Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
Fine Hygienic Holding’s installation of industry leading Gambini line takes its products to the next level and tops US$ 136 million investments in the UAE
Cutting-edge machine increases efficiency of paper products and gives customers more value for money (Dubai, UAE – 14 October, 2021) — Fine Hygienic Holding (FHH), one of the world’s leading wellness groups and manufacturer of hygienic paper products, has reaffirmed its commitment to consumers in the region with the installation of the cutting-edge Gambini line at its Abu Dhabi production […]
Dubai-based tech start-up TERRACEZ to empower data-led enhancement of customer experience for enterprises across the region
A home-grown UAE tech start-up, TERRACEZ, is set to transform the customer experience and business transformation space with their customised audit-identify-digitalise approach, to help enterprises automate and unify data collection and analysis across omnichannel touchpoints, and empower a superior customer experience. October 13th, KSA – Riyadh : TERRACEZ, a dynamic, progressive, and aggressively growing Dubai-based tech start-up, is […]
LG RELEASES PRELIMINARY EARNINGS FOR THIRD-QUARTER 2021
Jeddah, Oct. 12, 2021 — LG Electronics Inc. (LG) today announced its preliminary earnings results for the third quarter of 2021. LG reported tentative consolidated revenues of KRW 18.8 trillion, an increase of 22 percent from the same quarter the previous year and the highest quarterly revenue in the company’s history. In line with current accounting standards, LG will […]
Almarai participates in “Anuga 2021” exhibition in Germany
Almarai participated in Saudi Arabia’s pavilion in “Anuga Expo 2021” held in Cologne in Germany from 9 to 13 October. The participation came as part of “Made in Saudi Arabia” program with 21 other Saudi companies from the food sector. “Almarai’s participation comes from our role as one of the largest food and beverage companies […]
Wa’ed announces a venture capital investment in Saudi-based industrial software company Fathom Solutions
12 October, 2021 — Wa’ed, the entrepreneurship arm of Saudi Aramco, has announced an undisclosed amount of venture capital investment in Fathom Solutions, a global software company driving digital business agility and operational data efficiency in various industrial sectors. The Saudi-based firm, established in 2019 by Ibrahim Al-Baloud, began in the oil and gas industry but has […]
REDTAG announces winners of raffle draw worth half a million Riyals
The Middle East’s leading value fashion and homeware brand, REDTAG, has announced 5,000 lucky winners of its Happiness Card raffle draw, reinforcing its reputation as a brand that excels in delighting shoppers with customer-centric campaigns. October 12th , Jeddah, KSA: REDTAG, the region’s favourite value fashion and homeware brand, has announced the names of 5,000 lucky winners […]
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Jadwa REIT Saudi Fund’s Capital Increase Offering 714% Oversubscribed
Riyadh, [12] October 2021: Jadwa Investment, the leading investment management and advisory firm in the Middle East, announced today that it has successfully completed the capital increase offering of Jadwa REIT Saudi Fund. Through this offering, Jadwa is increasing the fund’s total asset value across both in-kind and cash subscriptions by SAR 370 million, or 16.9%, to nearly SAR […]
GoDaddy Partners with Arab Fashion Council to Empower Young Creative Entrepreneurs in Saudi Arabia and MENA
Partnership Coincides with Arab Fashion Week – Women’s, as part of ‘Cat Walk The Walk’ Campaign Jeddah: GoDaddy Inc, (NYSE: GDDY), the company that empowers everyday entrepreneurs around the world, announced today its partnership with Arab Fashion Council (AFC) to empower and inspire designers, makers and all creatives in the Kingdom and MENA region to take […]
Mastercard and Female Fusion collaborate to empower women entrepreneurs at Expo 2020 Dubai
Knowledge-sharing, networking and mentoring events to be held at Expo 2020 Dubai’s Women’s Pavilion October 10 2021, | Riyadh, KSA – Mastercard, the Official Payment Technology Partner of Expo 2020 Dubai, has teamed up with the region’s largest network for women-owned businesses, Female Fusion, to unlock opportunities for women entrepreneurs at the world’s largest cultural gathering. The […]
Siemens Energy inaugurates region’s first one-stop-shop for the energy industry in Dammam, Saudi Arabia
The facility localizes the energy value chain in Saudi Arabia, under one roof The expansion enables Siemens Energy (SE) to increase local content and personnel The facility is now the largest of its kind in the Middle East and Africa Siemens Energy completed the expansion of its hub in Dammam, increasing its local capabilitiesin the energy industry, in line with the Kingdom’s Vision 2030. The facility, which now coverssignificant parts of the energy value chain, is the largest of its kind in the region and is ready tosupport neighboring countries. His Royal Highness Prince Abdulaziz bin Salman bin Abdulaziz Al Saud patronized the inauguration ceremony on Wednesday. “We’re […]
Global Processing Services Continues International Expansion with Launch of MENA Headquarters
