The Saudi stock exchange (Tadawul) recently celebrated the listing of the National Company for Learning and Education (NCLE) on the main market. The event was held in the presence of Mohammed Al-Rumaih, chief of markets at Tadawul, and Khalid Al-Khudair, vice chairman and managing director of NCLE.
In his speech, Al-Rumaih said: “The year 2018 was an exceptional year for the Saudi stock exchange with many achievements including the status upgrade to an emerging market through MSCI, FTSE Russell and S&P indices along with the plans to launch a derivatives market and a joint tradeable index with MSCI.”
He concluded his speech by congratulating NCLE’s management for the successful listing.
Al-Khudair emphasized on the significance of the listing, pointing out that the proceeds will help in financing new educational complexes planned in several areas around the Kingdom, which will amplify the company’s capacity by 2021.
“I would like to thank the Capital Market Authority (CMA) and Tadawul for their support throughout the listing journey,” Al-Khudair said.
The National Company for Learning and Education is the second company to be listed on the main market this year, joining a total of 190 companies listed on Tadawul’s main market.
Saudi stock exchange celebrates listing of NCLE
Saudi stock exchange celebrates listing of NCLE
Group-IB unveils high-tech crime trends report 2025 for the Middle East, Turkey and Africa
State-sponsored cyber threats, including Advanced Persistent Attacks and Hacktivism surged in the Middle East in 2024, with GCC countries emerging as primary targets, according to a report released by Group-IB, a leading creator of cybersecurity technologies to investigate, prevent, and fight digital crime.
Group-IB’s High-Tech Crime Trends Report 2025 provides a comprehensive analysis on the interconnectivity of cybercrime, and the evolving cyber threat landscape in the Middle East and Africa region.
It offers valuable intelligence on advanced persistent threats, hacktivism, and emerging cyber threats, empowering businesses, cybersecurity professionals, and law enforcement in the Middle East with insights to enhance their cybersecurity strategies.
The report said that though APTs in the region saw a 4.27 percent increase compared to a 58 percent surge globally, 27.5 percent of these threats from state-backed espionage groups were actively targeted at GCC countries.
Ashraf Koheil, regional sales director MEA at Group-IB, said: “Our report captures the dynamic and complex nature of cyber threats faced by the Middle East today. It shows that cybercrime is not a collection of isolated incidents, but an evolving ecosystem where one attack fuels the next. From sophisticated state-sponsored attacks to rapidly evolving hacktivism and phishing campaigns, the insights presented in this report are essential for organizations seeking to strengthen their cybersecurity defenses.”
While GCC countries were the most targeted due to their strategic economic and political importance, other significant targets included Egypt (13.2 percent) and Turkey (9.9 percent), reflecting their geopolitical roles, while countries like Jordan (7.7 percent), Iraq (6.6 percent), as well as Nigeria, South Africa, Morocco, and Ethiopia also face growing cyber threats.
In 2024, the MEA ranked third globally in hacktivist attacks, accounting for 16.54 percent of incidents, trailing behind Europe (35.98 percent) and Asia-Pacific (39.19 percent).
The primary industries affected included government and military sectors (22.1 percent), financial services (10.9 percent), education (8 percent), and media and entertainment (5.2 percent), with attacks aimed at disrupting critical infrastructure and essential services. This uptick is driven by ongoing geopolitical tensions, where cyberattacks are used for ideological expression or political retaliation.
The report also shed light on other pressing cybersecurity challenges including the persistent threat of phishing and data breaches across the GCC and the wider MEA region.
As the region continues its rapid digital transformation, it has become a prime target for increasingly sophisticated scams targeting the energy, oil and gas industry (24.9 percent), financial services (20.2 percent) highlighting the economic motives behind cybercrime.
Phishing attacks also remain a major threat, with internet services (32.8 percent), telecommunications (20.7 percent), and financial services (18.8 percent) being the top targeted sectors in the META region.
“We must embrace a collective defense strategy that unites financial institutions, telecommunications providers, and law enforcement agencies. By sharing intelligence, coordinating proactive security measures, and executing joint actions, we can disrupt fraudulent activities before they cause harm. This collaborative approach not only enhances our ability to detect and prevent fraud but also strengthens the resilience of our critical infrastructure, protects our national security,” added Ashraf Koheil.
The report highlighted that ransomware attacks remained relatively the lowest globally in the MEA region, with only 184 incidents.
