logo
Why Passwords still matter as a first line of cybersecurity in Middle East

Why Passwords still matter as a first line of cybersecurity in Middle East

Tahawul Tech02-05-2025
May 1, marks the 12th anniversary of World Password Day.
A lot has changed in the world of cybersecurity since 2013, the year in which Dubai Airports was hacked by The Portugal Cyber Army and HighTech Brazil HackTeam, stealing information about employees and other data.'Cybersecurity' is a phrase everyone is now familiar with as a part of modern-day life and with our interconnected worlds only continuing to accelerate.
What hasn't changed, however, is the threat of an attack. Now, in 2025, businesses and individuals can appreciate that attacks are indiscriminate, fast, take place on a global scale, and can happen at any time. The ferocity and sophistication of cybersecurity incidents have only increased as our data usage continues to explode on a global scale.
In today's enterprise, it's almost impossible to ignore how deeply embedded cloud, SaaS, and hybrid environments have become in daily business operations. Even organisations with strict controls have found it difficult to resist the pull of scalable infrastructure, the latest tools, and the ever-increasing demand for agility and productivity. Whether sanctioned or shadow IT, these platforms are now integral to business.
But as our digital environments have evolved, one constant has stubbornly remained: the password. Despite being a decades-old security mechanism—often the first line of defense—it continues to serve as the gateway to critical systems and sensitive data. And while it might seem like a basic building block, its role in cyber resilience has never been more critical.
Recent findings from Rubrik Zero Labs reinforce this reality: 90% of IT and security leaders reported experiencing a cyberattack in the past year. And with 35% of them naming hybrid cloud data security as their top challenge, the urgency becomes clear. Add to this, it is estimated that over a third of sensitive files are classified as high risk—typically containing Personally Identifiable Information (PII)—and it's evident that foundational security practices, like identity and access management, need renewed focus.
The password and the identity tied to it may be legacy, but in the modern enterprise, they're far from obsolete.
Password protection remains a fundamental pillar of enterprise security—arguably more critical now than ever before. As businesses race to embrace AI's transformational potential to boost productivity, streamline operations, and extract deeper value from data, they must also confront a parallel reality: threat actors are evolving just as quickly.
We're now seeing a concerning trend where compromised AI systems can be used as reconnaissance tools for attackers. Designed to help users search vast repositories of files, chat histories, and business intelligence, these GenAI platforms are compelling but when identities tied to these systems are compromised, that same power can be used against an organisation. Essentially, what accelerates business outcomes becomes a highly efficient breach assistant.
Compromised credentials, notably passwords, remain among the most common entry points for ransomware and other advanced attacks. Now, in an AI-driven world, the stakes are even higher. If attackers gain access to an AI system via a stolen identity, they don't just access files—they gain context, patterns, and insights at machine speed.
In this landscape, securing identities isn't just an IT best practice—it's a core business need. As AI becomes embedded across an enterprise, protecting the passwords and identities that govern access to these tools must be prioritised with the same urgency as protecting sensitive data.
Fortifying Security. Ensuring Business Continuity
Employee password vulnerabilities are a major cybersecurity risk. For businesses, insider threats, often driven by compromised credentials, can expose a huge hole in a cyber resiliency defence strategy and leave an open door to criminals to exploit. Here are my views on how businesses can strengthen their defences:
Educate and train your employees: Human error is a major vulnerability. Regularly train staff on password best practices, phishing attempts, and the importance of data security protocols.
Password managers: Encourage or mandate the use of reputable password managers. These tools generate and securely store complex, unique passwords for different accounts, reducing the burden on employees to remember multiple combinations.
Regularly update software and systems: Keep all software, operating systems, and security tools updated with the latest patches. Updates often address known vulnerabilities that cybercriminals can exploit.
Implement and retain strong access controls across your ecosystem: limit access to sensitive data and systems to ensure employees have only the permissions necessary to perform their job duties.
Implement backup and recovery planning and solutions: create an incident response plan to ensure that if an attack does happen data is safe, has been regularly backed up and is secure, so you can hit the ground running again.
In short, make everyday World Password Day, whether in your personal or professional life. By embracing a holistic approach to cyber resiliency, businesses and staff can reduce the risk of falling victim to threats, assets, and reputational damage.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Mashreq records AED 6.2bln in operating income in H1 2025
Mashreq records AED 6.2bln in operating income in H1 2025

