Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
Day one of AIM Startup 2017 showcases innovative big and small projects
The inaugural edition of AIM Startup, organised in conjunction with AIM 2017, commenced today on Sunday, April 2nd in Dubai World Trade Centre. The new initiative witnessed a prolific gathering of visitors, investors and officials. AIM Startup 2017 aims to extend support to the small projects, which in turn can be the core for larger […]
Huawei 2016 Annual Report: Solid Growth and Sustained Investment in the Future
Huawei today released its audited financial results for 2016, reporting that its Carrier, Enterprise, and Consumer business groups (BGs) each achieved solid year-on-year growth. Group annual revenue was CNY521.6 billion (US$75.1 billion), an increase of 32% over 2015. Net profits were CNY37.1 billion (US$5.3 billion), an increase of 0.4%. In 2016, Huawei continued to invest […]
Top venture capitalists extend support to AIM Startup 2017
The Inaugural AIM Startup 2017 – AIM Startup is set to take place tomorrow (Sunday 2 April 2017) at the World Trade Centre, Dubai. The event is being held alongside the 7th edition of Annual Investment meeting and will host 100+ Startups, investors, government officials and business leaders from around the world, under one roof. […]
World’s smartest to converge at the Future Cities Show
The inaugural edition of ‘Future Cities Show’ in Dubai, UAE, which will run from April 2nd – 4th, will oversee some of the world’s most influential smart tech innovators converge at the show to develop key strategies and strengthen collaborations. The event will be attended by experts from varied industries, including tech entrepreneurs, futurists and […]
BRIDGESTONE UNVEILS “OUR WAY TO SERVE” AND FOCUSES SCALE AND EXPERTISE ON ADVANCING GLOBAL CSR WORK
Bridgestone Corporation (Bridgestone) today unveiled a refined global corporate social responsibility (CSR) commitment, “Our Way to Serve,” centered around three priority areas: Mobility, People, and Environment. The new commitment builds upon a decade of progress and learning via Bridgestone’s initial CSR program, the 22 CSR Focus Points. “Our Way to Serve” reflects the company’s longstanding […]
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PR_Empower’s number of customers crossed 65000 by the end of 2016
Emirates Central Cooling Systems Corporation (EMPOWER), the world’s largest district cooling services provider, revealed today that the number of its customers has increased to reach 65,000 by end of 2016. Empower underscored that the number of its customers is keeping on increasing in 2017. According to Empower, the main reason behind this increase is the […]
Souq.com brings back the biggest sale of the season, the ‘Everything For You Sale’
Following the huge success last year, Souq.com, the largest online retail and marketplace platform in the Middle East, has announced the return of their ‘Everything For You Sale’. Souq.com is encouraging people to ‘be who they want to be’ and in line with that the sale event will celebrate different personas by offering everything for […]
Accenture Launches Upgraded Banking Technology Platform at National Commercial Bank
Accenture (NYSE: ACN), the global professional services company, has successfully completed the core system replacement of the retail banking operations at the National Commercial Bank (NCB). The highly complex project which took approximately two years to complete, was part of NCB’s NextGen program, which was also undertaken with Accenture. The implementation of the project marks […]
Consumers in UAE Can Now Claim the Use of Renewable Energy with I-RECs
Dubai Carbon has signed an agreement with I-REC Standard, the international organisation that facilitates robust attribute tracking systems for the reliable procurement of renewable electricity, thus becoming the exclusive local issuer of RECs in the UAE, it was announced today. Dubai Carbon in association with the Netherlands-based non-profit firm will now provide a standard for […]
Value Added Tax in GCC countries
Value Added Tax (VAT) will be incrementally deployed across Gulf countries in the short future. Oracle can help companies in the GCC become VAT compliant and the roadshow organised today in Riyadh with Deloitte is focused on sharing insights on what companies need to do to be VAT compliant. Thamer Al Harbi, Country […]
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Partner of Choice: Canon helps partners realise real potential at Gulf Print and Pack 2017
Canon Middle East, a leader in imaging and printing solutions, is celebrating its rich customer heritage that spans a diverse range of industries from the ME region, at Gulf Print and Pack 2017. Showcasing almost a decade of brand evolution since its first participation in Gulf Print & Pack in 2009, Canon Middle East will […]
