Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
Emirates NBD expands its presence in the Saudi market with the official opening of 2 new branches in Mecca and Medina
KSA is one of Emirates NBD’s largest footprints outside the UAE Increased network is part of Emirates NBD’s ongoing economic expansion strategy Riyadh, KSA, 25 April 2021: Emirates NBD, a leading banking group in the MENAT (Middle East, North Africa and Turkey) region, recently opened two new branches in the holy cities of Mecca and Medina. […]
How the World Around Us Affects Market Positions
Dubai, UAE (April 2021): As every good trader will tell you, successful trading starts with good planning, and good planning starts with understanding how the world around us affects market positions. From supply and demand to market sentiment and unexpected events, there are countless factors that can positively or negatively impact the stock market. KNOWEDGE […]
Al Salem Johnson Controls Leads Local HVAC Manufacturing for 20 Years
Dr. Mohanad AlShaikh: The “Made in Saudi” program promotes the sustainability and growth of the Saudi non-oil economy More than 95,000 units manufactured by Al Salem Johnson Controls over the past two decades The company succeeded in exporting 30% of its Saudi-made units to more than 20 countries The company furthered its national manufacturing capabilities […]
Technology Innovation Institute’s Secure Systems Research Centre Partners with World-leading Universities across Groundbreaking Projects
The partnerships with prestigious universities from the UAE, USA and Europe will advance breakthroughs in secure systems Abu Dhabi, United Arab Emirates, 21 April 2021: Technology Innovation Institute (TII), the applied research pillar of Abu Dhabi’s Advanced Technology Research Council (ATRC), today announced that its Secure Systems Research Centre (SSRC) has partnered with Khalifa University, Georgia […]
Egypt’s largest solar plant, Kom Ombo, receives US$ 114 million financing package
EBRD, OPEC Fund, AFDB, GCF and the Arab Bank to finance the 200 MW solar plant in Egypt Kom Ombo solar plant to be developed, constructed and operated by ACWA Power Financing package to increase renewable energy in Egypt Cairo, Egypt, 22 April 2021 ‒ The European Bank for Reconstruction and Development (EBRD), the OPEC Fund for International Development (the […]
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Marketing Automation Platform WebEngage Featured in the Financial Times Asia-Pacific High-Growth Companies 2021 List
MUMBAI, India–(BUSINESS WIRE/AETOSWire)– WebEngage, a full-stack Marketing Automation company, has been recognized by Financial Times as one of Asia-Pacific’s top 500 high-growth companies, debuting in the list at rank 206 to emerge as a rapidly-growing company. The report compiled in partnership with Nikkei Asia and research provider Statista — ranks Asia-Pacific companies by their compound annual growth rate (CAGR) […]
9 in 10 adults in Middle East willing to take personal action on sustainability issues: new Mastercard study
Study of 24 countries shows the pandemic is prompting billions1 to consider more sustainable behaviors 80% of adults in the Middle East are more mindful of their impact on the environment since COVID-19, far higher than global average of 3 in 5 adults Almost three quarters of adults (72%) in the region admit companies behaving in more sustainable and […]
Noon payments waives set-up fees for SMEs for the duration of Ramadan
Local businesses needing a payment gateway will save 1,000 AED/SAR when joining noon Riyadh, KSA. April 22nd, 2021: noon.com, the region’s homegrown digital marketplace, is waiving set-up fees for noon payments giving local SMEs extra support in taking their businesses online during the Holy month. Engineered for growth, noon payments is an online payments platform by noon. From e-commerce stores […]
ENOC Group’s terminals operations further expands into the Kingdom of Saudi Arabia
ENOC’s Horizon Terminals Limited and Rotary Arabia complete infrastructure development critical to petrochemical transportation in KSA’s Western Province Project involves four new pipelines from Farabi Petrochemicals Company’s new Yanbu complex to Arabtank Terminal Limited’s storage tanks, a revamp of four existing storage tanks and two new pipelines to King Fahad Port in Yanbu Dubai, UAE; […]
Mobily Ventures celebrates its investment, Anghami, becoming first Arab technology company to list on NASDAQ New York
Anghami to list on NASDAQ New York via merger with Vistas Media Acquisition Company Inc., a publicly-traded SPA company that raised $100 million in its August 2020 IPO Transaction implies an initial pro-forma enterprise valuation of approximately $220 million and is expected to close in Q2 2021 Abu Dhabi-based Anghami is backed by leading MENA […]
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Arbah Capital ends 2020 with four successful investments, raising Assets Under Management to 1.6 billion riyals
The year 2020 was a difficult year by all standards around the world in every aspect triggered by the Covid-19 pandemic, and our thoughts and prayers go first and foremost to all those that have suffered loss during this very difficult time. Arbah Capital worked hard during this period despite the circumstances and was able […]
