Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
Saudi Ministry of Human Resources and Social Development and Jadwa Investment launch funds to develop non-profit sector
Riyadh, 6 March 2022: The Saudi Ministry of Human Resources and Social Development and Jadwa Investment, a leading investment management and advisory firm in Saudi Arabia and the wider region, jointly announced the establishment of two investment funds to further develop the non-profit sector at a launch event hosted by the Ministry in Riyadh last […]
Saudi Arabia’s World Defense Show kicks off first edition with nearly 600 exhibitors from over 40 countries
• Biennial show to accelerate future industry trends, showcasing latest tech developments• Expected 30,000 visitors visiting stands and pavilions featuring hundreds of local and global firmsRiyadh, 5th March 2022 – Under the patronage of Custodian of the two Holy Mosques King Salman bin Abdulaziz Al Saud, Saudi Arabia’s World Defense Show will open its first-ever […]
Huawei powers the digital economy with the launch of new intelligent solutions for enterprises and telcos
[March 3, 2022] At MWC Barcelona 2022, Huawei announced the launch of new intelligent solutions to empower enterprises and telcos, power the digital economy, and accelerate digital transformation across various industries. On the enterprise front, Huawei showcased a variety of solutions including: All-new upgrades to its Intelligent Cloud-Network Solution. This includes upgrades in three major […]
stc pay Explored the Progression of Future Connectivity at MWC Barcelona 2022 #MWC22
RIYADH, March 2, 2022 – stc pay, MENA’s most prominent digital wallet and a leading regional operator in fintech providing innovative and secure digital financial services, participated at this year’s Mobile World Conference Barcelona which took place recently. MWC is the most influential annual event for the connectivity industry and brings together world-leading companies to […]
Samsung and the United Nations Development Programme Invite Six New Young Leaders to Their Global Goals Initiative
Generation17 now supports 14 young inspirational changemakers taking action for the 17 Global Goals Nora Altwaijri from Saudi Arabia is one of these 14 changemakers. She is a software engineer educating people on the Global Goals and connecting them to impactful resources through digital platforms Riyadh, Kingdom of Saudi Arabia, March 02, 2022 – Samsung […]
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Huawei seeks to ‘Light up the Future’ at #MWC22
Rotating Chairman Guo Ping speaks on the company’s plan to continue its globalization strategy and increase its strategic investment into foundational technologies [March 1, 2022] At this year’s MWC Barcelona, Huawei is meeting with global operators, industry partners, and thought leaders for discussions on topics including 5G business success, green technology, IT growth, and the […]
Noon.com opens the largest Customer Fulfillment Center in Saudi Arabia
noon.com expands its operations and logistics services in the Kingdom of Saudi Arabia Riyadh, KSA. 1st March 2022: noon.com, the Middle East’s leading digital e-commerce platform, has opened its largest warehouse space in Riyadh, Saudi Arabia, as part of its ongoing expansion of the logistics and fulfillment network in the Kingdom. The new Customer Fulfillment […]
Start-up company CommerceUp debuts in MENA region to provide end-to-end e-commerce technology solution
Company’s entry to regional market comes amid growing e-commerce sector MENA’s e-commerce market volume in 2020 reached USD 41.5 billion, says report Unified technology solution to bring down business costs while supporting three pillars of e-commerce Dubai, UAE, March 01, 2022: CommerceUp, a start-up service provider of cloud-based e-commerce platform, has officially debuted in the […]
Almarai receives the highest rating from the SFDA for its adherence to food safety requirements
Almarai’s manufacturing facilities obtained the highest rating (A+) from the Food and Drug Authority as part of an “evaluation program” for evaluating food establishments in the Kingdom. The facilities that obtained the ratings were Almarai Factories in Al-Kharj, Western Bakeries Factory Al-Kharj Branch, and Almarai Baby Food Factory. Almarai factories obtained the highest ratings according […]
Electric Vehicle Manufacturer Lucid Group Gearing Up for First International Plant in Saudi Arabia After Signing Agreements with Multiple Agencies
Lucid announces long-term plan to bring advanced automotive manufacturing to Saudi Arabia to address global demand. Lucid estimates that the location of Lucid’s first international manufacturing plant in Saudi Arabia may result in up to $3.4 billion of value to Lucid over 15 years. New international manufacturing plant targets 150,000 vehicles per year at the King Abdullah Economic City […]
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EDGE to Showcase Region’s Leading Advanced Technology Solutions at World Defense Show #WDS2022
Seven EDGE Group entities will exhibit products at the inaugural event Presence at WDS reinforces Group’s global position and signals commitment to KSA market Abu Dhabi, UAE: 28 February, 2022 – EDGE Group is proud to announce its participation in the inaugural World Defense Show, being held in Riyadh, the capital of the Kingdom of […]
