Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
Huawei’s Ryan Ding: GUIDE to a Better Digital Economy #MWC22
[February 28, 2022] At the Huawei Day 0 Forum held the day before Mobile World Congress 2022, Ryan Ding, Huawei’s Executive Director and President of the Carrier Business Group, said that operators can work on connection density, computing diversity, and carbon reduction intensity, and called on operators to join Huawei in its GUIDE business blueprint […]
LG ADVANCES RIYADH MANUFACTURING FACILITY TO PRIORITIZE AIR SOLUTION PRODUCTION
LG build its Variable Refrigerant Flow (VRF) systems in Saudi for the first time JADDEH, 27 FEB – LG Electronics (LG) continues to prioritize its investment in Saudi Arabia with the recent upgrades to its Riyadh facility. In partnership with Al Hassan Ghazi Ibrahim Shaker Co. (Shaker), Saudi Arabia’s leading importer, manufacturer and distributor of […]
Nutanix’s Launch of New Product Portfolio to Ease Path to Hybrid Multicloud for Saudi Organizations
Nutanix Cloud Platform Delivers Complete Solution to Run Any Application in Any Cloud RIYADH, KSA, 27th February, 2022 – Nutanix, a leader in hybrid multicloud computing, announced today the global availability of their simplified product portfolio to align with rapidly evolving customer requirements. The Nutanix Cloud Platform delivers a consistent operating model across all types […]
Amazon Payment Services Announces New Program to Accelerate Online Business Growth for MENA Startups
Launched at the STEP Conference 2022, the ‘Startups Go Online’ suite offers startups a range of benefits such as free monthly account management, discounted bank rates, AWS Credits and more Regional startups can apply for the ‘Startups Go Online’ suite, valid until the end of 2022, by visiting the Amazon Payment Services website Dubai, United […]
Finastra partners with DataGear to help corporate banks in Egypt optimize core processes
Reseller agreement will enable DataGear customers to automate corporate banking operations, reduce costs and seize new opportunities for growth Dubai, UAE – February 23, 2022 – Finastra today announced its partnership with DataGear, a leading service provider for banking and financial services in Egypt, to enable corporate banks to rationalize core operations, automate compliance and […]
Saudi Arabia Startup Selected for PepsiCo Greenhouse Accelerator Program
Ten innovative startups from KSA, UAE, Jordan, and Lebanon on track to join PepsiCo’s mentorship program, supporting their growth in innovative sustainable packaging Riyadh, Saudi Arabia – 23 February 2022 – PepsiCo has announced that Okeanos, a Saudi sustainable innovation company developing technologies to immediately reduce plastic pollution, is one of the ten companies selected […]
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Mobily reports outstanding 2021 net income growth of 36.8% to SAR 1,072 mn with proposed cash dividends raised by 70% YoY
Mobily delivers highest top- and bottom-line levels since 2014, reaching SAR 14.8 bn and 1.1 bn respectively in 2021 Operational Cash Flow2 increases by 36.9% to SAR 3.5 bn, thanks to steady growth in EBITDA coupled with CAPEX ramp-down on completion of strategic objectives Solid set of results supports the Board’s recommendation to raise cash […]
Nuwa Capital backs Saudi Arabia’s EdfaPay, in its latest Fintech investment in the region
Riyadh, Saudi Arabia, February 20, 2022 – Nuwa Capital announced its latest investment in Saudi Arabia, through its participation in a $1.6M (SAR 6M) pre-seed round of Saudi-based fintech company EdfaPay. The round was co-led by Wallan Investment Group and InspireUs. The company has built a softPOS system, which allows any merchant to accept payments […]
Mastercard Expands Consulting with Practices Dedicated to Crypto, Open Banking and ESG
Riyadh, KSA; 17 February 2022: The business world is facing an influx of innovation: changing consumer preferences, rapid digital transformation and geopolitical shifts. To help businesses evolve and supercharge their growth enterprise-wide, Mastercard today announced that it is expanding its preeminent payments-focused consulting service with new practices dedicated to Open Banking, Open Data, Crypto & Digital […]
Arab Academy for Management, Banking and Financial Sciences Joins Forces with SAS to Bridge Skills and Talent Gap in MENA
The partnership will launch first of its kind programs for post Graduate degree AAMBFS and SAS intend to elevate the caliber of talent within MENA’s financial sector Dubai, United Arab Emirates, (17 February 2022): To address the skills and talent gap facing the financial industry within the region, the Arab Academy for Management, Banking and Financial Sciences […]
Almarai CEO meets Irish Minister of Agriculture, Food and Marine
Almarai CEO, Abdullah bin Nasser Al-Badr, met the Irish Minister for Agriculture, Food and the Marine, Mr. Charlie McConalogue, today on Wednesday at the company’s headquarters. During the meeting, Al-Badr discussed with McConalogue ways of cooperation between the company and the Irish Ministry of Agriculture, Food, and the Marine and reviewed opportunities that might pave […]
