Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
Digitalization readiness key to unlocking SME growth potential in Middle East & Africa, says new Mastercard white paper
SMEs say digitalization is essential to staying competitive in a transformed business and economic environment White paper follows release of Mastercard MEA SME Confidence Index 2021 Market insights for the UAE, Saudi Arabia, Egypt, Nigeria, Kenya, Ivory Coast and South Africa reveal a blend of diverging perspectives and widespread agreement on key benefits of a […]
Noon.com closes its biggest ever Yellow Friday Sale with a bang
Noon’s flagship sale event was filled with celebrity surprises, mega deals, stunts, and exciting events Riyadh, KSA. 9th December, 2021: noon.com, the region’s homegrown digital marketplace, ended its craziest sale of the year, the Yellow Friday Sale, with a bang after a 9-day extravaganza across KSA, the UAE and Egypt. Noon’s biggest ever Yellow Friday sale […]
JAGGAER/Tejari launches inaugural awards in celebration of Dubai Governments’ advances in digital innovation and technology
The Tejari Procurement Excellence Awards highlight some of the most innovative and forward-thinking initiatives implemented by the Dubai Government using JAGGAER technology to transform the role and impact of procurement During the ceremony, JAGGAER/Tejari signed a Memorandum of Understanding (MoU) with Dubai Future Foundation to launch a new system to innovative the procurement process Dubai, […]
Wa’ed concludes six-city roadshow in Makkah, announcing new seed grants and VC funds to four Saudi-based startups
Saudi Aramco’s entrepreneurship arm has announced up to SAR 7.65 million to four entrepreneurs during the final stop of the nation-wide Wa’ed 2021 Entrepreneurship Roadshow With the final stop concluded, Wa’ed has now dedicated over SAR 43.6 million in financial aid to 28 Saudi entrepreneurs throughout the entire Roadshow campaign December 8, 2021 – Wa’ed, the entrepreneurship arm […]
Economist Impact and Mastercard study reveals that Middle East and Africa is a fertile ground for the growth of super-apps
Super-apps offer a single location from which a consumer can engage in diverse commercial transactions, from calling a cab to paying an electricity bill Wide-ranging study by Economist Impact, the research and analysis arm of The Economist Group, commissioned by Mastercard Middle East and Africa reveals that super-apps have emerged as a business model with […]
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Cedar Rose to Host Webinar on AML and UBO Compliance Requirements in the UAE and GCC Region
Government authorities at international and national levels have increased the pressure on the fight against money laundering and terrorism financing. Identification and verification of the beneficial ownership of corporate third parties (customers, suppliers, agents, consultants, etc.) are now an essential component of the Know Your Customer (KYC) onboarding and remediation processes. Cedar Rose will host […]
W7Worldwide Becomes First Homegrown Saudi Agency to Win Three Prestigious MEPRA Awards
Leading independent communications agency W7Worldwide is the only homegrown Saudi agency to enter and win 3 Middle East Public Relations Association (MEPRA) Awards, competing with the region’s leading agencies. W7Worldwide succeeded in being shortlisted in 13 of the 56 categories, with more than 88 agencies and in-house communications teams participating in the prestigious MEPRA Awards. W7Worldwide swept […]
Mobile Money Transaction Values to Exceed $870 Billion in Emerging Markets by 2026, as the Payments-as a Platform Model Accelerates
Basingstoke, UK – 6th December 2021: A new study from Juniper Research has found that the total value of mobile money transactions in emerging markets will exceed $870 billion in 2026, up from $555 billion in 2021; respresenting growth of almost 60%. Mobile money in emerging markets includes microinsurance, microloans, microsavings and mobile money transfer. This growth will […]
stc pay initiates partnership with Moven to further enrich the customer experience
stc pay now has a new enhancement allowing customers to track their money & spending Riyadh, December 5, 2021 – With stc pay having over 7.4 million loyal users, they never fail to find new ways to enhance their services for their audience and customers. stc pay executes smooth, contactless transactions innovatively, pushing for a cashless […]
SADAFCO partners with HIWPT to empower young Saudi Arabian nationals
Jeddah, Saudi Arabia: December 5th 2021 – Saudia Dairy and Foodstuff Company (SADAFCO) has extended its agreement with the Higher Institute of Water & Power Technologies (HIWPT), a vocational training institute in Rabigh to welcome the fifth group of technical trainees. Developed and conducted in partnership with the HIWPT, the training program empowers young Saudi Arabians by teaching […]
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REDTAG wins the prestigious RetailME Award 2021 for the ‘Most Admired Brand Campaign of the Year’
