
Data Privacy Day: Safeguarding the Future in the Middle East
This World Data Privacy Day, industry leaders from various technology companies have come together to highlight the urgent need for enhanced data protection in our increasingly interconnected world. Johnny Karam, Managing Director and Vice President for International Emerging Markets at Cohesity emphasizes that the current cybersecurity landscape has dramatically changed, with daily cyberattacks in the UAE increasing from 50,000 to over 200,000, according to His Excellency Mohamed Al Kuwaiti, Head of Cyber Security for the UAE Government, speaking at GITEX 2024. This surge necessitates a shift from traditional cybersecurity methods to more advanced solutions like AI-driven threat simulations and quantum-resilient encryption methods to protect sensitive data. Johnny Karam, Managing Director and Vice President for International Emerging Markets at Cohesity
Karam also underscores the significance of aligning with the UAE's ethical AI policies and National Cybersecurity Strategy to foster innovation while ensuring robust security. Adopting proactive measures and ethical AI practices not only safeguard critical systems but also foster trust and support sustainable growth in today's digital era. He advises that organizations implement protocols such as immutable data security to provide an additional layer of protection against ransomware attacks, data breaches, and financial losses. Ahmad Shakora, Group Vice President of Emerging Markets at Cloudera
Similarly, Ahmad Shakora, Group Vice President of Emerging Markets at Cloudera, highlights the paradox businesses face: leveraging analytics to drive innovation while safeguarding individual privacy. As AI adoption outpaces regulations, Shakora argues that it's imperative for organizations to embed privacy into their operations, covering data from collection to deletion. It's vital to not only comply with laws but to ensure privacy is intrinsic to the business process.
Shakora calls for proactive steps such as building secure-by-design systems, training staff on privacy priorities, and cultivating a culture of transparency. In an evolving AI landscape, businesses that earn and maintain customer trust will lead the way in the digital age where trust acts as crucial currency. Louise Bou Rached, Regional Director of META at Milestone Systems
Louise Bou Rached, Regional Director of META at Milestone Systems, points out that the alarming daily average of 200,000 cyberattacks in the UAE demands robust data protection more than ever. She stresses that Data Privacy Day serves as a crucial reminder of the responsibilities in our data-driven world. According to Rached, the Middle East's rapid digital adoption necessitates a delicate balance between innovation and privacy, requiring organizations to embed privacy-by-design principles and invest in technologies that can safeguard data while maintaining efficiency and trust.
Rached argues that individuals can contribute to data security by managing privacy settings and sharing information responsibly. On an organizational level, privacy should be viewed as a business imperative, she says, highlighting the importance of clear communication, responsible data handling, and vendor oversight to maintain trust and protect individual rights. Education and collaboration across the industry are essential to handle the complexity of data ethics responsibly, ultimately fostering a future where innovation and privacy coexist.
Edwin Weijdema, Field CTO EMEA & Cybersecurity Lead at Veeam Software, remarks that Data Privacy Day is an opportunity to reflect on the significant changes in cybersecurity regulations over the past year. He notes the increasing importance of corporate accountability for data resilience, especially with regulations like NIS2. Weijdema believes that data resilience is shifting from a cybersecurity requirement to a critical business differentiator, as organizations must be prepared to demonstrate their data resilience efforts to executives and third-party partners, reflecting an awareness driven by persistent breach and ransomware threats. Emilie Kuijt, DPO at AppsFlyer
Emilie Kuijt, DPO at AppsFlyer, acknowledges the challenge and opportunity that online privacy represents for brands in 2025 as technological advancements continue to outpace regulatory frameworks. Kuijt stresses that consumers are more conscious of their data usage than ever before, prompting companies to adapt by adopting Privacy-Enhancing Technologies and embedding privacy-by-design principles to meet evolving legislative requirements and consumer expectations. To succeed, brands must prioritize transparency with explicit cookie policies, offer genuine customer choices without coercion, and respect data subject requests, advocating for a clear focus on building trust and fostering lasting customer relationships.
