Mexico, Egypt and New Zealand are the least prepared countries when it comes to data security and cybersecurity threats, according to a new study by a company that makes encryption and password management software.
“Mexico takes the lead as the least prepared country for data security threats,” reads the study by Psono, in part.
The study, according to the company, evaluated 54 countries for data security preparedness by factoring in the UN's Global Cybersecurity Index, the available number of accounts exposed in each country during data breaches, and searches for the phrase, “how to create a strong password”.
Psono's report also took into consideration the number of cybersecurity professionals working in each of the 54 countries, as well as each country's digital competitiveness ranking.
“Egypt still struggles with a relatively low number of cybersecurity professionals,” the study read.
“The country also sees limited public engagement in cybersecurity, with an overall 194,000 password related searches.”
As for New Zealand, although the study indicates that it had a much higher digital competitiveness ranking compared to many of the other countries observed, its limited cybersecurity professionals and high number of password related searches “raises questions about its overall preparedness despite its strong digital infrastructure,” the Psono study continued.
Sweden, followed by Singapore and Germany, according to the research, were the most prepared in terms of cybersecurity.
“Despite its smaller population, Singapore has a remarkable number of cybersecurity professionals, indicating a high density of skilled cybersecurity experts,” read the study.
Other countries rounding out the top ten in terms of strong cyber preparedness are Denmark, Czech Republic, Kenya, Malaysia, Greece, Finland and Portugal.
“Countries with a higher density of cybersecurity professionals per capita and strong public engagement with practices like creating secure passwords tend to be better prepared to handle cyber threats,” said Psono spokesperson, also noting that several common sense strategies can still keep users one step ahead of those hope to exploit vulnerabilities.
“It’s important to regularly update your security practices, such as using strong, unique passwords and ensuring that both individuals and businesses alike have access to the right expertise in cybersecurity.”
Morey Haber, a chief security adviser at cybersecurity firm BeyondTrust said the Psono study highlights a critical gap some countries face that could leave them very vulnerable.
“As cyber threats grow increasingly complex, not every country is equipped to tackle them effectively, especially those with insufficient cybersecurity education and minimal financial and workforce support,” he said.
“Respectfully, the contrasting profiles between nations underscores a critical need for global collaboration.”
Mr Haber also said the study also showed the proof of concept that investment in digital infrastructure and jobs and can yield long-term benefits.
“With strong statistics for the number of cybersecurity professionals and interest in personal security, countries like Sweden and Singapore demonstrate how strategic investments in digital literacy and workforce development can help secure a nation from nefarious threat actors.”
According to a 2024 report from the World Economic Forum, issues such as cybersecurity and data vulnerability show no sign of waning, with points for potential cyberattacks are growing at an “unprecedented” rate.
Those potential attacks, according to the WEF report, will likely continue with the number of Internet of Things devices expected to surpass 32 billion by 2030.
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Stars: Brad Pitt, Tommy Lee Jones
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Founder: Abdulla Almoayed
Based: UAE
Founded: 2017
Number of employees: 35
Sector: FinTech
Raised: $13 million
Backers: Berlin-based venture capital company Target Global, Kingsway, CE Ventures, Entrée Capital, Zamil Investment Group, Global Ventures, Almoayed Technologies and Mad’a Investment.
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Islamophobia definition
A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.
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.”
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The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
Company: Instabug
Founded: 2013
Based: Egypt, Cairo
Sector: IT
Employees: 100
Stage: Series A
Investors: Flat6Labs, Accel, Y Combinator and angel investors
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Marital status: Separated with two young daughters
Education: Master's degree from American Univeristy of Cairo
Favourite book: That Is How They Defeat Despair by Salwa Aladian
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Terror attacks in Paris, November 13, 2015
- At 9.16pm, three suicide attackers killed one person outside the Atade de France during a foootball match between France and Germany
- At 9.25pm, three attackers opened fire on restaurants and cafes over 20 minutes, killing 39 people
- Shortly after 9.40pm, three other attackers launched a three-hour raid on the Bataclan, in which 1,500 people had gathered to watch a rock concert. In total, 90 people were killed
- Salah Abdeslam, the only survivor of the terrorists, did not directly participate in the attacks, thought to be due to a technical glitch in his suicide vest
- He fled to Belgium and was involved in attacks on Brussels in March 2016. He is serving a life sentence in France
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Starring: Alyssa Milano, Sam Page, Colleen Wheeler
Rating: 3/5
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SCHEDULE
December 8: UAE v USA (Sharjah Cricket Stadium)
December 9: USA v Scotland (Sharjah Cricket Stadium)
December 11: UAE v Scotland (Sharjah Cricket Stadium)
December 12: UAE v USA (ICC Academy Oval 1)
December 14: USA v Scotland (ICC Academy Oval 1)
December 15: UAE v Scotland (ICC Academy Oval 1)
All matches start at 10am
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Key figures in the life of the fort
Sheikh Dhiyab bin Isa (ruled 1761-1793) Built Qasr Al Hosn as a watchtower to guard over the only freshwater well on Abu Dhabi island.
Sheikh Shakhbut bin Dhiyab (ruled 1793-1816) Expanded the tower into a small fort and transferred his ruling place of residence from Liwa Oasis to the fort on the island.
Sheikh Tahnoon bin Shakhbut (ruled 1818-1833) Expanded Qasr Al Hosn further as Abu Dhabi grew from a small village of palm huts to a town of more than 5,000 inhabitants.
Sheikh Khalifa bin Shakhbut (ruled 1833-1845) Repaired and fortified the fort.
Sheikh Saeed bin Tahnoon (ruled 1845-1855) Turned Qasr Al Hosn into a strong two-storied structure.
Sheikh Zayed bin Khalifa (ruled 1855-1909) Expanded Qasr Al Hosn further to reflect the emirate's increasing prominence.
Sheikh Shakhbut bin Sultan (ruled 1928-1966) Renovated and enlarged Qasr Al Hosn, adding a decorative arch and two new villas.
Sheikh Zayed bin Sultan (ruled 1966-2004) Moved the royal residence to Al Manhal palace and kept his diwan at Qasr Al Hosn.
Sources: Jayanti Maitra, www.adach.ae
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Power: 595bhp
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3rd Test August 12-16 in Pallekele
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