Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
Ahmad Al Salamah to lead Raytheon Saudi Arabia as Managing Director
Riyadh, October 3, 2023 – Raytheon Saudi Arabia, an RTX business headquartered in Riyadh, announced the appointment of Ahmad Al Salamah as Managing Director. A seasoned aerospace and defense industry veteran, Al Salamah will be responsible for advancing the company’s business growth objectives, supporting the Kingdom’s defense capabilities, and building on the ongoing defense localization […]
ClearTax Dominates the Saudi Arabia Market for E-Invoicing, Expanding Its Footprint and Product Portfolio
Riyadh, Saudi Arabia; 4th October, 2023: ClearTax, a leading global SaaS platform launched in KSA in 2021 and reaching over 5K large-scale businesses across the globe, today announced its enhanced functionalities which further support Saudi businesses to comply with the Kingdom’s tax requirements. ClearTax is at the forefront, delivering cutting-edge products and services tailored to the needs of businesses […]
ROSHN Group Marks Another Milestone with Ground-breaking of WAREFA, it’s second Humanized Community in Riyadh
• Under the patronage of Riyadh Governor HRH Prince Faisal bin Bandar bin Abdulaziz, ROSHN breaks ground on second mixed-use Residential Community in Riyadh, located in the promising district of Al Janadriyyah• 1.4m km2 WAREFA community to extend the ROSHN vision for a new way of living and extensive amenity offering to a new location […]
Ninety-Nine Percent of IT Decision Makers Surveyed in Saudi Arabia Consider Automation of Networking Solutions Crucial to Lead the Experience Economy
Survey by Juniper Networks provides insights on the level of digital maturity, value of an intelligent network and AI-driven IT skills Riyadh, Kingdom of Saudi Arabia, October 3, 2023 – Juniper Networks, a leader in secure, AI-driven networks, today announced the findings of a survey based in Saudi Arabia examining the understanding of the experience economy […]
SADAFCO Partners with NTSC to Drive Fleet Decarbonization and a More Sustainable Future
Saudi Arabia, Jeddah, October 4: SADAFCO, a prominent food manufacturer, seller, and distributor with a strong presence in Saudi Arabia and operations across the Middle East, announces a strategic partnership with the National Transportation Solutions Company (NTSC) to advance its sustainability 2030 vision. This partnership aims to significantly reduce carbon emissions and establish a future driven […]
Deloitte hosts inaugural Financial Crime Symposium in Riyadh, KSA
Riyadh, Kingdom of Saudi Arabia, 3 October 2023 – Deloitte hosted its first Financial Crime Symposium in Riyadh, KSA, bringing together key stakeholders and representatives from across different sectors within the Anti-Financial Crime ecosystem. This symposium served as a platform for industry experts to actively participate in panel discussions, where they explored the most recent regulatory changes and […]
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Salt Edge and SeaPay join forces to empower Saudi Arabian merchants with open banking solutions
In a significant move towards advancing digital technology and open banking in the Kingdom of Saudi Arabia, SeaPay, a leading Omni-Channel Payment Solutions provider, has announced a strategic partnership with Salt Edge, a renowned financial technology company. This collaboration aims to provide local merchants in Saudi Arabia with innovative open banking solutions, aligning with the […]
Dubai Islamic Bank enhances customer experience and modernizes core banking platform with HPE GreenLake
The UAE’s most prominent Islamic financial service provider selects HPE GreenLake and HPE Aruba Networking to deliver a unified user experience, simplified operations, seamless scalability, and comprehensive network security throughout the business. Dubai, United Arab Emirates – October 03, 2023 – Hewlett Packard Enterprise (NYSE: HPE) today announced that Dubai Islamic Bank (DIB) had selected the HPE GreenLake edge-to-cloud platform to modernize their core […]
FedEx Express Showcases Cutting-Edge Solutions for the Energy Industry at ADIPEC
Abu Dhabi, UAE, October 3, 2023: FedEx Express, a subsidiary of FedEx Corp. (NYSE: FDX) and the world’s largest express transportation company, is presenting its innovative shipping solutions for the energy industry at the Abu Dhabi International Petroleum Exhibition & Conference (ADIPEC), held from October 2 to 5, 2023, under the theme ‘Decarbonizing. Faster. Together’. In […]
SVC Announces $30 Million Investment in IMPACT46’s Fund III
Saudi Venture Capital (SVC) announced its investment of $30 million in Fund III managed by IMPACT46, a prominent asset management and advisory firm, which was among the first to receive authorization from the Capital Market Authority (CMA). Fund III will invest in Saudi growth-stage companies and up to pre-IPO stage businesses, with an allocation to […]
Moro Hub Successfully Concludes Its Second Edition of Digital Transformation Summit
Dubai, UAE, 3 October 2023: Moro Hub, a subsidiary of Digital DEWA, the digital arm of Dubai Electricity and Water Authority (PJSC), successfully concluded the second edition of its Digital Transformation Summit. Held at the InterContinental Dubai Festival City Hotel, the summit brought together industry leaders, technology experts, and forward-thinking professionals to explore the future of […]
EY celebrates 100 years in MENA
Dubai, UAE – 2 October 2023: EY celebrates 100 years of operation in the Middle East and North Africa (MENA), having established its first regional office in 1923. The MENA practice of EY has grown to over 8,000 people united across 26 offices and 15 countries. EY welcomed 106 new partners across the Assurance, Consulting, Strategy […]
Kyndryl Study: 70% of C-Suite Executives of GCC Financial Services Institutions Shift to a Digital-First Business Model
Skills gap among the top challenges to digital-first journeys 02, October 2023 – Kyndryl (NYSE: KD), the world’s largest IT infrastructure services provider, today released a new study conducted by the International Data Corporation (IDC). The study revealed that 70% of surveyed Chief Information Officers (CIOs) within financial institutions in the Gulf Cooperation Council (GCC) countries plan on […]
Saudi Arabia honors winners of Global Prize for Innovation in Desalination
American Syed Shah wins grand prize as 105 innovators from 27 countries compete to win prizes worth $10 million JEDDAH – October 1st, 2023: Saudi Arabia’s Minister of Environment, Water and Agriculture Eng. Abdulrahman Al-Fadhli honored on Saturday the winners of the Global Prize for Innovation in Desalination. The minister presented the grand prize to Syed Shah […]
ROSHN Group Unveils Sales for SEDRA Phase 3: The New Chapter in Riyadh’s Premier Residential Destination.
