Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
Panasonic Strengthens Commitment to Environmental Sustainability With Mangrove Planting, Beach Clean-up Drive
Held in line with the Panasonic Green Impact initiative, coastal clean-up yields 175kg of debris while concurrent mangrove project gets 170 new saplings planted Dubai, United Arab Emirates Panasonic Marketing Middle East & Africa (PMMAF) continues to ramp up its corporate sustainability efforts with the recent conduct of Mangrove Kayaking & Planting and Beach Clean-up in […]
Huawei Announces Switch to MetaERP, Redefining Enterprises’ Core Business Systems
[Dongguan, China, April 25, 2023] Huawei announced that it has replaced the legacy ERP system with its MetaERP system over which it has full control. Yesterday, the company hosted the MetaERP Award Ceremony to recognize the individuals and teams who made critical contributions to this project. ERP (Enterprise Resource Planning) is the most critical enterprise management […]
Huawei Global Analyst Summit discusses ICT industry development strategies, roadmaps for digital transformation, and future trends
[Shenzhen, China, April 24, 2023] Huawei recently held its 20th annual Global Analyst Summit (HAS) in Shenzhen. The summit was attended by more than 1,000 industry analysts, financial analysts, key opinion leaders, and media representatives from around the world, who gathered to discuss the status of the ICT industry, including development strategies, roadmaps for digital transformation, […]
Mastercard’s Cross-Border Services Express helps modernize international payments
Riyadh, Saudi Arabia – April 12, 2023: Today, Mastercard introduced Cross-Border Services Express, a new tool that enables financial institutions to seamlessly set up international payments for their customers, including consumers and small and medium sized enterprises (SMEs), which have a strong need for improved cross-border payment capabilities. Increasingly, consumers and businesses are looking for ways […]
Samsung Soundbar Ranks No.1 in Global Sales for 9 Consecutive Years
Dubai, UAE, April 10, 2023: Samsung Electronics has been recognized as a leader in the global soundbar market, according to the market research firm, FutureSource Consulting. A newly released report published on February 28 notes that Samsung topped the soundbar market for the ninth year in a row, commanding 20.2% in market share and accounting […]
Finastra integrates Alygne’s tailored ESG data into Fusion Invest
Finastra’s Fusion Invest, integrated with Alygne’s sustainability technology platform, will allow financial institutions to utilize ESG alternative data on private and public companies Dubai, UAE – April 11, 2023 – Finastra, a global provider of financial software applications and marketplaces, today announced its partnership with Alygne, a sustainability technology platform that provides tailored ESG alternative data, to help asset managers […]
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New global study: 1 in 2 executives experiencing ‘resiliency gap’
SAS launches Resiliency Assessment Tool to provide rapid business assessment Dubai, UAE, (April 10, 2023) Despite three straight years of ongoing disruption and economic ambiguity, when it comes to resiliency, 53% of executives admit their company is not where it should be. This is among the top findings in a global business survey report by analytics […]
Deloitte successfully advises Al Ansari Financial Services on its initial public offering on Dubai Financial Market
Dubai, United Arab Emirates – 6 April 2023: Deloitte successfully advised Al Ansari Financial Services (ALANSARI) on its initial public offering on the Dubai Financial Market. Al Ansari is a leading integrated financial services group, which primarily operates the largest money exchange and remittance business in the UAE. The IPO generated strong demand, with the offering […]
BIDAYA introduces new corporate financing programs designed for real estate investments
Riyadh, 9 April 2023 – BIDAYA Home Finance, Saudi Arabia’s leading non-bank provider of real estate financing products, today announced the launch of a brand-new portfolio of financing solutions tailored exclusively for corporate customers. Following the company’s groundbreaking work in consumer digital real estate financing, the introduction of corporate products marks the beginning of a new […]
Mastercard Accelerates Sustainable Card Efforts
Company to require all payment cards to be Card Eco Certified by 2028 Riyadh, Saudi Arabia – 6 April 2023 – Mastercard today announced it is accelerating efforts to remove first–use, PVC plastics from payment cards on its network by 2028. This move further reinforces the company’s sustainability commitments and scales the accessibility of more sustainable […]
New BCG study highlights key growth contributing sectors to span financial services, manufacturing and telecommunications.