In an annual symposium hosted by the Middle East Retail Forum at Conrad Dubai, value fashion and homeware brand, REDTAG, won the RetailME Award 2021 for the ‘Most Admired Brand Campaign of the Year’, adding to a year of many firsts and recognitions. December 5th, Dubai, UAE: REDTAG, the Middle East’s leading value fashion and homeware […]
Innovating Nonstop for Faster Digitalization
HUAWEI DAY KSA 2021 held in Riyadh on the 30th of November Huawei is a key enabler of digitalization in Saudi Arabia through its range of technology and services Saudi Arabia – December 02, 2021: HUAWEI DAY KSA 2021 was held in Riyadh on the 30th of November, bringing together industry thought leaders, ICT experts, ecosystem […]
Mastercard and Meta join forces to support the digitization and growth of SMEs in MEA through times of uncertainty
Collaboration to benefit SMEs in the Middle East and Africa region Riyadh, KSA; 1 December 2021 – The world is moving at a faster pace with globalization being fuelled by technology which is enabling companies to scale beyond borders at a pace of months as opposed to years previously. In this context, Mastercard is collaborating with […]
Wa’ed announces a SAR 19 million investment in Saudi-based fintech marketplace Lamaa, in a round co-led with Raed Ventures
Saudi Aramco’s entrepreneurship arm Wa’ed and Raed Ventures co-lead a funding round in the early payment invoice factoring company Lamaa December 1, 2021 – Wa’ed, Saudi Aramco’s entrepreneurship arm, has announced a SAR 19 million Pre-Series A investment co-led with Raed Ventures in Lamaa, the Saudi-based fintech startup providing financing solutions for small and medium enterprises (SMEs), […]
Microsoft’s Corporate VP & President of Middle East and Africa praises Saudi Arabia’s progression towards its Digital Economy
Samer Abu-Ltaif, Microsoft’s Corporate VP & President of Middle East and Africa (MEA) region, praised Saudi Arabia’s great transition on the “digital economy” map, which has become one of the highlights of its evolution of future economic development and diversification. Abu-Ltaif’s observation comes after his visit to Saudi Arabia last week, where he lauded the Saudi government’s […]
HyperPay receives the technology permit from Saudi Payments to activate new “mada” services for its merchants in Saudi Arabia
20 billion SR the value of e-commerce sales via “mada” cards in the Saudi market The payment gateway, HyperPay, continuously enhances their online payment solutions experience in KSA Riyadh, KSA, 1 December 2021: The MENA region’s leading payment gateway, HyperPay, announces receiving the required technology permit from Saudi Payments an organization that operates entirely under the supervision of […]
Saudia Dairy and Foodstuff Company (SADAFCO) welcomes new CEO
RIYADH, November 29, 2021: SADAFCO has announced that Patrick Stillhart has taken the helm as CEO of the company this month. With over 25 years of experience in the food FMCG industry with global conglomerates in Asia-Pacific, Africa, the Middle East, and Europe, he brings a fresh perspective to this position. Faisal Al Ayyar, Vice Chairman at […]
Paymentology Joins Mastercard as a Network Enabling Partner
RIYADH, Saudi Arabia, November 30 2021 – Mastercard, the leading technology company in the global payments industry, has selected leading cloud-based issuer payment processor Paymentology to join its Network Enablement Partner program in the MENA region. The partnership will offer new customers live issuance in accelerated time. The Network Enablement Partner program is a Mastercard initiative to enrich the fintech and […]
Technology is the Primary Disruptor and Value Creator Across All Sectors
By Juerg Kronenberg, Partner, Bain & Company, Middle East and Matthew Crupi, Partner, Bain & Company, Dallas Dubai, UAE, 29 November 2021: Most of the largest creators of value in recent years, regardless of sector, have one thing in common: technology is critical to their business. In general, companies and sectors with less tech-enabled innovation […]
stc pay Wins Gold at the 2021 MENA Effie Awards The App That Redefined Banking
RIYADH, November 28, 2021: stc pay won Gold at the 2021 MENA Effie Awards held on November 24 in Dubai. stc pay won in the Sustained Success – Services category and was recognized as the most successful service since its launch. This award reflects the continuous effort on stc pay’s behalf to promote its digital […]
Innovative and impactful: Kiri claims ‘Best of Middle East’ title at 2021 Gama Innovation Conference & Awards
The leading Bel Group brand was honored for Kiri Greek Style Cheese’s success 2021 Gama Innovation Conference & Awards celebrated the best and brightest product development projects of the last year Kiri Greek Style has achieved an 89% product acceptance rate and 5% market share in the UAE within the first three months of launch as […]
Almarai tops food companies as the healthiest brands for 2021 in the UAE
Almarai Company topped the international food companies in the latest YouGov ranking for the best health brands in 2021 in the United Arab Emirates. Almarai scored 47.3, and the list included many international companies. The ranking is based on YouGov BrandIndex score, which measures the overall brand health to indicate its success by calculating the […]