Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
SFM introduces companion app for registered business owners
Users now can enjoy secure and seamless access to their companies’ information through the new app 15 August 2021, Dubai, UAE: SFM Corporate Services has launched a secure, feature-rich, and user-friendly mobile companion app “SFM MY Company” for customers of its company registration services. It enables investors who have registered a new company through SFM to […]
“Tayebat” electronic platform launched at Unaizah Dates Season
Unaizah: Tayebat Electronic Platform has officially kicked off its operations in conjunction with the launch of the Unaizah Dates Season 2021 under the slogan (Entrepreneurship and Online Shopping). The platform offers marketplace for buying and sales services through an electronic auction or at a predetermined price in addition to quality management services for dates producers […]
Women entrepreneurs lead the way in digital presence, according to Mastercard SME research in Middle East and Africa
81% of women entrepreneurs across the Middle East and Africa have a digital business presence according to Mastercard MEA SME Confidence Index Latest research by Mastercard highlights high digitalization among women-owned businesses as opportunity for broader SME recovery and digital economy growth August 11, 2021, | Riyadh, KSA: Despite the gender gap and social challenges, entrepreneurial […]
Emplifi Reveals Global Ad Spend Up 50% on Facebook and Instagram in Q2
The continued growth in social media ad spends points to more than a simple “bounce back” from the pandemic, according to Emplifi. The unified CX platform’s data findings highlight how brands are increasing their investment in social platforms to improve customer experiences and drive social commerce. Dubai, UAE, August 2021 – Emplifi, the leading unified customer experience platform, […]
Backbase expands commitment to KSA with new center and appointment of new senior leadership
● Backbase’s new regional office opens at the Kingdom Centre, Hugayat Tower, Riyadh, Kingdom of Saudi Arabia ● Ahmad Guandour is the first new hire for the Backbase leadership team and joins as Director of Sales Middle East and is based in Riyadh. ● The announcements highlight Backbase’s commitment to KSA with the acceleration of investment that aims […]
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Huawei climbs rankings on The Fortune Global 500 despite US government sanctions
The Fortune Global 500, the annual ranking of the top 500 enterprises worldwide as measured by business revenue, ranked Huawei 44 this year, up from 49 in the previous year, despite US government sanctions on the company. The number of Chinese companies, including those from the Hong Kong Special Administrative Region (SAR) and the island of […]
SADAFCO announces opening of new ice cream factory in Saudi Arabia
Jeddah, Kingdom of Saudi Arabia, 09 August 2021: As part of its ambitious expansion plans in the Kingdom of Saudi Arabia, Saudia Dairy and Foodstuff Company (SADAFCO) announced the opening of a new ice cream factory in Modon Industrial City No.1, Jeddah. The new ice cream factory, combined with the existing SADAFCO milk factory, covers an […]
Saudi Payments: POS transactions hit 227 billion riyals during H1 2021
Saudi Payments operates under the supervision of the Central Bank of Saudi Arabia (SAMA), revealed achieving more than 2.2 billion Point of Sale (POS) transactions, valued at over 227 billion riyals during H1 of 2021. According to results from the national payment scheme “mada”, near-field communication (NFC) payment transactions registered a record increase of 147% compared to H1 […]
Three Waves of Transforming Technology Costs
As companies deploy new technologies, including automation, AI, cloud hosting, service platforms, and others to make their businesses more digital and efficient, all businesses are becoming technology businesses. In a post-COVID environment, natural forces are accelerating this dynamic and the need to digitize and virtualize. This expansion from physical into digital means that many functions […]
EDGE Group to showcase acceleration of defence technology at Dubai Airshow 2021
Dubai Airshow announces EDGE Group as Defence Technology Partner Advisory Board member of Dubai Airshow 2021 – EDGE Group to support ‘Make it in the Emirates’ campaign during the event DUBAI, United Arab Emirates – 09 August 2021: EDGE Group, the UAE’s advanced technology group for defense and beyond, will have a major presence at […]
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JADWA ANNOUNCES MULTI-MANAGER FUNDS PLATFORM
Riyadh – Saudi Arabia: 8 August 2021: Jadwa Investment, a leading investment management and advisory firm in the Middle East, announced today the full activation of its multi-manager funds platform. The new Shariah-compliant offering comes as part of Jadwa’s ongoing commitment to expanding its clients’ access to new asset classes. The first three funds—covering developed market […]
