Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
96% of GCC Businesses Rank Customer Experience as Priority in 2020
Customer experience will be a top GCC business priority in 2020, agreed upon by 96 percent of the region’s IT decision-makers, according to a new YouGov survey launched today at GITEX Technology Week. In the YouGov survey of 304 GCC IT decision-makers, 80 percent ranked customer experience as “very important,” and 16 percent as […]
Saudi Arabia strategic partner for GITEX represented by ‘Fasah’
The Kingdom of Saudi Arabia is participating in GITEX Technology Week 2019 as the strategic partner of the exhibition in its 39th edition, represented by the unified national system for all import and export activities (Fasah). The smart logistics platform is showcasing its latest technology, whereby visitors to the Fasah pavilion were introduced to the […]
Samsung Pay and Finablr Announce Cross-Border Payments Partnership
a global platform for payments, and Samsung Electronics America today introduced the Money Transfer feature in Samsung Pay. This new in-app international money transfer service, a first of its kind in the U.S., offers users seamless and secure cross-border payments to 47 countries through a variety of payout methods, all within Samsung’s native mobile wallet. […]
SABB the first bank in the Middle East, North Africa & Turkey to go live with SWIFT gpi for Corporates .
Saudi British Bank (SABB), one of Saudi Arabia’s leading financial institutions, and SWIFT, global member owned cooperative and the world’s leading provider of secure financial messaging services announce today that SABB is the first bank in the Middle East, North Africa and Turkey (MENAT) region to go live with SWIFT gpi for Corporates service (g4c). […]
$100M fund raised to invest in tech startups in the MENA region
Regional venture capital firm, BECO Capital, has today announced the successful close of its second fund at $100 million. This figure is well in excess of BECO’s initial $80 million target, driven by the significantly improved technology investment landscape in MENA. To-date, BECO Capital has made 22 investments across its two funds and has […]
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American University in Cairo Moves to Ellucian Cloud
the leading provider of software and services built to power higher education, today announced that the American University in Cairo (AUC), an Ellucian customer since 1995, has decided to move its Ellucian Banner student information systems (SIS) to the cloud. Moving its SIS to the cloud is the first step in AUC’s larger mission to […]
F5 Networks Appoints Mohammed Abukhater as Regional Vice President for Middle East and Africa Sales
F5 Networks today announced the appointment of Mohammed Abukhater as its new Regional Vice President of Sales for the Middle East and Africa (MEA) region. An experienced leader working with high-performing sales and channel teams across the GCC and Africa, Abukhater has over 16 years’ industry knowledge in the technology sector. Based in Dubai, he […]
Digitalization Boosts the Regional Energy and Facilities Management Market
The digital transformation of the Middle East’s energy and facilities management across industry verticals will continue driving the market to record-high business volumes in the medium term, the newly appointed CEO of Middle East facilities management leader Enova announced today. Big Data analytics is helping to enhance energy efficiency across Smart Cities and mega-events, […]
Gartner Says Global Device Shipments Will Decline 3.7% in 2019
Worldwide shipments of devices — PCs, tablets and mobile phones — will decline 3.7%, according to the latest forecast from Gartner, Inc. Gartner estimates there are more than 5 billion mobile phones used around the world. After years of growth, the worldwide smartphone market has reached a tipping point. Sales of smartphones will decline […]
Public Sector Finance Professionals Seek a More Radical Future, Finds Global Research – but Challenges Lie Ahead
The public sector’s image as a place where little or no innovation happens is challenged in a global research report from ACCA (the Association of Chartered Certified Accountants), Innovation in public finance. The report reveals that 91% of public sector respondents said some kind of innovation was happening in their organisation, with slightly less – […]
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Signify named Industry Leader in the 2019 Dow Jones Sustainability Index
Signify (Euronext: LIGHT), the world leader in lighting, has announced that it achieved the status of Industry Leader in the Electrical Components and Equipment category of the 2019 Dow Jones Sustainability Index (DJSI). Signify’s overall score is 88 out of 100 points, demonstrating the continued progress they are making on implementing sustainable measures in all aspects […]
SWIFT enables customer connectivity using the cloud
