Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
CallisonRTKL unveils five key trends in building net-zero cities in the MENA region
Focus on material use, cooling systems, and cross-industry collaboration is central for the design firm Dubai, UAE – 9 May 2021: Industry experts from CallisonRTKL (CRTKL), the global architecture, planning and design firm, have revealed five key trends for the development of net-zero cities in the Middle East and North Africa region. Experts highlight the need […]
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 6, 2021 – Avaya Holdings Corp. (NYSE: AVYA) today reported financial results for the second […]
INNOVATION EARMARKED FOR KEY ROLE IN DRIVING DOWNSTREAM GROWTH
Gulf Petrochemicals and Chemicals Association and Oxford Business Group to team up for new Covid-19 Response Report Dubai, UAE, May 2021: A new Covid-19 Response Report (CRR), produced by Oxford Business Group (OBG) in partnership with the Gulf Petrochemicals and Chemicals Association (GPCA), will explore the key role that innovation is set to play in adding […]
Zain KSA sees 14% profit growth
The company continues to maintain its profitability for the eleventh consecutive quarter Accumulated losses drop to SAR 13 million Riyadh, May 6, 2021 Zain KSA has recorded revenues of about SAR 1,938 million and achieved net profit of SAR 41 million for the first quarter of 2021, a 14% growth as compared to the fourth quarter of 2020. Zain KSA […]
Protiviti and regional Internal Auditors Associations evaluate pandemic’s impact on the overall risk landscape
Urge Internal Auditors to work closely with Board and Audit Committees as a strategic partner in addressing cybersecurity, privacy, and other priorities KSA; 9 May 2021: As Audit Committees continue to face crowded agendas and increasing complexity in 2021, Protiviti Member Firm for the Middle East Region and prominent regional chapters of Internal Auditors Associations – […]
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Saudi Startup Retailo Concludes Seed Round, Secures $9 million Total Investments Within 9 Months Of Operations
· Largest seed round for a Saudi start-up · Led by Shorooq Partners and Abercross Holdings, joined by AgFunder, and Arzan Venture Capital Riyadh, Saudi Arabia, May 6, 2021 – Only nine months into operations, Retailo has successfully closed a $6.7 million seed investment round, the largest seed capital raised by a Saudi startup. This brings […]
2021 Bloomberg New Economy Forum to Convene Global Leaders In-Person in Singapore November 16-19
Michael R. Bloomberg to host fourth annual forum focused on advancing world’s greatest economic opportunities amidst Covid-19 recovery, from East to West and across the developing world First-ever “Bloomberg New Economy Catalyst” virtual event welcomes a new wave of world-shifting visionaries on June 30 The 2021 forum is presented in partnership with ADNOC Riyadh, Saudi […]
Saudi Arabia’s Basamh Digitally Transforms to Drive GCC’s USD 253 Billion Retail Market
Basamh Gains Real-Time Decision-Making in FMCG with SAP Solutions RIYADH, Kingdom of Saudi Arabia — 6 May 2021— Basamh Trading and Industries Group, one of Saudi Arabia’s most successful purpose-led fast-moving consumer goods (FMCG) businesses in in the Middle East and Africa, announced today its digital transformation is driving the GCC’s USD 253 billion retail market. […]
Acronis, the global leader in cyber protection, receives more than $250M investment at a $2.5B valuation
Funding to accelerate growth, expand its portfolio of cyber protection products, and enable service providers to serve their clients better Dubai, United Arab Emirates, 04 May 2021, (AETOSWire) – Acronis, the global leader in cyber protection, is pleased to announce that it has received more than $250 million funding round from CVC Capital Partners VII and other investors. Acronis will use the […]
ACWA Power expands its presence in Central Asia with largest single-site wind farm in the region
In the presence of HRH Minister of Energy and Uzbekistan’s Deputy Prime Minister: Implementation agreement for 1500 MW wind farm signed with Uzbekistan’s Ministry of Investments & Foreign Trade, and Ministry of Energy Riyadh, Saudi Arabia, 4 May 2021: In the presence of His Royal Highness Prince Abdulaziz bin Salman, Saudi Minister of Energy, and His […]
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Great Place to Work survey ranks TAWAL as the 13th best company to work for in Saudi Arabia.