Zawya

time20 minutes ago

  • Zawya

Mashreq records AED 6.2bln in operating income in H1 2025

RELATED TOPICS EARNINGS RELATED COMPANIES SME Bk CBUAE Mashreq bank TFB Bank F iShares MSCI Dubai – Mashreq Bank PSC (MASQ) reported its financial results for H1 2025. Key Metrics: Mashreq's operating income reached AED 6.2 billion in H1 2025, reaffirming the Bank's position as one of the region's most resilient and forward-looking financial institutions. The performance reflects Mashreq's continued ability to generate strong, broad-based growth despite a softening interest rate environment, supported by double-digit increases in both lending and non-interest income. Return on Equity remained robust at 20%, while the industry-leading Cost-to-Income ratio of 30% highlights ongoing efficiency even amid accelerated investment in digital transformation, AI-enabled capabilities, and strategic international market expansion. These results underscore Mashreq's disciplined execution, diversified revenue model, and long-term focus on sustainable value creation for clients and shareholders alike. Revenues Robust topline performance underpinned by diversified growth, pricing discipline and a superior funding mix. Operating income rose to AED 6.2 billion in H1 2025, driven by 21% year-on-year growth in loans and robust contributions from investment and other non-interest income streams—highlighting Mashreq's ability to capture value across cycles and deliver quality growth amid moderating interest rates. Net interest income increased 1% quarter-on-quarter to AED 2.0 billion in Q2 2025, as sustained volume growth and disciplined asset repricing offset the cumulative 100bps rate cut implemented since 2024. Net Interest Margin (NIM) remained strong at 3.2%, supported by continued enhancement of Mashreq's funding profile, with the CASA ratio improving to a market-leading 69%, up from 62% year-on-year. Non-interest income expanded 17% year-on-year, propelled by a 55% surge in investment income and a 56% increase in other income streams. The Cross-Sell Ratio rose to 36%, a 5% year-on-year improvement, reinforcing the strength of Mashreq's relationship-led strategy and deepening client penetration across businesses. Expenses Strategic investment in digital transformation, global talent, and international client platforms—delivered with best-in-class cost efficiency. Operating expenses increased by 11.5% year-on-year, reflecting focused investments to support Mashreq's international expansion, upgrade digital infrastructure, and enhance client interface channels across all key markets. This includes continued advancement of next-generation platforms, automation, and GenAI-led initiatives, as well as targeted recruitment and upskilling of high-impact talent. Despite elevated investment activity, the cost-to-income ratio remained best-in-class at 30%, underscoring Mashreq's operational discipline, scalable technology backbone, and sustained ability to drive efficiency while executing its strategic growth roadmap. Net Profit Resilient bottom-line delivery driven by core strength, global expansion, and capital efficiency—despite higher tax headwinds. Profit Before Tax reached AED 4.1 billion in H1 2025, underscoring the continued strength of Mashreq's core banking franchise and the momentum across key business lines. This performance was achieved despite a softer rate environment, normalization of risk costs, and sustained strategic investments in digital innovation and international expansion across Türkiye, Oman, and Pakistan. Net Profit After Tax stood at AED 3.5 billion, reflecting Mashreq's ability to deliver solid earnings and maintain profitability in the face of a significantly higher tax burden following the implementation of the UAE's 15% global minimum tax under the Pillar Two framework. Return on Equity (ROE) remained strong at 20%, illustrating the Bank's ongoing ability to generate superior shareholder returns through disciplined capital allocation, a capital-light operating model, and diversified revenue streams. Mashreq's earnings profile remains balanced and resilient, demonstrating