Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
BIDAYA Home Finance secures SAR 245 million in long-term facilities from Saudi National Bank (SNB)
RIYADH, 2 October 2022 – BIDAYA Home Finance announced that it has secured a new long-term structured facility with the Saudi National Bank (SNB). The new facility will be for a 15-year term to finance long-term mortgages originated by Bidaya. The new financing will significantly strengthen the company’s balance sheet, lower financing costs, and increase flexibility – […]
BCG inaugurates its Global Hub for Climate & Sustainability for the GCC
The BCG Global Climate & Sustainability Hub aims to accelerate decarbonization across all sectors globally. The hub will drive global and regional expertise across sectors, including the energy sector, industrial goods, retail & consumer, financial services, and digital innovation. BCG’s Climate & Sustainability Impact Summit was inaugurated by H.E. Mariam bint Mohammed Almheiri, Minister of […]
Rackspace Technology Welcomes Launch of New AWS Middle East Region in the UAE
Dubai, Middle East – 29 September, 2022 – Rackspace Technology® (NASDAQ: RXT), a leading end-to-end multicloud technology solutions company, welcomes the launch of AWS Middle East (UAE) Region, which will support the acceleration of innovation and digital transformation in the United Arab Emirates (UAE). The new AWS Middle East (UAE) Region consists of three Availability Zones (AZs) and […]
Kyndryl Launches Co-Creation Experience to Help Customers Unlock Innovative Solutions
Dubai, UAE, 28 September 2022 – Kyndryl (NYSE: KD), the world’s largest IT infrastructure services provider, today announced the launch of Kyndryl Vital, a designer-led, open and collaborative co-creation experience that helps customers and alliance partners solve their business challenges and create groundbreaking technology platforms. Kyndryl Vital is led by global teams of designers who work […]
Huawei enriches digital life experiences in collaboration with local incubators and accelerators
Workshops with AstroLabs and The GrEEK Campus that equipped app developers with key resources and skills Dubai, UAE, September 28, 2022: Huawei, a leading tech giant, reinforces its commitment to excellence and innovation through workshops, competitions, and mentorship programmes in the Middle East and Africa (MEA) region. In collaboration with AstroLabs and The GrEEK Campus, Huawei organised […]
CKBG Appoints LVMH Veteran Leslie Serrero to Lead Global Expansion, Adds $15 Million in New Funding
Dubai, UAE, September, 2022: CKBG has appointed luxury brand leader Leslie Serrero as International Managing Director, based in Paris. Serrero joins the CKBG leadership team after 10 years with the executive suite at LVMH, having leadership roles most recently at Fendi and Dior. This announcement coincides with the closure of CKBG’s latest round of financing, securing […]
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World’s First ‘Human Cyborg’ Presents at 12th Annual Edition of IDC Saudi Arabia CIO Summit in Riyadh
More than 400 of the Kingdom’s most influential business and technology leaders gathered in Riyadh last week for the IDC Saudi Arabia CIO Summit 2022. Hosted by International Data Corporation (IDC), the event took place on September 19-20 at the Fairmont Riyadh under the theme ‘Accelerating the Journey to a Digital-First World’ and featured a show-stopping […]
SAS Viya now available in the Microsoft Azure Marketplace
SAS offers its industry-leading analytics platform with hourly pricing model, in-app tutorials and support for multiple languages Dubai, UAE, 27 September 2022 – SAS Explore,– The SAS® Viya® analytics platform is now available in the Microsoft Azure Marketplace with the click of a button on a pay-as-you-go basis. Full-featured SAS Viya on Microsoft Azure equips customers worldwide with access to essential […]
MARHABA MALAYSIA OFFERS GOOD DEALS
FOR SAUDI CONSUMERSMalaysia and Saudi Arabia have enjoyed warm and friendly bilateral ties through commercial and cultural links for decades. This cordial relationship has paved the way for both countries to embark on various collaborations across many industries. In 2021, Saudi Arabia was Malaysia’s second-largest trading partner and the largestsource of imports among West Asian countries and […]
Red Hat Drives Greater Consistency and Management Across the Hybrid Cloud with Latest Version of OpenShift Platform Plus
New capabilities further simplify the Kubernetes stack, helping to streamline and standardize application development and management from the datacenter to the edge to multiple public clouds Dubai, UAE — September 26, 2022 — Red Hat Inc., the world’s leading provider of open source solutions, today announced a new iteration of Red Hat OpenShift Platform Plus, with […]
HALA INSURANCE: DEFINING A NEW ERA FOR INSURTECH
Confusing policies, delayed turnaround times and hidden fees have long made insurance a dreaded chore for most people. But Hala Insurance, named ‘Insurtech Solution of the Year’ by a highly renowned business publication, is on a mission to change the way people feel about insurance. Hala is disrupting the sleepy industry with seamless, transparent and […]
