Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
SADAFCO Signs an Agreement Expanding its reach to Sultanate of Oman
21 June 2023, Jeddah, Saudi Arabia: Saudi Arabia’s leading food manufacturer, seller, and distributor, Saudi Dairy and Food Products Company “SADAFCO,” has signed a sales and export agreement for its products in the Sultanate of Oman. The landmark deal is part of SADAFCO’s wider expansion plan to broaden its customer base within and beyond the Kingdom […]
GoDaddy Shares Ultimate Guide to Build Marketing Campaigns for Small Businesses During Eid Al-Adha
Jeddah – 21 June 2023: GoDaddy Inc. (NYSE: GDDY), the company that helps entrepreneurs thrive, celebrates Eid Al-Adha with its ultimate guide for creating marketing campaigns that can help them maximize and increase growth for their business during the festive season. Eid Al-Adha is a prominent religious holiday across the region and has a strong significance to […]
Transforming Saudi Arabia’s Cultural Landscape: A Joint Venture by Zamil Trade and Services, Knowliom and Chargeurs Museum Studio Announced at the French-Saudi Investment Forum
[Riyadh, The Kingdom of Saudi Arabia] – Zamil Trade and Services, Knowliom and Chargeurs Museum Studio have joined forces to create Knowliom-CMS, a joint venture limited liability company in the Kingdom of Saudi Arabia. Knowliom-CMS aims to revolutionise tourism and culture by providing comprehensive services that encompass advisory, creative, and delivery solutions for museums, exhibitions and cultural […]
Using Digital Technology Can Accelerate Food Sustainability in the Middle East
By Faisal Sheikh, Partner, Bain & Company, James Anderson, EMEA Head of Vector Practice, Bain & Company and Patrik Sandin, Expert Associate Partner, Bain & Company in collaboration with World Economic Forum Meeting the food needs of a constantly growing global population requires sustainable food production for both the planet and society. To do this, […]
Farnek appoints new head of sustainability
Muna AlNahdi to direct sustainability strategy at leading UAE-based total FM company, including carbon, water energy & waste management as well as net zero initiatives Dubai, United Arab Emirates, 20 June 2023: Leading UAE-based smart and green facilities management (FM) company Farnek has appointed Muna AlNahdi as its new Head of Consultancy & Sustainability, to direct Farnek’s green strategy and […]
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Mastercard and SimpliFi join forces to enable innovative B2B payment solutions across MENA and Pakistan
Saudi Arabia, Riyadh; 20 June 2023: Mastercard has partnered with SimpliFi, the leading regional Cards as a Service (CaaS) platform, to enhance digital payment adoption in the Middle East and North Africa (MENA). CaaS is an up-and-coming card-issuing model that enables companies to easily develop and launch card services as part of their business offering. With demand for […]
Green RWA and Finastra unveil a new platform for climate risk management
The CERM Sandbox enables banks to better understand and manage climate risks in lending portfolios Dubai, UAE – June 20, 2023 – Finastra, a global provider of financial software applications and marketplaces, and Green RWA, a pioneering association in climate transition, today announced the launch of the Climate-Extended Risk Model (CERM) Sandbox. The new platform offers an interactive and […]
Invictus celebrates crossing one million metric tonnes of agro-commodity exports to Egypt so far this year, expanding its global reach
Dubai, UAE, 20 June 2023 – Invictus Investment Company Plc (ADX: INVICTUS), today announced that it has successfullycontracted over one million metric tonnes of agro-commodities to Egypt. Invictus has seen a remarkable increase in its commodity trading business in Africa, with Egypt as one of the key markets for its business growth. Invictus investment operates in over 70 countries and is in […]
Global warming is a significant factor in the growth of energy consumption, CEO of Rosneft
Riyadh, 20 June 2023: Igor Sechin, Chief Executive Officer, Rosneft Oil Company, presented a roadmap for improving the efficiency of the Russian energy sector in the face of unprecedented external challenges at the 26th St. Petersburg International Economic Forum. “Global warming is a significant factor in the growth of energy consumption. Ventilation and air conditioning already […]
Nortal Appoints Hani Al Khiary as KSA Country Leader to Support Transformation of Government, Healthcare and Enterprise Sectors
Al Khiary, a Saudi national, is keen to leverage his new position to foster development of local tech talent and is spearheading the company’s ‘Saudi Changemakers Program’ Riyadh, 20.06.23: Nortal, the global digital transformation powerhouse, has appointed Hani Al Khiary as the Country Leader for Saudi Arabia. As a Saudi national with over fifteen years of […]
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Amazon Payment Services releases research on Generation Z attitudes toward digital payments
Gen Z prioritizes personalization over privacy and prefers paying digitally, according to second white paper on the ‘re:Imagine Payments’ thought leadership forum. RIYADH, Saudi Arabia—June 19, 2023—Amazon Payment Services, a regional leader in digital payments across the Middle East and North Africa (MENA) region, shares research on the spending preferences of those born between 1997 […]
