Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
Riyadh prepares to host the 10th Edition of Arab-China Business Conference
Riyadh, May 30, 2023: Saudi Arabia’s Ministry of Investment and Ministry of Foreign Affairs are preparing to host the 10th Arab-China Business Conference and the 8th Investment Symposium from June 11-12 in Riyadh. This year’s conference is anticipated to be the largest of its kind, with more than 2,000 attendees. Under the theme “Collaborating for Prosperity,” the two-day forum will see participation by senior government representatives and global […]
Checkout.com highlights importance of payment and revenue optimization in digital transformation report
Dubai, UAE, 30 May 2023 — In the MENA region’s rapidly evolving digital economy, a large opportunity still remains for merchants to improve their bottom line through digital payments, according to a report released by Checkout.com. The ‘Seizing the Digital Opportunity in MENA 2023’ report—part of Checkout.com’s annual MENA Report series—acknowledges how the region’s digital economy has […]
SADAFCO Announced Amongst the “15 Best Workplaces to Grow a Career” in KSA
Saudi Arabia, Jeddah, May 28th 2023 – Saudia Dairy and Foodstuff Company (SADAFCO), the leading food manufacturer, seller and distributor based in Saudi Arabia with operations across the Middle East has been ranked as the 10th Best Workplace to grow a career in the Kingdom amongst a list of 15 companies that make up LinkedIn’s Top Companies list. […]
The National Security Services Company (SAFE) announces its acquisition of ABANA Enterprises Group Company’s assets connected to the transit of cash and valuable goods
• Turki Bin Matooq Al Thonayan: The deal embodies our ambitious expansion plans.• The acquisition agreement enhances (SAFE)’s services portfolio in local and regional markets by providing services for the transit of cash and valuable goods. [Riyadh – Saudi Arabia, May 22, 2023] – The National Security Services Company (SAFE), which leads the transformation of […]
inspireU from stc enables over 90 startups that succeeded in getting total investments of more than SAR 700 million
Riyadh, Saudi Arabia, May 24, 2023: stc Group, an engine of digital transformation in the region, announces that inspireU’s enablement to more than 90 startups since inception resulted in more than SAR 700 million of total investment gathered by Saudi entrepreneurs. The group also announced the expansion of the accelerator by launching a new track that provides […]
Bloom Holding Launches ‘Casares’ – The Third Phase of Bloom Living
Bloom Holding, one of the UAE’s foremost real estate development companies, has announced the launch of ‘Casares,’ the third phase of its fully integrated and all-inclusive community in Abu Dhabi, Bloom Living.The launch of Casares follows the remarkable success of the first phase, Cordoba, and the second phase, Toledo, which are on track to be […]
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PepsiCo and UEFA Unveil a Series of Innovative Sustainable Food & Beverage Practices at the 2023 UEFA Champions League Finals
The ground-breaking collaboration supports the aim of producing the first zero waste to landfill UEFA Finals by 2026 Dubai, UAE, May 22, 2023– PepsiCo, in partnership with UEFA (Union of European Football Association), is finding innovative ways to achieve the goal of making UEFA Champions League Finals zero waste to landfill by 2026, through the […]
Revolutionizing Digital Commerce: Dubai Gears Up for Seamless Middle East 2023 Amid Booming MENA E-commerce Market
Payments and e-commerce in the MENA region is booming, the market size is expected to reach US$57 billion in 2026. At the heart of this region is Dubai, this city is at the forefront of the MENA market and is the crucial gateway for companies to get involved in this astronomically fast-growing sector. Seamless Middle […]
BKN301 Group goes live with Finastra to roll out a Banking as a Service solution
Finastra’s Essence has enabled BKN301 Group to bring new digital payments capabilities to San Marino and accelerate its deployment of a Banking as a Service solution for the MENA region Dubai, UAE – May 16, 2023 – Finastra, a global provider of financial software applications and marketplaces, announces that BKN301 Group, a fintech committed to creating a world without financial barriers, […]
Agility Reports KD 15.3 Million Net Profit for the First Quarter 2023
Q1 2023(Million KD) Q1 2022(Million KD) Variance(%) Revenue 320.5 132.1 142.7% Net Revenue 187.1 67.1 178.6% EBITDA 60.4 33.9 78.1% Net Profit 15.3 12.8 20.0% EPS (fils) 6.00 5.06 18.6% Numbers above are rounded KUWAIT – May 15, 2023 – Agility, a long-term investor and operator in supply chain services, infrastructure, and innovation, today reported first quarter 2023 earnings […]
Swift Securities View rapidly gains momentum in drive towards seamless post-trade settlement
Brussels, 17 May, 2023 – Swift today announced strong and growing momentum for its new Swift Securities View service, which launched in January to bring a new level of transparency to post-trade processing and reduce costly settlement fails. Already 34 of the world’s leading financial institutions – which collectively represent more than 630 million securities transactions […]
SHUQAIQ 3 SWRO RECOGNIZED BY THE GLOBAL WATER INDUSTRY
GLOBAL WATER AWARDS The Global Water Awards recognize major achievements in the water sector in the previous year. In this edition, SHUQAIQ 3 SWRO has been awarded the Desalination Plant of the Year category, which represents a milestone in sustainable and innovative desalination. Riyadh, 17 MAY 2023. In the Gala of the Global Water Summit Awards on May […]
Mensha Ventures signs a Memorandum of Understanding (MoU) with its strategic partners from China and global Investment Banks to bolster the UAE’s sustainable capabilities and infrastructure.
