Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
Honor Doubles its Market Share in 2017 in KSA
Growth in accessible smartphones has fuelled the increase in Honor market share and revenue in 2017Honor, the leading smartphone e-brand under the Huawei Group, announced its market share growth in KSA for the first time since it disrupted the market in 2015. The brand has been introducing killer value smartphones and cutting-edge technology to the […]
Volvo Cars reports record operating profit of SEK14.1 billion in 2017
Volvo Cars, the premium car maker, has reported a strong 27.7 per cent increase in operating profit in 2017, earning a record SEK14.1 billion (U.S.$ 1.746 billion) compared to SEK11.0 billion (U.S.$ 1.367 billion) in 2016, driven by global sales of 571,577 cars. Net revenue for the period increased 16.6 per cent to SEK210.9 billion […]
39 days of VAT in GCC
The new year was heralded as the onset of the VAT regime in the GCC. It is now a little over a month since VAT has come into effect and while there are businesses who are yet to register, the overall economy is well into the VAT return filing rhythm. According to FTA, 260,000 businesses […]
NTT DATA and Oracle Insurance to Offer End-to-End Solution for Government Payers and Health Plans
NTT DATA Services, a recognized leader in global technology services and a Platinum Cloud Standard member of Oracle PartnerNetwork (OPN), today announced a new end-to-end solution in collaboration with Oracle Insurance designed to improve operational efficiencies for government payers and health plans. The new payment and benefits solution will manage all aspects of health insurance membership, claims […]
Cloud computing to pave the way for Saudi’s digital transformation
As the Kingdom of Saudi Arabia advances towards becoming a technology hub for the region, the country foresees cloud computing to grow by 25% by 2022. These findings were announced during the second edition of Microsoft Transform 2018, an event organized by Microsoft Saudi Arabia dedicated to encouraging conversation on digitalization and fostering the latest […]
Etisalat launches an innovative payment service for UAE’s SMB retail sector
tisalat today announced the launch of its Mobile Cashier service for the Small and Medium Business (SMB) segment in the country giving them a hassle-free on boarding and affordable mobile point-of-sale service that enables these businesses to accept card payments from their customers, and at the same time enjoy valuable mobile business plan benefits anywhere […]
Ad
Leviton Opens New Data Centre Factory
Leviton opened its new Data Centre Factory at its Glenrothes, Scotland, facility. The Data Centre Factory provides data centre managers with bespoke network infrastructure products, including pre-terminated cabling and cassette solutions, with rapid delivery. ‘Field terminations can be the most time consuming, labour intensive process of cable installation in a data centre network,’ said Ian […]
Premium products to enhance brand image and accelerate profitable growth for LG
With the desire to create a better lifestyle for consumers, underpinning LG’s premium product philosophy, LG plans to continue pursuing an innovative, energy efficient and a premium product market strategy, positioning the company as a technology innovator with a flair for convenience, design and style. The company aims to accelerate premium product strategy by enhancing […]
New VMware Research: The Digital Workspace Revolution is Employee-Driven
VMware, Inc. (NYSE: VMW), a global leader in cloud infrastructure and business mobility, today unveiled its annual report into the state of digital workspace technologies and their impact on businesses, which reveals that in Saudi Arabia, empowered employees, those who are granted greater access to the applications they prefer and need to do their job, […]
Saudi Hoteliers Need to Take the App Approach to Guest Experience
Hoteliers in the Kingdom of Saudi Arabia need to embrace digital platforms if they want to keep their guests happy, according to a new survey from Avaya (NYSE:AVYA). Saudi travelers are more keen on using hotel mobile apps than their counterparts in other GCC countries, according to the survey, with more than a third of […]
Citigroup Saudi Arabia Holds its Inaugural Board Meeting
Citigroup Saudi Arabia held lately its inaugural board meeting in Riyadh, ushering in a new era for Citi in the Kingdom, and setting the stage for the global bank to deploy its suite of corporate products on the ground to help support Saudi Arabia’s economic transformation. In April 2017, The Saudi Arabian Capital Market Authority […]
Union Insurance Selects DXC Technology to Accelerate Digital Transformation