AlinmaPay is the first digital wallet that been Certified by Saudi Payments to be a service provider for SADAD payments
AlinmaPay has inaugurated a new service for governmental and commercial bills through SADAD as the first digital wallet in KSA that been technically Certified by Saudi Payments to work as SADAD service provider which allow customers to view and pay zakah, taxes, government bills, fines, commercial bills and other digital payments using safe and fast […]
Almarai shares its experience in using technology in the food industry
Faisal bin Marzouq Al-Fahadi, the Executive Vice President for Corporate Affairs in Almarai, revealed that the use of fourth-generation industrial technology applications in the company’s manufacturing, production and logistics facilities had supported Almarai in occupying a leading position in the region as the largest vertically integrated company for dairy products in the world and the […]
Four Metrics for Measuring DEI at Work
Many actions can advance diversity, equity, and inclusion, but organizations often lack data to know how well they’re working. Here’s where they can do better. By Julie Coffman, Chief Diversity Officer, Bain & Company, Chicago and Karen Khalaf, Associate Partner, Bain & Company Middle East, in collaboration with Grads of Life With recruitment and retention […]
GoDaddy’s Regional MENA Survey 2021 Finds 43% of Saudi Businesses Plan to Enhance Social and Digital Presence in 2022
Overall outlook for a post-COVID period is positive – 66% of Saudi entrepreneurs believe they will emerge stronger than before Annual survey highlights COVID-19 challenges on business growth for local small business For social commerce; Instagram was the most popular platform (68%), Facebook (62%), WhatsApp (62%) Jeddah: GoDaddy, the company that empowers everyday entrepreneurs around the world, […]
Diversification and innovation in the face of global challenges
Despite the ongoing disruptions of the pandemic to our society, a post-COVID business landscape is now emerging. The enterprises that have successfully come out the other side of this pandemic are now more resilient and better hardened against future shocks. What unites many of these front runners is that they saw the pandemic as an […]
IDC research exposes data inefficiencies: 88 percent of organizations globally still hindered by using legacy technologies for today’s problems and data sets
Alteryx introduces the newest version of the Alteryx Platform (2021.4) to democratize analytics and empower data native workers with new enterprise level innovations for seamless data efficiencies ALRIYADH, KSA— February 10, 2022 — Alteryx, Inc. (NYSE: AYX), the Analytics Automation company, today issued findings from an Alteryx-commissioned IDC Infobrief, revealing that approximately 62.4 billion data and analytic […]
Huawei ranked among Top 10 Most Valuable Brands of 2022
Brand Finance has named Huawei among the top 10 most valuable brands for 2022 in its recently published Brand Finance Global 500 2022 report, jumping up six places from 2021 despite facing many unforeseen challenges. The Chinese tech giant has ranked the world’s 9th most valuable brand for 2022. Its brand value improvement defies the odds amidst the […]
SBM and Nutanix Strengthen Partnership to Help Saudi Organizations with Digital Transformation Initiatives
Riyadh, Saudi Arabia, 10th February, 2022 – Nutanix (NASDAQ: NTNX) a leader in hybrid multicloud computing, announced that it has deepened its engagement with Saudi Business Machines (SBM), a leading IT solutions provider in Saudi Arabia, by signing the company as a ‘Cloud Champion’. The two companies will work closely together in providing Nutanix’s market-leading hyperconverged infrastructure solutions to […]
TAWAL of stc Group fully acquires Awal Telecom in Pakistan
Riyadh, KSA, 9 February 2022: TAWAL, the leading Saudi ICT infrastructure company and one of stc Group subsidiaries, has announced its entry into the Pakistan’s market via a full acquisition of Awal Telecom. The move, which is TAWAL’s first foray outside Saudi Arabia, is an initial step in the company’s international expansion roadmap. TAWAL has agreed in […]
Mastercard expands its Business Intelligence Platform for Financial Institutions in the Middle East and Africa
Mastercard Market Trends is an interactive business intelligence platform that brings together up-to-date payments data, consumer and industry insights February 8, 2022 | Riyadh, Saudi Arabia: Mastercard has announced the expansion of its new interactive business intelligence platform Mastercard Market Trends in the Middle East and Africa. The new platform provides a comprehensive view of payments insights, competitive intelligence and industry trends […]
Tamam Financing and SIMAH join hands to build a robust, modern digital financial sector #LEAP22
Supporting LEAP’s drive to achieve a better future for humanity, • MoU to step up collaboration in the fields of data analysis, credit systems and credit risk management • Employing modern technology and AI in credit rating processes and credit report analysis • Collaboration serves Tamam’s strategy of providing consumer micro-lending solutions through a fully […]