Kuwait oil price down 64 cents to $68.59 pb -KPC
Globally, price of Brent crude dropped by 37 cents to USD 67.11 pb, while West Texas Intermediate rose by 34 cents to USD 65.45 pb.
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Khaleej Times
an hour ago
- Khaleej Times
A CISO's guide to securing XIoT in the Middle East
The rapid expansion of the Internet of Things (IoT) is reshaping the physical and digital contours of modern infrastructure. From biometric gates at international airports to infusion pumps at hospitals, from ubiquitous surveillance devices to office peripherals of a mundane kind — the networked device universe is ubiquitous and exposed. This interconnected network offers clear functional benefits. However, as more devices communicate with each other, there are more entry points for cyberattacks. The numbers are staggering. The Middle East IoT market is projected to grow from $43.99 billion to $241.65 billion by 2030, a 449 per cent increase. Saudi Arabia alone commands nearly 40 per cent of the regional market, generating $10.22 billion in revenues. Yet, as organisations embrace XIoT (extended Internet of Things), security risks escalate. The Middle East saw a 211 per cent rise in Distributed Denial of Service (DDoS) attacks in 2024, while the average cost of a cyber breach now stands at $8.75 million. Mega-breaches — those affecting 50 to 60 million records — have soared to $375 million, up $43 million from 2023. To fully benefit from the tremendous value of IoT devices, they need to be secured and managed effectively. Proper security management ensures devices are protected from cyber threats, minimising vulnerabilities that attackers exploit. This involves comprehensive visibility into device usage, regular updates to firmware, strong authentication methods, and proactive monitoring to detect and respond swiftly to security incidents. Organisations should invest in robust cybersecurity frameworks to harness IoT's full potential safely and sustainably. For the modern CISO, the mandate extends beyond protection to building a resilient cybersecurity strategy — one that ensures rapid detection, response, and recovery. In today's threat landscape, resilience isn't optional; it's a strategic necessity for business continuity and trust. 1. Know what you own: The XIoT visibility challenge You cannot protect what you cannot see. Many organisations have thousands of connected devices, yet few have a complete inventory. From smart cameras to industrial sensors, these silent operators are often neglected, leaving security gaps. S teps to take: • Catalogue every device – Identify all XIoT endpoints across departments, from IT to operational technology (OT). • Assess security measures – Check for outdated firmware, default passwords, and unpatched vulnerabilities. • Engage stakeholders – Hold cross-functional meetings with IT, OT, and physical security teams to ensure all devices are accounted for. Visibility is the foundation of security. Without a real-time asset inventory, XIoT security is a guessing game. 2. Automate security fixes: Stay ahead of the threats Manual patching is a losing battle. With multiple vendors, different operating systems, and legacy devices, keeping up with security updates is impossible without automation. What to automate: • Eliminate default logins – Many devices ship with 'admin/admin' credentials. These must be changed immediately. • Firmware updates – Some vulnerabilities, like those in Z-Wave chipsets, require urgent patching. If updates are unavailable, devices must be segmented. • Standardise security settings – Enforce encryption, secure boot, and endpoint monitoring across all connected devices. • Pro tip: Not all XIoT devices can be patched. If an update is unavailable, limit access and segment networks to reduce risk. 3. Continuous monitoring: The watchtower approach Static defences are not enough. Attackers are evolving, and so must security teams. Continuous monitoring provides real-time visibility into suspicious behaviours, unauthorised access attempts, and misconfigured devices. Best practices: • Monitor device behaviour – Use AI-driven analytics to flag unusual activity, such as an XIoT device suddenly communicating with an unknown server. • Establish incident workflows – Ensure that alerts from security operation centers (SOCs) reach the right teams in real time — whether IT, OT, or physical security. • Leverage threat intelligence – Study patterns of attempted intrusions to adjust defenses accordingly. XIoT security is not just about detection — it's about rapid response. A CISO's playbook for XIoT security Securing XIoT in the Middle East demands a dynamic, strategic approach that matches the scale and speed of the growing threat landscape. The region's digital economy is accelerating, and the volume of connected devices is rapidly multiplying. To stay ahead, CISOs must proactively identify assets, automate defences, consistently monitor threats, and swiftly enforce response frameworks. Speed and scalability are critical organisations must transition swiftly from reactive strategies to proactive, automated, and ultimately autonomous security operations. Ultimately, it is leadership, not just technology, that drives robust xIoT security. By positioning cybersecurity as a long-term strategic investment, organisations can protect infrastructure, ensure operational resilience, maintain trust, and unlock the benefits of digital transformation safely. In our increasingly connected world, proactive protection is no longer optional — it's the smarter path forward. The writer is Middle East & Africa Vice President at Phosphorus Cybersecurity.