• SEDRA 3 will eventually add another 3,438 homes and an array of new health, education, leisure, sporting and entertainment options to ROSHN’s landmark, 20 million square metre residential development• Spread over 1.8 million square kilometres, SEDRA 3 offers direct access to ROSHN Front and facilities across the community RIYADH, 1 October 2023: ROSHN Group, […]
Scottish companies set to showcase world-leading energy transition innovations at ADIPEC in Abu Dhabi
Scotland begins its build-up to COP28, highlighting its leadership in decarbonising energy systems and identifying ways to help the world reach net zero Abu Dhabi, UAE – October 1st, 2023: Twenty-four innovative Scottish companies will showcase Scotland’s outstanding strengths in delivering energy transition at this week’s ADIPEC event in Abu Dhabi. Across carbon capture and storage, […]
Global Report Reveals DevOps Automation is Becoming a Strategic Imperative for Large Organizations, but Only 38% Have a Clear Strategy for Implementing It
Automation is helping teams improve software quality and reduce costs, yet organizations have only automated 56% of their DevOps lifecycle WALTHAM, Mass., October 1, 2023 – Dynatrace (NYSE: DT), the leader in unified observability and security, today announced the findings of an independent global survey of 450 IT practitioners responsible for DevOps and security automation in large organizations. […]
Porsche pleased with first year after IPO
Stuttgart/Dubai. Porsche AG is looking back on its first year after its much-anticipated IPO on 29 September 2022. “Today, we can say that our IPO has been a huge success. It’s good for our customers, our shareholders and our employees as well,” says Chairman of the Executive Board Oliver Blume. “With the greater entrepreneurial freedom and flexibility, we […]
Saudi Fund for Development signs two development loan agreements to enhance social infrastructure in Seychelles
Seychelles, 29 September 2023 The Saudi Fund for Development (SFD) Chief Executive Officer, H.E. Sultan Al-Marshad, signed two new development loan agreements with the Minister of Finance, National Planning and Trade of the Republic of Seychelles, Hon. Naadir Hassan, through which SFD is contributing $25 million to fund the “Social Housing Project” and the “Reconstruction […]
Finastra outlines key takeaways from Sibos 2023 about the future of trade finance
Collaboration and the right technology are key to overcome the challenges of digital trade and to accelerate ESG initiatives Dubai, UAE – September 28, 2023 – Finastra, a global provider of financial software applications and marketplaces, exhibited at Sibos last week, where industry experts shared valuable insights about trends in financial services. In particular, the future of trade was […]
Saudi Fund for Development Signs a Contribution Agreement with the Asian Infrastructure Investment Bank to Support Less Developed Countries
Sharm El-Sheikh, 26 September 2023 The Saudi Fund for Development (SFD) Chief Executive Officer, H.E. Sultan Al-Marshad signed today with the Asian Infrastructure Investment Bank (AIIB) Vice President of Policy and Strategy, Sir Danny Alexander, a US $10 million Contribution Agreement provided by the Kingdom of Saudi Arabia through SFD, to support the Special Fund […]
SAS Innovate on Tour: Revolutionizing Decision-Making with More Productive, Faster and Trustworthy AI and Analytics
Riyadh, Kingdom of Saudi Arabia, 27 September 2023: SAS Innovate, the exclusive global event series hosted by analytics leader SAS, visited Riyadh on September 27, 2023, to demonstrate how Saudi Arabian businesses can make data-driven, faster, and unbiased decisions based on AI and analytics. Held at the Crowne Plaza Riyadh Rdc Hotel & Convention, the Riyadh edition of SAS Innovate on Tour featured […]