central bankers in the US and Europe have been ending quantitative easing, bringing the era of cheap money to an end.
2. Stronger dollar
High US rates have driven up the value of the dollar and bond yields, and this is putting pressure on emerging market countries that took advantage of low interest rates to run up trillions in dollar-denominated debt. They have also suffered capital outflows as international investors have switched to the US, driving markets lower. Omar Negyal, portfolio manager of the JP Morgan Global Emerging Markets Income Trust, says this looks like a buying opportunity. “Despite short-term volatility we remain positive about long-term prospects and profitability for emerging markets.”
3. Global trade war
Ritu Vohora, investment director at fund manager M&G, says markets fear that US President Donald Trump’s spat with China will escalate into a full-blown global trade war, with both sides suffering. “The US economy is robust enough to absorb higher input costs now, but this may not be the case as tariffs escalate. However, with a host of factors hitting investor sentiment, this is becoming a stock picker’s market.”
4. Eurozone uncertainty
Europe faces two challenges right now in the shape of Brexit and the new populist government in eurozone member Italy.
Chris Beauchamp, chief market analyst at IG, which has offices in Dubai, says the stand-off between between Rome and Brussels threatens to become much more serious. "As with Brexit, neither side appears willing to step back from the edge, threatening more trouble down the line.”
The European economy may also be slowing, Mr Beauchamp warns. “A four-year low in eurozone manufacturing confidence highlights the fact that producers see a bumpy road ahead, with US-EU trade talks remaining a major question-mark for exporters.”
Temple numbers
Expected completion: 2022
Height: 24 meters
Ground floor banquet hall: 370 square metres to accommodate about 750 people
Ground floor multipurpose hall: 92 square metres for up to 200 people
First floor main Prayer Hall: 465 square metres to hold 1,500 people at a time
First floor terrace areas: 2,30 square metres
Temple will be spread over 6,900 square metres
Structure includes two basements, ground and first floor
Vidaamuyarchi
Director: Magizh Thirumeni
Stars: Ajith Kumar, Arjun Sarja, Trisha Krishnan, Regina Cassandra
Rating: 4/5
Results
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Why are asylum seekers being housed in hotels?
The number of asylum applications in the UK has reached a new record high, driven by those illegally entering the country in small boats crossing the English Channel.
A total of 111,084 people applied for asylum in the UK in the year to June 2025, the highest number for any 12-month period since current records began in 2001.
Asylum seekers and their families can be housed in temporary accommodation while their claim is assessed.
The Home Office provides the accommodation, meaning asylum seekers cannot choose where they live.
When there is not enough housing, the Home Office can move people to hotels or large sites like former military bases.
SPECS
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Farage on Muslim Brotherhood
Nigel Farage told Reform's annual conference that the party will proscribe the Muslim Brotherhood if he becomes Prime Minister.
"We will stop dangerous organisations with links to terrorism operating in our country," he said. "Quite why we've been so gutless about this – both Labour and Conservative – I don't know.
“All across the Middle East, countries have banned and proscribed the Muslim Brotherhood as a dangerous organisation. We will do the very same.”
It is 10 years since a ground-breaking report into the Muslim Brotherhood by Sir John Jenkins.
Among the former diplomat's findings was an assessment that “the use of extreme violence in the pursuit of the perfect Islamic society” has “never been institutionally disowned” by the movement.
The prime minister at the time, David Cameron, who commissioned the report, said membership or association with the Muslim Brotherhood was a "possible indicator of extremism" but it would not be banned.
Skoda Superb Specs
Engine: 2-litre TSI petrol
Power: 190hp
Torque: 320Nm
Price: From Dh147,000
Available: Now
UAE currency: the story behind the money in your pockets
Brief scoreline:
Liverpool 2
Mane 51', Salah 53'
Chelsea 0
Man of the Match: Mohamed Salah (Liverpool)
Brief scores:
Arsenal 4
Xhaka 25', Lacazette 55', Ramsey 79', Aubameyang 83'
Fulham 1
Kamara 69'
The distance learning plan
Spring break will be from March 8 - 19
Public school pupils will undergo distance learning from March 22 - April 2. School hours will be 8.30am to 1.30pm
Staff will be trained in distance learning programmes from March 15 - 19
Teaching hours will be 8am to 2pm during distance learning
Pupils will return to school for normal lessons from April 5
