Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
Huawei Cloud FinTech Summit Unveils Pangu Finance Model in Abu Dhabi
Dubai, UAE, December 01, 2023: In a groundbreaking move, Huawei Cloud unveiled the Pangu finance model and the distributed database GaussDB tailored to the financial industry at the Huawei Cloud FinTech Summit Middle East and Central Asia 2023, held during the Abu Dhabi Finance Week (ADFW) in the United Arab Emirates. This marks the first time […]
Scotland gears up for participation at COP 28 with 21 businesses and organisations joining official delegation
Dubai, UAE – December 1, 2023: Scotland kicked off its COP 28 activity yesterday with a St Andrew’s Day Reception following the first day of the conference. The First Minister, Humza Yousaf, joined 21 Scottish businesses and organisations in the food and beverage sector at the VIP business event, who showcased their products, with support […]
Abu Dhabi Chamber supports the business ecosystem by concluding strategic partnerships during Abu Dhabi Finance Week 2023
30 November, 2023, Abu Dhabi – UAE: The Abu Dhabi Chamber of Commerce and Industry concluded its successful participation in the Abu Dhabi Finance Week – ADFW 2023 as supporting partner. Held under the patronage of His Highness Sheikh Khalid bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu […]
Checkout.com appoints Standard Chartered as banking partner in MENA
A dynamic collaboration pioneering the future of digital commerce 29 November 2023 – Dubai, United Arab Emirates: Checkout.com, the global payments service provider, announced today a strategic partnership with Standard Chartered as their cash management bank to bring improved operational and performance to Checkout.com’s merchants in the region. The partnership leverages state-of-the-art technology to seamlessly integrate […]
Valuable Capital Financial Company joins Saudi Exchange Tadawul as new member
Riyadh, Nov. 29, 2023 — Valuable Capital Financial Company (VCFC), a portfolio company of PIF-backed private equity firm eWTPA, announced that it has become a registered member of the Saudi stock exchange, Tadawul, as well as its affiliates, the Securities Depository Center Company (Edaa) and the Securities Clearing Center Company (Muqassa). A ceremony was held in […]
Kyndryl’s 2024 Technology Predictions: Modernizing Enterprise Management with Integration, Efficiency and Automation
Dubai, UAE – 29th November 2023: Kyndryl (NYSE: KD), the world’s largest IT infrastructure services provider, recently celebrated its second anniversary as an independent, publicly traded company. Marking this milestone, the company reaffirmed its commitment to supporting our customers’ organizations and business partners in Middle East and Africa as they strive to modernize, transform and scale while building […]
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Ahead of COP28, New Global SAP Survey Shows KSA Companies are at Forefront in Recognizing Business Benefits of Sustainability Strategies
RIYADH, KSA — November 29, 2023 — As the Middle East hosts the UN Climate Change COP event for the second year in a row, a new survey from global technology company SAP SE has highlighted the success of the Kingdom of Saudi Arabia’s deep commitment to sustainability. Investment in environmental strategies has increased significantly over the past five years, with […]
EY ESG MENA Bank Tracker: Nearly three-quarters of top MENA banks have introduced ESG strategies
Dubai, UAE – 29 November 2023: According to the inaugural EY ESG MENA Bank Tracker report Bridging the gaps: ESG governance to climate action, nearly three-quarters of the MENA banks analyzed have developed ESG strategies, showcasing the growing recognition of the significance of ESG factors in the region’s banking sector and underscoring the commitment of MENA banks to […]
Dell Technologies Forum to Help Saudi Businesses Transform Ideas into Innovation
Riyadh, KSA – November 29, 2023: Dell Technologies is hosting the Dell Technologies Forum in Saudi Arabia on November 29, 2023 at Al Faisaliah Hotel in Riyadh. Under the theme of “Transforming Ideas into Innovation Faster,” the forum aims to be a catalyst for empowering organizations in Saudi Arabia to seize new digital-first opportunities and […]
Jada Fund of Funds Unveils its First Investment in Private Credit with a USD 250 Million Fund
Riyadh, Saudi Arabia –28 November 2023: Jada Fund of Funds Company has announced its first investment in private credit with an investment in Ruya Partners’ USD 250 million (SAR 938 million) fund and commits to further support private credit market in the Kingdom with additional investments in the near future. The move affirms Jada’s commitment to supporting SMEs in the […]
Ajman Bank collaborates with Mastercard to introduce cross-border payment services
Dubai, UAE; 28 November 2023: Ajman Bank has initiated a strategic partnership with Mastercard to launch cross-border payment services for person-to-person (P2P) fund transfers through Ajman Bank’s Digital Banking application. With this collaboration, the bank will provide real-time remittances across more than 40 countries worldwide through its digital banking platform. As part of Ajman Bank’s digital strategy, one of […]
Taj Dhabi awarded two new developments in KAFD
