Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
Citi Foundation Announces Inaugural Global Innovation Challenge To Empower Nonprofits Improving Food Security Around The World
The $25 million request for proposals seeks to support nonprofits leading groundbreaking food security projects that are designed to boost the physical and financial health of underserved communities Dubai, UAE – The Citi Foundation (the “Foundation”) today announced its first-ever Global Innovation Challenge to help scale the impact of nonprofits around the world that are developing […]
A strategic partnership between “Markab Capital” and the Italian “Super Jet” to establish a civil aircraft factory in UAE
The Emirati company “Markab Capital” signed a strategic partnership agreement with the Italian company “Super Jet International” to establish a factory for the assembly, installation and production of civil aircraft in UAE. The factory, which is scheduled to be completed in 2025, is the first of its kind in the Arab world, through which civil […]
Second Edition of PepsiCo’s Greenhouse Accelerator Program calls upon Saudi Startups and Entrepreneurs
Startups with innovations capable of advancing sustainable practices in agriculture can now apply online for a spot on the 2023 PepsiCo Greenhouse Accelerator: MENA Sustainability Edition Riyadh, Saudi Arabia – 27 February 2023 – Following the success of its inaugural MENA edition, PepsiCo has announced the second regional edition of its Greenhouse Accelerator Program. The theme […]
Cedar Rose Wins Credit Excellence Award 2022 for Risk, Data, and Fraud Prevention
Cedar Rose, a leading provider of business information and credit risk management solutions, has been declared a winner of the prestigious Credit Excellence Award 2022 for Risk, Data, and Fraud Prevention, in association with Arvato Financial Solutions. The Credit Excellence Awards, in association with Arvato Financial Solutions, are the premier awards for the credit industry, […]
e& and Mastercard partner to drive an ambitious digital future for consumers in 16 markets across the Middle East, Asia and Africa
Riyadh, KSA; 27 February 2023: e& has announced a strategic partnership with Mastercard that will see consumers and businesses in 16 markets across the Middle East, Asia and Africa benefit from a variety of new technologies and user-friendly experiences powered by Mastercard’s capabilities when using digital financial services provided by e& operating companies. These experiences include providing consumers […]
Kyndryl’s vision for the future of IT infrastructure: insights from #LEAP23
Kyndryl, the world’s largest IT infrastructure services provider, recently showcased its services and solutions at LEAP 2023. In an interview with Mahmoud Badawi, the Managing Director of Kyndryl in Egypt and KSA, he explained that Kyndryl designs builds, manages, and modernizes complex, mission-critical information systems that the world depends on every day. Since the company’s […]
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Finastra and Integro Technologies to offer comprehensive digitalization and exposure risk offering for trade finance
Dubai, UAE – February 22, 2023 – Finastra, a global provider of financial services software applications and marketplaces, today announced a partnership with Integro Technologies a subsidiary of Aurionpro, the pioneer provider of high-end lending platforms, to offer Integro’s SmartLender Trade Limits solution alongside its own Trade Innovation solution. Integro’s SmartLender has been successfully helping banks in Asia and […]
Scan & Go payment technology provider, MishiPay all set to roll out operations in Saudi Arabia
Scan & Go technology leader, MishiPay aims to make a mark in the retail industry in the GCC by rolling out its operations in the Kingdom of Saudi Arabia. Post a successful launch in the United Arab Emirates, MishiPay is all set to make waves after having partnered with leading Saudi Arabia based women’s wear brand Bloomingwear. MishiPay, […]
Etihad Etisalat Company (Mobily) successfully delivers the highest top- and bottom-line levels in the last 9 years
Riyadh, Saudi Arabia: Etihad Etisalat Company (“Mobily” or the “Company”), a leading Saudi Arabian telecommunications services provider, announces its financial results for FY 2022, recording a net income of SAR 1.7 bn, a 54.6% increase compared to SAR 1.1 bn from last year, on the back of healthy growth in revenue coupled with margin improvement. Financial Performance Highlights […]
BIDAYA simplifies homeownership for residents in Saudi
Riyadh, 20 February 2023 – BIDAYA Home Finance, Saudi Arabia’s leading non-bank provider of real estate financing products, has launched its latest innovative digital home financing product targeting residents in Saudi. The expatriates’ home financing is explicitly designed to meet the demands of Saudi Arabia’s growing expatriates in the community. The unique digital financing solution offered by BIDAYA enables all […]
Gandour celebrates its partners and reviews its most prominent achievements in the past year
Jeddah, February 19th, 2023: Gandour, one of the essential food processing companies in the Middle East, held its annual party to celebrate its partners’ success in 2022. A group of merchants and distributors in the Kingdom of Saudi Arabia attended the ceremony. On this occasion, Mr. Ali Gandour, CEO of Gandour, explained that this celebration […]
Petromin and Electromin sign strategic partnership with Emaar Economic City
February 14th, 2023 – Jeddah: Petromin Corporation and Emaar, the Economic City (EEC: the master developers of KAEC – King Abdullah Economic City) have signed a long-term strategic partnership. The partnership will provide KAEC with mobility and transport solutions that will be available to residents and visitors. The agreement was signed by CEO of Petromin Corporation, […]
Saudi Arabia showcases defense sector opportunities for investors at IDEX 2023
· Saudi Arabia’s General Authority for Military Industries (GAMI) leads KSA Pavilion at IDEX 2023 in Abu Dhabi to engage with current and potential partners and investors · Saudi delegation includes representatives from the Saudi Ministry of Investment, the Saudi Ministry of Interior, WDS, and 14 private sector defense companies. Riyadh, February 16, 2023 – […]
Atkins secures Delivery Partner role for THE LINE, NEOM’s flagship urban development in Saudi Arabia
Riyadh, Saudi Arabia: February 15, 2023 – Atkins, a member of the SNC-Lavalin Group, has been appointed as a Delivery Partner organization for THE LINE at NEOM in the Kingdom of Saudi Arabia. A civilizational revolution that will have no roads, cars or carbon emissions, THE LINE is set to provide an unprecedented urban living experience. A linear […]
Darb Al-Watan Company, one of Hafil’s transportation companies, signs the Northern concession contract for intercity bus transportation services with the Public Transport Authority.
