Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
Innovating Nonstop for Faster Digitalization
HUAWEI DAY KSA 2021 held in Riyadh on the 30th of November Huawei is a key enabler of digitalization in Saudi Arabia through its range of technology and services Saudi Arabia – December 02, 2021: HUAWEI DAY KSA 2021 was held in Riyadh on the 30th of November, bringing together industry thought leaders, ICT experts, ecosystem […]
Mastercard and Meta join forces to support the digitization and growth of SMEs in MEA through times of uncertainty
Collaboration to benefit SMEs in the Middle East and Africa region Riyadh, KSA; 1 December 2021 – The world is moving at a faster pace with globalization being fuelled by technology which is enabling companies to scale beyond borders at a pace of months as opposed to years previously. In this context, Mastercard is collaborating with […]
Wa’ed announces a SAR 19 million investment in Saudi-based fintech marketplace Lamaa, in a round co-led with Raed Ventures
Saudi Aramco’s entrepreneurship arm Wa’ed and Raed Ventures co-lead a funding round in the early payment invoice factoring company Lamaa December 1, 2021 – Wa’ed, Saudi Aramco’s entrepreneurship arm, has announced a SAR 19 million Pre-Series A investment co-led with Raed Ventures in Lamaa, the Saudi-based fintech startup providing financing solutions for small and medium enterprises (SMEs), […]
Microsoft’s Corporate VP & President of Middle East and Africa praises Saudi Arabia’s progression towards its Digital Economy
Samer Abu-Ltaif, Microsoft’s Corporate VP & President of Middle East and Africa (MEA) region, praised Saudi Arabia’s great transition on the “digital economy” map, which has become one of the highlights of its evolution of future economic development and diversification. Abu-Ltaif’s observation comes after his visit to Saudi Arabia last week, where he lauded the Saudi government’s […]
HyperPay receives the technology permit from Saudi Payments to activate new “mada” services for its merchants in Saudi Arabia
20 billion SR the value of e-commerce sales via “mada” cards in the Saudi market The payment gateway, HyperPay, continuously enhances their online payment solutions experience in KSA Riyadh, KSA, 1 December 2021: The MENA region’s leading payment gateway, HyperPay, announces receiving the required technology permit from Saudi Payments an organization that operates entirely under the supervision of […]
Saudia Dairy and Foodstuff Company (SADAFCO) welcomes new CEO
RIYADH, November 29, 2021: SADAFCO has announced that Patrick Stillhart has taken the helm as CEO of the company this month. With over 25 years of experience in the food FMCG industry with global conglomerates in Asia-Pacific, Africa, the Middle East, and Europe, he brings a fresh perspective to this position. Faisal Al Ayyar, Vice Chairman at […]
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Paymentology Joins Mastercard as a Network Enabling Partner
RIYADH, Saudi Arabia, November 30 2021 – Mastercard, the leading technology company in the global payments industry, has selected leading cloud-based issuer payment processor Paymentology to join its Network Enablement Partner program in the MENA region. The partnership will offer new customers live issuance in accelerated time. The Network Enablement Partner program is a Mastercard initiative to enrich the fintech and […]
Technology is the Primary Disruptor and Value Creator Across All Sectors
By Juerg Kronenberg, Partner, Bain & Company, Middle East and Matthew Crupi, Partner, Bain & Company, Dallas Dubai, UAE, 29 November 2021: Most of the largest creators of value in recent years, regardless of sector, have one thing in common: technology is critical to their business. In general, companies and sectors with less tech-enabled innovation […]
stc pay Wins Gold at the 2021 MENA Effie Awards The App That Redefined Banking
RIYADH, November 28, 2021: stc pay won Gold at the 2021 MENA Effie Awards held on November 24 in Dubai. stc pay won in the Sustained Success – Services category and was recognized as the most successful service since its launch. This award reflects the continuous effort on stc pay’s behalf to promote its digital […]
Innovative and impactful: Kiri claims ‘Best of Middle East’ title at 2021 Gama Innovation Conference & Awards
The leading Bel Group brand was honored for Kiri Greek Style Cheese’s success 2021 Gama Innovation Conference & Awards celebrated the best and brightest product development projects of the last year Kiri Greek Style has achieved an 89% product acceptance rate and 5% market share in the UAE within the first three months of launch as […]
Almarai tops food companies as the healthiest brands for 2021 in the UAE
Almarai Company topped the international food companies in the latest YouGov ranking for the best health brands in 2021 in the United Arab Emirates. Almarai scored 47.3, and the list included many international companies. The ranking is based on YouGov BrandIndex score, which measures the overall brand health to indicate its success by calculating the […]
GCCIA hosts annual GO15 meeting in Dubai; calls for intensifying international collaboration towards energy transition and tackling climate change and resiliency issues