its capacity to sustain profitability while continuing to invest in long-term growth across digital platforms, strategic markets, and client-centric verticals. Asset Quality Exceptional credit discipline and proactive risk management sustain sector-leading asset quality Provision charges increased to AED 245 million in H1 2025, reflecting Mashreq's prudent and forward-looking risk posture in light of continued global macroeconomic and geopolitical uncertainties, despite robust double-digit loan growth. The Non-Performing Loan (NPL) ratio further improved to 1.2%, down from 1.3% year-on-year, reaffirming Mashreq's market-leading asset quality and underscoring the effectiveness of its disciplined underwriting and early-warning risk frameworks. The Coverage Ratio remained exceptionally strong at 210%, highlighting the Bank's conservative provisioning strategy and its strong capacity to absorb potential credit stress, even under evolving operating conditions. Balance Sheet Sustained double-digit growth anchored in strong client demand (loans up 21%), funding depth (CASA 69%), and strategic lending across key sectors. Mashreq's balance sheet expanded by 16% year-on-year in H1 2025, reflecting healthy underlying demand across priority markets and continued momentum in both wholesale and retail banking segments. Loans and advances—including to customers and banks—grew by a solid 21% year-on-year, with growth concentrated in strategically important sectors such as residential mortgages, manufacturing, construction, and financial institutions, reinforcing the Bank's role in supporting real economy sectors. Customer deposits reached AED 178 billion, up 15% year-on-year, driven by deepening client relationships and continued franchise strength. Notably, the CASA ratio rose to 69% of total deposits, providing a stable and low-cost funding base that enhances both profitability and liquidity resilience. Liquidity and Capital Industry-leading capitalization and strong liquidity buffers reinforced by strong earnings underpin resilience and investor confidence in Mashreq's credit strengthen. Mashreq maintained a robust liquidity position, with a Liquid Assets Ratio of 30.6%, a Loan-to-Deposit Ratio of 75%, and a Liquidity Coverage Ratio (LCR) of 120%—well above regulatory requirements—reinforcing the Bank's conservative liquidity posture and capacity to navigate dynamic market conditions. The Bank's capitalization profile remains among the strongest in the industry, supported by sustained profitability and prudent capital management. As of H1 2025, the Capital Adequacy Ratio (CAR) stood at 17.5%, with a Tier 1 Capital Ratio of 16.2% and a Common Equity Tier 1 (CET1) Ratio of 14.8%—providing a significant buffer above minimum regulatory thresholds and positioning the Bank to support growth while managing risk effectively. Mashreq further strengthened its funding base through a successful USD 500 million Sukuk issuance, deepening its access to international capital markets and reaffirming its leadership in Islamic finance. The issuance—priced at UST +105bps with a fixed profit rate of 5.03% per annum—was 6x oversubscribed despite market volatility, drawing interest from 90 global investors and reflecting deep confidence in Mashreq's credit fundamentals and strategic direction. D-SIB Designation Recognition of systemic importance reinforces Mashreq's role as a cornerstone of the UAE financial system In H1 2025, the Central Bank of the UAE formally designated Mashreq as a Domestic Systemically Important Bank (D-SIB)—a testament to the Bank's scale, financial strength, and critical role in the stability and advancement of the national banking ecosystem. This designation brings enhanced regulatory expectations, including elevated standards for stress testing, capital, liquidity, and risk governance. Mashreq is already well-positioned to meet and exceed these requirements, with a Capital Adequacy Ratio that surpasses fully-loaded D-SIB thresholds by a comfortable 25% margin as of June 30, 2025. The D-SIB status underscores the trust placed in Mashreq by regulators, clients, and stakeholders, and