Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
Cloud Enables Saudi Arabia’s Future Tech, Says 83 Percent of IT Decision-Makers
Cloud is the foundation for Saudi business and Smart Cities innovation, with 83 percent of IT-decision makers saying cloud is important for integrating artificial intelligence, machine learning, Internet of Things, and blockchain, according to a new YouGov survey launched today during GITEX Technology Week. Public-private partnerships are bringing to life Smart City deployments, especially NEOM. […]
UAE to tap into US$ 11.5 billion digital health start-ups industry, says new Arab Health report
Arab Health, the largest exhibition for healthcare and trade professionals in the MENA region, has outlined the role of tech start-ups in playing a more vital role in the healthcare industry in areas such as personalized medicine and more efficient technology-enabled care models. The report titled “Technology: Accelerating Innovation Across Healthcare” revealed that digital health […]
Back to basics: VAT Accounting 101
It has been ten months since the introduction of value-added taxes in the UAE, and the tax returns deadlines have come and gone. As part of my job, I regularly meet with start-ups, small and medium businesses and enterprises, and it is surprising to learn that there is still significant uncertainty about VAT, and how […]
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 Arabia […]
Gartner Survey Finds Governments Making Slow Progress with Digital Initiatives
Digital business initiatives are high on governments’ agendas. However, governments’ ability to scale these initiatives is increasing slowly and progress lags behind that of other industries, according to a survey* by Gartner, Inc. Half the government respondents to the survey are looking to digital government to support a combination of transformation and optimization goals. The […]
SABB and Emirates Skywards launch Visa co-branded credit card
SABB, Emirates Skywards and Visa have partnered to launch the SABB Emirates Visa Signature Credit Card. The first Emirates Skywards co-branded card in Saudi Arabia, the card offers customers the opportunity to earn Skywards Miles whilst enjoying a range of benefits both in Saudi Arabia and internationally. The agreement was signed at a ceremony held […]
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SMART CROWD CLOSES SEED FUNDING ROUND WITH OVERSUBSCRIBED $600,000 INVESTMENT
Smart Crowd, the innovative new real estate crowd funding investment platform, is celebrating the successful completion of its Seed funding round – having attracted major financing from one of the region’s leading investment firms – Shorooq Investments – along with backing from cutting-edge DLT firm Abaxx Technologies; early-stage venture fund and seed accelerator, 500 Start-ups, […]
SOUQ.com shows commitment to the employment of women as the gold sponsor of Glowork Career Fair in Saudi
SOUQ.com today announced its participation as the gold sponsor of the Glowork Career Fair that aims to encourage more women into the Kingdom’s workforce. Under the patronage of HRH Reema Bint Bandar Bin Sultan Al Saud, Glowork is the largest women’s employment and recruitment event in the Middle East and will be held in Riyadh […]
UAE Contributes AED12.5 Billion to Support Bahraini Fiscal Balance Programme
The United Arab Emirates (UAE) signed a financial cooperation agreement worth AED12.5 billion (US$3.4 billion) with the Government of Bahrain to support the financial stability of the country and stimulate its economic growth. The contribution will be managed by Abu Dhabi Fund for Development (ADFD), the leading national entity for development aid. The AED12.5 billion […]
Unprecedented Global Study Finds Saudi Arabia Ranks 65th Among Nations Investing in Education and Health Care
Saudi Arabia ranks 65th in the world for its investments in education and health care as measurements of its commitment to economic growth, according to the first-ever scientific study ranking countries for their levels of human capital. The nation placed just behind Bosnia and Herzegovina (ranked 64th) and just ahead of Argentina (ranked 66th). Saudi […]
SOUQ.com shows commitment to the employment of women as the gold sponsor of Glowork Career Fair in Saudi
SOUQ.com today announced its participation as the gold sponsor of the Glowork Career Fair that aims to encourage more women into the Kingdom’s workforce. Under the patronage of HRH Reema Bint Bandar Bin Sultan Al Saud, Glowork is the largest women’s employment and recruitment event in the Middle East and will be held in Riyadh […]
ALMALL: New Saudi E-Commerce App that Supports Both Local and International Brands
