Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
Bahri Logistics Partners with Saudi Arabia Railways to Provide International Freight Forwarding Services
Riyadh, KSA, 28 December 2023: Bahri Logistics, a global leader in logistics and transportation and one of the six business units of Bahri, has entered into an international freight forwarding service agreement with Saudi Arabia Railways (SAR). SAR is the owner and operator of the railway networks in Saudi Arabia, which plays a pivotal role in supporting the goals of building an […]
Almarai Bakery Factory in Hail wins the Basma Award
RIYADH, Saudi Arabia, December 29, 2023: The Almarai Bakery Factory in Hail won the award of HRH Prince Abdulaziz bin Saad bin Abdulaziz, Governor of Hail Region “Basma”, in its main branch as the best project that motivates and supports the process of sustainable development in the Hail region, which contributes to achieving the Kingdom’s Vision 2030. […]
LuLu Exchange Marks Milestone with Grand Opening of the 100th Customer Engagement Centre in the UAE
Dubai, United Arab Emirates, December 29, 2023: LuLu Exchange, a leading financial services provider, proudly commemorates its growth and success with the inauguration of the 100th customer engagement centre at Q1 Mall, Al Warqa, Dubai. This historic achievement reinstates the company’s commitment to enhancing customer experience and expanding its reach in the region. The newly opened […]
‘Nature Research Journal’ Showcases UAEREP’s Cloud-Seeding Achievements
Abu Dhabi, United Arab Emirates, 27 December 2023: The pioneering research and technology achievements of the UAE Research Program for Rain Enhancement Science (UAEREP) are featured in a peer-reviewed article published by the Nature Research journal npj Climate and Atmospheric Science. Titled “Rethinking water security in a warming climate: rainfall enhancement as an innovative augmentation technique”, […]
Najm wins the “Labor Excellence Award” in the Localization Track for Business Services Sector
The company has achieved a Saudization rate of 98% Riyadh, December 28, 2023 The Minister of Human Resources and Social Development H.E. Eng. Ahmad bin Sulaiman Al-Rajhi honored Najm for Insurance Services as the winner of the third edition of Labor Excellence Award in the Localization Track for Business Services Sector. This award comes as […]
Fintech Saudi Signs MoU with Kyndryl to Become an Enablement Partner in the Kingdom
RIYADH, Kingdom of Saudi Arabia, 27 December 2023 – Fintech Saudi and Kyndryl (NYSE: KD), the world’s largest IT infrastructure services company, have signed a memorandum of understanding (MoU) to help accelerate the adoption of advanced innovation among Saudi Arabia’s home-grown and locally based entrepreneurs and startups in the financial technology (fintech) industry. The collaboration is part of Fintechs Enablement Program (Makken), an initiative by Fintech Saudi and supported by […]
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ACCIONA RAMPS UP SHUQAIQ 4 AND JUBAIL 3B DESALINATION PLANTS TO FULL PRODUCTION, LOCATED IN SAUDI ARABIA
CLIMATE RESILIENCE Both desalination plants, designed and built by ACCIONA, will be one of the largest in Saudi Arabia, serving a total of 55 million people. RIYADH, DECEMBER 27, 2023. ACCIONA has achieved a key milestone in the construction of two of its main projects in the Kingdom of Saudi Arabia, Jubail 3B and Shuqaiq 4 […]
Imdaad Sets Up Refuse-Derived Fuel Plant at its FARZ facility to Convert Waste into Fuel
The innovative waste-to-fuel treatment plant can convert incombustible and unrecyclable waste into clean energy, a sustainable alternative for fossil fuels. Dubai, 25 December 2023: Reiterating its commitment to sustainability and innovation, Imdaad, one of the largest integrated facilities management companies in the Middle East, has set up an innovative refuse-derived fuel (RDF) plant in the United […]
Imdaad Enters into Strategic Partnership with Talisen Technologies to Develop Innovative Energy Management Solutions
Imtedaad, Imdaad’s energy management subsidiary, will utilize Talisen’s Enterprise Sustainability Platform to enhance the cost-effectiveness and sustainability of its technological solutions Dubai, 12 December 2023: Imdaad, a Dubai-based group of companies that provides integrated, sustainable Facilities Management (FM) services that enhance the operational efficiencies of physical assets, has entered into a strategic partnership with Talisen Technologies […]
Saudi Fund for Development Inaugurates the Arkiz Agricultural Project in support of water and food security
Mauritania, 24 December 2023 In the presence of the President of the Islamic Republic of Mauritania, H.E. Mohamed Ould Cheikh El Ghazouni, the Saudi Fund for Development (SFD) Director General of Arab Countries Operations, Eng. Bandar Al-Obaid, participated in the inauguration of the Arkiz Agricultural Project, which the Fund has contributed in financing through a development loan […]
Mastercard Economics Institute’s Economic Outlook for 2024: Empowered consumers to balance price and priority
RIYADH, Saudi Arabia; 21 December 2023: The Mastercard Economics Institute released ‘Economic Outlook 2024’, its annual report identifying the themes that will define the economic landscape. While the global economy will feel more “normal” in the coming year than the prior three, it will still be an economy seeking equilibrium, with a careful balancing of high interest rates, […]
