Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
EMKAN WINS FASTEST GROWING DIGITAL MICROFINANCE COMPANY IN SAUDI ARABIA AT THE GLOBAL BUSINESS OUTLOOK AWARDS 2021
May 31, 2021 – Emkan, a financial company that provides innovative financing solutions across the Kingdom of Saudi Arabia, has been awarded the Fastest Growing Digital Microfinance Company in Saudi Arabia at the Global Business Outlook Awards 2021 (GBO). The GBO Awards extend to the private and public sector, recognizing the work of businesses across performance, […]
SFD signs a $10 million export financing agreement with the National Bank of Iraq
Will support trade exchange and development projects in Iraq RIYADH, May 30, 2021…The Saudi Fund for Development (SFD) has signed an export financing agreement with the National Bank of Iraq, a subsidiary of the Capital Bank Group, to provide credit facilities worth $10 million to Iraqi importers who seek to import Saudi products and services. […]
Leading retailer Lulu awarded first GSAS ‘Gold’ rating in MENA region for sustainable operations
DOHA, Qatar, 30 May 2021, (AETOSWire): Lulu Hypermarket in Qatar has become one of the first retailers in MENA to achieve sustainable operations certification under the Global Sustainability Assessment System (GSAS) from the Gulf Organisation for Research & Development (GORD). Upon completion of necessary audits by sustainability experts from GORD, LuLu Hypermarket building located in Qatar’s […]
Real-time analytics, a product view of spending and shared accountability help executives see where the money is (and isn’t) generating value.
A Three-part Program to Improve Business Outcomes By Dr. Houssem Jemili, Partner in Technology, Digital, and Advanced Manufacturing and Services practices at Bain & Company Middle East and Bao-Viet Lê, Partner in the Financial Services practice at Bain & Company Middle East. Companies spend a lot on information technology every year, but few are achieving what […]
SWIFT outlines strategic vision for smarter securities
New paper details SWIFT’s plans to transform platform for securities processing as part of its strategy for smarter securities Explores industry need for a collaborative post-trade utility to facilitate, frictionless securities transactions Will mitigate settlement fails, reduce costs and improve efficiency Brussels/Dubai, 27 May 2021 – SWIFT today published a paper detailing its vision for an enhanced capital […]
Huawei launches its first ever one-stop shop for startups in the region
Designed to empower startups and developers as they target worldwide customers 27th May 2021, Dubai, UAE: Huawei has launched a one-stop shop for startups and developers, which is the first such initiative by the global tech giant in the region. Through this initiative, Huawei aims to empower innovative entrepreneurs in the region to scale and grow […]
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Peru to showcase its unique aesthetic style and rich home design tradition at INDEX Dubai
Dubai, May 2021: Peru is pleased to showcase its world-class design diversity at INDEX Dubai, the region’s leading exhibition for furniture, furnishing and lighting. The Peruvian Pavilion will present a number of exclusive home décor designers that together will reflect the diverse culture, history and materials that define the beautiful nation. This is the fifth […]
TOP 10 THINGS NOT TO MISS AT INDEX 2021
Show highlights include seminars, product showcases and engaging experiences Dubai, United Arab Emirates, May 2021: INDEX, the international interior design trade show is set to take place between May 31st and June 2nd in Dubai World Trade Centre, reconnecting the industry’s top professionals for the first live interiors event since 2019. The fair will offer valuable access and […]
Should credit markets be worried about inflation?
Luke Hickmore, Investment Director Fixed Income at Aberdeen Standard Investments comments on the likely trajectory for inflation and interest rates in the coming months and the inevitable effect on credit markets. “In the first five months of the year, inflation has become a growing concern for markets. On credit markets, there’s been higher volatility in yields, […]
PUBG Mobile Hit Nearly $5B in Lifetime Player Spending
As the world’s most popular mobile game by monthly active users, Tencent’s PlayerUnknown’s Battlegrounds has generated impressive revenue across the Apple App Store and Google Play. According to data presented by 123scommesse, PUBG mobile generated $238 million in revenue across App Store and Google Play in April, with its lifetime player spending reaching nearly $5bn that […]
THE INFRASTRUCTURE INFLECTION POINT
by Gershon Cohen, Global Head of Infrastructure Funds, Aberdeen Standard Investments Not long prior to me writing this outlook for concession infrastructure[1], UK Prime Minister Boris Johnson and leading environmentalist Sir David Attenborough were launching the next COP26 United Nations (UN) climate summit. This is due to take place in Glasgow during November 2021. The […]
Hisense Super Brand Week – Get ready for the big game!
