Saudi Arabia calls for harmonized international efforts to ensure cybersecurity

Saudi Arabia's Crown Prince Mohammed bin Salman.
Saudi Arabia's Crown Prince Mohammed bin Salman.
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Saudi Arabia calls for harmonized international efforts to ensure cybersecurity

Saudi Arabia calls for harmonized international efforts to ensure cybersecurity

RIYADH: Saudi Arabia’s Crown Prince Mohammed bin Salman on Wednesday emphasized the need to “harmonize international efforts” to ensure cybersecurity and “protect children in cyberspace,” the Saudi Press Agency reported.

In a message read at the opening ceremony of the two-day Global Cybersecurity Forum in Riyadh, the crown prince stated: “Cyberspace is closely linked to the growth of economies, the prosperity of societies, the security of individuals, and the stability of nations.”

According to SPA, he noted that due to the cross-border nature of cyberspace, it is essential to harmonize international efforts to seize the opportunities it presents and “face the challenges it presents, by investing in people.”

The event convenes high-level international figures, including former prime ministers, top government officials, decision-makers, policymakers, thought leaders, and CEOs from more than 125 countries. Welcoming the participants, the crown prince said: “The Kingdom of Saudi Arabia has always been a force for good for the benefit of humanity and human prosperity around the world. It has continuously worked to uphold the principle of cooperation and strengthen international collaboration toward efforts that support development and prosperity for all nations. It has initiated several initiatives aimed at achieving these genuine goals in all sectors.”

He added: “Believing in the importance of investing in people in this vital and promising domain, in 2020 we launched two global initiatives. The first relates to protecting children in cyberspace, and the second focuses on empowering women in the field of cybersecurity. The institute for the Global Cybersecurity Forum is entrusted with overseeing both initiatives, as well as implementing the associated projects.”

He highlighted the progress made by these initiatives, particularly the increased understanding of needs at the global level that has led to new and inspiring visions, enabling the GCF to develop impactful initiatives and programs, publish research and studies, and formulate new frameworks and strategies. These efforts empower decision-makers worldwide to develop policies and programs that enhance child protection in cyberspace and promote women’s participation in the field of cybersecurity.


Women’s risk management, attention to detail give edge in cybersecurity, say experts

Women’s risk management, attention to detail give edge in cybersecurity, say experts
Updated 22 sec ago
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Women’s risk management, attention to detail give edge in cybersecurity, say experts

Women’s risk management, attention to detail give edge in cybersecurity, say experts

RIYADH: Women are playing an increasingly vital role in the cybersecurity industry, leveraging their strengths in risk management and attention to detail, according to the chair of the Cyberpsychology Department at Capital Technology University. 

Speaking at the Global Cybersecurity Forum in Riyadh, Mary Aiken noted that women’s focus on evaluating risks and their intuitive understanding of threats result in stronger decision-making and strategic outcomes for organizations. 

This comes as women are projected to make up 30 percent of the global cybersecurity workforce by 2025, with that figure rising to 35 percent by 2031, according to Cybersecurity Ventures. 

Aiken highlighted that attention to detail is a crucial skill in cybersecurity roles like data analysis, emphasizing that women excel in this area.

“The research says you get better strategic decision-making, you get better risk management because women are very focused on evaluating risk and have good intuitive perceptions around risk,” she said. 

Aiken also pointed out that women often demonstrate high levels of verbal fluency, which contributes to their effectiveness as leaders in the cybersecurity field. “They actually make good leaders and cyber leaders,” she noted. 

Additionally, she emphasized that diplomatic skills and empathy, often seen as gender-based traits, play a key role in attracting and retaining talent in the industry. 

Also present on the panel, Chief Information Officer at Paladin Capital Group Christopher Steed emphasized that despite the benefits of gender diversity, only 2 percent of venture-backed startups in 2023 were women-led. In the cybersecurity field, that number is slightly higher, ranging between 10 percent and 13 percent. 

