Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
Finastra and Salt Edge collaborate to provide a more personalized banking experience
Combined offering provides instant PSD2 and global Open Banking compliance for an open, secure and personalized banking experience Dubai, UAE – August 23, 2021 – Finastra today announced its collaboration with Salt Edge to improve the speed of compliance with the Payments Service Directive 2 (PSD2) and other global Open Banking standards, for banks and Electronic Money Institutions (EMIs) […]
95% of Saudi Arabia Customers Are Digital Converts to E-Commerce
90% of Saudi Arabia Customers Will Choose an Alternative Site Due to Poor Online Experiences 89% of Saudi Arabia Customers Have Less Patience with Slow or Poorly Functioning Websites 55% of Saudi Brands Rank Mobile Apps or Websites as Priorities for Improving Experiences RIYADH, Kingdom of Saudi Arabia, 23 August 2021 – Sitecore® the global leader […]
Key conditions to support creation of $700 billion H2 economy, according to Arthur D. Little
The Middle East is witnessing green hydrogen projects being pursued in an industry projected to reach USD 700 billion by 2050 Arthur D. Little has found several areas requiring attention as countries and concerned parties drive their respective sustainability agendas Dubai, UAE – 23 August 2021: Green hydrogen (H2) has become a key agenda topic for […]
Saudi Arabia is becoming a gold mine for retailers
In 2017, the Kingdom of Saudi Arabia approved 100% ownership of retail and wholesale ventures by foreigners. The regional retail industry has since witnessed steady year-over-year growth across multiple metrics – barring the short-lived disruption due to the pandemic. Today, with accelerated post-pandemic reopening and upbeat sentiment among shoppers; retailers in the Kingdom are gearing […]
Maximize Your Restaurant’s Ordering Revenue Through AI-Driven Insight with FineDine
FineDine offers AI-driven dine-in, pickup, delivery and kiosk solutions designed to empower you to maximize your restaurant’s ordering revenue. Trusted by top brands regionally and globally, FineDine partners with Nusr-Et, Marriott Group, Armani Hotels, Godiva, Clap DIFC, Brunch & Cake, White (Addmind Hospitality Group), Sheraton, Sofitel and Yamanote Atelier in the UAE. Dubai, UAE (18 […]
Pandemic spurs banks’ AI adoption for AML, SAS study shows
Amid a COVID-driven surge in fraud and financial crime, more than half of financial institutions have either already deployed AI in their anti-money laundering compliance processes or plan to imminently Dubai, United Arab Emirates (August 18, 2021) – A third of financial institutions are accelerating their AI and machine learning (ML) adoption for anti-money laundering (AML) […]
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TPAY MOBILE Partners with Huawei to Unlock In-App Purchases for Over 60 Million Subscribers
TPAY MOBILE platform allows developers to monetize their apps on Huawei devices across twelve operators in seven countries Dubai, United Arab Emirates, 18 August 2021 – TPAY MOBILE FZ-LLC (TPAY MOBILE), a full-service digital payments platform, today announces the first phase of its strategic app monetization partnership with Huawei. The partnership is live across twelve mobile operators in seven […]
Lenovo delivers record first quarter, doubling net income as strategy continues to drive sustainable profitability increases and long-term growth
Kingdom of Saudi Arabia, August 17 – Lenovo Group (HKSE: 992) (ADR: LNVGY) announced record fiscal first-quarter results for the Group. Opportunities created by accelerated digitalization, intelligent transformation, and IT upgrades in devices, infrastructure, and applications around the world continue to fuel the Group’s long-term and sustainable profitability increases. Seizing these opportunities, Lenovo’s performance delivered significant year-on-year profitability improvements, with […]
Finastra secures SWIFT Compatible Application label for Trade Finance
Fusion Trade Innovation is recognized for supporting SWIFT SR2021 standards release ahead of changes to Category 7 type messages in November 2021 Dubai, UAE – August 17, 2021 – Finastra today announced that it is the first technology provider to secure the SWIFT Compatible Application label 2021 for Trade Finance. The achievement proves that Fusion Trade Innovation, Finastra’s […]
Mega back to school deals on noon plus value bundles from 77 SAR
Save money and time with incredible offers on top brands like Apple, HP, Adidas, and Nike, with fast delivery and easy returns Riyadh, KSA. 17th Aug 2021: noon.com, the Middle East’s leading digital marketplace and Saudi e-tailer, announces 5 to 80 percent off back-to-school buys plus value bundles from just 77 SAR, and incredible bank offers. Stocking […]
W7Worldwide Releases 7-Step Communications Guide to Transform the Oil & Gas Sector Post COVID-19
