Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
EY launches law practice in Saudi Arabia
Riyadh, KSA – 09 January 2023: EY has expanded its MENA Law offering by launching a dedicated legal practice in the Kingdom of Saudi Arabia (KSA), headed by the Saudi legal expert Reema A. Aref. The practice will initially consist of ten professionals based in Riyadh and will support clients across the country. The appointment […]
KSA shows high readiness for metaverse as it calibrates on enablers across the board
A new report by BCG in collaboration with Meta looks at MENAT readiness for the metaverse. Riyadh, January 9, 2023— According to a new report by Boston Consulting Group (BCG) in collaboration with Meta, there is ample ground in the Kingdom of Saudi Arabia (KSA) to leverage ten use cases such as digital twins; augmented tourism; live augmented […]
Dell Technologies Forum to Empower Saudi Businesses to Seize New Digital-First Opportunities
Riyadh, Saudi Arabia – January 05, 2023 – Dell Technologies will host its Saudi Arabia Forum on 11 January 2023 at the Four Seasons Hotel Riyadh. The much-awaited Dell Technologies Forum will bring together business leaders and industry experts for an insightful conversation on shifts transforming the Saudi business landscape. This year’s theme focuses on ‘Discovering […]
Gulf’s green and sustainable bond and sukuk market sets new record in 2022
Dubai, UAE; 04 January 2023: The market for green and sustainable bonds and sukuk in Gulf Cooperation Council (GCC) economies set a new record in 2022, with the issue count more than doubling and notable government-related entities and banks entering the market, according to data from Bloomberg’s Capital Markets League Tables. Total 2022 GCC green and […]
Study: Almost 60% of Saudi Arabia Consumers Choose Only Digital Money-Transfer Platforms, but Choice Still Matters
Jan 04, 2023 RIYADH, Saudi Arabia–(BUSINESS WIRE/AETOSWire)–Consumers in Saudi Arabia predominantly view digital money transfers as the preferred way to send money now and in the future, according to research commissioned by Western Union. Yet many still want the power to choose between online and retail (in-person) experiences – depending on their convenience and needs. Exclusive […]
stc pay Appoints Nizar Abdulaziz Altwaijri as CEO
stc pay’s Board of Directors announced the appointment of Nizar Abdulaziz Altwaijri as CEO of stc pay, starting from Sunday, January 1. 2023. Nizar Altwaijri has 25 years of experience in the financial and banking sector. He has assumed various leadership positions, the most recent being Deputy Managing Director at the Arab National Bank since […]
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Red Hat Lowers Barriers to Hybrid Cloud Adoption with Expanded Public Offerings in AWS Marketplace
Industry-leading open source solutions, including Red Hat OpenShift Data Science and Red Hat OpenShift Streams for Apache Kafka, are now publicly available in AWS Marketplace Dubai, UAE – December 28, 2022 – Red Hat, Inc., the world’s leading provider of open source solutions, today announced an expansion of its open solutions publicly available in AWS Marketplace, […]
Huawei collaborates with local partners to launch Huawei Cloud Startup Program in Kuwait
Middle East, December 28, 2022, Huawei inaugurated the first edition of the Huawei Cloud Startup Program in Kuwait on 20 December 2022. The program was launched in collaboration with local partners, including the Central Agency for Information Technology, Rasameel Investment Company, Youth Assembly of Kuwait, and eWTP Arabia Capital. The program calls on Kuwait startups in […]
Data Centers Trends 2023: Balancing Digitalisation with Sustainability
By Ashraf Yehia, Managing Director, Eaton Middle East With more countries revealing their sustainability visions for the future, and in the light of COP28 scheduled for Dubai, focus on sustainability initiatives is becoming crucial. The past few years have been more than just disruptive for data centres. Organisations couldn’t predict the severity of the impact the […]
Carrier Showcases Lifecycle Solutions as HVAC Sponsor of Big 5
Carrier’s UAE experts highlight the importance of decarbonization and indoor air quality DUBAI, United Arab Emirates, Dec. 23, 2022 — Carrier Middle East participated as the HVAC sponsor for The Big 5 show, an international construction and building materials event, displaying its state-of-the-art HVAC solutions offered in the UAE. The exhibition is the largest of its […]
The Saudi Architecture and Design Commission announces plans for second Saudi Design Festival to take place in January 2023
December 26th , 2022, RIYADH – The Saudi Architecture and Design Commission, one of the 11 commissions under the Ministry of Culture, has announced plans to launch the second edition of the Saudi Design Festival (SDF) between January 12-23, 2023. Organized by the creative cultural consultancy &bouqu, this year’s edition will be the biggest yet, unveiling a new […]
