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

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef in Canada. X/@BAlkhorayef

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Updated 50 sec ago

Mohammed Al-Kinani

October 02, 2024 16:34

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

Updated 50 sec ago

Mohammed Al-Kinani

October 02, 2024 16:34

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.

Topics: Minister of Industry and Mineral Resources Bandar Alkhorayef saudi-canada

Experts call for global cybersecurity rules, echoing nuclear age diplomacy

Updated 11 sec ago

Nour El-Shaeri

Miguel Hadchity

October 02, 2024 16:28

Experts call for global cybersecurity rules, echoing nuclear age diplomacy

Updated 11 sec ago

Nour El-Shaeri Miguel Hadchity

October 02, 2024 16:28

RIYADH: In light of rapidly advancing technology outpacing regulatory measures, experts at an event in Riyadh emphasized the steps needed to address cyber risks and foster responsible state behavior.

The Global Cybersecurity Forum showcased speakers discussing the evolving landscape of cyber diplomacy and the imperative for collective action.

Robin Geiss, director of the UN Institute for Disarmament Research, noted that discussions around cybersecurity at the UN have been ongoing for over 25 years. “Technology is not that new for the UN anymore... it’s a dialogue between everyone,” he stated, underscoring that this dialogue serves as a confidence- and transparency-building measure.

Geiss pointed out the difficulty in measuring the impact of these dialogues, saying, “When things escalate, we see directly the cost of human life... But of course, we don’t see so clearly what we’ve prevented.” He stressed the complexities of keeping pace with technology, adding, “Diplomacy and progress at the multilateral level move at the speed of trust.”

Highlighting the current geopolitical climate, Geiss observed a significant trust deficit that complicates multilateral mechanisms in cybersecurity. “What we really need is more progress in action than in theory or proclamations,” he asserted. “We know what we need to do... So how do we move forward at the implementation stage? That is really the challenge.” He praised initiatives like the GCF that unite diverse entities and individuals, while emphasizing that universal bodies like the UN are essential for effective coordination.

Concrete effort

Massimo Marotti, managing director for Strategies and Cooperation at Italy’s National Cybersecurity Agency, highlighted the necessity of concrete collective efforts within Europe.

“You mentioned concrete effort—that’s exactly what we do at the European level. We have 27 agencies for cybersecurity, and our regular meetings lead to concrete measures,” Marotti said.

He cited a recent meeting in Athens, where they addressed the post-quantum cryptography threat, warning, “In a few years, the computer revolution will make all the codes and keys we use today useless unless we change them.” He emphasized the importance of coordinated action, as Europe’s interconnected infrastructure means insecurity in one nation can pose risks for others. Marotti also mentioned forthcoming European regulations designed to enhance cybersecurity across the continent, stating, “We also work with partner countries, not only the EU. For instance, we recently signed a cooperation agreement with Albania.”

Adam Hantman, deputy director of the Bureau of Cyberspace and Digital Policy at the US Department of State, discussed ongoing global efforts to establish cybersecurity norms. “Essentially, what we’re doing here as a community is mapping out the rules of the road to govern a completely new domain,” he explained. He drew parallels to the dawn of the nuclear age, noting, “It took decades for the international community to establish norms and rules governing state roles in that space.”

Hantman emphasized the UN's critical role in cyber diplomacy and highlighted the Counter Ransomware Initiative in Washington, which now includes nearly 70 countries and organizations focused on combating ransomware.

In a separate panel, Heidi Crebo-Rediker, a senior fellow at the Council on Foreign Relations, expressed skepticism about the UN as the central platform for cybersecurity discussions. “I think the UN’s probably not the right place, but there are a lot of mini-lateral spaces where this is very active,” she remarked, suggesting alternative frameworks may be more effective for addressing cybersecurity challenges.

Topics: GCF2024

Cybersecurity is not just about securing data, Schneider Electric official says

Updated 3 min 7 sec ago

Reina Takla

Nour El-Shaeri

October 02, 2024 16:18

Cybersecurity is not just about securing data, Schneider Electric official says

Updated 3 min 7 sec ago

Reina Takla Nour El-Shaeri

October 02, 2024 16:18

RIYADH: The notion that cybersecurity is limited to securing information technology has been labeled a misconception, according to a top official from Schneider Electric.

In an interview with Arab News during the Global Cybersecurity Forum in Riyadh, Abdulrahman Al-Musfir, regional head of the French multinational corporation’s cyber safety unit in the Middle East and Africa, emphasized that including operational technology is crucial for comprehensive cybersecurity.

