DUBAI // Officials have called for more cyber security cooperation in the GCC, warning of the havoc that could be caused in the region by threats such as the Wannacry ransomware cyber attack.
Speaking at the first day of the Gulf Information Security Expo and Conference in Dubai, experts said cyber attacks could target critical infrastructure such as airports, oil installations, banks and tourism networks.
“The government has a major role to play in the field of regulation. Our focus is on national security and enabling businesses,” said Ibrahim Alshamrani, executive director of operations of Saudi Arabia’s National Cyber Security Centre.
While GCC nations share vital information through their general secretariats, more coordination is required.
“Once we start investigations, we realise it’s cross border and that we cannot work alone. The challenge is on us,” he said.
“We have a close relationship between the GCC countries and cyber security, and cyber crime falls under national security. But it isn’t enough. We should be doing more.”
Links among networks also make countries in the region vulnerable. Brigadier Khalid Al Razooqi, Dubai Police director general of smart services, said a special team works closely to check daily attempts to breach the police network.
“We receive a lot of attacks on a daily basis through different channels with people trying to break into our system, but we have an excellent team that protects us,” he said.
Recognition of the need for security systems across sectors was required, he said, particularly in a smart city that would be interconnected.
“There must be more awareness for security. For the future we need to think aggressively and introduce systems only after we have a secure environment,” Brig Al Razooqi said.
“A majority of companies do not want to spend on information security budget. When we talk to them to increase the level of security systems, they say it’s not a major concern, it’s the last thing to think about.”
Experts said it was imperative to guard against exposure to cyber attacks such as the Wannacry ransomware that has affected more than 200,000 computers in more than 150 countries since it began infecting users’ files on May 12.
Over the past few years, Dubai has introduced cyber security decrees and laws. But while there were some initiatives to raise the resilience of networks linking the GCC, a consistent cyber security approach is vital.
Among critical interconnection points are internet exchanges that GCC countries share.
“This is where the attacks, viruses, the malware are distributed from. Then you have the banking systems, where transactions go past the central banks of each country,” said Rabih Dabboussi, senior vice president of UAE cyber security company, DarkMatter.
“We need to make sure we raise the resilience of the banking transactional systems, and you also have connected transport, oil and gas and tourism that are key pillars of the economy. There is not enough being done to provide a unified front to protect us.
“We need to start by making sure that the level of regulatory framework and policies are consistent and then look at inter-connection points. There have to be policies, rules and guidelines that govern the use of technology, especially when technology is in critical national infrastructure.”
Natalya Kaspersky, president of InfoWatch, a global cybersecurity solutions firm, said regulation must be an essential prerequisite before new technology is introduced.
“Imagine if an attack like Wannacry happens in the airport where everything is electronic, even passport control,” she said.
“Regulation should be consistent and organised across governments. Before, every country assessed their own technology, but now the world is global and we need governments to exchange information.
“There should be an international committee that prescribes regulation at an international and local level.”
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Engine: 3.0-litre six-cylinder turbo
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Transmission: Eight-speed auto
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The protective shell is covered in solar panels to make use of light and produce energy. This will drastically reduce energy loss.
More than 80 per cent of the energy consumed by the French pavilion will be produced by the sun.
The architecture will control light sources to provide a highly insulated and airtight building.
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Will the pound fall to parity with the dollar?
The idea of pound parity now seems less far-fetched as the risk grows that Britain may split away from the European Union without a deal.
Rupert Harrison, a fund manager at BlackRock, sees the risk of it falling to trade level with the dollar on a no-deal Brexit. The view echoes Morgan Stanley’s recent forecast that the currency can plunge toward $1 (Dh3.67) on such an outcome. That isn’t the majority view yet – a Bloomberg survey this month estimated the pound will slide to $1.10 should the UK exit the bloc without an agreement.
New Prime Minister Boris Johnson has repeatedly said that Britain will leave the EU on the October 31 deadline with or without an agreement, fuelling concern the nation is headed for a disorderly departure and fanning pessimism toward the pound. Sterling has fallen more than 7 per cent in the past three months, the worst performance among major developed-market currencies.
“The pound is at a much lower level now but I still think a no-deal exit would lead to significant volatility and we could be testing parity on a really bad outcome,” said Mr Harrison, who manages more than $10 billion in assets at BlackRock. “We will see this game of chicken continue through August and that’s likely negative for sterling,” he said about the deadlocked Brexit talks.
The pound fell 0.8 per cent to $1.2033 on Friday, its weakest closing level since the 1980s, after a report on the second quarter showed the UK economy shrank for the first time in six years. The data means it is likely the Bank of England will cut interest rates, according to Mizuho Bank.
The BOE said in November that the currency could fall even below $1 in an analysis on possible worst-case Brexit scenarios. Options-based calculations showed around a 6.4 per cent chance of pound-dollar parity in the next one year, markedly higher than 0.2 per cent in early March when prospects of a no-deal outcome were seemingly off the table.
Bloomberg
Hydrogen: Market potential
Hydrogen has an estimated $11 trillion market potential, according to Bank of America Securities and is expected to generate $2.5tn in direct revenues and $11tn of indirect infrastructure by 2050 as its production increases six-fold.
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The cost of electrolysers used in green hydrogen production has halved over the last five years and will fall to 60 to 90 per cent by the end of the decade, acceding to Haim Israel, equity strategist at Merrill Lynch. A global focus on decarbonisation and sustainability is also a big driver in its development.
if you go
The flights Fly Dubai, Air Arabia, Emirates, Etihad, and Royal Jordanian all offer direct, three-and-a-half-hour flights from the UAE to the Jordanian capital Amman. Alternatively, from June Fly Dubai will offer a new direct service from Dubai to Aqaba in the south of the country. See the airlines’ respective sites for varying prices or search on reliable price-comparison site Skyscanner.
The trip
Jamie Lafferty was a guest of the Jordan Tourist Board. For more information on adventure tourism in Jordan see Visit Jordan. A number of new and established tour companies offer the chance to go caving, rock-climbing, canyoning, and mountaineering in Jordan. Prices vary depending on how many activities you want to do and how many days you plan to stay in the country. Among the leaders are Terhaal, who offer a two-day canyoning trip from Dh845 per person. If you really want to push your limits, contact the Stronger Team. For a more trek-focused trip, KE Adventure offers an eight-day trip from Dh5,300 per person.
North Pole stats
Distance covered: 160km
Temperature: -40°C
Weight of equipment: 45kg
Altitude (metres above sea level): 0
Terrain: Ice rock
South Pole stats
Distance covered: 130km
Temperature: -50°C
Weight of equipment: 50kg
Altitude (metres above sea level): 3,300
Terrain: Flat ice
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