Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
Huawei Consumer Business Group Announces 2018 H1 Business Results
Huawei Consumer Business Group (CBG) announced its business results for the first half of 2018. The company reported solid growth, with global smartphone shipments at 95+ million units. According to IDC, Huawei rises to become the world’s second largest smartphone manufacturer in Q2 with the global market share of 15.8%. Richard Yu, CEO of Huawei […]
Thomson Reuters Hosts 10th Annual Compliance and Anti-Money Laundering Seminar in Saudi Arabia
Thomson Reuters will host the 10th Annual Compliance and Anti-Money Laundering Seminar on September 26 & 27, 2018 in Riyadh, Kingdom of Saudi Arabia. The seminar, which celebrates its tenth round this year, will take place in partnership with the Institute of Finance of the Kingdom of Saudi Arabia and under the patronage of His […]
Sabre appoints new head of finance for the Middle East
Sabre Corporation (NASDAQ: SABR), the global technology provider to the travel and tourism industry, has appointed Sumit Chaudhary as head of finance for Sabre Travel Network Middle East (STNME). Sumit will lead financial operations for the Middle East, a key growth area for Sabre. He is tasked with optimizing financial performance across the region, as […]
Uber introduces personal accident insurance for Driver and Delivery Partners across Saudi Arabia
Uber today announces the launch of ‘Injury Protection’ – a new insurance program which covers Driver and Delivery Partners who use Uber across Saudi Arabia – in partnership with AXA, one of the world’s most trusted insurer. Stemming from the company’s global commitment to the safety and security of its Driver and Delivery Partners, a […]
TADAWUL PUBLISHES ITS ANNUAL REPORT ‘EXPANSION AND DIVERSIFICATION’
The report provides details on Tadawul’s 2017 performance, during which Tadawul ranked as the 25th largest stock market of the World Federation of Exchanges, with a market capitalization of 451 billion USD at the end of 2017. Furthermore, the report reveals Tadawul’s significant growth in net income reaching 129.8 million SAR at 31 December 2017 […]
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Tally Solutions expresses positive sentiments about the new announcement
The United Arab Emirates is the most preferred tourist destination in the Middle East and to continue its positive momentum, tourists visiting the country will be entitled to claim back any Value Added Tax (VAT) payments they are charged. “The UAE has become a regional magnet for foreign investors and tourists, and the move to […]
Ajman Media City Free Zone, The Brand New Investment Hub Of UAE, Announces A Strong Portfolio Of Cost Effective Business Services
Ajman Media City Free Zone, a world-class free zone hub for the creative, media, and entertainment industry announce customer-friendly cost-effective packages for new business set-up in the UAE. H E Sheikh Abdul Aziz bin Humaid Al Nuaimi, Chairman of Ajman Media City Free Zone said ahead of the official launch of the free zone: “Globally, […]
Dr. Sheikh: Privatization of the Aviation Sector is Set to Strengthen the Saudi – US Partnership Subtitles
Dr. Sheikh: Privatization of the Aviation Sector is Set to Strengthen the Saudi – US Partnership Subtitles• Acquisition of the technology in exchange for local unprecedented accesses the key for success in the Saudi market• Saudi-US partnerships form a sustainable economic alliance by enabling companies to expand beyond their borders and reach new markets• Privatization […]
Canon highlights importance of Customer Delight during Service Partners’ Forum 2018
Canon Middle East hosted the Service Partners’ Forum 2018, bringing together heads of the service function from partner organisations across the Middle East. Three directors from Canon Europe joined Canon Middle East executives to lead sessions during the forum, which took place in Dubai. Attendees learnt about Canon’s updated service solutions and products, and were […]
SAUDI STOCK EXCHANGE ADDED TO S&P DJI INDEXES
The Saudi Stock Exchange (Tadawul) is pleased to announce today that S&P Dow Jones Indices (S&P DJI), a leading provider of global equity indexes, upgraded the Kingdom of Saudi Arabia to “Emerging Market” from its previous “Standalone Market” country classification. The move by S&P DJI follows the recent decisions by MSCI and FTSE Russell to […]
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180725-Corporates pilot new multi-bank payments tracking on SWIFT gpi
SWIFT, along with a number of corporates and banks, today announces plans to start testing an enhanced multi-bank standard to further improve the cross-border payments experience for multi-banked corporates. This enhanced standard, designed and built in conjunction with 10 multinational corporates and 12 leading banks, streamlines the process for corporate treasurers by allowing them to […]