Huawei Releases 2021 H1 Business Results
Riyadh, August 8, 2021: Huawei released its business results for the first half of 2021. Its overall performance was in line with the forecast. In H1, Huawei generated USD 49.62 billion in revenue, with its net profit margin reaching 9.8%[1]. Carrier business revenue: USD 21.2 billion Enterprise business revenue: USD 6.64 billion Consumer business revenue: USD 21.01 […]
Fintech Saudi Announces the Results of National Fintech Adoption Survey
Riyadh, KSA, August 4, 2021: Setting a precedent in the Kingdom and the region in its new report, Fintech Saudi has announced the results of the National Fintech Adoption Survey which is aimed to measure the level of the people’s interest in adopting fintech solutions and to develop a clear understanding of how the fintech industry […]
Huawei climbs rankings on The Fortune Global 500 despite US government sanctions
The Fortune Global 500, the annual ranking of the top 500 enterprises worldwide as measured by business revenue, ranked Huawei 44 this year, up from 49 in the previous year, despite US government sanctions on the company. The number of Chinese companies, including those from the Hong Kong Special Administrative Region (SAR) and the island of […]
yellow.ai Raises $78.15M to Deliver Total Customer Experience Automation
WestBridge Capital, Sapphire Ventures, Salesforce Ventures, and Lightspeed Venture Partners Join the Series C Round as yellow.ai surpasses 700+ global enterprise customers. yellow.ai is pioneering Customer Experience automation for some of the largest brands in the Middle East like Carrefour, Kuwait Food Company (Americana), Choithrams, Amouage Oman, Arabian Radio Network, insureatoasis August 4, 2021 – yellow.ai, the world’s leading customer experience […]
The Right Talent is Key to Outperform Competitors
By Tom De Waele, Managing Partner, Bain & Company Middle East Companies retooling for today’s changing world worry about successfully recruiting and retaining the right talent. Close to 75% of executives surveyed by Bain & Company expect that the skills and capabilities required for their businesses to succeed will change over the next 5 to 10 […]
Great Data Disconnect: Gulf workers take the lead as the most data-skilled but least utilised by employers
Despite data workers, specifically in the UAE and KSA, possessing advanced and valuable data skills, businesses are failing to take advantage of this untapped resource KSA — 3 August 2021 — Alteryx, Inc. (NYSE: AYX), the analytics automation company, today highlights a critical imbalance between the advanced skill levels that data workers possess and the utilization of these talents within […]
The Lab Holding, a new DIFC based hospitality group, announces the launch of two new tech food startups
Dubai, UAE (03.08.21) The Lab Holding, a new DIFC based hospitality group inception for the inception of 3Fils, Brix, Kanji, Stranger Wings, and Hoa Poke, today announces the launch of two new Food-tech startups via its startup studio. Debuting with robust industry expertise, The Lab Holding plans to serve an ecosystem of Hospitality and food technology […]
AVEVA Signs Up to Race to Zero the Largest Ever Alliance Committed to Achieving Net Zero Carbon Emissions by 2050
Industrial Software Leader Joins United Nations Climate Change Global Campaign to Unlock Inclusive, Sustainable Growth London, United Kingdom, 2nd August 2021 – AVEVA, a global leader in industrial software, driving digital transformation and sustainability, today announced that it has become the 47th company in the FTSE 100 to join the United Nation’s Race to Zero campaign. “By joining the Race to […]
Noon.com launches online gift cards ahead of back to school shopping bonanza
Customers can buy gift cards, powered by noon pay, for use in a wide variety of ways including noon.com purchases & utility bill payments Riyadh, KSA. 1st August 2021: noon.com, the region’s homegrown digital marketplace, and Saudi e-tailer, has launched prepaid gift cards, powered by noon pay, giving shoppers across the Kingdom the perfect gifting option […]
Mastercard marks year of collective action in annual Sustainability Report
Outlines progress towards an inclusive, sustainable future for people and the planet July 29 2021, | Riyadh, KSA –Mastercard released its 2020 Corporate Sustainability report, highlighting how the company has responded to the challenges of the last year through innovation and trusted partnerships and is delivering on its mission to build a more inclusive, sustainable world with […]
Wa’ed Selects HES FinTech as Software Vendor
DHAHRAN, Saudi Arabia–(BUSINESS WIRE/AETOSWire)– Wa’ed, the entrepreneurship arm of Aramco, has signed a contract with HES FinTech lending software provider to automate financial operations at the company. About the project Wa’ed is an entrepreneurial support center, providing end-to-end assistance to boost Saudi-based start-ups, including mentoring, incubation, loan financing, and venture capital investment. In addition to incubation and mentoring, […]