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 equities continue 4-day upward trend
RIYADH: Saudi equities closed higher on Wednesday, with the Tadawul All Share Index rising 51.52 points, or 0.47 percent, to finish at 10,945.15.
Trading activity was robust, with 373.9 million shares exchanged and total turnover reaching SR6.81 billion.
The MT30 Index also ended the session in positive territory, advancing 11.93 points, or 0.82 percent, to 1,472.82, while the Nomu Parallel Market Index declined 116.82 points, or 0.49 percent, to 23,551.47, reflecting continued volatility in the parallel market.
The main market saw 90 gainers against 171 decliners, indicating selective buying.
On the upside, Al Kathiri Holding Co. led gainers, closing at SR2.18, up SR0.12, or 5.83 percent. Wafrah for Industry and Development Co. advanced to SR23, gaining SR0.99, or 4.5 percent, while Al Ramz Real Estate Co. rose 4.35 percent to close at SR60.
SABIC Agri-Nutrients Co. added 4.21 percent to SR118.70, and Al Jouf Agricultural Development Co. climbed 4.12 percent to SR45.
Meanwhile, losses were led by Saudi Industrial Export Co., which fell 9.73 percent to SR2.69. United Cooperative Assurance Co. declined 5.08 percent to SR3.74, while Thimar Development Holding Co. dropped 4.54 percent to SR35.30.
Abdullah Saad Mohammed Abo Moati for Bookstores Co. retreated 4.15 percent to SR48.50, and Gulf Union Alahlia Cooperative Insurance Co. slipped 3.96 percent to SR10.44.
On the announcement front, Saudi National Bank announced its intention to issue US dollar-denominated Additional Tier 1 capital notes under its existing international capital programe, with the final size and terms to be determined subject to market conditions and regulatory approvals.
The planned issuance aims to strengthen Tier 1 capital and support the bank’s broader financial and strategic objectives.
The stock closed at SR42.70, gaining SR0.70, or 1.67 percent, reflecting positive investor reaction to the capital management move.
Separately, Almasane Alkobra Mining Co. said its board approved the establishment of a wholly owned simplified joint stock company to provide drilling, exploration and related support services, with a share capital of SR100 million and headquarters in Najran, subject to regulatory approvals.
The new subsidiary aligns with the company’s strategy to enhance operational efficiency and expand its role in the Kingdom’s mining sector.
Shares of Almasane Alkobra Mining closed at SR98.70, up SR0.30, or 0.3 percent, by the end of the session.
