Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
Union Insurance Selects DXC Technology to Accelerate Digital Transformation
DXC Technology (NYSE: DXC), the world’s leading independent, end-to-end IT services company, today announced that it has been selected by Union Insurance, a leading provider of customer-focused insurance products to individuals and corporations in the Middle East, to migrate its complete IT infrastructure and workloads to Amazon Web Services (AWS). DXC will work with Union […]
Coinciding with the expansion of its branch network Emirates NBD – Saudi Arabia sponsors Saudi Finance and Installment Exhibition as Gold Sponsor
Saudi Arabia presented a series of products at the Saudi Finance and Installment Exhibition which concluded its second edition recently. The exhibition, which provides financing products for individuals and small and medium enterprises (SME’s), as well as opening avenues of cooperation between banks, finance companies and entrepreneurs seeking successful investment plays an important role in […]
Gartner Says Worldwide Semiconductor Revenue Grew 22.2 Percent in 2017; Samsung Takes Over No. 1 Position
Worldwide semiconductor revenue totalled $419.7 billion in 2017, a 22.2 percent increase from 2016, according to preliminary results by Gartner, Inc. Undersupply helped drive 64 percent revenue growth in the memory market, which accounted for 31 percent of total semiconductor revenue in 2017. “The largest memory supplier, Samsung Electronics, gained the most market share and […]
Investment into future technology: GROHE starts operations at new zinc manufacturing facility in Klaeng – Rayong, Thailand
As part of the international growth strategy, GROHE invests in new zinc manufacturing, doubling the capacity More than 30 million USD invested and 800 new jobs to be created within five years The most sustainable plant in Southeast Asia Complementing recent investments in all three German factories GROHE, the world’s leading provider of sanitary fittings and part […]
Schneider Electric Renews MoU with National Grid Saudi Arabia to Increase Electricity Reliability
Schneider Electric and the National Grid Saudi Arabia (SA) renewed the 3-year long Memorandum of Understanding (MoU) signed 3 years ago to continue to provide the National Grid Saudi Arabia with reliable and cost-effective electricity in Saudi Arabia, through which National Grid SA and Schneider Electric will cooperate in developing and advancing electricity infrastructure in […]
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Leading new ICT, the Road to Digital Transformation
Huawei, a leading global ICT solutions provider, kicked off Huawei Day KSA 2017 on Tuesday, December 26th, 2017 at the Four Seasons Hotel in Riyadh. Themed “Leading new ICT, The Road to Digital Transformation,” the event will showcase the role ICT is playing in driving digital transformation and building sustainable knowledge-based economies. Developing digital strategies […]
Grundfos CEO Delivers Important Remarks at the District Energy Systems for a Sustainable and Energy Efficient Future Conference 2017 in Turkey
Grundfos, the award-winning world leader in advanced pump solutions, took part in a keynote speech in the District Energy Systems for a Sustainable and Energy Efficient Future Conference 2017. The event, co-organized by the Danish Board of District Heating and the Trade Council of Denmarkin Turkey, was held on November 29 at the Swissôtel The […]
Ministry of Economy and Abu Dhabi Department of Economic Development Announcing the Launch of TIP Platform
The Ministry of Economy and the Department of Economic Development – Abu Dhabi have officially launched the TIP platform, A platform that will host a community of pioneers in technology and innovation locally, regionally, and globally. TIP will also have specialized sub-platforms and will soon launch an award managed by TIP. The launch took place […]
Avaya Successfully Completes Financial Restructuring and Emerges from Chapter 11
Avaya Holdings Corp. (“Avaya” or the “Company”) announced that it has successfully completed its debt restructuring and emerged from chapter 11. “This is the beginning of an important new chapter for Avaya,” said Jim Chirico, Avaya’s president and CEO. “In less than a year since the commencement of our chapter 11 restructuring, Avaya has emerged […]
Emaar Hospitality Group wins ‘Chinese Preferred Hotel’
Four premium luxury properties under Emaar Hospitality Group, the wholly-owned subsidiary of Emaar Properties, were awarded the ‘Chinese Preferred Hotel’ certification from Ctrip in recognition of their extensive and full offering to Chinese business and leisure travellers to Dubai. Ctrip is China’s number one travel website and Online Travel Aggregator (OTA) catering to businesses and […]
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Saudi Aramco awards $175 million contract to Baker Hughes, a GE company to boost production of Haradh and Hawiyah gas fields
Saudi Aramco has awarded a $175 million contract to Baker Hughes, a GE company (NYSE: BHGE) to drive enhanced production at the Haradh and Hawiyah gas fields, underlining the strong local partnerships of BHGE in the Kingdom. Part of Al-Ghawar, the world’s largest oilfield, Haradh and Hawiyah gas fields play a key role in supporting […]
