Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
Key cyber threat areas for governments and organizations in the Gulf
As the cyber threat landscape continues to evolve, it is imperative for the government and private sector to pay attention to some of the most significant areas of heightened risk in the cyber environment, according to Booz Allen Hamilton. The cyber threat landscape in the Middle East is rapidly expanding – with attacks against regional […]
Gartner Says Huawei Secured No. 2 Worldwide Smartphone Vendor Spot, Surpassing Apple in Second Quarter 2018
In the second quarter of 2018, Huawei surpassed Apple to secure the No. 2 worldwide smartphone vendor position for the first time ever, according to Gartner, Inc. Apple moved into the No. 3 spot. Overall, sales of smartphones to end users grew 2 percent in the second quarter of 2018 to reach 374 million units. […]
Jordan’s Arab Medical Center Selects Infor to Digitally Transform the Patient Experience
Infor, a leading provider of industry-specific cloud applications, today announced that Arab Medical Center (AMC), a leading referral hospital for patients in the Middle East and internationally, has selected Infor CloudSuite Financials & Supply Management and Infor Enterprise Asset Management (EAM) to streamline its business operations and increase efficiency to improve patient care. The implementation […]
Gartner Says Worldwide IaaS Public Cloud Services Market Grew 29.5 Percent in 2017
The worldwide infrastructure as a service (IaaS) market grew 29.5 percent in 2017 to total $23.5 billion, up from $18.2 billion in 2016, according to Gartner, Inc. Amazon was the No. 1 vendor in the IaaS market in 2017, followed by Microsoft, Alibaba, Google and IBM. “The top four providers have strong IaaS offerings and […]
New Report Analyzes Strategic Role of Saudi SMEs in Accelerating Economic Diversification
As part of its Vision 2030 strategic plan, Saudi Arabia’s national attention has turned to the small & medium-sized (SME) sector as a fundamental source of economic dynamism whose growth and progress would benefit the country as a whole. With this pivotal focus in mind, the U.S.-Saudi Arabian Business Council (“the Council”) is pleased to […]
MENA Data Center Spend to Reach Record USD 5 Billion by 2020
As the Middle East accelerates its digital transformation and Smart Cities growth, regional data center spend will reach a record-high of USD 5 billion by 2020, industry experts announced today ahead of GITEX Technology Week. Middle East and North Africa data center spend to reach a record high of USD 5.1 billion by 2020, increasing […]
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LG EXPANDS INVESTMENTS IN ROBOT INNOVATORS
LG Electronics’ recent investment in US-based Bossa Nova Robotics marks the first overseas investment in a robotics partner by LG following a number of deals with Korean startups over the past year. In total, LG has committed over USD 90 million to robotics startups in the first 12 months of its investment initiative. Bossa Nova […]
LG EXPANDS INVESTMENTS IN ROBOT INNOVATORS
LG Electronics’ recent investment in US-based Bossa Nova Robotics marks the first overseas investment in a robotics partner by LG following a number of deals with Korean startups over the past year. In total, LG has committed over USD 90 million to robotics startups in the first 12 months of its investment initiative. Bossa Nova […]
LG EXPANDS INVESTMENTS IN ROBOT INNOVATORS
LG Electronics’ recent investment in US-based Bossa Nova Robotics marks the first overseas investment in a robotics partner by LG following a number of deals with Korean startups over the past year. In total, LG has committed over USD 90 million to robotics startups in the first 12 months of its investment initiative. Bossa Nova […]
The 2nd Edition of the Phanes Group Solar Incubator set to kick off 7th August 2018
Phanes Group, an international end-to-end solar provider headquartered in Dubai, UAE, has announced the 2nd edition of its Solar Incubator program, aimed at identifying PV projects of potential in sub-Saharan Africa by providing support to funding, and commercial and technical knowledge. The initiative held under the theme, “Your Project, Our Expertise, For a Sustainable Future”, […]
Salama Cooperative Insurance Co. “SALAMA” partners with InfoFort KSA to introduce automation robots
InfoFort, an Aramex company and leading information management solution provider in the Middle East and Africa, today signed an agreement with Salama Cooperative Insurance Company, a leading Saudi based company with more than 35 years of global experience in motor, medical, travel, malpractice and general insurance. As per this agreement, InfoFort will roll-out its Robotic […]
