Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
GapMaps Expands Data Directory in Saudi Arabia And Other Major Growth Markets
Comprehensive range of datasets enabling brands in QSR, Cafes, Fast Food & Fitness to optimise their network strategies in Saudi Arabia Riyadh, 31 July 2023: Cloud-based mapping software specialists, GapMaps, has expanded datasets in GapMaps Live in Saudi Arabia, and other markets across the Middle East and Asia providing brands with unprecedented insights and intelligence to strengthen […]
Social Development Bank Receives the Asian Banking & Finance Award 2023
Dulani Business Center named as “Corporate Client Initiative of the Year” Riyadh, July 30. 2023: The Social Development Bank (SDB) has been honored by Asian Banking & Finance (ABF) — the leading industry organization serving Asia’s financial services sector — for its commitment to empowering small and micro-enterprises across the Kingdom of Saudi Arabia via Dulani […]
Oman Cables Industry Sustainability Day 2023: Pioneering Sustainable Solutions for a Brighter Future
Leading the Way: Oman Cables’ Commitment to Sustainable Growth Muscat, 30, July 2023: Oman Cables Industry (OCI), the leading manufacturer of energy cables and innovative service provider in Oman, along with its strategic partner Prysmian Group, unveiled its vision for a sustainable future, highlighting the Group’s dedication to environmental responsibility, social progress and innovation. The Sustainability […]
STC Group reports record-breaking semi-annual revenues of SAR 36.5 billion, an 8.17% increase, and announces a dividend of SAR 0.40 per share for Q2 2023.
“stc Group has announced record H1 2023 revenues of SAR 36.5 billion, marking an 8.17% increase from last year. The company will distribute dividends of SAR 0.40 per share for Q2 2023. Key strategic initiatives included the acquisition of 40% of ‘Devoteam Middle East’ and the arrival of the ‘2Africa’ submarine cable. The company also emphasized its commitment to digital entrepreneurship through the ‘InspireU’ accelerator. Profits from land sales are not included in these figures.”
Saudi Fund for Development and UNDP Hold Joint Workshop on Climate Change
The Saudi Fund for Development (SFD) and the United Nations Development Program (UNDP) held a joint workshop on climate change at the SFD headquarters in Riyadh. The workshop’s objectives included knowledge and information exchange, alongside the sharing of expertise in global development. Additionally, it aimed to strengthen international development cooperation and engagement between both parties. […]
PIF and Oman Investment Authority Sign a Memorandum of Understanding To Expand Investment in the Sultanate of Oman
RIYADH, 27 July 2023 – The Public Investment Fund (PIF) announced today that it has signed a Memorandum of Understanding (MoU) with the Oman Investment Authority (OIA). The MoU is intended to expand cooperation and investment between the two entities, enabling new and promising investments in the Sultanate of Oman’s (Oman) rapidly growing economy. The MoU provides benefits […]
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ENGIE Launches Youth Development Program to Accelerate the Region’s Energy Transition
The program’s objective is to empower our youth on climate solutions, foster a just energy transition and support the decarbonization actions required today ENGIE, a global leader in low-carbon energy solutions and services, has launched its pioneer Youth Development Program: Accelerating the Energy Transition. The program stands as a powerful testament to ENGIE’s dedication in […]
JAGGAER names Eva Skidmore as its new Chief Marketing Officer
Dubai, United Arab Emirates, 26 July 2023 – JAGGAER, the global leader in Autonomous Commerce, today announces the appointment of Eva Skidmore as Chief Marketing Officer. Skidmore will oversee global marketing for the organisation and focus on driving customer demand as the company enters a new phase of growth. Eva joins JAGGAER from Salesforce, where she served […]
APSCO LAUNCHES (MOBIL INDUSTRIAL LUBRICANTS SEMINAR) TO SUPPORT CEMENT COMPANIES IN SAUDI ARABIA
In coordination with ExxonMobil, the Arabian Petroleum Supply Company (APSCO), the strategic partner of ExxonMobil in the Kingdom of Saudi Arabia and the distributer of Mobil products, engine oils, and industrial lubricants, held a seminar about industrial lubricants for the Saudi Cement Companies. The seminar addressed the latest developments related to the benefits of Mobil oils, […]
Global Corporate Innovation Firm, Rainmaking, Expands into Saudi Arabia with a Focus on Empowering the Innovation Ecosystem
July 26, 2023 -Riyadh, Saudi Arabia: Rainmaking Innovation, a global corporate innovation firm, is bringing its expertise and success to the forefront of Saudi Arabia’s burgeoning startup ecosystem. With a track record of boosting corporate innovation, accelerating co-creation with key players across the ecosystem, and running successful startup acceleration programs under the esteemed Startupbootcamp brand, Rainmaking Innovation is […]
Atos and Dynatrace Expand Partnership to Middle East to Equip Organizations with Intelligent Observability Competencies
DUBAI, United Arab Emirates, 25 July, 2023 – Atos, a global leader in digital transformation announced an expansion of its strategic partnership with Dynatrace, the leader in unified observability and security, to deliver advanced digital performance management solutions to customers in the Middle East (ME) region. Combining strengths in digital transformation, innovation and sustainability, both companies aim to create […]