Hisense partners with Saudi Arabia’s business giant United Matbouli Group to expand its presence in the Kingdom
Dubai, UAE – December 26, 2022: Hisense, one of the most significant home appliance and consumer electronics companies, has signed a partnership deal with Saudi Arabia’s United Matbouli Group (UMG), one of the most prestigious consumer electronics distributors in the Kingdom, thus opening a new pathway to of business opportunities for Hisense in the Saudi market. Through […]
Emirates NBD expands its presence with the First Non-Saudi Bank to open a branch in Makkah
KSA is one of Emirates NBD’s largest footprints outside the UAE Increased network is part of Emirates NBD’s ongoing economic expansion strategy Makkah, KSA – 22 December 22, 2022: Emirates NBD, a leading banking group in the MENAT (Middle East, North Africa and Turkey) region, recently opened the First Non-Saudi Bank Branch in Makkah. It is […]
G42 Cloud and Dell Technologies sign MoU to Accelerate UAE customers’ Digital Transformation Efforts
Dubai, UAE – December 22, 2022: Dell Technologies and G42 Cloud have signed a memorandum of understanding to help customers in the UAE accelerate their digital transformation drive by collaborating on cloud, security and IT and managed services. The memorandum was signed by Walid Yehia, General Manager – UAE, Dell Technologies and Talal Al Kaissi, […]
All I want for Christmas is…A seamless shopping experience
By Jarek Matschey, Retail Practice Lead, EMEA, Juniper Networks Networks are underpinning the magic of the holiday shopping experience The retail landscape is under increasing pressure thanks to runaway inflation, supply chain issues and warnings of recession and stagnant growth. As peak holiday shopping season arrives, these challenges will have significant impacts, both in-store and […]
Rising M&A Activity in the Middle East sees Green Deals Quadrupled since 2001
BCG’s annual M&A report shows that green M&A activity has increased in volume, and peaked in 2021. The transition to clean energy is the primary reason for the increase in green M&A, marking 10.3 % of all M&A transactions in 2021. Riyadh, December 19, 2022— Middle East mergers and acquisitions (M&A) activities have returned to pre-pandemic levels according […]
19 Newcomers Join Forbes Middle East’s Top 50 Most-Funded Startups 2022
Meet The Entrepreneurs Inspiring Investors Dubai, December 19, 2022: Forbes Middle East has released its annual list of MENA’s Top 50 Most-Funded Startups, celebrating the mission-driven young businesses attracting investor attention. Combined, the 50 startups on the 2022 list have raised $3.2 billion in funding, up from $3 billion in 2021. The startups had to have […]
Cisco Identifies Key Technology Predictions and Trends for 2023
Top Tech trends for 2023 Saudi Arabia, Riyadh – December 19, 2022 – In 2023, the economic climate will continue to be shaped by reducing costs and increasing efficiency. Many companies are therefore looking to the future for innovative technologies that can help here. Today, Cisco outlines the seven technology trends for 2023 in the areas […]
ROSHN and Al-Akaria team up to bring new homes to Riyadh’s SEDRA
· The SAR 323.7 million sale and purchase agreement will see Al-Akaria build residential villas in ROSHN’s flagship development· The deal forms part of ROSHN’s ambitious partnership programme that is boosting local economies, building supply chains, and creating new jobs across the Kingdom Riyadh – 15 December 2022: ROSHN, the nation’s leading real estate developer, and […]
Improving Sustainability in the Datacentre –Saving Money, Energy and the Planet
By: Ayman Aljunaidy, Senior Systems Engineer, Nutanix When it comes to provisioning the IT on which all businesses rely, running costs and energy efficiency have long played a significant role in the decision-making processes. Recently, however, concerns around global warming and soaring energy costs have moved them to the top of the priority list. This, […]
iot squared signs MoU with Rockwell Automation to strengthen Industry 4.0 ecosystem in Saudi Arabia
Riyadh, Saudi Arabia 14th December 2022: Internet of Things Technologies Company (iot squared), a joint venture between Saudi Arabia’s Public Investment Fund (PIF) and stc Group (stc), have signed a Memorandum of Understanding (MoU) with Rockwell Automation, the world’s largest company dedicated to industrial automation and digital transformation. The collaboration aims to enhance cooperation in the field […]
The Saudi Tadawul Group signs Memorandum of Understanding with Boursa Kuwait
Partnership intends to bolster the growth of capital markets in Kuwait and Saudi Arabia Riyadh, 13 December 2022 – Boursa Kuwait signed a memorandum of understanding (MoU) with the Saudi Tadawul Group that aims to continue to build on the partnership and form the basis of cooperation between the two stock exchange operators, The MoU, which […]