Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
UAE Space Agency Board members review latest developments and strategic projects in the sector
· Sarah Al Amiri applauds election of the UAE to chair the United Nations Committee on the Peaceful Uses of Outer Space (COPUOS) · Board reviews projects of Space Economy Zones Program, international cooperation, and developing national capabilities Abu Dhabi, UAE – 20 May 2022: The UAE Space Agency (UAESA) Board members chaired by Her Excellency Sarah bint Yousef […]
With a smile or a wave, paying in store just got personal
Mastercard unleashes a new era of biometric payments to enhance the check-out experience Riyadh, Saudi Arabia: 18 May 2022 – No more fumbling for your phone or hunting for your wallet when you have your hands full – the next generation of in-person payments will only need a quick smile or wave of your hand. The […]
Finastra names Hack to the Future 4 winners #HackToTheFuture #HackingForGood #OpenByDefault
Celebrated projects include initiatives promoting financial literacy, solar energy and fair lending Dubai, UAE – May 10, 2022 – Finastra today announced the winners of its Hack to the Future 4 annual global hackathon. Thousands of participants from over 75 countries submitted 230+ projects focused on sustainable and inclusive finance, embedded finance and Banking as a Service (BaaS), […]
Wisdom for a Better Life Technology Paving the Way to a Better Life for All
Today, technology plays a pivotal role in the way people work, play, learn and live. To ensure that everyone, regardless of age, disability or lifestyle, can reap the benefits of the latest advancements, leading tech companies are developing new solutions to make their sophisticated products more accessible. Here’s a closer look into how inclusive technology is paving […]
SAS Viya on Microsoft Azure can deliver 204% return on investment according to independent study
Forrester Total Economic Impact™ study highlights faster time to market, improved decisioning and cost savings brought by SAS and Microsoft partnership Dubai, UAE, 11 May 2022: Organizations deploying SAS® Viya®, SAS’ cloud-native AI, analytic, and data management platform, on Microsoft Azure can see benefits including a 204% return on investment over three years, according to a new commissioned […]
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Almarai Sustainability Report: Decrease in Total Water Consumption by 7%
Almarai Company’s 2021 performance sustainability report revealed a 7% decrease in total water consumption compared to the previous year. The annual report stated that Almarai is well aware that proper supervision of water consumption is critical to ensuring the long-term sustainability of the business, stressing that Almarai takes care of water resources more efficiently every […]
LG ANNOUNCES FIRST-QUARTER 2022 FINANCIAL RESULTS
Highest Quarterly Revenue in Company’s History Reflect Strong Demand for Premium LG Home Appliances and Auto Parts Jeddah, April 29, 2022 — LG Electronics Inc. (LG) today announced first-quarter 2022 consolidated sales of KRW 21.11 trillion (USD 17.53 billion) – the highest quarterly revenue in company history. Operating profit of KRW 1.88 trillion (USD 1.56 billion) was positively impacted by […]
stc pay enables the “Eidiya” feature again, and launches the “Catching Eidiya Game”
stc pay is preparing to revive the “Eidiya” feature during Eid, through which customers will be able to share the joy of Eid and send Eidiya to their relatives and friends through the application, in an interactive and innovative way, by taking advantage of digital transformation services. In addition, stc pay has launched “Catching Eidiya […]
GoDaddy Shares Tips for How to Prepare your Business Before Eid Al Fitr 2022
With the Holy month of Ramadan slowly fading away into the beginning of the festivities of Eid Al Fitr, families and individuals alike are getting ready to celebrate the occasion with loved ones. A big part of Eid celebrations includes giving and receiving gifts. As such, people start to plan their gift giving and usually […]
stc pay launches the “Catching Eidiya Game” and allows its customers to send “Eidiya” to spread the joy of Eid
Riyadh, Saudi Arabia; 27 April 2022. stc pay — the region’s leading digital wallet — is enabling customers across Saudi Arabia and the wider Middle East to send their eidiyas (cash gifts) electronically. As part of its mission to create an inclusive digital economy and pioneer online banking services that transform lives, stc pay has developed […]
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WebEngage success story: Saudi-headquartered retail brand eXtra clocks 33% increase in purchases, driven by localized user engagement campaigns
The current pace of digitalization can be deemed either disruption or transformation, depending on how you perceive it. This notion holds true even for market leaders and industry incumbents, as evident from one of WebEngage’s notable success stories involving eXtra. A leading retail brand with a long-standing pedigree in consumer electronics and home appliances, Saudi-based […]
Emirates Mars Mission Discovers New Mysterious Martian Aurora
