Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
New Executive Report from IDC Examines the Progress Being Made in Saudi Arabia’s Digital Transformation Journey
Digital technologies are playing an increasingly major role in enabling the Vision Realization Programs (VRPs) that are helping to make Saudi Arabia’s Vision 2030 a reality. From national-level data management platforms to human capital development portals, digital transformation is continuously disrupting industries across the Kingdom’s public and private sectors. ICT decision-makers are developing and implementing […]
Huawei Shares How to Tackle Climate Change with Technology Innovation at COP26
Middle East, November 4, 2021: Dr. Fang Liangzhou, Vice President and CMO of Huawei Digital Power, recently spoke at COP26. At the session “System Change and Climate Innovation in the Technology Industry” hosted by the UNFCCC Global Innovation Hub, Fang virtually delivered a keynote address on “Building a Low-Carbon Smart Society.” Fang described how Huawei […]
Overall Revenue of Payments in Saudi Arabia Expected to Increase to USD 23.7 Billion by 2030
New BCG Report Reveals National Payment Revenues in Saudi Arabia is forecasted to grow by 132% between 2020 to 2030 Riyadh, November 3, 2021 — As purchasing habits shifted almost overnight from offline to online and cash to noncash following COVID-19, the payments industry subsequently suffered an impact far less severe than initially anticipated, according to […]
BUSINESS LEADERS TO GATHER AT THE GLOBAL MANUFACTURING AND INDUSTRIALISATION SUMMIT TO SHAPE THE FUTURE OF MANUFACTURING, DIGITALISATION AND SUPPLY CHAIN OPERATIONS
CEOs and senior leaders from GE Digital, Thales, General Motors, SAP, Lockheed Martin, Hewlett Packard, Huawei Technologies, Unilever, Microsoft, Ericsson, Sberbank, Skolkovo Foundation, Nokia, and more set to outline future manufacturing and technology trends Joining from the United Arab Emirates are senior industry leaders from Mubadala, ADNOC, Abu Dhabi Department of Economic Development, Dubai Economy, Bank […]
Arthur D. Little and Match-Maker Ventures ‘Corp-Up Middle East’ webinar report uncovers the true merits of bringing corporates and scale-ups together
The Middle East startup ecosystem has recently been bolstered with sizable investments, exceeding USD 1 billion in 2020 alone Newly released report follows recent ‘Corp-Up Middle East’ webinar and elaborates on key takeaways Mature startups or scale-ups and corporations from all industries can advance their innovation mandates in a mutually beneficial manner through the collective […]
Wa’ed approves SAR 5 million loan to finance Amad Chemicals Company, the Saudi-based manufacturer of ‘green’ marine chemical cleaners
3 November, 2021 — Wa’ed, the entrepreneurship arm of Aramco, has approved to grant a SAR 5 million loan to the Jubail-based Amad Chemicals Company, one of the leading Saudi-based manufacturers of environmentally low-impact chemicals and coatings for the maritime industry. The loan will help finance Amad’s new facility for the production of chemicals and coatings that […]
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Almarai initiatives and achievements in protecting the environment
Almarai’s sustainability report of 2020 has revealed the initiatives and achievements of the company in the environment protection field until 2020, and the goals aimed to be achieved by 2025 in various sectors such as water, climate change, innovation, packaging, waste, and sustainable agriculture. The annual report stated that Almarai managed to increase the water […]
Schneider Electric and ELECTROMIN to drive the transformation of Electric Mobility adoption in the Kingdom of Saudi Arabia
Schneider Electric and ELECTROMIN will look to promote and expand the scope for Electric Vehicle Charging Stations nationwide Riyadh, Saudi Arabia, Schneider Electric, and ELECTROMIN have partnered together to drive growth for a range of technologies in the Kingdom’s electric vehicle (EV) sector. The agreement aims to accelerate the realization of sustainable and zero-emission mobility in […]
Noon announces craziest month of the year with huge 11.11 and biggest ever Yellow Friday Sale
10 to 80% off, insane price crashes, daily flash sales, and much more Riyadh, KSA. November 2nd 2021: noon.com, the region’s homegrown digital marketplace, announces its crazy November lineup packed with amazing 11.11 sale offers and culminating in what’s set to be the biggest ever Yellow Friday Sale, live from 22nd November until midnight on 28th […]
An increase in millennial real estate investors underscores the importance of embracing new technology, says property expert
CEO of award-winning Devmark Group urges property professionals to capitalise on innovative technology as more tech-savvy millennial investors enter the UAE real estate market Dubai, United Arab Emirates, 2 November 2021: Real estate industry expert Sean McCauley, co-founder and CEO of the Dubai-based Devmark Group, has highlighted the importance of embracing technology in the real estate market as research […]
Safety and Operational Excellence are the Bedrock of Luberef’s Global Success