“When we speak about cybersecurity, we need to differentiate between IT cybersecurity and OT cybersecurity. So, for IT security, we are protecting information, data. However, in the OT security, we are protecting the process. Whether it’s a power plant, whether it’s an oil and gas plant, whether it’s a manufacturing production line. All these are considered as operational technology or industrial control systems,” Al-Musfir said.

“At Schneider Electric, we manufacture and we conduct maintenance and services for these systems and solutions. And it is part of our duty as a digital company for producing these solutions to make sure that they are secure by design and secure by operations,” he added.

Al-Musfir explained that understanding securing systems and operation processes is critical when it comes to infrastructure and energy sectors.

“The theme of this forum is advancing collective action. And when we speak mainly about the critical infrastructure sector, including oil and gas, electricity, and water, for nations, this is one of the most sensitive sectors or industries that we have for any nation,” he said.

He highlighted that such sectors impact human safety and national economies. “For this critical infrastructure, we need to secure the full supply chain related to any systems, solutions for any automation that is part of this critical infrastructure,” he added.

According to Al-Musfir, establishing strong cybersecurity resilience requires full alignment between the producers of technology and its participants, such as end users in petrochemical companies, oil firms, and government entities.

He emphasized that government regulations must be implemented to enable the industry and secure it effectively.

“There must be a balance between innovation and security restrictions and control, and it is our role as a collective action to ensure that we put all these cybersecurity risk mitigations across the full value chain for this kind of industry or sector,” he said.

The GCF is scheduled to take place from Oct. 2-3 under the theme “Advancing Collective Action in Cyberspace,” with the goal of enhancing multi-stakeholder engagement and driving joint initiatives on key strategic priorities.

Topics: GCF2024 Global Cybersecurity Forum Cybersecurity

Saudi Arabia, NASA explore collaborations in space technology

Updated 02 October 2024

MOHAMMED AL-KINANI

October 02, 2024 15:07

Saudi Arabia, NASA explore collaborations in space technology

Updated 02 October 2024

MOHAMMED AL-KINANI

October 02, 2024 15:07

JEDDAH: Saudi Arabia is seeking to strengthen its ties with NASA following a recent high-level meeting in the US focused on exploring partnerships in advanced technologies and global scientific innovation.

During his visit, Abdullah Al-Swaha, the Saudi minister of communications and information technology and chairman of the Saudi Space Commission, met with NASA Administrator Bill Nelson to discuss strategic collaborations in space-related industries.

The discussions centered on joint efforts to promote space-based scientific innovation for the benefit of humanity.

Al-Swaha also met with Princess Reema bint Bandar, the Saudi ambassador to the US, and leaders from the American Chamber of Commerce to explore investment opportunities between the two nations.

Topics included potential investments in the digital economy, artificial intelligence, space, and innovation, as well as Saudi initiatives aimed at fostering science and entrepreneurship, according to the Saudi Press Agency.

While in Washington, Al-Swaha praised Saudi students at the Cultural Attaché office for their achievements, highlighting their contributions to the country’s competitiveness in science, engineering, technology, and space.

As part of Saudi Arabia’s delegation to the 79th session of the UN General Assembly, he also participated in the Summit of the Future held last month in New York.

During the summit, Al-Swaha noted that Crown Prince Mohammed bin Salman’s support for youth and women has led to significant progress in inclusion and empowerment, with a 35 percent participation rate of women in the tech sector in just six years—surpassing averages in the EU and G20 countries.

He highlighted initiatives like the Misk Foundation’s “Saudi Codes” program, which has trained one million women and youth in programming, and the historic journey of Rayyanah Barnawi, the first Muslim Arab female astronaut to the International Space Station.

He concluded by emphasizing that these efforts have improved Saudi Arabia’s standing in global indices, including the UN E-Government Development Index 2024, where the Kingdom ranked fourth worldwide and second among G20 nations in the digital services index.

Al-Swaha also discussed Saudi Arabia’s role as a model of international cooperation, collaborating with the UN’s International Telecommunication Union to address the digital divide affecting 2.6 billion people lacking access to digital solutions.

He showcased the Kingdom’s pioneering virtual hospital, which has successfully performed specialized surgeries, including open-heart operations for patients in various countries. Additionally, he reaffirmed Saudi Arabia’s commitment to advancing its digital economy through the proposed establishment of the Digital Cooperation Organization, aimed at serving over 800 million people by providing digital platforms and a unified digital market to stimulate innovation in healthcare, education, and business.