New BCG study highlights key growth contributing sectors to span financial services, manufacturing and telecommunications. Riyadh, April 5, 2023— Ranked 63rd globally for ease of doing business, the Kingdom of Saudi Arabia (KSA) is now the largest economy in the Arab world, with a gross domestic product (GDP) of around USD 840 billion in 2020. As one of the key […]
Hotpack to build SAR 1 billion packaging production plant in KSA over 7 years
The company signed investment agreements with the Ministry of Investment, and Ministry of Industry & Minerals to build the facility spreading over a land 2.4 million sq.ft. over the next 7 years. Riyadh – April 4, 2023: Hotpack Global, the UAE-based global leader in food packaging products, has announced its plan to build one of […]
center3 Signed A Strategic Deal With Huawei To Build Huawei Cloud Region in Saudi Arabia
Riyadh – Saudi Arabia, April 4, 2023: center3, the leading provider of hosting and data services in the MENA region, is pleased to announce the signing of a strategic commercial deal with Huawei, a leading global provider of cloud service, information, communications technology (ICT) infrastructure, and smart devices. Under this agreement, center3 will provide hosting and data services […]
GoDaddy Shares 4 Tips to Help Saudi Entrepreneurs Increase Sales During Ramadan
Jeddah – GoDaddy Inc. (NYSE: GDDY), the company that helps entrepreneurs thrive, shared its guide to help entrepreneurs and business owners create successful viral ads during Ramadan. The 4-pillar guide provides support to business owners to effectively market their offerings during the holy month of Ramadan to help grow their business. In this context, Selina Bieber, […]
HONEYWELL TO OPEN STATE-OF-THE-ART REGIONAL MANUFACTURING CENTER IN SAUDI ARABIA’S KING SALMAN ENERGY PARK
RIYADH, Saudi Arabia, April 3, 2023 — Honeywell (Nasdaq: HON) is to open an advanced regional manufacturing center at the King Salman Energy Park (SPARK) — Saudi Arabia’s new energy industrial zone. The new facility will become Honeywell’s eighth site in Saudi Arabia, reflecting both the company’s strategic growth objectives in the Kingdom and its support for Aramco’s […]
iot squared partners with Huawei KSA in Saudi Arabia to fast-track digital transformation solutions for smart cities and industrialization
Riyadh, Saudi Arabia 30 March 2023: Internet of Things Technologies Company (iot squared), a joint venture between Saudi Arabia’s Public Investment Fund (PIF) and stc Group (stc), has signed a Memorandum of Understanding (MoU) with Huawei KSA, a leading global provider of information and communications technology (ICT) infrastructure and smart devices. Through this partnership, both companies […]
Mastercard reimagines bespoke travel experiences through strategic partnership with Illusions Online
Mastercard and Illusions Online are launching a joint travel platform featuring unique hotel offers and value-added perks for consumers across Africa and Middle East 3 April 2023; Riyadh, KSA: Mastercard and Illusions Online, a global leader in enterprise solutions for hospitality industry, have partnered to launch a unique online platform to bring tailored travel offers to Mastercard […]
Deloitte’s Financial Crime Symposium examines regulatory changes and addresses emerging risks in the Middle East
Dubai, United Arab Emirates – 30 March 2023: Deloitte hosted the sixth annual Financial Crime Symposium in Dubai, attended by key stakeholders across the financial services industry, including representatives of law enforcement, regulatory bodies, financial institutions, and industry leaders. The symposium provided a vibrant forum for global experts who engaged in panel discussions covering the latest […]
Commvault Earns 5-Star Rating in 2023 CRN® Partner Program Guide
– Latest accomplishment marks a decade of partner success achieved through Commvault’s Partner Advantage Program – March 29, 2023 – Commvault, an enterprise data protection leader for the complex and mission critical hybrid environments of today’s global businesses today announced its prestigious 5-star rating for the Commvault Partner Advantage program in the 2023 Partner Program Guide from CRN®, […]
Saudi witnesses cross-industry partnership as full-funnel marketing consultancy Team Red Dot joins hands with MarTech leader WebEngage
The partnership between retention-marketing specialist WebEngage and full-funnel marketing consultancy Team Red Dot, aimed at optimizing data-driven customer engagement, signifies growing synergistic-value-creation efforts by leading companies in the UAE & Saudi Arabia. March 28th, Saudi / UAE: WebEngage, a leading full-stack Retention Operating System, today announced its partnership with Dubai-based full-funnel marketing consultancy Team Red Dot. The […]
Avaya Completes Last Major Milestone of Financial Restructuring; Secures Court Confirmation of Prepackaged Restructuring Plan on an Accelerated Basis
Company to Emerge from Restructuring Process with Significant Financial Strength and Ample Liquidity to Accelerate Investment in Avaya’s Leading Cloud Communications Portfolio. Continuing to Serve Avaya Ecosystem with Outstanding Communications Solutions, Service and Support. Dubai, United Arab Emirates – March 27, 2023 – Avaya Holdings Corp. (OTCMKTS: AVYAQ) (“Avaya” or the “Company”), a global leader in […]
Spend management fintech Qashio joins hands with Alinma Bank to roll out solutions to KSA customers
The exclusive partnership is a milestone achievement as it marks the first time a KSA corporate bank has partnered with a fintech Dubai, UAE, 22 March 2023: Spend management fintech Qashio has entered an exclusive partnership with Alinma Bank, the youngest and fast-growing bank in KSA, to launch its operations in the Kingdom. This is the first time […]