Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
Dubai GEP to Share Stakeholder Success Stories at WETEX 2016
The Dubai Green Economy Partnership (Dubai GEP), launched by H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, will highlight the successful initiatives of its stakeholders at WETEX 2016 happening at Dubai World Trade Centre from 4-6 October. Visitors to the stand can see various […]
Pressing global challenges and disruptive technology will radically reshape manufacturing
It was announced today that leaders in the international manufacturing sector are set to discuss the challenges and transformations of the industry at the Global Manufacturing and Industrialisation Summit (GMIS), a world-first gathering of global governments, manufacturing businesses and civil society, that will be held from March 27 to 30, 2017, in the UAE’s capital, […]
Smart Link and Six Clients Sweep Top Honours at Middle East Contact Centre Awards 2016
Smart Link Contact Centers, a leading business process and contact centre outsourcing provider in Saudi Arabia, today announced that it has received two prestigious awards at the Middle East Call Centre Awards (MECC) 2016 held in Dubai recently. Smart Link’s efforts were also recognised as their clients – Saudi Arabia’s Human Resources Development Fund (HRDF), Saudi […]
SAP to Showcase Government Innovations for Citizen Happiness at GITEX
The UAE government can save nearly USD 5 billion if the country undergoes full digital transformation, industry experts announced today ahead of GITEX Technology Week 2016. Government digital transformation can save 1.3 percent of GDP, according to a recent report by consultants Deloitte. Extrapolating to World Bank figures that show the UAE’s GDP was USD […]
The Future of Loyalty in RetailIn association with Future Agenda, the global open foresight programme.
The Future of Loyalty in RetailIn association with Future Agenda, the global open foresight programme. The future of retail holds many unanswered questions: will the high street win out? Is it all about speed of fulfilment? Will technology take over from the traditional sales assistant? The future of retail loyalty however, is somewhat clearer. Retail […]
Huawei Signs MoU with Royal Commission for Jubail and Yanbu for Smart Cities
On the sidelines of HRH Deputy Crown Prince Mohammad Bin Salman visit to China, Huawei Tech. Investment Saudi Arabia Co. LTD signed a Memorandum of Understanding with the Royal Commission for Jubail and Yanbu. This agreement aims to support the Saudi Vision 2030 roadmap of transforming the Kingdom to be a pioneering and successful global […]
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GCC FinTech Startups ‘Cash In’ on Millennial Banking Needs
GCC Financial Technology (FinTech) startups are cashing in on the always-connected banking habits of Millennials, industry experts announced today in the build-up to GITEX 2016. There is a surge in growth of “moneyhawks” – the high-income, and under-35-year-old customers who want constant mobile access to their banking and finance accounts. Banks often struggle to profit […]
Over 35 percent Companies to Completely Outsource Their Facility Management Services in the Region
A recent business confidence survey conducted by the British Institute of Facilities Management on the Middle East’s FM market forecasted a very positive growth, noting that 36 percent of participants intend to outsource their FM services completely. In comparison, 60 percent expect more outsourcing of FM operations in the future. Instead, a soft FM service […]
Mimecast Study: 45 Percent of Organizations Not Prepared for Malicious Insiders
Mimecast Limited (NASDAQ: MIME), a leading email and data security company, released new data* revealing that organizations globally believe they are their own worst enemy when it comes to cybersecurity, with 45 percent saying they are ill-equipped to cope with the threat of malicious insiders and twice as many, 90 percent, calling malicious insiders a […]
Middle East to be Most Significant Market for Automotive Services with over 4 million Annual Light Vehicle Sales by 2020
The Middle East remains one of the fastest growing services market for automobiles with 60% more cars expected to ply in the region by 2020, according to a recent study by Frost and Sullivan. This, coupled with the fact that the region experiences harsh climate conditions, and is seeing an increased demand for convenience, has […]
Report: Disruptive technologies to evolve GCC real estate sector
The GCC real estate market has witnessed remarkable growth over the past years, with the sector remaining resilient despite the effects of oil price fluctuations. In the UAE alone, the local industry is expected to climb at a compound annual growth rate of 6.4 per cent from 2015 to 2019. Despite the regional market’s strong […]
Huawei obtains a commercial license to invest in the kingdom of Saudi Arabia and establish a center for innovations Total purchases from the local market are estimated at SR 300 million
During the scheduled visit of His Royal Highness Prince Muhammad bin Salman bin Abdulaziz, Deputy Crown Prince and Chairman of the Council of Economic and Development Affairs to China, Huawei; a leading global ICT solutions provider, received on Wednesday, August 31, 2016, an investment license from his excellency Dr. Majid Al-Qasabi, Minister of Commerce and […]
KING ABDULLAH ECONOMIC CITY SIGNS HIGH-VOLTAGE CABLE FACTORY DEAL WITH INTERNATIONAL TRADE GATEWAY
King Abdullah Economic City (KAEC) has signed a contract with The International Trade Gateway Co. Ltd. (ITG) for the purchase of a 9,000sqm area of land located in Phase 1 of the Industrial Valley at KAEC. The land will be used to build a high voltage cable factory to international standards, and will be the […]
SWIFT Facilitates ISO 20022 Global Harmonisation
Following the launch of the ISO 20022 Harmonisation Charter, an industry-driven framework to facilitate the rollout of ISO 20022 globally, SWIFT has formed a global market practice task force of markets infrastructures and banks. Sponsored by the Payments Market Practice Group (PMPG), the task force aims to address the evolving ISO 20022 standards requirements of […]
Puridiom Acquisition Extends the Capabilities of the BravoAdvantage platform.