Zero total recordable incidents in Luberef Yanbu and Luberef Jeddah refineries. Luberef was honored with two awards in Saudi Aramco 2021 President’s Affiliates Excellence Awards. Saudi Aramco Base Oil Company – Luberef has continued its multi-year achievements of zero lost-time incidents (LTI) and a zero total recordable incident rate (TRIR). In total, Luberef Jeddah has […]
IHG® partners with The Red Sea Development Company to open InterContinental Resort Red Sea
The latest signing is aligned with IHG’s strategy to grow its presence in the Kingdom, in line with Saudi Vision 2030 31 October 2021: IHG® Hotels & Resorts, one of the world’s leading hotel companies, has announced the signing of a Management Agreement with The Red Sea Development Company (TRSDC), an affiliate of Saudi Arabia’s Public Investment Fund (PIF) to open the InterContinental Resort Red Sea […]
Huawei Releases Business Results for First Three Quarters of 2021
Middle East, October 31, 2021: Huawei released its business results for the first three quarters of 2021. During this period, Huawei generated USD70.44 billion in revenue, and its net profit margin was 10.2%[1]. “Overall performance was in line with forecast,” said Guo Ping, Huawei’s Rotating Chairman. “While our B2C business has been significantly impacted, our B2B […]
Radisson Hotel Group shows remarkable growth in 2021 marked by 70 signings and openings in key markets in EMEA
Radisson Hotel Group, one of the world’s leading hotel groups, looks back on a successful Q3 2021 with key expansions across the Group’s EMEA portfolio, reaching over 50 hotel signings and nearly 30 openings in EMEA YTD. Radisson Hotel Group is continuing its road to recovery and ambitious pursuit of its five-year expansion and transformation plan. The […]
LG ANNOUNCES THIRD-QUARTER 2021 FINANCIAL RESULTS
Highest Quarterly Revenues in Company History Reflect Strong Demand for Premium LG Home Appliances and TVs Jeddah, Oct. 28, 2021 — LG Electronics Inc. (LG) today announced third-quarter 2021 consolidated revenues of KRW 18.79 trillion (USD 16.23 billion), an increase of 22 percent from the same quarter last year and the highest quarterly revenue in the history […]
TAWAL contributes to the Saudi Arabia’s afforestation campaign “Let’s Make It Green” as part of its sustainability strategy
In conjunction with the launch of the inaugural edition of the annual forum of the “Saudi Green Initiative” Riyadh, KSA October 27, 2021 – TAWAL, the leading Saudi ICT Infrastructure Company, announced its initiative to plant 3,000 trees in cooperation with the National Center for Vegetation Cover and Combating Desertification, Vegetation Development Corporation “Murouj”, and through […]
IDC Announces GBM as Strategic Partner for 15th Edition of Its Annual Middle East CIO Summit
Dubai, October 26, 2021 – As preparations get underway for the IDC Middle East CIO Summit 2022, International Data Corporation (IDC) is delighted to announce that Gulf Business Machines (GBM) has been appointed as the event’s Strategic Partner. The IDC Middle East CIO Summit is one of the most anticipated tech events in the region, and next year’s […]
Agtech Pioneer Pure Harvest Smart Farms Secures USD 64.5 million in Growth Capital to Expand in MENASA
● Convertible funding round led by Korea’s leading private investment firm IMM Investment, together with existing investors & insiders ● Brings cumulative capital invested to USD 271.6 million, the MENASA region’s largest Agtech investment ● Accompanies announcement of new joint venture partnership with PlanTFarm, Korea’s leading vertical farming solutions provider Riyadh, KSA: 27 October 2021: Pure […]
ADIPEC 2021 to Host Groundbreaking Smart Manufacturing Conference
Supported by the UAE’s Ministry of Industry and Advanced Technology, the conference will bridge the gap between energy, manufacturing and high-tech sectors to accelerate economic development and diversification Latest addition to world’s most influential energy event will help set the agenda for next successful phase of growth in the energy and manufacturing industries in the […]
Tweeq selects IDEMIA technology for payment cards to customers across Saudi Arabia
Tweeq, a Saudi fintech, has chosen IDEMIA, a leader in Augmented Identity, for card issuance and personalization services. In a recent statement, Tweeq stated that its payment cards will be personalized right here in its Riyadh personalization facility. This also marks IDEMIA’s commitment to localize global technology to the Kingdom’s needs, which utilizes IDEMIA’s industry-renowned […]
Samsung Electronics kicks off ‘Samsung Week’ with exceptional offers and discounts
[Riyadh – Saudi Arabia, 26 October 2021] – Samsung Electronics has announced the kick-off of ‘Samsung Week’, the largest global brand promotion event, in celebration of the company’s 52nd anniversary and its innovation over the years. The event which takes place from 25 October – 1 November 2021, entails exceptional offers and discounts dedicated to Samsung’s discerning […]
Collinson Appoints Stephen Gilbert as EMEA Loyalty Solutions Director
Gilbert brings more than 25 years of B2B and B2C CRM and loyalty experience to Collinson, including two years at Salesforce New appointment marks an exciting time for Collinson’s loyalty business unit, as it forges partnership with Salesforce to offer Salesforce Loyalty Management alongside Collinson propositions Dubai, UAE- 26 October, 2021: Collinson has today announced the […]