Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
China’s Tai Cloud announces launch of UAE operations
Beijing Tai Cloud Technology, the first blockchain company in China’s new OTC market (stock code: 430070), has announced the launch of its UAE operations aimed to leverage opportunities of trading in blockchain technology. Tai Cloud is a pioneer in the research and application development of the blockchain technology system in the People’s Republic of China. […]
SWIFT’s African Regional Conference to gather up to 500 financial professionals in Kigali, Rwanda on 20-22 June 2018
SWIFT will hold the 25th edition of its SWIFT African Regional Conference (ARC) in Kigali, Rwanda on 20-22 June. Supported by the National Bank of Rwanda, ARC 2018 will bring together up to 500 high level financial representatives from across 50 countries. Under the theme ‘Transforming the future – driving a new digital economy’, delegates […]
Cloud Catalyzes Saudi ICT Market to Top SAR 127 Billion
As the Saudi ICT market tops SAR 127 billion, cloud investment will fast-track Saudi Vision 2030 goals and Smart Cities growth, according to the newly-appointed Managing Director of Saudi Arabia, SAP. Cloud investment is gathering momentum, with Saudi organizations increasing software spend by 5.5 percent, increasing the Saudi ICT market to SAR 127 billion, according […]
Successful Demonstration of INVISTA’s Latest P8 PTA Technology in China
INVISTA Performance Technologies (IPT) announces the success of its latest P8 PTA technology deployed on Jiaxing Petrochemical’s second PTA Line. Started up in record time in December 2017, the plant is now consistently operating at 100 percent design rate with a variable cost performance better than target, firmly establishing Jiaxing Petrochemical’s second PTA Line as […]
World Green Economy Summit 2018 to kick off in October amid growing adoption of new technologies
The annual World Green Economy Summit (WGES 2018) will be organised in Dubai to tackle global issues and important strategies, including the digital age and its impact on building a ‘green’ and sustainable future growth across industries. This was announced today by the organising committee of the fifth World Green Economy Summit ‘WGES 2018’. WGES […]
Kaspersky Lab Partners to Fuel Amna Al Qubaisi’s Drive for Success
Kaspersky Lab, a long-standing partner of Abu Dhabi Racing, has extended and expanded its partnership with Amna Al Qubaisi, the first Arab woman to compete in Formula 4. Al Qubaisi is a member of the PREMA racing team, and Kaspersky Lab has sponsored her since 2017. Amir Kanaan, Managing Director – Middle East, Turkey and […]
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Kingdom Witnessing “Major Economic Transformation”, say Experts at Euromoney Saudi Arabia Conference
The 13th Euromoney Saudi Arabia Conference opened in Riyadh today, welcoming 1,700 delegates from 28 countries and influential speakers scores. Attracting delegates from across the Middle East and beyond, the two-day forum, which concludes tomorrow, explores financial opportunities and challenges in the Kingdom. His Excellency Mohammed Al-Jadaan, Minister of Finance, Kingdom of Saudi Arabia, officially […]
SAP’s Data Center for Public Cloud Goes Live in Saudi Arabia, Empowering Saudi Vision 2030
Today marks a major milestone in Saudi’s digital transformation, as global technology company SAP announced the first live Public Cloud Data Center in the Kingdom, empowering Saudi Vision 2030 and beyond. As Saudi organizations invest heavily in cloud solutions, the Saudi IT market is set to reach SAR 33 billion in 2018, according to a […]
Saudi media delegation visit Huawei Headquarters in China and given insider access to high-tech facilities
A delegation of Saudi media visited Huawei headquarter in Shenzhen City, China and toured the facilities of the company across two major cities in China. In order to give the journalists an understanding of the latest ICT solutions role in the digital transformation era and how ICT can assist the Saudi government in their efforts […]
Etisalat Group Reports consolidated revenues of AED 13.1 billion in first quarter of 2018
Etisalat Group today announced its consolidated financial statements for the three months ending 31st March 2018. Financial Highlights and Key Developments of Q1 Aggregate subscriber base reached 144 million, representing a year over year increase of 3%. Consolidated revenues amounted to AED 13.1 billion, representing an increase of 5% year over year. Consolidated EBITDA totaled […]
Over 50% of Saudi women believe that not having the right skills to be employed is the biggest myth hindering their success
More than half (52%) of women in Saudi Arabia believe the perception that they are not equipped with the necessary skill sets to join the workforce in the Kingdom is the biggest myth hindering their success and employment. This is according to a new research from LinkedIn, the world’s largest professional network with over 546 […]
Serco Middle East expands its growth and development team by appointing Ayesha Sultan as Managing Director Growth.
