Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
7 Characteristics of SMBs
Jonathan Wood, General Manager, Middle East and Africa at Infor, discusses the key characteristics of SMBs, and offers advice on how they can reach the next level. SMBs are defined by their number of employees and annual revenue. SMBs aren’t always the ten-person mom-and-pop shop on the corner. Common definitions classify companies with up to […]
New Salesforce Research Reveals Middle East Customers Want Connected, Multi-Channel Engagement with Companies; Corporate Values Sway Their Buying Decisions
Salesforce, the global leader in CRM, today released the third edition of its State of the Connected Customer report which reveals that Middle East companies are being challenged to rethink not just the individual experiences they provide customers, but their entire approach to customer engagement. At the same time, the research shows that corporate values […]
Intertek awards Almarai ISO 9001:2015 certification across Saudi Arabia
Intertek, a leading Total Quality Assurance provider to industries worldwide, has awarded Almarai Company, Middle East’s leading food and beverage manufacturer and distributor, the ISO 9001:2015 certification for Quality Management Systems. The certification has been obtained for all Almarai’s operations in Saudi Arabia through a series of multi-site certification audits across its various subsidiaries and […]
ALMALL, the new fastest growing E-commerce in Saudi Arabia
ALMALL, the only pure playing E-commerce in the Middle East, was launched in October 2018 by Mohammed Fahad Alharthi, 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 market. For Saudi Research & Publishing Company […]
DUBAI POISED TO REDEFINE MODERN WATERFRONT LIVING WITH PLANNED INTEGRATION OF DEVELOPMENTS AT DUBAI MARITIME CITY AND MINA RASHID
As luxury urban waterfront communities are steadily growing in numbers. It is proposed to take modern coastal living to the next level with plans to integrate the ongoing developments at Dubai Maritime City (DMC) and Mina Rashid. Both DMC and Mina Rashid have made waves as two iconic projects that are going to raise the […]
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EQUITATIVA ANNOUNCES STEADY FIRST QUARTER RESULTS FOR EMIRATES REIT
Equitativa (Dubai) Limited (“Equitativa”), the largest REIT manager in the GCC and manager of Emirates REIT (CEIC) Limited (“Emirates REIT” or the “REIT”), the world’s largest Shari’a compliant Real Estate Investment Trust, today reported Emirates REIT unaudited financial results for the period ending 31 March 2019. KEY HIGHLIGHTS Portfolio value increased to USD 941 million […]
Gartner Predicts 75% of Large Organizations Will Hire AI Behavior Forensic Experts to Reduce Brand and Reputation Risk by 2023
Users’ trust in artificial intelligence (AI) and machine learning (ML) solutions is plummeting as incidents of irresponsible privacy breaches and data misuse keeps occurring. Despite rising regulatory scrutiny to combat these breaches, Gartner Inc. predicts that, by 2023, 75% of large organizations will hire AI behavior forensic, privacy, and customer trust specialists to reduce brand […]
Citigroup Saudi Arabia holds its board meeting as it marks its one-year anniversary in the Kingdom
Citigroup Saudi Arabia recently held its first board meeting of the year, marking its one-year anniversary in the Kingdom. The board is comprised of Citi senior executives and independent directors including Alberto J. Verme, Chairman-Citi Institutional Clients Group, also Chairman-Citigroup Saudi Arabia; Atiq Rehman, CEO-Middle East and Africa; Carmen Haddad-Citi Country Officer, Saudi Arabia and […]
GetSwift Appoints Stan Pierre-Louis to Board of Directors as Non-Executive, Independent Chair
GetSwift Limited (ASX: GSW) (‘GetSwift’ or the ‘Company’), a leading provider of SaaS logistics technology, today announced the appointment of Stanley Pierre-Louis to the GetSwift Board of Directors as Non-Executive, Independent Chair. Mr. Pierre-Louis brings over 23 years of experience leading, advising and governing private and public companies with a particular focus on technology and […]
2019 China Yiwu Imported Commodities Fair Concludes, with Number of Professional Buyers up 48.41% Year-on-Year
China Yiwu Imported Commodities Fair, a key platform to accelerate Yiwu’s opening up to the world, closed on May 26, 2019 in Yiwu City of China. With an exhibition area of 50,000m2, the Fair of this year gathered exhibitors from 85 countries and regions, including Spain, Italy, Germany, Russia, South Korea, Japan, Malaysia, India, Pakistan, […]
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MetLife Boosts Employee Benefits Leadership Team