At the glamorous Ritz-Carlton Hotel in Jeddah, SRPC celebrated the launch of ALMALL app in the presence of a large number of high-profile businesswomen and men, media personalities, and e-commerce professionals. The platform is a new e-shopping station that brings together consumers and brand owners from within and outside the Kingdom. The entertainment was provided by the […]
SWIFT launches gpi Observer Analytics tool
SWIFT is launching a Business Intelligence gpi Observer Analytics tool, a new resource for gpi banks to gain more comprehensive business insights into their gpi traffic flows. The unique market and competitive analysis that gpi Observer Analytics provides will allow financial institutions to act on reliable and fact-based information to understand the current itinerary and […]
GEZE Is One of Germany’s Most Innovative Companies TOP 100 Award For Exceptional Innovation Success
GEZE was awarded the prestigious TOP 100 Award, securing its position as one of Germany’s most successful SME innovators. Gerald Haas, GEZE Managing Director Research & Development, accepted the award from TOP 100 Award. The key competitive factors when evaluating the listed companies were ‘Climate of Innovation’, ‘Innovative Processes and Organisation’, ‘Innovation-friendly Senior Management’ and […]
Middle East and North Africa Enterprise Software Market to Top USD 760 Million in 2018
Digital consultancies are vital for Middle East organizations to break through the digital transformation impasse, which is seeing the paradox of record-high IT spend, but 60 percent of organizations needing to transform their digital toolset to succeed. The Middle East and North Africa is seeing record-high enterprise application software spend, with IDC projecting it to […]
Korn Ferry 2018 Salary & Benefits Study Shows Strong Results for Saudi Companies Translating to Employee Salary Increases
New data from the Korn Ferry 2018 Salary and Benefits Study shows positive signs that the Saudi Arabia economic transformation strategy is helping drive strong business results. Those results are translating into measurable salary and bonus increases for employees at all levels, with “high performers” reaping the greatest benefit with bonus pay outs averaging 120% […]
Thomson Reuters & The Institute of Finance Inaugurate 10th Compliance and Anti-Money Laundering Seminar in Saudi Arabia
Thomson Reuters inaugurated the 10th Compliance and Anti-Money Laundering Seminar in association with the Institute of Finance and under the patronage of His Excellency Dr. Ahmed Abdulkarim Akholifey, Governor of the Saudi Arabian Monetary Authority (SAMA) and Chairman of Anti-Money Laundering Permanent Committee (AMLPC) Speaking at the opening ceremony, Dr. Fahad AL Shathri, Deputy Governor […]
World Green Economy Summit 2018 to underscore role of youth in global green economy movement
The World Green Economy Summit (WGES) 2018 is set to emphasize the role of young men and women in global efforts to build a green economy when it opens in Dubai in October. Organizers of WGES announced as the UAE joins the worldwide celebration of the United Nations’ International Youth Day, marked on Sunday, 12 […]
World Future Energy Summit Rebrands to Stress All Forms of Sustainability
The World Future Energy Summit (WFES) has made significant changes for its 2019 edition, combining all aspects of sustainability under one global brand. The annual event, hosted by Masdar, and an integral part of Abu Dhabi Sustainability Week, will see its summit, forums and six co-located exhibitions integrated under the powerful WFES brand, with business […]
“ALMALL” the Region’s Newest Online Shopping Destination
Following Crown Prince Mohamed Bin Salman’s ascension to his role last year, Saudi Arabia has been working towards realizing a complete transformation of its economy and society based on key objectives set under its Vision 2030, a national strategy to modernize its economy and diversify the country’s economy, moving it away from oil dependency. As […]
Robinsons to Open its Second GCC Branch in Saudi Arabia
Following the unprecedented success of its opening in Dubai, Robinsons’ announces its new branch opening in the GCC in Riyadh. The new branch will provide shoppers with a unique shopping experience as it joins a selection of luxury brand outlets in the Kingdom Center, one of Riyadh’s largest malls. His Royal Highness Prince Al-Waleed bin […]
Salesforce Expands the Sales Cloud Platform with Faster Prospecting, Flexible Billing and Intelligent Marketing Automation
Salesforce [NYSE: CRM], the global leader in CRM, today announced advancements to the Sales Cloud platform, delivering a faster, smarter and more integrated sales process from lead-to-cash. Now, companies can complete the entire sales process, from marketing to sales to billing, right within Salesforce. “Automation, integration and speed are essential to business success in the […]