Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
ACCIONA LEADS A PROJECT FOR THE EXTRACTION OF HIGH-VALUE ELEMENTS FROM SEAWATER BRINE
CIRCULAR SOLUTIONThe MINERALS project sets out to develop technologies for the selective extraction of high-value elements contained in the brine that arises from the desalination process, aligning the process with the principles of the circular economy. RIYADH, FEBRUARY 1st, 2024. As part of its commitment to sustainability and innovation, ACCIONA has launched the MINERALS project […]
SingleView awarded as “The Most Innovative Open Banking Solution Provider in Saudi Arabia” in 2023
SingleView, the pioneering fintech company based in Saudi Arabia, was honored as “The Most Innovative Open Banking Solution Provider in Saudi Arabia” at the 11th International Finance Ceremony held last Thursday in Dubai, UAE. This prestigious award acknowledges SingleView’s distinctive efforts in delivering Financial Technology solutions across various sectors, with a primary focus on Open […]
Alshegrey Investment Group and SNB Capital launch Al-Ahli Al-Basateen Real Estate Fund worth SAR 1 billion• The fund to develop office and commercial projects in Al-Basateen District in Diriyah Province
Riyadh, February 04, 2024: SNB Capital Company, in collaboration with Al-Shegrey Investment Group, proudly announces the launch of Al-Ahli Al-Basateen Real Estate Fund with a value of 1 billion Saudi riyals. This fund aims to invest in and develop office and commercial projects in Al-Basateen District in Diriyah province, Riyadh, in response to the growing […]
stc Group to showcase advanced defense solutions and foster innovation at World Defense Show 2024
Riyadh, 3 February 2024, stc Group, the engine of digital transformation, is participating as a sponsor at the World Defense Show 2024, taking place from February 4 to 8, 2024 in Riyadh. Under the theme ‘Equipped for Tomorrow,’ the second edition of the World Defense Show will showcase the future of defense through innovation and emerging technologies […]
Aria Holding and the Government of Maharashtra (India) Sign MoU for US $ 240 million
• Aria Holding to invest over US $ 240 million to establish a state-of-the-art float glass plant in Maharashtra to bolster infrastructure and drive economic growth. • The MoU was signed by Mr. Suraj Thampi, Group Chief Executive Officer of Aria Holding, in the presence of the Chief Minister of Maharashtra, Mr. Eknath Shinde, and […]
HRH Crown Prince launches ‘Alat’ to Make Saudi Arabia a Global Center for Electronics and Advanced Industrials
Riyadh, Kingdom of Saudi Arabia, February 1st, 2024 — His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al-Saud, Crown Prince, Prime Minister, and Chairman of the Board of Directors of the Public Investment Fund (PIF), announced today the launch of “Alat”, a PIF Company, which will create a global sustainable technology manufacturing hub in Saudi […]
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Saudia cements position as trailblazer, becoming Kingdom’s first airline customer to adopt RISE with SAP on Google Cloud
As part of wider transformation strategy, Saudi Arabia’s national flag carrier will partner with SAP to accelerate move to cloud, storing data on Google’s Dammam Cloud Region RIYADH, KSA — 31 January, 2024 — Saudia, the national flag carrier of Saudi Arabia, has become the first airline customer to adopt the newly launched RISE with SAP on Google Cloud […]
Imdaad Signs MoU with OMAINTEC to Drive Advancement of Engineering Sector
The new agreement aims to elevate the standards of the engineering sector by developing professional specialization for maintenance and reliability work. Dubai, 31 January 2024: Imdaad, a Dubai-based group of companies that provides integrated, sustainable Facilities Management (FM) services to enhance the operational efficiency of physical assets, has announced the signing of a Memorandum of Understanding (MoU) […]
Visa and Red Bull Formula One Teams Announce Global Partnership
● The partnership unveils a new team name and identity: Visa Cash App RB Formula One Team● Visa to become Red Bull F1 Teams first global partner with the Visa logo appearing on both cars● Visa and Cash App champion an F1 Academy team supporting equality in sport Riyadh, Kingdom of Saudi Arabia, 25 January […]
ENGIE Solutions Appoints Graham Easton as UAE General Manager
Dubai, UAE, January 29, 2024: ENGIE Solutions, a global leader in low-carbon energy and services, is pleased to announce the appointment of Graham Easton as the new General Manager for the UAE. With over 33 years of experience in operational and business development leadership, Easton brings a wealth of expertise to the role. In his new […]
ZATCA Issues Bonded Zones Rules in The Kingdom of Saudi Arabia
Riyadh, 26 January 2024 Zakat, Tax and Customs Authority (ZATCA) issued Bonded Zones Rules. These Rules outline the statutory provisions for licensing bonded zones and practicing the activities within these zones. In addition, the Rules specify the obligations of operators and ZATCA control and supervisory functions about the bonded zones. The rules include clarifying the […]
PwC Middle East announces alliance with human capital management platform Darwinbox
25 January 2024; Dubai, United Arab Emirates – PwC Middle East has announced a new alliance with Darwinbox, the fastest growing human capital management (HCM) platform, which will enable the firm to enhance its HR technology solutions offered to clients across the Middle East. The alliance builds on PwC’s technology offering, bringing human-led, tech-powered solutions to […]
PAYMOB AND MASTERCARD PARTNER TO ACCELERATE DIGITAL PAYMENT ACCEPTANCE IN MENA
Riyadh, Saudi Arabia, January 24, 2024 – Paymob, the leading financial services enabler in the Middle East, North Africa and Pakistan (MENA-P), has announced a partnership with Mastercard to accelerate digital payment acceptance across the MENA region. The strategic omnichannel partnership will leverage Paymob’s payments infrastructure and Mastercard’s payments technology to scale the adoption of low-cost solutions […]
ejada Wins Informatica’s 2023 Global Channel Partner
ejada Systems Company Ltd bagged two coveted titles at Informatica’s Global Partner Awards 2023. Not only did ejada scoop the prestigious Global Channel Partner of the Year award, but it also secured the EMEA Emerging Markets Channel Partner SVP of the Year title. Informatica and ejada have teamed up to provide AI-driven data management solutions, […]
European Technology ‘Made in Belgium’ Successfully Delivered at CES 2024 with strong Validation of High-End Solutions.
