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ANGLE OF ACTION

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10 years ago

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Updated : February 2, 2015 0:0  ,Dubai
By Editor

img1Information Security solutions vendor Paladion is betting big on the Middle East, with major investments in the region that has seen more than its fair share of online threats. CEO Rajat Mohanty and Firosh Ummer, Managing Director, MEA, discuss this regional strategy 

There’s a lot more awareness and concern today in the Middle East of online threats. What is driving this renewed vigilance?

RM: The security situation has changed considerably in the Middle East in recent years and the conversation around online security has shifted sharply. This is primarily driven by a few factors chief among them a rise in the number of attacks on targets in the Middle East coming courtesy of state actors as well as organized hacking groups. There have also been a lot of threats targeting financial transactions and institutions. Subsequently, there has also been a lot more awareness and education on the threat landscape and the vulnerabilities that exist. A lot of this awareness is driven by vendors like Paladion with the message targeted not just at CIOs, but at business owners as well.

FU: In the last few years, there have been several hacking incidents in the region, some politically motivated and targeting critical infrastructure like oil & gas. There have also been several attacks on ME financial institutions. The region is currently at the centre of global attention as a result of the awarding of Expo 2020 to Dubai as well as football World Cup in Qatar. That interest however also tends to attract unwanted attention from hackers. In addition, an increasing number of people are simply getting online whether to access public or private resources online. There are risks associated with that-now you have application issues, infrastructure protection concerns etc. These are the priorities for a lot of organizations here.

How does Paladion handle these threats that is different from the norm

RM: Our focus is to help companies build internal capabilities to defend themselves. We do not simply sell tools to be installed by organizations and then leave them to fend for themselves. That will not build the capability organizations need to effectively defend themselves. This type of capability comes when you know how to use those tools and the process around it, then having the requisite people skills for it and finally having in place a long term programme to continuously harness those resources. Thus, as a company, we provide the managed security solution which we either build for the customer or offer it remotely via the cloud. At the end of the day, wherever there’s a problem organizations want to solve, our objective is to put together a holistic way to solve the problem. We work with multiple parties to bring the right technology, but our focus remains to help the customer get the capability to defend against threats. Whether organizations have been attacked or not, they need to have the capability to prevent any kind of attack.

Discuss how you offer your managed security solution and how this is a better delivery model for Paladion solutions

FU: We want to be recognized as a one-stop-shop for Managed Security services. We make sure that our customers’ security preparedness is intact to protect them from known and emerging threats. Paladion Managed Security offering is delivered in co-source and in-source models. It is delivered with a mix of both the onsite and off-site teams that leverage existing investment in security technologies at the customer premises. For management of risks, Paladion brings in its repository of risk and controls, security tools and automated processes. Managed Security services are offered in a modular manner with the following components-Managed Governance, Risk and Compliance; Managed Security Operation Centre; Managed Testing and Assurance and; Managed Identity and Access.

RM: We are also in the process of launching a cloud product for our managed security for which we will be going primarily through our reseller partners. For large enterprises, we go with one-to-one deals.

Discuss Paladion’s market strategy for the MEA region and the importance of the region to company’s bottom-line

RM: The Middle East is one of the most potential markets in the world right now. We are thus making a lot of investments here. We seek to set-up a Security Operations Centre here in Dubai. Like aforementioned, we are setting up the cloud operations where we will be working with resellers and value added service providers in the region. We are also increasing our people here having doubled the workforce here in the Middle East in the last year. The industry is expected to grow at between 20-23% YoY while Paladion as a company has set up aggressive targets for us by increasing our investments. We want to see ourselves growing much more than the market average.

FU: Paladion’s strategy in the Middle East is to consolidate more of the existing markets like UAE, Saudi and Qatar by bringing more capabilities like the local monitoring centre we are in the process of setting up. The second front is to expand into the African market. We already have ongoing projects in Kenya, Nigeria and South Africa. So the strategy moving forward is to consolidate where we are stronger, bring more capabilities and take a market leadership position at the same time. We will work on the partnership model in new markets to learn about markets before we venture directly into these markets.

Discuss future offerings from Paladion and expected impact in the market

RM: Apart from the Cloud-managed security, we are implementing security intelligence solutions using machine learning to understand how security performs in real time. For a typical organization that has set up multiple security products in their environment that are producing a lot of data, it’s not feasible to have teams of people sitting and analysing the same. The solution is having machines that can do the analysing for them. So we are bringing a solution that is based on machine-learning to understand security and provide action-level intelligence.

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Financial

CFI Partners with Saadiyat Nights as Part of Its Collaboration with DCT Abu Dhabi

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3 days ago

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January 17, 2025

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CFI

CFI Financial Group is proud to announce its official partnership with Saadiyat Nights, as part of CFI’s strategic partnership with the Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi). This collaboration underscores CFI’s commitment to supporting its local community and providing its clients with unforgettable cultural and entertainment experiences in one of the world’s most dynamic destinations. 

