Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
SWIFT enables customer connectivity using the cloud
SWIFT is expanding options for customers moving to the cloud, announcing today both an initiative to smooth their migration to large public cloud providers such as Microsoft and Google Cloud, as well as the next generation of SWIFT’s own private cloud platform. The announcement was made on the sidelines of Sibos, the annual conference, exhibition […]
PwC Middle East outlines policy recommendations for blockchain implementation in latest whitepaper
It is without question that blockchain has been on the lips of innovators over recent years. The level of interest and investment from technology buffs, venture capital, and established companies alike suggest that the revolutionary technology is here to stay. Launched today, PwC’s latest whitepaper titled “Establishing blockchain policy: strategies for the governance of distributed […]
SWIFT enables payments to be executed in seconds
SWIFT today announces the launch of a new service to deliver global instant payments by integrating gpi, the cross-border payments service with real-time service levels, into domestic instant payments systems around the world. Through a combination of gpi and domestic real-time payments networks, SWIFT, together with gpi banks, will facilitate instant international payments with […]
du and Network International Join Forces to Launch Advanced Payment Solution
As a one-stop-shop for empowering the UAE’s enterprise sector, du, from Emirates Integrated Telecommunications Company (EITC), is enabling small-to-medium businesses to flourish through the launch of an efficient, affordable POS solution. As the UAE transitions to becoming a cashless society by 2020 in line with the Smart Government initiative, merchants are increasingly on the lookout […]
McDonald’s UAE Digitally Transforms to Serve UAE’s USD 9.7 Billion Food Services Market
One of the UAE’s largest quick service restaurants, McDonald’s UAE, has digitally transformed with global technology company SAP to serve the country’s food services market growing to USD 9.7 billion by 2020, and enhance customer experiences, industry experts announced today. According to a recent report from Al Masah Capital, UAE’s booming food services market […]
Meet the Homegrown Venture Creation & Management Firm with a Difference: Millennial Capital
Led by Founder Andreea Danila and powered by a passionate, dedicated and experienced management team and governed by a reputable board of directors– Millennial Capital is the region’s first specialist consumer-focused venture creation and management firm to promote a partnership model which targets international brands looking to enter the GCC. With a growing business portfolio […]
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Under the patronage of His Excellency, the Minister of Interior, the Saudi International Oil Fire Safety Conference OFSAC 2019 Inaugurates Tomorrow
Under the patronage of His Royal Highness Prince Abdulaziz bin Saud bin Nayef bin Abdulaziz, Minister of Interior and Chairman of the High Commission for Industrial Security, the Saudi International Oil Fire Safety Conference (OFSAC 2019( will start on Monday for three days at the Ritz-Carlton in Riyadh. The conference, organized by the High Commission […]
PwC works to unlock the potential of Saudi talent with the launch of new initiative: “Hemam – Developing Future Saudi Leaders”
PwC announced today the launch of Hemam: Developing Future Saudi Leaders, its latest benefits initiative for Saudi nationals. Hemam’s main objective is to retain, attract and develop Saudi talent across the Kingdom and ultimately encourage them to reach leadership positions within the firm. In addition to the various existing development programs (FFtF, My […]
San Juan Mercantile Exchange Now Available Through Deltix CryptoCortex
announced that its CryptoCortex digital asset trading platform is now connected to the San Juan Mercantile Exchange (“SJMX”) Dark Pool. This connection, according to Deltix, will provide cryptocurrency brokers/dealers, OTC desks, market makers and arbitrageurs with unique and world-class trading functionality in connection with submitting and managing their SJMX Dark Pool orders. Deltix has been providing […]
VIP delegation tours Virgin Hyperloop One Pod at World Energy Congress in Abu Dhabi; Panel discussion highlights vision for a connected gulf
H.R.H Prince Abdul Aziz bin Salman Al-Saud, Energy Minister, Kingdom of Saudi Arabia, H.H. Shaikh Hazza bin Zayed Deputy Chairman of the Abu Dhabi Executive Council and H.E. Thamir Abbas Ghadhban, Deputy Prime Minister and Oil Minister of Iraq were briefed by Mr Harj Dhaliwal, Managing Director of Virgin Hyperloop One (VHO), Middle East and […]
Abu Dhabi Fund for Development Launches Abu Dhabi Exports Office