BRUSSELS/LAS VEGAS, Jan 24, 2024 – Belgian Tech companies reaped a rich harvest at CES 2024, the world’s most powerful tech event in the world. The 13 companies hosted by the Wallonia Export & Investment Agency at the Belgium Pavilion packed a punch with new contracts, strong sales leads, investment partnerships, distributor agreements and global […]
Moro Hub and ServiceNow Collaborate to Streamline Digital Transformation for Public and Private Enterprises in the UAE
This strategic collaboration aims to boost engagement and productivity across internal stakeholders, as well as extend cutting-edge services to public & private sector entities Dubai, UAE, 24 January 2024: Moro Hub, a subsidiary of Digital DEWA, the digital arm of Dubai Electricity and Water Authority (PJSC), announced today the signing of a Memorandum of Understanding (MoU) with ServiceNow (NYSE: […]
Immersive experiences are here to stayJavier Arias, ACCIONA Cultura ME Director
In a continually evolving world where technological possibilities seem endless, attracting the public’s attention has become a challenge. Faced with the saturation of traditional forms of participation, the transformative potential of immersive experiences has been adopted as a fundamental element in entertainment and even in consumption. Whether used as part of large-scale or more intimate […]
Nutanix Spearheads Innovation in Hybrid Multi-Cloud Cost Management
Organizations are swiftly moving towards hybrid cloud environments in an era where digital transformation is pivotal. Mohammad Wahba, the Director of Systems Engineering for the Middle East at Nutanix, highlights the criticality of navigating cost management in these complex setups. While hybrid clouds, combining private and public cloud infrastructures, are becoming the norm, they pose […]
PIF creates a new Electric 360 partnership with Formula E, Extreme E, and E1 powerboat racing to support the growth of electric motorsports globally
London, Monday, January 22, 2024 – The Public Investment Fund (PIF) today unveiled a multi-year partnership, Electric 360, with Formula E, Extreme E, and E1 to support the growth of electric motorsports and their role in advancing the future of electric mobility. The new partnership will draw together initiatives that underscore the power of electric motorsports […]
TAHAKOM & Huawei Partner to Accelerate Sustainability & Local Content in Saudi Arabia
Riyadh, Saudi Arabia, 22 January 2024 – The Saudi Technology and Security Comprehensive Control Company, TAHAKOM, and Huawei signed a Memorandum of Understanding (MOU) to drive Local Content & Sustainability initiatives in Saudi Arabia. The Kingdom of Saudi Arabia is committed to reducing carbon emissions and achieving the Net Zero target by 2060. Under the MoU, […]
ACCIONA uses new energy storage system to reduce emissions in one of its projects.
The company has incorporated an innovative energy storage system that allows it to power a tower crane while drastically reducing its environmental impact. RIYADH, JANUARY 15, 2024. ACCIONA has used a new, much more efficient energy storage system in the construction of the Alentejo Hospital in the Évora region of Portugal.This Atlas Copco ZBP45-45 energy […]
Saudi Export-Import Bank Signs Memorandum of Understanding with Export–Import Bank of the United States
Riyadh, Saudi Arabia, 16 January, 2024: Saudi EXIM Bank has signed a Memorandum of Understanding (MoU) with US EXIM, focusing on fostering comprehensive collaboration, strengthening economic ties, and advancing trade relations between the two nations. This MoU was signed on the sidelines of the 2024 Future Minerals Forum held in Riyadh, Saudi Arabia, from January […]