Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
SADAFCO Reinforces Commitment to Sustainable Practice with “Towards Sustainability” Strategy
Jeddah, Kingdom of Saudi Arabia, 02 May 2021: Saudia Dairy and Foodstuff Company (SADAFCO) reinforces their commitment to operate sustainably through their “Towards Sustainability” strategy. The implementation of the company-wide effort to reduce carbon footprint, energy use, water consumption and food wastage is the latest in a series of initiatives supporting the company-wide strategy to operate […]
GoDaddy shares tips on how to start an online business
As Saudi Arabia ramps up its support for digital transformation of business and e-commerce, GoDaddy Inc. (NYSE: GDDY), the company that empowers everyday entrepreneurs around the world, offered a number of tips to help entrepreneurs start an online business. Selina Bieber, Senior Regional Director for Turkey and MENA Region, GoDaddy said, “GoDaddy supports Saudi Arabia’s ‘2030 Vision’, with the goal […]
Mohammed Ali Khan Joins Bloom Energy as Senior Director, International Business
SAN JOSE, Calif.–(BUSINESS WIRE/AETOSWire)– Bloom Energy, a leading provider of distributed energy solutions, today announced the appointment of Mohammed Ali Khan to its international leadership team to further strengthen the company’s expansion efforts, enhance competitive positioning and support deployment of its fuel-flexible, clean energy technology. Ali Khan assumes the role of senior director, international business, […]
BANK OF AFRICA selects Conpend TRADE AI app, via Finastra, to digitize trade processes
Conpend’s TRADE AI app will help reduce risk and speed up trade finance transactions Dubai, UAE – April 28, 2021 – Finastra has announced BANK OF AFRICA, a pan-African financial group, has selected Conpend’s TRADE AI app from its open innovation platform, FusionFabric.cloud. The app extends the functionality of Finastra’s Fusion Trade Innovation technology and enables users to reduce document and […]
Samsung Electronics Wins 71 iF Design Awards
The Company recognized for design excellence that elevate consumer lifestyles from product to service design Riyadh, Saudi Arabia – April 28, 2021 – Samsung Electronics Co., Ltd. today announced that it has received a record high of 71 awards at the world-renowned International Forum (iF) Design Award 2021. Samsung won two Gold Awards as part of […]
Ajman Bank Enters into a Strategic Agreement with Saudi German Hospitals Group
The Hospital to offer special discounts on medical services to all uninsured family members of Ajman Bank employees Ajman Bank has signed a strategic agreement with Saudi German Hospitals (SGH) Group that will benefit the uninsured family members of the Bank’s employees by availing special discounts on medical services. Present at the signing ceremony to […]
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Wa’ed, Falak Investment Hub agree to collaborate on venture capital deals to fund more Saudi start-ups
April 28, 2021 – Wa’ed, the entrepreneurship arm of Aramco, agreed to collaborate with Falak Investment Hub, a start-up investor led by one of Saudi Arabia’s most influential women entrepreneurs, to drive venture capital investment in the Kingdom. A memorandum of understanding was signed at Wa’ed’s headquarters in Dhahran by Adwa Aldakheel, Founder and Chief Executive […]
Quara Holding announces Strategic Partnership with CRMNEXT to Drive Digital Transformation and Deliver High Impact Customer Experience Solutions in KSA
Represents Quara Holding’s entrance into the transformative and lucrative digital customer experience space. Riyadh, Saudi Arabia – 27 April, 2021: Quara Holding has announced a strategic partnership with CRMNEXT, World’s No. 1 CRM and digital customer experience platform in banking and financial services, bringing world-class digital transformation solutions to Saudi Arabia. CRM and customer experience management is a […]
Saudi Payments enables FinTech providers to join” mada”
STC Pay and Geidea now part of ‘mada’ network Financial technology (FinTech) companies can now join the National Payment System [M1] ‘mada’, Saudi Payments announced, adding that it has completed the technical authorizations for STC Pay and Geidea to join ‘mada’ network as the first two non-banking entities. Accordingly, STC Pay can issue ‘mada’ cards (digital and plastic), which […]
Finastra makes Fusion KTP available in the cloud for bank and corporate treasurers
Solution now available to customers via Microsoft Azure to speed access to innovation Dubai, UAE – April 26, 2021 – Finastra today announced the availability of its Fusion KTP integrated global treasury management solution in the cloud. Existing customers are already in the process of migrating to Finastra’s cloud solution which is hosted on Microsoft Azure. Accessing […]
Get up to 70 percent off during the noon.com Ramadan sale
Biggest sale of the year so far will be filled with exciting deals, flash sales, and incredible savings off all categories Riyadh, KSA. 26th April, 2021: noon.com, the region’s homegrown digital marketplace, announces its huge Ramadan sale is now live until 29th April with 10 to 70 percent off all categories. The sale will also be packed with […]
