Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
Hisense Super Brand Week – Get ready for the big game!
Hisense commences its first edition of global e-commerce exclusive sales promotion under the name “Hisense Super Brand Week” starting 26 May – 2 June 2021, where its products will be available on various UAE ecommerce platforms. The Hisense Super Brand Week is based on Hisense’s global Euro sponsorship concept which is “Your Home, Your Stadium” […]
Fiscal Year 2020/2021 Proves Transformational for AVEVA Despite Pandemic Challenges
Global Industrial Software and Data Management Leader Delivers A Strong Business Performance with further Opportunities Ahead Dubai, UAE, May 25, 2021 – AVEVA, a global leader in industrial software driving digital transformation and sustainability, announced its results for the year ended 31 March 2021 (FY21). The results showed that AVEVA had made strategic, financial, and operational progress in the […]
Avaya Reports Second Quarter Fiscal 2021 Financial Results
Total revenue increased 8% year-over-year to $738 million Avaya OneCloudTM ARR increased 31% sequentially to $344 million Raising Revenue, OneCloud ARR, CAPS and Adj. EBITDA Guidance for Fiscal 2021 Cloud, Alliance Partner & Subscription grew to 40% of revenue Dubai, UAE, – May 9, 2021 – Avaya Holdings Corp. (NYSE: AVYA) today reported financial results […]
Mastercard welcomes NEC Payments as a Global Partner of Fintech Express
Saudi Arabia – 24 May 2021: Mastercard has announced that the Bahrain-based NEC Payments is now a global partner of Mastercard Fintech Express, which connects tech-savvy startups with traditional players such as banks. The program supports digital payment innovators by making it simple to collaborate with the tech company and its partners to launch new […]
UAE’s Evolvin’ Women announces first financial institutional support from ZANACO
ZAMBIA NATIONAL COMMERCIAL BANK WILL PROVIDE LAPTOPS AND SCHOLARSHIPS FOR EVOLVIN’ WOMEN PARTICIPANTS Dubai, UAE, May 24th 2021 – Evolvin’ Women, a ground-breaking UAE-led initiative that promotes the advancement of women in Africa’s underprivileged rural communities, has secured its first financial institutional support from Zambia National Commercial Bank (ZANACO) to empower its participants. A Dubai-based […]
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Mobile Contactless Payment Market to Surge by 24% to $2.5 Trillion in 2021
Demand for mobile contactless payment options has been on a steep uptrend in recent years, gaining additional impetus from the pandemic in 2020. The space is expected to maintain its robust momentum through 2021 and beyond. According to the research data analyzed and published by ComprarAcciones.com, the market hit a benchmark of $2 trillion in transaction […]
Citi appoints Ebru Pakcan as Head of the EMEA Emerging Markets Cluster
Dubai, UAE– Citi is pleased to announce the appointment of Ebru Pakcan as Head of the EMEA Emerging Markets Cluster, effective immediately. Ebru is a proven leader and has held several global and regional roles within the Treasury and Trade Solutions business. Most recently, she was the Global Head of Trade, responsible for facilitating financing and intermediary services […]
What the Knowledge Worker of 2030 will do
Immersive screens, virtual desktops and AI assistants will boost the next wave of end-users By: Andrew Brinded, Senior Vice President EMEA Sales, Nutanix To understand what end-user computing may look like in 2030, first think about how you work today and consider how you worked 10, 20, 30 years ago. And if you’re lucky enough […]
Citi Appoints Wassim Al-Khatib as Citi Saudi Arabia CEO
Riyadh, Saudi Arabia – Citi today announced the appointment of Wassim Al-Khatib as Citi Saudi Arabia (CSA) Chief Executive Officer,subject to approval by the Saudi Arabian Capital Market Authority (CMA). In this capacity, Wassim will be responsible for Citi’s regulated business in Saudi Arabia and for coordinating the overall delivery to clients in the country, reporting to […]
Lucid Motors to list on NASDAQ as “LCID” after merger
Today, Lucid Motors announced that when the merger with Churchill Capital Corp IV (CCIV) is complete the new company will be listed on the NASDAQ exchange under the symbol LCID. Lucid announced in February a business combination with CCIV, a publicly traded special purpose acquisition company, or SPAC, that was publicly listed on NYSE. The […]
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Bloomberg & Re:Coded collaborate to support the advancement of youth in the Middle East
Women comprise over half of mentees Over 240 young people across the Middle East already stand a better chance of building a sustainable career in the digital economy thanks to a recent partnership between Bloomberg and Re:Coded, a US non-profit working to bridge the region’s digital divide. Since July 2020, Bloomberg employees have been working […]