reinforces the Bank's long-term strategic importance to the UAE's economic transformation and financial resilience. H.E. Abdul Aziz Al Ghurair, Chairman, Mashreq: The first half of 2025 marked another period of exceptional performance and strategic momentum for Mashreq. Our results are a reflection of the trust our clients place in us, the strength and clarity of our long-term strategy, and our unwavering commitment to driving sustainable economic transformation across the UAE and the broader region. While global macroeconomic uncertainty continues to pose challenges, the GCC stands out as a beacon of resilience, supported by strong policy frameworks, fiscal prudence, and a rapidly diversifying non-oil economy. This strength is clearly mirrored in the performance of the UAE banking sector, which saw total investments exceed AED 760 billion by March of this year. Mashreq's trajectory is firmly aligned with this regional momentum. Our continued ability to deliver double-digit growth, expand internationally, and lead with innovation underscores our differentiated value proposition and our disciplined execution across cycles. We remain resolute in our ambition to create enduring value by empowering clients, championing responsible finance, and building a digitally advanced, globally connected financial institution. As the UAE economy maintains its upward trajectory, Mashreq will continue to be a key enabler—supporting inclusive growth, advancing national priorities, and reinforcing the country's position as a global financial hub. Ahmed Abdelaal, Group Chief Executive Officer, Mashreq Mashreq's performance in the first half of 2025 reinforces the strength of our business model and our disciplined approach to sustainable, high-quality growth. Despite a more moderated rate environment and evolving global dynamics, we continued to deliver robust results—underpinned by strong client activity, a diversified earnings profile, and our unwavering commitment to innovation, efficiency, and value creation. Our investment strategy remains sharply focused on future-proofing the organization. We are making measured yet impactful investments in upgrading our technology infrastructure, expanding our digital and international presence, and forming strategic partnerships that allow us to deliver best-in-class client experiences across all segments. These efforts are designed not just to enhance competitiveness but to embed long-term resilience and scalability into our operations. At the same time, we have maintained strict cost discipline. Our ability to absorb continued investment—without compromising our industry-leading cost-to-income ratio of 30%—speaks to the strength of our operational model and our relentless focus on efficiency. Our strategic expansion into high-growth markets such as Pakistan, Türkiye and Oman, along with our entry into GIFT City in India, marks a pivotal step in building Mashreq's global relevance and connectivity. These initiatives are aligned with our ambition to support cross-border capital flows and to serve our clients across key economic corridors with tailored, high-impact financial solutions. As we look ahead, our priorities remain clear: to scale responsibly, partner strategically, and invest intelligently—delivering long-term value to our shareholders while continuing to lead with innovation, discipline, and purpose. Income Statement Highlights (AED mn) Quarterly Trend 1H Δ % 2Q 1Q 2Q Δ % Net Interest Income & Income from Islamic Financing 3,961 4,226 -6% 1,995 1,967 2,082 1% -4% Fees & Commission 644 884 -27% 296 348 336 -15% -12% Investment Income 213 137 55% 100 112 70 -11% 44% Insurance, FX & Other Income 1,370 881 56% 676 694 499 -3% 36% Non-Interest Income 2,226 1,902 17% 1,072 1,154 904 -7% 19% Total Operating Income 6,187 6,127 1% 3,067 3,120 2,986 -2% 3% Operating Expenses -1,866 -1,673 12% -948 -918 -834 3% 14% Operating Profit 4,321 4,454 -3% 2,119 2,202 2,152 -4% -2% Impairment Allowance -245 45 -645% -144 -101 83 42% -274% Net Profit Before Tax 4,076 4,499 -9% 1,975 2,101 2,234 -6% -12% Tax -604 -447 35% -295 -309 -223 -5% 32% Net Profit after