Currently captivating audiences, the second edition of Saadiyat Nights is bringing legendary international artists, performers and fans together at the iconic open-air venue on Saadiyat Island. Running from December to February, this extraordinary series features iconic acts like Boyz II Men, Christina Aguilera, Robbie Williams, Michael Bublé, Leningrad, Ebi and Omar Khairat, with some already dazzling the stage and others eagerly awaited.

Through this collaboration, CFI will benefit from exceptional brand visibility at each event, while offering its clients premium access to performances and money-can’t-buy experiences, including exclusive Meet & Greet opportunities with some of these legendary artists.  

“Through this collaboration, CFI reinforces its brand presence and industry leadership by securing high brand visibility at each of the Saadiyat Nights events in Abu Dhabi, a key hub for culture and global connections,” said Hisham Mansour, Co-founder and Managing Director of CFI. “This partnership reflects our commitment to fostering meaningful connections, supporting cultural initiatives and providing our clients with opportunities to engage with world-class experiences that complement their journey with CFI.”

Through this partnership, CFI is proud to support Abu Dhabi’s position as a leading cultural destination in the region, while staying committed to its mission of providing traders with exceptional trading experiences and engaging with like-minded local communities.

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Hospitality

Where There Is Trade, There Is Gulfood

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4 days ago

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January 17, 2025

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Gulfood

There is only one place where the world gathers annually to witness an unparalleled F&B showcase, with products meticulously handpicked from every corner of the globe. This time, a new global chapter is unfolding in the future of food and it’s within the legacy of Gulfood that the world can anticipate a seismic impact.

The 30th edition of Gulfood, taking place at the Dubai World Trade Centre from 17 – 21 February, will host a record 5,500+ exhibitors from 129+ countries. It will unveil new business opportunities and solve new and evolving global challenges.

Celebrating 30 Editions of Informing the Global Foodscape

For over three decades, Gulfood has been the driving force at the heart of global food commerce—igniting innovation, sparking cross-cultural collaboration and redefining the next era of global F&B. As the world experiences a sweeping transformation in food systems—powered by groundbreaking technologies, sustainability breakthroughs, and forward-thinking ideas—Gulfood 2025 will be the epicentre of this revolution. This is where the next era of food begins, and you’re invited to be at the forefront.

Event date:  17 – 21 February 2025 at Dubai World Trade Centre & registration is now live.

Why Visit?

Where The World Connects for Their F&B Sourcing Success

  • 5500+ Exhibitors: Explore 100k+ new products and innovations from a vast exhibitor showcase across eight distinct sectors.
  • 129 Countries Exhibiting: Experience global diversity with the biggest lineup of participating countries.
  • 43% New Exhibitors: Get the first look at the fresh offerings from exhibitors attending the show for the first time.
  • 24 Huge Halls: Navigate 24 massive halls filled with exhibitors, country pavilions and culinary experiences.
  • 1 Million Sq. Ft Exhibition Area: Gulfood 2025 boasts one million square feet of show floor space.
  • Network And Pre-Schedule Meetings: Establish close connections with F&B industry leaders through pre-scheduled meetings via our official event app and meetings programme.

Show Sectors

Gulfood is set to showcase the latest trends and advancements in the F&B industry, spanning seven distinct sectors: Dairy, Beverage, Fats & Oils, Pulses & Grains, Meat & Poultry, Power Brands and World Food.

Anticipate exploring products spanning these sectors at Gulfood, the ultimate platform for connecting with industry leaders, discovering state-of-the-art innovations and forging valuable partnerships in the ever-evolving F&B landscape.

Features

Food500

The summit will unite global leaders to tackle key challenges, sparking discussions, and showcasing trends, featuring top CEOs, policymakers and innovators.

From talks like Visionaries: Exploring Cutting-Edge Technologies Driving Food Tech to Pioneering Smart Agricultural Systems in the F&B Sector and more, the summit aims to drive business, inspire change and fuel global economic growth.

GULFOOD DISCOVERY TOURS

Over five days, engage in curated tours that are designed to connect you directly with the products you’re most interested in sourcing. The tours focus on diverse food categories such as Gourmet, Alternative Proteins, Ready-to-Eat, and Plant-Based.  F&B professionals, buyers and sourcing experts can gain valuable insights, access exclusive products and make informed business decisions while exploring key trends influencing global F&B.

Top Table

Top Table returns with a charismatic group of local and international chefs who are reimagining the way we create and enjoy food. With a bold focus on culinary futurism, the 2025 edition will debut new techniques, inventive flavour combinations and unconventional textures that surprise and delight audiences.

