Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
RAZER GOLD MAKES MINORITY INVESTMENT IN MINTROUTE DMCC
Dubai, August 25, 2022 – Mintroute DMCC, the UAE-based e-vouchers, and Digital Cards aggregator, issuer, rewards, and incentives company, today announced a minority investment by Razer Gold. The investment will support Razer’s mission to expand the global footprint of its virtual credit services offerings for gamers. Mintroute will provide Razer Gold with greater access to its […]
Xebia and Global Technology Consultancy 47 Degrees Join Forces
The acquisition will strengthen Xebia’s foothold in the functional programming domain in the Middle East region Dubai, United Arab Emirates, 24 August 2022: Xebia, a leading global IT consultancy, and services company, has united with 47 Degrees, a US-based global technology consultancy focused on unlocking business growth by creating assured solutions for complex, mission-critical software. 47 Degrees […]
Saudia Dairy and Foodstuff Co. reports Significantly Improved Q1 Financial Results
24 August 2022, Jeddah, Saudi Arabia: Saudia Dairy and Food Stuff Company (SADAFCO), the leader in the UHT (long life) milk, ice cream and tomato paste in the Kingdom of Saudi Arabia reported positive financial results for the first quarter of the financial year 2022. In comparison to the same quarter last year the company’s total […]
SAS and SingleStore deliver next-generation data and analytics architecture
SAS Viya with SingleStore will simplify data access, improve productivity and expand analytical insights Dubai, UAE, 23 August 2022 – Analytics leader SAS has joined forces with SingleStore to help organizations remove barriers to data access, maximize performance and scalability, and uncover key data-driven insights. SAS® Viya® with SingleStore enables the use of SAS analytics and AI […]
Mastercard partners with Gamers8 to deliver Priceless experiences for the Kingdom’s esports community
Long-term three-year partnership with Saudi Esports Federation underlines Mastercard’s commitment to developing the Kingdom’s burgeoning gaming industry Series of on-ground events and activations set to create Priceless experiences, enriching the Kingdom’s cultural offering Riyadh, Saudi Arabia – 15 August, 2022: Mastercard has signed a three-year partnership agreement with the Saudi Esports Federation as an official sponsor of Gamers8, the […]
stc pay Launches “Scam the Scammer” Money Fraud Awareness Campaign
Riyadh, Saudi Arabia; August 15 2022. stc pay — Saudi Arabia’s leading mobile wallet — has launched a money fraud awareness campaign to safeguard people across the Kingdom and protect their finances. The campaign, entitled “Scam the Scammer” that shines a light on the all-important steps consumers can take to make their financial transactions as safe […]
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UAE venture builder hatch & boost tackles regional food security with launch of first portfolio agriTech startup World of Farming (WoF)
World of Farming (WoF) aims to reduce soaring costs of livestock feed through its patent-pending circular farming proprietary technology that will enable local farmers to grow sustainable & fresh animal feed all year-round in the desert. WoF’s technology is set to cut greenhouse gas emissions from conventional animal feed production & transportation, which is the […]
Alaan launches UAE’s first business card with up to 2% cashback
Alaan has launched UAE’s first business cashback card. Business customers will be rewarded with up to 2% of their spending in cash back. Using Alaan, business owners can issue an unlimited number of cards to their employees. 15 August 2022, Dubai UAE: Alaan, a UAE-based corporate spend-management fintech, announced the launch of an industry-first business cashback […]
July 2022 Records Highest Real Estate Transactions in 12 years
July 2022 recorded 7,092 total sales transactions worth AED 21 billion. July 2022 recorded 42,698 rental leases: 56.04% were new leases, and 43.96% were renewals. Dubai, UAE, 11 August 2022: According to Property Finder, the MENA’s leading PropTech company, July 2022 recorded 7,092 total sales transactions volume worth AED 21 billion, which is considered the […]
IT Pro Day Award Submissions Open Now
Dubai, United Arab Emirates, August 10, 2022—Nominations for the IT Pro Day 2022 Awards are now open online at ITProDay.org. Created by SolarWinds (NYSE:SWI), a leading provider of simple, powerful, and secure IT management software, the annual IT Pro Day holiday honors and recognizes the critical but often unseen work IT pros do to keep our computer networks operating. Though […]
Fostering Advanced Digital Services:
“Tamam” Launches Murabaha FinancingTamam Financing Company, the first Saudi company issued a license for consumer micro-financing in the Kingdom by the Saudi Central Bank (SAMA), announced the launch of Murabaha financing. The Tamam platform will offer the digital installments service and enable customers to purchase products from e-commerce stores with instant access to financing and flexible repayment options […]