Tax 3,472 4,052 -14% 1,680 1,792 2,011 -6% -16% Non-Controlling Interest -68 -50 37% -32 -36 -16 -11% 101% Profit attributable to Owners of the Parent 3,404 4,003 -15% 1,648 1,756 1,995 -6% -17% EPS (AED) 16.4 19.7 -17% 7.9 8.5 9.9 -7% -21% Key Metrics (%) 1H Δ bps 2Q 1Q 2Q Δ bps 2025 2024 YoY 2025 2025 2024 QoQ YoY Cost to Income Ratio 30% 27% 286 31% 29% 28% 149 297 Return on Assets 2.4% 3.3% -86 2.3% 2.5% 3.2% -23 -93 Return on Equity 20% 28% -743 19% 21% 27% -140 -796 Note: Figures may not add up due to rounding differences Net Interest Income rose 1% quarter-on-quarter but declined 6% year-on-year due to a 61bps contraction in NIM to 3.2%, which was driven by a 100bps rate cut by UAE Central Bank. Non-Interest Income representing 36% of Total Operating Income witnessed a 17% year-on-year growth in H1 2025 to AED 2.2 billion supported by strong growth in investment (+55% year-on-year) and other income (+56% year-on-year). Total Operating Income increased by 1% to AED 6.2 billion in H1 2025 supported by non-interest income and double-digit growth in the loan and advances. Operating expenses grew by 11.5%, reflecting continued investment in digital innovation and strategic business expansion. Impairment allowances remained low at AED 245 million in H1 2025 (cost of credit of 36bps), reflecting the strong quality of the loan book and underwriting standards. Income tax expense of AED 604 million in H1 2025 up by 35% year-on-year impacted the net profit after tax, which saw a decline of 14% to reach AED 3.5 billion in H1 2025, with a strong ROE of 20%. Balance Sheet Highlights (AED mn) Jun Jun Δ % Jun Mar Dec Δ % 2025 2024 YoY 2025 2025 2024 QoQ YTD Loan to Customers 134,120 113,827 18% 134,120 125,817 124,758 7% 8% Loans to Banks 63,047 49,142 28% 63,047 55,266 52,272 14% 21% Investments 36,704 39,198 -6% 36,704 37,578 36,422 -2% 1% Cash & Due from Central Bank 46,096 37,572 23% 46,096 41,423 40,593 11% 14% Other Assets 13,518 13,464 0% 13,518 12,467 13,258 8% 2% Investments in Properties 150 264 -43% 150 152 152 -1% -1% Total Assets 293,635 253,467 16% 293,635 272,703 267,453 8% 10% Customer Deposits 177,645 153,964 15% 177,645 171,442 160,940 4% 10% Balances due to banks 48,534 41,421 17% 48,534 42,905 43,374 13% 12% Loans and Sukuk 5,202 4,604 13% 5,202 3,613 3,903 44% 33% Other Liabilities 21,600 19,114 13% 21,600 19,397 19,381 11% 11% Repo 3,659 1,109 230% 3,659 - 2,076 - 76% Minority Interest 1,120 1,003 12% 1,120 1,078 1,067 4% 5% Total Equity 35,876 32,252 11% 35,876 34,269 36,713 5% -2% Total Equity & Liabilities 293,635 253,467 16% 293,635 272,703 267,453 8% 10% . YoY% Key Metrics (%) Jun Jun Δ bps Jun Mar Dec Δ bps 2025 2024 YoY 2025 2025 2024 QoQ YTD CAR (Capital Adequacy Ratio - Basel III) 17.5% 19.5% (190) 17.5% 18.5% 17.5% (90) 5 CET1 (Common Equity Tier 1) ratio 14.8% 15.7% (90) 14.8% 15.4% 14.5% (64) 30 Tier 1 Ratio 16.2% 17.3% (115) 16.2% 16.9% 16.0% (78) 16 Note: Figures may not add up due to rounding differences Total Assets grew to AED 294 billion in H1 2025, marking a 16% year-on-year and 10% year-to-date increase, due to continued credit growth and liquidity optimization The growth in the balance sheet is supported by year-on-year growth in total assets of wholesale banking segment by 23% to AED 161 billion and retail banking segment by 12% to AED 35 billion Customer Deposits increased 15% year-on-year to AED 177 billion with CASA accounting for 69% of total deposits NPL Ratio stood at 1.2% and remained the lowest in the industry Strong capitalization in H1 2025 with Capital Adequacy Ratio of 17.5%, CET1 ratio of 14.8% and Tier 1 ratio of 16.2%, however slightly impacted by strong credit growth resulting in increased Risk Weighted Assets Looking Ahead Mashreq's first-half performance in 2025 reaffirmed the strength of its diversified business model, the trust it commands across domestic and international markets, and its disciplined approach to strategic execution. Looking ahead to the remainder of the year, the Bank will remain focused on driving innovation-led growth, enhancing customer experience across all segments, and expanding its presence