Riyadh, Saudi Arabia, 28 November 2023 – Taj Dhabi, a subsidiary of Trojan Construction Group, has been awarded the Design and Build contract for two new developments in KAFD, Saudi Arabia’s prime business district, located in the heart of Riyadh. Marking the occasion with a signing ceremony at KAFD were Gautam Sashittal, Chief Executive Officer of the King Abdullah Financial District Development and Management […]
Danfoss joins First Movers Coalition and commits to drive global development of sustainable aluminum
The World Economic Forum has announced that Danfoss has joined the First Movers Coalition (FMC), a global coalition to decarbonize hard-to-abate industries. Danfoss joins the FMC aluminum sector, committing that at least 10% (by volume) of all the company’s primary aluminum procured per year will be low-carbon by 2030. Additionally, Danfoss commits to ensuring that […]
Zajel Strengthens Global Presence with Membership in IATA-NAFL, JC Trans Elite, and DF Alliance by DP World
(Dubai, November 27th) Zajel, a prominent player in the logistics and courier services industry, is delighted to announce its official membership in three distinguished international alliances— the International Air Transport Association (IATA)-National Association of Freight and Logistics (NAFL), JC Trans Elite, and DF Alliance by DP World. This strategic initiative is aimed at bolstering networking […]
Saudi Arabia leads adoption of AI in financial services closely followed by UAE, says Finastra global survey
Dubai, UAE and Riyadh, Saudi Arabia – November 27, 2023 – Finastra’s annual global survey reveals that despite economic constraints, financial institutions in the UAE and Saudi Arabia are among the global leaders in investment in artificial intelligence (AI), Banking as a Service (BaaS) and embedded finance. The ‘Financial Services: State of the Nation Survey 2023’ finds that […]
Canon Middle East and Turkey poised for 11% growth in 2023, eyes double-digit growth in 2024
Dubai, UAE, 27 November 2023: Canon Middle East and Turkey has set its sights on robust growth, projecting 11% revenue growth in 2023. Driven by its commitment to serve the ‘Customer of Tomorrow’, the company anticipates double-digit growth in both consumer and business product segments in 2024. Canon continues to invest more than 8% of its […]
Beltone’s Operating Revenue Hits EGP 957 Million in 2023 with Impressive 271% Growth YoY – Net Profit Soars to EGP 86 Million, Marking a 161% Increase and Major Turnaround After 3 Years of Losses
Cairo, November 27, 2023: Beltone Financial Holding (“Beltone” or “the Company”), one of the fastest growing financial institutions, announces its consolidated financial and operational results for the period ending September 30, 2023. Beltone’s new management embarked on a journey of restructuring and transformation, following the acquisition. Many functions were revamped, policies and procedures were deployed, […]
Energy efficiency technology can help refineries abate up to 400 million tonnes of CO2 per year
Vital emissions abating technology can have almost immediate impact on petroleum industries carbon footprint Reducing fouling remains the ‘neglected fix’ in race to abate global emissions Dubai, UAE – 27 November 2023: Ahead of key environmental discussions at COP28, DecarbonX, an Angara initiative driving decarbonisation solutions for petroleum infrastructure, calls for urgent action from the petroleum industry […]
MOHAMMED YOUSUF NAGHI MOTORS – JLR SIGNS STRATEGIC AGREEMENT WITH EMKAN FINANCE
to offer innovative payment options for its customers in the after-sales service sector Riyadh, KSA, 22 Nov. 23: Mohamed Yousuf Naghi Motors Co, the official retailer for Jaguar Land Rover vehicles in Saudi Arabia, has announced a significant strategic agreement with EMKAN Finance, a fintech company, specialized in providing convenient financial solutions. The aim of this […]
Huawei Cloud’s “Go Cloud, Go Middle East” Roadshow Empowers Chinese Enterprises for Expansion in the Middle East
Middle East, November 26, 2023 – At its inaugural “Go Cloud, Go Middle East” roadshow series, Huawei Cloud empowered Chinese enterprises to expand in the rapidly evolving Middle East market. The comprehensive series unfolded across key cities in China, including Shenzhen, Shanghai, Hangzhou, and Beijing during November. Each event emphasized specific sectors – AIGC, VC, media & […]
The Digital Cooperation Organization Launches the Digital Space Accelerators to Foster Sustainable Inclusive Digital Economy Growth
Riyadh, 23 November 2023 – In a strategic move to catalyze innovation and cooperation across the global digital ecosystem, the Digital Cooperation Organization (DCO) announces the launch of the Digital Space Accelerators (DSA). The DSA is an innovative cooperation mechanism that brings together experts and decision-makers from various sectors, including governments, private enterprises, and international entities. The […]
“The Saudi-Egyptian Real Estate Investment Conference” concludes activities
Multiple discussions on integration between Egyptian and Saudi developersPrecise scrutiny of challenges and opportunities in both CountriesAbdul Rahman Al-Taweel: The Kingdom leading real estate investor in Egypt with investments exceeding $55 billionAhmed Sabour: The conference served as a bridge for exchanging experiences among real estate developers in both countries and achieved its goalsAhmed Shalaby: Egyptian […]