Dubai records 10% energy demand growth, 10% peak load increase

DUBAI, Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (DEWA), has announced an increase of around 10 percent in energy demand growth and 10 percent rise in the peak load of electricity in Dubai until the end of May 2021 compared to the same period in 2020.

Demand for energy increased in the first 5 months of 2021 to 16,467 gigawatt hours (GWh) compared to 14,988 GWh in the same period of 2020. Peak load also increased in Dubai from January until the end of May 2021 to 7,966 megawatts, compared to 7,248 megawatts in the same period of 2020.

“The increase in energy demand and peak load in Dubai is a testament to the economic recovery and the comeback of various vital activities in the Emirate. It indicates that the UAE is moving steadily towards promoting economic prosperity and decent living for all citizens and residents. In line with the forward-looking vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, to achieve comprehensive and sustainable development in Dubai, we continue to increase our installed capacity of electricity and water, as well as the capacity of the transmission and distribution networks,” said Al Tayer.

“DEWA’s installed capacity has reached 12,900 megawatts of electricity and 490 million imperial gallons per day (MIGD) of desalinated water,” Al Tayer added. “It has achieved very competitive results surpassing the private sector and similar top utilities in Europe and America in terms of efficiency and reliability. DEWA has reduced losses in electricity transmission and distribution networks to 3.3 percent, compared to 6-7 percent recorded in Europe and the USA. Water network losses decreased to 5.1 percent, compared to 15 percent in North America.”

Source: Emirates News Agency

AED54.8 bn investments by UAE banks in held-to-maturity, debt securities, equities, other vehicles in four months

ABU DHABI, The UAE-based banks hiked by AED54.8 bn their investments in held-to-maturity securities, debt securities, equities and other vehicles during the first four months of 2021, statistics by the Central Bank of UAE have showed.

This increased to AED510.6 bn the cumulative total of these investments by the end of April, a growth of 12 percent from AED455.8 bn by the end of December 2020.

According to the apex bank, the UAE lenders accelerated investments in debt securities by AED9.3 bn to a total of AED299.8 bn, during the reference period, which accounts for 58.7 percent of the UAE banks’ total investments by the end of April.

Their held-to-maturity securities amounted to AED154.6 bn by the end of the reference period, AED43.2 bn up -38.8 percent- from the end of last year.

Trading in equities climbed to AED9.6 bn from January through April, 2021, compared to AED9.2 bn in December, 2020. Other investment instruments valued AED46.6 bn by end of April.

Source: Emirates News Agency

Global CISO’s build strategies for ‘guarding the digital vault’ at GISEC 2021

DUBAI, International chief information security officers (CISOs) met to discuss and map out strategies to protect financial institutions from cyberattacks on the final day of GISEC 2021, the Middle East’s most influential and connected cybersecurity event at Dubai World Trade Centre (DWTC).

The main stage discussion, chaired by Nathan Swain, former Security Advisor for the United Kingdom Government, explored different tactics in dealing with cyber threats.

Mohammed Darwish Aza, Chief Information Security Officer, Emirates NBD, said, “Threat intelligence is a key indicator of every feed that you have in the organisation. It helps us make decisions from a strategic perspective, and I believe one of the spaces that needs to improve is intelligence around third-party suppliers – seeing what their posture is on a day-to-day basis. Conducting a threat audit every year will not help you to understand what the overall defence is for your suppliers, and what the latest attack patterns are.”

Viktor Polic, CISO, Head of Information Security and Assurance Services, International Labour Organisation, said that education would be critical.

He said, “If you look up at the sky at night, you see new satellites, which will one day be connecting the remaining 4 billion people on the earth, who are without internet – hyper-connectivity and Starlink. With people constantly trying to bridge the digital divide, even with AI and 6G, I think we are going to see quick adoption. We need to match innovation in technology with innovation in people.”

A GISEC Inspire panel discussion highlighted the overarching challenges women face in the world of cybersecurity and explored what still needs to change in the industry.

Hessa Salem Al Nadhi, CISO, Department of Culture and Tourism – Abu Dhabi, highlighted the need for governments and the private sector to encourage women of all ages to explore careers in cybersecurity.

“The majority of women don’t consider cybersecurity as a career because they are not aware of the many opportunities in the field,” said Al Nadhi. “Leaders and businesses need to empower both genders to enter the cyber world, whilst helping develop the skills of the younger generations and helping to close both the gender and the skills gap in the sector.”

Inass Farouk, Marketing Director, Microsoft UAE, said that only 24 percent of the global cybersecurity workforce is made up of women, according to the latest cybersecurity workforce study by (ISC)2, which shows that there is still a lot to do to attract more women into the industry.

Visitors to the GISEC main stage heard from Sudhakar Ramakrishna, President and CEO of SolarWinds, who discussed how the firm learned that threat actors were in its systems eight months before December 2020, when it was reported globally that the Orion security breach allowed thousands of its clients to be hacked.

According to Ramakrishna, attackers managed to get inside SolarWinds’ build environment and place a backdoor in 2019, which was then wrapped into its legitimate software without detection. The updated software was distributed to as many as 18,000 organisations leading to follow-on attacks on about 100 companies and nine government agencies.

“As I am sure you will attest from certain recent attacks, no single company is immune to these attacks, especially if they are to be carried out by nation-states that are incredibly patient, incredibly persistent and who have many more resources available than any one company must protect itself.”

Captain Khalid Tahlak, Head of Social Crime, Dubai Police, briefed GISEC visitors on how the public can safeguard themselves against a range of online scams. He highlighted how bogus charity campaigns, online blackmail and phishing attacks were all commonly used to catch out unwitting citizens. Tahlak asked the public to report cybercrime incidents at www.ecrime.ae.

Source: Emirates News Agency