Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
Operation 300bn: The critical role of Smart Water in achieving a thriving economy
Comment by Francois Frigaux, Regional Director, Sensus, a Xylem brand, following the announcement of Operation 300bn: “Operation 300bn has laid out a clear path for the UAE to become one of the leading global industrial hubs by 2031. The 10-year comprehensive plan announced by the UAE Government will revolutionize the industrial sector, and channel innovation to boost […]
SWCC sets a new Guinness World Records™ title for Lowest energy consumption for a water desalination plant
Riyadh, Saudi Arabia, 24 March 2021 – The Saudi Water Conversion Corporation (SWCC) has set a new Guinness World Records™ title for the Lowest energy consumption for a water desalination plant with 2.27 kW/h per cubic meter of desalinated water. This new achievement is the latest of several records and milestones that SWCC has reached, […]
Liquid continues growth trajectory across MENA region with expansion into KSA & Egypt
A team of 20 experts across KSA & Egypt offices, the majority of which are local talent Liquid have scaled up from start up, to a team of over 90 experts in just five years Company reports a 35% increase in revenue in 2020 Dubai, UAE – Liquid, the award-winning retail ideas company fully dedicated to ensuring […]
Banque Saudi Fransi goes live with Finastra to future-proof treasury and trading business
Bank chooses the latest version of Fusion Kondor to streamline trading and risk operations and deliver new services to customers Riyadh – March 23, 2021 – Banque Saudi Fransi, a bank based in the Kingdom of Saudi Arabia, has gone live with the latest version of Fusion Kondor, Finastra’s treasury management solution. The move will enhance, automate and standardize the […]
Evelo Biosciences & Abdul Latif Jameel Health Announce Strategic Collaboration to Develop & Commercialize Novel Therapy EDP1815 for Inflammatory Diseases & COVID-19 in Select Developing Markets Serving 1.7 Billion People
Collaboration expected to accelerate access to Evelo’s lead inflammation product candidate and COVID-19 therapeutic medicine EDP1815 – if approved by relevant health authorities – to people in select developing markets and is Abdul Latif Jameel Health’s first biotechnology licensing agreement. The agreement launches Abdul Latif Jameel Health’s vision to accelerate access to affordable modern health care and […]
- Ad
Huawei Increases Investment in Carrier Software
Middle East, March 23, 2021: To strengthen its leadership in 5G business transformation, Huawei is increasing investment in carrier software as a strategy to support 5G business success. The announcement comes in response to the rapid development of innovative 5G enterprise market applications such as AR maintenance, remote PLC, intelligent quality inspection, and drone monitoring. 5G […]
Jadwa Investment Launches Real Estate Investment Fund
Riyadh, 22 March 2021: Jadwa Investment, one of the region’s leading investment management and advisory firms, announced today the successful launch of its Real Estate Investment Fund (REIF) in partnership with Tatweer Holding Group, Riyad Bank and Bank Albilad. The objective of the fund is to provide investors with a stable stream of income distributions and capital […]
Geidea becomes the only non-bank to be granted acquiring a license from SAMA and announces “Tap on Phone” solution enabling merchants to accept contactless payments with their mobile phones
In addition to the Tap on Phone solution, Geidea also offers a complete suite of payment solutions for SMEs ranging from payments, point of sale and e-commerce Geidea contributes to Saudi’s 2030 Vision to increase cashless payments to 70% by 2030 Tap on Phone app-based solution will empower SMEs with the tools to take payments, […]
Cedar Rose Rolls Out its Full Range of Credit Risk Management Services in the GCC
Cedar Rose has announced the launch of its comprehensive range of award-winning Credit Risk Management tools and services across the GCC. With a strong global presence, Cedar Rose has been at the forefront of providing world-class business intelligence and credit risk solutions in over 230 countries to leading firms since 1997. To support its growth in the GCC and […]
Warning: Middle Eastern banks must minimize Non-Performing Loans consequences and ensure portfolios remain high in terms of value
Non-Performing Loans are set to peak in 2021 and effects can be mitigated through a Workout Unit, according to Arthur D. Little Dubai, United Arab Emirates – 21 March 2021: The ongoing pandemic has resulted in Middle Eastern economies confronting severe repercussions, with banking institutions widely expected to experience companies defaulting on loans and cashflow problems. […]
Most read in Economy & Business
- Saudi Businesses Expand Investment in Agentic AI for Enterprise Operations
- Bupa Arabia Concludes Bupa Padel 2026 Tournament in Riyadh
- iSolution Earns Great Place to Work Certification in Saudi Arabia and UAE
- Fortinet and Aramco Sign Agreement to Expand Industrial Cybersecurity in Saudi Arabia
- ELSEWEDY ELECTRIC PSP and Sinohydro Sign $2.2B Rabigh 2 IPP Expansion Contract
Amazon grows its network with 11 new buildings and 1,500 jobs across Saudi Arabia
Amazon will create over 1,500 additional jobs across KSA; the multiplier effect of Amazon investments will generate thousands of additional indirect jobs across Saudi Arabia Amazon’s continued investments in Saudi Arabia will better serve customers through enhanced geographical reach and faster delivery speeds on a wider selection of products Riyadh, Saudi Arabia – 17 March […]