DXC Technology (NYSE: DXC), the world’s leading independent, end-to-end IT services company, today announced that it has been selected by Union Insurance, a leading provider of customer-focused insurance products to individuals and corporations in the Middle East, to migrate its complete IT infrastructure and workloads to Amazon Web Services (AWS). DXC will work with Union […]
Coinciding with the expansion of its branch network Emirates NBD – Saudi Arabia sponsors Saudi Finance and Installment Exhibition as Gold Sponsor
Saudi Arabia presented a series of products at the Saudi Finance and Installment Exhibition which concluded its second edition recently. The exhibition, which provides financing products for individuals and small and medium enterprises (SME’s), as well as opening avenues of cooperation between banks, finance companies and entrepreneurs seeking successful investment plays an important role in […]
Gartner Says Worldwide Semiconductor Revenue Grew 22.2 Percent in 2017; Samsung Takes Over No. 1 Position
Worldwide semiconductor revenue totalled $419.7 billion in 2017, a 22.2 percent increase from 2016, according to preliminary results by Gartner, Inc. Undersupply helped drive 64 percent revenue growth in the memory market, which accounted for 31 percent of total semiconductor revenue in 2017. “The largest memory supplier, Samsung Electronics, gained the most market share and […]
Investment into future technology: GROHE starts operations at new zinc manufacturing facility in Klaeng – Rayong, Thailand
As part of the international growth strategy, GROHE invests in new zinc manufacturing, doubling the capacity More than 30 million USD invested and 800 new jobs to be created within five years The most sustainable plant in Southeast Asia Complementing recent investments in all three German factories GROHE, the world’s leading provider of sanitary fittings and part […]
Schneider Electric Renews MoU with National Grid Saudi Arabia to Increase Electricity Reliability
Schneider Electric and the National Grid Saudi Arabia (SA) renewed the 3-year long Memorandum of Understanding (MoU) signed 3 years ago to continue to provide the National Grid Saudi Arabia with reliable and cost-effective electricity in Saudi Arabia, through which National Grid SA and Schneider Electric will cooperate in developing and advancing electricity infrastructure in […]
Leading new ICT, the Road to Digital Transformation
Huawei, a leading global ICT solutions provider, kicked off Huawei Day KSA 2017 on Tuesday, December 26th, 2017 at the Four Seasons Hotel in Riyadh. Themed “Leading new ICT, The Road to Digital Transformation,” the event will showcase the role ICT is playing in driving digital transformation and building sustainable knowledge-based economies. Developing digital strategies […]
Grundfos CEO Delivers Important Remarks at the District Energy Systems for a Sustainable and Energy Efficient Future Conference 2017 in Turkey
Grundfos, the award-winning world leader in advanced pump solutions, took part in a keynote speech in the District Energy Systems for a Sustainable and Energy Efficient Future Conference 2017. The event, co-organized by the Danish Board of District Heating and the Trade Council of Denmarkin Turkey, was held on November 29 at the Swissôtel The […]
Ministry of Economy and Abu Dhabi Department of Economic Development Announcing the Launch of TIP Platform
The Ministry of Economy and the Department of Economic Development – Abu Dhabi have officially launched the TIP platform, A platform that will host a community of pioneers in technology and innovation locally, regionally, and globally. TIP will also have specialized sub-platforms and will soon launch an award managed by TIP. The launch took place […]
Avaya Successfully Completes Financial Restructuring and Emerges from Chapter 11
Avaya Holdings Corp. (“Avaya” or the “Company”) announced that it has successfully completed its debt restructuring and emerged from chapter 11. “This is the beginning of an important new chapter for Avaya,” said Jim Chirico, Avaya’s president and CEO. “In less than a year since the commencement of our chapter 11 restructuring, Avaya has emerged […]
Emaar Hospitality Group wins ‘Chinese Preferred Hotel’
Four premium luxury properties under Emaar Hospitality Group, the wholly-owned subsidiary of Emaar Properties, were awarded the ‘Chinese Preferred Hotel’ certification from Ctrip in recognition of their extensive and full offering to Chinese business and leisure travellers to Dubai. Ctrip is China’s number one travel website and Online Travel Aggregator (OTA) catering to businesses and […]
Saudi Aramco awards $175 million contract to Baker Hughes, a GE company to boost production of Haradh and Hawiyah gas fields
Saudi Aramco has awarded a $175 million contract to Baker Hughes, a GE company (NYSE: BHGE) to drive enhanced production at the Haradh and Hawiyah gas fields, underlining the strong local partnerships of BHGE in the Kingdom. Part of Al-Ghawar, the world’s largest oilfield, Haradh and Hawiyah gas fields play a key role in supporting […]