Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
Jadwa Investment Launches SAR 1 Billion AlDar Investment Fund
Riyadh, [5] April 2021: Jadwa Investment, a leading regional investment management and advisory firm, announced today the successful launch of its AlDar Investment Fund in partnership with AlMajdiah Group, and Riyad Bank. . AlDar Investment Fund is a closed-end, Shariah-compliant real estate investment fund with a total size of SAR 1 billion (USD 266 million) and a fund term of […]
The post-pandemic landscape ushers in era of green investment imperative, says new Arthur D. Little report
Nurturing disruptive ventures and business models via innovative financing and ecosystem orchestration creates a virtuous cycle further accelerated through government policies during COVID” Dubai, UAE, 5 April 2021: In pre-pandemic times, progress towards transformational change remained remarkably slow, despite climate change and sustainability rising higher than ever before on large companies’ strategic agendas. Although COVID-19 may […]
For the First Time the Unions of Arab Banks, Technology and Chambers Operating Under the League of Arab States Join Forces with GCEL to Empower The Digital Economy Between the Arab Nations and Their Trade Partners
GENEVA–(BUSINESS WIRE/AETOSWire)– The Union of Arab Banks (UAB), Union of Arab Chambers (UAC), and Arab Information and Communication Technology Organization (AICTO), operating under the Arab League umbrella, joined forces with the Global Coalition for Efficient Logistics (GCEL / Coalition) to deploy the Digital Economy Platform (DEP) empowering the Digital Economy between the Arab Nations and their trade partners. The DEP delivers new digital […]
Hunter Point Capital Appoints Operating Partner for Middle East
Addition of Zade Zalatimo expands HPC’s global coverage capabilities NEW YORK–(BUSINESS WIRE/AETOSWire)– Hunter Point Capital (“HPC”), an independent investment firm focused on taking minority stakes in middle-market alternative asset managers, announced today the appointment of Zade Zalatimo as an Operating Partner. Based in Dubai, Mr. Zalatimo will lead HPC’s capital formation and institutional investor relations […]
Social investment: a way to accelerate economic growth and productivity
Around the world, the ongoing COVID-19 pandemic has laid bare the limitations of existing social welfare systems, and increased pressure on governments to secure and improve social protection for their citizens, placing significant strain on government resources. This is particularly true in the GCC, where countries use a social welfare model that creates a strong […]
Huawei releases its 2020 Annual Report
Huawei reaffirms its commitment to creating greater value for customers and society in the face of adversity [Shenzhen, China, March 31, 2021] Huawei released its 2020 Annual Report today. Growth slowed, but the company’s business performance was largely in line with the forecast. Huawei’s sales revenue in 2020 rounded off at approximately US$136.7 billion, up 3.8% […]
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Public-private partnerships drive national development and support socio-economic sector growth
Arthur D. Little report outlines how partnering with private sector will bridge investment gap, nurture collaboration, and bolster performance for governments Dubai, United Arab Emirates – 30 March 2021: Public-private partnerships (PPPs) are an essential tool to accommodate and advance Middle Eastern infrastructure requirements. When planned, designed, and implemented prudently, they can contribute to national development and support […]
JAGGAER/Tejari connecting Middle East SMEs with Dubai Government entities via revamped eSupply platform
The updated website will provide opportunities for SMEs in the Middle East region to collaborate with Dubai Government entities on the secure and transparent online procurement portal Dubai, United Arab Emirates, March 28th, 2021: JAGGAER, the world’s largest independent spend management company, has officially launched its newly updated eSupply platform, which includes a range of user-friendly features […]
Earth Of One Eight Set to Revolutionize Retail Landscape in Middle East Region with Immersive Customer Experiences
Innovative 9m x 3m walk-in pod with abstract geometric face, aims to capture imagination of retailers, customers with latest technology analytics Futuristic concept aligns with Smart Dubai 2021 initiative to transform Dubai into a futuristic destination Dubai-UAE: March 2021 – In a bid to bring customers up close and personal to their favorite retail brands and […]
Sidra Capital’s USD Private Finance Funds Continue To Achieve Target Returns despite The Effects of COVID-19 Pandemic
USD Income Fund generates an annual return of 8% while USD Mutajara Fund registers healthy 5% returns Jeddah, Saudi Arabia, March 24, 2021, (AETOSWire) – Sidra Capital, a Shari’ah compliant asset management firm headquartered in Jeddah, Saudi Arabia, and regulated by the Capital Market Authority (CMA), has announced healthy annual returns on two of its US Dollar-denominated funds: […]
‘Three Forces are Driving the New Cloud Shift for Organizations in Saudi Arabia,’ says Nutanix Saudi Country Head
