Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
Zamzam.com signs MoU with AlBirr Society in KSA
The agreement will see the online portal provide IT development services to the charitable association Riyadh, KSA, 19 April 2022: Zamzam.com, the online portal facilitating Umrah booking services in the region, announced the signing of a Memorandum of Understanding (MoU) with AlBirr Charitable Society in Makkah Al Mukarramah. The MoU aims to help develop the Information […]
Acer celebrates 30 years of success in the Middle East and Africa region
Dubai (April 18, 2022) – Multinational corporation Acer marks 30 years of success in the Middle East and Africa region in April 2022. Acer opened its offices in JAFZA, UAE, in 1992 as part of its first major transformation under ‘global brand, local touch’, with only 7 employees. Today, Acer has 3 offices with 31 employees […]
LG RELEASES PRELIMINARY EARNINGS FOR FIRST-QUARTER 2022
Jeddah, Apr. 17, 2022 — LG Electronics Inc. (LG) today announced its preliminary earnings results for the first quarter of 2022.LG reported revenues of KRW 21.1 trillion in the first quarter of 2022, 18.5 percent higher than the same quarter the previous year. Operating profit for the first quarter was KRW 1.9 trillion, 6.4 percent higher than the […]
Banque Misr in Egypt automates trade finance with Finastra
Banque Misr extends collaboration with Finastra, selecting Fusion Trade Innovation and Fusion Corporate Channels to boost its offering and attract new customers Dubai, UAE – April 13, 2022 – Finastra today announced that Banque Misr, the second largest national bank in Egypt with international presence, has selected Fusion Trade Innovation and Fusion Corporate Channels to digitalize its trade finance services and provide […]
Partnerships that bring complementary services and technology can enable the growth of super-apps in the region, says Economist Impact study
Telcos, ride-hailing companies and online marketplaces are all diversifying to become part of super-app industry, specifically in the Middle East and Africa The second in a two-part report series commissioned by Mastercard Eastern Europe, Middle East and Africa, the paper was developed by Economist Impact, the research and analysis arm of The Economist Group Study […]
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“Hello, it’s me”: Fakecalls’ Trojan imitates phone conversations with bank employees
The banking Trojan dubbed Fakecalls masquerades as a banking app and mimics the telephone customer support of the most popular South Korean banks. Unlike regular banking Trojans, it can discreetly intercept calls to real banks using their own connection. Under the guise of bank employees, the cybercriminals try to coax payment data or other confidential […]
Mobily Pay signs strategic partnership with Visa to offer customers in Saudi Arabia enhanced digital payment solutions
The partnership provides Mobily Pay cardholders access to Visa’s worldwide network and enables them to make their online and point-of-sale purchases more secure. Riyadh, 12 April 2022 – Mobily Pay, a subsidiary of Etihad Etisalat Company, Mobily, has announced a strategic partnership with digital payments leader, Visa, which opens up payment capabilities to consumers in […]
Visa calls innovative startups in Saudi Arabia
to enter local edition of global
Visa Everywhere InitiativeFintechs in KSA have until 21 April 2022 to enter competition to gain exposure and access to Visa’s network, as well as win prize money of 500,000 SAR and a spot at regional finals Riyadh, Kingdom of Saudi Arabia, 11 April , 2022: Visa, the world’s leader in digital payments, is calling fintech and payment […]
Lenovo Reveals “Lenovo 360” Global Channel Framework, Enables Greater Access to Solutions for Partners
As businesses continue to migrate toward an Everything-as-a-Service consumption model, “Lenovo 360” enables partners to grow their business through expanded access to end-to-end solutions and services. April 7, 2022 – Lenovo has announced the UAE launch of “Lenovo 360”, a new, first-of-its-kind global channel partner framework designed to provide easier access to the entire Lenovo […]
Huawei teams up with the Al-Hasoob Company
to support enterprises achieve their potential in Saudi Arabia Riyadh, Kingdom Of Saudi Arabia- 5 April 2022: Huawei Tech Investment Saudi Arabia has announced a new agreement with the Al-Hasoob Company to further strengthen small and medium businesses. Under the newly signed agreement, Huawei has now authorized Al-Hasoob to conduct sales activities on behalf of […]
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stc’s expansion strategy results in a $158 million acquisition deal
In continuation of its efforts to invest in technology Riyadh, April 4, 2022: In continuation of stc Group’s strategy of expansion and digital services, and after the success achieved in the IPO of solutions by stc, “solutions by stc” announced its intention to acquire Giza Systems Company, by signing solutions a binding offer with Energy […]
