Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
Resilience Needed to Jump Start Final Stages of Energy Transition, Study Finds
· Nordic countries, including Sweden, Norway, and Denmark, have maintained their leading positions on the Energy Transition Index (ETI), driven by strong progress in environmental sustainability. · Only 13 out of 115 countries have made steady gains in ETI scores in the past decade, highlighting that progress has been uneven. · The energy transition requires […]
Jadwa Investment partners with Saudi Ministry of Human Resources and Social Affairs to develop non-profit sector
Riyadh, 19 April: Jadwa Investment, one of the region’s leading investment management and advisory firms, has announced the signing of a Memorandum of Understanding (MOU) with the Ministry of Human Resources and Social Affairs to launch two investment funds for the purpose of supporting the development of the non-profit sector in the Kingdom. Through the establishment […]
EMKAN CELEBRATES ITS 1 YEAR ANNIVERSARY WITH INSTANT E2E DIGITAL FINANCING SOLUTION
First financial services company to offer instant financing in the Kingdom of Saudi Arabia Plans underway to provide Auto Finance, SMEs Finance, and credit card issuance April 19, 2021 – Emkan, a financial company that provides innovative financial solutions across the Kingdom of Saudi Arabia, has celebrated its first anniversary with the launch of a new digital financing […]
COVID-19 amplifies integrity challenges for businesses in emerging markets: EY
63% of global respondents in emerging markets say it is difficult for organizations to maintain standards of integrity during difficult market conditions 30% of UAE respondents, and 32% in the KSA believe that bribery and corrupt practices present the greatest risk to the long-term success of businesses Saudi Arabia – 18 April 2021: As organizations transition […]
Mastercard Track™ Business Payment Service Welcomes HSBC UAE as Part of Mission to Help Modernize the Middle East and Africa’s B2B Payment Ecosystem
HSBC launches Mastercard Track™ Business Payment Service for commercial customers in the UAE Saudi Arabi – 18 April 2021 – Technology leader Mastercard continues to deliver on its promise to modernize business payments worldwide and across the Middle East and Africa region, announcing a new partnership with HSBC that will provide the bank’s commercial customers in the UAE with an […]
DESIGN INTERNATIONAL UNVEILS ITS LATEST ARCHITECTURAL MASTERPIECE IN DUBAI, SILICON CENTRAL, AND CELEBRATES THE OPENING OF LULU GROUP’S 209TH HYPERMARKET
Dubai, UAE – Silicon Central, designed by Design International, opens its doors to the public of Dubai who will experience the latest Lulu hypermarket, a new 9,000 sqm flagship store by Lulu Group. The project, already considered a new landmark in Dubai, represents a step forward in the now well-established collaboration between Design International and Line Investments […]
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GoDaddy Launches 2021 Brand Campaign to Support Entrepreneurs and Small Businesses in Saudi Arabia
The campaign helps entrepreneurs and small business owners amplify their online presence and inspire their audience through compelling content and design Aims to boost e-commerce supporting the Kingdom’s digital and economic strategies JEDDAH, KSA – 15 April, 2021 – GoDaddy Inc. (NYSE: GDDY), the company that empowers everyday entrepreneurs around the world, announced today the launch of […]
Mastercard Recovery Insights: eCommerce a Covid Lifeline for Retailers with Additional $900 Billion Spent Online Globally
New report spotlights retail’s digital acceleration Online consumer spending in Kingdom of Saudi Arabia has increased driven by a 33% YoY jump in number of online shops 14 April, 2021; Riyadh, Saudi Arabia: As Covid-19 kept consumers around the world at home, nearly everything from groceries to gardening supplies was purchased online. According to Mastercard’s latest […]
Tally Solutions simplifies VAT implementation for the business community in Oman
Muscat, Oman, 14 April 2021: Tally Solutions, an international business management software provider recently hosted a virtual event ‘Ask the Expert’ to address queries on soon-to-be-implemented Value Added Tax (VAT) in Oman. Industry experts in the region were present to share insights and developments, as well as prepare the business community for the upcoming changes in […]
Nahdi Medical Company inks agreement with Ministry of Human Resource and Social Development to employ more than 700 Saudi Nationals
Jeddah, Kingdom of Saudi Arabia – 13 April 2021: In line with the objectives of the Saudi Vision 2030 and as part of its corporate responsibility program, Nahdi Medical Company (NMC), Saudi Arabia’s largest pharmacy retail chain and leading healthcare provider signed a Memorandum of Understanding with the Ministry of Human Recourses and Social Development to employ more than 700 […]
Top Three Global Online Marketplaces Accounted for Nearly Two-Thirds of $2.67 Trillion 2020 GMV
Online marketplaces around the world enjoyed stratospheric growth in 2020. According to the research data analyzed and published by ComprarAcciones.com, the cumulative sales for the top 100 marketplace sites reached $2.67 trillion during the year. Compared to the 2019 figure, that marked an increase of 29% year-over-year (YoY) in gross merchandise sales. It grew at a […]