The Global event serves as an international strategic platform to discuss grids of the future, e-mobility, digitization and storage November 25, 2021, Dubai–The GCC Interconnection Authority (GCCIA) successfully hosted and organized the annual GO15 meeting, the world’s gathering of the largest power grid operators, at the Sofitel Jumeirah in Dubai. The meeting was convened and […]
Hisense Expands its B2B Footprint in the Middle East
Launches intelligent products and solutions that redefines the business spectrum Dubai, UAE, 25 November 2021: Hisense, one of the world’s leading consumer electronics manufacturers dedicated to developing and producing cutting edge technology, has successfully expanded its footprint in the B2B sector, focusing on intelligent Smart City solutions, interactive displays and 138-inch all-in-one business solution screens during its participation in the GITEX Technology Week 2021. From retail […]
Diriyah Gate Development Authority unveils its vision for Diriyah Square, the commercial heart of the Diriyah giga project
Riyadh, November 2021 – Diriyah Gate Development Authority (DGDA) today officially unveils its vision for Diriyah Square, the commercial heart of its 190 Billion SAR [50 Billion USD] Diriyah giga-project on the edge of Riyadh, Kingdom of Saudi Arabia – scheduled to be open by 2024. Bringing together wonderful experiences for young and old, Diriyah Square is […]
LG ELECTRONICS ANNOUNCES NEW CEO AND OTHER CHANGES TO AGGRESSIVELY TACKLE 2022 AND BEYOND
Advancing Business Portfolio with Greater Focus on Digital Transformation JEDDAH, Nov. 25, 2021 — LG Electronics (LG) today announced that William Cho, its Chief Strategy Officer, will also take on the responsibility of Chief Executive Officer effective December 1. LG’s top strategist since 2019, Mr. Cho was responsible for establishing LG’s Business Incubation Center and fostering new businesses opportunities […]
Schneider Electric and Prisma Photonics partner to increase integrity and efficiency for Oil and Gas pipeline operators and owners
More accurate event detection and classification Improved event location accuracy (at a resolution of less than 10 m) Identification of multiple, simultaneous events without interference or crosstalk Dubai, UAE, November 24 2021 – Schneider Electric, the global leader in the digital transformation of energy management and automation, and Prisma Photonics, a provider of next-generation fiber sensing […]
W7Worldwide’s Guide for CEOs to Effective Leadership Towards COVID-19 Recovery
Along the COVID-19 crisis cycle of disruption, management, and recovery, important decisions have become part of everyday for CEOs and big decisions take courage. During the first phase of the crisis, business leaders formulated and activated their crisis plans to react to what was needed immediately. The management phase presented an uncertain wait and see phase with […]
Online payment fraud increases by 208% amid the Black Friday season
The growth of phishing attacks mimicking e-payment pages was spotted in the run-up to the Black Friday period. The total number of financial phishing attacks disguised as e-payment systems more than doubled from September (627,560) to October 2021 (1,935,905), indicating a 208% increase. This and other findings are in Kaspersky’s ‘Black Friday 2021: How to Have a […]
Farm’s Select wins the Nielson Award for Best Innovative Products in the Kingdom of Saudi Arabia
According to Nielson Company study, ” Farm’s Select” juices, one of Almarai’s products, won the first prize “Super Star” as the best innovative product in the Saudi market. The study analyzes the purchasing behavior of consumers regarding products of different companies around the world. “We understand the importance of making healthiest choices for the individual and […]
PepsiCo launches Greenhouse Accelerator in MENA to advance sustainability and innovation through startup collaboration
Circular Economy Startups or Entrepreneurs with breakthrough packaging technology can now apply online for a spot on the PepsiCo Greenhouse Accelerator: MENA Sustainability Edition Riyadh, Saudi Arabia – 22 November 2021 – PepsiCo has announced the launch of its first MENA edition of the Greenhouse Accelerator program, active globally since 2017. The six-month initiative seeks to […]
Collinson Valuedynamx expects White Friday 2021 to show a return to peak spend through traditional retail categories despite a recent spike in travel-based spend
Valuedynamx urges retailers to align with travel reward programmes to maximise spend during key retail peaks For reward programmes, this alignment enables relevance and engagement through non-travel everyday spend Dubai, UAE – 23 November 2021: In what has been an unusual year where different trends and behaviours have emerged, early year-on-year spending patterns indicate consumer spend […]
Payguru and Iyzico Launch Direct Carrier Billing for Digital Wallets in Global First
TPAY MOBILE company Payguru partners with leading Turkish virtual POS provider to enable first-ever digital wallet top-ups via DCB 23rd November 2021 – Payguru, a TPAY MOBILE FZ-LLC company, today announces the launch of a new use case for Direct Carrier Billing (DCB) in partnership with Iyzico, the leading provider of virtual Point of Sale solutions (POS) in […]