At the summit, Al-Swaha also discussed Saudi Arabia’s efforts to bridge social, economic, and AI gaps during a session titled “Toward a Common Digital Future.”

He revealed that the Kingdom presented seven recommendations to the UN, including the establishment of an independent international scientific committee on AI and the creation of a platform for sharing AI-related standards and best practices.

Topics: space tech

Saudi Arabia expanding gender roles in cybersecurity, forum hears

Updated 02 October 2024

Nadin Hassan

October 02, 2024 14:05

Saudi Arabia expanding gender roles in cybersecurity, forum hears

Updated 02 October 2024

Nadin Hassan

October 02, 2024 14:05

RIYADH: Saudi Arabia is redefining its approach to cybersecurity as it advances its Vision 2030 agenda, aiming to broaden participation in the field beyond traditional military roles, a forum was told.

Speaking on the first day of the Global Cybersecurity Forum in Riyadh, Silvana Koch-Mehrin, founder and president of global network Women Political Leaders, emphasized the need to make the industry more inclusive, stating: “Cybersecurity does not mean military.”

Koch-Mehrin highlighted the diverse opportunities within the sector that appeal to women, particularly as they navigate the digital landscape.

“It has a lot of different facets, passion, and relevance for women, especially as mothers and as individuals who live in the digital world. This is something women would be interested in working on,” she said.

This push aligns with Saudi Arabia’s commitment to cybersecurity as a national priority, not only to safeguard its digital infrastructure but also to create opportunities for women in the workforce.

Hala bint Mazyad Al-Tuwaijri, president of the Human Rights Commission in Saudi Arabia, pointed out that the reforms enabling this shift have been profound and far-reaching.

“For a very long period of time, women were highly educated in Saudi, not all of them very young, and also they were only employed in certain sectors,” Al-Tuwaijri said.

She added: “With the Vision 2030, and with the opening of different sectors for women, and also for the older reforms, the legal, structural procedure reforms that happened. These new sectors that opened, allowed for that kind of leap in the participation of women.”

Al-Tuwaijri emphasized that empowering women in cyberspace is as essential as in the real world.

“It’s a necessity — an economic and security necessity — for us to have women play a role because, from our experience in Saudi Arabia, the empowerment of women could not have reached these levels without the participation of women,” she said.

Koch-Mehrin underscored the importance of challenging ingrained biases in the workplace and society, saying: “Perceptions on leadership and which jobs are for men or women are deeply rooted in many societies. It’s impressive to see what’s happening in Saudi Arabia, where these norms are being questioned and changed. This shift will be a major driver for future change.”

One effective tool for facilitating this change, according to Koch-Mehrin, is mentoring, both traditional and reverse – where mid-level women work with senior male executives to raise awareness about unconscious biases.

“Mentoring is critical,” she said, adding: “But I would also say reverse mentoring is very important, and some corporations do that already. It’s not only about traditionally male executive mentoring mid-level women on how to get up to the executive level but also about raising awareness about what it’s actually like for women in these spaces.”

Saudi Arabia has made significant strides in strengthening its cybersecurity capabilities, reflecting the Kingdom’s growing focus on digital security as it becomes more interconnected globally.

The establishment of the National Cybersecurity Authority and initiatives like the Global Cybersecurity Forum position the Kingdom as a leader in safeguarding its digital landscape.

As the country undergoes rapid digital transformation, ensuring the protection of data and infrastructure has become a national priority, where women can play a critical role.

Topics: GCF2024 Global Cybersecurity Forum Global cybersecurity

Public, private sectors partnership is crucial to ensure cyberspace safety, official says

Updated 02 October 2024

Reem Walid

October 02, 2024 13:47

Public, private sectors partnership is crucial to ensure cyberspace safety, official says

Updated 02 October 2024

Reem Walid

October 02, 2024 13:47

RIYADH: Genuine partnership between the public and private sector is crucial to ensure technology safety within cyberspace, a former director at the UK Government Communications Headquarters said.

Speaking in a panel discussion titled “Pathways to De-escalation: Shared priorities for reducing tensions and advancing stability in cyberspace” on the first day of the Global Cybersecurity Forum in Riyadh, Sir Jeremy Fleming explained that the private sector has many of the levers needed to facilitate and highlight cyber threats effectively.

This falls in line with the fact that on the domestic front, working with the private sector offers governments a chance to leverage insights and expertise to improve digital defense.