It also highlights ongoing concerns regarding Initial Access Brokers (IABs) and the broader vulnerabilities they exploit. In 2024, IAB activity was significant in the region, with GCC countries (23.2 percent) and Turkey (20.5 percent) emerging as the most targeted jurisdictions. Meanwhile, the figures for compromised hosts — which represent credentials and sensitive data from compromised devices, often sold on the dark web — were highest in Egypt (88,951), followed by Turkey (79,789) and Algeria (49,173) exposing significant cybersecurity gaps.
Stolen credentials and sensitive corporate data sold on the dark web enabled ransomware, state-sponsored attacks, and cybercrimes. Over 6.5 billion leaked data entries included email addresses, with nearly 2.5 billion being unique. Additionally, 3.3 billion leaked entries contained phone numbers, with approximately 631 million unique numbers.
A staggering 460 million passwords were exposed globally in 2024, with 162 million of them being unique. This continues to fuel cybercriminal activities within the dark web economy, amplifying the risk to organizations and individuals alike.
Dmitry Volkov, CEO of Group-IB, said: “Group-IB played an intensified role in its global fight against cybercrime and contributed to eight major law enforcement operations across 60+ countries, leading to 1,221 cybercriminal arrests and the dismantling of over 207,000 malicious infrastructures. These efforts disrupted large-scale cybercriminal networks, highlighting the critical role of collaboration between private cybersecurity firms and international law enforcement.”
The report said threat actors employed advanced tactics, techniques, and procedures, including social engineering, ransomware, and credential theft. New techniques such as the Extended Attributes Attack, Facial-Recognition Trojan (GoldPickaxe.iOS), and ClickFix infection chain showcase the evolving sophistication of cyber threats in the region.
For further insight into these findings, see the full High-Tech Crime Trends 2025 report here.
Lumi opens largest service and maintenance center in Tabuk
Lumi, a leading mobility provider in the Kingdom of Saudi Arabia, has announced the opening of its new center in Tabuk’s new industrial area.
Set across an extensive 4,500 sq.m., it is Lumi’s largest service and maintenance center in the Kingdom, as well as their first in the north, underscoring their commitment to enhance customer service through timely expansion.
Equipped to serve both cars and buses, the state-of-the-art new service and maintenance center is fitted out to facilitate both B2B and B2C services.
With the capacity to handle 30 vehicles daily, it further amplifies Lumi’s capabilities to scale up efficiency on the back of cutting-edge technology.
The new opening takes Lumi’s total service centers in Saudi Arabia to four.
Syed Azfar Shakeel, CEO of Lumi, said: “Saudi Arabia’s dynamic growth trajectory calls for an agile and resilient land mobility sector to keep pace with the growing needs of the local economy. Lumi’s expansion strategy in alignment with Saudi Vision 2030 has seen us enhancing our offerings to serve the requirements of a booming local sector. The opening of our new center in Tabuk, is part of our long-term strategy to augment our operational excellence in the region and amplify our innovative offerings to our valued customers.”
Lumi’s state-of-the-art service and maintenance centers located in Riyadh, Jeddah, Alkhobar, and now Tabuk will enhance support to their ever-expanding customer base in the region. Other than routine maintenance work in line with Lumi’s commitment to provide a young reliable fleet of vehicles to ensure the safety and well-being of drivers, the new center is also equipped to handle damaged vehicles.
With its fleet of over 35,000 new and well-maintained vehicles spread across 41 locations in the Kingdom, Lumi offers convenient and seamless booking experience enhanced by efficient customer service built on technology, efficiency and scale.
As one of Saudi Arabia’s leading car rental and leasing companies, with branches across 18 cities, they are well-equipped to meet the demands of the Kingdom’s growing population.
LuLu, Tadweer join forces for a food waste recycling initiative in Saudi Arabia
LuLu Hypermarket, a leading retail chain, has partnered with Tadweer to launch a groundbreaking food waste recycling project, aiming to promote sustainability and responsible waste management. The agreement was officially signed on Jan. 23 in the presence of senior representatives from both organizations.
The initiative focuses on collecting food waste from hotels, restaurants, and markets across the region and transforming it into organic compost with the support of Tadweer’s specialized recycling facilities.
The process involves multiple stages, including waste collection, sorting, chopping, fermentation, and final compost production.