Role of free zones in spotlight at the Annual Investment Meeting (AIM) 2017
In an effort to encourage international investments and enhance cooperation between countries, the Annual Investment Meeting (AIM) which will take place in Dubai from 2nd- 4th April 2017 will discuss the role of free zones in shaping and promoting competitive economy. Spearheaded by leading experts of the industry, the discussion will focus on efforts of […]
Under the patronage of HH Hamdan Bin Mohammed, Empower participates in Earth Hour 2017
Emirates Central Cooling Systems Corporation (EMPOWER), has announced its participation in the ‘Earth Hour’ initiative, which is organised by The Dubai Supreme Council of Energy and Dubai Electricity and Water Authority (DEWA), under the patronage of HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Dubai Executive Council […]
International Government Communication Forum 2017 Convenes in Sharjah
The sixth International Government Communication Forum (IGCF 2017) concluded its first day of constructive dialogue, debate and engagement at the Expo Centre Sharjah, on a successful note. The event was officially inaugurated with a speech by the patron His Highness Sheikh Dr Sultan bin Mohamed Al Qasimi, UAE Supreme Council Member and Ruler of Sharjah, […]
Alharbi: The data revolution must be used to enhance the statistics sector
Based on its belief in the importance of the fruitful cooperation between the public and private sectors in the field of statistics, and on the ground of its concern with the advanced statistical methods and its role in updating the databases fifteen years ago, Eye of Riyadh participated in the first Gulf Statistical Forum which […]
Empower’s transmission pipelines to cross 236 km in Dubai
Emirates Central Cooling Systems Corporation (EMPOWER), the world’s largest district cooling services provider, keeps expanding its network of district cooling transmission pipelines, which has crossed236 Km by end of 2016. The remarkable expansion of Empower’s network of district cooling transmission pipelines is the result of the ongoing growth in its business and projects in Dubai, […]
SEDCO Holding Group Acquires 50% Stake in Al Yusr International Schools
SEDCO Holding Group announced its acquisition of 50 percent stake in the Jeddah-based Al Yusr International Schools (YIS) in a bid to support education and community development efforts. SEDCO Holding Group CEO Anees Ahmad Moumina and YIS CEO Zamil Al Otaibi have signed the partnership agreement at the Group’s headquarters. “Education in Saudi Arabia is […]
Huawei Saudi Arabia: We are keen to fully support in achieving the Kingdom’s Vision 2030
The Saudi Arabia’s Vision for 2030 is centered on innovation and advanced technologies that empower Saudi citizens and develop their competencies and capabilities in various sectors. Huawei is one of the key tech firms investing in the Kingdom, and supporting its efforts to build a new generation of tech-savvy entrepreneurs by transferring knowledge, skills and […]
Euromoney Set to Launch First-Ever Emirates Conference
Euromoney Conferences today announced the launch of The Euromoney Emirates Conference 2017, the first Euromoney event to be held in the UAE. Since the late 1970s, the company has organised a series of successful and high profile financial events in more than 60 countries and across the region, including the famous Euromoney Saudi Arabia and […]
Huawei signs partnership with Industrial Systems Group to manufacture UPS units in the Kingdom
Huawei Tech. Investment Saudi Arabia and (ISG) Industrial Systems Group, which is an affiliate of Al Abdulkarim Holding, have forged an alliance that will see Huawei sharing its global ICT knowledge, technical and manufacturing capability with ISG to manufacture un-interrupted power supply (UPS) units in Saudi Arabia. This manufacturing collaboration with Huawei follows the visit […]
Middle East Cloud Market Triples to USD 7.5 Billion by 2021
The Abu Dhabi Distribution Company, Qatar Petrochemical Company, and the Saudi General Authority for Zakat and Income Tax and Al Nasser Trading and Import Company were named today as among the most digitally-innovative organizations in the Middle East and North Africa. Demonstrating the strong potential for digital transformation, the Middle East’s cloud infrastructure services market […]
Innotribe reveals the secrets tosuccess for innovation in financial services
Innotribe has released a new report examining the way innovation teams from the financial services sector are harnessing innovation within their organisations. Based on interviews with 11 innovation leaders, the Innotribe report, “Dynamism in Diversity: The essentials for successful Innovation Teams in the Financial Industry,” details current innovation frameworks and best practices for developing innovation […]