Hisense commences its first edition of global e-commerce exclusive sales promotion under the name “Hisense Super Brand Week” starting 26 May – 2 June 2021, where its products will be available on various UAE ecommerce platforms. The Hisense Super Brand Week is based on Hisense’s global Euro sponsorship concept which is “Your Home, Your Stadium” […]
Fiscal Year 2020/2021 Proves Transformational for AVEVA Despite Pandemic Challenges
Global Industrial Software and Data Management Leader Delivers A Strong Business Performance with further Opportunities Ahead Dubai, UAE, May 25, 2021 – AVEVA, a global leader in industrial software driving digital transformation and sustainability, announced its results for the year ended 31 March 2021 (FY21). The results showed that AVEVA had made strategic, financial, and operational progress in the […]
Avaya Reports Second Quarter Fiscal 2021 Financial Results
Total revenue increased 8% year-over-year to $738 million Avaya OneCloudTM ARR increased 31% sequentially to $344 million Raising Revenue, OneCloud ARR, CAPS and Adj. EBITDA Guidance for Fiscal 2021 Cloud, Alliance Partner & Subscription grew to 40% of revenue Dubai, UAE, – May 9, 2021 – Avaya Holdings Corp. (NYSE: AVYA) today reported financial results […]
Mastercard welcomes NEC Payments as a Global Partner of Fintech Express
Saudi Arabia – 24 May 2021: Mastercard has announced that the Bahrain-based NEC Payments is now a global partner of Mastercard Fintech Express, which connects tech-savvy startups with traditional players such as banks. The program supports digital payment innovators by making it simple to collaborate with the tech company and its partners to launch new […]
UAE’s Evolvin’ Women announces first financial institutional support from ZANACO
ZAMBIA NATIONAL COMMERCIAL BANK WILL PROVIDE LAPTOPS AND SCHOLARSHIPS FOR EVOLVIN’ WOMEN PARTICIPANTS Dubai, UAE, May 24th 2021 – Evolvin’ Women, a ground-breaking UAE-led initiative that promotes the advancement of women in Africa’s underprivileged rural communities, has secured its first financial institutional support from Zambia National Commercial Bank (ZANACO) to empower its participants. A Dubai-based […]
Mobile Contactless Payment Market to Surge by 24% to $2.5 Trillion in 2021
Demand for mobile contactless payment options has been on a steep uptrend in recent years, gaining additional impetus from the pandemic in 2020. The space is expected to maintain its robust momentum through 2021 and beyond. According to the research data analyzed and published by ComprarAcciones.com, the market hit a benchmark of $2 trillion in transaction […]
Citi appoints Ebru Pakcan as Head of the EMEA Emerging Markets Cluster
Dubai, UAE– Citi is pleased to announce the appointment of Ebru Pakcan as Head of the EMEA Emerging Markets Cluster, effective immediately. Ebru is a proven leader and has held several global and regional roles within the Treasury and Trade Solutions business. Most recently, she was the Global Head of Trade, responsible for facilitating financing and intermediary services […]
What the Knowledge Worker of 2030 will do
Immersive screens, virtual desktops and AI assistants will boost the next wave of end-users By: Andrew Brinded, Senior Vice President EMEA Sales, Nutanix To understand what end-user computing may look like in 2030, first think about how you work today and consider how you worked 10, 20, 30 years ago. And if you’re lucky enough […]
Citi Appoints Wassim Al-Khatib as Citi Saudi Arabia CEO
Riyadh, Saudi Arabia – Citi today announced the appointment of Wassim Al-Khatib as Citi Saudi Arabia (CSA) Chief Executive Officer,subject to approval by the Saudi Arabian Capital Market Authority (CMA). In this capacity, Wassim will be responsible for Citi’s regulated business in Saudi Arabia and for coordinating the overall delivery to clients in the country, reporting to […]
Lucid Motors to list on NASDAQ as “LCID” after merger
Today, Lucid Motors announced that when the merger with Churchill Capital Corp IV (CCIV) is complete the new company will be listed on the NASDAQ exchange under the symbol LCID. Lucid announced in February a business combination with CCIV, a publicly traded special purpose acquisition company, or SPAC, that was publicly listed on NYSE. The […]
Bloomberg & Re:Coded collaborate to support the advancement of youth in the Middle East
Women comprise over half of mentees Over 240 young people across the Middle East already stand a better chance of building a sustainable career in the digital economy thanks to a recent partnership between Bloomberg and Re:Coded, a US non-profit working to bridge the region’s digital divide. Since July 2020, Bloomberg employees have been working […]