Emirates NBD expands its presence in the Saudi market with the official opening of 2 new branches in Mecca and Medina
KSA is one of Emirates NBD’s largest footprints outside the UAE Increased network is part of Emirates NBD’s ongoing economic expansion strategy Riyadh, KSA, 25 April 2021: Emirates NBD, a leading banking group in the MENAT (Middle East, North Africa and Turkey) region, recently opened two new branches in the holy cities of Mecca and Medina. […]
How the World Around Us Affects Market Positions
Dubai, UAE (April 2021): As every good trader will tell you, successful trading starts with good planning, and good planning starts with understanding how the world around us affects market positions. From supply and demand to market sentiment and unexpected events, there are countless factors that can positively or negatively impact the stock market. KNOWEDGE […]
Al Salem Johnson Controls Leads Local HVAC Manufacturing for 20 Years
Dr. Mohanad AlShaikh: The “Made in Saudi” program promotes the sustainability and growth of the Saudi non-oil economy More than 95,000 units manufactured by Al Salem Johnson Controls over the past two decades The company succeeded in exporting 30% of its Saudi-made units to more than 20 countries The company furthered its national manufacturing capabilities […]
Technology Innovation Institute’s Secure Systems Research Centre Partners with World-leading Universities across Groundbreaking Projects
The partnerships with prestigious universities from the UAE, USA and Europe will advance breakthroughs in secure systems Abu Dhabi, United Arab Emirates, 21 April 2021: Technology Innovation Institute (TII), the applied research pillar of Abu Dhabi’s Advanced Technology Research Council (ATRC), today announced that its Secure Systems Research Centre (SSRC) has partnered with Khalifa University, Georgia […]
Egypt’s largest solar plant, Kom Ombo, receives US$ 114 million financing package
EBRD, OPEC Fund, AFDB, GCF and the Arab Bank to finance the 200 MW solar plant in Egypt Kom Ombo solar plant to be developed, constructed and operated by ACWA Power Financing package to increase renewable energy in Egypt Cairo, Egypt, 22 April 2021 ‒ The European Bank for Reconstruction and Development (EBRD), the OPEC Fund for International Development (the […]
Marketing Automation Platform WebEngage Featured in the Financial Times Asia-Pacific High-Growth Companies 2021 List
MUMBAI, India–(BUSINESS WIRE/AETOSWire)– WebEngage, a full-stack Marketing Automation company, has been recognized by Financial Times as one of Asia-Pacific’s top 500 high-growth companies, debuting in the list at rank 206 to emerge as a rapidly-growing company. The report compiled in partnership with Nikkei Asia and research provider Statista — ranks Asia-Pacific companies by their compound annual growth rate (CAGR) […]
9 in 10 adults in Middle East willing to take personal action on sustainability issues: new Mastercard study
Study of 24 countries shows the pandemic is prompting billions1 to consider more sustainable behaviors 80% of adults in the Middle East are more mindful of their impact on the environment since COVID-19, far higher than global average of 3 in 5 adults Almost three quarters of adults (72%) in the region admit companies behaving in more sustainable and […]
Noon payments waives set-up fees for SMEs for the duration of Ramadan
Local businesses needing a payment gateway will save 1,000 AED/SAR when joining noon Riyadh, KSA. April 22nd, 2021: noon.com, the region’s homegrown digital marketplace, is waiving set-up fees for noon payments giving local SMEs extra support in taking their businesses online during the Holy month. Engineered for growth, noon payments is an online payments platform by noon. From e-commerce stores […]
ENOC Group’s terminals operations further expands into the Kingdom of Saudi Arabia
ENOC’s Horizon Terminals Limited and Rotary Arabia complete infrastructure development critical to petrochemical transportation in KSA’s Western Province Project involves four new pipelines from Farabi Petrochemicals Company’s new Yanbu complex to Arabtank Terminal Limited’s storage tanks, a revamp of four existing storage tanks and two new pipelines to King Fahad Port in Yanbu Dubai, UAE; […]
Mobily Ventures celebrates its investment, Anghami, becoming first Arab technology company to list on NASDAQ New York
Anghami to list on NASDAQ New York via merger with Vistas Media Acquisition Company Inc., a publicly-traded SPA company that raised $100 million in its August 2020 IPO Transaction implies an initial pro-forma enterprise valuation of approximately $220 million and is expected to close in Q2 2021 Abu Dhabi-based Anghami is backed by leading MENA […]
Arbah Capital ends 2020 with four successful investments, raising Assets Under Management to 1.6 billion riyals
The year 2020 was a difficult year by all standards around the world in every aspect triggered by the Covid-19 pandemic, and our thoughts and prayers go first and foremost to all those that have suffered loss during this very difficult time. Arbah Capital worked hard during this period despite the circumstances and was able […]