Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
Empower contributes to Dubai Blood Donation Centre through its blood donation drive
Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider organised a blood donation drive at its headquarters in collaboration with Dubai Blood Donation Centre on 28 August 2017. The blood donation drive was conducted in line with the UN’s Global goals for sustainable development and 2021 Dubai Plan, reflecting the principles […]
UAE FinTech Startup Trriple to Showcase Digital Payment Innovations at GITEX
Digital payments will dethrone “cash as king” in the Middle East, and boost regional GDP by nearly USD 100 billion, industry experts announced today ahead of GITEX Technology Week. As Middle East countries accelerate their digital transformation agendas with nationwide high-speed technology connectivity, one of the biggest benefits will be quick and easy mobile payments. […]
VAT in the GCC: What does it mean for your business?
By Aaron White, Regional Director for Sage Middle East On 1 January 2018, value-added tax (VAT) will come into effect for the first time in the United Arab Emirates. Naturally, small businesses are concerned about the financial and operational impacts of VAT compliance, especially since they’re used to operating in a low-tax business environment. While […]
Why Middle East Boardrooms Will Prioritize Innovation, Data Centers, and Security in 2018
The Middle East’s shift to digital business has created a dilemma for the regions CIOs. They need to innovate and implement change, while also retaining levels of control and management. Every Middle East industry is being impacted by this rush towards the Digital Economy and the increasingly connected Internet of Things era. Research from VMware […]
Barclays continues to expand Private Bank team in MENA
NEWS RELEASE Barclays continues to expand Private Bank team in MENA Dubai based Head of Global Investments & Solutions for MENA clients Saudi Arabia – August 2017: Barclays announced today the appointment of Bjorn Holderbeke as MENA Head of Global Investments and Solutions (GIS) for its Private Bank. Based in Dubai, Holderbeke will be responsible […]
Sage 300 User Conference to focus on VAT
Sage, the market and technology leader for integrated accounting, payroll and payment systems, is to host an exclusive customer event to help business professionals navigate the UAE’s implementation of Value Added Tax (VAT) in January 2018. The Sage 300 User Conference takes place from 8.30 on 15 August 2017 at the Armani Hotel, Burj Khalifa, […]
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SEDCO Capital Launches a Groundbreaking New Investment Strategy
SEDCO Capital, one of the largest asset managers in Saudi Arabia, has launched a new investment strategy called Prudent Ethical Investing (PEI) that integrates its Shariah-compliant investment approach with ethical investing. PEI stresses the importance of due diligence and transparency around investment structures, processes and reporting while also integrating the analysis of environmental, social and […]
UAE Public Sector Drives USD 300 Million Blockchain Market
The UAE public sector is driving the country’s blockchain’s USD 300 million market to deliver fast and secure customer and citizen transactions, global blockchain enabler SAP announced today. In contrast to business transactions with third parties like banks, blockchain sends records over a peer-to-peer network. With the inter-connected Internet of Things era advancing, UAE organizations […]
ISO 22301 Certification for Business Continuity Management System awarded to Abu Dhabi Ports
Abu Dhabi Ports, the master developer, operator and manager of commercial and community ports within the emirate of Abu Dhabi, in addition to the Port of Fujairah, and Khalifa Industrial Zone Abu Dhabi (KIZAD), has been awarded the ISO 22301 certification for its Business Continuity Management System (BCMS). The certification is a business continuity management […]
SAB Holding Selects IBM Cloud to Accelerate its Mission-Critical Business Processes
IBM (NYSE: IBM) today announced that SAB Holding, an industrial conglomerate headquartered in Jeddah, Saudi Arabia, has selected IBM Cloud to host its mission-critical SAP® applications. IBM Cloud’s SAP-certified infrastructure will provide SAB Holding with the agility and speed the company needs to keep pace with business demands, while helping accelerate its business processes and […]
“Riyadh Airports” and “Uber” sign an agreement to transport passengers to and from King Khalid International Airport
Riyadh Airports Company and Uber have signed an agreement to transport passengers to and from King Khalid International Airport (KKIA) in the Saudi capital, Riyadh. CEO of Riyadh Airports, Saleh Al Rasheed said “The agreement, which was signed today, is the first of its kind for the company in the Kingdom, and allows Uber driver-partners […]