NFTs Market Cap Experienced A CAGR Of 187% From 2018-2020 – $55M In Revenue For 2020
Non-Fungible Tokens or NFTs as they are colloquially known are the newest trend to come out of the blockchain sphere. NFTs are one-of-a-kind digital certificates that prove ownership of a digital asset. The authenticity of such assets are verified through the blockchain mechanism giving way to a whole new realm of digital collectables. Blockchain’s recent […]
AMAZON PAYMENT SERVICES WAIVES SERVICE FEES FOR SMALL BUSINESSES IN SUPPORT OF CENTRAL BANK OF EGYPT INITIATIVE
Waiver covers all account setup and maintenance fees for Micro, Small & Medium Enterprises (MSMEs) who wish to utilize Amazon Payment Services’ digital payment service CBE initiative empowers new businesses to scale online by providing a wide range of online payment options for their customers Cairo, Egypt, 13th April 2021 – Amazon Payment Services, a payment processing service […]
MENA M&A hits US$17.1 billion in Q1 2021
MENA Investment banking fees recorded US$ 218 million in first quarter 2021 MENA equity and equity-related issuance reached US$ 276 million while debt issuance totalled US$ 34.8 billion in 2021 UNITED ARAB EMIRATES – Refinitiv released the Middle East and North Africa investment banking analysis for the first quarter for 2021. According to the report, the Investment […]
China and US to Generate 60% of Global Ecommerce Sales in 2021
The ongoing COVID-19 lockdowns continue fueling the explosive growth of the eCommerce market, as millions of consumers worldwide shifted from brick-and-mortar stores to webshops. According to data presented by Trading Platforms, the revenue of the global eCommerce industry is expected to jump by 12% YoY and hit $2.7trn in 2021, a 12% increase year-over-year. China and […]
Mastercard signs MENA region’s first Tap-on-Phone agreement with Geidea
Geidea’ s launch will enable safe and secure contactless payments on delivery in Saudi Arabia RIYADH, Kingdom of Saudi Arabia, April 12 2021: Global technology company Mastercard, and Geidea, the largest fintech company in Saudi Arabia by market share, have announced a strategic partnership agreement to accept Mastercard payments onTap-on-Phone solution in Saudi Arabia – the first such […]
Qarar partners with CredoLab to bring Alternative Credit Risk Score Solutions to the Middle East
Mobile and web digital footprints to detect fraud and credit risk using big data, machine learning algorithms, artificial intelligence and sophisticated algorithms Dubai, UAE, April 2021: Qarar, a leading regional credit risk and decision analytics company, announces a new partnership with CredoLab, the most seamless, transparent, and accurate alternative-data credit risk scoring provider in the market today. […]
Versace Home to create the stunning interiors for new Dar Al Arkan luxury villas in Shams Ar Riyadh Project
12 April 2021, Riyadh, KSA: Dar Al Arkan, the leading real estate company in Saudi Arabia has announced a unique collaboration that will bring the world’s first ever villas with interiors by Versace Home to the Kingdom’s Shams Ar Riyadh project. Versace Home’s outstanding design and craftmanship will augment the extraordinary ‘Upside Living’ design of […]
Under the patronage of the Crown Prince and Saudi Minister of Energy ACWA Power inaugurates KSA’s first utility scale renewable energy project
Inauguration of Sakaka PV IPP marks a historic moment in the Kingdom’s energy transition as a cornerstone for future renewable energy projects The 300MW PV plant exemplifies the role of PPPs in enabling socio-economic progress in KSA, achieving nearly 100% job localisation Al Jouf, KSA, 09 April 2021: ACWA Power, a leading Saudi developer, investor and operator […]
Huawei Mobile Services expands partnership with Mondia Pay for safe, contactless mobile payment services from operators
The strategic partnership will enable contactless payments via HUAWEI devices on networks across Africa and the Middle East, including Egypt, South Africa, and Tunisia Dubai, UAE, 11 April 2021: Huawei Mobile Services has teamed up with Mondia Pay, a digital payments company, to roll out seamless and contactless payments solutions for mobile network operators. Since the […]
Long-standing partners, Mastercard and Uber extend their partnership to boost payment digitization and advance financial inclusion across the Middle East and Africa
Saudi Arabia – 6 April 2021: Uber’s long-term partnership with Mastercard continues to grow with a new strategic initiative focusing on digital payments and advancing financial inclusions which will be facilitated by Mastercard across the Middle East and Africa (MEA). As a regional first, the partnership with Mastercard will enable Uber to drive digitization across their […]
Noon.com launches mega Ramadan grocery sale on noon Daily
Grocery sale with exclusive deals, bundles, and flash sales in Riyadh and Jeddah, KSA Riyadh, KSA. 6th April 2021: noon.com, the region’s homegrown digital marketplace, announces its mega Ramadan noon Dailysale will be live now until 12th May with up to 75 percent off groceries and household essentials set to delight customers in Riyadh and Jeddah over the month […]