Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
Dubai Internet City and in5 give start-ups a promising platform at GITEX
The region’s leading tech hub hosted high-level guests and professional development workshops at its pavilion. The in5 stand saw numerous one-to-one meetings between start-up founders and angel investors, while the incubator signed a series of MoUs to bolster its start-up ecosystem. October 21 2021, Dubai, UAE: Dubai Internet City (DIC) and in5 concluded their activities […]
75% of Saudi consumers trust digital payments for online and in-store shopping: Visa-Saudi Payments survey
75% of Saudi consumers trust digital payments for online and in-store shopping: Visa-Saudi Payments survey – Consumers reported improved technology and safety measures helped them retain confidence in digital payments. – 85% drop in Cash on Delivery during pandemic as consumer trust in digital payments continues to rise– Findings suggest digital payments adoption will continue to […]
Cura – Saudi Arabia’s leading telehealth startup announces a SAR 15 million Series-A investment from ELM and Wa’ed
19 October, 2021 – Cura, Saudi-based leading telehealth startup that works to revolutionize public access to professional digital healthcare services in Saudi Arabia announces closing of SAR 15 million Series-A investment from ELM and Wa’ed (the entrepreneurship arm of Saudi Aramco). Established in 2016 by software engineers Wael Kabli and Mohammad Zekrallah, Cura became the first Saudi-based […]
Mastercard Academy: ‘The Entrepreneur’s Odyssey’ Educational Platform to help SME owners grow a resilient business venture
Online playbook hosts free-to-access learning modules that bring SME owners and leaders face-to-face with renowned academics from Harvard, INSEAD, Wharton and the Christiansen Institute of Innovation Seasoned entrepreneurs, investors and Mastercard thought leaders comprise additional faculty to teach both the theory and practice of small business success Riyadh, Saudi Arabia; 18 October 2021: From urban kiosks […]
Wa’ed allocates up to SAR 6.9 million in new seed grants and VC funds during its fourth Roadshow stop in Riyadh
A total of SAR 6.9 million was dedicated to three Saudi entrepreneurs at the fourth roadshow stop in Riyadh 18 October 2021 – Wa’ed, the entrepreneurship arm of Aramco, has dedicated a total financial aid of SAR 6.9 million to three Saudi-based startups, as the centre concludes its fourth roadshow stop in Riyadh after successfully completing […]
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Finastra introduces instant onboarding for cloud payments technology
Move provides fast and automated onboarding for financial institutions via open APIs, enabling them to bring innovative payments solutions to customers at speed Dubai, UAE – October 18, 2021 – Finastra announced new instant onboarding capabilities for its Fusion Payments To Go solution. The move enables banks to access the benefits of Finastra’s SaaS solution at speed and […]
The first world economic congress that aims to change the face of world economies – IUBCCI Worldwide Headquarter and IUBCCI UAE
The High-End Congress of Economic Diplomacy event hosted and organized by the International Union of Bilateral Chambers of Commerce and Industry of the United Arab Emirates (IUBCCI UAE) is set to have its first edition on Wednesday, the 20th of October 2021 and fixes a high objective: to discover and set the new economic trends in the world […]
Hoo makes Middle East debut with Future Blockchain Summit in Dubai
Dubai, United Arab Emirates, 17 October 2021, (AETOSWire): Hoo — the world’s leading blockchain assets service platform made its debut in the region at the Future Blockchain Summit. Founded in 2018 and after 3 years of development, Hoo Group’s business offering entails the entire blockchain ecosystem with over 2.4 million total users covering more than 120 countries and […]
Almarai ranks 4th in Forbes “World’s Best Employers list” in the Middle East
Almarai ranked in the first places in Forbes list of “World Best Employers” in 2021 among 11 companies in the Middle East. Almarai, headquartered in Riyadh, ranked fourth among 11 companies in the Middle East and 316th in the global ranking among 750 multinational companies. “This advanced rank of the company in the list of […]
WHY HIGH STANDARD SERVICES MATTER TO THE DIGITAL TRANSFORMATION OF YOUR COMPANY
Digital transformation journey allows organisations to evaluate everything that a business does from internal systems to customer interactions to improve efficiencies Digital transformation adds value to every interaction and changes the way business gets done. The bottom line is that, when implemented professionally and correctly using the best-in-class tools, a digital transformation journey is guaranteed […]
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SWIFT Go builds momentum as 100+ banks sign up for service that powers SME and consumer payments
China Minsheng Bank, Deutsche Bank and JPMorgan Chase are latest to go live to support small businesses and consumers with fast, secure, predictable cross-border payments Rapid adoption of SWIFT Go since launch in July reinforces SWIFT strategy for instant, frictionless cross-border transactions Brussels, 14 October 2021 – SWIFT today announces that 100 banks around the world […]
Fine Hygienic Holding’s installation of industry leading Gambini line takes its products to the next level and tops US$ 136 million investments in the UAE