DMS signs partnership with STEP Group
DMS – which serves as the official digital arm of Choueiri Group – has partnered with STEP Group – a leading digital and new media company in the Middle East, with offices in Dubai, Beirut and Cairo. The tie-up with DMS will focus on harnessing the full potential of STEP Group’s modern digital news and […]
Virgin Mobile Stresses on the importance of enhancing “Customer Experience”
The complaint indicator released by The Communications and Information Technology Commission (CITC) showed that Virgin Mobile Saudi is the lowest in terms of complaints received by the CITC against telecom operators, which makes it the best compared to other service providers. Virgin Mobile Saudi expressed its delight with this achievement, which underscores the company’s commitment […]
Sabre Names Clinton Anderson as President, Hospitality Solutions
Sabre Corporation (NASDAQ: SABR), the leading technology provider to the global travel industry, today named Clinton Anderson as president of Sabre Hospitality Solutions (SHS), effective Aug. 7. He will succeed Alex Alt who has accepted an executive position at another company. “Clinton has demonstrated his tremendous value and executive skills leading initiatives and taking on […]
Huawei Consumer Business Group Announces 2017 H1 Business Results
Huawei Consumer Business Group today announced its 2017 first half year financial results: sales revenue for the first six months of 2017 increased by 36.2% year-on-year to CNY105.4 billion. Smartphone shipments also rose to 73.01million, a year-on-year increase of 20.6%. Richard Yu, chief executive officer of Huawei’s Consumer Business Group, said, “Our Consumer Business Group […]
Gartner Says Digital Transformation and IoT Will Drive Investment in IT Operations Management Tools Through 2020
The growth of digital business and the Internet of Things (IoT) is expected to drive large investment in IT operations management (ITOM) through 2020, according to Gartner, Inc. A primary driver for organizations moving to ITOM open-source software (OSS) is the lower cost of ownership. “While acceptance of OSS ITOM is increasing, traditional closed-source ITOM […]
The launch of the Money Trade Coin in the Crypto Market and Exchange in UAE
In the new era of technology and online investment solution, it is required a reliable, secure and stable crypto currency to use in the regular day-to-day payment solutions and business settlements across the globe. Bit Coin Global FZE, the leading company in crypto market investment solutions; announces the soft launch of the cryptocurrency (payment solutions) MONEY TRADE COIN […]
Smart Showrooms For Smart Energy Consumption
In line with the Saudi development plans, the city of Riyadh and Jeddah witnessed the implementation of smart showrooms in a step to save on electricity consumption. Due to regional increase on energy usage at an average rate of 8% annually, companies started seeking solutions for reduction and saving on sources. Accordingly, one of the […]
Hitachi Named a Leader in the Gartner Magic Quadrant for Solid-State Arrays
Hitachi Data Systems (HDS), a wholly owned subsidiary of Hitachi, Ltd. (TSE:6501), today announced it has been positioned in the Leaders Quadrant of the July 2017 Magic Quadrant for Solid-State Arrays by Gartner, Inc., a leading global research firm. Hitachi believes its significant growth and enhancements to its all-flash Hitachi Virtual Storage Platform (VSP) F Series product […]
HUAWEI Ranked 83 in the Top 100 of the Latest Fortune 500 List
In this year’s Fortune 500 that came out recently, HUAWEI climbed up the list to the 83rd place from the 129th of last year with revenue of $78.51 billion, making the top global 100 for the first time. The Fortune 500 list has always been the most prestigious and acknowledged list that ranks large companies […]
Gartner Says Worldwide IT Spending Forecast to Grow 2.4 Percent in 2017
Worldwide IT spending is projected to total $3.5 trillion in 2017, a 2.4 percent increase from 2016, according to Gartner, Inc. This growth rate is up from the previous quarter’s forecast of 1.4 percent, due to the U.S. dollar decline against many foreign currencies (see Table 1.) “Digital business is having a profound effect on […]
Realizing 2030: Dell Technologies Research Explores the Next Era of Human-Machine Partnerships
In 2030 every organization will be a technology organization and as such businesses need to start thinking today about how to future-proof their infrastructure and workforce, according to a report published by Dell Technologies today. The research, led by the Institute for the Future (IFTF) alongside 20 technology, academic and business experts from across the […]