Digital Shadows Strengthens Management Team as Business Continues to Expand
Digital Shadows, the leader in digital risk management and threat intelligence, today announced several key appointments to its management team designed to scale the business in support of company growth following Series C funding earlier in the year. Digital Shadows has appointed Samantha Murphy to the new post of Vice President Customer Success, tasked in […]
The all-new sound of Visa will debut in Visa’s global advertising campaign
Visa (NYSE: V) today announced a suite of sensory branding that will support the Visa brand in an expanded universe of connected, payment-enabled devices. These new sound, animation and haptic (vibration) cues will help signify completed transactions in digital and physical retail environments when you pay with Visa. The sound of Visa will debut in […]
Nordson EFD Launches New Optimum ESD-Safe Dispensing Components for High-End Electronics
Nordson EFD, a Nordson company (NASDAQ: NDSN), the world’s leading precision fluid dispensing systems manufacturer, has launched a new line of Optimum® ESD-safe dispensing components. The complete system includes dispense tips, syringe barrels (available in five sizes), and adapter assemblies. These components are designed specifically for precision fluid applications used in manufacturing mobile devices, wearables, […]
First Swiss Businesswomen Delegation Explores Business Opportunities in Saudi Arabia
A Swiss Businesswomen delegation met on Tuesday, 28 November 2017, in Jeddah with a number of Saudi Businessmen and Businesswomen to learn about potential commercial and investment opportunities in the Kingdom of Saudi Arabia. This comes in line with Saudi Arabia’s keenness to encourage investments and trade in promising vital sectors, and reflects the decisions […]
The Japan External Trade Organization (JETRO) and the Ministry of Economy, Trade and Industry of Japan (METI) Host Two Intellectual Property (IP) Events to Promote Cooperation between UAE and Japan
The Japan External Trade Organization (JETRO) and the Ministry of Economic, Trade, and Industry of Japan (METI) held two events to discuss the development of appropriate collaborative measures for tackling IP infringement and counterfeiting region. IP Judicial Workshop – 26 November 2017The first event aims to promote a mutual understanding of judicial system protocol and […]
Climatecoin: Crypto Carbon Revolution
-CLIMATECOIN and CARBON TRADE EXCHANGE (CTX) – GEM, closed an agreement to create the first peer to peer decentralized platform for carbon credits trading/exchange in the world. Climatecoin will become the first carbon zero cryptocurrency in the world by ‘stapling’ a carbon credit to every coin. CTX is the world’s first Global exchange for Carbon […]
Rockwell Automation Acquires Odos Imaging to Leverage 3-D Time-of-Flight Technology for Sensing and Safety Applications
Rockwell Automation, Inc. (NYSE: ROK) has acquired Odos Imaging, a Scottish technology company that provides three-dimensional, time-of-flight sensing systems for industrial imaging applications.Rockwell Automation will apply this technology to sensing products to deliver solutions to a broad range of demanding industrial applications including automotive and general assembly, packaging and material handling, and logistics. “This acquisition […]
Youth-Led Initiative “Unleash Tunisia Venture Bus” Receives the 2017 Intercultural Innovation Award.
Young Leaders Entrepreneurs and their “Unleash Tunisia Venture Bus” initiative is one of the ten global grassroots organizations receiving the 2017 Intercultural Innovation Award bestowed by the United Nations Alliance of Civilizations (UNAOC) and the BMW Group. The Intercultural Innovation Award Ceremony, held this year for the first time at United Nations headquarters in New […]
Visa Readies Digital Payments for the Projected 500,000 Visitors Traveling to Russia for the 2018 FIFA World Cup Russia™
In celebration of the Final Draw for the 2018 FIFA World Cup Russia™, Visa (NYSE: V), the Official Payment Service Partner of FIFA, released travel and spending data for the 2018 FIFA World Cup™. Throughout official FIFA venues, Visa will enable a cash-free fan experience by implementing point-of-sale terminals that accept a Visa credit or […]
In a Move to Accelerate Transparency and Development in the Diamond Industry, CEDEX and IDEX Online Join Forces
Under the agreement, CEDEX will leverage on IDEX diamond knowledge and real-time diamond prices to present it to its future exchange customers, while IDEX will use CEDEX technology to better accommodate investments in the diamond professional market. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171127005483/en/With over two decades of undisputable reputation as a prominent and unbiased market […]
Italian Major Player DAB Targets 20% Growth in the GCC Water Management Technology Market
DAB Water Technology, an Italian frontrunner in the global water management industry, brings to Dubai a selection of wide line-up, focusing on those products that are of particular interest for the Middle East. The company’s presence at the Big 5 Dubai, taking place at Dubai World Trade Centre from November 26 to 29, is aimed […]