Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
stc pay Launches National Day Campaign in Celebration of Saudi Community Spirit
Riyadh, Saudi Arabia; September 21, 2022. In celebration of Saudi National Day, stc pay — Saudi Arabia’s leading mobile wallet — offers consumers across the country access to an exclusive range of deals. Launched to spotlight the growth of the Kingdom’s digital economy and reward customers for their loyalty, stc pay’s National Day campaign offers consumers […]
Visa and Al Rajhi announce winners of first Saudi Arabia edition of Visa She’s Next program
The winners of the Visa She’s Next program were announced at an awards ceremony. The award-winning women-owned small businesses in Saudi Arabia will each receive a US$10,000 grant and one year of business coaching from IFundWomen. Winners were selected by an independent committee from more than 30 applicants operating in various sectors, from textiles to […]
Forbes China’s Top 100 Global Outstanding Chinese of 2022
On September 13, Wang Xiang, Partner and President of Xiaomi Group, was selected as one of the “Outstanding People” in the “2022 Forbes China – Global 100 Outstanding Chinese” awards. Forbes China noted that after Wang Xiang joined Xiaomi, he led the consumer electronic and smart manufacturing companies rapid global expansion efforts, in which it […]
IBM Announced as COP 27 Technology Partner
IBM Will Demonstrate How Technology Can Help Align Sustainability Goals To Business Objectives RIYADH, SEPTEMBER 18, 2022 – IBM – a leading hybrid cloud, AI, and business services provider – has been named technology partner of the 2022 United Nations Climate Change Conference, or COP27, to be hosted by the Egyptian government in Sharm-el-Sheikh during November 6 to 18. At the […]
Investopia and SALT Announce a New Strategic Partnership
New York, September 15, 2022 Investopia, the global investment platform launched by the UAE Government in September 2021, announced a new strategic partnership with SALT, a premier global thought leadership forum, at a ceremony held at SALT New York 2022.The parties signed a Memorandum of Understanding outlining collaboration on a joint event to take place in […]
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DIGITAL PAYMENTS AND VIRTUAL CREDIT CARDS CONTINUE TO GROW ACROSS THE MENA REGION
Dubai, 14 September 2022: The growing use of virtual Visa corporate credit cards across the MENA region has been accelerating as companies adapt to the rising digital economy. Based on newly released data by Tribal Credit, a company that provides comprehensive digital financial solutions for companies at all stages of development, new virtual cards have increased […]
SCAI invests in Joint Venture with SenseTime to deliver innovative AI-powered solutions across MEA region #GlobalAISummit
SAR 776 mllion investment will contribute to the development of Saudi AI ecosystem and further strengthen the Kingdom’s position as a leading global hub for emerging technology Riyadh, Saudi Arabia – 13 September 2022: The Saudi Company for Artificial Intelligence (SCAI), a wholly owned subsidiary of the Public Investment Fund (“PIF”), which aims to foster innovation […]
Prince Mohammed Bin Salman Nonprofit City and The Ministry of Culture’s Fashion Commission sign MoU to empower Saudi fashion industry
• The Memorandum of Understanding will nurture young Saudi talent and incubate entrepreneurs in the fashion sector • Developing the fashion sector aligns with the City’s broader goals to foster innovation and creativity Riyadh, Saudi Arabia; September 12, 2022: The Prince Mohammed Bin Salman Nonprofit City and the Saudi Fashion Commission have signed a Memorandum […]
Petromin expands its footprint to Malaysia
through a joint venture with DRB-HICOM BerhadJeddah, Saudi Arabia,September 12, 2022Petromin Corporation (“Petromin”), a leading Saudi company in advanced lubricants, automotive technology, multi-modal mobility, multi brand dealership and sustainable transportation segment, has entered a joint venture with the innovative business conglomerate, DRB-HICOM Berhad – forerunners in the automotive manufacturing, assembly, and distribution industry of Malaysia. Petromin shares this collaboration with a ‘Joint […]
Software AG appoints Mamdouh Al-Olayan as Country Manager for Saudi Arabia
11 Sep 2022, KSA: Global leader in enterprise software, Software AG (Frankfurt MDAX: SOW) announces the appointment of Mamdouh Al-Olayan as Country Manager for the Kingdom of Saudi Arabia. The appointment comes soon after Rami Kichli takes on the larger mantle as Senior Vice President for the Middle East and Turkey to drive the company’s regional growth. With […]
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MIHAS 2022 IN MALAYSIA POISED TO SPUR GLOBAL HALAL ECONOMY
World’s Largest Halal Showcase With Innovative Digital Tools To Capture Cross-border Trade Growth Jeddah, 7 September 2022 – The upcoming 18th Malaysia International Halal Showcase (MIHAS 2022) is set to further stimulate cross-border trade. Organised by the Malaysia External Trade Development Corporation (MATRADE), under the patronage of the Ministry of International Trade and Industry (MITI), MIHAS 2022 is designed […]
