JEDDAH: Cybercrime is not a new phenomenon, but it is hitting the headlines as never before. The growing frequency and sophistication of online threats have exposed businesses to new risks.
The fourth edition of the Kingdom Cybersecurity Meeting aims to address these issues that continue to challenge business leaders to rethink their defense strategies to counter persistent threats in cyberspace.
The event will take place on April 18 and 19 in Riyadh, and will feature more than 20 speakers.
Dr. Taghreed Justinia, assistant professor and program director for health informatics at King Saud bin Abdulaziz University for Health Sciences, said: “We are a country with a uniquely vast geography, (as our) cities (are) still distinctly separated and still under development… We also have an advanced and reliable telecommunications infrastructure that could support a vision favoring smart cities. It is necessary to focus on securing the infrastructure and data. Getting citizens and various agencies involved in unifying the vision is an important step. Investing in cybersecurity is a necessity and should be considered in the planning and budgeting stages of any project. It should not be left for later stages or only when there is a security threat.”
Abubakar Arshad, cybersecurity adviser at the Telecommunications Regulatory Authority Bahrain, said: “Artificial intelligence (AI) is one of the most crucial technological developments of our times. It is changing every aspect of technologies around us… Criminals are using AI to hack into the most sophisticated systems. This trend is set to continue exponentially. Therefore, as cybersecurity professionals, we need to be aware of the threat and also adopt AI technologies to protect against threats from organized cybercriminals...”
Set against the backdrop of the growing cyber menace and with the emerging need of aligning security closely to business imperatives, the Kingdom Cybersecurity Meeting will contribute to efforts in building an effective cybersecurity strategy in the region.
“This market is booming with rapid infrastructure development and we must keep up the pace of security alongside the speed of these development projects... Cybersecurity is of key interest to anyone involved with information technology,” Justinia said.
Saudi Arabia braces to fight cybercrimes
Saudi Arabia braces to fight cybercrimes
Closing Bell: Saudi main index closes in red at 10,325
RIYADH: Saudi Arabia’s Tadawul All Share Index edged down on Monday, shedding 38.83 points, or 0.37 percent, to close at 10,325.20.
The total trading turnover of the benchmark index stood at SR4.02 billion ($1.07 billion), with 61 listed stocks advancing and 191 declining.
The Kingdom’s parallel market Nomu also declined by 144.88 points, or 0.62 percent, to close at 23,226.94.
The MSCI Tadawul Index advanced by 0.11 percent to 1,371.06.
The best-performing stock on the main market was Saudi Industrial Development Co., with its share price rising 6.32 percent to SR12.44.
Al Yamamah Steel Industries Co.’s share price increased by 6.06 percent to SR35.
Cherry Trading Co. also saw its stock climb 5.27 percent to SR26.16.
Conversely, the share price of the National Shipping Co. of Saudi Arabia, also known as Bahri, edged down 5.87 percent to SR26.64.
On the announcements front, SAL Saudi Logistics Services Co. said it intends to issue a riyal-denominated sukuk through a private placement, both inside and outside the Kingdom.
In a Tadawul statement, the company said the amount and terms of the sukuk offering will be determined at a later stage, based on prevailing market conditions.
SAL added that the proceeds will be used for general corporate purposes, capital expenditure plans to support future expansions and projects, and to achieve long-term financial and strategic objectives.
The company has appointed J.P. Morgan Saudi Arabia and SNB Capital as joint lead managers and bookrunners for the sukuk offering.
SAL’s share price declined by 0.63 percent to SR158.90.
In another announcement, Almarai Co. said the diesel price increase from January is expected to result in additional direct costs of approximately SR70 million for the company this year.
The firm added it will continue to focus on business efficiency, cost optimization, and other initiatives to mitigate the impact of the diesel price increase.
Almarai’s share price fell 3.50 percent to SR41.90.
