Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
Organizations view procurement as increasingly strategic
IPG-JAGGAER survey identifies steady overall progress but also a “Covid-19” effect Dubai, United Arab Emirates, March 7, 2021: Procurement remains heavily weighted towards operational as opposed to strategic functions, but the latest survey conducted by Swiss-based innovation consultancy IPG Group and leading spend management technology company JAGGAER has identified an ongoing shift towards the strategic. Between July and October 2020, […]
Ajman Bank’s IT Head Wins CXO Award 2021
Ajman Bank’s Head of Information Technology Ms. Hajar Al Maazmi has been announced as one of the winners of the prestigious CXO 50 Awards 2021. Hosted by CXO Insight Middle East this year’s award was organised to recognise top 50 IT leaders and industry professionals who have taken the reins during the COVID-19 crisis to shape the new normal. Congratulating […]
Financial industry must tackle gender bias in algorithms, according to global fintech leader, Finastra
Finastra publishes five-point plan to tackle algorithmic bias in consumer finance decision-making New KPMG report, commissioned by Finastra, examines the size of global consumer lending markets and the potential impact of algorithmic bias in society Finastra urges the financial industry to address the problem and work together to help solve it Dubai, UAE – March […]
Jadwa REIT Saudi Fund Acquires The Boulevard Riyadh
Riyadh, 6 March 2021: Jadwa Investment, one of the region’s leading investment management and advisory firms, has signed a sale and purchase agreement to acquire The Boulevard Riyadh, a luxury retail and office complex in the north of Riyadh, for SAR 320 million, on behalf of Jadwa REIT Saudi Fund. The Boulevard Riyadh on Prince […]
Process Automation and Skill Enablement Vital for Business Resilience in the Gulf
Study Commissioned by Alteryx predicts transformational investments to spike in 2021 KSA — 4 March 2021— Alteryx, Inc. (NYSE: AYX), a leader in analytic process automation (APA), today revealed that insights from a newly-commissioned IDC Infobrief, which show that despite current economic challenges, businesses are investing in data-driven transformative technologies to make informed business decisions for the future. With […]
- Ad
China extends lead over the U.S. in global patents filings, Huawei tops global rankings for 4th year
China was the biggest source of applications for international patents in the world in 2020 for the second consecutive year and extended its lead over No. 2 filer the United States, the U.N. patent agency said this week. According to the World Intellectual Property Organization (WIPO), the increase rate was higher for China, with a […]
HRSD urges new businesses to access its range of services on Qiwa
Qiwa provides fast, efficient online access to labor law requirements including Saudization The Ministry of Human Resources and Social Development (HRSD) continues to offer support to small and medium enterprises (SMEs) and start-ups through its Qiwa platform which provides a range of online services developed to streamline and simplify labor law requirements for business owners. […]
REPORT: 2021 SET TO BE A DYNAMIC YEAR FOR PRIVATE EQUITY
Key questions ahead include whether SPACs are here to stay this time and the value of stronger ESG standards for investments Dubai, United Arab Emirates, 2 March 2021 – Private equity activity ground to a sudden halt in the second quarter of 2020 as the reality of Covid-19 became apparent. But the industry quickly regained its […]
Huawei Canada Remains Confident in Meng Wanzhou’s Innocence
Huawei Canada will still support Meng Wanzhou’s “pursuit of justice and freedom” as the chief financial officer returns to the British Columbia Supreme Court for the next phase of extradition proceedings, the company said in a statement. The court will hear arguments related to the four branches of abuse of process raised by her counsel, […]
Mobily Business Improves Customer Experience and Operational Efficiency with Mobileum Credit and Collections Solution
Automated solution streamlines the collections process, cuts operational costs and improves recovery rates CUPERTINO, CA – 2 March 2021 – Mobileum Inc. (“Mobileum”), a leading global provider of analytics-based roaming and network services, telco security, risk management, and testing and monitoring solutions, is pleased to announce that it is supporting Mobily Business to improve its collections process […]
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
IMA® Collaborates with The Financial Academy to Bridge the Skills Gap in the Profession
Middle East, March 2, 2021 – IMA® (Institute of Management Accountants) and Saudi Arabia’s Financial Academy have signed a memorandum of understanding (MOU) in an effort to further the professional initiatives for both organizations. As part of the collaboration, The Financial Academy and IMA will create awareness of the importance of skills development and the need for the CMA® […]