Riyadh, KSA, 25 March 2021: Cloud adoption is accelerating in Saudi during the pandemic as organizations seek to rapidly deploy applications, tools, and services that are suited to remote working. But the ways in which clouds are being deployed, and the reasons why, have changed. Mohammad Abulhouf, General Manager, Saudi & Bahrain at Nutanix outlines the […]
Operation 300bn: The critical role of Smart Water in achieving a thriving economy
Comment by Francois Frigaux, Regional Director, Sensus, a Xylem brand, following the announcement of Operation 300bn: “Operation 300bn has laid out a clear path for the UAE to become one of the leading global industrial hubs by 2031. The 10-year comprehensive plan announced by the UAE Government will revolutionize the industrial sector, and channel innovation to boost […]
SWCC sets a new Guinness World Records™ title for Lowest energy consumption for a water desalination plant
Riyadh, Saudi Arabia, 24 March 2021 – The Saudi Water Conversion Corporation (SWCC) has set a new Guinness World Records™ title for the Lowest energy consumption for a water desalination plant with 2.27 kW/h per cubic meter of desalinated water. This new achievement is the latest of several records and milestones that SWCC has reached, […]
Liquid continues growth trajectory across MENA region with expansion into KSA & Egypt
A team of 20 experts across KSA & Egypt offices, the majority of which are local talent Liquid have scaled up from start up, to a team of over 90 experts in just five years Company reports a 35% increase in revenue in 2020 Dubai, UAE – Liquid, the award-winning retail ideas company fully dedicated to ensuring […]
Banque Saudi Fransi goes live with Finastra to future-proof treasury and trading business
Bank chooses the latest version of Fusion Kondor to streamline trading and risk operations and deliver new services to customers Riyadh – March 23, 2021 – Banque Saudi Fransi, a bank based in the Kingdom of Saudi Arabia, has gone live with the latest version of Fusion Kondor, Finastra’s treasury management solution. The move will enhance, automate and standardize the […]
Evelo Biosciences & Abdul Latif Jameel Health Announce Strategic Collaboration to Develop & Commercialize Novel Therapy EDP1815 for Inflammatory Diseases & COVID-19 in Select Developing Markets Serving 1.7 Billion People
Collaboration expected to accelerate access to Evelo’s lead inflammation product candidate and COVID-19 therapeutic medicine EDP1815 – if approved by relevant health authorities – to people in select developing markets and is Abdul Latif Jameel Health’s first biotechnology licensing agreement. The agreement launches Abdul Latif Jameel Health’s vision to accelerate access to affordable modern health care and […]
Huawei Increases Investment in Carrier Software
Middle East, March 23, 2021: To strengthen its leadership in 5G business transformation, Huawei is increasing investment in carrier software as a strategy to support 5G business success. The announcement comes in response to the rapid development of innovative 5G enterprise market applications such as AR maintenance, remote PLC, intelligent quality inspection, and drone monitoring. 5G […]
Jadwa Investment Launches Real Estate Investment Fund
Riyadh, 22 March 2021: Jadwa Investment, one of the region’s leading investment management and advisory firms, announced today the successful launch of its Real Estate Investment Fund (REIF) in partnership with Tatweer Holding Group, Riyad Bank and Bank Albilad. The objective of the fund is to provide investors with a stable stream of income distributions and capital […]
Geidea becomes the only non-bank to be granted acquiring a license from SAMA and announces “Tap on Phone” solution enabling merchants to accept contactless payments with their mobile phones
In addition to the Tap on Phone solution, Geidea also offers a complete suite of payment solutions for SMEs ranging from payments, point of sale and e-commerce Geidea contributes to Saudi’s 2030 Vision to increase cashless payments to 70% by 2030 Tap on Phone app-based solution will empower SMEs with the tools to take payments, […]
Cedar Rose Rolls Out its Full Range of Credit Risk Management Services in the GCC
Cedar Rose has announced the launch of its comprehensive range of award-winning Credit Risk Management tools and services across the GCC. With a strong global presence, Cedar Rose has been at the forefront of providing world-class business intelligence and credit risk solutions in over 230 countries to leading firms since 1997. To support its growth in the GCC and […]
Warning: Middle Eastern banks must minimize Non-Performing Loans consequences and ensure portfolios remain high in terms of value
Non-Performing Loans are set to peak in 2021 and effects can be mitigated through a Workout Unit, according to Arthur D. Little Dubai, United Arab Emirates – 21 March 2021: The ongoing pandemic has resulted in Middle Eastern economies confronting severe repercussions, with banking institutions widely expected to experience companies defaulting on loans and cashflow problems. […]
Amazon grows its network with 11 new buildings and 1,500 jobs across Saudi Arabia
Amazon will create over 1,500 additional jobs across KSA; the multiplier effect of Amazon investments will generate thousands of additional indirect jobs across Saudi Arabia Amazon’s continued investments in Saudi Arabia will better serve customers through enhanced geographical reach and faster delivery speeds on a wider selection of products Riyadh, Saudi Arabia – 17 March […]