Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
An Unprecedented Initiative Supported By the United Arab Emirates
“A common vision for Arab Digital Economy” is the bold plan driven by the Council of Arab Economic Unity (CAEU) at the League of Arab States to boost political and social stability in the Arab World through Digital Economy. Dr. Ali Mohammed Al Khouri, Advisor to the Council of Arab Economic Unity, said that the […]
CE-Ventures Acquires Significant Stake in UAE-based Logistics Firm Transcorp
CE-Ventures, the corporate venture capital arm of UAE-headquartered global conglomerate Crescent Enterprises, today announced that it has invested in Transcorp International (Transcorp), one of the UAE’s most efficient logistics and last-mile distribution service providers, acquiring a sizeable minority stake. Through this strategic investment, CE-Ventures also aims to support the expansion of Transcorp across the MENA […]
Middle East Poised for Higher e-Commerce Growth
China is leading the world with more than 40 percent of the world’s e-Commerce transactions which accounted for just 1 percent of transactions a decade ago according to a McKinsey report in 2017. Digital technology platform innovators such as Alibaba, Tencent and JD, combined and massive comfort levels of a mobile savvy population in China […]
Jean-Damien Marie appointed as Head of Investments EMEA in Barclays Private Bank & Overseas Services
Barclays announces today that Jean-Damien Marie has joined as Head of Investments EMEA in Private Bank & Overseas Services. With over 20 years’ experience in capital markets, asset and wealth management business development and portfolio construction for large asset owners, Jean-Damien brings deep private banking and investment expertise to the team to support the delivery […]
Abu Dhabi to Host 2nd India-UAE Strategic Conclave Opening Doors Of Next-Level Mutual Growth Opportunities
The capital city of Abu Dhabi will host the second edition of Economic Times India-UAE Strategic Conclave on November 27, 2018 under the patronage and in the presence of His Excellency Sheikh Nahyan Bin Mabarak Al Nahyan, the UAE Minister of Tolerance. The day-long Conclave will feature key discussion topics including ‘Fresh ideas for the […]
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Two-thirds of businesses in the Middle East don’t know why their customers are loyal, finds CollinsonGlobal
A commissioned study conducted by Forrester Consulting on behalf of Collinson, a global leader in customer benefits and loyalty, unearths that a significant proportion of businesses around the world, including across the UAE and KSA, do not understand what is driving their customers’ brand loyalty, ultimately putting customer relationships and profitability at risk. Surveying decision […]
Dubai Internet City Launches ‘GoFreelance’ to Attract International and Local Tech Talent
Dubai Internet City (DIC), the largest technology business hub in the region, has launched its GoFreelance permit that will enable freelance talent to work in the technology sector. This product will further enhance Dubai’s global credentials as an incubator that thrives by innovating. Introduced by TECOM Group, a member of Dubai Holding, the GoFreelance package […]
Nov. 16, 2018 Jiangsu Honggang Petrochemical Co., Ltd. to Utilize INVISTA’s Latest P8 Technology for New PTA Line
INVISTA’s technology and licensing group, INVISTA Performance Technologies (IPT), and Jiangsu Honggang Petrochemical Co., Ltd. (Honggang) have reached agreement for the licensing of INVISTA’s latest purified terephthalic acid (PTA) process technology. This is the first time that INVISTA and Honggang would be collaborating to build state-of-the-art PTA assets; a further recognition by the PTA industry of the […]
Snapchatters are Fueling the Region’s E-commerce Boom
While the Middle East is poised to be among the next great e-commerce hub, Snapchat users in the UAE and Saudi Arabia are already browsing, deal hunting, and purchasing online. New data from GlobalWebIndex Q1-Q2 2018 shows that Snapchat users in the two largest GCC economiesare particularly keen to search and buy online, with more […]
Partnership helps develop cooperation among more than 360 financial institutions across MEA markets
Refinitiv, formally the Financial & Risk business division of Thomson Reuters, announced a partnership with Union of Arab Banks (UAB) to develop a strategic networking platform for UAB’s members, the financial and compliance community across Middle East and Africa (MEA). The partnership develops cooperation on a strategic dimension that benefits more than 360 financial institutions in MENA. As […]
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National Committee for Steel Industry Highlights Key Role of the Steel Industry Supporting Saudi Vision 2030 and Stimulating the Saudi Economy
Saudi Arabia’s leading steel manufacturers took the stage at the 13th Arab Steel Summit this week to elevate a discussion of how the government and private sector can work together to ensure the future competitiveness of one of the nation’s most strategically significant industries that could greatly contribute to the success of Vision 2030’s economic […]
