Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
Under the Patronage of H.E., the Governor of the Saudi Central Bank, The Kingdom is hosting ‘Seamless Saudi Arabia 2023’
Saudi Arabia, Riyadh –August 24, 2023 Under the patronage of His Excellency Ayman Mohammed Al-Sayari, the Governor of the Saudi Central Bank, the Kingdom of Saudi Arabia is hosting the ‘Seamless Saudi Arabia 2023’ conference and exhibition in Riyadh on September 4 and 5. The event will be held through a strategic partnership with Saudi Payments, […]
HONEYWELL RESEARCH INDICATES ARTIFICIAL INTELLIGENCE WILL SHAPE GLOBAL RETAIL OVER THE NEXT 12 MONTHS
ABU DHABI, United Arab Emirates, August 22, 2023 – According to a new survey released today by Honeywell (Nasdaq: HON), nearly six in 10 retailers plan to adopt artificial intelligence (AI), machine learning (ML) and computer vision (CV) technologies over the next year to enhance the shopping experience offered within stores and online. The research also indicates […]
Dell Technologies Launches Partner First Strategy for Storage
Dubai, UAE – August 22, 2023 – Dell Technologies today announced its Partner First Strategy for Storage, which designates more than 99 percent of Dell’s customers and potential customers as partner-led for storage sales. This new go-to-market strategy combines partner expertise and reach with Dell’s world-class team and storage portfolio, including data protection, to deliver transformational outcomes […]
Nutanix Promotes Talal Al-Saif as Regional Sales Director for Central Gulf and Egypt
RIYADH KSA, 22nd August 2023 – Nutanix (NASDAQ: NTNX), a leader in hybrid multi-cloud computing, today announced the appointment of Talal Al-Saif to Multi Sub-Regional Sales Director, responsible for the sub-regions of Central Gulf (Saudi, Qatar, and Bahrain) and Egypt. Based in Saudi, Talal will focus on driving regional digital transformation initiatives, delivering higher customer and partner satisfaction levels, […]
NKK Investments and UrbanKisaan collaborate to transform agriculture in Oman, UAE & Saudi
August 21st, 2023: Riyadh, Saudi: Nailesh Kanaksi Khimji (NKK) Investments, a visionary company in the AgriTech, Green Hydrogen, and Sustainability sectors, has announced a strategic partnership with UrbanKisaan, an acclaimed Agri-tech startup from United States, with its research center in India. This alliance is set to transform hydroponic farming practices in Oman, UAE, and Saudi Arabia. […]
Statement made by the Saudi insurance sector’s spokesperson on Cabinet’s decision to establish the Insurance Authority
Riyadh, August 20.2023 Adel Al-Eisa, Media Spokesman for Insurance Companies, said: “The Cabinet’s decision to establish the Insurance Authority underlines the Kingdom’s commitment to building and developing a worldclass insurance sector — one set apart by established best practices and international standards. The launch of the Authority marks the latest step taken by the Kingdom to […]
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Saudi Fund for Development breaks ground for the Bridge of the Mangoky River in Madagascar
Madagascar, 18 August 2023 In presence of the President of the Republic of Madagascar, H.E. Andry Rajoelina, the Saudi Fund for Development (SFD), represented by the General Manager for Africa Operations, Mr. Mohammed Alshammari, laid the foundation stone today to kick off the construction of the new Mangoky Bridge in Madagascar. The Mangoky Bridge will […]
Shanghai Lujiazui Financial City Authority opens new office in Saudi Arabia’s KAFD, Strengthening Sino-Arab Ties
● KAFD and eWTPA signed an MoU with SLFCA for further cooperation between Riyadh and Shanghai ● SLFCA’s office to serve as Shanghai’s primary point of contact in Riyadh ● eWTPA signed a strategic agreement with SLFCA on developing an investment cooperation platform. Riyadh, Saudi Arabia, Aug 17, 2023 – In […]
FedEx Launches Regional Economy Services in the Middle East
New service meets growing demand for diverse and cost-effective shipping solutions Saudi Arabia, August 16, 2023 – FedEx Express, a subsidiary of FedEx Corp (NYSE: FDX) and the world’s largest express transportation company, has launched FedEx® Regional Economy and FedEx® Regional Economy Freight services to cater to the increasing demand for cross-border trade in the Middle East region. The […]
Yarn Cloud: Empowering Sustainable Property Management in Alignment with Saudi Vision 2030
Yarn Cloud, a Saudi-based pioneer in Property Management Solutions (Proptech), proudly renews its commitment to Saudi Arabia’s Vision 2030. Through innovative technologies, Yarn Cloud aligns with the Kingdom’s ambitious goals for digitalization, economic diversification, and enduring growth. While not a direct collaborator, Yarn Cloud’s mission closely echoes the Saudi Facility Management Co. (FMTECH), an initiative […]
Revolutionizing Digital Banking: HUAWEI AppGallery Collaborates with Top Banking Apps in KSA
15th August 2023, Riyadh KSA: In an era of rapid technological advancement, Huawei Mobile Services (HMS) has emerged as a trailblazer in forging collaborative relationships with some of the most influential banking applications in the United Arab Emirates (UAE). Among its notable partners are Al Rajhi Bank, SNB Bank, Riyadh Bank, Alinma Bank, AlBilad Bank. This symbiotic connection […]
