Firm stretches share price
UAE banks and companies have been warned to be vigilant after several firms fell victim to cyberattacks using fake websites, Specialists from BAE Systems, one of the world’s largest cybersecurity companies, said that in one instance, hackers attempted to lure “mules” for money laundering by creating a fake online job portal. According to Dr Adrian Nish, the company’s head of cyber threat intelligence, the criminals posed as employers and manipulated victims into thinking they were sending money for job opportunities. However, they were actually running an international money laundering scam. “The group will recruit mules and attack online bank users so they can transfer the money from online banking users through the mules,” Dr Nish said. “The banks they were attacking were based in the Middle East and there were some in the UAE as well.” Nish said a growing concern he sees in the Middle East is “activists” attempting to hack into news outlets or social media profiles to send out a political message. He said several media organisations have reached out to BAE Systems to learn more about ways they can protect their firms. And Nish said hackers are becoming experts at manipulating their victims. “To do that they must be able to converse with them,” he said. “In order to do that, they have to speak the most common language, which is English. Because people in the UAE speak English as a business language, it makes them more vulnerable than other countries where English isn’t widely spoken. It’s the reason we see the UK being targeted a lot as well. In the UAE, we see companies doing a lot of international trade and I think that’s another reason.” Yoga-wear firm Lululemon has beaten expectations after strong sales in the fourth quarter. Shares rose more than 3 per cent in yesterday’s pre-market trading. For the period ended January 31, the Canadian company earned $117.4 million, or 85 cents per share. A year earlier it earned $110.9 million, or 78 cents per share. Analysts polled by FactSet predicted 80 cents per share. Revenue climbed to $704.3 million from $602.5 million, topping the $692.6 million that analysts expected. Sales at stores open at least a year, a key indicator of a retailer’s health, increased 5 per cent on a constant dollar basis. Lululemon Athletica Inc reported a full-year adjusted profit of $1.86 per share on revenue of $2.06 billion.
UP: Lululemon beat expectations