Cutting-edge machine increases efficiency of paper products and gives customers more value for money (Dubai, UAE – 14 October, 2021) — Fine Hygienic Holding (FHH), one of the world’s leading wellness groups and manufacturer of hygienic paper products, has reaffirmed its commitment to consumers in the region with the installation of the cutting-edge Gambini line at its Abu Dhabi production […]
Dubai-based tech start-up TERRACEZ to empower data-led enhancement of customer experience for enterprises across the region
A home-grown UAE tech start-up, TERRACEZ, is set to transform the customer experience and business transformation space with their customised audit-identify-digitalise approach, to help enterprises automate and unify data collection and analysis across omnichannel touchpoints, and empower a superior customer experience. October 13th, KSA – Riyadh : TERRACEZ, a dynamic, progressive, and aggressively growing Dubai-based tech start-up, is […]
LG RELEASES PRELIMINARY EARNINGS FOR THIRD-QUARTER 2021
Jeddah, Oct. 12, 2021 — LG Electronics Inc. (LG) today announced its preliminary earnings results for the third quarter of 2021. LG reported tentative consolidated revenues of KRW 18.8 trillion, an increase of 22 percent from the same quarter the previous year and the highest quarterly revenue in the company’s history. In line with current accounting standards, LG will […]
Almarai participates in “Anuga 2021” exhibition in Germany
Almarai participated in Saudi Arabia’s pavilion in “Anuga Expo 2021” held in Cologne in Germany from 9 to 13 October. The participation came as part of “Made in Saudi Arabia” program with 21 other Saudi companies from the food sector. “Almarai’s participation comes from our role as one of the largest food and beverage companies […]
Wa’ed announces a venture capital investment in Saudi-based industrial software company Fathom Solutions
12 October, 2021 — Wa’ed, the entrepreneurship arm of Saudi Aramco, has announced an undisclosed amount of venture capital investment in Fathom Solutions, a global software company driving digital business agility and operational data efficiency in various industrial sectors. The Saudi-based firm, established in 2019 by Ibrahim Al-Baloud, began in the oil and gas industry but has […]
REDTAG announces winners of raffle draw worth half a million Riyals
The Middle East’s leading value fashion and homeware brand, REDTAG, has announced 5,000 lucky winners of its Happiness Card raffle draw, reinforcing its reputation as a brand that excels in delighting shoppers with customer-centric campaigns. October 12th , Jeddah, KSA: REDTAG, the region’s favourite value fashion and homeware brand, has announced the names of 5,000 lucky winners […]
Jadwa REIT Saudi Fund’s Capital Increase Offering 714% Oversubscribed
Riyadh, [12] October 2021: Jadwa Investment, the leading investment management and advisory firm in the Middle East, announced today that it has successfully completed the capital increase offering of Jadwa REIT Saudi Fund. Through this offering, Jadwa is increasing the fund’s total asset value across both in-kind and cash subscriptions by SAR 370 million, or 16.9%, to nearly SAR […]
GoDaddy Partners with Arab Fashion Council to Empower Young Creative Entrepreneurs in Saudi Arabia and MENA
Partnership Coincides with Arab Fashion Week – Women’s, as part of ‘Cat Walk The Walk’ Campaign Jeddah: GoDaddy Inc, (NYSE: GDDY), the company that empowers everyday entrepreneurs around the world, announced today its partnership with Arab Fashion Council (AFC) to empower and inspire designers, makers and all creatives in the Kingdom and MENA region to take […]
Mastercard and Female Fusion collaborate to empower women entrepreneurs at Expo 2020 Dubai
Knowledge-sharing, networking and mentoring events to be held at Expo 2020 Dubai’s Women’s Pavilion October 10 2021, | Riyadh, KSA – Mastercard, the Official Payment Technology Partner of Expo 2020 Dubai, has teamed up with the region’s largest network for women-owned businesses, Female Fusion, to unlock opportunities for women entrepreneurs at the world’s largest cultural gathering. The […]
Siemens Energy inaugurates region’s first one-stop-shop for the energy industry in Dammam, Saudi Arabia
The facility localizes the energy value chain in Saudi Arabia, under one roof The expansion enables Siemens Energy (SE) to increase local content and personnel The facility is now the largest of its kind in the Middle East and Africa Siemens Energy completed the expansion of its hub in Dammam, increasing its local capabilitiesin the energy industry, in line with the Kingdom’s Vision 2030. The facility, which now coverssignificant parts of the energy value chain, is the largest of its kind in the region and is ready tosupport neighboring countries. His Royal Highness Prince Abdulaziz bin Salman bin Abdulaziz Al Saud patronized the inauguration ceremony on Wednesday. “We’re […]
Global Processing Services Continues International Expansion with Launch of MENA Headquarters
The award-winning global payments processor sets up regional hub to promote its innovative offering throughout MENA, led by ex-Majid Al Futtaim payments expert, Arnav Rath, as Head of Region DUBAI, United Arab Emirates–(BUSINESS WIRE/AETOSWire)– Global Processing Services (GPS), the Paytech Pioneer™ behind some of the world’s biggest fintech challengers, today announces that it has officially launched its […]