Deloitte Partners with Fintech Saudi to Launch Makken Program
Riyadh, Saudi Arabia, 21 December 2023 – Deloitte, the leading global professional services firm, is partnering with Fintech Saudi to foster the growth of emerging companies in Saudi Arabia’s financial technology sector through the Makken Program. Saudi Fintech is an initiative by the Saudi Central Bank in collaboration with the Capital Market Authority, aiming to transform Saudi […]
Maximizing AI Potential: GoDaddy’s Guide for Small Business Entrepreneurs
JEDDAH – 21 December , 2023 – GoDaddy Inc. (NYSE: GDDY), the company that helps entrepreneurs thrive, today highlights the potentially transformative impact of Artificial Intelligence (AI) on small businesses. With AI technologies like ChatGPT gaining rapid traction, GoDaddy underscores the possibility AI offers to help elevate small business operations. Selina Bieber, Vice President for International […]
Driving Growth in 2024: The Trends that Will Define the IT Channel Landscape
Fayez Eweidat – Senior Director, META, Juniper Networks As we embark on a new year, the IT channel landscape is poised for exciting developments. In the Middle East, a region that is undergoing an enormous digital transformation, fuelled by multiple forward-thinking national initiatives that prioritise economic diversification and sustainability, these trends hold enormous potential. From vertical specialisation […]
Data residency in Saudi: MarTech leader WebEngage bets big on the Kingdom’s thriving business ecosystem
Leading marketing automation platform WebEngage has announced data residency in KSA, along with a roadmap to triple its growth in the country in 2024 with new offices and recruitment, encouraged by the demand for insights-led customer engagement from organizations of all sizes and industries December 20, Riyadh, KSA: WebEngage, the leading marketing automation platform specializing in […]
New Murabba appointed AtkinsRéalis to masterplan the world’s largest modern downtown in Riyadh, Saudi Arabia
Riyadh, Kingdom of Saudi Arabia: December 20, 2023 – The New Murabba Development Company (NMDC), a fully-owned subsidiary of the Public Investment Fund (PIF), Saudi Arabia, has appointed AtkinsRéalis (TSX: ATRL), a fully integrated professional services and project management company with offices around the world, to support the design of the New Murabba masterplan, the world’s largest modern downtown […]
Valuable Capital Group Receives RHQ License From MISA
Riyadh, KSA 20 December 2023– Value Capital Group Limited (VCGL), a leading global Fintech solution provider, has announced its acquisition of the Regional Headquarters (RHQ) license from the Ministry of Investment of Saudi Arabia (MISA). The license endows VCGL with numerous business benefits for operating within the kingdom, such as tax incentives and a range […]
REGENT and Aramex embark on sustainable cargo logistics collaboration
Dubai, United Arab Emirates December 20, 2023 – REGENT, the US-based electric seaglider manufacturer and Aramex (DFM: ARMX), a leading global provider of comprehensive logistics and transportation solutions, have announced a strategic Memorandum of Understanding (MoU) to partner on the implementation of electric seagliders for middle mile logistics. Seagliders are a new mode of transportation that combines […]
Almarai signs an MoU with the Authority of People with Disabilities to train and employ them.
RIYADH, Saudi Arabia, December 18, 2023 Almarai Company signed a memorandum of understanding with the Authority of People with Disabilities to train, qualify and employ persons with disabilities. This came on the sidelines of the First International Labor Market Conference, organized by the Ministry of Human Resources and Social Development on December 13 – 14, […]
JAGGAER Appoints Troy S. Meyers as Chief Customer Officer
Dubai, United Arab Emirates, 18 December 2023: JAGGAER, the global leader in Autonomous Commerce, has appointed Troy S. Meyers as its new Chief Customer Officer. For the past seven years, Meyers, a senior executive with experience in global SaaS and Fortune 500 organisations, has managed customer success with B2B IT SaaS companies, most notably Azalea […]
EVA Pharma Announces Groundbreaking of its Research & Manufacturing Complex in Sudair and Unveils Revolutionary Partnership with the Ministry of Investment
Riyadh, Saudi Arabia — December 17, 2023, EVA Pharma, one of the fastest-growing pharmaceutical companies in the Middle East and Africa (MEA), solidifies its unwavering dedication to the Saudi market with a series of monumental achievements. This includes the groundbreaking ceremony for the state-of-the-art pharmaceutical research and manufacturing complex in Sudair and the inauguration of its […]
Edfapay and Tamara Join Forces to Revolutionize Payment Solutions in Saudi Arabia
In a landmark collaboration that is set to change the fintech landscape in Saudi Arabia, Edfapay, a leading payment gateway partner, has announced a strategic partnership with the innovative platform, Tamara. This alliance marks a significant leap in the realm of financial technology, particularly in enhancing payment solutions for businesses and customers alike. The collaboration […]