Economy & Business

Dubai, United Arab Emirates, 23 February 2021 – Finastra Universe 2021 is a unique virtual event that brings together banks, fintech, and developers to explore the impact of technology on financial services. It will open on March 2, with hundreds of sessions available on-demand via the Finastra Universe platform throughout the rest of the month. The event will focus on the enormous […]

Mohamed Ghamdi · 23 Feb 2021

World’s first secured trading platform for pre-owned luxury assets and electronics plans to aggressively accelerate global expansion. 22 February 2021, Al Riyadh, Saudi Arabia – North Ladder (previously called BuyBack Bazaar), a UAE-based secured trading platform for pre-owned luxury assets and electronics, announced a $5 million Series A funding round led by regional venture capital firm BECO Capital. The […]

Shima Zamil · 23 Feb 2021

A one-stop-shop website provides a comprehensive gateway to information on Saudi labor laws and regulations  Riyadh, 22 February 2021: The Ministry of Human Resources and Social Development (HRSD) encourages all business owners and employees to access the full range of services available through its Qiwa platform. The platform provides a single point of reference through the MHRSD […]

Nour Elotaiby · 23 Feb 2021

Saudi based fintech will offer a new app-based spending account in the Kingdom Riyadh, Saudi Arabia – 21 February 2021: Tweeq, a Saudi Fintech which aims to provide a feature-rich spending account for individuals and SMEs, has signed exclusive partnership agreements with Mastercard, the leading technology company in the global payments industry, and Paymentology, a leading cloud-based […]

Shima Zamil · 21 Feb 2021

Riyadh, 21 Feb 2021 – Mobily succeeded in achieving a net profit for the year ended 31 December 2020, the company recorded in the fiscal year 2020 a net profit reached SAR 783 million compared to a net profit of SAR 31 million in 2019. The achievement of recording net profit for 2020 is mainly due to […]

Mohamed Ghamdi · 21 Feb 2021

February 17, 2021 — Hazen.ai, a maker of intelligent traffic systems that use Artificial Intelligence (AI) technologies to improve road safety, has received a follow-on investment from Wa’ed, the entrepreneurship arm of Aramco. The company this year won a global award from the International Road Federation for its traffic management systems, which combine the latest in machine […]

Shima Zamil · 17 Feb 2021

Huawei’s chief financial officer is seeking bank records from HSBC in a bid to prove she didn’t trick lenders into processing transactions that violated U.S. sanctions targeting Iran. Meng Wanzhou, who’s fighting extradition to the U.S. from Canada, asked London’s High Court to grant an order to obtain the records, which she says will show […]

Zamil Safwan · 14 Feb 2021

Guidance raised reflecting improved performance across key business metrics Total revenue increased 4% year-over-year to $743 million Avaya OneCloud™ ARR increased 38% sequentially to $262 million Cloud, Alliance Partner & Subscription revenue grew to 34% UAE, Dubai, – February 10, 2021 – Avaya Holdings Corp. (NYSE: AVYA) today reported financial results for the first quarter of […]

Shima Zamil · 11 Feb 2021

The year 2020 has witnessed an impressive growth of the global app market, with millions of people spending more time indoors and online amid the coronavirus lockdown. As one of the two largest distribution channels for mobile apps, Google Play has witnessed new records in revenue and the number of downloads. According to data presented […]

SSICT News · 10 Feb 2021

February 10, 2021 — Averos, a Saudi maker of location-based technology used by hospitals, airports, industry, and governments to improve security, hygiene monitoring, and operating efficiency, has received a follow-up investment from Wa’ed, the entrepreneurship arm of Aramco. The company, which is based in Mecca, plans to use the latest funding, its second from Wa’ed […]

Mohamed Ghamdi · 10 Feb 2021

Third-quarter operating profit returns to positive at 27.1 billion yen as full-year forecasts are revised YOKOHAMA, Japan (Feb. 9, 2021) – Nissan Motor Co., Ltd. today announced financial results for the April-December period of fiscal year 2020 and the revised outlook for fiscal year 2020. In the third quarter of the fiscal year, consolidated net […]

Mohamed Ghamdi · 9 Feb 2021

Reddit has recorded millions of installations amid increased trading activity triggered by discussions on the subreddit WallStreetBets.  Data acquired by Finbold indicates that Reddit’s global mobile installs grew by 43.47% between December 2020 and January 2021 from 4.6 million to 6.6 million. Elsewhere, between January last and January 2021, the platform’s users have skyrocketed by 127.58%. The […]

Zamil Safwan · 8 Feb 2021

Technologies to increase production in North Kuwait Integrated Digital Field HOUSTON–(BUSINESS WIRE/AETOSWire)– Halliburton Company (NYSE: HAL) today announced it was awarded a contract from Kuwait Oil Company (KOC) to collaborate on their digital transformation journey through the maintenance and expansion of digital solutions for their North Kuwait asset. It will allow KOC to accelerate their […]

Nour Elotaiby · 5 Feb 2021

Second consecutive record-breaking quarter, with revenue, pre-tax income, and net income all reporting record highs  Group revenue up by 22% year-on-year to US$17.2 billion Quarterly pre-tax income (PTI) of US$591 million up 52% year-on-year Net income up 53% year-on-year to US$395 million All core businesses delivered both topline and bottom-line year-on-year growth Announces Group organizational […]

SSICT News · 5 Feb 2021

The ongoing coronavirus pandemic continues driving impressive growth of the global app market. As one of the two largest distribution channels for mobile apps, Apple App Store has witnessed a surge in revenues and the number of downloads amid the lockdown. According to data presented by Buy Shares, App Store users spent $72.3bn on in-app purchases, […]

Zamil Safwan · 3 Feb 2021

GoDaddy 2020 Entrepreneur Survey revealed 84% of Saudi entrepreneurs are confident their businesses can survive a second wave of COVID-19 as big as the first one Jeddah, KSA – 27 January, 2021 – GoDaddy (NYSE: GDDY), the company that empowers everyday entrepreneurs around the world, released the results of its 2020 Entrepreneur Survey, which revealed that small businesses in […]

Nour Elotaiby · 1 Feb 2021

More than 500 SMEs projected to benefit from the deal RIYADH, January 31 2021 Arabian Centers Company (ACC), the leading owner and operator of lifestyle destinations in Saudi Arabia, and Quara Finance, a leading Saudi company providing Shariah-compliant financial services, have announced, today, a new partnership to finance entrepreneurs’ businesses in ACC shopping centers.  The joint agreement […]

Nour Elotaiby · 31 Jan 2021

The virtual event brought together thought leaders, regulators, and innovators to collectively address current urban challenges  January 27th, 2021 – Uber has launched the ‘Ignite’ series – a platform intended to fuel conversation and inspire solutions to the urban challenges facing the MENA region. Ignite’s inaugural ‘Tech for Transport Safety’ panel took place on January 26th and focused on the […]

Mohamed Ghamdi · 28 Jan 2021

Safdar Badami, Managing Director, Al Muqarram Group Dubai, United Arab Emirates, 28 January 2021, (AETOSWire): The Covid-19 outbreak put many sectors at a standstill, with building and construction recording a moderate growth since the pandemic struck. However, the Middle East and Africa, in general, have done well in controlling the pandemic. Though it has led […]

SSICT News · 28 Jan 2021

Saudi Arabia –  Jan 27, 2021 – Mastercard is furthering its commitment to creating a more sustainable and inclusive digital economy, with a pledge to reach net-zero emissions by 2050.  Understanding that economic growth cannot come at the expense of the planet, the company’s global action plan aims to continue to reduce greenhouse gases (GHG) by remaining focused […]

SSICT News · 28 Jan 2021

A new report from the Global Manufacturing and Industrialisation Summit and PwC identify key global trends that enable organizations to succeed at glocalization – operate globally and locally in today’s global context.   Key trends include: regionalizing an organization’s footprint, increased use of robotics for manufacturing and logistics, and changing the cost model for production and sourcing. […]

SSICT News · 28 Jan 2021

Jordanian innovator, Insect Kids wins judges over with their flatpack, sustainable toy concept. The winning project has been awarded the 2020 Audi Innovation Award trophy, a trip to the Audi factory at Ingolstadt, and $25,000 worth of consultancy to cover IP registration, legal counseling, and business development.    Second and third places were awarded to Infrastic […]

Shima Zamil · 28 Jan 2021