Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
Huawei Announces Q3 2020 Business Results
Riyadh, Saudi Arabia 26 October 2020 – Huawei announced its business results for the first three quarters of 2020. During this period, Huawei generated CNY671.3 billion in revenue, an increase of 9.9% over the same period last year. The company’s net profit margin in this period was 8.0%.[1] Throughout the first three quarters of 2020, […]
HUAWEI now offers safe and contactless digital payment options with the launch ofMondia Pay on HMS in the MEA Region
Huawei, in cooperation with digital payment entity, Mondia Pay, now offers Direct Carrier Billing service (DCB), for seamless, contactless payments for users in the MEA region through HUAWEI Mobile Services (HMS). Mondia Pay is a leader in the digital payment space and provides a simple, fast and secure way for consumers to pay for services […]
Huawei: Creating New Value with Synergy Across Five Tech Domains
[Shanghai, China, September 23, 2020] HUAWEI CONNECT 2020 opened today in Shanghai. HUAWEI CONNECT is an annual flagship event hosted by Huawei for the global ICT industry. It is a platform where Huawei discloses its major strategies. In 2016, Huawei envisioned an intelligent world and called upon its partners worldwide to build a diverse and thriving […]
Latest disclosure shows HSBC ‘accomplice’ of U.S. political scheme against Meng Wanzhou
The lawyers of Meng Wanzhou, CFO of Chinese telecom giant Huawei, accused the U.S. authorities of misleading the Canadian court overseeing the Huawei chief financial officer’s extradition hearing, referring to new court filings released on Thursday. Meng’s lawyers submitted content omitted in the U.S. records of the case, as well as emails between Huawei and […]
Apple One makes enjoying Apple subscription services easier than ever
Apple One offers customers Apple Music, Apple TV+, Apple Arcade, iCloud, and more services in one simple plan Cupertino, California — Apple today announced Apple One, the easiest way to get all of Apple’s subscription services in one simple plan, including Apple Music, Apple TV+, Apple Arcade, Apple News+, Apple Fitness+, and iCloud. With a single […]
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A strategic partnership between HUAWEI and TPAY MOBILE to drive App monetization for developers in the MEA region
Huawei is cooperating with fintech company, TPAY MOBILE to make it easier and more convenient for developers in the Middle East and Africa (MEA) region to monetise their apps on HUAWEI Mobile Services (HMS). The first phase of the agreement will offer DCB services in 10 countries across MEA region, including all mobile subscribers. Huawei […]
Mitsubishi Power Established with Renewed Commitment to Transforming Energy Systems Around the World
– Mitsubishi Power, a major subsidiary of the Mitsubishi Heavy Industries (MHI) Group, officially changed its corporate name from Mitsubishi Hitachi Power Systems today. The rebrand marks the start of an exciting new chapter in the company’s mission to solve the foremost energy challenges of our time, including decarbonizing energy and bringing reliable power to […]
Fortinet Moves to a New Office in Riyadh, Saudi Arabia
Fortinet a global leader in broad, integrated and automated cybersecurity solutions, moved to larger office in Riyadh to better address customers’ needs and leverage the area’s diverse high-technology talent pool. The company moved from Riyadh – Business Gate C7 to the new tower in Business Gate C2. The new office space is approximately 2500 […]
Ford Announces Jim Hackett to Retire as President and CEO; Jim Farley to Succeed Hackett as Company Continues Transformation
Ford Motor Company today announced that Jim Hackett, who has led the company’s transformation since 2017, plans to retire from the company. Jim Farley has been named the company’s new president and CEO and will join the board of directors, effective Oct. 1. Hackett, 65, and Farley, 58, will work together on a smooth […]
Lenovo™ Launching New Global Partner Hub, Providing Personalized, Real-time Sales Tool Transformation
The new Lenovo Partner Hub marks an important step in the company-wide multi-year digital transformation program for business partners. Lenovo Partner Hub – launching in select geographical markets starting July 27 – reaffirms Lenovo’s commitment in fostering greater collaboration between business channel partners and Lenovo sales teams across business groups. Powered by advanced analytics, the […]
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Wipro to acquire 4C, a leading Salesforce multi-cloud partner in Europe and the Middle East, with deep Quote-to-Cash expertise
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting and business process services company, today announced that it has signed a definitive agreement to acquire 4C, one of the largest Salesforce partners in UK, Europe and the Middle East. Established in 1997 with its headquarters in Mechelen, Belgium, 4C is […]
