News
Mandiant Unveils M-Trends 2023 Report, Delivering Critical Threat Intelligence Directly from the Frontlines
Mandiant, now part of Google Cloud, today released the findings of its M-Trends 2023 report. Now in its 14th year, this annual report provides timely data and expert analysis on the ever-evolving threat landscape based on Mandiant frontline investigations and remediations of high-impact cyber-attacks worldwide. The new report reveals the progress organizations globally have made in strengthening defenses against increasingly sophisticated adversaries.
“M-Trends 2023 makes it clear that, while our industry is getting better at cyber security, we are combating ever-evolving and increasingly sophisticated adversaries. Several trends we saw in 2021 continued in 2022, such as an increasing number of new malware families as well as rising cyber espionage from nation-state-backed actors. As a result, organizations must remain diligent and continue to enhance their cyber security posture with modern cyber defense capabilities. Ongoing validation of cyber resilience against these latest threats and testing of overall response capabilities are equally critical.” – Jurgen Kutscher, VP, Mandiant Consulting at Google Cloud
Global Median Dwell Time Declines to Just Over Two Weeks
According to the M-Trends 2023 report, the global median dwell time – which is calculated as the median number of days an attacker is present in a target’s environment before being detected – continues to drop year-over-year down to 16 days in 2022. This is the shortest median global dwell time from all M-Trends reporting periods, with a median dwell time of 21 days in 2021.
When comparing how threats were detected, Mandiant observed a general increase in the number of organizations that were alerted by an external entity of historic or ongoing compromise. Organizations headquartered in the Americas were notified by an external entity in 55% of incidents, compared to 40% of incidents last year. This is the highest percentage of external notifications the Americas has seen over the past six years. Similarly, organizations in Europe, the Middle East, and Africa (EMEA) were alerted of an intrusion by an external entity in 74% of investigations in 2022 compared to 62% in 2021.
Mandiant experts noted a decrease in the percentage of their global investigations involving ransomware between 2021 and 2022. In 2022, 18% of investigations involved ransomware compared to 23% in 2021. This represents the smallest percentage of Mandiant investigations related to ransomware since prior to 2020.
“While we don’t have data that suggests there is a single cause for the slight drop in ransomware-related attacks that we observed, there have been multiple shifts in the operating environment that have likely contributed to these lower figures. These factors include, but are not limited to ongoing government and law enforcement disruption efforts targeting ransomware services and individuals, which at minimum require actors to retool or develop new partnerships; the conflict in Ukraine; actors needing to adjust their initial access operations to a world where macros may often be disabled by default, as well as organizations potentially getting better at detecting and preventing or recovering from ransomware events at faster rates.” – Sandra Joyce, VP, Mandiant Intelligence at Google Cloud.
Stuart McKenzie, Head of Mandiant Consulting EMEA at Google Cloud, said: “Our latest M-Trends report shows dwell time has decreased for another consecutive year. We look at the median number of days an attacker sits in a target’s environment before being detected – in EMEA this is now less than three weeks, compared to 48 days in the previous year, so an improvement of 58% year-on-year.”
“While this shows clear progress in cyber security capabilities on the part of defenders, we’re also seeing threat actors being increasingly brazen. It’s important that defenses aren’t static and organizations are running continuous testing programs to maintain a strong security posture. As ever, practice makes perfect – one of the best ways to stay prepared is to keep defending against cyber-attacks simulated by a red team. By continuously testing defenses against likely, real-world scenarios, an organization can quickly uncover vulnerabilities and focus on the right things to work on,” concluded Stuart.
Cyber Espionage, Malware Families Increase Globally
Mandiant identified extensive cyber espionage and information operations leading up to and since Russia’s invasion of Ukraine on February 24, 2022. Most notably, Mandiant saw activity by UNC2589 and APT28 prior to the invasion of Ukraine and observed more destructive cyber-attacks in Ukraine during the first four months of 2022 than in the previous eight years.
In 2022, Mandiant began tracking 588 new malware families, revealing how adversaries are continuing to expand their toolsets. Of the newly tracked malware families, the top five categories consisted of backdoors (34%), downloaders (14%), droppers (11%), ransomware (7%), and launchers (5%). These categories of malware remain consistent over the years and backdoors continue to represent a little over one-third of the newly tracked malware families.