Finastra Universe Dubai fuels discussion around innovation-driven technologies in banking sector
Finastra Universe organized by Finastra – a global Fintech force, brings together global and regional experts at the Ritz Carlton Dubai, to explore the growing impact of technology on the banking sector. Finastra Universe highlights the need for financial institutions such as banks to have a strategic digital agenda that will distinguish them from the […]
Gartner Reveals Seven Digital Disruptions CIOs May Not See Coming
Gartner, Inc. revealed seven digital disruptions that organizations may not be prepared for. These include several categories of disruption, each of which represents a significant potential for new disruptive companies and business models to emerge. “The single largest challenge facing enterprises and technology providers today is digital disruption,” said Daryl Plummer, vice president and Gartner […]
Cleanzone Middle East 2018 To Showcase Latest Innovations And Science Targeting UAE’s US$75 Billion Manufacturing Sector
The UAE’s ambitious vision to be the manufacturing hub of the Middle East will be centre of attention at a brand new conference and exhibition dedicated to cleanroom technology next week in Dubai. Cleanzone Middle East 2018 arrives as the UAE looks to invest US$75 billion in its manufacturing sector by 2025, leading to cleanroom […]
New IDC Report Examines Saudi Arabia’s Digital Government Ambitions
While digital transformation presents tremendous opportunities to revolutionize public administration and service delivery, government leaders must understand the complexities involved if they are to avoid the pitfalls that await. That’s according to a new multi-client study published by global technology research and consulting firm International Data Corporation (IDC) that aims to guide the implementation of […]
KPMG Report Highlights Bahrain’s Competitive Advantages in Doing Business in the GCC Region
A KPMG report on ‘The Cost of Doing Business in the GCC’ in the ICT sector has found that Bahrain has the most liberalised and competitive IT sector in the region. It also leads on most indicators for cost of doing business in the GCC region – a market worth US$1.5 trillion. Crucially, the report […]
Abu Dhabi National Oil Company Announces $132 Billion CAPEX Program, Integrated Gas Strategy and an Increase in Oil Production
The Abu Dhabi National Oil Company’s (ADNOC) announced, today, its plans to launch a new integrated gas strategy and increase its oil production capacity to 4 million barrels per day (mmbpd) by the end of 2020 and 5mmbpd by 2030, following approval from the Supreme Petroleum Council (SPC), the highest governing body of the oil […]
Aramex Leads UAE Winners of Digital Innovation Awards
The UAE’s most innovative organizations, led by Aramex — along with Mediclinic, AG Melco Elevator Company LLC,The Body Shop, and Truebell – have won awards for their digital transformation. SAP Quality Awards recognize the most innovative digital transformation projects delivering significant business benefits to their organizations. Aramex, the leading global provider of comprehensive logistics and […]
Al Salem Johnson Controls Stresses the Safety of its Clients
Owing to the multitudinous benefits of using Ammonia Gas instead of Freon in in Industrial Refrigeration applications, several Governments and Developed Countries are encouraging its use. Ammonia gas is a sustainable, environmentally friendly refrigerant. It does not contribute to global warming, and due to its ability to absorb more energy than its Freon counterpart, Chillers […]
Sage Marks Successful Participation in GITEX Technology Week 2018 with Key Partnerships, Charity Contribution
Sage, the market leader in cloud business management solutions, concluded a successful participation in the 38th edition of GITEX Technology Week, the largest technology exhibition and conference in the Middle East. Highlights included the signing of landmark partnership agreements with telecommunications company Etisalat and Mazoon Dairy Company, Oman’s flagship dairy project.As part of the conference […]
BASF inaugurates regional development laboratory at Dubai Science Park
BASF’s Construction Chemicals division today launched a new regional competence center, a development laboratory, at Dubai Science Park, a holistic science-focused business community in Dubai. This Laboratory opening is fully in line with BASF Construction Chemicals’ drive to expand its global R&D infrastructure for the construction industry and to reinforce the commitment to its regional […]
ITPC and STS enter strategic partnership to push SAP on Azure in MENA Region
ITPC (Swiss consulting company with global presence specialized in SAP technology) and Specialized Technical Services (STS) (the leading provider of comprehensive information technology (IT) solutions in MENA region) are pleased to announce the formation of a strategic partnership. With Microsoft Corp.’s assistance, this collaboration aims at pushing SAP on Microsoft Azure in the Middle East […]