GCC INVESTORS NEED TO LOOK WIDER FOR GROWTH OPPORTUNITIES
Expectations of a relatively slow economic rebound are driving diversification strategies across the GCC, offering investors some less traditional routes to potential returns. Abu Dhabi, 18 May 2021: Modest 2021 recovery forecasts for the GCC have increased the focus on diversification from the hydrocarbon sector, potentially opening up some less traditional growth opportunities, according to […]
EY: 70% of MENA consumers believe brands have a responsibility to positively impact the world
57% of MENA consumers will prioritize the environment and climate change in how they live and the products they buy 77% of MENA consumers are prepared to share personal data for healthier product recommendations 58% of MENA consumers say price will drive their purchasing choices three years from now Saudi Arabia – 17 May 2021: […]
Mitsubishi Power Achieves #1 Market Share Globally in the First Quarter of 2021 According to McCoy Power Report
♦ No. 1 in the global gas turbine market with a 29.0% share ♦ 40.8% share of the heavy-duty gas turbine market YOKOHAMA, JAPAN (May 17, 2021) – Mitsubishi Power, a subsidiary of Mitsubishi Heavy Industries (MHI) Group, captured the top market share by megawatts in the first quarter of 2021 with a global gas turbine market […]
Climate Change Tops the Agenda for Institutional Investors in 2021
Institutional Investors Highlight the Growing Importance of ESG in Investment and Proxy Voting Decisions in a New Morrow Sodali Survey LONDON–(BUSINESS WIRE/AETOSWire)– When institutional investors with USD 29 trillion in assets under management were asked what issue was most likely to prompt them to engage with company boards, climate change topped the agenda. This is […]
TiE to shine the Flame of entrepreneurship with its Global Summit in Dubai
Summit to attract over 2000 entrepreneurs from over 25 countries, investors, thought leaders and policymakers KSA – 17 May 2021 –The Dubai chapter of The Indus Entrepreneurs (TiE) announced that it will host the largest ever TiE Global Summit (TGS2021) for the first time in the UAE in December 2021. A total of over 2000 entrepreneurs, […]
Herman Miller Launches Post-Pandemic Office Collection
OE1 Workspace Collection Activates Agility and Modularity to Design Offices Fit for the Future UAE: May 16th, 2021: COVID-19 may not have made any 2020 prediction lists, but it certainly is leaving an impression on how companies and individuals will work in the future. With vaccines rolling out globally, infection rates dropping, and local governments beginning to […]
SWIFT and Accenture publish joint paper on central bank digital currencies in cross-border payments
New report discusses opportunities and challenges of CBDCs for international payments Sets out practical requirements for adoption of digital currency at scale Outlines how SWIFT can support the financial community as new solutions are developed Dubai, 16 May 2021 – SWIFT and Accenture today published a paper on central bank digital currencies (CBDCs) in cross-border payments as part […]
What’s REALLY behind Musk’s Bitcoin u-turn?
Elon Musk’s sudden u-turn regarding Bitcoin on Twitter – which sent prices plummeting by 15% – could be more of a PR stunt than anything else, says the CEO of one of the world’s largest independent financial and fintech organizations. The observation from Nigel Green, deVere Group’s chief executive, comes as the Tesla billionaire boss […]
Smartphone Games Account For Nearly Half Of Global Gaming Market In 2020 – $75B
The smartphones of today have become more powerful and technologically advanced than ever before, becoming an exciting new platform for different types of software such as games. According to data presented by 123scommesse, smartphone games generated $74.9M in 2020 – a 43% share of the global gaming market. Smartphones Biggest Source Of Revenue – 43% Of […]
Urgency for Industrial Transformation Takes Center Stage at Global Ignite Talks 2021: September 21-23
As industry races to meet 2050 net-zero goals, this global conference will elevate conversations on the role of data driven technologies and innovations. Ignite News media platform launches alongside Ignite Talks to deepen industry coverage and dialogue around transformation. OSLO, Norway & AUSTIN, Texas–(BUSINESS WIRE/AETOSWire)– Cognite, a leader in industrial innovation, will host its fourth annual […]
Mastercard New Payments Index: Consumer Appetite in Saudi Arabia for Digital Payments Takes Off
94% of consumers in Saudi Arabia are considering emerging payments such as biometrics, digital wallets, transfers, and currencies, and QR code, in addition to Contactless, according to the Mastercard New Payments Index 92% of consumers in Saudi Arabia have access to more ways to pay compared to this time last year 3 out of 4 […]