Search Site

AD Ports Group 2024 net profit $484m

The Group's revenue increased 48 percent year-on-year.

TAQA net income $1.93bn in 2024

The company's revenues increased 6.7 percent year-on-year.

ADNOC L&S 2024 net profit $756m

The company's revenue increased by 29 percent to $3.54 billion.

ADNOC Distribution 2024 net profit down 7%

Minus UAE corporate tax, it would have grown by 2.4% to $725m

Maaden raises $1.25bn in sukuk offering

The Sukuk were offered in a five-year and a 10-year tranche.

Cyber-pandemic quickened UAE digital push

Mohamed Hamad Al Kuwaiti has said the UAE is fully equipped to meet the challenges of transitioning into AI for governance and economy.
  • The UAE has attained high ranks in many global cybersecurity indexes
  • Moving into an AI government and economy involves sector-wise perspectives

UAE cybersecurity chief Mohamed Hamad Al Kuwaiti has been quoted by local reports as saying that the country is fully equipped to meet the challenges as it transitions its government and economy using artificial intelligence or AI.

Al Kuwaiti was quoted by the UAE’s official news agency WAM as saying: “When we talk about the digital transformation, the UAE has really moved from a regular government to a smart government and now going towards an Artificial Intelligence Government [and AI economy] as envisioned by the leadership. We are fully equipped to meet the associated challenges. We are capable to detect and protect [from any cyberattacks].”

The UAE has attained high ranks in many global cybersecurity indexes, he noted.

Ahead of the UAE’s transformation into an AI government and AI economy, a “cyber-pandemic” has caused a quicker digital transformation in society as digital gadgets are used full time by children for e-learning and adults for work from home since the outbreak of COVID-19, Al Kuwaiti pointed out.

“People have directly moved to digital domains due to the pandemic. We call it ‘cyber-pandemic’. However, a culture of cybersecurity [adequate awareness] is still being developed,” he was quoted as saying.

“There is a gap in terms of cybersecurity and we would like to fix it by raising awareness through this forum, similar platforms and cybersecurity drills etc.,” he said.

Each digital device has to be used carefully to ensure cybersecurity and it is everyone’s responsibility, he stressed. “It’s a collaborative effort of all relevant government entities, plus the social entities that are working with us in different communities.”

Moving into an AI government and economy involves sector-wise perspectives, he explained.

“[T]he financial sector will definitely move into AI. In that seamless process, AI will be used to ensure cybersecurity. That huge traffic of data in the transformation is overwhelming but it will be sifted through using AI,” the cybersecurity chief explained.

While the government is using AI for defensive measures of cybersecurity, some other elements may use it for offensive measures, Al Kuwaiti pointed out while talking about the challenges associated with the AI government and economy.