Iran's leadership has embraced cyber operations and provided training to its ally Hezbollah, a think tank said.
A report by the International Institute for Strategic Studies said Iran sees itself as being in an “intelligence and cyber war” with its rivals.
It said Tehran has expanded its cyber capabilities since the Stuxnet attack on its nuclear programme more than a decade ago, thought to be the work of the US and Israel.
Iran’s desire to quell domestic opposition has intensified its use of cyber surveillance tools.
But Tehran probably lacks the ability to carry out high-intensity, “warfare-grade” cyber attacks, the report said.
The warning comes after German intelligence said that Iran had carried out cyber attacks which hit targets in Europe and the US.
In one case uncovered in Berlin, Iran was blamed for a cyber-attack on German companies in which employees were duped into installing malware.
European intelligence officials fear that Iran is seeking the technical know-how required to develop nuclear weapons.
The Stuxnet breach occurred when Iran had few domestic experts on cyber security and limited access to foreign expertise.
Since then, Iran “has become a determined cyber actor against US, Gulf Arab and Israeli interests”, the IISS report said.
It said some of Iran’s operations in the West appeared to be speculative efforts at data theft.
Iranian operatives are also suspected of meddling in politics, for example by encouraging the push for Scottish independence in order to weaken the UK.
Regional power
Tehran’s efforts in the West were undermined by the fact that they appeared to be easily detected and attributed to Iran, the IISS said.
But Iran was described as a significant regional cyber power which has carried out “disruptive and destructive” attacks on infrastructure.
Tehran is believed to have provided “cyber tools and training” to Hezbollah, its ally in Lebanon.
Iran has deployed offensive cyber for diverse goals and against a range of targets worldwide
Iran was described as being more tolerant than many countries of “patriotic hackers” who carry out cyber operations without formal direction from the authorities.
One such group is the Iranian Cyber Army, a collection of hackers thought to have links to the Islamic Revolutionary Guard Corps.
The hackers are thought to be loyal to Iran's supreme leader Ayatollah Ali Khamenei.
Domestic dissidents are believed to be a priority target for cyber operations in Iran.
Iran's efforts to monitor domestic foes have "dovetailed with the government’s desire to counter external threats", the report said.
“Iran has deployed offensive cyber for diverse goals and against a range of targets worldwide,” researchers said.
“Its cumulative experience now represents a relatively high level of operational maturity, with the regime’s embrace of cyber operations firmly established as a useful instrument of national power.”
Cyber survey
The IISS report assessed the cyber capabilities of 15 countries, including the UK, US, Russia and North Korea.
It described the US as the world’s leading cyber power, although more politically and legally constrained than some of its rivals.
The UK was regarded as possessing a high-quality cyber intelligence capability and benefiting from its close partnership with Washington.
The US and UK are part of the Five Eyes intelligence alliance with Australia, Canada and New Zealand.
Britain has ambitions to be one of the world's leading democratic cyber powers, according to its recent defence and foreign policy review.
It says it will use offensive tools under the control of its National Cyber Force to deter threats.
The report said Russia saw cyber operations as part of a wider "information war" in its confrontation with the West.
Moscow was blamed for the SolarWinds attack on the US federal government which came to light last year.
Nato leaders said at a summit this month that a cyber attack could trigger the alliance's mutual defence guarantee, known as Article 5.
A significant cyber attack "might, in certain circumstances, be considered as amounting to an armed attack", they said.
THE BIO
Born: Mukalla, Yemen, 1979
Education: UAE University, Al Ain
Family: Married with two daughters: Asayel, 7, and Sara, 6
Favourite piece of music: Horse Dance by Naseer Shamma
Favourite book: Science and geology
Favourite place to travel to: Washington DC
Best advice you’ve ever been given: If you have a dream, you have to believe it, then you will see it.
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
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.”
UAE%20v%20West%20Indies
%3Cp%3EFirst%20ODI%20-%20Sunday%2C%20June%204%20%0D%3Cbr%3ESecond%20ODI%20-%20Tuesday%2C%20June%206%20%0D%3Cbr%3EThird%20ODI%20-%20Friday%2C%20June%209%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3EMatches%20at%20Sharjah%20Cricket%20Stadium.%20All%20games%20start%20at%204.30pm%0D%3Cbr%3E%0D%3Cbr%3E%3Cstrong%3EUAE%20squad%3C%2Fstrong%3E%0D%3Cbr%3EMuhammad%20Waseem%20(captain)%2C%20Aayan%20Khan%2C%20Adithya%20Shetty%2C%20Ali%20Naseer%2C%20Ansh%20Tandon%2C%20Aryansh%20Sharma%2C%20Asif%20Khan%2C%20Basil%20Hameed%2C%20Ethan%20D%E2%80%99Souza%2C%20Fahad%20Nawaz%2C%20Jonathan%20Figy%2C%20Junaid%20Siddique%2C%20Karthik%20Meiyappan%2C%20Lovepreet%20Singh%2C%20Matiullah%2C%20Mohammed%20Faraazuddin%2C%20Muhammad%20Jawadullah%2C%20Rameez%20Shahzad%2C%20Rohan%20Mustafa%2C%20Sanchit%20Sharma%2C%20Vriitya%20Aravind%2C%20Zahoor%20Khan%0D%3C%2Fp%3E%0A
Countries recognising Palestine
France, UK, Canada, Australia, Portugal, Belgium, Malta, Luxembourg, San Marino and Andorra
The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
The five pillars of Islam
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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.
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