Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
IHG® partners with The Red Sea Development Company to open InterContinental Resort Red Sea
The latest signing is aligned with IHG’s strategy to grow its presence in the Kingdom, in line with Saudi Vision 2030 31 October 2021: IHG® Hotels & Resorts, one of the world’s leading hotel companies, has announced the signing of a Management Agreement with The Red Sea Development Company (TRSDC), an affiliate of Saudi Arabia’s Public Investment Fund (PIF) to open the InterContinental Resort Red Sea […]
Huawei Releases Business Results for First Three Quarters of 2021
Middle East, October 31, 2021: Huawei released its business results for the first three quarters of 2021. During this period, Huawei generated USD70.44 billion in revenue, and its net profit margin was 10.2%[1]. “Overall performance was in line with forecast,” said Guo Ping, Huawei’s Rotating Chairman. “While our B2C business has been significantly impacted, our B2B […]
Radisson Hotel Group shows remarkable growth in 2021 marked by 70 signings and openings in key markets in EMEA
Radisson Hotel Group, one of the world’s leading hotel groups, looks back on a successful Q3 2021 with key expansions across the Group’s EMEA portfolio, reaching over 50 hotel signings and nearly 30 openings in EMEA YTD. Radisson Hotel Group is continuing its road to recovery and ambitious pursuit of its five-year expansion and transformation plan. The […]
LG ANNOUNCES THIRD-QUARTER 2021 FINANCIAL RESULTS
Highest Quarterly Revenues in Company History Reflect Strong Demand for Premium LG Home Appliances and TVs Jeddah, Oct. 28, 2021 — LG Electronics Inc. (LG) today announced third-quarter 2021 consolidated revenues of KRW 18.79 trillion (USD 16.23 billion), an increase of 22 percent from the same quarter last year and the highest quarterly revenue in the history […]
TAWAL contributes to the Saudi Arabia’s afforestation campaign “Let’s Make It Green” as part of its sustainability strategy
In conjunction with the launch of the inaugural edition of the annual forum of the “Saudi Green Initiative” Riyadh, KSA October 27, 2021 – TAWAL, the leading Saudi ICT Infrastructure Company, announced its initiative to plant 3,000 trees in cooperation with the National Center for Vegetation Cover and Combating Desertification, Vegetation Development Corporation “Murouj”, and through […]
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IDC Announces GBM as Strategic Partner for 15th Edition of Its Annual Middle East CIO Summit
Dubai, October 26, 2021 – As preparations get underway for the IDC Middle East CIO Summit 2022, International Data Corporation (IDC) is delighted to announce that Gulf Business Machines (GBM) has been appointed as the event’s Strategic Partner. The IDC Middle East CIO Summit is one of the most anticipated tech events in the region, and next year’s […]
Agtech Pioneer Pure Harvest Smart Farms Secures USD 64.5 million in Growth Capital to Expand in MENASA
● Convertible funding round led by Korea’s leading private investment firm IMM Investment, together with existing investors & insiders ● Brings cumulative capital invested to USD 271.6 million, the MENASA region’s largest Agtech investment ● Accompanies announcement of new joint venture partnership with PlanTFarm, Korea’s leading vertical farming solutions provider Riyadh, KSA: 27 October 2021: Pure […]
ADIPEC 2021 to Host Groundbreaking Smart Manufacturing Conference
Supported by the UAE’s Ministry of Industry and Advanced Technology, the conference will bridge the gap between energy, manufacturing and high-tech sectors to accelerate economic development and diversification Latest addition to world’s most influential energy event will help set the agenda for next successful phase of growth in the energy and manufacturing industries in the […]
Tweeq selects IDEMIA technology for payment cards to customers across Saudi Arabia
Tweeq, a Saudi fintech, has chosen IDEMIA, a leader in Augmented Identity, for card issuance and personalization services. In a recent statement, Tweeq stated that its payment cards will be personalized right here in its Riyadh personalization facility. This also marks IDEMIA’s commitment to localize global technology to the Kingdom’s needs, which utilizes IDEMIA’s industry-renowned […]
Samsung Electronics kicks off ‘Samsung Week’ with exceptional offers and discounts
[Riyadh – Saudi Arabia, 26 October 2021] – Samsung Electronics has announced the kick-off of ‘Samsung Week’, the largest global brand promotion event, in celebration of the company’s 52nd anniversary and its innovation over the years. The event which takes place from 25 October – 1 November 2021, entails exceptional offers and discounts dedicated to Samsung’s discerning […]
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Collinson Appoints Stephen Gilbert as EMEA Loyalty Solutions Director
Gilbert brings more than 25 years of B2B and B2C CRM and loyalty experience to Collinson, including two years at Salesforce New appointment marks an exciting time for Collinson’s loyalty business unit, as it forges partnership with Salesforce to offer Salesforce Loyalty Management alongside Collinson propositions Dubai, UAE- 26 October, 2021: Collinson has today announced the […]
