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Saudi Arabia Highlights Cybersecurity Achievements, Urges Global Collaboration at UN Debate

A general view of Riyadh, Saudi Arabia. (SPA)
A general view of Riyadh, Saudi Arabia. (SPA)
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Saudi Arabia Highlights Cybersecurity Achievements, Urges Global Collaboration at UN Debate

A general view of Riyadh, Saudi Arabia. (SPA)
A general view of Riyadh, Saudi Arabia. (SPA)

Saudi Arabia's Ambassador and Permanent Representative to the UN Dr. Abdulaziz Alwasil emphasized the critical need for a secure and reliable cyberspace that fuels growth and prosperity.

Speaking at a day-long UN Security Council debate on evolving cyberspace threats, Alwasil underscored the importance of prioritizing cybersecurity efforts globally, reported the Saudi Press Agency on Saturday.

He stressed that robust cybersecurity is essential for safeguarding nations' vital interests and national security.

Alwasil advocated for strengthened international cooperation in cybersecurity and urged combined efforts to mitigate cyber risks. He stressed the need for the international community to adopt a serious and practical approach to unifying global efforts against cyberspace threats through relevant UN committees and specialized bodies.

Moreover, he highlighted the significant and rapid progress achieved in Saudi Arabia's cybersecurity sector, which aligns with the goals outlined in Vision 2030.

The Kingdom has embarked on a transformative journey to develop the "Saudi model" in cybersecurity based on centralized governance and decentralized operability, he went on to say.

Alwasil detailed the Kingdom's accomplishments in cybersecurity, including achieving a global ranking of second, and first in the Arab world, the Middle East, and Asia according to the International Telecommunication Union (ITU) Global Cybersecurity Index.

The Kingdom has also secured second place globally in 2022 and 2023 in the World Competitiveness Yearbook's cybersecurity indicator, published by the Swiss-based Institute for Management Development (IMD). This year, Saudi Arabia solidified its global leadership in cybersecurity by claiming the top spot in the World Competitiveness Yearbook.

Alwasil said the Kingdom's establishment of the Global Cybersecurity Forum (GCF), a Riyadh-based organization dedicated to bolstering cybersecurity on an international scale.

Alwasil emphasized Saudi Arabia's commitment to fostering regional cooperation in boosting cybersecurity. This commitment is exemplified by the establishment of the Gulf Cooperation Council (GCC) Cybersecurity Ministerial Committee and the League of Arab States (LAS) Arab Cybersecurity Ministerial Council, both spearheaded by Saudi Arabia.

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Dell Forecasts Downbeat Fourth-Quarter Revenue on PC Weakness

The logo of Dell Technologies at the Milipol Paris, the worldwide exhibition dedicated to homeland security and safety, in Villepinte near Paris, France, November 15, 2023. (Reuters)
The logo of Dell Technologies at the Milipol Paris, the worldwide exhibition dedicated to homeland security and safety, in Villepinte near Paris, France, November 15, 2023. (Reuters)
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Dell Forecasts Downbeat Fourth-Quarter Revenue on PC Weakness

The logo of Dell Technologies at the Milipol Paris, the worldwide exhibition dedicated to homeland security and safety, in Villepinte near Paris, France, November 15, 2023. (Reuters)
The logo of Dell Technologies at the Milipol Paris, the worldwide exhibition dedicated to homeland security and safety, in Villepinte near Paris, France, November 15, 2023. (Reuters)

Dell forecast fourth-quarter revenue below Wall Street expectations on Tuesday, weighed down by weaker demand for its traditional PCs and competition from rival server makers, sending its shares down more than 10% in extended trading.

Despite booming demand for the company's AI-optimized servers used to handle large artificial intelligence workloads, Dell's PC segment has been grappling with stiff competition from rivals and weak consumer spending amid an uncertain economy.

Enterprise customers are being mindful of their PC and IT spending in the short term, Dell executives said on a post-earnings conference call, adding that the company's consumer business was weaker than expected.

Dell forecast fourth-quarter revenue between $24 billion and $25 billion. The average analyst estimate is $25.57 billion, according to data compiled by LSEG.

"The entire PC market is in a transition period and moving towards on-device AI functionality which still isn't that defined and is expected to solidify in 2025," Gadjo Sevilla, senior analyst for AI and Tech at Emarketer, said.

Revenue from Dell's client solutions group, which houses its PC business, came in at $12.13 billion, below expectations of $12.43 billion.

Rival PC maker HP also provided a weak first-quarter profit forecast, while electronics retailer Best Buy trimmed its annual forecasts against the backdrop of weak consumer electronics demand.

Investors are also keenly eyeing Dell's costs after the company flagged in May that higher expenses to build AI-heavy servers and competitive pricing would hurt its margins.

"Interest in our portfolio is at an all-time high, driving record AI server orders demand of $3.6 billion in Q3 and a pipeline that grew more than 50%," Dell's Chief Operating Officer Jeff Clarke said on Tuesday.

Revenue from the company's infrastructure solutions group unit, which houses its AI servers business, rose 34% to $11.37 billion and beat estimates.

Dell reported revenue of $24.37 billion in the third quarter, missing estimates of $24.67 billion.