Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
stc pay ranked as one of the most popular digital only banks in the middle east
According to a survey conducted by a leading international digital publication Riyadh, November 23, 2021 – Countless consumers have been hopping onto their search engines searching for a digital bank to replace their traditional bank. With contactless payment becoming the norm, stc pay lead this initiative and executed it innovatively for smooth and easy transactions. stc […]
LG Honored With 24 Awards for Innovation Ahead of CES 2022
Various Products From LG Recognized for Contributing to Innovation,Including OLED TVs, Home Appliances and B2B Products Jeddah, Nov. 21, 2021 – LG Electronics (LG) has been recognized once again for its excellence in technology with CES 2022 Innovation Awards, collecting a total of 24 accolades leading up to the largest industry trade show in January. Every […]
REDTAG expands KSA footprint with new store launch in Mujan Park Mall, Khamis Mushait, accompanies it with Half-Back offer
REDTAG, the Middle East’s favourite value fashion and homeware brand, has launched a new retail outlet in the Mujan Park Mall, located in the heart of Khamis Mushait city. The launch was accompanied by an opening Half-Back offer on every purchase worth SAR 300. November 22nd , Riyadh, KSA: REDTAG, the region’s favourite homegrown value fashion brand, […]
Citi CEO Jane Fraser Heads Senior Delegation in Saudi Arabia
Riyadh – Senior officials from Citi, led by CEO Jane Fraser, have recently concluded a successful three-day visit to Saudi Arabia. The delegation called on key government officials, regulators, and select clients. The meetings were opportunities to reiterate Citi’s commitment to supporting its clients in the region’s largest economy. The visit is the first by […]
LEAP to bring together best minds in technology to tackle global challenges
LEAP 2022 set to become the largest global platform to connect pioneers, innovators, and disruptors to explore and engage with the latest in technology 18 November 2021: This February 2022, Saudi Arabia will be hosting the largest technology event ever launched, LEAP, bringing together the global technology community under one roof to tackle the biggest socio-cultural […]
Amid the Great Resignation, Curiosity is an Increasingly Important Skill for Employees, According to New SAS Study
While curiosity can address critical business challenges, many organizations struggle to develop and harness this skill United Arab Emirates – Dubai (November 18, 2021) – In the age of the Great Resignation, curiosity is increasingly recognized as a valuable skill by business leaders. Curiosity is increasingly sought by employers to address some of the biggest challenges […]
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Huawei Global Oil & Gas Summit 2021: Intelligent Oil & Gas Fields Solution
Abu Dhabi, UAE, November 17, 2021: Huawei recently hosted the Global Oil & Gas Summit 2021 in Abu Dhabi, themed Drive Data to Barrel, Embrace Intelligence to Grow. During the summit, Huawei launched a new solution – Intelligent Oil & Gas Fields – designed to help oil and gas enterprises go digital. The solution covers several […]
Refinitiv releases findings of 2021 Islamic Finance Development Indicator
Islamic finance industry projected to reach $4.94 trillion in 2025 Global Islamic finance assets rose 14% to $3.374 trillion in 2020 Saudi Arabia’s Islamic finance assets increased by 18% to $826 billion in 2020 UNITED ARAB EMIRATES – Islamic finance industry is projected to reach $4.94 trillion in 2025 according to the Islamic Finance Development Indicator […]
Drilling for Digital Oil: Is Blockchain the New Digital Oil of The Middle East?
