Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
GCC INVESTORS NEED TO LOOK WIDER FOR GROWTH OPPORTUNITIES
Expectations of a relatively slow economic rebound are driving diversification strategies across the GCC, offering investors some less traditional routes to potential returns. Abu Dhabi, 18 May 2021: Modest 2021 recovery forecasts for the GCC have increased the focus on diversification from the hydrocarbon sector, potentially opening up some less traditional growth opportunities, according to […]
EY: 70% of MENA consumers believe brands have a responsibility to positively impact the world
57% of MENA consumers will prioritize the environment and climate change in how they live and the products they buy 77% of MENA consumers are prepared to share personal data for healthier product recommendations 58% of MENA consumers say price will drive their purchasing choices three years from now Saudi Arabia – 17 May 2021: […]
Mitsubishi Power Achieves #1 Market Share Globally in the First Quarter of 2021 According to McCoy Power Report
♦ No. 1 in the global gas turbine market with a 29.0% share ♦ 40.8% share of the heavy-duty gas turbine market YOKOHAMA, JAPAN (May 17, 2021) – Mitsubishi Power, a subsidiary of Mitsubishi Heavy Industries (MHI) Group, captured the top market share by megawatts in the first quarter of 2021 with a global gas turbine market […]
Climate Change Tops the Agenda for Institutional Investors in 2021
Institutional Investors Highlight the Growing Importance of ESG in Investment and Proxy Voting Decisions in a New Morrow Sodali Survey LONDON–(BUSINESS WIRE/AETOSWire)– When institutional investors with USD 29 trillion in assets under management were asked what issue was most likely to prompt them to engage with company boards, climate change topped the agenda. This is […]
TiE to shine the Flame of entrepreneurship with its Global Summit in Dubai
Summit to attract over 2000 entrepreneurs from over 25 countries, investors, thought leaders and policymakers KSA – 17 May 2021 –The Dubai chapter of The Indus Entrepreneurs (TiE) announced that it will host the largest ever TiE Global Summit (TGS2021) for the first time in the UAE in December 2021. A total of over 2000 entrepreneurs, […]
Herman Miller Launches Post-Pandemic Office Collection
OE1 Workspace Collection Activates Agility and Modularity to Design Offices Fit for the Future UAE: May 16th, 2021: COVID-19 may not have made any 2020 prediction lists, but it certainly is leaving an impression on how companies and individuals will work in the future. With vaccines rolling out globally, infection rates dropping, and local governments beginning to […]
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SWIFT and Accenture publish joint paper on central bank digital currencies in cross-border payments
New report discusses opportunities and challenges of CBDCs for international payments Sets out practical requirements for adoption of digital currency at scale Outlines how SWIFT can support the financial community as new solutions are developed Dubai, 16 May 2021 – SWIFT and Accenture today published a paper on central bank digital currencies (CBDCs) in cross-border payments as part […]
What’s REALLY behind Musk’s Bitcoin u-turn?
Elon Musk’s sudden u-turn regarding Bitcoin on Twitter – which sent prices plummeting by 15% – could be more of a PR stunt than anything else, says the CEO of one of the world’s largest independent financial and fintech organizations. The observation from Nigel Green, deVere Group’s chief executive, comes as the Tesla billionaire boss […]
Smartphone Games Account For Nearly Half Of Global Gaming Market In 2020 – $75B
The smartphones of today have become more powerful and technologically advanced than ever before, becoming an exciting new platform for different types of software such as games. According to data presented by 123scommesse, smartphone games generated $74.9M in 2020 – a 43% share of the global gaming market. Smartphones Biggest Source Of Revenue – 43% Of […]
Urgency for Industrial Transformation Takes Center Stage at Global Ignite Talks 2021: September 21-23
As industry races to meet 2050 net-zero goals, this global conference will elevate conversations on the role of data driven technologies and innovations. Ignite News media platform launches alongside Ignite Talks to deepen industry coverage and dialogue around transformation. OSLO, Norway & AUSTIN, Texas–(BUSINESS WIRE/AETOSWire)– Cognite, a leader in industrial innovation, will host its fourth annual […]
Mastercard New Payments Index: Consumer Appetite in Saudi Arabia for Digital Payments Takes Off
94% of consumers in Saudi Arabia are considering emerging payments such as biometrics, digital wallets, transfers, and currencies, and QR code, in addition to Contactless, according to the Mastercard New Payments Index 92% of consumers in Saudi Arabia have access to more ways to pay compared to this time last year 3 out of 4 […]