Serco Middle East, a leading provider of public services has expanded its Growth team in the region by appointing Ms. Ayesha Sultan as Managing Director Growth. Ayesha Sultan, a UAE National, is a tri-lingual strategy and investment professional with over 18 years of experience across the UAE, UK and France, with multinational organisations including Dubai […]
Cisco Connect 2018 to Highlight Growing Opportunities Presented by Saudi Arabia’s Digital Acceleration
Themed ‘Your Time is Now’, Cisco’s flagship technology forum returns to Saudi Arabia to address how digital transformation is fundamentally changing the business landscape. Held at the Hilton Hotel, Jeddah, from 27-28 March, Cisco Connect will bring together regional technology and business decision makers to drive the Kingdom’s digitization agenda and discuss the opportunities and […]
SOUQ.com Collaborates with Saudi Electronic University to Support the Saudi Vision 2030
SOUQ.com, an Amazon company, signed a memorandum of understanding with the Saudi Electronic University, represented by the College of Administrative and Financial Sciences, for an initiative that allows for knowledge exchange, student projects and internship opportunities. The memorandum was signed at the University’s headquarters in Riyadh by Dean of the Administrative and Financial Sciences College […]
HUAWEI Consumer Business Group An On-going Commitment Towards Investing in Innovation Quality
According to the latest China-leading brand rating organization (C-NPS), HUAWEI has overtaken all its competitors for the first time with a score of 17.8 points, as the C-NPS Customers Most Recommended Brand in China’s Mobile Phone Industry 2018 making it the first ever local mobile phone brand to take the first place on this list. […]
World’s largest organic dairy producer launches organic milk in Saudi Arabia
Arla Foods, the world’s largest producer of organic dairy products, has launched its first branded organic milk in Saudi Arabia. This is as part of the farmer-owned company’s ambitious business strategy to become the number one organic dairy brand in the Middle East and North Africa by 2020. A recent report suggests that a rise […]
Xerox and CCS talk about the future of work
In its continuous endeavor to deploy smarter document solution strategies while helping channels to further expand their revenue streams, Xerox and CCS are launching ‘The Future of Work’ series. Part of the larger GCC roadshow focused on the launch of ConnectKey products and solutions, Dubai event will highlight the importance of digital transformation that caters […]
A big step forward! HUAWEI rose to 25th spot on Brand Finance Global 500 2018
Brand Finance, the global authoritative consulting agency, released its ranking of the most valuable brands around the world in 2018. HUAWEI ranked twenty-fifth on Brand Finance Global 500 2018 with a value of 38.046 billion dollars, and its brand value increased by more than 50%. Brand Finance, as the world famous brand value and strategy […]
Starbucks and EFE Support Saudi Vision 2030
03 March 2018: In context to support the Saudi Vision 2030 of empowering the Saudi youth with the right opportunities, Starbucks KSA and Education For Employment (EFE) have partnered together to introduce a series of workshops that will be focused on nurturing and inspiring the youth of KSA and helping them make a valuable contribution […]
Gartner Says Nearly Half of CIOs Are Planning to Deploy Artificial Intelligence
Meaningful artificial intelligence (AI) deployments are just beginning to take place, according to Gartner, Inc. Gartner’s 2018 CIO Agenda Survey shows that four percent of CIOs have implemented AI, while a further 46 percent have developed plans to do so. “Despite huge levels of interest in AI technologies, current implementations remain at quite low levels,” […]
Xerox Named as one of World’s Most Ethical Companies for 12th Consecutive Year
Xerox (NYSE: XRX) has been recognized by the Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices, as one of the 2018 World’s Most Ethical Companies. Xerox has been recognized every year since 2006 and is one of only two honorees in the Information Technology Services industry, underscoring their […]
Apprehensions edge away as VAT becomes the new normal norm
Value-Added Tax (VAT) has been the subject of discussions, debates, reviews, and opinions in 2017. The anxiety and fear that surrounded this term were not just extraneous but placed unnecessarily. But with the onset of 2018, life moved on! The UAE introduced a 5 percent VAT starting January 2018 with a standard return filing period […]