Overall, this Data Privacy Day serves as a crucial reminder of the ever-evolving landscape of data protection and the continuous efforts required to uphold privacy. By adopting innovative and ethical practices, organizations can not only safeguard sensitive information but also foster trust, ensure operational continuity, and drive sustainable growth in an increasingly data-driven world. 0 0
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Zawya
19 minutes ago
- Zawya
US dollar weakness makes EM local debt great again: IFR
Local currency emerging market bonds are delivering huge gains this year thanks to a weakening US dollar and improving fundamentals in developing countries. By the close of June 3, EM local debt had delivered a total return of 9.69% year to date, according to the JP Morgan EM local GBI Index – far surpassing any high-yielding fixed-income asset class, including EM hard currency debt. That compares to a significant underperformance of EM local debt between 2010 and 2024 when average annualised returns were just 1%, according to Neuberger Berman. 'It's an interesting situation,' said Vera Kartseva, portfolio manager and strategist at Neuberger Berman. 'Usually, local currency bonds are seen as the riskiest asset class correlating with equities. But right now, we see an inverse correlation because of the change in the dynamic of the dollar.' In the past three years, the US dollar has appreciated, making it a difficult environment for EM local debt and causing outflows in the asset class. 'But now, we have an overvaluation of the dollar with a catalyst for weakness, emanating from US policy, making it a favourable environment for local EM bonds,' said Kartseva. Performance of EM local debt is often driven by the US dollar, explaining up to 70% of the performance of the asset class, according to Kartseva. 'The overall dollar weakness plays a big role in global portfolios,' she said, adding that Neuberger Berman is 'preferring local to hard EM debt' in its portfolios. Other EM asset managers are also adding to their local debt positions. 'We've been adding to our exposure to EM currencies since the uncertainty on trade and the U-turns from the White House,' said Alexis de Mones, portfolio manager at Ashmore. 'There is a radical change in funding conditions for EM sovereigns and an increasing interest for local currency products.' Strong fundamentals It is not just a weaker US dollar but strong fundamentals in emerging and frontier markets such as lower oil prices, which will help boost growth in these economies. 'While the weaker dollar is certainly helping, we're seeing contributions from bond price appreciation in many countries, as the market begins to factor in lower oil prices and the implications of stronger EMFX on central banks' reaction functions,' said Joseph Cuthbertson, EM sovereign research analyst at PineBridge Investments. Frontier markets are also benefiting from increased demand. The likes of Argentina, Egypt and Nigeria have attracted 'significant inflows' in 2025, according to Raoul Luttik, senior portfolio manager at Neuberger Berman. 'The opportunity set in EM frontier local has increased as fundamentals across several countries have improved, and we're seeing credible reform efforts in Nigeria, as well as disinflation and attractive currency valuations and carry in Egypt,' said Cuthbertson. Meanwhile, Argentina has pushed through deregulation laws and reduced its fiscal deficit. As well as the Egyptian pound and Nigerian naira, PineBridge is keen on the Uzbek som and South African rand 'where we think any upcoming changes to lower the inflation target would be positive for the currency", said Cuthbertson. Uzbekistan particularly stands out 'given reform momentum and improving credit fundamentals', he said. Less correlated Frontier markets are not typically included in benchmarks or ETFs, meaning they are less correlated to global macroeconomic volatility but rather respond to each country's own macroeconomic changes. 'In the frontier space, we look for a combination of a credible path for fiscal and monetary policies, combined with an undervalued exchange rate and attractive carry,' said Cuthbertson. 'We pay close attention to the amount of offshore positioning in each domestic market, looking for underowned markets and opportunities.' The taper tantrum of 2013 – when Treasury yields surged after the Federal Reserve announced it would start to taper quantitative easing – was the last time there was a direct correlation between FX and interest rate volatility in EM, according to de Mones. 'Since then, any selloff in global core bonds, including Treasuries, has not led to a more-than-proportional selloff in EM bonds,' he said. 'Many EM countries have been doing well from a fundamental point of view since the taper tantrum years,' said Luttik, referring to the reduction in external imbalances and tighter monetary policies to bring inflation back to target. 'Attractive valuations and low foreign participation add to the favourable outlook for local bonds,' he said. Can the outperformance of local EM bonds continue? 'It's early days,' said Kartseva. 'Flow-wise we still have year-to-date outflows in the asset class. But we have started seeing inflows in the past couple of weeks [and] this trend has all the ingredients to continue.' The fact the local GBI EM index has become more skewed towards Asia in recent years following the inclusion of India and China, and as the weight of more volatile countries like Brazil, South Africa and Turkey has shrunk, makes the index's 'risk/return profile more stable', said Luttik.