The award-winning global payments processor sets up regional hub to promote its innovative offering throughout MENA, led by ex-Majid Al Futtaim payments expert, Arnav Rath, as Head of Region DUBAI, United Arab Emirates–(BUSINESS WIRE/AETOSWire)– Global Processing Services (GPS), the Paytech Pioneer™ behind some of the world’s biggest fintech challengers, today announces that it has officially launched its […]
Wa’ed expands financial support to over SAR 21 million after Jeddah event, announces VC investment in Saudi-based Fathom Solutions
October 7, 2021 – Wa’ed, the entrepreneurship arm of Aramco, has dedicated more than SAR 21 million in total financial support to Saudi-based startups after concluding its third national roadshow stop in Jeddah. The event follows two previously successful stops held in Al Jubail and Yanbu Industrial cities, where Wa’ed pledged a number of loans and […]
Mastercard welcomes NymCard as its newest Network Enablement Partner
Riyadh, KSA – 04, September 2021 – Mastercard has welcomed the banking-as-a-service (BaaS) provider and modern card issuing platform, NymCard, as the newest company to join its Network Enablement Partner program, providing it with the ability to deliver Issuances in record time. As a Network Enablement Partner, NymCard gets a direct connectivity with Mastercard, providing it with […]
Actual savings achieved by GCC states estimated at USD182.87 million in 2020
The GCC Pavilion in Expo Dubai hosts the first event by GCC Interconnection Authority (GCCIA) “Climate Change and Energy Security Forum” Forum aims to examine challenges confronting the energy industry and measures to combat the issues Dubai, 4th Oct 2021: Gulf Cooperation Council Interconnection Authority (GCCIA), a joint stock company comprising of the six Arab Gulf counties, conducted […]
Amazon Payment Services Speaks on Payment Innovation at Seamless Middle East
Dubai, United Arab Emirates, 30th September 2021 – Amazon Payment Services delivered a presentation at Seamless Middle East 2021 to discuss why “Customer Obsession Is Key to Reimagining Digital Payments.” The presentation marked a successful first year at Seamless Middle East for Amazon Payment Services, which also won the Seamless Award for ‘Best Payments Experience’ at the event. […]
Join Tetra Pak’s Sustainability Journey at Expo 2020
Tetra Pak is ready for Expo 2020 in Dubai, one of the world’s largest events which will open its doors to visitors on October 1, 2021. Jeddah, Saudi Arabia – 29, September 2021: Tetra Pak is an official partner to the Sweden Pavilion at Expo 2020 in Dubai which will open its doors on Friday, October […]
ACWA Power launches the second edition of its innovative incubation competition “The Power is Within You”
Riyadh, KSA, 28 September 2021: Following the commendable success of the youth-driven initiative, ACWA Power, a leading developer, investor and operator of power generation and desalinated water plants, launched the second edition of “The Power is Within You” on the 91st Saudi National Day. The nation-wide initiative aims to empower youth in the Kingdom to ideate, develop […]
SEA Expo 2021 Closes with Record Attendance As Industry Gets Back on Track
[Riyadh, Saudi Arabia, Sep 27] – One of KSA’s leading trade shows for the country’s burgeoning entertainment industry, Saudi Entertainment and Amusement (SEA) Expo and Summit, concluded its three-day run at the Riyadh Front Exhibition and Conference Center on Tuesday, 9th September. Co-located with The Hotel Show Saudi Arabia and INDEX Saudi, the trio of entertainment, hospitality and interior design events saw […]
GoDaddy Regional Entrepreneurial Training Program Exceeds Target for Participation
Jointly held with Startups Without Borders, Training Program Coached over 500 Participants across the Middle East on starting a business online JEDDAH – GoDaddy Inc (NYSE: GDDY), the company that empowers everyday entrepreneurs around the world, announced today the completion of its ‘Start and Grow Online with GoDaddy’ training program with over 500 entrepreneurs and small […]
SADAFCO celebrates 91 years of KSA’s Unity and Harmony
Jeddah, Saudi Arabia: 26 September 2021- On the occasion of the 91st Saudi National Day, Saudia Dairy and Foodstuff Company (SADAFCO) congratulated the leadership of the Kingdom of Saudi Arabia and all who call KSA home. “We were thrilled to commemorate the 91st Saudi National Day together with our employees, partners and loyal customers. Saudi Arabia is […]
Jadwa Investment Announces Secondary Offering for Saudi REIT Fund
Riyadh, 26 September 2021: Jadwa Investment, a leading investment management and investment advisory in the Middle East and the largest manager of REITs in Saudi Arabia, has started today the secondary offering of its Jadwa REIT Saudi Fund. The proceeds from the secondary capital raise will be used mainly to acquire The Boulevard Riyadh, a luxury retail […]
mobile financial services use more than triples in six years
70 percent of consumers in Sub-Saharan Africa believe that faster transactions would encourage them to use mobile money services more in the future Ericsson’s mobile financial solutions make financial transaction management as easy as sending a text – conveniently bringing banking to billions worldwide Covid-19 pandemic has accelerated the use of mobile financial services. About […]