Riyadh, February 15, 2023: The Northern concession contract for intercity bus transport services was signed between the General Transportation Authority and “Darb Al-Watan” company for transport services wholly owned by Hafil Transport Company. The signing ceremony was attended by His Excellency the Minister of Transport, Eng. Saleh bin Nasser Al-Jasser, and His Excellency Acting Chairman […]
Elm Signs a Memorandum of Understanding with Taqeem
15 February 2023- Elm, a leading provider of digital solutions, signed a Memorandum of Understanding (MoU) with Taqeem, the Saudi Authority for Accredited Valuers, at LEAP 2023, which took place in Riyadh from February 6th to 9th. The purpose of this MoU is to utilize modern electronic technologies, artificial intelligence, and sophisticated software to improve and […]
Under the patronage of the Custodian of the Two Holy Mosques
General Authority for Military Industries announces return of World Defense Show in February 2024· The exhibition is the leading event globally for defense and security· The inaugural event in 2022 formed international agreements for the Kingdom worth approximately SAR 29.7 billion ($7.92 billion)· World Defense Show 2024 will support the Kingdom’s defense industry localization efforts and broader Governmental Vision 14 February: Saudi Arabia, Riyadh: Under the patronage of […]
Jadwa REIT Saudi Fund signs lease agreement for Marvella Residential Compound with National Building and Marketing Co.
Riyadh, 15 February 2023: Jadwa Investment, a leading investment management and advisory firm in the Middle East, announced today that Jadwa REIT Saudi Fund has signed a new master lease agreement for Marvella Residential Compound in Riyadh. Marvella Residential Compound is a mixed-use development compound comprising 594 residential apartments and 21 retail shops over a land […]
PepsiCo partners with AstroLabs and collaborate with MCIT to empower Saudi Arabian e-commerce entrepreneurs
Riyadh, February 14.2022: In line with the Kingdom’s vision to diversify the economy by 2030, PepsiCo — one of the leading global food and beverage manufacturers — has collaborated with AstroLabs, an ecosystem builder in the MENA region, and Ministry of Communication and Information Technology (MCIT) to launch an innovative new offering for local SMEs. The […]
Jadwa Investment Awarded Best Asset Manager at Saudi Capital Market Forum
Riyadh, Saudi Arabia, 14 February 2023 Jadwa Investment, a leading investment management and advisory firm in the Middle East, was awarded Best Asset Manager for 2022 as part of the Saudi Capital Market Awards announced at the Saudi Capital Market Forum yesterday. The award was presented by Eng. Khalid Abdullah Al-Hussan, CEO of Saudi Tadawul […]
Bain & Company’s Global M&A Report sees opportunity for bold moves in an uncertain 2023 market
Bain’s fifth annual Mergers &Acquisitions Report examines the ups and downs in 2022 and what to expect in 2023 DUBAI, UAE – February 14th, 2023 – Bain & Company’s 5th annual Global Mergers & Acquisitions Report publishes a report which reveals that corporate executives looking ahead to 2023 remain confident in M&A’s role in value creation. While M&A value dropped […]
Tabadul concludes remarkable ZATCA Conference participation, impressive turnout from business and logistics sectors leaders
Riyadh: February 13, 2023 The Saudi Electronic Info Exchange Company (Tabadul) has joined Zakat, Tax and Customs Conference, ZATCA 2023, held in Riyadh on February 8-9 under the theme: “An Integrated Digital Ecosystem for Sustainable Economy and Improved Security.” The conference, organized under the patronage of Minister of Finance and ZATCA Chairman, H.E. Mohammed bin […]