Infor Wins Major Digital Contract to Support Danube Home’s Regional Expansion
Infor, a leading provider of industry-specific cloud applications, today announced that Danube Home has invested in Infor SCE – a leading WMS (warehouse management system) – and its Infor OS (operating services platform) to accelerate its digital transformation as the company expands across the region. Infor’s implementation partner involved in the implementation is Vinculum, the […]
Sabre establishes Travel Solutions organization, expands technology leadership team to accelerate strategy and better serve customers
Sabre Corporation (NASDAQ: SABR) today announced changes to its organizational structure and additions to its technology leadership that reinforce the company’s commitment to the next generation of retailing, distribution and fulfillment while accelerating development of the world’s most advanced travel platform. Dave Shirk has been promoted to executive vice president and president of Travel Solutions, […]
Huawei Tech Investment Saudi Arabia’s Market Share Increases by 27%
Huawei Consumer Business Group (CBG), has increased its market share in the MEA by 31.25%, according to the GFK May 2018 report, showing strong device performance and steady growth in the region. In May 2018, GFK reported that Huawei CBG market share in the Middle East and Africa was 21%, an increase of 31.25% when […]
Selfie Nation: New Study Finds that More Than Half of the Saudi Arabia & UAE Residents Take Selfies Every Day
Unless you’ve been living under a rock – and likely even then – you’ve definitely taken at least one selfie. Now an official word in the English dictionary, the ‘selfie’ isn’t just a passing craze, it’s a defining revolution that’s influenced human psychology, sociology and technological advances. Selfies have become the new mirror thanks to […]
Mohammed Bin Rashid Al Maktoum City, District One announces strategic partnership with Dubai Islamic Bank offering an exceptional payment plan for its apartments and villas
Mohammed Bin Rashid Al Maktoum City, District One, announces a strategic partnership with Dubai Islamic Bank to offer customers an exceptional extended payment plan for its luxury apartments and villas. Mohammed Bin Rashid Al Maktoum City, District One; a luxurious & elegant lifestyle community, and located minutes away from Downtown Dubai. It brings together a […]
UAE to lead the world in VAT innovation
A recent report by Global Innovation Index 2017 stated that UAE ranks 1st in MENA region in terms of innovation. The United Arab Emirates has always adopted an innovative methodology, noting that innovation has become a future necessity for the development of world nations. And with the introduction of Value Added Tax (VAT) this year, UAE […]
Jean-Pascal Tricoire appointed to the Board of the United Nations Global Compact
UN SecretaryGeneral Antonio Guterres has appointed Jean-Pascal Tricoire, President of Global Compact France and Chairman & CEO of Schneider Electric, to the United Nations Global Compact Board. The UN Global Compact Board plays an important role in shaping the strategy and policy of the initiative, which acts as the United Nations flagship for responsible business […]
ALMANSOORI DELIVERS FACILITIES FOR KENYA’S FIRST OIL WELLS
AlMansoori Specialized Engineering, the leader in oilfield services in the Middle East, has successfully contributed to the Early Oil Pilot Scheme (EOPS) launch leading to Kenya’s first oil production and export programme by providing facilities for the landmark project. The $15 million contract with Tullow Oil, part of Kenya’s EOPS, included the provision of degassing […]
SADAFCO holds successful Extraordinary General Assembly Meeting
Saudia Dairy and Foodstuff Company (SADAFCO) has successfully held its Extraordinary General Assembly Meeting (EGM) earlier last week in Jeddah and concluded formalities for the company’s 2017-18 Financial Year results. The annual general meeting was deemed as being Extraordinary as one of the items on the agenda was approval of several changes in Company Law […]
Gartner Says 5G Networks Have a Paramount Role in Autonomous Vehicle Connectivity
5G networks may be as much as 10 times more efficient than 4G networks. With this new level of network capability, communications service providers (CSPs) can secure future market opportunities with manufacturers of autonomous vehicles (AVs) in the fields of driver safety and data processing and management, according to Gartner, Inc. AV systems and sensors […]
Starbucks successful Saudization campaign gathers pace
Saudi employment jumps from 9% in January 2017 to 23% in July 2018 Starbucks, the world’s leading coffee brand, announced that its efforts to localize jobs in its outlets in Saudi Arabia have paid off, with increasing number of Saudi men and women now joining the company in various positions. Launched in 2017, Starbucks’ ongoing […]