Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
Role of free zones in spotlight at the Annual Investment Meeting (AIM) 2017
In an effort to encourage international investments and enhance cooperation between countries, the Annual Investment Meeting (AIM) which will take place in Dubai from 2nd- 4th April 2017 will discuss the role of free zones in shaping and promoting competitive economy. Spearheaded by leading experts of the industry, the discussion will focus on efforts of […]
Under the patronage of HH Hamdan Bin Mohammed, Empower participates in Earth Hour 2017
Emirates Central Cooling Systems Corporation (EMPOWER), has announced its participation in the ‘Earth Hour’ initiative, which is organised by The Dubai Supreme Council of Energy and Dubai Electricity and Water Authority (DEWA), under the patronage of HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Dubai Executive Council […]
International Government Communication Forum 2017 Convenes in Sharjah
The sixth International Government Communication Forum (IGCF 2017) concluded its first day of constructive dialogue, debate and engagement at the Expo Centre Sharjah, on a successful note. The event was officially inaugurated with a speech by the patron His Highness Sheikh Dr Sultan bin Mohamed Al Qasimi, UAE Supreme Council Member and Ruler of Sharjah, […]
Alharbi: The data revolution must be used to enhance the statistics sector
Based on its belief in the importance of the fruitful cooperation between the public and private sectors in the field of statistics, and on the ground of its concern with the advanced statistical methods and its role in updating the databases fifteen years ago, Eye of Riyadh participated in the first Gulf Statistical Forum which […]
Empower’s transmission pipelines to cross 236 km in Dubai
Emirates Central Cooling Systems Corporation (EMPOWER), the world’s largest district cooling services provider, keeps expanding its network of district cooling transmission pipelines, which has crossed236 Km by end of 2016. The remarkable expansion of Empower’s network of district cooling transmission pipelines is the result of the ongoing growth in its business and projects in Dubai, […]
SEDCO Holding Group Acquires 50% Stake in Al Yusr International Schools
SEDCO Holding Group announced its acquisition of 50 percent stake in the Jeddah-based Al Yusr International Schools (YIS) in a bid to support education and community development efforts. SEDCO Holding Group CEO Anees Ahmad Moumina and YIS CEO Zamil Al Otaibi have signed the partnership agreement at the Group’s headquarters. “Education in Saudi Arabia is […]
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Huawei Saudi Arabia: We are keen to fully support in achieving the Kingdom’s Vision 2030
The Saudi Arabia’s Vision for 2030 is centered on innovation and advanced technologies that empower Saudi citizens and develop their competencies and capabilities in various sectors. Huawei is one of the key tech firms investing in the Kingdom, and supporting its efforts to build a new generation of tech-savvy entrepreneurs by transferring knowledge, skills and […]
Euromoney Set to Launch First-Ever Emirates Conference
Euromoney Conferences today announced the launch of The Euromoney Emirates Conference 2017, the first Euromoney event to be held in the UAE. Since the late 1970s, the company has organised a series of successful and high profile financial events in more than 60 countries and across the region, including the famous Euromoney Saudi Arabia and […]
Huawei signs partnership with Industrial Systems Group to manufacture UPS units in the Kingdom
Huawei Tech. Investment Saudi Arabia and (ISG) Industrial Systems Group, which is an affiliate of Al Abdulkarim Holding, have forged an alliance that will see Huawei sharing its global ICT knowledge, technical and manufacturing capability with ISG to manufacture un-interrupted power supply (UPS) units in Saudi Arabia. This manufacturing collaboration with Huawei follows the visit […]
Middle East Cloud Market Triples to USD 7.5 Billion by 2021
The Abu Dhabi Distribution Company, Qatar Petrochemical Company, and the Saudi General Authority for Zakat and Income Tax and Al Nasser Trading and Import Company were named today as among the most digitally-innovative organizations in the Middle East and North Africa. Demonstrating the strong potential for digital transformation, the Middle East’s cloud infrastructure services market […]
Innotribe reveals the secrets tosuccess for innovation in financial services
Innotribe has released a new report examining the way innovation teams from the financial services sector are harnessing innovation within their organisations. Based on interviews with 11 innovation leaders, the Innotribe report, “Dynamism in Diversity: The essentials for successful Innovation Teams in the Financial Industry,” details current innovation frameworks and best practices for developing innovation […]