“Our numbers when it comes to women-led startups are actually higher than that; however, I think it’s also important to broaden the definition. It can’t just be women-founded; it can’t just be women in C-level positions. It’s also the employee base,” he added. 

David Hoffman, professor of cybersecurity policy at Duke University, echoed these sentiments, sharing his experience with female students leading in cybersecurity competitions. 

“Our national championship cyber team has predominantly been led by women, but that doesn’t mean they aren’t already facing an uphill struggle and barriers that some of their male colleagues and peers do not,” he concluded. 

The Global Cybersecurity Forum, which runs from Oct. 2 to 3, focused on enhancing collaboration in cyberspace under the theme “Advancing Collective Action.” 

The event gathers global leaders from technology, public policy, and defense sectors to address strategic priorities in the cybersecurity landscape. 


US National Cyber Director calls for global cybersecurity overhaul at Riyadh forum

US National Cyber Director calls for global cybersecurity overhaul at Riyadh forum
Updated 20 min 38 sec ago
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US National Cyber Director calls for global cybersecurity overhaul at Riyadh forum

US National Cyber Director calls for global cybersecurity overhaul at Riyadh forum

RIYADH: Cyberspace has become increasingly fragile due to decades of prioritizing innovation and market efficiency over security, according to experts at the Global Cybersecurity Forum in Riyadh. 

The discussion highlighted that attackers, often organized in syndicates, have outpaced defenders, who are typically constrained by operating in silos, making cybersecurity a global challenge that requires collective action.

US National Cyber Director Chris Inglis stressed the inherent vulnerabilities in digital infrastructure, attributing it to the rapid pace of technological development. 

“For 50 years, as we’ve developed the internet and all of the associated technologies, innovation and market efficiency have been the predominant drivers, and safety has always been the poor third child in the corner,” he said. 

This oversight, he highlighted, has left many systems challenging to defend, with resilience often being an afterthought.

Inglis emphasized the importance of moving beyond isolated defense strategies, advocating for closer collaboration between governments, private sectors, and international bodies. 

He proposed a new “social contract” for cyberspace, fostering shared responsibility to address existing vulnerabilities and emerging threats. 

According to Inglis, frameworks for information sharing and collective action are key to closing the gap between attackers and defenders.

The conversation also turned to the increasing role of artificial intelligence in cybersecurity. 

While acknowledging that AI is currently being used more effectively by attackers, Inglis expressed optimism about its potential to serve as a powerful defensive tool. 

“At the moment, generative AI tends to be more frequently used by the attacker, so that at the moment is something where the attackers are ahead of the defenders. That’s not necessarily the way it needs to be,” Inglis stated. 

He called for a more strategic approach to AI development, with a focus on ensuring that it remains under human control and aligned with ethical standards. “We should not, must not, develop AI for its own sake. We have to develop it because we have some plan in mind of what we want it to do,” he emphasized.

Inglis outlined key actions needed to bolster global cyber resilience. These include establishing information-sharing protocols, encouraging collaboration across sectors, and leveraging government resources to complement private sector capacities, particularly in critical areas like finance. 

Governments, he suggested, have unique access to intelligence that can inform broader defense strategies, while the private sector excels at innovation and rapid deployment of solutions.

The panel also stressed the need for proactive measures to stay ahead of evolving threats. The global community can create a safer, more resilient digital environment by prioritizing security in future innovations and ensuring that AI technologies are developed responsibly. 

These remarks echo the notions raised during the discussions at the UN General Assembly in September, where global leaders called for robust AI governance to prevent its misuse in spreading misinformation and destabilizing democratic processes. 

Concerns over cybersecurity developments were raised at another panel at the forum in Riyadh by Paul Selby, chief information security officer at the US Department of Energy.

He painted a bleak picture of the current state of global defensive capabilities in the industry, but added: “Now, what gives me hope? This gives me hope that we're all here. We're all talking about it. The first step in correcting any problem is recognizing the problem,.” 

He added that the cost of attacks through supply chain risk management, or as a result of not having supply chain risk management, was $46 billion in 2023 and that is expected to rise to $60 billion in 2025.

