ACRES 2024 concludes, deals worth $381 million inked

Threat of AI-powered phishing is on the rise

• Generative AI is driving a surge in sophisticated spear phishing, automating attacks via social media scraping and credential stuffing, transforming the cybersecurity landscape.
• The emergence of tools like WormGPT and FraudGPT on the dark web, coupled with cybercrime's ranking as the world's third-largest economy, is fueling innovative phishing techniques.

Alhokair Group wins $202m contract

• The contract was awarded a project by Alpha Facilities Contracting Co., an affiliate of Al Fanar Group, to provide catering services at a residential complex in NEOM.
• It is expected that the financial impact of this partnership will begin as of Q1 2024, which will contribute to strengthening the group’s business.

Fit at 40: the revolutionary Apple Mac in numbers

• The first Mac came with 128 kilobytes of memory space, one million times less than top-of-the-line MacBooks today
• Apple paid a whopping $800,000 ($2.5 million in today's money) to air the one-minute ad, seen by 77.6 million TV viewers

Do Kwon’s Terraform Labs files for US bankruptcy

• Kwon faces fraud charges in both countries related to the crash
• According to the filing, Kwon holds 92 percent of Terraform's shares

SABIC to build petrochemical plant in China

• SABIC will own 51% of the project and Fujian Fuhua Gulei Petrochemical Co. Ltd. will have 49% ownership of the joint venture
• The company said that the complex will consist of a mixed feed steam cracker with an annual ethylene capacity of up to 1.8m tons

Sony ends merger deal with Zee

• According to media reports, Sony had sent a termination notice to Zee and that a formal announcement was expected soon
• The reports said that Sony cited conditions of the merger agreement not being met as the reason for the decision

Qatar Chamber discusses ways to boost ties with Korean companies

• The discussion between the chambers and Hyundai Research Institute (HRI) centered upon ramping up ties in the agriculture sector
• A chamber official emphasized the status of Qatar as a leading investment destination and how it can become a hub for food security

GCC at the forefront of 2024 sukuk market expansion

• This year, emerging markets, led by the UAE, issued record bonds against declining yields and expected rate cuts by major central banks.
• According to Kamco Invest, this surge is driven by a combination of factors including geopolitical tensions and evolving economic challenges.

Quiet and not-so-quiet luxury at Paris Fashion Week

• Celebrity presence has always been a big part of the fashion game, with sporting tie-ups playing an increasingly big role.
• New York label KidSuper scored big by convincing Brazilian footballer Ronaldinho to walk the catwalk.