TAWAL ranked as one of Saudi Arabia’s best companies to work for following Great Place to Work research. Saudi Arabia, 04 May 2021: TAWAL has been ranked as one of the top companies to work for in Saudi Arabia by the Trust Index Survey of Great Place to Work. The Human Resources consultancy, which has […]
SADAFCO Reinforces Commitment to Sustainable Practice with “Towards Sustainability” Strategy
Jeddah, Kingdom of Saudi Arabia, 02 May 2021: Saudia Dairy and Foodstuff Company (SADAFCO) reinforces their commitment to operate sustainably through their “Towards Sustainability” strategy. The implementation of the company-wide effort to reduce carbon footprint, energy use, water consumption and food wastage is the latest in a series of initiatives supporting the company-wide strategy to operate […]
GoDaddy shares tips on how to start an online business
As Saudi Arabia ramps up its support for digital transformation of business and e-commerce, GoDaddy Inc. (NYSE: GDDY), the company that empowers everyday entrepreneurs around the world, offered a number of tips to help entrepreneurs start an online business. Selina Bieber, Senior Regional Director for Turkey and MENA Region, GoDaddy said, “GoDaddy supports Saudi Arabia’s ‘2030 Vision’, with the goal […]
Mohammed Ali Khan Joins Bloom Energy as Senior Director, International Business
SAN JOSE, Calif.–(BUSINESS WIRE/AETOSWire)– Bloom Energy, a leading provider of distributed energy solutions, today announced the appointment of Mohammed Ali Khan to its international leadership team to further strengthen the company’s expansion efforts, enhance competitive positioning and support deployment of its fuel-flexible, clean energy technology. Ali Khan assumes the role of senior director, international business, […]
BANK OF AFRICA selects Conpend TRADE AI app, via Finastra, to digitize trade processes
Conpend’s TRADE AI app will help reduce risk and speed up trade finance transactions Dubai, UAE – April 28, 2021 – Finastra has announced BANK OF AFRICA, a pan-African financial group, has selected Conpend’s TRADE AI app from its open innovation platform, FusionFabric.cloud. The app extends the functionality of Finastra’s Fusion Trade Innovation technology and enables users to reduce document and […]
Samsung Electronics Wins 71 iF Design Awards
The Company recognized for design excellence that elevate consumer lifestyles from product to service design Riyadh, Saudi Arabia – April 28, 2021 – Samsung Electronics Co., Ltd. today announced that it has received a record high of 71 awards at the world-renowned International Forum (iF) Design Award 2021. Samsung won two Gold Awards as part of […]
Ajman Bank Enters into a Strategic Agreement with Saudi German Hospitals Group
The Hospital to offer special discounts on medical services to all uninsured family members of Ajman Bank employees Ajman Bank has signed a strategic agreement with Saudi German Hospitals (SGH) Group that will benefit the uninsured family members of the Bank’s employees by availing special discounts on medical services. Present at the signing ceremony to […]
Wa’ed, Falak Investment Hub agree to collaborate on venture capital deals to fund more Saudi start-ups
April 28, 2021 – Wa’ed, the entrepreneurship arm of Aramco, agreed to collaborate with Falak Investment Hub, a start-up investor led by one of Saudi Arabia’s most influential women entrepreneurs, to drive venture capital investment in the Kingdom. A memorandum of understanding was signed at Wa’ed’s headquarters in Dhahran by Adwa Aldakheel, Founder and Chief Executive […]
Quara Holding announces Strategic Partnership with CRMNEXT to Drive Digital Transformation and Deliver High Impact Customer Experience Solutions in KSA
Represents Quara Holding’s entrance into the transformative and lucrative digital customer experience space. Riyadh, Saudi Arabia – 27 April, 2021: Quara Holding has announced a strategic partnership with CRMNEXT, World’s No. 1 CRM and digital customer experience platform in banking and financial services, bringing world-class digital transformation solutions to Saudi Arabia. CRM and customer experience management is a […]
Saudi Payments enables FinTech providers to join” mada”
STC Pay and Geidea now part of ‘mada’ network Financial technology (FinTech) companies can now join the National Payment System [M1] ‘mada’, Saudi Payments announced, adding that it has completed the technical authorizations for STC Pay and Geidea to join ‘mada’ network as the first two non-banking entities. Accordingly, STC Pay can issue ‘mada’ cards (digital and plastic), which […]
Finastra makes Fusion KTP available in the cloud for bank and corporate treasurers
Solution now available to customers via Microsoft Azure to speed access to innovation Dubai, UAE – April 26, 2021 – Finastra today announced the availability of its Fusion KTP integrated global treasury management solution in the cloud. Existing customers are already in the process of migrating to Finastra’s cloud solution which is hosted on Microsoft Azure. Accessing […]
Get up to 70 percent off during the noon.com Ramadan sale
Biggest sale of the year so far will be filled with exciting deals, flash sales, and incredible savings off all categories Riyadh, KSA. 26th April, 2021: noon.com, the region’s homegrown digital marketplace, announces its huge Ramadan sale is now live until 29th April with 10 to 70 percent off all categories. The sale will also be packed with […]