HH Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation and Deputy Chairman of the Board of Directors at Abu Dhabi Fund for Development (ADFD), announced the launch of the Abu Dhabi Exports Office (ADEX). Established by ADFD, ADEX aims to support the national economy and enhance its competitiveness through the […]
FVC to lead with Enterprise Collaboration at Gitex 2019
FVC, a leading value-added-distributor (VAD) in the Middle East and Africa, has announced its participation at Gitex 2019. With a focus on enabling organizations’ digital transformation journey, FVC will demonstrate the strength of its comprehensive enterprise collaboration vendor portfolio, in addition to highlighting its Audio-Video, IT Infrastructure and IT Security portfolio. “The uptake of enterprise […]
Infor sets sight on digital supply chain at Warehouse Tech Middle East
Infor, a global leader in business cloud software specialized by industry, has reaffirmed its participation at Warehouse Tech Middle East that is set to take place on September 9, 2019. Serving as a gold sponsor for the conference, Infor will showcase the latest developments within its digital supply chain portfolio, along with its capabilities in […]
SWIFT leads the industry on Open Banking with library of API standards
SWIFT today publishes a new API standard for the Pre-authorisation of funds, paving the way for further innovation in financial services enabled by open banking. The new standard allows a payer’s bank to earmark funds for a purchase in advance, guaranteeing that the future payment will be honoured. It is the second of SWIFT’s […]
Trends Every Growing Small Business Needs to Know
Great news for any small business looking to get ahead: Salesforce Research has just released the Third Edition Small & Medium Business Trends Report, sharing data and observations from more than 2,000 small and medium business (SMB) owners and leaders from around the world. The research report digs into the challenges and goals of SMB executives, analyzes how demographics […]
SOUQ.com Introduces Same Day Delivery Service
Today SOUQ.com has taken a step forward for e-commerce in the Kingdom by introducing a same day delivery service. Becoming the first e-commerce company in the Kingdom to offer such a service, SOUQ.com will now provide customers with same day delivery for “Fulfilled by Souq” (FBS) products in both Riyadh and Jeddah. Commenting […]
Senior Partner for Top Global Management Consulting Firm Offers Inspiring Approach to Economic Development in the Middle East
Many challenges face the Middle East in terms of economic development, but one business executive is inspiring others in the region. Mohammed Alsherebi—a Saudi Arabian business magnate, investor, and philanthropist who also serves as a senior partner and external director for a leading global management consulting firm—is preparing to launch a new ecosystem to facilitate […]
SOUQ.com Back to School Buys That Won’t Break the Bank
Summer break is officially over and it’s that time of the year again – school supplies need restocking; new bags need to be purchased and your little one is gearing up for the next chapter of their schooling life. In case you still need to do your school shopping, SOUQ.com is here to provide […]
Wipro, Google Cloud Expand Partnership to Accelerate Digital Transformation for Enterprises
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting and business process services company, today announced the expansion of its strategic partnership with Google Cloud to accelerate cloud adoption and digital transformation for global enterprises. By collaborating with Google Cloud, Wipro will catalyse innovation for enterprises in industry verticals such […]
EQUITATIVA LOOKING AT DEPLOYING OVER 200 MILLION AED IN REAL ESTATE ACQUISITIONS FOR EMIRATES REIT
Equitativa (Dubai) Limited (“Equitativa”), the largest REIT manager in the GCC and manager of Emirates REIT (CEIC) PLC (“Emirates REIT” or the “REIT”), today said that it is looking at investing up to AED 200 million in new real estate acquisitions in several sectors for Emirates REIT by early next year. The announcement comes […]
IGI Reports Rising GWP and Growth in Key Lines of Business in Half-Year 2019 Results
International General Insurance Holdings Limited today reported earnings for the first half of 2019. IGI reported a net profit of $13.75 million for the first six months of 2019, compared to $11.02 million last year, and a 12.2% rise in gross written premiums from $165.87 million in June 2018 to $186.12 million in June 2019. […]
Hong Kong Trade Fairs in Fall 2019 Strengthening bilateral trade between Hong Kong and the UAE
Hong Kong and the United Arab Emirates (UAE) have enjoyed robust bilateral trade relations on a range of products and services over the years. Adding to the Hong Kong’s business advantages, Hong Kong Trade Development Council (HKTDC) gathers the latest market intelligence and form partnerships to develop business for corporations. The HKTDC organises more than […]