Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
Finastra Universe Dubai fuels discussion around innovation-driven technologies in banking sector
Finastra Universe organized by Finastra – a global Fintech force, brings together global and regional experts at the Ritz Carlton Dubai, to explore the growing impact of technology on the banking sector. Finastra Universe highlights the need for financial institutions such as banks to have a strategic digital agenda that will distinguish them from the […]
Gartner Reveals Seven Digital Disruptions CIOs May Not See Coming
Gartner, Inc. revealed seven digital disruptions that organizations may not be prepared for. These include several categories of disruption, each of which represents a significant potential for new disruptive companies and business models to emerge. “The single largest challenge facing enterprises and technology providers today is digital disruption,” said Daryl Plummer, vice president and Gartner […]
Cleanzone Middle East 2018 To Showcase Latest Innovations And Science Targeting UAE’s US$75 Billion Manufacturing Sector
The UAE’s ambitious vision to be the manufacturing hub of the Middle East will be centre of attention at a brand new conference and exhibition dedicated to cleanroom technology next week in Dubai. Cleanzone Middle East 2018 arrives as the UAE looks to invest US$75 billion in its manufacturing sector by 2025, leading to cleanroom […]
New IDC Report Examines Saudi Arabia’s Digital Government Ambitions
While digital transformation presents tremendous opportunities to revolutionize public administration and service delivery, government leaders must understand the complexities involved if they are to avoid the pitfalls that await. That’s according to a new multi-client study published by global technology research and consulting firm International Data Corporation (IDC) that aims to guide the implementation of […]
KPMG Report Highlights Bahrain’s Competitive Advantages in Doing Business in the GCC Region
A KPMG report on ‘The Cost of Doing Business in the GCC’ in the ICT sector has found that Bahrain has the most liberalised and competitive IT sector in the region. It also leads on most indicators for cost of doing business in the GCC region – a market worth US$1.5 trillion. Crucially, the report […]
Abu Dhabi National Oil Company Announces $132 Billion CAPEX Program, Integrated Gas Strategy and an Increase in Oil Production
The Abu Dhabi National Oil Company’s (ADNOC) announced, today, its plans to launch a new integrated gas strategy and increase its oil production capacity to 4 million barrels per day (mmbpd) by the end of 2020 and 5mmbpd by 2030, following approval from the Supreme Petroleum Council (SPC), the highest governing body of the oil […]
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Aramex Leads UAE Winners of Digital Innovation Awards
The UAE’s most innovative organizations, led by Aramex — along with Mediclinic, AG Melco Elevator Company LLC,The Body Shop, and Truebell – have won awards for their digital transformation. SAP Quality Awards recognize the most innovative digital transformation projects delivering significant business benefits to their organizations. Aramex, the leading global provider of comprehensive logistics and […]
Al Salem Johnson Controls Stresses the Safety of its Clients
Owing to the multitudinous benefits of using Ammonia Gas instead of Freon in in Industrial Refrigeration applications, several Governments and Developed Countries are encouraging its use. Ammonia gas is a sustainable, environmentally friendly refrigerant. It does not contribute to global warming, and due to its ability to absorb more energy than its Freon counterpart, Chillers […]
Sage Marks Successful Participation in GITEX Technology Week 2018 with Key Partnerships, Charity Contribution
Sage, the market leader in cloud business management solutions, concluded a successful participation in the 38th edition of GITEX Technology Week, the largest technology exhibition and conference in the Middle East. Highlights included the signing of landmark partnership agreements with telecommunications company Etisalat and Mazoon Dairy Company, Oman’s flagship dairy project.As part of the conference […]
BASF inaugurates regional development laboratory at Dubai Science Park
BASF’s Construction Chemicals division today launched a new regional competence center, a development laboratory, at Dubai Science Park, a holistic science-focused business community in Dubai. This Laboratory opening is fully in line with BASF Construction Chemicals’ drive to expand its global R&D infrastructure for the construction industry and to reinforce the commitment to its regional […]
ITPC and STS enter strategic partnership to push SAP on Azure in MENA Region
ITPC (Swiss consulting company with global presence specialized in SAP technology) and Specialized Technical Services (STS) (the leading provider of comprehensive information technology (IT) solutions in MENA region) are pleased to announce the formation of a strategic partnership. With Microsoft Corp.’s assistance, this collaboration aims at pushing SAP on Microsoft Azure in the Middle East […]
The Dubai Supreme Council of Energy (DSCE) launches the fourth edition of Emirates Energy Award (EEA) 2020
Under the patronage of HH Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, the Dubai Supreme Council of Energy (DSCE) launched today the fourth edition of Emirates Energy Award (EEA) – 2020 to be held under the theme – ‘Inspiring Innovation for Sustainable Energy.’ The fourth edition […]
NEW TECHNOLOGIES CAN TRANSFORM GLOBAL TRADE AND CARGO MOVEMENT – SULTAN AHMED BIN SULAYEM
Global trade enabler DP World has highlighted its ambition to use Hyperloop and blockchain technologies to revolutionize cargo movement across borders. Speaking at the Future Investment Initiative in Riyadh, Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World, already the biggest investors in Hyperloop technology, announced that it is working on a new type […]
Easier for Entrepreneurs to Start a Business Today, Says Netflix Founding Executive
Dubai Science Park (DSP), a holistic science-focused business community, and the American Middle East Institute (AMEI), a Pittsburgh-based independent non-profit organisation, welcomed Mitch Lowe, Founding Executive of Netflix, to a joint conference, held on the sidelines of the 38th GITEX Technology Week in Dubai. Themed Disruptive Technologies and the Next Economy, the institute’s 11th annual […]
Mercer releases Global Pension Index survey results for Saudi Arabia
Mercer, a global consulting leader in advancing health, wealth and careers, and a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC) today released the results of their Global Pension Index survey in Saudi Arabia. The index compares the retirement income systems of 34 countries covering a diversity of pension policies and practices. The […]
Transguard Group to Digitally Transform the UAE’s USD $1 Billion Outsourcing Market
Aimed at fostering a digital connection between the UAE’s complicated ecosystem of managers, suppliers, Transguard Group, one of the nation’s largest employers, has announced a partnership with SAP that is aimed at digitally transforming the country’s USD $1 billion job outsourcing market. A Bayt.com survey found two-thirds (66 percent) of Middle East employers plan to […]
Lessons from the UAE: Digitizing VAT
By Mansoor Sarwar, Technical Director at Sage Middle East The extensive use of technology during the introduction and post-implementation of value-added taxes in the UAE, on the part of the government and UAE-based businesses, has led to a smooth transition to a taxation regime. It is a remarkable feat, especially in a region that has […]
SWIFT creates financial sector API blueprint
SWIFT has today published a blueprint for common API standards following collaboration with European banking standards bodies, STET and Berlin Group NextGenPSD2 – who together represent many of the region’s banks and payment service providers. As pressure from regulators and customers shift banking towards more open access to financial services, SWIFT is playing a lead […]
Sage Foundation Donates £25,000 to Non-profit Organisations at GITEX
Sage Foundation, the philanthropic arm of Sage, awarded £25,000 (AED120,787) worth of grants for the Big Give Live, a social impact initiative that provides non-profits with access to human and financial capital at GITEX Technology Week 2018, in Dubai. The initiative is part of Sage’s efforts to invest in non-profit organisations that help disadvantaged communities […]
Nabta Startup Wins First Place at Accenture Innovation Awards During GITEX Technology Week
Accenture has recognized leading startups at its second Accenture Innovation Awards held during GITEX Technology Week 2018. The initiative, in partnership with Expo 2020 Dubai, Fintech Hive at DIFC and Etisalat Digital, recognizes up-and-coming start-ups that play a major role in changing and improving aspects of people’s lives. The awards are part of the company’s […]
Cisco Announces Appointment of Salman Faqeeh as Managing Director of Cisco Saudi Arabia
: As part of its commitment to invest in supporting and developing local talent and encouraging the future leaders who have the potential to contribute towards the development of the technical sector and the national economy, Cisco, the worldwide leader in technology, announced the appointment of Salman Abdulghani Faqeeh as Managing Director for Cisco Saudi […]
Ghassan Aboud Group Appointed as Hindustan Petroleum Distributor
UAE headquartered multi-business conglomerate Ghassan Aboud Group was appointed as a Distributor for export markets by Indian public sector petroleum giant Hindustan Petroleum Corporation Limited (HPCL) through its 100% subsidiary in the UAE, HPCL Middle East FZCO. HPCL is a Global Fortune 500 company with US$ 35 billion in revenues, that owns and operates the […]