Observations of a stunning new type of Martian aurora by EMM’s Hope probe open up new areas for investigating Mars highly dynamic plasma environment Dubai-UAE: 27 April 2022 – The Emirates Mars Mission, the first interplanetary exploration undertaken by an Arab nation, today released stunning new images of Mars’ enigmatic discrete auroras, following a new series […]
ECONOMIC MISSION TO QATAR STRENGTHEN MALAYSIA AGRICOMMODITY
Minister of Plantation Industries and Commodities Malaysia, YB Datuk Hajah Zuraida Kamaruddin,has concluded her Economic and Agricommodities Promotion Mission Qatar from 19 April 2022 to 20th April 2022. During the mission, she has taken the opportunity to meet up with her counterpart;chaired the Roundtable Meeting with Qatari Agricommodities Players, meeting up with the LocalInvestment Authorities, Academicians, and the Local Women Entrepreneurs and Diaspora. Among the Ministers and foreign dignitaries who met up with YB Datuk, Zuraida Kamaruddin are H.E. Dr. Abdullah Bin Abdulazizi Bin Turky Al Subaie- Ministry of Municipality, State of Qatar; H.E. Sheikh Mohammed bin Hamad […]
KSA’s Rawabi Holding expands into real estate,
establishes Magnom Properties· Newly established business to be a part of the Rawabi Holding’s real estate vertical· Magnom Properties will oversee the construction of high-value commercial, residential and lifestyle projects in KSA, Egypt and the wider MENA region· World-renowned architects Adrian Smith and Gordon Gill representing AS+GG Architecture will be driving prestigious projects for the business in […]
OMNES Influencers announces it is opening the door to new strategic partnerships to represent it in regional and international markets
To strengthen its network of influencers and provide the best services to a wider segment of customers Dubai, 21 April, 2022. OMNES Influencers, a joint venture between OMNES Media and Shams Media Services LLC (A Sharjah Media City subsidiary), announced that its opening the door for strategic partnerships to represent its business in regional and global […]
Yalla Group wins two awards at the highly coveted The Global Economics Awards 2022
Yalla Group President Saifi Ismail named Best Emerging Leader in Digital Entertainment Sector Yalla app wins Most Innovative Voice-Centric Social Networking App by The Global Economics Awards 2022 UAE, April 20, 2022: With its innovation efforts and advanced capabilities paying off, Yalla Group Limited (“Yalla” or the “Company”) (NYSE: YALA), the leading voice-centric social networking and entertainment […]
Mastercard expands the Priceless Planet Coalition’s forest restoration effort
Five sites in Mastercard’s Eastern Europe, Middle East and Africa region among 15 new projects across six continents Progress is accelerating toward goal of 100 million trees, as consumer support for environmental causes grows Riyadh, Saudi Arabia; 20 April 2022: Mastercard is expanding the reforestation work of the Priceless Planet Coalition to include 15 new restoration projects, for […]
Finastra teams up with EcoTree to provide a green offering for banks on the journey to net-zero emissions
Dubai, UAE – April 20, 2022 – Finastra today announced that it has teamed up with EcoTree, a specialized forestry company focused on carbon removal and biodiversity preservation through tree planting and sustainable forestry management. The initiative provides Finastra customers the opportunity to remove the carbon footprint associated with both the running and implementation of technological solutions, […]
Amazon Payment Services Appoints Mona Alsemayen as the Country Head for Strategy and Growth in Saudi Arabia
Amazon Payment Services, a payment service provider operating across the Middle East and North Africa (MENA) region, has announced the appointment of Mona Alsemayen as the Country Head, Strategy and Growth for Amazon Payment Services in Saudi Arabia. Peter George, Managing Director of Amazon Payment Services, commented: “We are excited to welcome Mona into our team. In […]
Saudi Arabia Shows Strong Intent to Drive a Cloud-First, Cloud-Smart, and Multicloud Strategy
Riyadh, Saudi Arabia – 20th April 2022 – Nutanix (NASDAQ: NTNX), a leader in hybrid multi-cloud computing, announced the Saudi-specific findings of its fourth global Enterprise Cloud Index (ECI) survey and research report, which measures enterprise progress with cloud adoption. It is apparent that the adoption of cloud services in Saudi Arabia is growing, driven by national efforts such as the […]
Progressive government policies, collaboration, boosting Saudi’s digital economy
Saudi Arabia’s rapid digital transformation has put Vision 2030 goals within reach. Efforts to modernize the Kingdom’s economy and diversify the pillars of economic growth are bearing fruit, driven by steadfast government support. A digital economy relies on an advanced ICT infrastructure, and this is where government support has been particularly invaluable. Direct investment in […]
Zain KSA’s Profits Surge by 98% in Q1 2022
Zain KSA has disclosed its financial results for Q1 2022 in which the company recorded a consistent upsurge in its financial performance, highlighting the positive results of its increased profitability that has grown exponentially over the last five years. In Q1 2022, Zain KSA achieved a 98% increase in profits recording SAR 81 million, compared […]