Zawya
15 hours ago
- Zawya
The Energy News Network (ENN): The New Independent Voice for Emerging Market Energy
The Energy News Network (ENN), a new independent platform dedicated to the stories behind energy in emerging markets, is now live. Covering corporate and public sector leaders, utilities, ministries, and regulators across Africa and beyond, ENN will track the policy shifts, investments, and diplomatic moves shaping the energy sector's evolution. Visit: Africa's energy demand is growing at twice the global average yet, with more than 600 million people still unable to access electricity, the continent needs some $25bn annually in energy investments to achieve universal access by 2030. ENN will delve into how the region can meet these ambitious targets, spotlighting the people, projects and policies defining the future of energy access, innovation, and impact. The platform features incisive editorial, expert opinion, and compelling human stories centred on Africa's 21st-century energy narrative. From renewables to mining, and from finance to frontier energy access, ENN provides independent, in-depth coverage of a sector critical to the continent's future. Current feature stories include: Exploring how Mission 300 is tackling Africa's energy access crisis and scaling clean energy solutions. A deep dive into Zambia's current energy challenges and opportunities. A profile of William Amuna, the new board chair of the Electricity Company of Ghana. Visit: Simon Gosling, founder of ENN, says: 'We're committed to telling the stories that matter most, combining expert insight with sharp analysis to shine a light on the forces shaping energy in emerging markets. Our goal is to bridge expertise with on-the-ground realities, giving voice to the people, projects, and policies driving energy transformation across Africa and beyond in the 21 st century.' Distributed by APO Group on behalf of EnergyNet Ltd..


Zawya
a day ago
- Zawya
DP World, JP Morgan in deal to boost trade finance availability
DP World Trade Finance and JP Morgan are collaborating to improve access to working capital in emerging markets, where supply chain disruptions and limited credit continue to hinder trade. The deal comes at a time when the world is facing a $2.5 trillion global trade finance gap, hindering the growth of global trade and impacting businesses worldwide. Many businesses are underserved by traditional financial institutions due to limited data on their creditworthiness, making it challenging for businesses to secure affordable credit, said DP World Trade Finance in its statement. This collaboration aims to address this gap and enables both companies to share the risk on trade finance transactions, it stated. The first transaction supported a leading global food company in procuring cocoa from Ivory Coast, one of the world's most important agri-export regions. This collaboration unlocked over $70 million in annual procurement opportunities for the client, and brought significant value into an emerging economy like Ivory Coast, it stated. Raj Jit Singh Wallia, Board Member, DP World Trade Finance, said: "This is a significant step in our mission to bridge the global trade finance gap and help businesses tap into new sources of funding. By leveraging risk-sharing mechanisms and combining them with logistics in one ecosystem, we reduce the overall credit risk profile and enhance liquidity in emerging markets." "This is one of many transactions stemming from our collaboration with JP Morgan. As regions like Central Asia and Sub-Saharan Africa continue to grow, we anticipate our work with JP Morgan will continue expanding into new markets," he added. James Fraser, Global Head of Trade & Working Capital, said: "At JP Morgan, we are committed to supporting global trade. Our collaboration with DP World Trade Finance allows us to offer innovative financing solutions that provide working capital to businesses while mitigating risk through DP World's expertise." "Looking ahead, we are excited to work together to explore and broaden access to structured trade finance in pivotal markets through innovative financial frameworks, he added. Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (