Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
Mitsubishi Hitachi Power Systems (MHPS) showcases cutting-edge power changing technologies reshaping how energy is generated in Kuwait
In an impressive display of Japanese technological advancement and efficiency and Kuwaiti far-sightedness and ambition, Mitsubishi Hitachi Power Systems, Ltd. (MHPS) held an advanced technology seminar on April 8 in Kuwait City, centered on gas turbine combined-cycle power generation systems. The increasing demand for electricity, the desire to introduce natural gas as the fuel of […]
Under the patronage of HH Sheikh Mohammed bin Rashid Al Maktoum and presence of HH Sheikh Saif bin Zayed Al Nahyan – Annual Investment Meeting opens today
Under the patronage of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai and in the presence of HH Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Interior, the Annual Investment Meeting (AIM) 2019 opens today. The 9th edition of the world’s […]
UAE ranks first in the region representing 36 percent of the total FDI flow to the Arab countries
H.E. Eng. Sultan Bin Saeed Al Mansoori, UAE Minister of Economy stated that the UAE has maintained its position as a regional and international destination for foreign direct investment, ranking first among the Arab countries to attract Foreign Direct Investments (FDIs) since past five years. The country attracted about 10.35 billion dollars in 2017, representing […]
UAE home to over 67 fintech startups in Middle East
Latest figures by Bloomberg Intelligence revealed that the UAE has topped the list of countries in the Middle East with the highest number of financial technology (fintech) startups to date at 67. The UAE was followed by Turkey at 44 and Jordan and Lebanon at 30 each. Overall, the number of fintech startups in the […]
AIM Startup states that young companies provide 50 percent of all new jobs
Several reports reveal that startups generate significant employment opportunities globally, helping drive immense economic growth prospects. Startup firms and other young companies provide around 50 percent of all new job prospects in the market with seed stage and those operating for two and a half years hiring an average of 12 workers. The role of […]
Annual Investment Meeting 2019 to host strategic sessions to draw foreign direct investments
The organizing committee of the Annual Investment Meeting 2019, has completed the preparations for the upcoming event, which will be held from 8th to 10th of April in Dubai. More than 20,000+ corporate leaders, policy makers, businessmen, regional and international investors, entrepreneurs, leading academics, experts, and stakeholders from over 140+ countries from Europe, North America, […]
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UAE’s intelligent transportation system sector to witness 9.2 percent CAGR during 2017-2023:
The UAE’s intelligent transportation system market is seen to experience a compound annual growth rate (CAGR) of 9.2 percent during 2017-2023. An industry report released by Research and Market showed that the segment is poised for healthy growth within the covered period due to a number of factors, among which is the rising local demand […]
Annual Investment Meeting underlines digital as a key sector for drawing FDI
Digital and software are seen as the key industries to attract Foreign Direct Investments (FDIs). In addition, small and medium enterprises (SMEs), education, health care and hi-tech industries, are other industries that will boost the growth of FDIs. In the UAE, these sectors along with other priority sectors will witness a 15-20 per cent increase […]
Smart cities predicted to deliver more than USD 20 trillion in additional economic benefits by 2026
Findings of a report titled ‘Role of Smart Cities for Economic Development’ estimate that the smart city concept has the potential to boost the economic development of global cities by over 5 percent and deliver at least USD 20 trillion in additional economic benefits by 2026. The numbers were released as discussions on the economic […]
Saudi Students Inspire Evolution of Darisni
The needs of students in Saudi Arabia have inspired Darisni, the region’s first smart-device platform that instantly connects students with qualified tutors, to revise its offering in order to better meet its users’ needs. This has resulted in the platform’s expansion, including new subjects, exclusive video content, mock tests, and more. There are more than […]
UAE is the world’s top hot-spot for hundreds of startups followed by New Zealand, Singapore, Norway, Germany, Japan and Sweden
Studies indicate that the UAE is the world’s top hot-spot for hundreds of startups followed by New Zealand, Singapore, Norway, Germany, Japan and Sweden. It is observed that startups in the country are mainly involved in e-commerce, marketplaces, and infrastructure/software as a service, which account for 69 per cent of the total number of startups. […]
New Research Asks Investors to Rate Saudi Corporate Leadership for Future Readiness to Adapt to Economic Disruption and Transformation Needs
