Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
Infor Wins Major Digital Contract to Support Danube Home’s Regional Expansion
Infor, a leading provider of industry-specific cloud applications, today announced that Danube Home has invested in Infor SCE – a leading WMS (warehouse management system) – and its Infor OS (operating services platform) to accelerate its digital transformation as the company expands across the region. Infor’s implementation partner involved in the implementation is Vinculum, the […]
Sabre establishes Travel Solutions organization, expands technology leadership team to accelerate strategy and better serve customers
Sabre Corporation (NASDAQ: SABR) today announced changes to its organizational structure and additions to its technology leadership that reinforce the company’s commitment to the next generation of retailing, distribution and fulfillment while accelerating development of the world’s most advanced travel platform. Dave Shirk has been promoted to executive vice president and president of Travel Solutions, […]
Huawei Tech Investment Saudi Arabia’s Market Share Increases by 27%
Huawei Consumer Business Group (CBG), has increased its market share in the MEA by 31.25%, according to the GFK May 2018 report, showing strong device performance and steady growth in the region. In May 2018, GFK reported that Huawei CBG market share in the Middle East and Africa was 21%, an increase of 31.25% when […]
Selfie Nation: New Study Finds that More Than Half of the Saudi Arabia & UAE Residents Take Selfies Every Day
Unless you’ve been living under a rock – and likely even then – you’ve definitely taken at least one selfie. Now an official word in the English dictionary, the ‘selfie’ isn’t just a passing craze, it’s a defining revolution that’s influenced human psychology, sociology and technological advances. Selfies have become the new mirror thanks to […]
Mohammed Bin Rashid Al Maktoum City, District One announces strategic partnership with Dubai Islamic Bank offering an exceptional payment plan for its apartments and villas
Mohammed Bin Rashid Al Maktoum City, District One, announces a strategic partnership with Dubai Islamic Bank to offer customers an exceptional extended payment plan for its luxury apartments and villas. Mohammed Bin Rashid Al Maktoum City, District One; a luxurious & elegant lifestyle community, and located minutes away from Downtown Dubai. It brings together a […]
UAE to lead the world in VAT innovation
A recent report by Global Innovation Index 2017 stated that UAE ranks 1st in MENA region in terms of innovation. The United Arab Emirates has always adopted an innovative methodology, noting that innovation has become a future necessity for the development of world nations. And with the introduction of Value Added Tax (VAT) this year, UAE […]
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Jean-Pascal Tricoire appointed to the Board of the United Nations Global Compact
UN SecretaryGeneral Antonio Guterres has appointed Jean-Pascal Tricoire, President of Global Compact France and Chairman & CEO of Schneider Electric, to the United Nations Global Compact Board. The UN Global Compact Board plays an important role in shaping the strategy and policy of the initiative, which acts as the United Nations flagship for responsible business […]
ALMANSOORI DELIVERS FACILITIES FOR KENYA’S FIRST OIL WELLS
AlMansoori Specialized Engineering, the leader in oilfield services in the Middle East, has successfully contributed to the Early Oil Pilot Scheme (EOPS) launch leading to Kenya’s first oil production and export programme by providing facilities for the landmark project. The $15 million contract with Tullow Oil, part of Kenya’s EOPS, included the provision of degassing […]
SADAFCO holds successful Extraordinary General Assembly Meeting
Saudia Dairy and Foodstuff Company (SADAFCO) has successfully held its Extraordinary General Assembly Meeting (EGM) earlier last week in Jeddah and concluded formalities for the company’s 2017-18 Financial Year results. The annual general meeting was deemed as being Extraordinary as one of the items on the agenda was approval of several changes in Company Law […]
Gartner Says 5G Networks Have a Paramount Role in Autonomous Vehicle Connectivity
5G networks may be as much as 10 times more efficient than 4G networks. With this new level of network capability, communications service providers (CSPs) can secure future market opportunities with manufacturers of autonomous vehicles (AVs) in the fields of driver safety and data processing and management, according to Gartner, Inc. AV systems and sensors […]
Starbucks successful Saudization campaign gathers pace
Saudi employment jumps from 9% in January 2017 to 23% in July 2018 Starbucks, the world’s leading coffee brand, announced that its efforts to localize jobs in its outlets in Saudi Arabia have paid off, with increasing number of Saudi men and women now joining the company in various positions. Launched in 2017, Starbucks’ ongoing […]
