Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
Transcend’s Best Product Award Highlights of 2017
Transcend Information, Inc. (Transcend), a worldwide leader in storage and multimedia products, is proud to present its best product award highlights in the year of 2017 from the prestigious 2017 Good Design Award and Taiwan Excellence Award. With nearly 30 years of technical experience and expertise, Transcend has received many prestigious design awards for innovative […]
Thomson Reuters Provides Shariah-compliant Deal Application To Alinma Bank
Thomson Reuters announced that it will provide Alinma Bank with a Shariah-compliant application that fully automates deal workflow solutions for Shariah-compliant financial transactions. The development of the application comes in line with Alinma Bank’s plans aimed at improving procedures related to the implementation of processes, controls and regulations. The application, which is the first of […]
Tusdeer embracing the new LogiPoint identity aligns with Vision 2030
“Tusdeer”, the first and largest Bonded and Re-export zone in the Kingdom of Saudi Arabia, has decided to go ‘one step further’ and launched its new identity, “LogiPoint”, transforming from a pioneering bonded zone into a leading network of integrated logistics parks across KSA, and contributing to the Kingdom’s ambitious Vision 2030 program. In realizing […]
Panasonic’s New Marketing Campaign to Foster Stronger Customer Value for the Brand in the Region
Panasonic Marketing Middle East & Africa (PMMAF) has launched its one of the biggest consumer marketing campaign in the Middle East – ‘Makers of Quality. Mastered in Japan’, to emphasize on stronger customer value for the brand. With this new campaign, Panasonic aims to continue delivering on its century old heritage of Japanese craftsmanship and […]
Solar Welcomes Private Investors
In the ever-growing realm of renewable energy, private investors have not yet been able to take part in what has been dubbed Dubai’s solar revolution. Renewable energy targets have been steadily increasing from 5% all the way to 75%, in line with the incredible success stories shared across the Emirates. However, these successes have only […]
Sadafco’s net profit totaled 75 Million Riyals in the second quarter of 2017
Despite the drop in overall consumption levels, Saudia Dairy and Foodstuff Company (SADAFCO) achieved consistent net margins in Q2 2017 in line with the previous quarters this year and last year. Material input costs continued to move up during the quarter as against previous periods & with the market witnessing sustained decline in consumption pattern, […]
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VAT in the GCC: Are your accounting systems ready?
By Mansoor Sarwar, Director Technical Services & PreSales, Sage Middle East Compliance with the UAE VAT Law may require significant changes to a business’ technology, operations, financial management and bookkeeping practices. The law, which comes into effect across the six Gulf Cooperation Council (GCC) nations on 1 January 2018, sets administrative penalties for businesses that […]
World Green Economy Summit 2017 concludes with the announcement of the 4th Dubai Declaration
The 4thWorld Green Economy Summit (WGES), held under the patronage of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai concluded today (25 October 2017). The summit, held under the theme ‘Driving Innovation, Leading Change’ brought together many prominent speakers from across the globe, in […]
Gartner Says Worldwide Semiconductor Revenue to Reach $411 Billion in 2017
Worldwide semiconductor revenue is forecast to total $411.1 billion in 2017, an increase of 19.7 percent from 2016, according to Gartner, Inc. This represents the strongest growth since the 2010 recovery from the financial crisis when revenue increased by 31.8 percent. “Memory continues to lead the semiconductor market higher and is expected to increase 57 […]
Winners of 3rd Emirates Energy Award (EEA) unveiled
Dubai Supreme Council of Energy held today (Tuesday, 24th October, 2017) the 3rd Emirates Energy Award 2017. The event organised concurrently with the fourth edition of The World Green Economy Summit (WGES) saw the attendance of the industry’s elite and leading energy professionals, who came together under one roof to recognise and celebrate the achievements […]
LINKSYS Partner Program Launched Across All Channels
Linksys® has launched integrated portal that gives its partners resources and structured training to help them sell its products more effectively. Especially smaller unmanaged partners will benefit hugely from the portal. This is a next step in Linksys’ continuous investments in channel partnerships. Small- and Medium-sized Businesses – also called SMEs – comprise 95% of […]
Moody’s Analytics Launches the CreditLens™ Platform