Wa’ed, Royal Commission for Jubail & Yanbu, announce start-up alliance in Saudi Arabia’s two largest industrial zones
The collaboration between Wa’ed, the entrepreneurship arm of Aramco, and the Royal Commission for Jubail & Yanbu is intended to accelerate creation of new start-ups and SMEs that are locating to Saudi Arabia’s two largest industrial cities. March 15, 2021 – Wa’ed, the entrepreneurship arm of Aramco, signed a memorandum of understanding (MOU) with the Royal […]
Citi Announces Retirement of Atiq Rehman, Head of EMEA Emerging Markets (EM) Cluster
UAE, Dubai- 11 March 2021: After 37 years with Citi, Atiq Rehman, Head of EMEA Emerging Markets (EM) Cluster, will retire from Citi. Atiq has made immense contributions to Citi, including playing a pivotal role in the evolution of Citi’s leading emerging markets franchise. Atiq joined Citi graduate trainee programme in Pakistan in 1984, moving to […]
Saudi National, Esraa Al-Buti, selected as a 2021 World Economic Forum Young Global Leader
EY tax partner recognized for pioneering work in tax-advisory and tax-structuring services as well as promoting positive change for women in the region Esraa to join a diverse community of world-renowned leaders dedicated to changing the world for the better Saudi Arabia – 11 MARCH 2021: Esraa Al-Buti, an EY tax partner based in the Riyadh […]
ABB urges greater adoption of high-efficiency motors and drives to combat climate change – global electricity consumption to be reduced by 10%
In a new whitepaper published today, ABB reveals the potential for significant energy efficiency improvements in industry and infrastructure enabled by the latest and most high-efficiency motors and variable speed drives. ABB calls on governments and industry to accelerate the adoption of the technology to help combat climate change. Dubai, United Arab Emirates– March 8, […]
Wa’ed backs Postage, an express courier redefining ‘fast delivery’ in Saudi Arabia
March 10, 2021 – Postage, a last-mile logistics provider for businesses that is shortening the wait times for express deliveries in Saudi Arabia, has raised a seed investment from Wa’ed, the entrepreneurship arm of Aramco. The investment, through Wa’ed’s venture capital arm Wa’ed Ventures, will enable Postage to expand beyond its current hubs in Riyadh and […]
First-ever ERM diagnostic survey of regional companies by Protiviti highlights an imminent need for stronger risk management
KSA; March 09, 2021: Spurred by the desire to mitigate the impact of risky events like the COVID-19 pandemic on businesses, Protiviti conducted the first-ever Enterprise Risk Management (ERM) survey in the Middle East to help regional companies evaluate their ERM preparedness. Protiviti’s largescale ERM Readiness Assessment Survey included companies from across sectors like Government, Financial Services, Technology, Media and Telecom, […]
AVEVA, ADNOC and ARC Conclude that Digital Transformation will Increasingly Drive Sustainable Business Practices in a Post-Pandemic World
Capital-Intensive Industries Demonstrate Significant Digital Agility in the face of Unprecedented Macro-Economic Disruption Dubai, UAE, March 10, 2021– AVEVA, a global leader in engineering and industrial software, has underscored how digital transformation will help to maximize business returns while also optimizing sustainability in a post-pandemic world. Speaking at the 25th Annual ARC Industry Forum recently, AVEVA CEO Craig Hayman and Alan Nelson, […]
Autodesk to Acquire Innovyze, Inc. for $1 Billion; Provider of Smart Water Infrastructure Modeling and Simulation Technology
Positions Autodesk to offer end-to-end solutions for design, construction, operations and maintenance of water infrastructure Riyadh, Saudi Arabia, 9th March 2021 – Autodesk, Inc. (NASDAQ: ADSK) today announced it had signed a definitive agreement to acquire Portland, Oregon-based Innovyze, Inc., a global leader in water infrastructure software, for $1 billion net of cash subject to working capital and tax […]
the pandemic has hastened trends in dealmaking that were previously years away, including rapid digitalization of the dealmaking process
Dubai, United Arab Emirates – March 9th 2021 –Bain & Company’s new survey of nearly 300 M&A practitioners shows that appetite for M&A remains robust, with about half of respondents expecting higher M&A activity in their industries in 2021. The survey also shows that M&A will continue to be a key strategic pillar for business, with […]
HRSD Qiwa platform supports over 500,000 Saudi companies
Platform provides access to business information and online labor related applications The Ministry of Human Resources and Social Development (HRSD) has announced that the number of companies signed up to its Qiwa platform has exceeded 500,000. The platform plays an important role in supporting businesses by offering a range of direct services online. The aim […]
Saudi Real Estate Refinance Company issues SAR 4 billion sovereign guaranteed Sukuk under its SAR 10 billion Sukuk programme, providing liquidity to the Saudi housing market
Riyadh, KSA; March 9, 2021: Saudi Real Estate Refinance Company (SRC), wholly owned by the Public Investment Fund (PIF), announced today the successful completion of its dual tenor SAR 4 billion (approx. USD 1.067 billion) Sukuk issuances. The issuance is part of the newly launched SAR 10 billion Saudi-Riyal Sukuk programme under which SRC will issue […]