Huawei’s Ryan Ding: GUIDE to a Better Digital Economy #MWC22
[February 28, 2022] At the Huawei Day 0 Forum held the day before Mobile World Congress 2022, Ryan Ding, Huawei’s Executive Director and President of the Carrier Business Group, said that operators can work on connection density, computing diversity, and carbon reduction intensity, and called on operators to join Huawei in its GUIDE business blueprint […]
LG ADVANCES RIYADH MANUFACTURING FACILITY TO PRIORITIZE AIR SOLUTION PRODUCTION
LG build its Variable Refrigerant Flow (VRF) systems in Saudi for the first time JADDEH, 27 FEB – LG Electronics (LG) continues to prioritize its investment in Saudi Arabia with the recent upgrades to its Riyadh facility. In partnership with Al Hassan Ghazi Ibrahim Shaker Co. (Shaker), Saudi Arabia’s leading importer, manufacturer and distributor of […]
Nutanix’s Launch of New Product Portfolio to Ease Path to Hybrid Multicloud for Saudi Organizations
Nutanix Cloud Platform Delivers Complete Solution to Run Any Application in Any Cloud RIYADH, KSA, 27th February, 2022 – Nutanix, a leader in hybrid multicloud computing, announced today the global availability of their simplified product portfolio to align with rapidly evolving customer requirements. The Nutanix Cloud Platform delivers a consistent operating model across all types […]
Amazon Payment Services Announces New Program to Accelerate Online Business Growth for MENA Startups
Launched at the STEP Conference 2022, the ‘Startups Go Online’ suite offers startups a range of benefits such as free monthly account management, discounted bank rates, AWS Credits and more Regional startups can apply for the ‘Startups Go Online’ suite, valid until the end of 2022, by visiting the Amazon Payment Services website Dubai, United […]
Finastra partners with DataGear to help corporate banks in Egypt optimize core processes
Reseller agreement will enable DataGear customers to automate corporate banking operations, reduce costs and seize new opportunities for growth Dubai, UAE – February 23, 2022 – Finastra today announced its partnership with DataGear, a leading service provider for banking and financial services in Egypt, to enable corporate banks to rationalize core operations, automate compliance and […]
Saudi Arabia Startup Selected for PepsiCo Greenhouse Accelerator Program
Ten innovative startups from KSA, UAE, Jordan, and Lebanon on track to join PepsiCo’s mentorship program, supporting their growth in innovative sustainable packaging Riyadh, Saudi Arabia – 23 February 2022 – PepsiCo has announced that Okeanos, a Saudi sustainable innovation company developing technologies to immediately reduce plastic pollution, is one of the ten companies selected […]
Mobily reports outstanding 2021 net income growth of 36.8% to SAR 1,072 mn with proposed cash dividends raised by 70% YoY
Mobily delivers highest top- and bottom-line levels since 2014, reaching SAR 14.8 bn and 1.1 bn respectively in 2021 Operational Cash Flow2 increases by 36.9% to SAR 3.5 bn, thanks to steady growth in EBITDA coupled with CAPEX ramp-down on completion of strategic objectives Solid set of results supports the Board’s recommendation to raise cash […]
Nuwa Capital backs Saudi Arabia’s EdfaPay, in its latest Fintech investment in the region
Riyadh, Saudi Arabia, February 20, 2022 – Nuwa Capital announced its latest investment in Saudi Arabia, through its participation in a $1.6M (SAR 6M) pre-seed round of Saudi-based fintech company EdfaPay. The round was co-led by Wallan Investment Group and InspireUs. The company has built a softPOS system, which allows any merchant to accept payments […]
Mastercard Expands Consulting with Practices Dedicated to Crypto, Open Banking and ESG
Riyadh, KSA; 17 February 2022: The business world is facing an influx of innovation: changing consumer preferences, rapid digital transformation and geopolitical shifts. To help businesses evolve and supercharge their growth enterprise-wide, Mastercard today announced that it is expanding its preeminent payments-focused consulting service with new practices dedicated to Open Banking, Open Data, Crypto & Digital […]
Arab Academy for Management, Banking and Financial Sciences Joins Forces with SAS to Bridge Skills and Talent Gap in MENA
The partnership will launch first of its kind programs for post Graduate degree AAMBFS and SAS intend to elevate the caliber of talent within MENA’s financial sector Dubai, United Arab Emirates, (17 February 2022): To address the skills and talent gap facing the financial industry within the region, the Arab Academy for Management, Banking and Financial Sciences […]
Almarai CEO meets Irish Minister of Agriculture, Food and Marine
Almarai CEO, Abdullah bin Nasser Al-Badr, met the Irish Minister for Agriculture, Food and the Marine, Mr. Charlie McConalogue, today on Wednesday at the company’s headquarters. During the meeting, Al-Badr discussed with McConalogue ways of cooperation between the company and the Irish Ministry of Agriculture, Food, and the Marine and reviewed opportunities that might pave […]