(ME NewsWire): Tejari, the strategic procurement technology provider, has announced BravoAdvantage, its procurement platform, will now offer a complete end to end source-to-pay solution in light of sister company BravoSolution’s acquisition of privately-held on-demand procurement and AP solutions company, Puridiom. This capability will help businesses efficiently manage the entire procurement lifecycle to drive superior savings. […]
Award Winning KSA Pharmaceutical Chain ‘Al Dawaa’ Launches E-Store Exclusively on SOUQ.com
SOUQ.com, the Middle East’s largest online retail and marketplace platform has announced the launch of an exclusive e-store of the award winning Al Dawaa Pharmacies in the Kingdom of Saudi Arabia (KSA). This collaboration will provide customers in the KSA a convenient access to an extensive collection of cosmetic and personal care products along with […]
Sakr Real Estate: Introducing the Unprecedented Concept of SMART VALLEY Changing the paradigm of the Real Estate Sector
(ME NewsWire) In a bold move towards advancement and innovation, Sakr Real Estate unveiled their unparalleled project entitled “The Smart Valley”, a unique concept to be done for the first time in the Middle East, through two consecutive day’s event that hosted a big number of attendance including Celebrities, public figures and clients. The event took place […]
Saudi Industrial Development Fund and SAP Partner to Enhance IT Solutions
The Saudi Industrial Development Fund (SIDF) and global enterprise software company SAP announced today with a new partnership. Driving the manufacturing sector’s innovation-led growth, the government organization SIDF will use advanced SAP enterprise resource planning, business planning and consolidation, and business intelligence to enhance the SIDF’s ability to issue loans for manufacturers. “SIDF is working […]
10th World Future Energy Summit Demonstrates the Business Case for Sustainability
With the cost of solar energy plummeting, the World Future Energy Summit 2017 (WFES) will showcase an unprecedented range of financially profitable clean energy solutions, opening up opportunities for green tech companies as the MENA region moves to achieve ambitious sustainability targets. Figures from the International Renewable Energy Agency (IRENA) show the installed cost of […]
axiom Brings ‘Experiential Shopping’ to Abu Dhabi with First-of-its-Kind Retail Concept in the Emirate
Shopper expectations in the UAE capital are evolving from being product-based to experience-based, according to the CEO of UAE’s largest mobility retailer, axiom telecom. “Abu Dhabi shoppers are largely comprised of young Millennials who are looking for a non-traditional retail experience, one characterized by the ability to experience products before making a purchase,” says Fahad […]
Moody’s: Kuwait’s Fuel Subsidy Reform Is Credit Positive
On 1 August, Kuwait’s (Aa2 negative) cabinet approved a series of fuel-related subsidy reforms, including an 83% increase in higher-quality ultra-premium petrol prices and a 42% increase in lower-quality octane-91 petrol prices, which will go into effect on 1 September. Moody’s says that these fuel price reforms are credit positive for the sovereign because they […]
Saudi Arabia showing great interest in BYOD style of working,
Organisations in the MENA region are taking steps to embrace the ‘Office of the Future’ concept, revolutionising how their employees work and operate. This is evident in the Office Insights 2016 report released by Canon which states that 63% of organisations in the MENA region see value in the ability to print remotely from a […]