Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
Malaysia will use Huawei tech ‘as much as possible,’ says Mahathir
Malaysian Prime Minister Mahathir Mohamad said Thursday that Malaysia would continue to welcome Huawei Technologies, even as others shy away from working with the Chinese tech juggernaut. Huawei has achieved a “tremendous advance over American technology,” Mahathir told the annual Future of Asia conference in Tokyo, hosted by Nikkei. While the U.S. has long had […]
Refinitiv report finds global companies to ramp-up innovation as 72% fall prey to financial crime
Refinitiv, one of the world’s largest providers of financial markets data and infrastructure, has published its second annual financial crime report today. Innovation and the fight against financial crime: How data and technology can turn the tide highlights that almost three-quarters (72%) of organisations have been victims of financial crime over the past 12 months […]
Finastra’s open cloud platform drives collaboration and innovation in financial services
Ahead of its FusionONE developer conference, co-hosted with Microsoft, Finastra unveiled the latest developments to its FusionFabric.cloud open platform for innovation. As half of financial institutions in the UK and US look to implement cloud collaboration[1], adoption of Finastra’s open platform is gathering pace, with over 300 Fintechs now registered. Further to its strategic […]
LG COMMITS TO CARBON NEUTRALITY BY 2030
LG Electronics (LG) has launched its aggressive Zero Carbon 2030 initiative, committing to achieving net-zero carbon emissions from its global operations within 12 years. In line with its larger sustainable business strategy, LG will look to reduce carbon emissions from its global operations by 50 percent compared to a 2017 baseline by implementing various […]
Huawei founder Mr. Ren Zhengfei:
In his latest meeting with the media, Huawei founder Mr. Ren Zhengfei has reiterated that the company is in a strong position to move ahead despite recent political actions in the United States. Addressing questions about the impact of the White House’s recent executive order, Ren noted: “What the US will do is out of […]
Meet the Winners of Smartpreneur Competition 4.0 Supported by du
Three innovative startups have been named winners of the Dubai Smartpreneur Competition 4.0 hosted by Entrepreneur Middle East’s 2019 Enterprise Agility Forum and supported by du, from Emirates Integrated Telecommunications Company (EITC). The competition is one of the programs by Dubai Startup Hub, the entrepreneurship support arm of Dubai Chamber of Commerce and Industry. Open […]
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SWIFT trials instant cross-border gpi payments through TIPS
SWIFT today announces that a group of banks are to trial instant gpi cross-border payments in Europe using the TARGET Instant Payments Settlement (TIPS) platform. The European Central Bank (ECB) and SWIFT have launched this initiative to extend the reach of instant cross-border payments deeper into the European market by enabling gpi in the […]
SADAFCO Receives Prestigious ‘Saudi Dates Mark’ Certification
In yet another recognition of the high quality standards maintained across its manufacturing facilities and products, Saudia Dairy and Foodstuff Company (SADAFCO) has received the iconic ‘Saudi Dates Mark’ certification from the National Center for Palm & Dates (NCPD). The certificate was received by Saud Al Badr, PR Manager of SADAFCO, at an event […]
ArabClicks eyes 48m Internet users to boost e-commerce in Egypt
ArabClicks — a performance-based marketing platform that helps e-commerce companies connect and grow in the Middle East and North African (MENA) markets – has expanded its services to Egypt, which is home to the highest number of Internet users in the Arab World. Since its formal entry into the North African nation in May 2019, […]
More global banks commit to Finastra’s Fusion LenderComm
Finastra has signed three global banks on its Fusion LenderComm platform as part of a coordinated campaign, including BNP Paribas, Natixis and Societe Generale. With NatWest, which joined recently, the ramp up signals a move towards a new era of efficiency in this complex space. Grant Jones, VP, Fusion LenderComm, Finastra said, “All of […]
LG ANNOUNCES FIRST-QUARTER 2019 FINANCIAL RESULTS
LG Electronics Inc. (LG) today announced consolidated sales of KRW 14.92 trillion (USD 13.27 billion) and operating profit of KRW 900.6 billion (USD 801.25 million) for the first quarter of 2019. Although overall first-quarter revenues and operating income declined somewhat in 2019 versus 2018, the home appliance company reported record first-quarter sales and profits. Operating […]
PitStopArabia.com Attracts Mitsubishi Corporation as a Strategic Investor