MetLife has appointed two seasoned international leaders to its Employee Benefits business to further enhance its offering to intermediary partners and focused customer segments in the Gulf. Lilia Mokhtari will join MetLife in the Gulf as Head of Multinational and Key Accounts, while Matthew Le Belenger has been appointed as Head of Sales for the […]
Malaysia will use Huawei tech ‘as much as possible,’ says Mahathir
Malaysian Prime Minister Mahathir Mohamad said Thursday that Malaysia would continue to welcome Huawei Technologies, even as others shy away from working with the Chinese tech juggernaut. Huawei has achieved a “tremendous advance over American technology,” Mahathir told the annual Future of Asia conference in Tokyo, hosted by Nikkei. While the U.S. has long had […]
Refinitiv report finds global companies to ramp-up innovation as 72% fall prey to financial crime
Refinitiv, one of the world’s largest providers of financial markets data and infrastructure, has published its second annual financial crime report today. Innovation and the fight against financial crime: How data and technology can turn the tide highlights that almost three-quarters (72%) of organisations have been victims of financial crime over the past 12 months […]
Finastra’s open cloud platform drives collaboration and innovation in financial services
Ahead of its FusionONE developer conference, co-hosted with Microsoft, Finastra unveiled the latest developments to its FusionFabric.cloud open platform for innovation. As half of financial institutions in the UK and US look to implement cloud collaboration[1], adoption of Finastra’s open platform is gathering pace, with over 300 Fintechs now registered. Further to its strategic […]
LG COMMITS TO CARBON NEUTRALITY BY 2030
LG Electronics (LG) has launched its aggressive Zero Carbon 2030 initiative, committing to achieving net-zero carbon emissions from its global operations within 12 years. In line with its larger sustainable business strategy, LG will look to reduce carbon emissions from its global operations by 50 percent compared to a 2017 baseline by implementing various […]
Huawei founder Mr. Ren Zhengfei:
In his latest meeting with the media, Huawei founder Mr. Ren Zhengfei has reiterated that the company is in a strong position to move ahead despite recent political actions in the United States. Addressing questions about the impact of the White House’s recent executive order, Ren noted: “What the US will do is out of […]
Meet the Winners of Smartpreneur Competition 4.0 Supported by du
Three innovative startups have been named winners of the Dubai Smartpreneur Competition 4.0 hosted by Entrepreneur Middle East’s 2019 Enterprise Agility Forum and supported by du, from Emirates Integrated Telecommunications Company (EITC). The competition is one of the programs by Dubai Startup Hub, the entrepreneurship support arm of Dubai Chamber of Commerce and Industry. Open […]
SWIFT trials instant cross-border gpi payments through TIPS
SWIFT today announces that a group of banks are to trial instant gpi cross-border payments in Europe using the TARGET Instant Payments Settlement (TIPS) platform. The European Central Bank (ECB) and SWIFT have launched this initiative to extend the reach of instant cross-border payments deeper into the European market by enabling gpi in the […]
SADAFCO Receives Prestigious ‘Saudi Dates Mark’ Certification
In yet another recognition of the high quality standards maintained across its manufacturing facilities and products, Saudia Dairy and Foodstuff Company (SADAFCO) has received the iconic ‘Saudi Dates Mark’ certification from the National Center for Palm & Dates (NCPD). The certificate was received by Saud Al Badr, PR Manager of SADAFCO, at an event […]
ArabClicks eyes 48m Internet users to boost e-commerce in Egypt
ArabClicks — a performance-based marketing platform that helps e-commerce companies connect and grow in the Middle East and North African (MENA) markets – has expanded its services to Egypt, which is home to the highest number of Internet users in the Arab World. Since its formal entry into the North African nation in May 2019, […]
More global banks commit to Finastra’s Fusion LenderComm
Finastra has signed three global banks on its Fusion LenderComm platform as part of a coordinated campaign, including BNP Paribas, Natixis and Societe Generale. With NatWest, which joined recently, the ramp up signals a move towards a new era of efficiency in this complex space. Grant Jones, VP, Fusion LenderComm, Finastra said, “All of […]
LG ANNOUNCES FIRST-QUARTER 2019 FINANCIAL RESULTS
LG Electronics Inc. (LG) today announced consolidated sales of KRW 14.92 trillion (USD 13.27 billion) and operating profit of KRW 900.6 billion (USD 801.25 million) for the first quarter of 2019. Although overall first-quarter revenues and operating income declined somewhat in 2019 versus 2018, the home appliance company reported record first-quarter sales and profits. Operating […]