SAP Invests USD 200 Million in UAE and Opens New MENA HQ
SAP SE today announced a five-year USD 200 million investment in the UAE, underpinning objectives outlined by the UAE Vision 2021 plan to create economic diversity and jobs for youth. Senior officials participated in the official ribbon-cutting VIP ceremony and inaugurated the new SAP MENA headquarters in Dubai Internet City. Ammar Al Malik, Executive […]
The Euromoney Saudi Arabia Conference Set to Examine Saudi Vision 2030
One year on from the official announcement of the “Saudi Vision 2030” to diversify the economy and reduce the Kingdom’s reliance on oil, The Euromoney Saudi Arabia Conference is set to return to Riyadh to analyse progress made to date. The major conference will bring senior government representatives and leading financiers together to discuss a […]
SWIFT announces Business Forum Egypt in Cairo on March 20 under patronage of Central Bank of Egypt
SWIFT will host the first Business Forum Egypt in Cairo on 20 March 2017 under the patronage of the Central Bank of Egypt. The event brings together senior representatives from Cairo’s banking and financial industry to discuss the most significant issues facing the region. His Excellency Tarek Amer, Governor of the Central Bank of Egypt, […]
Retail Visitors Up in 2016, Records Sàvant Data System (SDS)
Unperturbed by the fall in oil prices and global economic uncertainties, the number of retail visitors has gone up significantly in the UAE according to a market study conducted by Sàvant Data System, a leading solutions and services company providing business intelligence (BI) to the retail sector in GCC. Per the report, the UAE accounted […]
Three Critical Accelerators to Closing the Gender Pay Gap for Class of 2020, Accenture Research Finds
Women graduating from university in developing markets in 2020 could be the first generation to close the gender pay gap in their lifetimes, according to new research from Accenture (NYSE: ACN). The report, Getting to Equal 2017, reveals that, within decades, the pay gap could close if women take advantage of three career equalizers and […]
Etisalat Group Reports Strong Performance in Annual Financial Results
Etisalat Group announced today its consolidated financial statements for the 12 months ending December 31 2016. Financial Highlights for 2016 Aggregate subscriber base reached 162 million. Consolidated revenues amounted to AED 52.4 billion and increased year over year by 2%. Consolidated EBITDA totaled AED 26.3 billion, resulting in EBITDA margin of 50%. Consolidated net profit […]
Energ y Amid Saving, Welfare and the Environmental Impact
It goes without saying that electricity is now an imperative aspect of our modern day lives. Not only is it the primary driver of our daily interactions, but also far more than a mere luxury as perceived in the past days. One is unable to distract their attention away from the fact that energy is […]
Empower pays tribute to women on the occasion of International Women’s Day
To celebrate womanhood and to recognise the power of the femininity, HE Ahmad Bin Shafar, CEO of the Emirates Central Cooling Systems Corporation (EMPOWER), asserted the importance of femininity – the powerful, compassionate and resilient drivers of change in the society. At Empower, women have played an instrumental role in driving the company towards its […]
Qatar’s USD 3 Billion Digital Transformation Market Driven by Information Management
On the eve of QITCOM, digital transformation enabler SAP announced plans to launch a private cloud data center to accelerate Qatar’s USD 3 billion digital transformations. Showing the strong growth potential of digital transformation, Qatar’s commercial sector is set to increase its ICT spending by 50 percent from about USD 2 billion in 2015 to […]
Waseela Appoints New Chief Technical Officer
Waseela, the leading regional Information and Communication Technology (ICT) system integrator, announced today the appointment of Mr. Bilal Al-Anani as its Chief Technology Officer. Mr. Bilal, who holds an M.Sc. in Electrical Engineering Systems from the University of Michigan, with more than 18 years of industry experience, joins Waseela from Cisco Systems where he held […]
Digitization Drives Half a Million New Saudi Jobs by 2020
Saudi youth are primed to take on the half-million jobs that are expected to be created from nationwide digital transformation by 2020, experts commented today on a recent report by The Economist Corporate Network. The Kingdom faces a crucial juncture in its economic growth and youth employment. Through 2025, the Kingdom will see 226,000 new […]