Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
Arthur D. Little launches new ‘AFAQ’ Program to foster new generation of Saudi consultants
The 12-month program will prepare local up-and-coming talent for consulting positions Participants will gain experience by interacting with Arthur D. Little teams and working with clients on projects AFAQ begins in February 2022 and applications are now open Riyadh, Saudi Arabia – 19 December 2021: Arthur D. Little (ADL), a leading management consultancy firm with the […]
SWIFT delivers major milestones in strategy for instant and frictionless transactions, and sets the stage for global adoption in 2022
Co-operative highlights significant momentum in 2021 as it delivers at pace to make instant, frictionless transactions a reality Global financial community demonstrates strong support for strategy adoption Industry set for accelerated transformation next year with ISO 20022 migration and the activation of SWIFT’s evolving platform Brussels, 14 December 2021 – A year after sharing a bold […]
Mastercard partners with Schoolvoice to transform payment ecosystem in education sector across MENA
Riyadh, KSA; 16 December 2021 – Mastercard has partnered with Schoolvoice, a school-parents communication platform based in the UAE, to digitize the education experience for schools in the Middle East and North Africa (MENA) region. The collaboration will help simplify communications and enable automated payments between parents and schools. Any school can be onboarded in Schoolvoice […]
The Family Office partners with global asset managers to offer access to exclusive investment opportunities
The Family Office Company B.S.C. (c) is providing its clients with access to exclusive private market investments, that are normally unavailable to individuals in the public domain. The firm is partnering with global asset managers to unlock these exciting alternative investment opportunities for its clients that have the potential to outperform the public markets. After creating their investment […]
Dubai Government celebrated for advances in digital innovation and technology by JAGGAER/Tejari
The Tejari Procurement Excellence Awards highlighted some of the most innovative and forward-thinking initiatives implemented by the Dubai Government using JAGGAER technology to transform the role and impact of procurement Dubai, United Arab Emirates: 15 December 2021: Innovation and digitalization in Dubai Government were celebrated as part of the inaugural Tejari Procurement Excellence Awards, with the […]
Successful completion of stc Secondary Public Offering with a total offering size of SAR 12 billion
The secondary public offering of 6.0% of stc’s share capital was completed successfully, with a total offering size of SAR 12 billion The Offering was a resounding success and was oversubscribed by retail and institutional investors The structuring and execution of this secondary offering, the first of its kind in the Saudi capital market, will […]
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Mastercard and ProgressSoft Partner to Simplify Remittance Solutions across Middle East and North Africa
Collaboration to simplify and speed up cross-border remittances for consumers Enables banks to onboard Mastercard Cross-Border Services within half the time as compared to before Riyadh, KSA – 14 December, 2021 – Mastercard has entered into a strategic partnership with the real-time payment solutions company, ProgressSoft, to ease the integration of Mastercard Cross-Border Services and accelerate […]
First-of-its-Kind Sustainability Framework Empowers Data Center Industry to Take Control of Sustainability Goals
The rise in digital demand and increased pressure from key stakeholders drives the need for standardized environmental-impact reporting for data centers Schneider Electric’s framework proposes 5 key areas of impact to address with 23 key metrics in Beginning, Advanced and Leading categories Dubai, United Arab Emirates – December 14, 2021 – Schneider Electric has released a comprehensive novel […]
YORK signs MoU with King Abdullah Port to strengthen efforts to transform Saudi Arabia into top global logistics hub
Agreement aims to improve the Kingdom’s marine services by providing marine vessel maintenance and repair services In line with Saudi Arabia’s Vision 2030 goal to develop the capabilities of the marine sector in the Kingdom, the Ports Development Company (PDC), the owner and developer of King Abdullah Port, signed at its headquarters in King Abdullah […]
The Arab Monetary Fund (AMF) announces an MoU with Mastercard to join forces in facilitating the growth of payments activities across MENA region and beyond
The interoperability between Buna and Mastercard will allow participants to substantially increase their footprint in the payment industry in the region and beyond Riyadh, 13 December 2021: The Arab Monetary Fund (AMF) and Mastercard, announced today the signing of a Memorandum of Understanding (MoU). Under the terms of this MoU, Mastercard and Buna (the cross-border and multi-currency payment […]
Almarai Honors the winners of its Award for Veterinary Medicine in the GCC for its 13th
In a ceremony held in Makkah Al-Mukarramah under the patronage of His Excellency the Director of King Faisal University, Dr. Muhammad bin Abdulaziz Al-Ohali, and His Excellency the Mayor of the Holy Capital, Eng. Muhammad Al-Quwais. Almarai has honored the winners of the thirteenth session of the Almarai Award for Veterinary Medicine for the countries […]
