Category Archives: Business & Investments

Business & Investments

Data Breach Costs for Businesses Continue Their Upward Trajectory in the Middle East Reaching an Average of SAR 32.80 Million

Energy sector reported the costliest breaches across industries at SAR 36.90 million on average. AI/Automation deployments cut breach costs by SAR 12.31 million

Dubai, UAE. 26 August 2024 – — IBM (NYSE: IBM) released its annual Cost of a Data Breach Report revealing the average cost of a data breach for businesses in the Middle East reached SAR 32.80 million in 2024. This represents an increase of nearly 10% this year, from SAR 29.90 million in 2023. According to the organizations analyzed, the top three factors that amplified breach costs for local businesses were security skills shortages, non-compliance with regulations and security system complexity.  

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Business & Investments

Economist Impact’s 4th Global Trade and Supply Chain Summit

Economist Impact’s 4th Global Trade and Supply Chain Summit

How can trade recover amid uncertainty?

[Dubai,October 8-9, 2024] The landscape of international commerce and logistics is evolving rapidly, driven by challenges such as protectionism, global conflict and the rising need for sustainable operations. However, with these concerns beget opportunities, ranging from new technologies,  and emerging growth markets, to innovative supply-chain and procurement models.

To address these issues and explore future strategies, the Global Trade and Supply Chain Summit will gather 500 industry leaders in Dubai. Supported by The Executive Office of H.H. Sheikh Mohammed Bin Rashid Al Maktoum, this summit will provide a platform to navigate the complexities of the current trade environment and promote efficient, resilient and future-proof supply chains.

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Business & Investments

Global CBPR Forum Endorses DIFC for Recognition as an Associate Member

  • DIFC first in the region to advance position on data protection, regulations, and governance within the Global Forum Assembly (GFA)
  • In 2022, DIFC Commissioner recognised Cross Border Privacy Rules (CBPR) as an adequate mechanism for free flow of data with trust
  • As an Associate in the Global CBPR Forum (the Forum), DIFC and the GFA leadership look to further opportunities for regulatory cooperation
  • GFA’s recognition reinforces DIFC’s regionally pioneering position on data protection, regulations, and governance

Dubai, United Arab Emirates; 27 August 2024: Dubai International Financial Centre (DIFC), the leading global financial centre for the Middle East, Africa, and South Asia (MEASA) region, has been recognised by the GFA as an Associate Member.

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Business & Investments

Addleshaw Goddard Advises Cognita on Strategic Acquisition of Al Ain English Speaking School, UAE

Dubai, United Arab Emirates, August 27th, 2024: The Dubai office of law firm Addleshaw Goddard has advised Cognita on its strategic acquisition of Al Ain English Speaking School (AAESS) from Stella Investments. This marks Cognita’s first school in Al Ain and its ninth in the Middle East, further cementing the group’s growing presence in the region.

Lowri Llwyd, Partner – Head of Corporate UAE at Addleshaw Goddard,

Cognita is a UK-based global education group that operates more than 100 schools across 16 countries, educating over 90,000 students. Its acquisition of AAESS follows previous expansions in Kuwait and Dubai, which Addleshaw Goddard also advised on.

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Business & Investments

Savoye introduces cutting-edge logistics solutions to KSA market at the first Saudi Warehousing & Logistics Expo

  • KSA’s rapidly transforming logistics landscape is projected to achieve a valuation of USD 15.31 billion and have 59 new logistics zones by 2030.
  • Savoye as a One-Stop-Shop producer and integrator for automation and software, will address key market bottlenecks to enhance the efficiency and productivity of warehousing operations

27 August 2024: Savoye, a leading global warehouse automation integrator and software publisher, will showcase its comprehensive suite of advanced solutions at the first edition of the Saudi Warehousing & Logistics Expo, Riyadh from September 2 to 4, 2024. The event is poised to drive the adoption of advanced technologies within the Kingdom of Saudi Arabia’s (KSA) supply chain and logistics sector. Prominent industry leaders and innovators will convene at the event, spearheading crucial discussions on the industry’s future.

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