Riyadh Gathers Int’l Cybersecurity Experts in Global Forum

Riyadh Governor Prince Faisal bin Bandar bin Abdulaziz (Asharq Al-Awsat)
Riyadh Governor Prince Faisal bin Bandar bin Abdulaziz (Asharq Al-Awsat)
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Riyadh Gathers Int’l Cybersecurity Experts in Global Forum

Riyadh Governor Prince Faisal bin Bandar bin Abdulaziz (Asharq Al-Awsat)
Riyadh Governor Prince Faisal bin Bandar bin Abdulaziz (Asharq Al-Awsat)

An international gathering on cybersecurity opened in the Saudi capital, Riyadh, on Wednesday, bringing together representatives of global bodies and firms from some 120 countries.

The event, sponsored by Saudi king Salman bin Abdulaziz, was inaugurated by Prince Faisal bin Bandar bin Abdulaziz, the Governor of Riyadh, for its third edition, under the theme of “Charting Shared Priorities in Cyberspace.”

Prince Faisal emphasized the rapid evolution in the field of cybersecurity in today’s world, underscoring the urgent need for enhanced cooperation and collaborative efforts to address it.

He stressed the importance of leveraging the expertise of international participants, including decision-makers and specialists from around the globe, to yield valuable insights and share international experiences related to critical and strategic cyber matters.

The ultimate goal is to create a secure and trusted cyberspace that fosters progress, innovation, growth, and prosperity for all nations.

Addressing the gathering, Saudi Arabia's cybersecurity chief Majed Al-Mazyad said the event represents a platform for global bodies to come together in a bid to boost cybersecurity cooperation, which in turn, proves beneficial for the international community as a whole.

It is noteworthy that the two-day forum is being organized by the National Cybersecurity Authority and the Saudi Information Technology Company (SITE).

It also features over 150 international speakers.

Eminent decision-makers, CEOs of international organizations related to the field, representing various government and academic sectors, as well as leading global companies from over 120 countries, are in attendance.

The convening of this forum reaffirms Saudi Arabia’s global leadership in the field of cybersecurity, given the achievements of its pioneering experience at the local, regional, and international levels.

The Saudi model in cybersecurity has become a successful and internationally recognized benchmark.

The Global Cybersecurity Forum is a global platform that caters to decision-makers, experts, and professionals involved in critical and strategic cybersecurity issues.

It aims to provide an expansive opportunity for knowledge transfer, expertise exchange, and collaboration exploration on strategic cybersecurity topics.

The Forum will map shared priorities in cyberspace through discussions and sessions on strategic topics related to cybersecurity, focusing on five sub-themes: Cyberspace amidst polycrisis, Cyber growth unlocked, Across cyber divides, Inside cyber minds, and emerging cyber horizons.



Oil Slips on Sverdrup Field Restart, Geopolitical Fears Support

FILE PHOTO: Oil pump jacks are seen at the Vaca Muerta shale oil and gas deposit in the Patagonian province of Neuquen, Argentina, January 21, 2019.  REUTERS/Agustin Marcarian/File Photo
FILE PHOTO: Oil pump jacks are seen at the Vaca Muerta shale oil and gas deposit in the Patagonian province of Neuquen, Argentina, January 21, 2019. REUTERS/Agustin Marcarian/File Photo
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Oil Slips on Sverdrup Field Restart, Geopolitical Fears Support

FILE PHOTO: Oil pump jacks are seen at the Vaca Muerta shale oil and gas deposit in the Patagonian province of Neuquen, Argentina, January 21, 2019.  REUTERS/Agustin Marcarian/File Photo
FILE PHOTO: Oil pump jacks are seen at the Vaca Muerta shale oil and gas deposit in the Patagonian province of Neuquen, Argentina, January 21, 2019. REUTERS/Agustin Marcarian/File Photo

Oil slipped on Tuesday pressured by the restart of production at Norway's Johan Sverdrup oilfield, although investor caution arising from fears of an escalation in the Russia-Ukraine war limited the decline.
Equinor has resumed partial production from the oilfield, Western Europe's largest, following a power outage. An outage at the North Sea field helped prices to climb by over 3% on Monday, Reuters reported.
Brent crude futures were down 45 cents, or 0.6%, to $72.85 a barrel by 0915 GMT, while US West Texas Intermediate crude futures slipped by 46 cents, or 0.7%, to $68.70.
"I guess the partial restart of the Sverdrup field is the driver of the setback, as well as a slightly stronger US dollar," said Giovanni Staunovo, analyst at UBS.
The US dollar edged up on Tuesday to within striking distance of its one-year high. A strong dollar makes commodities like oil more expensive for other currency holders and tends to weigh on prices.
Another continuing outage provided support. Kazakhstan's biggest oilfield, Tengiz, has reduced oil output by 28% to 30% for repairs which are expected to be completed by Saturday, the country's energy ministry said.
A rise in geopolitical tensions also supported prices.
In a significant reversal of policy, US President Joe Biden's administration allowed Ukraine to use the U.S.-made weapons to strike deep into Russia, two US officials and a source familiar with the decision said on Sunday.
The Kremlin said on Monday that Russia would respond to what it called a reckless decision by the Biden administration, having previously warned that such a decision would raise the risk of a confrontation with the US-led NATO alliance.
Investors are wary, said Toshitaka Tazawa, an analyst at Fujitomi Securities, as they are "assessing the direction of the Russia-Ukraine war after the weekend's escalation".
While oil's outright price has found support this week, the market structure has weakened. US crude flipped to contango for the first time since February on Monday in a sign that supply tightness was easing.