SWIFT is expanding options for customers moving to the cloud, announcing today both an initiative to smooth their migration to large public cloud providers such as Microsoft and Google Cloud, as well as the next generation of SWIFT’s own private cloud platform. The announcement was made on the sidelines of Sibos, the annual conference, exhibition […]
PwC Middle East outlines policy recommendations for blockchain implementation in latest whitepaper
It is without question that blockchain has been on the lips of innovators over recent years. The level of interest and investment from technology buffs, venture capital, and established companies alike suggest that the revolutionary technology is here to stay. Launched today, PwC’s latest whitepaper titled “Establishing blockchain policy: strategies for the governance of distributed […]
SWIFT enables payments to be executed in seconds
SWIFT today announces the launch of a new service to deliver global instant payments by integrating gpi, the cross-border payments service with real-time service levels, into domestic instant payments systems around the world. Through a combination of gpi and domestic real-time payments networks, SWIFT, together with gpi banks, will facilitate instant international payments with […]
du and Network International Join Forces to Launch Advanced Payment Solution
As a one-stop-shop for empowering the UAE’s enterprise sector, du, from Emirates Integrated Telecommunications Company (EITC), is enabling small-to-medium businesses to flourish through the launch of an efficient, affordable POS solution. As the UAE transitions to becoming a cashless society by 2020 in line with the Smart Government initiative, merchants are increasingly on the lookout […]
McDonald’s UAE Digitally Transforms to Serve UAE’s USD 9.7 Billion Food Services Market
One of the UAE’s largest quick service restaurants, McDonald’s UAE, has digitally transformed with global technology company SAP to serve the country’s food services market growing to USD 9.7 billion by 2020, and enhance customer experiences, industry experts announced today. According to a recent report from Al Masah Capital, UAE’s booming food services market […]
Meet the Homegrown Venture Creation & Management Firm with a Difference: Millennial Capital
Led by Founder Andreea Danila and powered by a passionate, dedicated and experienced management team and governed by a reputable board of directors– Millennial Capital is the region’s first specialist consumer-focused venture creation and management firm to promote a partnership model which targets international brands looking to enter the GCC. With a growing business portfolio […]
Under the patronage of His Excellency, the Minister of Interior, the Saudi International Oil Fire Safety Conference OFSAC 2019 Inaugurates Tomorrow
Under the patronage of His Royal Highness Prince Abdulaziz bin Saud bin Nayef bin Abdulaziz, Minister of Interior and Chairman of the High Commission for Industrial Security, the Saudi International Oil Fire Safety Conference (OFSAC 2019( will start on Monday for three days at the Ritz-Carlton in Riyadh. The conference, organized by the High Commission […]
PwC works to unlock the potential of Saudi talent with the launch of new initiative: “Hemam – Developing Future Saudi Leaders”
PwC announced today the launch of Hemam: Developing Future Saudi Leaders, its latest benefits initiative for Saudi nationals. Hemam’s main objective is to retain, attract and develop Saudi talent across the Kingdom and ultimately encourage them to reach leadership positions within the firm. In addition to the various existing development programs (FFtF, My […]
San Juan Mercantile Exchange Now Available Through Deltix CryptoCortex
announced that its CryptoCortex digital asset trading platform is now connected to the San Juan Mercantile Exchange (“SJMX”) Dark Pool. This connection, according to Deltix, will provide cryptocurrency brokers/dealers, OTC desks, market makers and arbitrageurs with unique and world-class trading functionality in connection with submitting and managing their SJMX Dark Pool orders. Deltix has been providing […]
VIP delegation tours Virgin Hyperloop One Pod at World Energy Congress in Abu Dhabi; Panel discussion highlights vision for a connected gulf
H.R.H Prince Abdul Aziz bin Salman Al-Saud, Energy Minister, Kingdom of Saudi Arabia, H.H. Shaikh Hazza bin Zayed Deputy Chairman of the Abu Dhabi Executive Council and H.E. Thamir Abbas Ghadhban, Deputy Prime Minister and Oil Minister of Iraq were briefed by Mr Harj Dhaliwal, Managing Director of Virgin Hyperloop One (VHO), Middle East and […]
Abu Dhabi Fund for Development Launches Abu Dhabi Exports Office
HH Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation and Deputy Chairman of the Board of Directors at Abu Dhabi Fund for Development (ADFD), announced the launch of the Abu Dhabi Exports Office (ADEX). Established by ADFD, ADEX aims to support the national economy and enhance its competitiveness through the […]