In line with previous years, the most common malware family identified by Mandiant in investigations was BEACON, a multi-function backdoor. In 2022, BEACON was identified in 15% of all intrusions investigated by Mandiant and remains by far the most seen in investigations across regions. It has been used by a wide variety of threat groups tracked by Mandiant including nation-state-backed threat groups attributed to China, Russia, and Iran, as well as financial threat groups and over 700 UNC groups.
“Mandiant has investigated several intrusions carried out by newer adversaries that are becoming increasingly savvy and effective. They leverage data from underground cybercrime markets, conduct convincing social engineering schemes over voice calls and text messages, and even attempt to bribe employees to obtain access to networks. These groups pose a significant risk to organizations, even those with robust security programs, as these techniques are challenging to defend against. As organizations continue to build their security teams, infrastructure, and capabilities, protecting against these threat actors should be part of their design goals.” – Charles Carmakal, CTO, Mandiant Consulting at Google Cloud
Financial
Dhruva to Rebrand as Ryan Across the Middle East, Signaling Unified Global Brand
Dhruva will adopt the Ryan brand across the UAE and Saudi Arabia by the end of 2026, uniting the practice with Ryan’s global identity and international platform.
Dhruva, a leading tax consultancy firm in the Middle East, and Ryan, a leading global tax services and software provider, today announced that Dhruva will transition to the Ryan brand across the United Arab Emirates (UAE) and the Kingdom of Saudi Arabia. The rebranding will be completed by the end of 2026, bringing the practice under Ryan’s global identity and reinforcing its position as part of the world’s leading global-scale specialist in business tax.
The transition marks the next phase of the strategic joint venture announced in 2025 and reflects the continued integration of Dhruva’s regional capabilities with Ryan’s global platform, technology, and international resources. Clients across the Middle East will continue to benefit from the same trusted advisory teams, enhanced by access to Ryan’s worldwide expertise and service capabilities.
“The Middle East has been a strategic growth market for us for many years, and we have built a strong advisory practice founded on deep client relationships, technical excellence, and local market understanding,” said Dinesh Kanabar, Founder, Chairman, and CEO, Dhruva Advisors and Vice Chairman, Ryan.
“The transition to the Ryan brand marks a significant milestone in our journey and reflects the strength of our partnership. By combining our regional expertise with Ryan’s global scale, technology, and international capabilities, we are creating an even stronger platform to support clients across the region as they navigate an increasingly dynamic and evolving tax landscape.”
“The Middle East is one of the most important growth markets for tax advisory services globally, and we are investing in the region with a long-term view,” said Tom Shave, President of Ryan’s European and Asia-Pacific Operations. “Uniting under the Ryan brand strengthens how we serve clients across the UAE, Saudi Arabia, and Europe—bringing seamless access to our global expertise, technology, and international resources through one trusted platform. This transition marks an important milestone in our integration and reinforces our commitment to the region’s future.”
Ryan will continue to invest in its Middle East operations, expanding its team, capabilities, and regional presence across key markets, including Dubai, Abu Dhabi, and Riyadh. The practice provides comprehensive tax advisory services spanning corporate tax, value-added tax (VAT) and indirect tax, transfer pricing, mergers and acquisitions (M&A) tax structuring, research and development (R&D), and cross-border compliance.
“The response from our clients over the past year has been the clearest validation of this partnership,” said Nimish Goel, Leader, Middle East, Dhruva, a Ryan Affiliate. “From the outset, our teams have been integrating Ryan’s global capabilities in technology, specialized expertise, and best practices into the work we already lead in the region. Adopting the Ryan brand is the natural next step. It is the same people and the same trusted relationships, now carrying the name of the largest Firm in the world dedicated exclusively to business taxes.”
The rebranding will be implemented in phases during the second half of 2026, with signage, visual identity, and digital properties transitioning to the Ryan brand across the region.