By diverting food waste from landfills and converting it into valuable compost, the project contributes to sustainable development goals, aligning with Saudi Arabia’s vision for an environmentally responsible future.
The signing ceremony was attended by Hesham Aljabr from Tadweer and key executives from LuLu Hypermarket, including Muhammad Ahmad Abdul Jalil Bubushait, executive manager; Moiz Nuruddin, regional director, Eastern Province; Zaid Battal Al-Subaie, administration manager; Salam Sulaiman, regional manager; and Amr Mohmed, regional commercial manager.
LuLu remains committed to fostering green initiatives and supporting innovative solutions that contribute to a healthier planet.
Carrier opens its new Middle East experience center in Dammam
Carrier in the Middle East proudly announces the opening of its newest Carrier Experience Center in Dammam.
This premier training hub will serve channel partners, customers, and educational institutions across Saudi Arabia, reinforcing Carrier’s commitment to industry development and knowledge sharing. Carrier is a part of Carrier Global Corporation, a global leader in intelligent climate and energy solutions.
Designed to provide hands-on training and in-depth technical knowledge on Carrier’s advanced HVAC technologies, the center offers structured courses, practical demonstrations and expert-led workshops. It will enable channel partners and customers to enhance their skills and stay ahead in a rapidly evolving industry.
Additionally, the center will collaborate with universities and educational institutions, offering specialized programs to equip the next generation of HVAC professionals with essential knowledge and expertise.
“Carrier has always been committed to empowering our partners and customers with the latest knowledge and technological advancements,” said Tony Jabbour, managing director, Carrier Middle East. “The launch of the Carrier Experience Center in Dammam reflects our dedication to strengthening technical capabilities in the region and supporting the future of the HVAC industry in Saudi Arabia.”
The center also features a comprehensive product display showcasing Carrier’s latest HVAC products and solutions. This display enables customers to experience firsthand the cutting-edge technologies and innovations that Carrier offers, helping them make informed decisions about their HVAC needs.
Salman Zebian, general manager, Carrier Saudi Arabia, added: “This new facility will serve as a center of excellence, offering best-in-class training and resources to our partners and customers. By extending our expertise to educational institutions, we are also fostering talent development and preparing future leaders in the HVAC sector.”
The opening event was attended by key customers and Carrier team members, underscoring the company’s commitment to driving innovation and excellence in the region. The Carrier Experience Center in Dammam marks a significant step in Carrier’s mission to enhance industry knowledge and technical proficiency in Saudi Arabia.
Aldar partners with The Digital School to support communities, empower future
Aldar has signed a partnership with The Digital School, a Mohammed bin Rashid Al Maktoum Global Initiative, to support the groundbreaking “Donate Your Own Device” campaign. Aligned with the UAE’s Year of Community, this collaboration underscores Aldar’s unwavering commitment to enhancing digital access to education, ensuring that students locally and internationally have the tools they need to thrive.
The “Donate Your Own Device” campaign is a powerful initiative aimed at bridging the digital divide worldwide by encouraging individuals and organizations to contribute unused laptops, tablets, and other electronic devices. In a world where technology is integral to education, this campaign is creating a path to opportunity for students who lack the necessary resources to access digital learning.
As part of this collaboration, Aldar will contribute AED 500,000 as well as donating used electronic devices from its offices, schools, and communities, promoting a circular economy. This collective effort will not only provide essential tools for online learning but will also empower students to engage with educational content, develop critical digital skills, and unlock their potential for a brighter future.
Faisal Falaknaz, chief financial and sustainability officer at Aldar, said: “Our partnership with The Digital School is a testament to Aldar’s belief that education is a fundamental right and a powerful catalyst for change. Bridging the digital divide is essential in today’s world, and this impactful initiative will enable every child, regardless of their background or circumstances, to access quality education and equip them with the tools they need to succeed. We are not only investing in individuals but also contributing to a brighter, more equitable future.”
Dr. Waleed Al-Ali, secertary-general of The Digital School, said: “Our collaboration with Aldar marks a pivotal step in closing the digital gap and expanding access to digital education for students in need across the globe. The ‘Donate Your Own Device’ initiative goes beyond simply redistributing technology—it’s an investment in the future, ensuring that every student has the opportunity to learn, grow, and thrive in an increasingly digital world.”
This partnership underscores our unwavering commitment to providing high-quality, flexible education, working alongside dedicated partners who share our vision for a more inclusive and sustainable learning experience.”