Consumer Companies in MENA: A Defense Approach Against Inflation
By Jim Drews, Partner, Bain & Company Boston and Federico Piro, Associate Partner, Bain & Company Middle East In 2022, the average consumer price inflation in the MENA region reached 6.3%, causing input costs to surge and compressing margins. Supply chain bottlenecks and shortages continue to strain operations. Truckload, less-than-truckload, and specialized transportation costs jumped over the […]
Cartlow Partners with stc pay to Boost Circular Economy Aligning with KSA 2030 Sustainability Vision
Riyadh, Saudi Arabia; August 2022: Cartlow, the leading re-commerce and reverse logistics facilitator in the region has partnered with stc pay — Saudi Arabia’s leading mobile wallet providing innovative solutions and advanced payments. Cartlow will empower the KSA consumers to eliminate e-waste by selling their devices on the platform whilst earning stc pay credit. This partnership […]
SAS survey: Middle East and Africa companies understand importance of delivering experiences that matter
84 percent say they will invest more in solutions to improve customer experience Dubai, United Arab Emirates, 26 September 2022 – More than half (62%) of companies across the Middle East and Africa (MEA) plan to increase their investments in solutions to improve the customer experience (CX) by up to 50% by 2024. 22% even plan […]
Huawei Intelligent Cloud-Network, Leading Digital Innovation
Middle East, September 25, 2022: Huawei unveiled the upgraded capabilities of its Intelligent Cloud-Network Solution at the summit entitled “Intelligent Cloud-Network, Leading Digital Innovation”, held during HUAWEI CONNECT 2022 Bangkok. The capabilities cover three major scenarios — CloudFabric, CloudWAN, and CloudCampus — and were created to meet customers’ changing requirements. Huawei also released its Wireless Intelligent […]
ENGIE reaches important milestone in Australian renewable hydrogen project with Yara
ENGIE has taken Final Investment Decision in the development of one of the world’s first industrial-scale renewable hydrogen projects, to be located in the Pilbara region of Western Australia. Scheduled for completion in 2024, the first phase of the Yuri project will produce up to 640 tonnes of renewable hydrogen per year as a zero […]
Huawei unleashes its White Paper Data Storage Power to drive data growth across industries and reveals its scenario-based innovative solutions
Officially released during Huawei Connect 2022 in Bangkok, Huawei’s white paper on Data Storage Power – The Digital Cornerstone of High-Quality Development demonstrated the development of the storage industry and highlighted quantitative indicators to measure data storage capabilities and analyze the current data storage landscape across different regions around the world. Huawei explained how the […]
The Cultural Development Fund (CDF) Highlights Saudi’s Cultural Initiatives during Priority Summit in New York
As part of its efforts to establish the Kingdom as a global cultural leader New York, Sept. 23rd – The Cultural Development Fund (CDF) has concluded its participation in the Priority Summit hosted in New York City. The fund’s participation in the summit served as an extension of CDF’s goal to enhance Saudi Arabia’s cultural scene […]
Investopia Launches its New Economies Talks in SALT New York Forum
New York, September 22, 2022 Global investors and business leaders discussed emerging investment opportunities in new economic sectors in the Middle East during a session organized by Investopia, the global investment platform, on 13 September during SALT New York 2022. Titled “Investing in the Middle East: Investment Strategies and Sectors of the Future”, the session discussed […]
Juniper Networks Announces Additional Versatility and Flexibility for Data Center Operations with Expansion to Apstra Software
Apstra Freeform provides customers with the ability to manage and automate operations for data centers regardless of architecture Dubai, United Arab Emirates, 22 September 2022 – Juniper Networks (NYSE: JNPR), a leader in secure, AI-driven networks, announced Apstra Freeform, the newest expansion to its multivendor data center automation and assurance platform. This capability allows Juniper’s enterprise, service provider and […]
Huawei Launches Innovative Solutions to Find the Right Technology for the Right Scenario
Huawei also launches white paper aimed to help governments and enterprises better evaluate, design, and build data storage capabilities Middle East, September 22, 2022: On the second day of HUAWEI CONNECT 2022 Bangkok, Huawei launched a range of innovative infrastructure solutions to drive industry digitalization by finding the right technology for the right scenario. Industry stakeholders […]
Abu Dhabi to host 2nd Investopia Annual Conference in 2023
Abu Dhabi, United Arab of Emirates, 22 September 2022: Abu Dhabi will host the second Investopia annual conference on 1 – 2 March 2023, under the theme ‘envisioning opportunities in times of change’, in collaboration with Abu Dhabi Department of Economic Development (ADDED). Investopia 2023 date has been announced by H.E. Abdulla Bin Touq Al […]