2022 EUROMONEY SAUDI ARABIA CONFERENCE LAYS THE FOUNDATION FOR A MORE PROSPEROUS KINGDOM
RIYADH, 07 September, 2022: Over 1,500 people from 30 countries registered to attend the Euromoney Saudi Arabia Conference, taking place today in partnership with the Financial Sector Conference. With 2022 shaping up to be a tough year for the global economy the event sought to analyze Saudi Arabia’s economic performance and its future strategies. Held under […]
Making DEI Work: A View for Companies in the Middle East
By Julie Coffman, Chief Diversity Officer, Bain & Company and Sara Minelli, Associate Partner, Bain & Company Middle East in collaboration with Grads of Life DUBAI — September 7th, 2022 With many countries across the Middle East moving towards advancing diversity, equity, and inclusion (DEI), business leaders have been thinking about the most effective way to […]
HONEYWELL AND EMIRATES NBD TO COLLABORATE ON ADVANCING UAE SUSTAINABILITY GOALS
Agreement to drive innovation and set new benchmarks in building sustainability DUBAI, United Arab Emirates, September 6, 2022 — Emirates NBD, a leading banking group in the MENAT (Middle East, North Africa and Turkey) region, signed a Memorandum of Understanding (MoU) and agreement with Honeywell (Nasdaq: HON) for Honeywell Forge Connected Services to support the companies’ shared […]
IDC to Host 12th Edition of Saudi Arabia CIO Summit in Riyadh as the Kingdom Continues to Embrace the Digital Transformation Goals of Vision 2030
After two years, the IDC Saudi Arabia CIO Summit returns to an in-person format on September 19-20 in Riyadh as the Kingdom continues its rapid transformation towards a digital economy in alignment with the goals of Vision 2030. Hosted under the theme ‘Accelerating the Journey to a Digital-First World’, the highly anticipated 12th annual IDC Saudi Arabia CIO […]
Nutanix Helps Financial Services Organizations in Saudi Arabia Reimagine their Cloud Journey
RIYADH, KSA, 5th September 2022: Nutanix, a leader in hybrid multi-cloud computing, has reiterated its commitment to helping financial services organizations in the Kingdom of Saudi Arabia discover the power of hybrid multi-cloud architecture to enable them to strike a balance between cost, complexity, speed, and scale of operations and generate more revenue. “A key development in the […]
Ajman Bank to Launch World’s First Mastercard Touch Card, Driving Inclusion
Distinctive notches on the Touch Card allow blind and partially sighted people to distinguish the card easily. Riyadh, Saudi Arabia; 1 September 2022: Mastercard and Ajman Bank have strengthened their commitment to inclusion through a new initiative designed to expand access to the digital economy. The world-first Touch Card is an accessible payment card that will allow blind […]
Predictive data intelligence removes hurdles to instant cross-border transactions over SWIFT
New capability leverages SWIFT’s insight on millions of daily transactions to flag upfront when payment may stall because of incorrect payee details. Innovation is the latest in SWIFT’s strategy to eliminate friction and drive instant international payments. Brussels, 1 September 2022 – As part of its ambitious strategy for instant and frictionless transactions, SWIFT today announces a […]
Cartlow Partners with stc pay to Boost Circular Economy Aligning with KSA 2030 Sustainability Vision
Riyadh, Saudi Arabia; August 2022: Cartlow, the leading e-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 while earning stc pay credit. This partnership […]
Geidea to Provide Smart Payment Solutions to Ival’s Distribution Fleet Across Saudi Arabia
Partnership will enable the acceptance of digital payments through Geidea’s leading digital solutions Go Air and Go Lite Riyadh, Saudi Arabia, 31 August 2022: Geidea, a leading Fintech company in Saudi Arabia, has partnered with Ival – a bottled drinking water produced in Saudi Arabia – to enable the acceptance of digital payments for their distribution […]
COP27 Presidency of Egypt Names Boston Consulting Group as Exclusive Consulting Partner
COP27 Will Focus on Strengthening Adaptation and Resilience, Limiting the Impacts of Climate Change, Facilitating a Just Transition, and Increasing Funding and Collaboration for Essential Climate Solutions BCG Will Bring Industry Insight and Analytical Capabilities to Support Egypt’s COP27 Presidency Riyadh, AUGUST 30, 2022—Boston Consulting Group (BCG), one of the world’s leading management consulting firms, […]
Tribal Credit witnesses increase in international business transfers in the MENA region
MENA region saw a 10% increase from the first quarter to the second half of 2022 Dubai/Cairo/Riyadh, August 30, 2022: According to internal data from Tribal, a company that provides comprehensive digital financial solutions, international transfers of companies in MENA for the payment of suppliers, purchase of equipment and raw materials, and corporate services increased 10% […]