Digitalization readiness key to unlocking SME growth potential in Middle East & Africa, says new Mastercard white paper
SMEs say digitalization is essential to staying competitive in a transformed business and economic environment White paper follows release of Mastercard MEA SME Confidence Index 2021 Market insights for the UAE, Saudi Arabia, Egypt, Nigeria, Kenya, Ivory Coast and South Africa reveal a blend of diverging perspectives and widespread agreement on key benefits of a […]
Noon.com closes its biggest ever Yellow Friday Sale with a bang
Noon’s flagship sale event was filled with celebrity surprises, mega deals, stunts, and exciting events Riyadh, KSA. 9th December, 2021: noon.com, the region’s homegrown digital marketplace, ended its craziest sale of the year, the Yellow Friday Sale, with a bang after a 9-day extravaganza across KSA, the UAE and Egypt. Noon’s biggest ever Yellow Friday sale […]
JAGGAER/Tejari launches inaugural awards in celebration of Dubai Governments’ advances in digital innovation and technology
The Tejari Procurement Excellence Awards highlight some of the most innovative and forward-thinking initiatives implemented by the Dubai Government using JAGGAER technology to transform the role and impact of procurement During the ceremony, JAGGAER/Tejari signed a Memorandum of Understanding (MoU) with Dubai Future Foundation to launch a new system to innovative the procurement process Dubai, […]
Wa’ed concludes six-city roadshow in Makkah, announcing new seed grants and VC funds to four Saudi-based startups
Saudi Aramco’s entrepreneurship arm has announced up to SAR 7.65 million to four entrepreneurs during the final stop of the nation-wide Wa’ed 2021 Entrepreneurship Roadshow With the final stop concluded, Wa’ed has now dedicated over SAR 43.6 million in financial aid to 28 Saudi entrepreneurs throughout the entire Roadshow campaign December 8, 2021 – Wa’ed, the entrepreneurship arm […]
Economist Impact and Mastercard study reveals that Middle East and Africa is a fertile ground for the growth of super-apps
Super-apps offer a single location from which a consumer can engage in diverse commercial transactions, from calling a cab to paying an electricity bill Wide-ranging study by Economist Impact, the research and analysis arm of The Economist Group, commissioned by Mastercard Middle East and Africa reveals that super-apps have emerged as a business model with […]
Cedar Rose to Host Webinar on AML and UBO Compliance Requirements in the UAE and GCC Region
Government authorities at international and national levels have increased the pressure on the fight against money laundering and terrorism financing. Identification and verification of the beneficial ownership of corporate third parties (customers, suppliers, agents, consultants, etc.) are now an essential component of the Know Your Customer (KYC) onboarding and remediation processes. Cedar Rose will host […]
W7Worldwide Becomes First Homegrown Saudi Agency to Win Three Prestigious MEPRA Awards
Leading independent communications agency W7Worldwide is the only homegrown Saudi agency to enter and win 3 Middle East Public Relations Association (MEPRA) Awards, competing with the region’s leading agencies. W7Worldwide succeeded in being shortlisted in 13 of the 56 categories, with more than 88 agencies and in-house communications teams participating in the prestigious MEPRA Awards. W7Worldwide swept […]
Mobile Money Transaction Values to Exceed $870 Billion in Emerging Markets by 2026, as the Payments-as a Platform Model Accelerates
Basingstoke, UK – 6th December 2021: A new study from Juniper Research has found that the total value of mobile money transactions in emerging markets will exceed $870 billion in 2026, up from $555 billion in 2021; respresenting growth of almost 60%. Mobile money in emerging markets includes microinsurance, microloans, microsavings and mobile money transfer. This growth will […]
stc pay initiates partnership with Moven to further enrich the customer experience
stc pay now has a new enhancement allowing customers to track their money & spending Riyadh, December 5, 2021 – With stc pay having over 7.4 million loyal users, they never fail to find new ways to enhance their services for their audience and customers. stc pay executes smooth, contactless transactions innovatively, pushing for a cashless […]
SADAFCO partners with HIWPT to empower young Saudi Arabian nationals
Jeddah, Saudi Arabia: December 5th 2021 – Saudia Dairy and Foodstuff Company (SADAFCO) has extended its agreement with the Higher Institute of Water & Power Technologies (HIWPT), a vocational training institute in Rabigh to welcome the fifth group of technical trainees. Developed and conducted in partnership with the HIWPT, the training program empowers young Saudi Arabians by teaching […]
REDTAG wins the prestigious RetailME Award 2021 for the ‘Most Admired Brand Campaign of the Year’
In an annual symposium hosted by the Middle East Retail Forum at Conrad Dubai, value fashion and homeware brand, REDTAG, won the RetailME Award 2021 for the ‘Most Admired Brand Campaign of the Year’, adding to a year of many firsts and recognitions. December 5th, Dubai, UAE: REDTAG, the Middle East’s leading value fashion and homeware […]