“There was last year, 245,000 malware instances in Open Source Software. That's more than double the previous four years,” he added.

“Our adversaries are moving faster than we are reacting," Selby stressed, underscoring the need for a united global response.


Saudi Arabia can pave the way in combating online child abuse, says expert

Saudi Arabia can pave the way in combating online child abuse, says expert
Updated 22 min 43 sec ago
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Saudi Arabia can pave the way in combating online child abuse, says expert

Saudi Arabia can pave the way in combating online child abuse, says expert

RIYADH: Saudi Arabia could become a global leader in combating online criminals who target children in cyberspace, according to an expert.

Speaking to Arab News at the Global Cybersecurity Forum in Riyadh on Oct. 2, Iain Drennan, executive director of WeProtect Global Alliance, emphasized that identifying vulnerable users is crucial to preventing online crimes against children.

Saudi Arabia is hosting the GCF to advance collective actions and ensure a safe online space for everyone globally.

“It is incredibly important to integrate child online protection elements into our conception of cybersecurity. Saudi Arabia, with its pivotal role between east and west, between north and south, can bring together lots of the different voices that we need to have in the room to be able to move forward in this space,” said Drennan.

He added: “Looking from a child online protection perspective, it’s about identifying some of these most vulnerable users and ensuring that it’s not the responsibility on them to manage their own protection. It’s not even the responsibility of parents and caregivers. It should be the responsibility of governments and of the private sector to ensure that the tools are in place, that it’s safety by default.”

During the talk, Drennan stressed that collaboration among countries is necessary to ensure children can safely enjoy the benefits of the Internet and the digital world. “This is a problem that cuts across borders. So, you could have a child in Saudi Arabia using a social network that’s headquartered in the US, targeted by an abuser in another country entirely. So there needs to be collaboration between all of those different countries to be able to ensure that child is protected,” he added.

According to the cybersecurity expert, events like the Global Cybersecurity Forum will play a pivotal role in combating child exploitation online, as they gather global leaders and industry experts to address potential threats.

“Gatherings like the Global Cyber Security Forum play a really important role in bringing the global majority and the countries where the big tech platforms are headquartered together, so that we can develop solutions. A big part of that is information sharing,” he said.

Drennan noted that organized crime groups view online illicit activities as a business for financial gain.

In January, the World Economic Forum cited data from the International Monetary Fund and the Federal Bureau of Investigation, predicting that the global cost of cybercrime will surge to $23.84 trillion by 2027, up from $8.44 trillion in 2022. He pointed out that online criminals are increasingly using advanced AI technologies, like deepfake, to create intimate images for blackmailing children.

“What the criminals really trade on is the blame and the shame that the victims feel. And the other issue we have now is AI. AI is making that whole process a lot faster because they don’t need to trick victims into providing real images. They can create a deepfake and still blackmail, threatening to send it to family or friends unless they pay,” said Drennan.

He added that addressing online child protection is crucial for Saudi Arabia, given the young population's interest in online gaming. “It is definitely a key issue for Saudi Arabia to address cybercrimes. Sony Interactive Entertainment is one of our members, and they say Saudi Arabia is one of their key growth markets in terms of gaming. So, we know that children are online,” he said.


Closing Bell: Saudi main index closes in red at 12,044 

Closing Bell: Saudi main index closes in red at 12,044 
Updated 41 min 12 sec ago
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Closing Bell: Saudi main index closes in red at 12,044 

Closing Bell: Saudi main index closes in red at 12,044 

RIYADH: Saudi Arabia’s Tadawul All Share Index shed 209.47 points, or 1.71 percent, on Wednesday to close at 12,044.07. 

The total trading turnover of the benchmark index was SR8.12 billion ($2.16 billion) with 10 stocks climbing and 226 retracting.  

Saudi Arabia’s parallel market Nomu also slipped by 354.29 points to end the trading at 24,954.76. 

The MSCI Tadawul Index fell by 1.68 percent to close at 1,508.09. 