Resilience Needed to Jump Start Final Stages of Energy Transition, Study Finds
· Nordic countries, including Sweden, Norway, and Denmark, have maintained their leading positions on the Energy Transition Index (ETI), driven by strong progress in environmental sustainability. · Only 13 out of 115 countries have made steady gains in ETI scores in the past decade, highlighting that progress has been uneven. · The energy transition requires […]
Jadwa Investment partners with Saudi Ministry of Human Resources and Social Affairs to develop non-profit sector
Riyadh, 19 April: Jadwa Investment, one of the region’s leading investment management and advisory firms, has announced the signing of a Memorandum of Understanding (MOU) with the Ministry of Human Resources and Social Affairs to launch two investment funds for the purpose of supporting the development of the non-profit sector in the Kingdom. Through the establishment […]
EMKAN CELEBRATES ITS 1 YEAR ANNIVERSARY WITH INSTANT E2E DIGITAL FINANCING SOLUTION
First financial services company to offer instant financing in the Kingdom of Saudi Arabia Plans underway to provide Auto Finance, SMEs Finance, and credit card issuance April 19, 2021 – Emkan, a financial company that provides innovative financial solutions across the Kingdom of Saudi Arabia, has celebrated its first anniversary with the launch of a new digital financing […]
COVID-19 amplifies integrity challenges for businesses in emerging markets: EY
63% of global respondents in emerging markets say it is difficult for organizations to maintain standards of integrity during difficult market conditions 30% of UAE respondents, and 32% in the KSA believe that bribery and corrupt practices present the greatest risk to the long-term success of businesses Saudi Arabia – 18 April 2021: As organizations transition […]
Mastercard Track™ Business Payment Service Welcomes HSBC UAE as Part of Mission to Help Modernize the Middle East and Africa’s B2B Payment Ecosystem
HSBC launches Mastercard Track™ Business Payment Service for commercial customers in the UAE Saudi Arabi – 18 April 2021 – Technology leader Mastercard continues to deliver on its promise to modernize business payments worldwide and across the Middle East and Africa region, announcing a new partnership with HSBC that will provide the bank’s commercial customers in the UAE with an […]
DESIGN INTERNATIONAL UNVEILS ITS LATEST ARCHITECTURAL MASTERPIECE IN DUBAI, SILICON CENTRAL, AND CELEBRATES THE OPENING OF LULU GROUP’S 209TH HYPERMARKET
Dubai, UAE – Silicon Central, designed by Design International, opens its doors to the public of Dubai who will experience the latest Lulu hypermarket, a new 9,000 sqm flagship store by Lulu Group. The project, already considered a new landmark in Dubai, represents a step forward in the now well-established collaboration between Design International and Line Investments […]
GoDaddy Launches 2021 Brand Campaign to Support Entrepreneurs and Small Businesses in Saudi Arabia
The campaign helps entrepreneurs and small business owners amplify their online presence and inspire their audience through compelling content and design Aims to boost e-commerce supporting the Kingdom’s digital and economic strategies JEDDAH, KSA – 15 April, 2021 – GoDaddy Inc. (NYSE: GDDY), the company that empowers everyday entrepreneurs around the world, announced today the launch of […]
Mastercard Recovery Insights: eCommerce a Covid Lifeline for Retailers with Additional $900 Billion Spent Online Globally
New report spotlights retail’s digital acceleration Online consumer spending in Kingdom of Saudi Arabia has increased driven by a 33% YoY jump in number of online shops 14 April, 2021; Riyadh, Saudi Arabia: As Covid-19 kept consumers around the world at home, nearly everything from groceries to gardening supplies was purchased online. According to Mastercard’s latest […]
Tally Solutions simplifies VAT implementation for the business community in Oman
Muscat, Oman, 14 April 2021: Tally Solutions, an international business management software provider recently hosted a virtual event ‘Ask the Expert’ to address queries on soon-to-be-implemented Value Added Tax (VAT) in Oman. Industry experts in the region were present to share insights and developments, as well as prepare the business community for the upcoming changes in […]
Nahdi Medical Company inks agreement with Ministry of Human Resource and Social Development to employ more than 700 Saudi Nationals
Jeddah, Kingdom of Saudi Arabia – 13 April 2021: In line with the objectives of the Saudi Vision 2030 and as part of its corporate responsibility program, Nahdi Medical Company (NMC), Saudi Arabia’s largest pharmacy retail chain and leading healthcare provider signed a Memorandum of Understanding with the Ministry of Human Recourses and Social Development to employ more than 700 […]
Top Three Global Online Marketplaces Accounted for Nearly Two-Thirds of $2.67 Trillion 2020 GMV
Online marketplaces around the world enjoyed stratospheric growth in 2020. According to the research data analyzed and published by ComprarAcciones.com, the cumulative sales for the top 100 marketplace sites reached $2.67 trillion during the year. Compared to the 2019 figure, that marked an increase of 29% year-over-year (YoY) in gross merchandise sales. It grew at a […]