in priority markets. Recent entries into Turkey and Oman mark the beginning of a broader regional expansion strategy, with Mashreq aiming to deepen its international footprint through a targeted, client-centric approach. Supported by a strong capital and liquidity base, Mashreq is well-positioned to deliver sustainable and balanced growth, while preserving its leading asset quality and continuing to generate superior returns for shareholders. Awards: Ranked #23 on the Forbes Middle East Top 100 Listed Companies 2025 The Banker – Top 1000 World Banks Best Performing Bank in the UAE for the 3rd consecutive year #1 in the Middle East for Return on Capital (3rd consecutive year) #1 in the Middle East for Return on Assets (2nd consecutive year) S&P Global Market Intelligence Best-performing publicly traded bank in the Middle East in 2025 MEED MENA Banking Excellence Awards Excellence in Sustainable Investment – Corporate & Investment Banking Group Best Compliance and Regulatory Initiative – Eagle Eye Platform Asian Banking & Finance Awards New Consumer Lending Product of the Year - UAE Customer Experience Initiative of the Year - UAE Digital Transformation of the Year - UAE Open Banking Initiative of the Year - UAE Insurance Product Innovation of the Year - UAE Private Bank of the Year – UAE Wealth Management Platform of the Year – UAE SME Bank of the Year – UAE SME Digital Innovation of the Year – UAE Global Finance Top Financial Innovation for 2025 - Pulse Mobile App Euromoney Awards for Excellence The Middle East's Best Bank for Large Corporates The Middle East's Best Digital Bank for Large Corporates The Middle East's Best Bank for Homeowners Bahrain's Best International Bank Bahrain's Best Bank for Large Corporates The UAE's Best Bank for Large Corporates The UAE's Best Bank for Homeowners Euromoney Private Banking Award for 2025 United Arab Emirates' Best for Family Office Services for the 2nd consecutive year. Euromoney Trade Finance Survey: Best Trade Finance Bank in the Middle East Best Trade Finance Bank in Qatar Best Trade Finance Bank for Products, Client Service, and Islamic trade finance products in the Middle East Best Trade Finance Bank for Products in Bahrain Best Trade Finance Bank for Products, Technology and Client Service in Qatar Disclaimer: This document has been prepared by Mashreq Bank PSC ('Mashreq') solely for informational purposes. The views, statements, and data presented herein do not represent a public offer or invitation to subscribe to, purchase, or sell any financial instruments or securities. Furthermore, this document should not be construed as investment advice or a recommendation regarding any financial product. It is not intended for distribution in any jurisdiction where such dissemination would violate applicable laws or regulations. The content in this communication is intended to provide general insights into Mashreq's operations, performance, and strategic direction. While care has been taken in preparing the material, it may include data derived from third-party sources, which have not been independently validated. No warranty or representation is made as to the accuracy or completeness of the information, and it should not be relied upon as the sole basis for making investment decisions. Readers are encouraged to seek their own independent financial, legal, or tax advice tailored to their specific circumstances. This document may contain projections or forward-looking statements reflecting current views of Mashreq's management concerning future events, financial conditions, or performance. These statements are inherently subject to known and unknown risks and uncertainties, including economic developments, interest rate movements, regulatory shifts, geopolitical events, and other factors beyond the Bank's control. Consequently, actual results may differ significantly from those anticipated. Mashreq does not undertake any obligation to update or revise forward-looking statements to reflect future events or changes in expectations, except as required by applicable laws. Mashreq Bank PSC P.O. Box 1250, Dubai, United Arab Emirates