DCS 2021, part of Blockchain World, will examine how the MENA region can develop a multi-billion blockchain economy as the global capital of cryptocurrency. The public cloud services market in the Middle East and North Africa (Mena) region was estimated at Dh7.97 billion ($1.9 billion) in 2020, double what it was in 2016 (Statista). Dr […]
Geidea signs strategic partnership Alamthal Financing to simplify loan financing for Saudi SMEs
New solution to enable auto repayments of loans via Point-of-Sale terminals Riyadh, Saudi Arabia, 16 November 2021: Geidea, the largest fintech company in Saudi Arabia by market share, today announced its partnership with Alamthal Financing, a leader in financing small and medium enterprises (SMEs), to simplify loan financing and repayments for Saudi businesses. Through this new […]
Saudi Arabia’s The Red Sea Development Company Advances Digital Transformation with SAP
RIYADH, Kingdom of Saudi Arabia – 15 November 2021 – The Red Sea Development Company (TRSDC), which is driving the development of the giga-project The Red Sea Project (TRSP), announced today it is advancing its digital transformation with global technology company SAP. Along Saudi Arabia‘s west coast, the Red Sea Project is a regenerative tourism destination spanning 28,000 square […]
Tradeling and Taiwan External Trade Development Council Sign Agreement to Foster B2B Ecommerce Trade
MoU aims to facilitate trade and exports between UAE & Taiwan and enhance investment opportunities across multiple sectors Dubai, United Arab Emirates – November 16th, 2021: Tradeling, the hyper-growing eMarketplace focused on business-to-business (B2B) transactions in the Middle East and North Africa, has signed a Memorandum of Understanding (MoU) with Taiwan External Trade Development Council (TAITRA) […]
Almarai CEO meets Ukrainian Minister of Agriculture and Food
The CEO of Almarai, Abdullah Al-Badr, met today on Monday the Minister of Agriculture and Food of the State of Ukraine, Roman Leshchenko, in Almarai’s headquarters in Riyadh. During the meeting, Al-Badr discussed with Leshchenko ways of cooperation between the company and the Ukrainian Ministry of Agriculture and Food and reviewed opportunities that might pave […]
Mastercard Economics Institute: Lodging Small Businesses Thrive in Middle East and Africa in 2021
Small businesses globally go digital at three-times pre-pandemic levels Riyadh, Saudi Arabia; 15 November 2021: To shed light on the impact the global health crisis – and ongoing recovery – has had on small businesses globally, Mastercard released Recovery Insights: Small Business Reset. The report revealed that in the Middle East and Africa, lodging small businesses have consistently […]
Wa’ed announces a SAR 1.9 million venture capital investment in the Saudi-based startup Qreeb, an ISO-certified digital facility management and procurement platform
14 November 2021 – Wa’ed, the entrepreneurship arm of Aramco, has announced a SAR 1.9 million venture capital investment in Dammam-based Qreeb, a digital B2B e-procurement and facility management platform aiming to streamline supply chain processes by connecting service providers with clients through a unified traceable communication platform. The investment in Qreeb will enable the startup […]
Finastra and WTax collaborate to help asset management firms optimize withholding tax recovery process
Dubai, United Arab Emirates – November 10, 2021 – Finastra is teaming up with WTax, a world leader in withholding tax recovery services, to support asset management firms in recovering withholding tax on behalf of their clients. By introducing Fusion Invest customers to WTax, Finastra will help portfolio and investment managers around the world to deliver net […]
Flexibility, wellness, inclusion: Three imperatives for Middle Eastern businesses in the post-pandemic era
Karam Malhotra, Partner and Global Vice-President, SHAREit Group Since the COVID-19 outbreak, the world of work has witnessed a degree of reform few could have predicted. Despite unprecedented disruption and companies forced to evolve in order to endure, the pandemic has, however unintentionally, resulted in various positives for businesses and industries alike. Remote working has […]
NTT Ltd. Defines Strategic Framework to Drive Sustainability and Commits to Net Zero Emissions by 2040
Global technology leader develops strategic framework to drive sustainable change across three interconnected pillars: Connected Planet: Use technology solutions that help protect, restore, and regenerate the natural world, conserving precious natural resources for future generations. Connected Economy: Use trusted technology to help organizations thrive and make their contributions to a sustainable and more resilient digital […]
Dubai First partners with Mastercard to launch the first personalized mobile banking experience in MEA
Mastercard’s experiential customer engagement platform is introduced for the first time in the region with Dubai First The unique program draws from Mastercard’s contextual marketing global capability, adding a gamification component where Dubai First customers can set cashback savings goals towards a future purchase and monitor progress The solution delivers personalized recommendations and allows customers […]
IMA Establishes Sustainable Business Management Global Task Force
The task force will speak about sustainability for the global management accounting profession This multi-stakeholder engagement initiative will work towards strengthening ESG frameworks and policies in the Middle East region Middle East, November 8, 2021 – IMA® (Institute of Management Accountants) announced today the establishment of a Sustainable Business Management Global Task Force (IMA.SBM.GTF) to speak on […]
More than half (51%) of employees in Saudi Arabia have reported an increased workload since switching to remote working
According to a recent Kaspersky survey of 4,303 IT workers, 51% of employees in Saudi Arabia have reported an increased workload since switching to remote working, with 18% describing the increase as significant. 35% did not notice a change in volume, and only 9% noted a decrease in the scope of work due to new working conditions. […]
LG’S GHG EMISSIONS REDUCTION TARGET VALIDATED BY CLIMATE EXPERT SBTi
Validation Confirms Soundness of LG’s Strategy to Use Science-based Targets to Achieve Goals Set by Paris Agreement Jeddah, Nov. 7, 2021 — LG Electronics (LG) announced that its strategy for cutting greenhouse gas (GHG) emissions in the entire manufacturing process from production to use by 2030 has been independently reviewed and validated by climate expert SBTi, making LG […]