Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
The Future is Flexible: Employees want greater ownership and choice in the new world of work
Remote working during the pandemic has challenged society’s cultural norms around the workplace 87% of office workers want the ability to choose whether to work from home or office, and manage their hours, even when offices open up 63% want to maintain the autonomy they experienced during the pandemic lockdown Experiencing better balance of life […]
AMAZON.SA REVEALS 11.11 SALE DEALS FOR SAUDI ARABIA
The 11.11 sale kicks off at midnight on November 10th and runs until November 12th across more than 30 product categories including electronics, home and kitchen, grocery and fashion Customers on Amazon.sa can also shop Amazon US deals during 11.11, while enjoying free international shipping on orders over SAR 200 Customers will enjoy thousands deals and savings […]
Emirates NBD strengthens Customer Intelligence with SAS
Dubai, UAE; 08 November 2020: Emirates NBD, a leading banking group in the Middle East, North Africa, Turkey (MENAT) region serving more than 14 million customers in 13 countries, has invested in advanced analytics to empower its Customer Intelligence & Engagement (CIE) team. The team is tasked with integrating data across all systems and applications, creating […]
Hikma continues strong 2020 performance and updates full year guidance
Amman, Jordan, 5 November 2020, (AETOSWire) – Hikma Pharmaceuticals PLC (Hikma, Group), the multinational pharmaceutical group, today provides an update on current trading. Siggi Olafsson, Hikma’s CEO, said: “Hikma is performing well, maintaining the positive momentum of the first half. The breadth of our portfolio, the flexibility of our manufacturing capabilities and the strength of our commercial and […]
Arab Monetary Fund Selects Refinitiv as Compliance Provider for Buna
Arab Monetary Fund Selects Refinitiv as Compliance Provider for Buna, the First cross-border Payment System in the Arab Region UNITED ARAB EMIRATES – Refinitiv and the Arab Monetary Fund (AMF) today announced the adoption of World-Check as the preferred anti-money laundering data for “Buna”, the first cross-border payment system in the Arab Region launched by AMF earlier […]
“Zain KSA” scores SAR 224 million net profit
Zain KSA has maintained its stellar financial performance for the 9th consecutive quarter, posting net profits of SAR 224 million during the first nine months of the year. The company’s revenue grew to SAR 1,928 million in Q3 2020, up from SAR 1,889 million in Q2 2020 represented by 2% increase. Accumulated losses continued to drop […]
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LENOVO DELIVERS RECORD RESULTS, FUELED BY STRONG Q2 GROWTH ACROSS ALL BUSINESS GROUPS
Kingdom of Saudi Arabia, November 03, 2020 – Lenovo Group (HKSE: 992) (ADR: LNVGY) today announced record Group revenue in the second quarter of US$14.5 billion, up 7% year-on-year and with all businesses showing strong growth. Profit showed even stronger growth, with record pre-tax income of US$470 million, up 52% compared to the same quarter a year earlier, […]
Cisco Unveils Simplified Partner Program, New Platforms and Solutions at Partner Summit 2020
Riyadh, KSA, November 02, 2020: Cisco’s 25th annual Partner Summit kicked off virtually last week with nearly 13,000 partners in attendance representing 157 countries. Sessions and announcements focuse on being “Future Ready”, providing partners with the latest business and technology insights needed to help them and their customers achieve new levels of business agility and resilience.. This […]
OTO EXPANDS ITS SERVICES TO SIX COUNTRIES AND IS SET TO REVOLUTIONIZE THE LAST MILE DELIVERY SERVICE FOR BRICK-AND-MORTAR RETAILERS IN THE MENA
Mega Retailers and Leading Delivery Companies expedite orders promptly via OTO’s Proprietary Technology and are expanding their loyal customer base MENA: 02 November 2020: OTO, a Software-as-a-Service (SaaS) startup which supports brick-and-mortar retailers to ship their online orders directly from their physical stores to the customers in less than 2 hours, has announced today that the […]
Moro Hub launches the region’s first solar-powered Green Data Centre at WETEX 2020
Dubai, UAE, 28th October 2020: Moro Hub (Data Hub Integrated Solutions LLC), a wholly-owned subsidiary of Dubai Electricity and Water Authority (DEWA) announced the launch of the Middle East’s first certified Tier-III Green Data Centre on 28th October at the virtual edition of The Water, Energy, Technology, and Environment Exhibition (WETEX), the first-ever Carbon Neutral 3D exhibition in the MENA region […]
Samsung Electronics Becomes Top Five in Interbrand’s Best Global Brands 2020
Samsung Electronics announced today that it has become number five in the Best Global Brands 2020 list announced by Interbrand, a global brand consulting company, with its largest-ever brand value of USD 62.3 billion. Despite the challenging business environment brought on global companies by COVID-19 in 2020, Samsung saw a 2% rise in brand value […]