Mastercard in collaboration with SAB announces the USD 30,000 grant winner of ‘Her Voice’
Riyadh, Kingdom of Saudi Arabia; 13 August 2023 – In May 2023, Mastercard announced the return of ‘Her Voice’ podcast series, a platform empowering small businesses in the Saudi Arabia. To further extend additional value to women entrepreneurs across the Kingdom, Mastercard partnered with SAB to offer an outstanding female entrepreneur the opportunity to be featured […]
MENA IPO momentum continues into Q2 2023 with 13 deals raising $US1.8b
Dubai, UAE – 08 August 2023: According to the EY MENA IPO Eye Q2 2023 report, IPO activity in the MENA region continued to gather momentum with a total of US$1.8b in proceeds from 13 IPOs – a 44% increase in the number of listings but an 80% drop in proceeds when compared to Q2 2022. The growth […]
Dell Technologies Launches Partner First Strategy for Storage
Dubai, UAE – August 08, 2023 – Dell Technologies today announced its Partner First Strategy for Storage, which designates more than 99 percent of Dell’s customers and potential customers as partner-led for storage sales. This new go-to-market strategy combines partner expertise and reach with Dell’s world-class team and storage portfolio, including data protection, to deliver transformational outcomes […]
Zain KSA Realizes Record Half-Year Revenue and Net Profit
Achieving 687 Million Riyals in Net Profit Zain KSA achieved its highest half-year profit ever during the first half of 2023, amounting to SAR 687 million, a 221% increase compared to the first half of 2022. The increase in profit is attributed to a growth in revenue during the first half of the year to […]
Saudi Fund for Development Signs a USD $77 Million Loan Agreement in Belize to Construct the Solar Energy Plant Project
Belize, 05 August 2023 The Saudi Fund for Development (SFD) Chief Executive Officer, H.E. Sultan Al-Marshad, signed today a new development loan agreement worth USD $77 million with the Prime Minister of Belize, Hon. John Briceño, to fund the “Construction of the Solar Energy Plant Project” in Belize, through SFD. The signing ceremony was also attended by […]
Cyble Secures $24M in Series B Funding to Further Advance its AI-Powered Threat Intelligence Solutions
ATLANTA–(BUSINESS WIRE)– Cyble, the fastest-growing threat intelligence provider that blends cybersecurity and artificial intelligence to develop state-of-the-art threat intelligence solutions, announced a $24 million injection of capital through Series B funding. Cyble has been steadily gaining recognition as the favored solution for Dark Web and Threat Intelligence among cybersecurity specialists, solidifying its position as the champion of a […]
Saudi Fund for Development CEO visits Saint Vincent and the Grenadines following the signing of two loan agreements
Saint Vincent and the Grenadines, 2 August, 2023 As part of their visit to the Caribbean region, the Saudi Fund for Development (SFD) Chief Executive Officer, H.E. Sultan Al-Marshad, and his accompanying delegation, visited Saint Vincent and the Grenadines, where they met with the Prime Minister of Saint Vincent and the Grenadines, Hon. Ralph E. […]
Alinma Pay and Huawei Mobile Services (HMS): Revolutionizing the Digital Payment Landscape in Saudi Arabia
2nd August, Dubai UAE: In December 2019, Alinma Pay, a leading digital payment app from Saudi Arabia, embarked on a groundbreaking collaboration with Huawei Mobile Services (HMS) to bring secure and convenient digital transactions to Huawei users in Saudi Arabia. This partnership marked a significant milestone for Alinma Pay, as it became one of the earliest […]
Amid macro uncertainty, investors have ample incentive to get moving, reveals Bain & Company’s Private Equity Midyear Report 2023
A full 12 months of relative inactivity is creating pressure on the private equity industry to find ways to return more capital to limited partners DUBAI—August 1st, 2023— Bain & Company’s Private Equity Midyear Report 2023 shows that after four quarters of relative inactivity, investors have ample incentive to get moving. With the clock ticking on a […]
Forbes Middle East Unveils The Trailblazing Top 100 Arab Family Businesses 2023
Paving the way for a new era in the Arab world. Dubai, August 1, 2023: Forbes Middle East has revealed its flagship annual list of the Top 100 Arab Family Businesses for 2023, showcasing MENA’s most exceptional legacy businesses that have not only endured through generations but are now making waves on the region’s stock markets. Determined to […]
Saudi Fund for Development breaks ground for the Library of the University of Sarajevo
Bosnia and Herzegovina, 31 July 2023 The Saudi Fund for Development (SFD) Board of Directors Chairman, H.E. Ahmed Al-Khateeb, laid the foundation stone today, to kick off the construction and equipping of the new library in the University of Sarajevo, in the presence of the Minister of Foreign Affairs of Bosnia and Herzegovina, H.E. Elmedin […]