Inaugural Saudi Food Show gathers ministers, global industry leaders and celebrity chefs in biggest F&B industry event to celebrate Kingdom’s ambitions & achievements in mega food industry
Show launches under the patronage of H.E. Bandar Ibrahim Alkhorayef, Saudi Minister of Industry and Mineral Resources Saudi Food Summit ministerial keynotes to unveil vast strategic business opportunities in fast-growing F&B market RIYADH – June 19, 2023: The inaugural edition of The Saudi Food Show at Riyadh Exhibition Centre, held under the patronage of H.E. Bandar Ibrahim Alkhorayef, Saudi […]
FOURTH SAUDI HOUSING FINANCE CONFERENCE SPOTLIGHTS CONTRIBUTION OF HOUSING MARKET TO NATIONAL ECONOMY
Riyadh, June 19.2023 Organized by Euromoney Conferences, the Saudi Housing Finance Conference was held under the patronage of the H.E. Mr Majed bin Abdullah Al-Hogail, Minister of Municipal, Rural Affairs and Housing, Chairman of Housing Program on May 24, 2023. The conference was organized in partnership with and co-hosted by the Housing Program, Real Estate […]
stc Group continues to invest qualitatively in commitment to excellence through its subsidiary “solutions”
Excelling in world-class digital consulting Riyadh, Kingdom of Saudi Arabia, June 18, 2023 – The prominent ICT provider in Saudi Arabia, “solutions by stc”, has recently announced a binding offer with Devoteam SIS (France) and Ortel company. The offer entails the acquisition of a 40% stake in Devoteam Middle East, a top-performing entity in the digital […]
Massive investment in the gaming sector positions the Middle East as a dominant force in the industry
A new gaming report from BCG reveals that 60% of the region’s population are gaming enthusiasts, contributing to a 50% share of gaming app downloads, surpassing the global average of 40% Riyadh, June 15, 2023 — The Middle East is rapidly advancing to shape the future of gaming and esports with unprecedented government investments. Over $3 billion […]
Mastercard partners with Bankiom to issue virtual prepaid cards across GCC region
Riyadh, KSA; 15 June 2023: Mastercard is partnering with Bankiom, a UAE-based lifestyle banking app, to introduce digital payment cards across the UAE, Saudi Arabia, Bahrain, Kuwait, and Oman. This partnership marks a significant stride in Mastercard’s ongoing commitment to advancing digitalization in the payments landscape throughout the region. “As we move into a more digital […]
Top Japanese architect expands operations in Dubai cementing 30-year pedigree in the emirate
Nikken Sekkei has opened a new subsidiary office in Dubai Design District,Nikken Sekkei Dubai Dubai, United Arab Emirates, 15 June 2023: Leading Japanese architectural, engineering, and urban design firm, Nikken Sekkei, one of the world’s largest practices, celebrated the launch of the company’s local subsidiary and new office in Dubai Design District (D3) at a glittering reception in Dubai recently. Over 130 […]
Cost of Living Evolves in Saudi Arabia in line with Swift Economic Progress, Mercer 2023 Report Shows
Riyadh, June 15, 2023: The recently released Cost of Living 2023 survey by Mercer provides an in-depth view of worldwide affordability. According to the data, Riyadh and Jeddah have ascended the rankings to the 85th and 101stspots respectively, however, they are still positioned among the more economically favorable cities globally for expatriates. Moreover, Saudi Arabia continues to display robust […]
Olayan Financing Company participates and purchases credits in world’s largest carbon credit auction in Nairobi
Olayan Financing Company among 16 other Saudi companies invited to bid at second auction held by Saudi PIF’s RVCMC NAIROBI, KENYA – 15 June 2023: Olayan Financing Company participated and purchased in the second Regional Voluntary Carbon Market Company’s (RVCMC) carbon credit auction, held from 13 to 14 June 2023 in Nairobi, Kenya. The auction marked a significant milestone, with over 2 […]
FedEx and Floship Form Commercial Partnership to Deliver What’s Next in E-Commerce
Investment from FedEx Innovation Lab and innovative collaboration strengthens FedEx end-to-end digital fulfillment and returns solution Dubai, UAE, June 15, 2023 — FedEx Corp. (NYSE: FDX) and Floship, a leading global circular supply chain solutions provider for e-commerce brands, announced a partnership to provide enhanced fulfillment and logistics services to e-tailers worldwide. Through investment by the FedEx Innovation Lab (FIL), […]
Mastercard Economics Institute Releases Travel Industry Trends 2023
Saudi Arabia, Riyadh – 14 June 2023: New insights from the Mastercard Economics Institute reveal that consumers, including those from Middle East and Africa (MENA), are taking advantage of a more traditional travel ecosystem in 2023, prioritizing leisure travel and pioneering new corridors around the world. The Travel Industry Trends 2023 report delivers key insights about the global state of […]
ENGIE appoints Mohammed Alhajjaj as CEO of ENGIE KSA and promotes Turki Alshehri to Group Vice President for Key Clients in Paris
ENGIE, the global leading provider of low-carbon energy services and solutions for integrated utilities management, has appointed the Saudi veteran executive in multinational companies and government institutions, Mohammed Alhajjaj, as the Chief Executive Officer of Engie KSA, to succeed Turki Alshehri who has been promoted to a global role as the Group Vice President for Key […]