Saudi Arabia leads IPO market in MENA region during 2020, with four listings totaling US$1.45 billion
The MENA region saw a total of nine IPOs in 2020, raising proceeds of US$1.86 billion The Kingdom of Saudi Arabia continues to lead the IPO market in MENA with US$1.45 billion raised on Tadawul in 2020, representing 78% of total MENA IPO issuances Saudi Arabia is expected to see more than ten listings in […]
Jadwa Investment Launches Mezzanine Financing Fund
Riyadh- March 1, 2021: Jadwa Investment, Saudi Arabia’s leading investment management and advisory firm, announced today the launch of its first closed-ended mezzanine financing fund. The new Shariah-compliant offering is part of Jadwa’s ongoing commitment to expanding clients’ access to new asset classes. The fund will provide Shariah-compliant mezzanine financing to high-quality companies through a commodity […]
Huawei highlights the significance of technology in the future at Mobile World Congress Shanghai 2021
Chen Lifang: Technological advancements are hyped and politicized, sometimes demonized. Many have stopped believing in the power of technology because of fear and distrust. Some are going to great lengths to hinder the development of technology. Ken Hu: We have to focus innovation on bridging the gap between the haves and have-nots, and on driving […]
Zain KSA reduces 96.6% of its accumulated losses
Zain KSA has revealed its quarterly financial results, which showcase a steady growth in its operating revenues of about 7% in Q4 2020 compared to the previous quarter, where revenues achieved are SAR 2,061 million compared to SAR 1,928 million for Q3 of 2020. The company announced in a statement on “Tadawul” that these results […]
HRH Prince Mohammed bin Salman announces Soudah Development Company (SDC) #SoudahDevCo
Investment of USD 3 billion in tourism infrastructure and attractions to create a world-class mountain destination in the Asir region. Planned developments include 2,700 hotel rooms, 1,300 residential units, and 30 unique commercial and entertainment attractions by 2030. The company aims to attract over 2 million visitors annually and create 8,000 direct and indirect permanent […]
Intel IT: Accelerating Intel’s Future
What’s New: The newly released 2020-2021 Intel Information Technology (IT) Annual Performance Report highlights how Intel’s IT team aided the company as it faced the unprecedented challenges of 2020. Amid Intel’s transformation for a new era of distributed intelligence, Intel IT accelerated its efforts to integrate innovative solutions with emerging technologies into Intel’s business. This ensured Intel could […]
Global Search Ad Revenues to hit $171.6B in 2021, $19B Increase in a Year
The year 2020 was a challenging year for the entire digital advertising industry, with even the largest players like Google witnessing significant revenue drops amid the COVID-19 crisis. However, as millions of consumers shifted from brick-and-mortar stores to webshops, the entire market bounced back by the end of the year showing strong growth across all […]
NCB and Mastercard Launch Best-in-Class Credit Card for Corporates in Saudi Arabia
Mastercard Corporate World card allows large businesses as well as small and medium enterprises to effectively manage a full suite of corporate digital payment needs RIYADH, SAUDI ARABIA – 24 February 2021: Mastercard, the global technology leader, and the National Commercial Bank (NCB), a leading financial institution in the region, have launched a new corporate credit […]
Top 10 OEMs Accounted for 42% of Global Semiconductor Market in 2020
Apple, Samsung, and Huawei retained lead positions as the top original equipment manufacturers (OEMs) and semiconductor buyers in 2020. According to the research data analyzed and published by Comprar Acciones, Apple took the first spot with purchases worth $53.62 billion. Compared to Apple’s 2019 expenditure, which amounted to $43.24 billion, that was an increase of 24% […]
NIMR Signs Strategic Teaming Agreement with Saudi Arabian Military Industries (SAMI)
Agreement Represents First Industrial Military Collaboration between UAE, Saudi Arabia Abu Dhabi, United Arab Emirates, NIMR, the leading manufacturer of combat-proven wheeled military vehicles, today signed a Teaming Agreement with Saudi Arabian Military Industries (SAMI), a wholly owned subsidiary of the Public Investment Fund, to establish a framework for future collaboration to explore opportunities for the […]
TikTok User Spending Shot Up By Nearly 400% in January 2021 to $128 Million
Despite having a bleak outlook in 2020, TikTok ended the year on a high note and has embarked on an upward trajectory in 2021. According to the research data analyzed and published by Comprar Acciones, it was the top-grossing non-game mobile app globally in January 2021. During the month, it raked in $128 million in user […]