Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
Securing the digital transformation journey in Kingdom of Saudi Arabia
Earlier this year, Saudi Arabia approved its National Transformation Program and Saudi Vision 2030, making great headway in economic diversification. Key to these goals is a nationwide digital transformation initiative to improve the Kingdom’s technology infrastructure, drive innovation and develop human capital. These issues and more will be addressed at the upcoming Kingdom Cyber Security […]
Thomson Reuters launch Venture Capital Report on Economic Development in GCC
Thomson Reuters, the world’s leading provider of intelligent information for businesses and professionals, today released the findings of a Venture Capital (VC) Report on Economic Development in Bahrain. The report was launched at the World Islamic Banking Conference in Bahrain. The study covers recommendations from leading market experts and exclusive interviews with market practitioners. It […]
Abu Dhabi Ports observes Commemoration Day and celebrates 45th National Day
Abu Dhabi Ports, the master developer, operator and manager of the Emirate’s commercial and community ports as well as Khalifa Industrial Zone, has observed Commemoration Day and celebrated the UAE’s 45th National Day on November 30. Held at Abu Dhabi Ports’ offices at Al Taweelah, the event was kicked off with flying the UAE flag […]
Sabre taps Traci Mercer to lead B2B digital commerce for hotel, car, cruise and rail
Sabre Corporation (NASDAQ: SABR), the leading technology provider to the global travel industry, has appointed Traci Mercer as senior vice president of hotel, car, cruise and rail, to lead commercial efforts and supplier relationships for the company’s growing land and sea customer portfolio worldwide. In this position, Mercer will focus on defining a strategic direction […]
THE COCA-COLA COMPANY AND NATIONAL BEVERAGE COMPANY EXPAND INVESTMENT IN PALESTINIAN BUSINESS AND COMMUNITIES IN GAZA
The Coca-Cola Company and National Beverage Company (NBC) today officially inaugurated a new Coca-Cola bottling facility located in Gaza, which represents a US$20 million investment in the region. The new bottling facility further expands National Beverage Company’s Palestinian operations to four bottling plants and four distribution centers, and immediately creates 120 direct jobs in Gaza, […]
Sabre empowers travel agents with virtual payment technology for air bookings
Travel agents face it every day: payment and settlement for air travel that requires multiple entries in the reconciliation process, ultimately driving cost and inefficiencies. While corporations look to increase the security of business travel accounts with high credit limits and reduce the number of travelers using personal credit cards to book travel, both corporations […]
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Saudi Hollandi Bank shifts to a better future as it rebrands to Alawwal Bank
Saudi Hollandi Bank, announced today that it has rebranded to Alawwal Bank. The name change marks the start of a transformation that will see the bank build on its reputation for innovation and service excellence. The new branding highlights the bank’s commitment to supporting the growth of the country’s economy while meeting the demands of […]
SWIFT Announces the Business Forum UAE in Abu Dhabi
SWIFT, a global provider of secure financial messaging services, announces today that it is hosting its UAE Business Forum in Abu Dhabi on December 7th. Senior representatives from the UAE’s banking and financial industry will join regulators and policymakers to discuss the challenges and opportunities for the country’s financial services industry. The Forum will explore […]
80 % of Marketers Say that a Marketing Budget is ‘Very Important’
BR Communications, the award-winning PR and Marketing Agency in the Middle East recently conducted a survey on the ‘Marketing Budgets and Preferences’ of business organizations in the region. The survey was administered to ascertain market appetite for marketing activities and preferences within the current economic climate. In initial results, BR Communications has gained insight into […]
Hempel Paints to Transfer All of Saudi Arabia’s Manufacturing Operations to New Factory in Jeddah, Plans to Produce 40 Million Litres Annually
Hempel Paints, a global supplier of marine, protective and decorative coatings, announced plans to move its entire production in Saudi Arabia to its new plant in Jeddah’s Second Industrial City as part of a strategy aimed at meeting the needs of its Saudi customers. Inaugurated two years ago, the factory in Jeddah is Hempel’s first […]
Empower underscores importance of ‘UAE Innovation Week 2016’ in reinforcing innovation culture in public and private sectors
Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, said that ‘UAE Innovation Week 2016’, taking place from 20 to 26 November with participation of government, private and academic entities, and various segments of society, is contributing in reinforcing the UAE’s position as a global hub for innovation. It is also […]
MIDDLE EAST TECHNOLOGY COMPANIES PITCH FOR US$10m AS PART OF ‘CLOUD 10’ PROGRAMME
Seven young technology companies from the GCC region travelled to London, UK, last week to pitch for US$10m in front of a panel of investors as part of the Cloud 10 technology accelerator programme or Scalerator, powered by Amazon Web Services (AWS). The companies pitched to a panel of high profile international investors that included: […]
Euro surpasses RMB in traditional trade finance
Since the launch of the first SWIFT RMB Tracker in November 2011, the RMB has shown stellar growth for payments, whilst RMB usage by value in traditional trade finance – letters of credit and collections – has been decreasing since 2014. The Chinese currency is now the third-most-active currency in trade finance, after the euro, […]
Leading Economist George Magnus to Speak at Euromoney Qatar 2016
George Magnus, the leading economist and the man credited with predicting that the US sub-prime crisis would lead to the 2008 recession, will speak at The Euromoney Qatar Conference 2016 in December, as one of the keynote presenters. In his international keynote, he will examine the factors weighing down global growth, the challenges being created […]
Financial companies delivering better value for customers in loyalty programmes compared to other sectors
A survey of loyalty programme members in the UAE released today by Collinson Group has found that financial services brands are generating value and support from customers through loyalty initiatives. The study found that three quarters (75 percent) of loyalty programme members were part of a financial services programme, compared to airline carriers (65 percent) […]
ad58d6457a284447Qatar Start-ups to Drive Job Creation for Tech Entrepreneurs, says MOTC
Qatari start-ups will drive the country’s Digital Economy and boost job creation in the field of technology, the Ministry of Transport and Communications (MOTC) announced recently at SAP’s first Start-up Focus Event in Qatar, hosted by start-up enabler and technology company SAP. The MOTC and its Digital Incubation Center (DIC) is supporting the launch of […]
China Homelife Exhibition 2015 in Dubai Confirms 25%
China Homelife Exhibition 2015 returns to Dubai with over 1100 participants from six core sectors which include Textile & Garments, Furniture, Home Electronics, Building Materials, Lighting and Household Articles & Gifts. As the largest sourcing platform for Chinese products in the Middle East and North Africa, the exhibition caters to the increasing demand for Chinese […]
SEDCO Capital Wins Best Asset Manager 2016 Award
SEDCO Capital, a leading Saudi asset management firm, has once again received recognition from Global Investor/ISF MENA Awards 2016 as “Asset Manager of the Year: Saudi Arabia”. Meanwhile, ISLAMICA 500 ranked Hasan Al-Jabri, Chief Executive Officer of SEDCO Capital, as top 50 leaders who make the Islamic Economy in 2017. Al Jabri expressed delight at […]
SWIFT’s KYC Registry crosses 3,000-member milestone
More than 3,000 financial institutions have signed up to use The Know Your Customer (KYC) Registry, SWIFT’s centralised repository that maintains a standardised set of information about financial institutions required for KYC compliance. Launched in December 2014, The Registry provides a secure, cost-effective KYC solution that enables banks, fund distributors and custodians to maintain and […]
Saudi Arabia Drives Energy Innovation with Advanced Construction Technology
The Kingdom of Saudi Arabia is realizing Saudi Vision 2030 energy goals with advanced offshore construction technology, experts announced today in the build-up to ADIPEC 2016. Saudi Vision 2030 aims to increase oil and gas localization from 40 percent to 75 percent. Supporting these energy goals, leading Middle East’s leading firms are driving investment in […]
NDCs and Global Stocktake
In Paris in December 2015, countries adopted the historic international climate agreement at the U.N. Framework Convention on Climate Change (UNFCCC) Conference of the Parties (COP21). Ahead of this moment, countries outlined what post-2020 climate actions they intended to take under the new international agreement. ‘Intended Nationally Determined Contributions’ identified the pledges and actions national […]
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The International District Cooling Conference 2016 concluded yesterday (Tuesday, 15 November 2016) at Jumeirah Beach Hotel in Dubai with the attendance of officials and key executives from the district energy industry, along with hundreds of visitors and exhibitors. Held under the theme “A Climate Solution”, the conference was hosted by the Emirates Central Cooling Systems […]