Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
44% businesses who maintain books of accounts manually or using excel are unaware of any business management software
Small and medium businesses (SMBs) are a backbone of any economy as they contribute immensely to the country’s GDP, employment generation and exports. In UAE this sector constitutes of over 94% of the total businesses in the country. While they have high potential of growth, they are still ignorant to the immense benefits automated accounting […]
MIT Technology Review Lists Huawei in 50 Smartest Companies
Huawei was named one of the 50 Smartest Companies by MIT Technology Review on June 29, 2019. Since 2010, the MIT Technology Review, a globally influential technology media outlet, has annually published a list of the 50 companies that best combine innovative technology with an effective business model around the world. MIT Technology Review picks […]
Cisco Predicts 30 Million Internet Users in Saudi by 2022
Cisco’s Visual Networking Index (VNI) Forecast predicts 4.8 billion Internet users to be connected globally by 2022, out of which 549 million will be living in the Middle East and Africa. Cisco celebrated 30 years of the World Wide Web by sharing insights from the VNI Forecast to predict trends and behaviors evolving in the […]
Dubai achieves 19% reduction in net CO2 emissions
In conjunction with the convening of the preparatory conference for the UN 2019 Climate Summit (COP 25) in Abu Dhabi, the Dubai Supreme Council of Energy announced that the net CO2 emissions of Dubai have decreased by 19% compared to the business as usual (BAU) scenario and 10% below the Carbon Abatement Strategy 2021 target […]
Costa Coffee and alghanim Industries expand middle east partnership
Costa Coffee, the UK-based coffee shop company with nearly 4,000 locations in more than 32 global markets, and Alghanim Industries, one of the largest privately-owned companies in the Gulf region, has today announced an expansion of their successful partnership. Moving forward, Alghanim Industries will have development rights to Costa Coffee not just in Kuwait but […]
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DEX Exchange secures in principle approval for crypto asset exchange in UAE
DEX (Digital Assets Exchange) has secured in principle approval from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) to operate a Crypto Asset Exchange as part of the wider digital asset regulatory ecosystem developed over the past year by the FSRA. CEO and Founder of DEX Leon Smith said: “This is […]
World Green Economy Summit (WGES) to be held on October 20th to 21st under the theme ‘Innovative Technologies for a Sustainable Economy
Under the patronage of HH Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, the steering committee of the sixth edition of World Green Economy Summit (WGES) 2019 that is organized by World Green Economy Organisation (WGEO) and Dubai Electricity and Water Authority (DEWA) in collaboration […]
ARA Petroleum and Oasis Water Win Awards as Oman’s Digital Leaders
Omani oil and gas firm ARA Petroleum, and drinking water manufacturer Oman Oasis, have won SAP MENA Quality Awards, recognizing their digital transformation projects as among the region’s most innovative and delivering the strongest business benefits. Both organizations co-innovated with channel partner Kaar Technologies to leverage the SAP S4/HANA real-time business suite, enhancing efficiency, productivity, […]
ALMALL, one of the main players in the Saudi Arabia and UAE markets
ALMALL, the only pure playing E-commerce in the Middle East, was launched in October 2018, within the Media Group Saudi Research and Marketing Group. Since its launch, ALMALL has had 30% monthly growth and is now one of the main players in the Saudi and UAE markets. For Saudi Research & Publishing Company that has […]
Snap study finds in Saudi Arabia and the UAE nearly half turn to Snapchat for daily communication with their best friends
Snap Inc. today released a global study of 10,000 people across Australia, France, Germany, India, Malaysia, Saudi Arabia, the UAE, the UK and the US to explore how culture, age, and technology shape preferences and attitudes around friendship. Ten experts on friendship from around the world contributed to the report to contextualise the data. “Snapchat’s […]
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Tech support burden on younger generation results in relationship rifts
New Kaspersky survey uncovers the rise of ‘Can you just’ and the negative impact it’s having on the family unitTechnology has transformed how we live our lives, but it has come at more than just a financial cost for many of us. A new Kaspersky survey has found that more than a third (35%) of […]
UAE Gains AED 20 Billion in Cloud Business Revenue by 2022