News
GFH Partners Manrre REIT (CEIC) PLC and Palmon Group unveil new temperature-controlled chemical warehouse in JAFZA
GFH Partners Manrre REIT (CEIC) PLC (“Manrre” or “the Fund”), managed by GFH Partners Ltd. (“GFH Partners”), together with its development manager Palmon Group FZCO (“Palmon Group”), today announced the opening of a specialised temperature-controlled chemical warehouse in Jebel Ali Free Zone (Jafza), further expanding the Fund’s Grade A logistics portfolio.
The inauguration ceremony was held in the presence of Mr Abdulla Bin Damithan, CEO and Managing Director, DP World GC, alongside senior officials and dignitaries from Jebel Ali Free Zone, GFH Partners, and Palmon Group.
Purpose-built and developed by Palmon Group to meet stringent international safety and compliance standards, the new facility reflects the rising regional demand for certified chemical storage infrastructure that supports manufacturing, energy, industrial services, and third-party logistics. The warehouse is situated on a 180,000sq ft plot with a built-up area of 112,000 sq ft, divided into three temperature-controlled chambers that reach a maximum height of 13 metres. The warehouse has been designed with advanced Early Suppression Fast Response (ESFR), and in-rack sprinkler systems to ensure safety and resilience across all operations.
The facility’s layout allows storage of a diverse range of hazard-classified chemicals. One chamber is configured for UN Class 3 and 4 chemicals, a second accommodates UN Class 5 chemicals, while the third has been developed for UN Class 6, 8, 9 and non-regulated materials. The warehouse offers capacity for 17,400 pallets and includes nine loading docks and three loading bays. The office space has been intentionally limited to three percent of the total built-up area, maximising operational efficiency and warehouse utility.
Speaking on the launch, Kunal Lahori, CEO of Palmon Group and Board Member of Manrre, said: “This new facility brings together precision engineering, regulatory compliance, and long-term value creation. Specialised chemical storage requires a high degree of control and risk management, and we have developed this warehouse to meet those expectations while offering flexibility and scalability for tenants. As one of the earliest developers in Jafza, Palmon Group remains committed to supporting the UAE’s logistics and industrial growth.”
Mohamed Ali, Head of GCC at GFH Partners, said: “The opening of this warehouse marks another important milestone in the expansion of the GFH Partners Manrre REIT portfolio, particularly in mission-critical industrial and logistics assets that serve high-growth sectors. The UAE continues to see strong demand for specialised storage solutions, and this facility reinforces our strategy to develop resilient, future-ready assets that deliver long-term value for our investors.”
The logistics hub is now fully operational and is leased to Safe Logistics. The new facility is expected to play a significant role in strengthening regulated supply chains and supporting Dubai’s position as one of the region’s foremost logistics and industrial hubs.
News
Big Ticket joins DP World ILT20 Season 4 as Official Partner
Big Ticket, the largest and longest-running guaranteed raffle draw in the Middle East (known for cash prizes, dream luxury cars, gold bars and coins) has joined the DP World International League T20 Season 4 as an Official Partner.
In recent years, Big Ticket has become more than just a raffle, it has gained the reputation of being a brand built around rewarding dreams and celebrating ambition, growing into one of the region’s largest and one of the most anticipated monthly draws in the UAE.
DP World ILT20 – the 34-match cricketing extravaganza – the biggest T20 tournament in the region featuring some of the most renowned global cricket stars is currently being played at the Dubai International Stadium, Zayed Cricket Stadium, Abu Dhabi and Sharjah Cricket Stadium.

DP World ILT20 Head of Partnerships Ishan Chopra: “We are delighted to welcome a UAE born raffle giant like Big Ticket as an Official Partner of the DP World ILT20. Their legacy of helping dreams come true aligns perfectly with our vision of delivering unforgettable, fan-first experiences across the league. This partnership strengthens our commitment to creating moments of excitement both on and off the field, and we look forward to elevating Season 4 together. With a household name like Big Ticket on board, we are confident of unlocking even more opportunities for fans to engage, celebrate and go All In for Cricket.”
Meanwhile, DP World ILT20 match tickets across all categories are available for the remaining tournament matches. Various spectator stand tickets start at AED 20 and hospitality packages start from AED 325. Fans can also book the new Sixes Lounge experience for AED 395, which includes unlimited food and beverages. Tickets can be purchased by visiting tickets.ilt20.ae or Virgin Megastores.
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