The collapse in demand due to Covid-19 restrictions on travel and the global decline in economic activity had a significant impact on the oil and gas industry. However, according to the Oil and Gas Global Market Report 2021: COVID 19 Impact and Recovery to 2030, the global oil and gas market is expected to grow from $4677.45 […]
SFM introduces companion app for registered business owners
Users now can enjoy secure and seamless access to their companies’ information through the new app 15 August 2021, Dubai, UAE: SFM Corporate Services has launched a secure, feature-rich, and user-friendly mobile companion app “SFM MY Company” for customers of its company registration services. It enables investors who have registered a new company through SFM to […]
“Tayebat” electronic platform launched at Unaizah Dates Season
Unaizah: Tayebat Electronic Platform has officially kicked off its operations in conjunction with the launch of the Unaizah Dates Season 2021 under the slogan (Entrepreneurship and Online Shopping). The platform offers marketplace for buying and sales services through an electronic auction or at a predetermined price in addition to quality management services for dates producers […]
Women entrepreneurs lead the way in digital presence, according to Mastercard SME research in Middle East and Africa
81% of women entrepreneurs across the Middle East and Africa have a digital business presence according to Mastercard MEA SME Confidence Index Latest research by Mastercard highlights high digitalization among women-owned businesses as opportunity for broader SME recovery and digital economy growth August 11, 2021, | Riyadh, KSA: Despite the gender gap and social challenges, entrepreneurial […]
Emplifi Reveals Global Ad Spend Up 50% on Facebook and Instagram in Q2
The continued growth in social media ad spends points to more than a simple “bounce back” from the pandemic, according to Emplifi. The unified CX platform’s data findings highlight how brands are increasing their investment in social platforms to improve customer experiences and drive social commerce. Dubai, UAE, August 2021 – Emplifi, the leading unified customer experience platform, […]
Backbase expands commitment to KSA with new center and appointment of new senior leadership
● Backbase’s new regional office opens at the Kingdom Centre, Hugayat Tower, Riyadh, Kingdom of Saudi Arabia ● Ahmad Guandour is the first new hire for the Backbase leadership team and joins as Director of Sales Middle East and is based in Riyadh. ● The announcements highlight Backbase’s commitment to KSA with the acceleration of investment that aims […]
Huawei climbs rankings on The Fortune Global 500 despite US government sanctions
The Fortune Global 500, the annual ranking of the top 500 enterprises worldwide as measured by business revenue, ranked Huawei 44 this year, up from 49 in the previous year, despite US government sanctions on the company. The number of Chinese companies, including those from the Hong Kong Special Administrative Region (SAR) and the island of […]
SADAFCO announces opening of new ice cream factory in Saudi Arabia
Jeddah, Kingdom of Saudi Arabia, 09 August 2021: As part of its ambitious expansion plans in the Kingdom of Saudi Arabia, Saudia Dairy and Foodstuff Company (SADAFCO) announced the opening of a new ice cream factory in Modon Industrial City No.1, Jeddah. The new ice cream factory, combined with the existing SADAFCO milk factory, covers an […]
Saudi Payments: POS transactions hit 227 billion riyals during H1 2021
Saudi Payments operates under the supervision of the Central Bank of Saudi Arabia (SAMA), revealed achieving more than 2.2 billion Point of Sale (POS) transactions, valued at over 227 billion riyals during H1 of 2021. According to results from the national payment scheme “mada”, near-field communication (NFC) payment transactions registered a record increase of 147% compared to H1 […]
Three Waves of Transforming Technology Costs
As companies deploy new technologies, including automation, AI, cloud hosting, service platforms, and others to make their businesses more digital and efficient, all businesses are becoming technology businesses. In a post-COVID environment, natural forces are accelerating this dynamic and the need to digitize and virtualize. This expansion from physical into digital means that many functions […]
EDGE Group to showcase acceleration of defence technology at Dubai Airshow 2021
Dubai Airshow announces EDGE Group as Defence Technology Partner Advisory Board member of Dubai Airshow 2021 – EDGE Group to support ‘Make it in the Emirates’ campaign during the event DUBAI, United Arab Emirates – 09 August 2021: EDGE Group, the UAE’s advanced technology group for defense and beyond, will have a major presence at […]
JADWA ANNOUNCES MULTI-MANAGER FUNDS PLATFORM
Riyadh – Saudi Arabia: 8 August 2021: Jadwa Investment, a leading investment management and advisory firm in the Middle East, announced today the full activation of its multi-manager funds platform. The new Shariah-compliant offering comes as part of Jadwa’s ongoing commitment to expanding its clients’ access to new asset classes. The first three funds—covering developed market […]