–(AETOSWire)–PitStopArabia.com, the leading online tyre retailer in UAE, announced today the completion of investment with Mitsubishi Corporation (MC). MC now becomes a strategic partner and a shareholder in the company. The investment is a significant milestone for PitStopArabia.com and is aimed at bolstering their market leadership and growing their foot print regionally. “The decision to […]
Future Government Drives Bahrain’s IT Market to BHD 70 Million by 2021
Future government and digital transformation are driving Bahrain’s IT market to reach a record-high of BHD 70 million by 2021, the newly appointed Country Manager of SAP Bahrain announced today. In line with Bahrain Economic Vision 2030 to foster economic diversification, organizations are increasingly digitally transforming, especially with real-time software to transform citizen and […]
AURAK signs an MoU with AAA
–(AETOSWire)– The American University of Ras Al Khaimah (AURAK) President, Professor Hassan Hamdan Alalkim, and the General Secretary of the Accountants and Auditor’s Association (AAA) in United Arab Emirates, Mr. Salim Saeed Naser Al-Esaei, entered into a memorandum of understanding during a signing ceremony. In the memorandum the institutions agreed to collaborate in providing professional […]
du Celebrates UAE’s Entrepreneurial Spirit as Silver Partner at 2019 SME Expo
du, from Emirates Integrated Telecommunications Company (EITC), is delivering innovative solutions to power the UAE’s SMEs, as a Silver Sponsor at the 2019 SME Expo. Taking place at the Abu Dhabi National Exhibition Centre, du utilised the two-day event to share how its leading technology and bespoke solutions can be applied to inspire SME businesses […]
Shop discounts ranging from 10% to 70% on selected categories, including Supermarket, Home & Kitchen, and Electronics
SOUQ is bringing shoppers the best deals just in time for the month of giving. SOUQ announced that it will be offering an array of deals for customers to enjoy discounts from 10% to 70% during the Holy Month of Ramadan. Saleem Hammad, General Manager at SOUQ.com in KSA said: “Ramadan is a very […]
Wahed Becomes the First Globally-Accessible Halal Robo-Advisor
-(BUSINESS WIRE/AETOSWire)– Wahed Inc. (“Wahed”), the parent company of Wahed Invest LLC, the first halal robo advisor in the United States, today announces it is expanding its operations globally. The platform, which was previously available only to US and UK communities, now provides access to Islamic value-based investing to residents of over 130 countries […]
A Decade in Saudi Arabia for Dewan Architects and Engineers
(AETOSWire): Celebrating ten successful years in Saudi, Dewan Architects + Engineers commences expansion drive with a focus on delivering expertise to support Saudi Vision 2030. As leaders in the Middle East’s flourishing architectural and engineering design sector, Dewan Architects + Engineers were quick to recognise that Saudi Arabia was a key market for them. The […]
International Experts Commend Riyadh’s Lifestyle Transformation Projects
(AETOSWire): A panel of prominent International experts from various academic and professional fields convened yesterday to discuss Riyadh’s USD23 billion investment in the recently announced 4 Grand Projects that will transform the city and improve the wellbeing of millions of citizens in the capital city. The Subject Matter Expert (SME) Forum took place at the […]
AETOSWire and RoadSafetyUAE Join Hands Again to Promote Road Safety Awareness Campaign for Ramadan 2019
AETOSWire, a leading innovative press release distribution company in Middle East and Africa, and RoadSafetyUAE, an initiative that ultimately aims to bring about safer roads in the region, cooperate once more in promoting the Road Safety Awareness Campaign for this year’s Holy Month of Ramadan. This year’s campaign will build on the success achieved by […]
SAP Appoints Mohammed Al Khotani as Managing Director of Saudi Arabia
Global technology company SAP has appointed Mohammed Al Khotani as the new Managing Director of SAP Saudi Arabia, in order to enable Saudi Vision 2030’s cloud-based economic growth, Smart Cities, and Intelligent Enterprises. Saudi Arabia’s organizations are digitally transforming into Intelligent Enterprises that can store, manage, and analyze data on the cloud from […]
RIOT Teams up with Pink Caravan for The RIOT WOMEN’S CLUB SERIES – The Extra Edition
RIOT – the online boutique for pre-loved fashion must-haves, on-trend essentials and timeless classics – gathered together Dubai’s empowered women for ‘The Extra Edition’, the second session of THE RIOT WOMEN’S CLUB SERIES, at Ramusake Dubai on Tuesday, April 30th. ‘The Extra Edition’, in partnership with Pink Caravan, celebrated the fearless women of the world […]