CallisonRTKL unveils five key trends in building net-zero cities in the MENA region
Focus on material use, cooling systems, and cross-industry collaboration is central for the design firm Dubai, UAE – 9 May 2021: Industry experts from CallisonRTKL (CRTKL), the global architecture, planning and design firm, have revealed five key trends for the development of net-zero cities in the Middle East and North Africa region. Experts highlight the need […]
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 6, 2021 – Avaya Holdings Corp. (NYSE: AVYA) today reported financial results for the second […]
INNOVATION EARMARKED FOR KEY ROLE IN DRIVING DOWNSTREAM GROWTH
Gulf Petrochemicals and Chemicals Association and Oxford Business Group to team up for new Covid-19 Response Report Dubai, UAE, May 2021: A new Covid-19 Response Report (CRR), produced by Oxford Business Group (OBG) in partnership with the Gulf Petrochemicals and Chemicals Association (GPCA), will explore the key role that innovation is set to play in adding […]
Zain KSA sees 14% profit growth
The company continues to maintain its profitability for the eleventh consecutive quarter Accumulated losses drop to SAR 13 million Riyadh, May 6, 2021 Zain KSA has recorded revenues of about SAR 1,938 million and achieved net profit of SAR 41 million for the first quarter of 2021, a 14% growth as compared to the fourth quarter of 2020. Zain KSA […]
Protiviti and regional Internal Auditors Associations evaluate pandemic’s impact on the overall risk landscape
Urge Internal Auditors to work closely with Board and Audit Committees as a strategic partner in addressing cybersecurity, privacy, and other priorities KSA; 9 May 2021: As Audit Committees continue to face crowded agendas and increasing complexity in 2021, Protiviti Member Firm for the Middle East Region and prominent regional chapters of Internal Auditors Associations – […]
Saudi Startup Retailo Concludes Seed Round, Secures $9 million Total Investments Within 9 Months Of Operations
· Largest seed round for a Saudi start-up · Led by Shorooq Partners and Abercross Holdings, joined by AgFunder, and Arzan Venture Capital Riyadh, Saudi Arabia, May 6, 2021 – Only nine months into operations, Retailo has successfully closed a $6.7 million seed investment round, the largest seed capital raised by a Saudi startup. This brings […]
2021 Bloomberg New Economy Forum to Convene Global Leaders In-Person in Singapore November 16-19
Michael R. Bloomberg to host fourth annual forum focused on advancing world’s greatest economic opportunities amidst Covid-19 recovery, from East to West and across the developing world First-ever “Bloomberg New Economy Catalyst” virtual event welcomes a new wave of world-shifting visionaries on June 30 The 2021 forum is presented in partnership with ADNOC Riyadh, Saudi […]
Saudi Arabia’s Basamh Digitally Transforms to Drive GCC’s USD 253 Billion Retail Market
Basamh Gains Real-Time Decision-Making in FMCG with SAP Solutions RIYADH, Kingdom of Saudi Arabia — 6 May 2021— Basamh Trading and Industries Group, one of Saudi Arabia’s most successful purpose-led fast-moving consumer goods (FMCG) businesses in in the Middle East and Africa, announced today its digital transformation is driving the GCC’s USD 253 billion retail market. […]
Acronis, the global leader in cyber protection, receives more than $250M investment at a $2.5B valuation
Funding to accelerate growth, expand its portfolio of cyber protection products, and enable service providers to serve their clients better Dubai, United Arab Emirates, 04 May 2021, (AETOSWire) – Acronis, the global leader in cyber protection, is pleased to announce that it has received more than $250 million funding round from CVC Capital Partners VII and other investors. Acronis will use the […]
ACWA Power expands its presence in Central Asia with largest single-site wind farm in the region
In the presence of HRH Minister of Energy and Uzbekistan’s Deputy Prime Minister: Implementation agreement for 1500 MW wind farm signed with Uzbekistan’s Ministry of Investments & Foreign Trade, and Ministry of Energy Riyadh, Saudi Arabia, 4 May 2021: In the presence of His Royal Highness Prince Abdulaziz bin Salman, Saudi Minister of Energy, and His […]
Great Place to Work survey ranks TAWAL as the 13th best company to work for in Saudi Arabia.
TAWAL ranked as one of Saudi Arabia’s best companies to work for following Great Place to Work research. Saudi Arabia, 04 May 2021: TAWAL has been ranked as one of the top companies to work for in Saudi Arabia by the Trust Index Survey of Great Place to Work. The Human Resources consultancy, which has […]