UAE organizations rapidly investing in hybrid cloud environments will drive the country’s cloud business revenue to increase by AED 20 billion to 2022, industry experts announced today. Showing the strong cloud opportunity, the UAE’s public cloud spend set to quadruple to AED 1.5 billion by 2022, generating AED 20 billion in net new revenues and […]
Gartner Reveals 75% of Organizations Surveyed Increased Customer Experience Technology Investments in 2018
Three-quarters of organizations surveyed by Gartner, Inc. increased customer experience (CX) technology investments in 2018. Customer analytics continues to be one of the biggest investments, with 52% intending to increase funding in 2019, focusing on customer journey analysis, customer needs analysis, voice of the customer (VoC) and digital marketing. Gartner’s 2019 Customer Experience Innovation survey […]
Huawei founder: The world relies on open collaboration for shared success
“All of the US companies that we work with are great companies that hold themselves to high standards in terms of business integrity and ethics.” – Ren Zhengfei, founder and CEO of Huawei “Our President has already said publicly that he would reconsider Huawei if we can make a trade deal. So, clearly, it’s not […]
SWIFT publishes paper on the future of payments
SWIFT has today released a landmark paper, “Payments: looking to the future”, in which the global co-operative articulates the future of cross-border payments. With the increase in cross-border flows, new technology enabling dramatic improvements and end-customers demanding a better customer experience, SWIFT is setting out its views on the future of cross-border payments in order […]
Global First-of-its-kind Russian Centre for Digital Innovations and ICT Launched in Dubai Internet City
Dubai Internet City (DIC), the Middle East’s leading technology business community, today witnessed the launch of the first Russian Centre for Digital Innovations and Information and Communication Technologies. The center, facilitated by the Russian Export Centre (REC), is one of the largest and only business support platforms for Russian tech firms outside Russia and follows […]
PepsiCo boosts women empowerment in Saudi Arabia with the launch of Tamakani
PepsiCo, the global food and beverage company, launched Tamakani, a dedicated platform that aims to support and inspire generations of women in the Kingdom of Saudi Arabia. The platform will help create opportunities and guidance for women with promising capabilities, provide support to realize aspirations, scale up innovative initiatives, and mentor Saudi women to realize […]
Ajman Bank Wins ‘Most Improved Alternative Channels’ Award by ETHOS
Ajman Bank has been conferred with the ‘Most Improved Alternative Channels’ award by ETHOS Consultancy for demonstrating outstanding performance in electronic banking and payment solutions. The coveted award was presented to Ajman Bank in recognition of the expansion of its channels in consumer banking through Samsung Pay, CRM, Contactless Card and Mobile Banking Up-grade to […]
Pantheon Development wins ‘Best Affordable Luxury Property” award by Arabian Business
Pantheon Development was honoured as the “Best Affordable Luxury Property” during the prestigious Arabian Business Real Estate Awards 2019 at Le Royal Meridien Beach Resort & Spa on Sunday evening. Pantheon Development, a subsidiary of Pantheon Group, is an emerging brand in the affordable luxury segment within Dubai’s real estate market. The developer has completed […]
Aimed at launching wide prospects for collaboration between influencers, Arab publishers & regional and international e-commerce platforms
ArabClicks, Basma Media sign collaboration accord to establish largest Arab digital marketing networkArabClicks, the performance-based e-marketing platform, has signed a joint strategic cooperation agreement with Basma Media, the developer of OMNESMEDIA.com, to build effective relationships and foster business connections between publishers and social media influencers on the one hand, and various e-commerce platforms operating in […]
UAE pharma market to top US$4.5 billion by 2021 says CPhI MEA
The importance of the regional pharmaceutical market will be discussed at the forthcoming global pharmaceutical event CPhI Middle East and Africa, when it returns to the Abu Dhabi National Exhibition Centre (ADNEC) from 16-18 September 2019, as the UAE’s pharmaceutical market is expected to increase in value to US$4.5 billion by 2021. The event, which […]
Eksab Raises Seed Investment From 500 Startups and Is Poised To Become The Leading Daily Fantasy Sports Platform In The MENA Region
Eksab, the leading Daily Fantasy Sports (DFS) platform in MENA and the GCC, announced a six-figure seed investment from 500 Startups as it looks to capitalize on the prestigious African Cup of Nations being hosted in Egypt for the first time in more than a decade. With the rise of regional footballers to the world […]