Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
DMS signs partnership with STEP Group
DMS – which serves as the official digital arm of Choueiri Group – has partnered with STEP Group – a leading digital and new media company in the Middle East, with offices in Dubai, Beirut and Cairo. The tie-up with DMS will focus on harnessing the full potential of STEP Group’s modern digital news and […]
Virgin Mobile Stresses on the importance of enhancing “Customer Experience”
The complaint indicator released by The Communications and Information Technology Commission (CITC) showed that Virgin Mobile Saudi is the lowest in terms of complaints received by the CITC against telecom operators, which makes it the best compared to other service providers. Virgin Mobile Saudi expressed its delight with this achievement, which underscores the company’s commitment […]
Sabre Names Clinton Anderson as President, Hospitality Solutions
Sabre Corporation (NASDAQ: SABR), the leading technology provider to the global travel industry, today named Clinton Anderson as president of Sabre Hospitality Solutions (SHS), effective Aug. 7. He will succeed Alex Alt who has accepted an executive position at another company. “Clinton has demonstrated his tremendous value and executive skills leading initiatives and taking on […]
Huawei Consumer Business Group Announces 2017 H1 Business Results
Huawei Consumer Business Group today announced its 2017 first half year financial results: sales revenue for the first six months of 2017 increased by 36.2% year-on-year to CNY105.4 billion. Smartphone shipments also rose to 73.01million, a year-on-year increase of 20.6%. Richard Yu, chief executive officer of Huawei’s Consumer Business Group, said, “Our Consumer Business Group […]
Gartner Says Digital Transformation and IoT Will Drive Investment in IT Operations Management Tools Through 2020
The growth of digital business and the Internet of Things (IoT) is expected to drive large investment in IT operations management (ITOM) through 2020, according to Gartner, Inc. A primary driver for organizations moving to ITOM open-source software (OSS) is the lower cost of ownership. “While acceptance of OSS ITOM is increasing, traditional closed-source ITOM […]
- Ad
The launch of the Money Trade Coin in the Crypto Market and Exchange in UAE
In the new era of technology and online investment solution, it is required a reliable, secure and stable crypto currency to use in the regular day-to-day payment solutions and business settlements across the globe. Bit Coin Global FZE, the leading company in crypto market investment solutions; announces the soft launch of the cryptocurrency (payment solutions) MONEY TRADE COIN […]
Smart Showrooms For Smart Energy Consumption
In line with the Saudi development plans, the city of Riyadh and Jeddah witnessed the implementation of smart showrooms in a step to save on electricity consumption. Due to regional increase on energy usage at an average rate of 8% annually, companies started seeking solutions for reduction and saving on sources. Accordingly, one of the […]
Hitachi Named a Leader in the Gartner Magic Quadrant for Solid-State Arrays
Hitachi Data Systems (HDS), a wholly owned subsidiary of Hitachi, Ltd. (TSE:6501), today announced it has been positioned in the Leaders Quadrant of the July 2017 Magic Quadrant for Solid-State Arrays by Gartner, Inc., a leading global research firm. Hitachi believes its significant growth and enhancements to its all-flash Hitachi Virtual Storage Platform (VSP) F Series product […]
HUAWEI Ranked 83 in the Top 100 of the Latest Fortune 500 List
In this year’s Fortune 500 that came out recently, HUAWEI climbed up the list to the 83rd place from the 129th of last year with revenue of $78.51 billion, making the top global 100 for the first time. The Fortune 500 list has always been the most prestigious and acknowledged list that ranks large companies […]
Gartner Says Worldwide IT Spending Forecast to Grow 2.4 Percent in 2017
Worldwide IT spending is projected to total $3.5 trillion in 2017, a 2.4 percent increase from 2016, according to Gartner, Inc. This growth rate is up from the previous quarter’s forecast of 1.4 percent, due to the U.S. dollar decline against many foreign currencies (see Table 1.) “Digital business is having a profound effect on […]
Most read in Economy & Business
- Saudi Businesses Expand Investment in Agentic AI for Enterprise Operations
- Bupa Arabia Concludes Bupa Padel 2026 Tournament in Riyadh
- iSolution Earns Great Place to Work Certification in Saudi Arabia and UAE
- Fortinet and Aramco Sign Agreement to Expand Industrial Cybersecurity in Saudi Arabia
- ELSEWEDY ELECTRIC PSP and Sinohydro Sign $2.2B Rabigh 2 IPP Expansion Contract
Realizing 2030: Dell Technologies Research Explores the Next Era of Human-Machine Partnerships
In 2030 every organization will be a technology organization and as such businesses need to start thinking today about how to future-proof their infrastructure and workforce, according to a report published by Dell Technologies today. The research, led by the Institute for the Future (IFTF) alongside 20 technology, academic and business experts from across the […]