are calling for a new kind of corporate leadership style to better prepare organizations to navigate uncertainty, disruption and transformation affecting virtually all sectors of the Saudi economy, according to results of the new Korn Ferry (NYSE: KFY) global research study. The new “Self-Disruptive Leader” study surveyed 795 investors globally, including 50 Saudi investment analysts […]
AliExpress Anniversary Sale Brings Excellent Quality Products for Almost Half the price to Saudi Arabia
During the AliExpress Anniversary Sale, consumers will be able to shop from over 100 million products on the online portal and its app at up to 50% discount on offer. The AliExpress Anniversary Sale also brings an improved shopping experience to the buyers in Saudi Arabia by indulging them with multiple shipping and delivery […]
Dubai’s most exciting marketing brand Entourage expands in Saudi Arabia
After a series of new business acquisitions, performing ahead of the market and marking a successful year in 2018, the most exciting live marketing agency in Dubai has set its sights on Saudi Arabia with ambitious expansion into the Kingdom. “This is the year of Saudi”, said entourage marketing and events chief Mohammed Tayem. “In […]
SAS Recognized at Arab Best Awards 2018 for the ThirdConsecutive
Alaa Youssef, Managing Director – Middle East atSAS, was awarded the Arab Best Award for the thirdyear in a row. Held atMarriott Charles de Gaulle in Parison the 17th of March, Alaa was amongst 100 CEO’s awarded at the ceremony. Established in 2016, the Arab Best Award lauded leaders across three core categories – Arab […]
The Arab Monetary Fund (AMF) Organizes High Level Conference on Fostering Regional Financial Integration through Cross-border Payments
The Arab Monetary Fund (AMF) is hosting a High-Level conference on “The Role of Cross-Border Payments in Fostering Regional Financial Integration” on the 27th and 28th of March 2019,at the Intercontinental Hotel in Abu Dhabi, United Arab Emirates. This two-day event, organized in collaboration with the Deutsche Gesellschaft fürInternationaleZusammenarbeit(GIZ)GmbH, will gatherspeakers and industry […]
Simple holding company is the most widely used holding structure by Saudi family offices and UHNWIs, Jersey Finance research finds
:Jersey Finance, the body that represents and promotes the award-winningJersey IFC, recently hosted an event at the British Consulate in Jeddah as part of its effortsto broaden and deepen its relationships with key stakeholders and clients in the Kingdom of Saudi Arabia. During the event, Jersey Finance launched its latest whitepaper, in collaboration with law […]
Start-ups in the UAE account for 88 percent of whole deal value of the region
UAE start-ups secured USD 31.36 million in investments which account for 88 percent of the whole deal value of the region. Local Services, Ecommerce & Financial Services are the top three industries accounting for 44 percent of the entire deal count. In addition, logistics (9.3 percent), software (7.1 percent), media (4.6 percent), education (4.6 percent) […]
Hawkamah announces the appointment of Board Chairman Dr Ahmad Al Shaikh and a new Board member
–The HawkamahInstitute for Corporate Governance announced thatHE Dr Ahmad Al Shaikh has been elected as the Chairman of the Hawkamah Board, replacing outgoing Chairman HE Hamad Buamim.Alya Al Zarouni, Executive Vice President of Operations at Dubai International Financial Centre (DIFC) Authority, hasbeen appointed as a member of the Hawkamah Board. Commenting on the appointments, Dr […]
Driving A Collective Vision Between Finance And Tech Is Key To Promote Gender Parity
, (AETOSWire): ACCA (the Association of Chartered Certified Accountants)brought together senior finance leaders from across the UAE to discuss the need to drive a collective vision when looking at women in finance and technology in order to close the gender gap. In line with the association’s historical commitment, ACCA was the first professional accountancy body […]
Refinitiv MENA Financial Crime Survey Reports Increased Investment in Compliance Function and Growing Reliance on Regulatory Technology
Refinitiv today released the findings of its fifth MENA Financial Crime Report featuring new compliance and regulatory trends across the Middle East and North African markets. The findings featured five key themes including growing interest in technology, personal liability as a regulatory risk, increased anti bribery and corruption regulation activity, emergence of ambitious new compliance […]
Dubai ranks first globally in attracting foreign direct investments (FDI) for artificial intelligence and robotics
Dubai ranked first globally in attracting foreign direct investments (FDIs) for artificial intelligence and robotics; while the UAE ranked sixth in the global Smart Service Index, surpassing the US, UK and South Korea. The Emirate has attracted from 2015 to 2018 $21.6 billion worth of FDI in high-end technology transfers, with the most from the […]