Huawei Announces Q3 2020 Business Results
Riyadh, Saudi Arabia 26 October 2020 – Huawei announced its business results for the first three quarters of 2020. During this period, Huawei generated CNY671.3 billion in revenue, an increase of 9.9% over the same period last year. The company’s net profit margin in this period was 8.0%.[1] Throughout the first three quarters of 2020, […]
HUAWEI now offers safe and contactless digital payment options with the launch ofMondia Pay on HMS in the MEA Region
Huawei, in cooperation with digital payment entity, Mondia Pay, now offers Direct Carrier Billing service (DCB), for seamless, contactless payments for users in the MEA region through HUAWEI Mobile Services (HMS). Mondia Pay is a leader in the digital payment space and provides a simple, fast and secure way for consumers to pay for services […]
Huawei: Creating New Value with Synergy Across Five Tech Domains
[Shanghai, China, September 23, 2020] HUAWEI CONNECT 2020 opened today in Shanghai. HUAWEI CONNECT is an annual flagship event hosted by Huawei for the global ICT industry. It is a platform where Huawei discloses its major strategies. In 2016, Huawei envisioned an intelligent world and called upon its partners worldwide to build a diverse and thriving […]
Latest disclosure shows HSBC ‘accomplice’ of U.S. political scheme against Meng Wanzhou
The lawyers of Meng Wanzhou, CFO of Chinese telecom giant Huawei, accused the U.S. authorities of misleading the Canadian court overseeing the Huawei chief financial officer’s extradition hearing, referring to new court filings released on Thursday. Meng’s lawyers submitted content omitted in the U.S. records of the case, as well as emails between Huawei and […]
Apple One makes enjoying Apple subscription services easier than ever
Apple One offers customers Apple Music, Apple TV+, Apple Arcade, iCloud, and more services in one simple plan Cupertino, California — Apple today announced Apple One, the easiest way to get all of Apple’s subscription services in one simple plan, including Apple Music, Apple TV+, Apple Arcade, Apple News+, Apple Fitness+, and iCloud. With a single […]
A strategic partnership between HUAWEI and TPAY MOBILE to drive App monetization for developers in the MEA region
Huawei is cooperating with fintech company, TPAY MOBILE to make it easier and more convenient for developers in the Middle East and Africa (MEA) region to monetise their apps on HUAWEI Mobile Services (HMS). The first phase of the agreement will offer DCB services in 10 countries across MEA region, including all mobile subscribers. Huawei […]
Mitsubishi Power Established with Renewed Commitment to Transforming Energy Systems Around the World
– Mitsubishi Power, a major subsidiary of the Mitsubishi Heavy Industries (MHI) Group, officially changed its corporate name from Mitsubishi Hitachi Power Systems today. The rebrand marks the start of an exciting new chapter in the company’s mission to solve the foremost energy challenges of our time, including decarbonizing energy and bringing reliable power to […]
Fortinet Moves to a New Office in Riyadh, Saudi Arabia
Fortinet a global leader in broad, integrated and automated cybersecurity solutions, moved to larger office in Riyadh to better address customers’ needs and leverage the area’s diverse high-technology talent pool. The company moved from Riyadh – Business Gate C7 to the new tower in Business Gate C2. The new office space is approximately 2500 […]
Ford Announces Jim Hackett to Retire as President and CEO; Jim Farley to Succeed Hackett as Company Continues Transformation
Ford Motor Company today announced that Jim Hackett, who has led the company’s transformation since 2017, plans to retire from the company. Jim Farley has been named the company’s new president and CEO and will join the board of directors, effective Oct. 1. Hackett, 65, and Farley, 58, will work together on a smooth […]
Lenovo™ Launching New Global Partner Hub, Providing Personalized, Real-time Sales Tool Transformation
The new Lenovo Partner Hub marks an important step in the company-wide multi-year digital transformation program for business partners. Lenovo Partner Hub – launching in select geographical markets starting July 27 – reaffirms Lenovo’s commitment in fostering greater collaboration between business channel partners and Lenovo sales teams across business groups. Powered by advanced analytics, the […]
Wipro to acquire 4C, a leading Salesforce multi-cloud partner in Europe and the Middle East, with deep Quote-to-Cash expertise
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting and business process services company, today announced that it has signed a definitive agreement to acquire 4C, one of the largest Salesforce partners in UK, Europe and the Middle East. Established in 1997 with its headquarters in Mechelen, Belgium, 4C is […]