NTT Data And Mistral To Develop Enterprise-Grade AI Solutions
NTT Data And Mistral To Develop Enterprise-Grade AI Solutions

Channel Post MEA

timean hour ago

  • Channel Post MEA

NTT Data And Mistral To Develop Enterprise-Grade AI Solutions

NTT DATA and Mistral AI have announced plans to jointly sell and deploy safe and private enterprise-grade AI solutions that are able to foster strategic autonomy for clients. The companies will combine NTT DATA's comprehensive GenAI and IT services portfolio, global delivery capabilities, industry expertise and trusted client relationships with Mistral AI's solutions and advanced generative AI models, which are recognized for their efficiency, performance and enterprise empowerment. Initial focus areas include: Sustainable and Secure AI Co-Development: The companies will develop sustainable and highly secure private AI solutions for organizations in regulated sectors such as financial services, insurance, defense and public sector. The companies will provide end-to-end solutions from infrastructure to business processes powered by AI applications for clients operating on private clouds. AI-Driven Innovation for IT Infrastructure & Customer Experience: The companies will pioneer the integration of Mistral AI technologies into NTT DATA's customer experience platforms, beginning with agentic AI call center solutions in Europe and Asia Pacific. Joint projects could include co-development of LLMs for specific languages, which will further AI innovation tailored to local markets and specialized needs. Go-To-Market Expansion: NTT DATA and Mistral AI will jointly develop and execute regional go-to-market strategies tailored to the unique dynamics of countries including France, Luxembourg, Spain, Singapore and Australia. End-to-end AI services will range from use-case development and customization to implementation, support and managed services. Dedicated sales teams will be assigned to address key client needs and priorities. To drive innovation and implementation excellence, NTT DATA will establish a Mistral AI Center of Excellence staffed with subject matter experts and dedicated resources. In addition, Mistral AI will launch a technical enablement and certification program for NTT DATA personnel. 'Collaborating with Mistral AI to bring trustworthy, impactful AI to marketaligns with NTT DATA's mission to accelerate client success and positively impact society through responsible innovation,' said Abhijit Dubey, CEO and Chief AI Officer, NTT DATA, Inc. 'By joining forces with Mistral AI, we will harness the power of high-performing AI models combined with NTT DATA's comprehensive AI capabilities, including our Smart AI Agent Ecosystem. In doing so, we can assure secure, scalable and sustainable deployments for enterprises across the globe.' 'By collaborating with a global leader in digital transformation like NTT DATA, we will bring our next-generation AI solutions into real-world business applications, with a strong focus on organizations that need the highest standards of data privacy in their AI journey,' said Arthur Mensch, CEO, Mistral AI. In one of the first joint projects, Dennemeyer, a leading full-service global provider for intellectual property (IP) management, has chosen Mistral AI and NTT DATA to develop an AI-driven application for advanced patent searches and analyses, bringing the technical layers to securely run AI workloads.'Dennemeyer continues to be a driving force in the digital transformation of the IP industry; a key aspect of this is strong partnerships with organizations like Mistral AI and NTT DATA, who bring a deep technical understanding of AI and its integration into business processes,' said Brochmann Laurent, Global Chief Digital Officer, Dennemeyer. In another early effort, NTT DATA Luxembourg and Mistral AI will co-develop a sovereign platform in Luxembourg for clients in the regulated financial services and insurance industries. 'This collaboration offers a landmark opportunity to accelerate the adoption of AI across the financial and insurance markets in Luxembourg and beyond,' said Olivier Posty, Head of France and Luxembourg, NTT DATA. 'Together, we're creating a full-stack platform that is ready to host critical financial applications.'

DXB sees record-breaking 46M passengers in first half of 2025
DXB sees record-breaking 46M passengers in first half of 2025

Filipino Times

time2 hours ago

  • Filipino Times

DXB sees record-breaking 46M passengers in first half of 2025

Dubai International Airport (DXB) recorded its busiest first half on record, welcoming 46 million passengers between January and June 2025. The figure marks a 2.3 percent increase from the same period last year, despite temporary airspace disruptions in May and June. India remained DXB's top country market with 5.9 million passengers, followed by Saudi Arabia with 3.6 million, the United Kingdom with 3.0 million, Pakistan with 2.1 million, and the United States with 1.6 million. Meanwhile, London led as the busiest city destination with 1.8 million passengers. Other top city routes included Riyadh with 1.5 million, Mumbai with 1.2 million, Jeddah and New Delhi with 1.1 million each, and Istanbul with 982,000. 96 million passengers projected for 2025 The airport handled 222,000 flights during the first six months of the year. Monthly passenger traffic averaged 7.7 million, while daily volumes reached 254,000. January posted the highest monthly total, setting a new record with 8.5 million passengers. In the second quarter alone, 22.5 million travelers passed through DXB, reflecting a 3.1 percent increase year-on-year. April was the busiest month in the quarter with 8 million passengers. Dubai Airports CEO Paul Griffiths said DXB is on track to handle 96 million passengers by the end of 2025. 'DXB's continued growth through a period of regional challenges highlights the strength of Dubai and the UAE, the agility of our operations, and the commitment of our airport community. The oneDXB mindset once again enabled us to manage disruption while elevating the guest experience and ensuring seamless global connectivity,' he said through WAM. He added that traffic is expected to rise further in the second half of the year, with an increase during the late-summer travel peak and a full winter season of global events. The Dubai Airshow 2025 is also expected to boost activity and highlight advancements in aviation and aerospace. Fast processing and low mishandled baggage rates DXB currently connects to more than 269 destinations across over 107 countries and is served by more than 92 international carriers. Efficiency across airport checkpoints remained high in the first half. Nearly all departing passengers cleared passport control in under 10 minutes, arrivals in under 15 minutes, and security checks in under 5 minutes. Moreover, about 41.8 million pieces of baggage were also processed, with 91 percent delivered within 45 minutes of arrival. The rate of mishandled baggage was low at two bags per 1,000 passengers, well below the industry average. Cargo traffic also showed a slight increase, with more than 1 million tonnes handled. The airport is projected to process over 85 million bags by the end of the year, surpassing the 2024 record of 81.2 million.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store