Dubai Future Foundation partners with Richemont to develop new solutions in the luxury retail sector
To provide opportunities for entrepreneurs and startups from around the world to share innovative ideas The challenges by Dubai Future Accelerators and Richemont encompass interactive product experience through immersive in-store activations, and data-driven personalization on interpreting insights to build customer relationships. The initiative is part of Future of Luxury Retail startup incubation program in Dubai […]
LG A BIG WINNER AT THIS YEAR’S RED DOT AWARD
Company Earns 25 Awards for Product Design Excellence, Including Three “Best of the Best” Accolades Jeddah, April. 3, 2022 — LG Electronics (LG) has taken home 25 honors from this year’s Red Dot Award, continuing its success in the prestigious annual design awards program. Among the company’s impressive haul were three Best of the Best […]
stc pay Celebrates the Start of Ramadan by Going A Step Further
To Stimulate The Ambition Of Individuals And Direct Them To Move Towards The Future Riyadh, Saudi Arabia – April 3, 2022: At every moment, we can see the digital transformation’s clear impact on the whole financial and digital payment sector across the world. This impact made a significant change in our lifestyle and banking behavior. […]
HISENSE OUTLINES AMBITIONS AND REGIONAL GROWTH PLANS AFTER RECEIVING PRESTIGIOUS ‘DUBAI QUALITY GLOBAL AWARD’
Dubai, UAE – 31st March 2022: Just days after Hisense received the Department of Economy and Tourism’s “Dubai Quality Global Award”, Jason Ou, President of Hisense Middle East and Africa, has outlined the global electronics and whitegoods manufacturer’s plans for the region. Under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice […]
Leading Saudi Fintech, Geidea, announces strategic expansion into UAE with Magnati partnership
Milestone moment in Geidea’s expansion across the Middle East and North Africa Geidea signs strategic partnership as a Payment Service Provider (PSP) with Magnati in the UAE Geidea will be a PSP partner for Magnati, and leverage its wide range of Payment as a platform API’s and value added services for merchants in UAE’s wider […]
e& partners with Meta to drive innovation as it accelerates its transformation to a techco
Leverage on Meta apps and services to enhance brand, performance and culture Abu Dhabi, 31 March 2022: As part of e&’s transformation drive to become a global technology conglomerate, the Group today announced a strategic partnership roadmap with Meta. The collaboration will enable e& to become a leading techco player driving innovation, enhancing organisational performance […]
Data scientists reveal roadblocks to digital transformation
SAS research also identifies strategies to capitalize on this pivotal moment and empower data scientists and organizations Dubai, United Arab Emirates (March 30, 2022) Digital transformation has accelerated significantly due to the COVID-19 pandemic, but the extra demands on data scientists have revealed significant barriers to effective working and high levels of job dissatisfaction in some areas. For example, […]
Saudi Arabia regains position as global leader in sukuk and Islamic finance issuance in 2021
Kingdom’s total sukuk and Islamic financing issuances reached approximately $32 billion to lead global league tables for first time since 2018 Green finance an increasingly prominent part of the sector in Saudi Arabia Saudi Arabia; 30 March 2022: The Kingdom of Saudi Arabia overtook Malaysia as the world’s biggest issuer of sukuk and Islamic […]
Karl Song: Huawei will continue supporting digital transformation across the Middle East
“We are strong supporters of the Middle East region’s green ambitions,” says the Huawei executive Huawei is investing in the future through expansive R&D; 22.4% of its total 2021 revenue was spent on R&D Middle East, March 30, 2022: During an exclusive Middle East roundtable to discuss Huawei’s 2021 annual results from a Middle East […]
Geidea Partners with Natcom to Provide SoftPos Solutions Across Saudi Arabia
Riyadh, 30 March 2022: Geidea, a leading fintech company in Saudi Arabia, today announced that it has partnered with National Computer Systems Company (NATCOM), a leading IT infrastructures & Software Businesses solution provider in the Kingdom. Under this agreement, Geidea will provide its SoftPos solution to NATCOM – empowering the company to transform everyday Handheld […]
‘C-Suite Executives in Saudi Need to Become More Digitally Aware and Invest, Innovate and Automate to Remain Future-Relevant’ – Nutanix
RIYADH, KSA, 30th March, 2022 – Nutanix (NASDAQ: NTNX), a leader in hybrid multicloud computing, today announced the findings of the recently commissioned IDC CXO Survey, outlining that while companies are building better digital habits and systems, a shift is needed from digital culture to value realisation. Surveying leaders across Europe, Middle East & Africa […]