SAP Partners with Saudi Aramco to Create Digital Business Marketplace Solutions Using SAP Saudi Cloud Hub
SAP is partnering with Saudi Aramco in creating a new solutions platform to enable Saudi Aramco to launch a digital business marketplace with thousands of Saudi Aramco buyers and suppliers in partnership with SAP Ariba. Saudi Aramco says the move forms part of its digital transformation strategy and will help it and its global subsidiaries […]
SWIFT extends KYC Registry membership to all supervised financial institutions
SWIFT announces today that it has opened membership in its KYC Registry to all supervised financial institutions globally. Since the launch of The KYC Registry in December 2014, membership has been limited to SWIFT-connected supervised institutions. Starting in September 2017, all supervised financial institutions which are licensed by authorities such as central banks and regulatory […]
SAP Leads in the Database and Data Management Solutions Industry Based on Market Share Revenue Growth in Gartner Report
SAP SE (NYSE: SAP) today announced that it has been named a market share leader by Gartner in the combined market categories supporting enterprise information management — data integration, data quality, and master data management (MDM) — worldwide based on revenue for 2016.* SAP believes the achievement demonstrates its success in helping global businesses understand, […]
Kawar Energy and Huawei set out the shape of future collaboration in solar PV
Kawar Energy, the leading renewable energy solution provider in Jordan, will use Huawei string inverters in future PV plants as part of a full cooperation agreement between the two companies. Both parties will join hands together to develop the PV (photovoltaic) market in the Middle East. Mr. Hanna Zaghloul, CEO, signed the agreement on behalf […]
HUAWEI Listed on Forbes’ Most Valuable Brands of 2017
Forbes released its list of the Most Valuable Brands of 2017 recently. HUAWEI ranked the 88th with a brand value of $7.3 billion, up by 9% year on year, and was the only Chinese brand making the list. Forbes selected 100 most valuable brands every year from a pool of over 200 international brands worldwide. […]
Middle East Infrastructure Spend Tops USD 280 Billion by 2018
With the Middle East and North Africa’s infrastructure spend set to top USD 280 billion by 2018, one of the region’s largest players of people-moving machinery, ETA MELCO, is ramping up its support for mega-projects with a complete digital transformation with SAP. Across the Middle East and North Africa, governments are pouring investment into infrastructure, […]
Amazon and SOUQ.com announce completion of acquisition
Amazon (AMZN) and SOUQ.com confirm the official completion of the acquisition of SOUQ.com by Amazon. As the first step of integration, customers can now log on to SOUQ.com using their Amazon credentials. Joining the Amazon family enables SOUQ.com to continue to bring even more products and services to customers in the region and further expand […]
Gartner Forecasts Worldwide Cloud-Based Security Services to Grow 21 Percent in 2017
Growth in worldwide cloud-based security services will remain strong, reaching $5.9 billion in 2017, up 21 percent from 2016, according to Gartner, Inc. Overall growth in the cloud-based security services market is above that of the total information security market. Gartner estimates the cloud-based security services market will reach close to $9 billion by 2020 […]
Empower Wins 2Gold Awardsat the 108thInternational District Energy Association’s (IDEA) Annual Conference& Tradeshow in Scottsdale, U.S.A
Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, has topped off a stellar year by winning two goldenawards for ‘Total Number of Buildings’, and ‘Total Square Footage’ committed to district cooling services outside North America’ at a special ceremony held as part of the the 108thInternational District Energy Association’s (IDEA) […]
IDB Wins Banker Middle East Award for Digital Transformation
The Islamic Development Bank (IDB), a multilateral development financing institution with 57 member countries as shareholders, is now fully delivering on its mandate to foster socio-economic development among its member countries, thanks in large part to the recent transformation of its core banking technology, using SAP. IDB supports the growing Islamic Finance, with a recent […]
Panasonic HIT Solar Module Achieves World’s Highest Output Temperature Coefficient
Panasonic has once again achieved the highest efficiency of solar panels with a temperature coefficient of -0.258%/°C. This coefficient is the world’s highest level for a mass-produced solar panel. This time, Panasonic has improved the output temperature coefficient by 0.032 points (from -0.29%/°C) by making improvements to the “heterojunction technology,” which is a characteristic of […]