According to the Global Cybersecurity Index 2024, almost 63 percent of countries reported having inter-agency processes for cybersecurity within their governments.

“Big technology companies have as good a radar on what’s happening in cyberspace as governments do, and so that leads to two conclusions for me. The first is that there is no point in governments talking to each other about cyberspace. There has to be a genuine partnership with the private sector because the private sector has many of the levers we need to make sure that this technology is safe, to make sure that threats are called out,” Fleming said.

“Now, there is a space in all of that for, for secret stuff, there’s a space for the things that only governments can do. But again, that has to be in tandem with the private sector,” he added.

Fleming further highlighted the importance of effective communication within the sector.

“The second thought is that I spent the last 15 years thinking and talking about cyber, but if you ask me to give you a crisp definition of it, I’m still struggling. And so, I think we have a communication problem here in how we talk about cyber and how we engage our populations in making sure that it stays at the top of the agenda,” the former director of GCHQ said.

“The debate we’re having at the moment about artificial intelligence and particularly safety is a way into this,” he added.

Also speaking during the same panel, the former President of the European Commission and former Prime Minister of Portugal, Jose Manuel Barroso, shed light on child protection within cyberspace.

“There are some areas where I believe international cooperation can be relatively sincere; one of them is child protection,” Barroso said.

“I don’t see any reason why the governments, in spite of geopolitical interests and differences, should not consider child protection a global public good,” he added.

Barroso continued to highlight that cybercrime will increase because there are politically and economically malign actors, and some of the technologies, including AI, generative AI, and others, make the digital space even more difficult to manage.

“It’s true that according to some experts, some of those innovations can also help us fight cybercrime, it’s true. But the reality is that the digital space is becoming increasingly difficult to manage from a security point of view, for states, for companies,” he said.

“So, my first word is let’s prepare. Preparedness is the key at the national level. At the regional level, in the European Union, we are doing something. We have a European Agency for Cyber Security. I believe it’s not sufficient,” the former president of the European Commission added.

Also present at the panel, former US Secretary of Defense Mark Esper tackled what businesses need in order to navigate the digital economy.

“As businesses try to navigate more and more the digital economy, they’re going to need more consistency, more predictability. They cannot afford patchworks of regulatory law or privacy and data sharing, things like that. So, we’re going to need to smooth out, smooth out that electronic environment,” Esper said.

“In cyberspace, it’s an asymmetric tool that rich countries, poor countries, strong countries, weak countries, organizations or people or even governments can use that tool against others to gain an advantage or to level the playing field,” he added.

The former US secretary of defense emphasized how cyberspace is not static, but instead, is dynamic.

“As you see increasing advances in artificial intelligence and quantum sciences and advanced logarithms and software, it’s going to make this offense-defense component all the more challenging out there,” he said.

Experts from technology, public policy, defense, and other sectors will gather in Riyadh for the two-day Global Cybersecurity Forum.

The event will focus on fostering collaboration under the theme “Advancing Collective Action in Cyberspace,” with the goal of enhancing multi-stakeholder engagement and driving joint initiatives on key strategic priorities.

The program will feature five core sub-themes, each addressing a crucial aspect of cybersecurity.

Topics: GCF2024 cyberspace Global Cybersecurity Forum

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

Saudi-Canadian industrial ties strengthen as minister explores investment opportunities

Saudi Arabia intensifies mining tech push in meetings with US firms

Experts call for global cybersecurity rules, echoing nuclear age diplomacy

Experts call for global cybersecurity rules, echoing nuclear age diplomacy

Cybersecurity is not just about securing data, Schneider Electric official says

Cybersecurity is not just about securing data, Schneider Electric official says

Saudi Arabia expanding gender roles in cybersecurity, forum hears

Public, private sectors partnership is crucial to ensure cyberspace safety, official says

Saudi Arabia, NASA explore collaborations in space technology

Saudi Arabia, NASA explore collaborations in space technology

Saudi Arabia expanding gender roles in cybersecurity, forum hears

Saudi Arabia expanding gender roles in cybersecurity, forum hears

Public, private sectors partnership is crucial to ensure cyberspace safety, official says

Global Cybersecurity Forum highlights the need for collective action to secure the digital future

Public, private sectors partnership is crucial to ensure cyberspace safety, official says

Public, private sectors partnership is crucial to ensure cyberspace safety, official says

Global Cybersecurity Forum highlights the need for collective action to secure the digital future

Global Cybersecurity Forum launches major initiatives to strengthen online resilience and child protection

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

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