Report: ‘Global scam economy’ thriving in 2023
A payments study by Javelin Strategy & Research and SAS examines digital fraud trends worldwide, revealing eight expert strategies banks, retailers and other enterprises can use to fight back Cary, NC (July 19, 2023): The COVID-19 pandemic catalyzed a digital payments revolution, forever reshaping expectations. Today’s consumers demand flexible, real-time payment options throughout their digital journeys. […]
Kyndryl and Monstarlab Partner to Fuel Customer Innovation
Collaborative co-creation to empower customers to solve challenges, transform systems and accelerate outcomes RIYADH & DUBAI, July 24 2023 – Kyndryl (NYSE: KD), the world’s largest IT infrastructure services provider, and Monstarlab, a global leader in digital transformation and innovation consulting, today announced a strategic collaboration to support customers in the Middle East to achieve their digital strategy […]
Saudi Residential Transactions Decline by 32% in H1 2023
Saudi Arabia | 25th July 2023: Global real estate consultancy Knight Frank has released its Saudi Residential Market Review – Summer 2023. According to the report, the residential sector experienced a significant decline in transactions during the first half of 2023, with a 32% decrease compared to the previous year. The report reveals that approximately 70,000 transactions were […]
Web3 Remains Highly Relevant for Private Equity in the Middle East
By Brahim Laaidi, Partner, Bain & Company, and Thomas Olsen, Global Co-lead of Web3 and Metaverse Practice, Bain & Company Watching almost $3 trillion in web3-related asset value shrink by more than 70% is unnerving, to say the least. But the rise and fall of crypto isn’t really the issue. What counts are the core underlying technologies […]
Tamam Finance Partners with Lean Technologies to Bolster Digital Capabilities and Enhance Customer Experience
Riyadh, Saudi Arabia In a significant stride towards strengthening its digital capabilities and customer service, Tamam Finance, the first Saudi firm to obtain a consumer microfinancing license from the Saudi Central Bank (SAMA), has signed a Memorandum of Understanding (MoU) with Lean Technologies. This partnership is set to introduce open banking services that simplify finance […]
FedEx Enhances International Priority® Service in UAE and Saudi Arabia
Enhanced transit times to meet diversified market demands and support businesses tapping global markets Riyadh, Kingdom of Saudi Arabia, July 24, 2023 – FedEx Express, a subsidiary of FedEx Corp. (NYSE: FDX) and the world’s largest express transportation company, announced the enhancement of its International Priority® (IP) service in an effort to improve the efficiency of […]
Dynatrace Announces Expanded Multi-Year Consumption Commitment and Go-To-Market Partnershipwith Microsoft
Joint sales and marketing initiatives and deep technical integrations to drive accelerated, global adoption of the Dynatrace platform native on Microsoft Azure WALTHAM, Mass., July 24, 2023 – Dynatrace (NYSE: DT), the leader in unified observability and security, announced an expanded multi-year consumption commitment and go-to-market (GTM) partnership with Microsoft, with joint sales enablement and marketing, including campaigns, events, webinars, […]
Arthur D. Little’s Latest Blue Shift Report Reveals the Game-Changing Potential of the Industrial Metaverse to Simulate Strategy
Dubai, UAE, 25 July 2023: Arthur D. Little (ADL), the world’s first management consulting firm, launched its highly anticipated Industrial Metaverse report under the Blue Shift banner. Titled “The Industrial Metaverse: Making the invisible visible to drive sustainable growth”, the report provides valuable insights into the developing concept of the Industrial Metaverse, its potential impact on various sectors, […]
Dell Technologies study reveals that Saudi innovation leaders are 2.8X more likely to accelerate their way through economic uncertainty
Riyadh, KSA – July 25, 2023 The Dell Technologies Innovation Index, a new study polling 6,600 employees across 45+ countries, reveals that businesses are confident in the strength of their organization’s innovation in the face of global challenges. In Saudi Arabia, a majority (93%) say that they agree their business has a vibrant culture of innovation, […]
Saudi Fund for Development signs a $10 million loan agreement to construct business incubation centers in the Bahamas
Riyadh, 20 July 2023 The Saudi Fund for Development (SFD) Chief Executive Officer, H.E. Sultan Al-Marshad, signed today the first development loan agreement worth $10 million in SFD’s headquarters in Riyadh with Hon. Isacc Chester Cooper, Deputy Prime Minister and Minister of The Bahamas Ministry of Tourism, Investments & Aviation. The agreement will involve the construction of […]
PIF Establishes Sawani Company to Unlock the Potential of Saudi Camel Dairy Industry
Riyadh- July 20, 2023: The Public Investment Fund (PIF) has announced the establishment of Sawani Company (Company or Sawani) to enable the growth of the Saudi camel farming industry and actively contribute to its sustainable development. The Company aims to be a leading producer of camel dairy products, supporting Saudi Arabia’s wider Food and Agriculture […]