Dar Al Arkan and Madinat Al Wouroud join forces for a premium eco-friendly residential project nestled within Taif’s breath-taking nature
Riyadh, KSA, Dar Al Arkan, the leading real estate company in Saudi Arabia, has signed a joint agreement with Madinat Al Wouroud Housing Development company to develop a premium residential project in the governorate of Taif in the Southwest of Saudi Arabia. The SAR 3.7 billion project will be developed on an area of 1 million […]
Almarai continues its campaigns in preserving the environment to support “Green Saudi Initiative”
Almarai continued its efforts to preserve the environment by launching a number of environmental campaigns in various regions of the Kingdom to maximize vegetation cover and increase green spaces. These efforts come as a commitment to the company’s environmental responsibility and are in line with the “Green Saudi Arabia” and “Green Middle East” initiatives. Almarai […]
Half of Gulf business leaders fear increased competition as data training programmes stall
Whilst digital transformation initiatives accelerate at breakneck speeds, Alteryx research shows over half of senior Gulf leaders face an ever-growing challenge to deliver on core data projects KSA — October 25, 2021 — Alteryx, Inc. (NYSE: AYX), the analytics automation company, today highlights a core discrepancy between the accelerated pace of digital transformation and the provision of […]
GoDaddy launches ten ideas to enhance owners of small business online marketing strategy
GoDaddy which is empowering everyday entrepreneurs around the world by providing all of the help and tools to succeed online has launched tips for small business owners who are in the process of launching a new business or already have one, having a solid marketing strategy for their brand is a MUST. Below the curated […]
Savola Group, through Savola Foods Company, successfully completes the acquisition of Bayara Holding
The acquisition is in line with Savola Foods’ strategy to develop a contemporary business & focus on the youthful and growing categories Jeddah, Kingdom of Saudi Arabia – 25 October 2021: Savola Group, a leading strategic investment holding company with focus on the food and retail sectors in the Middle East and North Africa; Levant Capital, an […]
Social media main enabler for growth among women-owned businesses
95% of women SMEs in the region identify social media channels as the top tool to drive their business ventures Nearly 3 out of 4 women currently rely on word-of-mouth to market their products and services Findings revealed at the inaugural women business workshop hosted by Mastercard and Female Fusion at Expo 2020 Dubai’s Women’s […]
Almarai by 2025: Reducing waste to 50%..100% of cold stores will be CFC-free
Almarai’s 2020 Sustainability Report revealed that by 2025, Almarai will achieve its strategic goal of reducing waste dumped in landfills across all its sectors by 50%. In addition to that, 100% of the cold stores in Almarai warehouses will be free of Chlorofluorocarbons (CFCs) to reduce global warming. The report added that Almarai continued to […]
Samsung Electronics gears up for the launch of ‘Samsung Week’ across its online shop in time for its 52nd anniversary
Exceptional offers and discounts to launch during the week [Riyadh – Saudi Arabia, 24 October 2021] – Samsung Electronics is gearing up for the launch of Samsung Week, the largest global brand promotion event, in celebration of the company’s 52nd anniversary and its innovation over the years. Samsung Week, which will take place from 25 October […]
Almarai ranks fourth globally in achieving sustainability for the environment
Almarai ranked fourth globally in the list of Kantar Research Company in achieving sustainability for the environment for the year 2021. The list was issued as a joint initiative of three research companies (Kantar, Europanel, and GfK). More than 88,000 people were interviewed in 26 countries, including Saudi Arabia, Belgium, Brazil, China, Colombia, Costa Rica, […]
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Dubai Sports Council (DSC) Signs an Exclusive Technology Partnership Agreement with Tecnotree
DUBAI, United Arab Emirates–(BUSINESS WIRE/AETOSWire )– Tecnotree, a leading global provider of technology solutions for Digital Service Providers, announced at GITEX Global (the undisputed tech event for the last 40 years) that Dubai Sports Council (DSC) has selected Tecnotree as DSC’s exclusive technology and ecosystem partner. The agreement was signed by His Excellency Saeed Mohammed Hareb, […]
MA’AN SHOWCASE NINE OF ITS ‘IMPACT MAKERS’ THAT CAME THROUGH ITS SOCIAL INCUBATOR AT GITEX
The Authority of Social Contribution – Ma’an was present for the first time at GITEX under the official platform of the Abu Dhabi government – via the Abu Dhabi Digital Authority. Ma’an showcased nine of its ‘Impact Makers’ – start-up social enterprises that came through its Ma’an Social Incubator programme which is providing innovative, tech-based solutions […]