Moody’s Analytics has launched the CreditLens platform, our next-generation credit origination and risk monitoring solution. This new platform offers flexibility, configurability, and efficiency to lending institutions striving to establish smarter and leaner loan origination practices. The CreditLens platform reduces time-to-decision while tapping into powerful models and insightful analytics that help lenders manage risk and drive […]
Dubai Makes Way for Renewable Energy Crowdfunding
World and Dubai Carbon Centre of Excellence (DCCE) signed an agreement to use crowdfunding, and innovative Fintech tool, to power the retrofitting of warehouses in Mina Rashid. The agreement was signed by Nabil Battal, Global HSE Director of DP World and Ivano Iannelli, CEO, Dubai Carbon on October 23rd at the19th edition of Water, Energy, […]
Oracle Introduces Next Gen Cloud Applications to Support
Oracle today hosted its first Modern Business Forum in Riyadh to help Saudi Arabia’s fast growing and large enterprises accelerate digital transformation and drive business growth with Oracle’s next generation Software as a Service (SaaS) cloud applications that are now embedded with artificial intelligence (AI). The daylong event that was attended by executives of leading […]
Gartner Says Worldwide IaaS Public Cloud Services Market Grew 31 Percent in 2016
The worldwide infrastructure as a service (IaaS) public cloud market grew 31 percent in 2016 to total $22.1 billion, up from $16.8 billion in 2015, according to Gartner, Inc.. Amazon was the No. 1 vendor in the IaaS market in 2016, followed by Microsoft and Alibaba. “The market for cloud services is growing faster than […]
Canon strengthens business opportunities in Saudi Arabia through a strategic partnership with United Electronics Company (eXtra)
Canon Middle East, a leader in imaging and printing solutions, has signed United Electronics Company (eXtra), as a strategic partner for Canon Office Personal Products (OPP) in Saudi Arabia. With the help of a strong partner such as United Electronics Company (eXtra), Canon will deliver innovative, technology led solutions for its customers in the Kingdom; […]
Murex to Offer Cloud-Based Trading and Risk Management Solutions
Sibos – Murex, an industry leader in trading, risk management and processing solutions for capital markets, announces it has certified its MX.3 technology platform to run on Microsoft Azure. Since early 2016, Murex has collaborated with Microsoft to bring to market solutions enabling clients’ digital transformation. This collaboration has now come to fruition with the […]
SWIFT aligns KYC Registry with updated Wolfsberg Due Diligence Questionnaire (DDQ) for Correspondent Banks
SWIFT is aligning its Know Your Customer (KYC) Registry with the new Wolfsberg Due Diligence Questionnaire (DDQ) for Correspondent Banks. First issued in 2004, the Wolfsberg DDQ has been updated in response to an increase in regulatory expectations and a call for action from the Financial Stability Board Correspondent Banking Coordination Group (FSB CBCG) and […]
Gartner Says Middle East and North Africa Information Security Spending Will Grow 11 Percent to Reach $1.8 Billion in 2017
Middle East and North Africa (MENA) spending on information security technology and services is on pace to reach US$1.8 billion in 2017, an increase of 11 percent over 2016, according to Gartner, Inc. Sam Olyaei, senior research analyst at Gartner, provided the latest outlook for the information security industry today at the Gartner Security and […]
ABB wins $45 million order to enable power supply to Dubai Hills Estate
ABB has won an order worth around $45 million from Dubai Hills Estate L.L.C, a joint venture between Emaar Properties PJSC and Meraas Holding, to construct a substation that will boost distribution capacity and feed power to a new integrated lifestyle project being constructed in Dubai. The project exemplifies ABB’s commitment to deliver reliable power […]
Digital is the New Way
Having 25 years of experience and innovation to the field of Enterprise Content Management, Everteam, one of the world’s leading ECM firm, has added a diamond star to its name. Everteam has associated with the Kingdom Digital Enterprise Transformation Show as its Diamond Sponsor. The Show will be held at the Burj Rafal Kempinski Hotel […]
Arab Banks to discuss the future of the global financial sector at Sibos in Toronto
Over 8,000 banks, financial and securities institutions, regulators, corporate customers and service providers meet at Sibos every year to discuss the key issues shaping the global financial industry. Under the theme of ‘Building for the Future’, the 2017 conference programme will look at major industry trends including cybersecurity, financial crime compliance, artificial intelligence (AI), the […]