Khaleej Times
an hour ago
- Khaleej Times
Elevate & Ennismore partner to bring $500 million Mondrian Beachfront Residence to Al Marjan Island
ELEVATE, the visionary lifestyle real estate brand launched in the UAE by global development firm One Group and Ennismore, the fastest-growing lifestyle and leisure hospitality company, has signed an agreement to introduce the region's first-ever beachfront Mondrian residences in the UAE. The landmark $500 million project will be situated on the rapidly growing Al Marjan Island, marking a pivotal moment in the evolution of branded living experiences on the island and in the region. The grand opening is anticipated to be in Q4 2028. The signing took place between Zeeshan Shah, Founder & Chairman, ELEVATE and Louis Abboud, Regional Head of Lifestyle Collective IMEAT, Ennismore, in the presence of Arch. Abdulla Al Abdouli, CEO of Marjan. This partnership unites the strengths of two globally respected leaders, collaborating to champion bold design, authentic community experiences, and purposeful living. ELEVATE is setting new benchmarks for intentional and design-forward living. Ennismore is a powerhouse in luxury lifestyle hospitality, comprising a collective of 16 globally celebrated brands and two F&B groups—including Delano, SLS, 25hours Hotels, SO/, and Rikas—as well as over 500 restaurants and bars. Commenting on the signing, Arch. Abdulla Al Abdouli, CEO of Marjan said: 'We are delighted to welcome the Mondrian Residences to Al Marjan Island as part of our ongoing commitment to elevating Marjan's global stature, which is increasingly being famed as a lifestyle-led development. This collaboration between ELEVATE and Ennismore adds a new layer of depth and creativity to our growing portfolio of branded residences on the island. We are proud to welcome Mondrian Beach Residences to Al Marjan Island, which is slated to mark a global expansion for the hospitality giant, showcasing the draw and relevance of Marjan today'. With this project, ELEVATE reaffirms its long-term commitment to the UAE, supported by a $1 billion development pipeline scheduled for the next 12 months. Zeeshaan Shah, Chairman of One Group and Founder & CEO of ELEVATE, said: 'We're very proud to be bringing the first-ever beachfront Mondrian residences to the UAE in collaboration with Ennismore. We carefully selected Mondrian for this location as the brand is the epitome of what Marjan Island is becoming. Renowned for being at the forefront of lifestyle, art and culture, Mondrian's are icon's in every city they're in whether it's Los Angeles, Cannes or Ibiza and this will undoubtedly be the icon of Marjan Island'. The Mondrian Al Marjan Island Beach Residences will deliver a five star hospitality-infused residential experience, featuring private beach access, signature design elements, wellness-centric amenities, and curated cultural programming. Mondrian is one of Ennismore's most iconic brands, celebrated for its progressive edge in art, fashion, and urban living. With flagship properties in cities such as Los Angeles, Mexico, Ibiza, Doha, Singapore, and Seoul, Mondrian's branded residential arrival in the UAE signals a new era for luxury beachfront living. Louis Abboud, Regional Head of Lifestyle Collective IMEAT at Ennismore, said, 'We are excited to introduce this new and exciting Mondrian residential project to the UAE in collaboration with ELEVATE. Mondrian is a symbol of creative expression, and Al Marjan Island provides the perfect canvas. This development will bring our signature energy to a thriving new destination and redefine what modern beachfront living can feel like.' Backed by a global real estate transaction record exceeding $2.5 billion, One Group's expansion into the UAE via ELEVATE is not just strategic - it's personal. Shah, who began his career in the UAE nearly two decades ago, sees the country as a natural extension of the Group's lifestyle-driven