Huawei Consumer Business Group Announces 2018 H1 Business Results
Huawei Consumer Business Group (CBG) announced its business results for the first half of 2018. The company reported solid growth, with global smartphone shipments at 95+ million units. According to IDC, Huawei rises to become the world’s second largest smartphone manufacturer in Q2 with the global market share of 15.8%. Richard Yu, CEO of Huawei […]
Thomson Reuters Hosts 10th Annual Compliance and Anti-Money Laundering Seminar in Saudi Arabia
Thomson Reuters will host the 10th Annual Compliance and Anti-Money Laundering Seminar on September 26 & 27, 2018 in Riyadh, Kingdom of Saudi Arabia. The seminar, which celebrates its tenth round this year, will take place in partnership with the Institute of Finance of the Kingdom of Saudi Arabia and under the patronage of His […]
Sabre appoints new head of finance for the Middle East
Sabre Corporation (NASDAQ: SABR), the global technology provider to the travel and tourism industry, has appointed Sumit Chaudhary as head of finance for Sabre Travel Network Middle East (STNME). Sumit will lead financial operations for the Middle East, a key growth area for Sabre. He is tasked with optimizing financial performance across the region, as […]
Uber introduces personal accident insurance for Driver and Delivery Partners across Saudi Arabia
Uber today announces the launch of ‘Injury Protection’ – a new insurance program which covers Driver and Delivery Partners who use Uber across Saudi Arabia – in partnership with AXA, one of the world’s most trusted insurer. Stemming from the company’s global commitment to the safety and security of its Driver and Delivery Partners, a […]
TADAWUL PUBLISHES ITS ANNUAL REPORT ‘EXPANSION AND DIVERSIFICATION’
The report provides details on Tadawul’s 2017 performance, during which Tadawul ranked as the 25th largest stock market of the World Federation of Exchanges, with a market capitalization of 451 billion USD at the end of 2017. Furthermore, the report reveals Tadawul’s significant growth in net income reaching 129.8 million SAR at 31 December 2017 […]
Tally Solutions expresses positive sentiments about the new announcement
The United Arab Emirates is the most preferred tourist destination in the Middle East and to continue its positive momentum, tourists visiting the country will be entitled to claim back any Value Added Tax (VAT) payments they are charged. “The UAE has become a regional magnet for foreign investors and tourists, and the move to […]
Ajman Media City Free Zone, The Brand New Investment Hub Of UAE, Announces A Strong Portfolio Of Cost Effective Business Services
Ajman Media City Free Zone, a world-class free zone hub for the creative, media, and entertainment industry announce customer-friendly cost-effective packages for new business set-up in the UAE. H E Sheikh Abdul Aziz bin Humaid Al Nuaimi, Chairman of Ajman Media City Free Zone said ahead of the official launch of the free zone: “Globally, […]
Dr. Sheikh: Privatization of the Aviation Sector is Set to Strengthen the Saudi – US Partnership Subtitles
Dr. Sheikh: Privatization of the Aviation Sector is Set to Strengthen the Saudi – US Partnership Subtitles• Acquisition of the technology in exchange for local unprecedented accesses the key for success in the Saudi market• Saudi-US partnerships form a sustainable economic alliance by enabling companies to expand beyond their borders and reach new markets• Privatization […]
Canon highlights importance of Customer Delight during Service Partners’ Forum 2018
Canon Middle East hosted the Service Partners’ Forum 2018, bringing together heads of the service function from partner organisations across the Middle East. Three directors from Canon Europe joined Canon Middle East executives to lead sessions during the forum, which took place in Dubai. Attendees learnt about Canon’s updated service solutions and products, and were […]
SAUDI STOCK EXCHANGE ADDED TO S&P DJI INDEXES
The Saudi Stock Exchange (Tadawul) is pleased to announce today that S&P Dow Jones Indices (S&P DJI), a leading provider of global equity indexes, upgraded the Kingdom of Saudi Arabia to “Emerging Market” from its previous “Standalone Market” country classification. The move by S&P DJI follows the recent decisions by MSCI and FTSE Russell to […]
180725-Corporates pilot new multi-bank payments tracking on SWIFT gpi
SWIFT, along with a number of corporates and banks, today announces plans to start testing an enhanced multi-bank standard to further improve the cross-border payments experience for multi-banked corporates. This enhanced standard, designed and built in conjunction with 10 multinational corporates and 12 leading banks, streamlines the process for corporate treasurers by allowing them to […]