Korn Ferry Study Reveals Company Payrolls in KSA Could Soar Long-Term
Salaries for highly skilled workers could boom as talent shortages take hold across EMEA, according to The Salary Surge, a new study* by Korn Ferry (NYSE: KFY) as part of an ongoing Future of Work research project. Left unchecked, the salary surge could add more than $2.5 trillion to annual payrolls by 2030 in 20 […]
DirectFN is supporting HSBC Saudi Arabia to be the first electronic custodian in Saudi Arabia
DirectFN is supporting HSBC Saudi Arabia to be the first electronic custodian in Saudi ArabiaRiyadh, June 27, 2018: HSBC Saudi Arabia, one of the largest custodians in the Kingdom of Saudi Arabia, has succeeded in becoming the first company to establish the first electronic link for a custodian with the Saudi market through the ICMS […]
AI to help inform investment decisions in next 5-10 years in new ‘Future of Investment Research’ report by Thomson Reuters and Greenwich Associates
56% of institutional investors expect to increase the level of artificial intelligence (AI) integration with the investment process and 40% expect to increase their budgets for AI according to a new Thomson Reuters and Greenwich Associates report. Additionally, 70% of respondents have either implemented alternative data or plan to in next 12 months as an […]
FinTech Drives GCC Cybersecurity Market to USD 8 Billion in 2018
From facial recognition and iris scans, to crypto currency, the UAE’s banking and finance security innovation is driving the GCC’s cybersecurity market to USD 8 billion in 2018, industry experts announced today. UAE banks are rapidly deploying multi-factor authentication to confirm a person’s identity, with several factors, such as a smartphone, a password, and a […]
CoreSite Enhances Open Cloud Exchange with Ciena’s Blue Planet
CoreSite Realty Corporation (NYSE:COR), a premier provider of secure, reliable, high-performance data center and interconnection solutions, today announced that it will be launching an enhanced Open Cloud Exchange platform, utilizing Ciena’s Blue Planet® Multi-Domain Service Orchestrator (MDSO). The enhanced Open Cloud Exchange platform, which is expected to be fully operational in early July, will provide […]
X-Cite Opens its 5th Showroom in Riyadh
X-Cite electronics, the major electronics retailer that is owned by Alghanim Industries, has opened its fifth showroom in Al-Yasmeen District, Al-Thumamah Road, Riyadh. The opening of Al-Thumamah showroom will be followed by the opening of Al-Othaim Mall branch during this month, and two other showrooms before the end of 2018. This rapid expansion is part […]
Area 2071 and SAP Collaborate on UAE Public Sector Excellence
Area 2071, the physical embodiment of the UAE Centennial 2071 Plan, has announced that it will be collaborating with global technology company SAP on innovations to help inspire creative minds and fuel digital government. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates (UAE), and Ruler […]
Al-Watania for Industries (WFI) achieves Integrated Management Systems Certification from Intertek
Intertek, a leading Total Quality Assurance provider to industries worldwide, has granted Al-Watania for Industries (WFI), a leading downstream manufacturing company in Saudi Arabia, the globally-recognised ISO 9001:2015, ISO 14001:2015 & OHSAS 18001:2007 certifications. The three certifications were awarded to WFI for successfully meeting the international standard requirements for implementing integrated Quality, Environmental and Occupational […]
Emdadat Transforms Healthcare with SAP Ariba
Today’s healthcare consumers are more educated and demanding than ever. To meet their expectations requires a well-oiled supply chain. And Emdadat is delivering it. Using solutions from SAP Ariba, the company has created a digital marketplace through which medical providers and suppliers can connect and collaborate across the entire procurement process to increase their efficiency […]
Gartner Says Worldwide Application Infrastructure and Middleware Market Grew 12 Percent in 2017
A significant shift toward digital business models that harness technology trends such as cloud computing, Internet of Things (IoT), analytics and artificial intelligence (AI) is boosting worldwide spending on application infrastructure and middleware (AIM). Gartner, Inc. numbers show that AIM market revenue reached $28.5 billion in 2017, an increase of 11.9 percent from 2016 (see […]
INTERNATIONAL INNOVATION EXPERTS GATHER AT MIT FOR ‘DESIGN THINKING’ WORKSHOP IN SUPPORT OF MBR GLOBAL MAKERS CHALLENGE
Global innovation experts gathered in the United States at the ‘Solve at MIT’ Forum have designed a new set of challenges surrounding what they believe are the world’s most pressing sustainability issues, particularly those involving energy, rural transformation and hunger, digital divide and digital literacy. Interactive sessions, held at the forum and led by the […]