Emerging technologies are rapidly transforming industries and redefining societal norms, the World Economic Forum says. Getty / Nick Donaldson
Emerging technologies are rapidly transforming industries and redefining societal norms, the World Economic Forum says. Getty / Nick Donaldson
Emerging technologies are rapidly transforming industries and redefining societal norms, the World Economic Forum says. Getty / Nick Donaldson
Emerging technologies are rapidly transforming industries and redefining societal norms, the World Economic Forum says. Getty / Nick Donaldson

UAE targets long-term cyber resilience in face of hacking threat


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The comprehensive approach to cyber security used in the UAE and Singapore is needed to achieve long-term resilience with threats evolving in size and scope as new technology emerges, according to a new report from the World Economic Forum.

New technology and devices are giving cyber criminals “an increased attack surface” which is only widening, the Switzerland-based body said in a new white paper released on Wednesday. Building a sustainable system of security with ethical foundations and threat measures is key, it found.

“The UAE has much more holistic analysis of technology. They don't just build it for one single use,” said Dr Hoda Alkhzaimi, co-chairwoman of the WEF's Global Future Council for Cyber Security.

This is in contrast to global dominant approach of seeking the “huge economic value of a first movers advantage”, Dr Alkhzaimi, one of the lead authors of the report, told The National.

The goal of most countries is to invest in research and development to tap into the technology first, and compel others to be users and mass distributors, as opposed to developers.

“They tend to sacrifice governance, security and reliability structures,” said Dr Alkhzaimi, especially as emerging advanced technologies such as large language models introduce new problems such as the ability to hallucinate. “That can bring a level of error into the market.”

The WEF report looks beyond profitability to measure cyber resilience, factoring in actions that build opportunity and long-term value from emerging technologies, she added.

“You have to have the responsible behaviour of establishing a risk framework around every technology that you are bringing to market – the effects, the impact, the threats, the vulnerabilities – before we bring them to the market,” she said.

“Technology needs to be robust and trusted, and this is what we want – versus the commercial approach.”

Rapid growth

Entry points for potential cyber-attacks are growing at an “unprecedented” rate, and that will only continue with the number of Internet of Things devices expected to surpass 32 billion by 2030, the WEF report said.

That is double the 15.9 billion devices of 2023 and could be near 40 billion by 2033, data from Transforma Insights and Exploding Topics shows.

The global community is investing and implementing this emerging technology as it is critical for economic sovereignty and governance, said Dr Al Khzaimi.

"Over 100 critical and emerging technologies are being developed at the moment to capture global economic competitive and monopolistic advantages globally by different players," she added.

Emerging technologies such as AI, quantum computing, IoT, blockchain and biotechnology are rapidly transforming industries and redefining societal norms, the WEF report said.

The accompanying significant increase in cyber security risks requires a “fundamental shift in approach to technology development and deployment”, with the traditional mindset of security by design now insufficient.

“Instead, there is a pressing need to adopt a 'resilience by design' approach, which goes beyond mere protection to ensure that systems can withstand and recover from the inevitable attacks that will occur as these technologies continue to evolve and proliferate,” the report said.

A different approach

The UAE’s regulatory frameworks, promoting collaboration and investing in research and development, “provides an interesting case study of a nation working to anticipate and adapt to technological changes before they reach their crescendo”, the study said.

By balancing technological advances with ethical considerations and robust security measures, the Arab world's second-largest economy “aims to maintain its leadership in technological innovation and ensure a secure and competitive tech ecosystem”.

Singapore, meanwhile, continues to work on adopting a comprehensive multi-stakeholder strategy designed to enhance cyber security resilience through research, innovation and supply-chain risk management, the WEF said.

South-East Asia's third-biggest economy continues to refine this approach by “focusing on promoting innovation, developing cybersecurity talent and enhancing supply chain risk management”, it added.

This reflects a defensive approach, which focuses more on building cyber resilience from within and attracting the talent to do so, Oyku Isik, a professor of digital strategy and cybersecurity at the Lausanne-based IMD Business School for Management, told The National.

The UAE and Singapore “have the advantage of being a small country, [but] they have been already digital from the very early days. They've been investing in this … they have also been super proactive in creating a sustainable ecosystem and paying attention to bringing in talent and with upskilling programmes”, said Ms Isik, a contributor to the WEF report.

Last month, the UAE was named as a global leader for its efforts to bolster cyber security measures, securing the highest tier-one rating – for countries viewed as role models in the sector – in the International Telecommunication Union's Global Cybersecurity Index 2024.