YOUTHX – YOUNG CHEF CHALLENGE

Witness a high-energy culinary competition between young hotel chefs from around the world. They will compete for a career-defining internship at some of the top restaurants and culinary schools in Europe. Gulfood’s YouthX brings together emerging culinary talent from diverse cultures, offering a global platform that unites chefs through healthy competition. They’ll be judged on futuristic techniques that set the event apart from previous editions, showcasing the next generation of global culinary leaders.

BLEND STUDIO
Celebrate the artistry of beverages with immersive masterclasses that showcase the latest trends and exclusive, never-seen-before creations crafted by industry experts. Explore the world of coffee and the trendiest crafted drinks while seizing opportunities to connect and learn from leading beverage professionals.

THE CULINARY DEBATE
Watch as global culinary icons debate the industry’s most critical challenges and exciting opportunities in the world of food. You’ll be captivated as they offer fresh perspectives on the rapidly evolving industry landscape.

THE TASTING ROOM
Experience the latest culinary creations from top brands and network with business leaders in the F&B industry. Whether you’re looking for the market’s most exciting products, new partnerships or upcoming trends, this is where opportunities come to life.

DUBAI WORLD CUISINE
Experience an exclusive four-hands dinner series that brings together celebrated international chefs and homegrown culinary talent. These unique collaborations offer a one-of-a-kind opportunity to savour bespoke menus, where local flavours and global expertise converge to create exceptional dining experiences.

GULFOOD AFTER HOURS
Explore Dubai’s vibrant food scene with Gulfood After Hours. We’ve teamed up with the city’s most iconic restaurants to give you an unforgettable culinary adventure. From casual eateries to fine dining, you’ll experience the very best Dubai has to offer, outside of the exhibition halls. Simply book, show your ticket, and enjoy exclusive offers at venues across the city.

INNOVATION AWARDS

The Gulfood Innovation Awards will celebrate brands setting a new standard for excellence in F&B. Recognising forward-thinking products that demonstrate creativity, ingenuity and impact, these prestigious awards highlight the best in the F&B industry across 10 categories.

Register today.

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Financial

MultiBank Group Secures Court Victory as Judge Declares Von Der Heydt Claims as “Fictitious” and “Untenable”

Published

4 days ago

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January 17, 2025

By

MultiBank Group

MultiBank Group has achieved a significant courtroom victory in the Eastern Caribbean Supreme Court against Von Der Heydt Invest S.A. (VDH), a Von Der Heydt Group subsidiary, which had brought claims against MultiBank FX International Corporation (MBFX), a MultiBank Group entity, and its founder, Naser Taher.

The court described the allegations brought by VDH as ‘fictitious’ and ‘untenable’, labelling VDH’s pursuit of these matters as an “abuse of process.” The court ordered VDH to cover over USD$25 million in legal costs incurred by Mr. Taher and MBFX. 

The Honorable Justice Gerhard Wallbank’s decision rejected VDH’s claims and confirmed MultiBank Group’s adherence to transparency and integrity. Naser Taher, Founder and Chairman of MultiBank Group said: ‘The accusations levied against us by Von Der Heydt have always been unfounded, and this ruling is a testament to our strong adherence to the principles of fairness and lawful conduct.’

The court confirmed that the legal campaign by VDH and its affiliates over the past four years consisted of coordinated and unfounded allegations targeting MultiBank Group. The judgment also highlighted a “conspiratorial network” involving multiple parties.

A previous ruling by the court made in early 2024 compared the relationship between the Von Der Heydt Group, to the Bernie Madoff ponzi scheme.

This decision marks an end to VDH’s pursuit of claims against the MultiBank Group and runs parallel to the financial group’s broader collapse. Von Der Heydt Bank, a 250-year-old institution and VDH’s parent company, has surrendered its banking license and ceased to exist after being placed in liquidation by its founder Dietrich Von Boetticher. The court further commented on the plight of German noteholders allegedly represented by VDH, attributing their difficulties to mismanagement at the hands of the Von Der Heydt leadership.

A prior ruling by the London High Court found Colm Smith, CEO of CSM Securities, and his company in contempt of court for not adhering to a worldwide freezing order (WFO) obtained by MultiBank Group. This contempt stems from Smith’s failure to disclose assets related to a legal dispute involving Van Der Heydt Invest SA (VDHI), where significant losses were linked to investments in notes associated with the Multibank Index. His actions have raised the possibility of imprisonment as the court continues to address allegations of unlawful collusion against MultiBank Group, which are unfolding in various European courts.

MultiBank Group’s victory in the Eastern Caribbean Supreme Court further solidifies its position as a trusted leader in the financial derivatives market, operating under the oversight of 16 regulators across five continents and serving over one million clients worldwide. Naser Taher added: ‘We are delighted that the judiciary has recognised the baseless nature of these accusations and affirmed our global reputation for integrity and operational excellence. We remain steadfast in delivering the highest standards of financial services to our clients.’

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