The Pandemic Drives New Era of Tech Collaboration
By Rick Echevarria One hundred days ago, our CEO, Bob Swan, announced the Intel Pandemic Response Technology Initiative. Intel would invest $50 million to combat COVID-19 in ways we knew best: using technology to study and help with the diagnosis of the coronavirus, helping disrupted educators and students, and supporting innovative new ideas and projects. […]
Enjoy the First Ever Huawei’s Mega Discounts up-to 80% during “HUAWEI_Summer_Carnival” Starting this coming Sunday July 19
Huawei Tech Investment Saudi Arabia Company is showing support to consumers in Saudi Arabia with the “HUAWEI_Summer_Carnival” with huge discounts of up-to 80% on a wide range of products on the 19th of July starting at 9 PM till midnight of 20th of July As blessed Eid al-Adha fast approaches, Huawei Tech Investment Saudi […]
mada Pay App makes debut on HUAWEI AppGallery to bring flexibility of contactless payments
Today, Huawei Tech Investment Saudi Arabia Company, and in cooperation with Saudi Payments, launched the “mada Pay” application for the first time through the HUAWEI AppGallery application platform. This step will give the HUAWEI AppGallery users in the Kingdom the flexibility in using mada Pay, which has superior performance and security of Huawei smart devices. […]
Contactless Payments Made Easy with Newly Launched HONOR 9A
The ability to transfer funds using contactless payments has become increasingly important for smartphone users. As cashless economies are prioritized, mobile payments are becoming an expected part of everyday consumer transactions. The newly launched HONOR 9A has built in NFC technology, the first smartphone in its price point with this support enabled for seamless payments […]
DUBAI TRADE REINFORCES DIGITALISATION WITH UAE’S FIRST “E-DELIVERY ORDER”
Dubai Trade, DP World’s single window platform for cross border trade, has introduced the “Electronic Delivery Order”, a sophisticated new technological tool that will allow supply chain stakeholders to handle their complex import processes with just the click of a computer mouse. The E-Delivery Order is tailored to support trade, logistics and supply chain […]
TAWAL Achieves ISO Certification For its Outstanding International Safety Standards
The leading integrated ICT Infrastructure service provider in the Kingdom, TAWAL, receives ISO 45001 Occupational Health and Safety Management system, following the company’s meticulous compliance to the highest safety standards in the business. The ISO certification is a significant milestone and a unique steppingstone for TAWAL. It showcases the ICT giant’s swift ability and readiness […]
TPAY MOBILE Acquires Payguru, the Leading Payment Platform in the Middle East
TPAY MOBILE (www.tpaymobile.com), the leading digital merchant acquirer and mobile payment enabler in the Middle East and Africa (MEA), has today announced the acquisition of 100% of the shares of Payguru, one of the Middle East’s leading payment service providers. The transaction remains subject to regulatory approvals. Payguru offers mobile payments, ATM cash payments, and […]
How to Make Profitable Trades During the Pandemic
Despite the global situation, the markets are still providing significant opportunities for investors to trade profitably. Here are 3 assets that traders can utilize to take advantage of current market conditions. The global economic situation that has evolved in 2020 has created a major disruption in the general lives of people in most countries. […]
GfK Covid-19 Consumer Pulse report reveals new buying patterns
The COVID-19 crisis escalated across KSA in March starting with the first diagnosis on the 3rd leading to closure of malls, restaurants, and prayer at mosques on the 15th and declaration of a curfew on the 23rd. GfK conducted the Consumer Pulse study for a deeper understanding of current and future consumer behaviours, lifestyles, and […]
May 30, 2020 ViaBTC Group Announces Strategic Upgrade to Advance Innovation and Improve Customer Experience
ViaBTC Group, an innovative technology company specialized in blockchain and dedicated to providing users with comprehensive digital asset management services, today announced a strategic upgrade, which included a new organizational structure, product innovations and service improvements. As part of the change, the Group has established three dedicated business units (BU): the financial services BU, consisting […]
Lenovo Delivers Robust Revenue and All-Time Record Pre-tax Income for FY19/20, Weathering Global Economic Challenges to Emerge in Position of Strength
(HKSE: 992) (ADR: LNVGY) announced robust results for its full fiscal year and Q4, demonstrating the company’s position of strength amid unprecedented global transformation. Despite a fiscal year full of macro-economic and industry challenges, the company delivered full-year revenue exceeding US$50 billion (US$50.7 billion) for the second consecutive year. Profitability remained a strength, with historical […]