'Hack the hackers'

The world's two largest economies take a more outward approach: they tend to focus more on attacking potential threats before they could even infiltrate their systems – “hacking the hackers before they hack you”, Ms Isik said.

This method has resulted in two key dynamics: economic impact and a cautious approach when it comes to China.

The US's focus on offensive security has resulted in the private sector bearing the brunt, as most cyber gangs focus on private corporations, risking a potential significant impact on the economy, Ms Isik said, citing research resources.

China, which has been accused of being a national security threat through the devices manufactured in the country – allegations it has consistently denied – has prompted other countries to take precautionary measures.

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UAE v Gibraltar

What: International friendly

When: 7pm kick off

Where: Rugby Park, Dubai Sports City

Admission: Free

Online: The match will be broadcast live on Dubai Exiles’ Facebook page

UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

Timeline

2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence 

December 2024

Petrofac enters into comprehensive restructuring to strengthen the financial position of the group

May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

November 2025

180 Petrofac employees laid off in the UAE

Name: Peter Dicce

Title: Assistant dean of students and director of athletics

Favourite sport: soccer

Favourite team: Bayern Munich

Favourite player: Franz Beckenbauer

Favourite activity in Abu Dhabi: scuba diving in the Northern Emirates 

 

Huroob Ezterari

Director: Ahmed Moussa

Starring: Ahmed El Sakka, Amir Karara, Ghada Adel and Moustafa Mohammed

Three stars

UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

The specs

Engine: four-litre V6 and 3.5-litre V6 twin-turbo

Transmission: six-speed and 10-speed

Power: 271 and 409 horsepower

Torque: 385 and 650Nm

Price: from Dh229,900 to Dh355,000

Indoor cricket in a nutshell

Indoor Cricket World Cup - Sep 16-20, Insportz, Dubai

16 Indoor cricket matches are 16 overs per side

8 There are eight players per team

There have been nine Indoor Cricket World Cups for men. Australia have won every one.

5 Five runs are deducted from the score when a wickets falls

Batsmen bat in pairs, facing four overs per partnership

Scoring In indoor cricket, runs are scored by way of both physical and bonus runs. Physical runs are scored by both batsmen completing a run from one crease to the other. Bonus runs are scored when the ball hits a net in different zones, but only when at least one physical run is score.

Zones

A Front net, behind the striker and wicketkeeper: 0 runs

B Side nets, between the striker and halfway down the pitch: 1 run

Side nets between halfway and the bowlers end: 2 runs

Back net: 4 runs on the bounce, 6 runs on the full

Desert Warrior

Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley

Director: Rupert Wyatt

Rating: 3/5

Living in...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.

Sole survivors
  • Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
  • George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
  • Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
  • Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
How to donate

Send “thenational” to the following numbers or call the hotline on: 0502955999
2289 – Dh10
2252 – Dh 50
6025 – Dh20
6027 – Dh 100
6026 – Dh 200

'Champions'

Director: Manuel Calvo
Stars: Yassir Al Saggaf and Fatima Al Banawi
Rating: 2/5
 

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Libya's Gold

UN Panel of Experts found regime secretly sold a fifth of the country's gold reserves. 

The panel’s 2017 report followed a trail to West Africa where large sums of cash and gold were hidden by Abdullah Al Senussi, Qaddafi’s former intelligence chief, in 2011.

Cases filled with cash that was said to amount to $560m in 100 dollar notes, that was kept by a group of Libyans in Ouagadougou, Burkina Faso.

A second stash was said to have been held in Accra, Ghana, inside boxes at the local offices of an international human rights organisation based in France.

How to wear a kandura

Dos

  • Wear the right fabric for the right season and occasion 
  • Always ask for the dress code if you don’t know
  • Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work 
  • Wear 100 per cent cotton under the kandura as most fabrics are polyester

Don’ts 

  • Wear hamdania for work, always wear a ghutra and agal 
  • Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying

Revival
Eminem
Interscope

What is the definition of an SME?

SMEs in the UAE are defined by the number of employees, annual turnover and sector. For example, a “small company” in the services industry has six to 50 employees with a turnover of more than Dh2 million up to Dh20m, while in the manufacturing industry the requirements are 10 to 100 employees with a turnover of more than Dh3m up to Dh50m, according to Dubai SME, an agency of the Department of Economic Development.

A “medium-sized company” can either have staff of 51 to 200 employees or 101 to 250 employees, and a turnover less than or equal to Dh200m or Dh250m, again depending on whether the business is in the trading, manufacturing or services sectors. 

Updated: October 17, 2024, 10:33 AM