Bain & Company appoints Roberto Prioreschi to head Southern Europe, Eastern Europe and Middle East division as it expands regional presence with offices in 10 cities and 1,900 people
Roberto Prioreschi assumes role of SEMEA Managing Partner, with responsibility for the firm’s business in Italy, Spain, Portugal, Greece, Poland, Turkey, and the Middle East. Bain & Company announces the opening of two new offices in Lisbon, Portugal and Athens, Greece. With this further expansion, Prioreschi is at the helm of an area with offices […]
Finastra event highlights key considerations when launching a digital bank
Key takeaways include that people are as important as the technology, but without the right technology that can foster innovation and accelerate time to market, even a modern mindset can stumble Dubai, United Arab Emirates – August 10, 2022 – Finastra, in partnership with Connect Global Group, brought together senior stakeholders in financial services for a virtual event, […]
BinDawood Holding begins roll out of Danube Express stores at Jeddah and Makkah Haramain High Speed Railway Stations
The openings mark first Express Store format for Danube with two more to follow in 2022 Jeddah, Saudi Arabia; 10 August 2022 – BinDawood Holding Co. (Tadawul: 4161 and the “Company”), one of the leading grocery retail operators of hypermarkets and supermarkets in the Kingdom of Saudi Arabia (‘KSA’) today announced the official opening of two Express […]
Saudi EXIM Bank chooses to use SAS technology for Model Risk Management
Riyadh, KSA, 10 August 2022 – SAS, the leader in analytics, today announced that Saudi Export-Import Bank (Saudi EXIM Bank) chooses to use SAS technology to increase the governance and efficiency of their risk operations and reporting with model risk management solutions. The Saudi EXIM Bank was established in 2020 to promote the export of Saudi […]
Kyndryl Awarded Continuity and Resilience Provider of the Year in the Middle East
DUBAI, United Arab Emirates, 04 August 2022– Kyndryl (NYSE: KD), the world’s largest IT infrastructure services provider, today announced that it won the 2022 BCI Middle East Continuity and Resilience Provider (Service/Product) Award. The award recognizes the contributions of Kyndryl’s Security and Resiliency practice in the region and its leadership in the business continuity, risk and resilience space. “We are honored to […]
DIFC Launches First Global Family Business and Private Wealth Centre
DIFC is creating a hub for global and regional family-owned businesses, UHNWIs and Private Wealth· The initiative is in line with DIFC’s 2030 strategy objectives, which will enable DIFC to double in size and its economic contribution to Dubai’s GDP. The strategy also supports sustained economic growth and further differentiates Dubai as a global […]
MUFG Research: Contours of the GCC ESG ecosystem set to accelerate
The GCC set to become a market leader in the global energy transition by 2050 COP 27 and COP 28 in Egypt and the UAE to accelerate conversations around transition to clean energy in the Middle East, including hydrogen, solar and wind Favourable regional intrinsics translates into extremely low costs for renewable power, which in […]
Geidea Becomes Payment Service Provider for Saudi-based Online Grocery Delivery platform “NANA”
Partnership will facilitate the acceptance of digital payments through Geidea’s leading digital solutions Riyadh, Saudi Arabia, 08 August 2022: Geidea, a leading Fintech company in Saudi Arabia, has partnered with Nana Direct – a Saudi-based online grocery shopping platform – to enable the acceptance of digital payments for Nana delivery network in addition to providing customers with […]
SmartCrowd Secures CMA License To Expand Into Saudi Arabia
The award-winning digital real estate investment platform will soon be available in the Kingdom SmartCrowd Holdings, a regional pioneer in fractional real estate investments, has been granted a FinTech experimental license by the Saudi Capital Markets Authority (CMA). SmartCrowd is currently working on completing business requirements for the upcoming launch of its Real Estate Funds Distribution […]
Alkhair Capital cements its position as one of the top 10 financial institutions in Saudi Arabia with assets undermanagement worth over SAR 13 billion
Based on the Capital Market Institutions Report Assets under management reach SAR13.42 billion in Q1 2022, an increase of 34.6% compared to the same period last year Riyadh, Saudi Arabia; 7 August 2022: Alkhair Capital has strongly established itself in the top 10 out of 72 financial institutions in the Kingdom of Saudi Arabia in terms […]
Ministry of Investment reports 49 closed deals worth at least $925 million in Q2 2022
· The 49 deals are expected to create about 2,000 new jobs for the Saudi economy · Q2 2022 saw closed investment deals in diverse sectors, including manufacturing, real estate, ICT, tourism, entertainment, sports and entrepreneurship · MISA’s Q2 2022 Investment Highlights report explores economic growth drivers, with a focus on the tourism sector and investment […]