عربي English Türkçe اردو فارسى
Logo
Latest News
Technology

Saudi Arabia’s CITC Hosts 1st RegTech Symposium with Participation of Global Experts

Among other things the symposium aims to shed light on the role and importance of regulatory technologies in governance
Among other things the symposium aims to shed light on the role and importance of regulatory technologies in governance
TT
20
TT

Saudi Arabia’s CITC Hosts 1st RegTech Symposium with Participation of Global Experts

Among other things the symposium aims to shed light on the role and importance of regulatory technologies in governance
Among other things the symposium aims to shed light on the role and importance of regulatory technologies in governance

Saudi Arabia’s Communications and Information Technology Commission (CITC) will host the first Regulatory Technologies (RegTech) symposium on Monday.

The symposium aims to shed light on the role and importance of regulatory technologies in governance, risk, and compliance management. It discusses a multitude of topics that range from the roles played by companies and institutes in regulation and oversight to the promising opportunities for startups and entrepreneurs.

The symposium will comprise lively panel discussions and engaging presentations, which in their entirety will lay the foundation for what RegTech is, examine the most promising opportunities for RegTech in the Kingdom, and sneak a peek into the latest global practices in RegTech. This will take place in the presence of some internationally-acclaimed experts as well as compliance and risk management specialists from various companies and regulatory bodies in the Kingdom.

Within its wide spectrum of topics, the symposium will put emerging and advance technologies under the spotlight for the purposes of emphasizing the role of those technologies in improving regulatory and supervisory performance, contributing to compliance, alleviating regulatory burdens, and increasing operational efficiency.

The event will also survey the most prominent RegTech solutions and emerging companies.

Most Viewed

 
Technology

Microsoft Pledges to Protect European Operations, Unveils Data Center Expansion

A Microsoft logo is pictured on a store in the Manhattan borough of New York City, New York, US, January 25, 2021. (Reuters)
A Microsoft logo is pictured on a store in the Manhattan borough of New York City, New York, US, January 25, 2021. (Reuters)
TT
20
TT

Microsoft Pledges to Protect European Operations, Unveils Data Center Expansion

A Microsoft logo is pictured on a store in the Manhattan borough of New York City, New York, US, January 25, 2021. (Reuters)
A Microsoft logo is pictured on a store in the Manhattan borough of New York City, New York, US, January 25, 2021. (Reuters)

Microsoft pledged Wednesday to fight any US government order to halt data center operations in Europe as it sought to soothe concerns among European customers that trans-Atlantic tensions would lead to service disruptions.

The company's president, Brad Smith, said it's not something that officials are talking about in Washington, D.C. but it is a “real concern” for Microsoft's customers across Europe, which include governments.

President Donald Trump has stoked tensions between the US and Europe with his tariff-fueled trade war, and alarmed European leaders with policy changes, including pausing intelligence sharing with Ukraine, that throw into doubt his administration's commitment to the trans-Atlantic relationship, The AP news reported.

Smith, speaking at an event in Brussels, tried to allay concerns as he announced that the company was expanding data center operations across Europe.

“What we want Europeans to know is that they can count on us,” he said in a speech.

“In the unlikely event we are ever ordered by any government anywhere in the world to suspend or cease cloud operations in Europe, we are committing that Microsoft will promptly and vigorously contest such a measure using all legal avenues available, including by pursuing litigation in court,” Smith wrote in a Wednesday blog post.

He noted that Microsoft has experience fighting lawsuits from the previous Trump administration as well as from former President Barack Obama’s administration.

“If we ever find ourselves losing we will put in place business continuity arrangements” that include storing computer code in Switzerland that European partners can access, he said.

Microsoft is making five digital commitments to Europe, including increasing its data center capacity by 40 in 16 countries over the next two years, Smith said. The expansion will cost tens of billions of dollars annually. Smith declined to be more specific about the cost when asked by reporters.

The expansion comes amid calls for Europe to assert tech and data sovereignty by weaning itself off reliance from big US cloud data service providers, including Microsoft, Amazon and, to a lesser extent, Google.

“Given recent geopolitical volatility, we recognize that European governments likely will consider additional options,” and Microsoft is committed to collaborating with European companies, Smith said.