Mensha Ventures, a prominent regulated venture capital firm in DIFC at the forefront of sustainable energy investments, specializing in groundbreaking projects within the realms of EV infrastructure, green technology, and renewable energy. With an unwavering commitment to advancing the global transition towards clean energy, has signed a Memorandum of Understanding (MoU) with strategic partners from […]
Understanding the Economic Potential of the Metaverse in the Middle East and North Africa Region
Although the metaverse is still in the early stages of development, it’s already possible to see its potential in areas likeeducation, gaming, wellness and commerce. These opportunities, and others that will emerge as metaverse technologies are more widely adopted — opening up new markets and business models, creating better ways of working, and transforming training and development – are the focus of […]
IsDB and AHTF Sign Implementation Partner Agreements for Development of Resource, Infrastructure, and Family Support Efforts in Afghanistan
Afghanistan Agreements will focus on water, improved sanitation and hygiene services, advanced environmental health, and supporting sustainable transformation in rural areas of Afghanistan Jeddah, Kingdom of Saudi Arabia, 15 May 2023 – Under the auspices of HE Dr. Muhammad Al Jasser, President of the Islamic Development Bank (IsDB), several Implementation Partner (IP) agreements were signed, today, between IsDB, […]
BAIN & COMPANY ANNOUNCES KEY PARTNERSHIP WITH KAUST ON THE FUTURE OF SEMICONDUCTORS FORUM 2023 IN KSA
FUTURE OF SEMICONDUCTORS FORUM 2023 IN KSA The firm will leverage its wide experience in supporting global entities in the semiconductor sector at the forum, with a focus on localized production and sustainability Dubai, UAE, 15th May 2023: Bain & Company has announced a partnership with King Abdullah University of Science & Technology (KAUST) on its forthcoming […]
Islamic Development Bank and partners launch the Lives and Livelihoods Fund 2.0 to support economic development across 32 member countries
Jeddah, May 13, 2023 – The Islamic Development Bank (IsDB) and its development partners, the Abu Dhabi Fund for Development (ADFD), the Bill & Melinda Gates Foundation (BMGF) and the Islamic Solidarity Fund for Development (ISFD) today announced the launch of the second phase of the Lives and Livelihoods Fund (LLF 2.0) on the sidelines of the IsDB […]
ISFD Poverty Alleviation Forum Discusses Combating Poverty Through Solidarity, Alliances and Partnerships
Attended by HRH Prince Turki AL Faisal: HRH Prince Turki AL Faisal the Founder of the King Faisal Foundation and the Chairman of the King Faisal Center for Research and Islamic Studies, Dr. Muhammad Al Jasser IsDB Group Chairman, Mr. Luky Eko Wuryanto VP and CAO, AIIB, and ISFD, DG Dr. Hiba Ahmed, addressed the […]
Annual Investment Meeting Signs MoU with Gold Standard to promote dialogue for sustainable development
Abu Dhabi, United Arab Emirates, 11 May 2023: The Annual Investment Meeting (AIM), one of the world’s largest investment platforms, and Gold Standard, a climate and development organization, have signed a Memorandum of Understanding to promote dialogue for sustainable development at the 12th edition of the conference, which ends its three-day run today, May 10, in […]
stc Group achieved the highest quarterly revenues in its history, as revenues for Q1, 2023 compared to the comparable quarter of last year increased by 7.45% , and it distributes SAR 0.40 per share dividends for the 1st quarter of 2023.
Riyadh, Kingdom of Saudi Arabia, 10 May 2023- stc today announced the company’s preliminary financial results for the period ending at 31 March 2023: In accordance with the dividends distribution policy for three years period starting from the 4th quarter of 2021, which was ratified during the Ordinary General Assembly Meeting on 30-11-2021. In addition to the […]
Enhancing E-commerce Convenience: FedEx Launches Picture Proof of Delivery forResidential Deliveries in the UAE, Bahrain, and Kuwait
Latest service enhancement for e-commerce deliveries provides reassurance that packages have been delivered Dubai, UAE, May 10, 2023 — FedEx Express (FedEx), a subsidiary of FedEx Corp. (NYSE: FDX) and the world’s largest transportation company, recognizes that for the increasing number of consumers shopping online, the ultimate sense of assurance comes from knowing that their package […]
Luxoft and Finastra extend partnership to deliver turnkey managed services to banks in EMEA
Partnership provides Finastra’s Kondor customers with access to cloud-based services for increased agility and lower total cost of ownership Dubai UAE – May 10, 2023 – Finastra, a global provider of financial software applications and marketplaces, today announced a new managed services partnership agreement with Luxoft, a DXC Technology company, to support Finastra’s Kondor customers in the Europe, Middle East […]