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Saudi Arabia to Host MENA’s Largest Cybersecurity Event

Saudi Arabia develops cybersecurity capabilities to limit cyberattacks (Asharq Al-Awsat)
Saudi Arabia develops cybersecurity capabilities to limit cyberattacks (Asharq Al-Awsat)
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Saudi Arabia to Host MENA’s Largest Cybersecurity Event

Saudi Arabia develops cybersecurity capabilities to limit cyberattacks (Asharq Al-Awsat)
Saudi Arabia develops cybersecurity capabilities to limit cyberattacks (Asharq Al-Awsat)

Saudi Arabia will host the international Black Hat event in mid-November, the largest cybersecurity event in the Middle East and North Africa region (MENA), bringing together the most important cybersecurity experts worldwide.

The event is organized in cooperation between the Saudi Federation for Cybersecurity, Programming, and Drones (SAFCSP) and Informa Tech, in partnership with the General Entertainment Authority (GEA), as part of the Riyadh Season 2022 activities.

The three-day event starts on Nov. 15 at the Riyadh Front Center.

The Black Hat event brings together a group of the most prominent experts and speakers in the field of cybersecurity, with more than 200 officials of the most important authorities in the world.

Black Hat includes training courses with accredited certificates, sessions, workshops, and several competitions with prizes amounting to more than $266,000.

The event targets experts, amateurs, and those interested in cybersecurity.

It also includes an activity area sponsored by NEOM. It has a “Capture the Flag” competition, where competitors take on many challenges to gather the largest number of flags, such as exploiting the loopholes of websites, digital forensic analysis, reverse engineering, encryption, and others.

The competition includes the participation of 1,000 contestants representing 200 teams from 35 countries, competing over three days for the competition prizes, amounting to $186,000.

The activity area also includes the “Gap Rewards Platform” competition, which motivates participants to discover security gaps in actual companies and the total prizes totaling $80,000.

The activity area also includes the “Cyber Village,” with six different challenges, including the car hacking challenge, which aims to educate security experts about the functions of vehicle systems and provide them with practical experience.

The second is the unlocking challenge, a physical security experience where visitors can identify weaknesses in different locks.

The room escape challenge is based on team cooperation, where the contestants solve a series of puzzles within a limited time frame.

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Yemen’s Fragile Economy Feels the Heat of Iran-Israel Conflict

Fears mount over the impact of military escalation on the Yemeni currency, which has recently seen a rapid decline (AFP). 
Fears mount over the impact of military escalation on the Yemeni currency, which has recently seen a rapid decline (AFP). 
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Yemen’s Fragile Economy Feels the Heat of Iran-Israel Conflict

Fears mount over the impact of military escalation on the Yemeni currency, which has recently seen a rapid decline (AFP). 
Fears mount over the impact of military escalation on the Yemeni currency, which has recently seen a rapid decline (AFP). 

The ripple effects of the escalating conflict between Iran and Israel are being felt in Yemen’s fragile economy. The already-depreciated Yemeni rial has fallen further, fuel prices have surged following a government decision, and fears of wider inflation loom over one of the region’s most vulnerable economies.

Last week, the exchange rate for the US dollar crossed 2,750 Yemeni rials before slightly retreating. Economists warn the rial will likely continue to weaken amid broader regional instability. In response, Prime Minister Salem bin Braik announced an emergency 100-day plan to stabilize the economy and ensure basic state obligations, including public sector salaries.

The government also introduced new fuel pricing, raising costs by up to $1 per 20-liter container of gasoline and diesel. This marks the fourth fuel price hike this year, compounding pressure on Yemen’s already burdened consumers.

With Yemen importing over 95% of its goods, any increase in global shipping costs or insurance premiums immediately impacts domestic prices.

Economist Rashid Al-Ansi explained to Asharq Al-Awsat that the cost of food, fuel, and other essential goods is rising due to the weakened currency and regional tensions. Unlike neighboring countries, he added, Yemen lacks the fiscal space and policy flexibility to absorb such shocks.

Adding to the strain, foreign currency reserves are being depleted as locals rush to convert their savings into dollars or gold amid fears of an open war between Israel and Iran. This has raised concerns of further rial depreciation and capital flight, according to economist Fares Al-Najjar.

Al-Najjar also warned that remittance flows - Yemen’s main source of foreign currency - may decline due to global uncertainty, reducing the central bank’s ability to stabilize the market. The government is already struggling to fund basic services, including electricity in Aden and water supply in Taiz.

Experts are particularly concerned about potential disruption to maritime trade. If military tensions spill over into the Red Sea or Gulf of Aden, Yemen’s surrounding waters could be labeled “high-risk zones,” driving shipping and insurance costs up by as much as 300%. This would cripple import flows and make oil exports - Yemen’s last lifeline for foreign currency - nearly impossible.