ethos. For ELEVATE, this launch is only the beginning of the UAE chapter. With several projects in the pipeline across the UAE, the brand is poised to redefine success and luxury, not by excess, but through purposeful design, community, and well-being. Shah said: 'This partnership marks our development debut in the region, and we are proud to start by setting a new benchmark in branded beachfront living. I'm deeply grateful to the trusted partners and supporters who stood by this vision from the start - your belief and commitment have been paramount in bringing it to life.' Ennismore's branded residential properties, including Mondrian Al Marjan Island Beach Residences, are supported by Accor One Living, an industry-first 360° platform focused on developing, designing, and operating mixed-use projects and branded homeowner communities. Through Accor One Living, homeowners, guests, and partners are connected to Accor's diverse ecosystem of brands, expertise, and solutions, creating a constant flow of new opportunities to live, work, and play.
Khaleej Times
an hour ago
- Khaleej Times
The rise of homegrown hospitality: Rashed Al Tayer and Outset lead the movement
In a city known for importing some of the world's most recognisable hospitality brands, Rashed Al Tayer is quietly building something different and far more personal. Through Outset, his hospitality group, he's cultivating a new generation of homegrown dining concepts that reflect the rhythm, tastes, and creative spirit of the communities they serve. For Rashed, 'homegrown' isn't just a buzzword . 'An experience made by local residents, for local residents,' he explains. 'Every Outset concept is built on that ethos. From our first project, Neighbors which was all about being your friendly neighbourhood bakery, to our latest restaurant, Oppidan, which literally means a 'resident of a town', we always want to create something that belongs to the community it serves.' That ethos extends beyond the food and into every layer of the guest experience, from the local artists featured on the walls to the design studios that shape each venue's unique aesthetic. As global imports continue to saturate the city's dining scene, Rashed sees a clear shift in appetite. 'Dubai is tired of constantly importing concepts. There's a move toward supporting ideas that are born here, by and for our own communities. It just feels more authentic,' he says. It's this sincerity found in the food, the service, and the intention that draws loyal regulars across Outset's portfolio, from the laid-back charm of Boston Lane to the nature-embraced tranquillity of Terra Eatery. Each venue under Outset shares a common thread: premium food and drink in a casual yet beautifully considered setting. 'They're places you can come to effortlessly,' Rashed says. 'Skip the city traffic, avoid the weekend chaos, and still expect a 10/10 experience.' The result is a new archetype of hospitality less flashy, more soulful. The group's latest opening, Oppidan, is set within a quiet villa on Al Wasl Road, and offers a fresh take on Italian home-style cooking, inspired by Rashed's own travels and favourite dishes. 'Italian food is my favourite! I always knew I wanted to open an Italian place, but I wanted it to feel approachable and real.' With a focus on quality ingredients and in-house pasta making, Oppidan delivers comfort without compromise. Looking ahead, Outset's ambitions continue to evolve. The launch of CMPLX, a lifestyle hub in Al Quoz marks a bold next step. And with revamps underway for Boston Lane and Neighbors, as well as a new coffee roastery and wellness initiatives, Outset is building more than just restaurants it's building cultural anchors. 'I think we'll see more crossover between hospitality and other industries,' Rashed says of the future. 'The goal is always to grow in ways that feel natural to our lifestyle, in respect to the things we love.'