The best-performing stock on the main market was Al-Baha Investment and Development Co. The firm’s share price surged by 8.33 percent to SR0.26. 

Other top gainers were East Pipes Integrated Co. for Industry and The National Co. for Glass Industries, whose share prices soared by 2.03 percent and 1.67 percent, respectively.  

The worst-performing stock of the day was Amana Cooperative Insurance Co., as its share price declined by 5.99 percent to SR11.62.  

On the parallel market, Naseej for Technology Co. and Enma AlRawabi Co. were the top gainers with their share prices soaring by 8.86 percent and 7.89 percent, respectively.  

The worst performer on Nomu was Naba Alsaha Medical Services Co. as its share price dropped by 9.80 percent to SR81.  

On the announcements front, Retal Urban Development Co. signed two agreements worth SR702.02 million with ROSHN to purchase and develop residential land for 644 housing units, as well as infrastructure works in Sedra residential neighborhood in Riyadh. 

In a Tadawul statement, Retal said that the project’s impact on the company’s financial performance will be visible from 2025 to 2027. The company also added that there are no related parties to the deal.   


Saudi state-backed funds eye stakes in Canadian mining firms, says industry minister 

Saudi state-backed funds eye stakes in Canadian mining firms, says industry minister 
Updated 54 min 52 sec ago
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Saudi state-backed funds eye stakes in Canadian mining firms, says industry minister 

Saudi state-backed funds eye stakes in Canadian mining firms, says industry minister 

JEDDAH: State-backed Saudi funds are seeking to acquire stakes in Canadian mining firms as part of efforts to enhance the Kingdom’s global influence in the sector and diversify its economy beyond oil, said a top minister. 

During his visit to the North American country, Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef asserted that there are no barriers to the Kingdom’s investments in the Canadian mining sector, despite local regulations that restrict investments by foreign state-owned entities, as reported by Al-Arabiya TV channel. 

In 2023, Saudi Arabia’s non-oil exports to Canada totaled SR140 million ($37.33 million), mainly comprising base metals and plant products. Conversely, non-oil imports from Canada reached SR2.89 billion, including locomotives, pharmaceutical products, and electrical devices. 

In a post on his X account, Alkhorayef said: “In Toronto, Canada, I met with the Chairman of the Saudi-Canadian Business Council and highlighted the council’s crucial role in enhancing trade relations between the two nations.” 

He noted that the council serves as a vital platform for connecting private sector leaders and fostering partnerships that leverage shared investment opportunities. 

The visit, following a similar tour in the US, aims to attract Canadian companies to explore essential minerals such as copper in the Arabian Peninsula. 

During its stops in Ottawa and Toronto, the Saudi delegation held strategic meetings with government officials and private sector leaders, resulting in memoranda of understanding aimed at advancing the industrial and resource sectors. 

Alkhorayef commenced his visit with a tour of the Toronto Stock Exchange, where he met with the CEO and representatives from various listed resource companies. Discussions focused on investment opportunities in the sector, underscoring the Kingdom’s potential and the incentives available for investors. 

Leading the delegation, Alkhorayef explored the latest digital financial technologies in the stock market and met with key global players in the resource and geological survey sectors. He also visited the University of Toronto and institutions dedicated to industrial innovation and capacity development. 

The Saudi minister participated in a roundtable meeting organized by the Saudi-Canadian Business Council, attended by Ontario’s Lt. Governor Edith Dumont and Associate Minister of Mines Stephen Crawford. 

The meeting focused on opportunities in the Kingdom’s industrial and resource sectors, as well as the advantages of investing in Saudi Arabia. 

Additionally, Alkhorayef met with Sebastian Goodfellow, director of the university’s Lassonde Institute of Mining, and interacted with Saudi students studying in Canada. 

In Ottawa, he held discussions with various government officials, including the Minister of International Development Ahmed Hussen and Minister of Innovation, Science, and Industry François-Philippe Champagne, emphasizing the Kingdom’s commitment to strengthening bilateral relations.