Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
Ooredoo Wins Two Investor Relations Excellence Awards
Ooredoo Q.S.C. (“Ooredoo”) – Ticker: ORDS won “Best Company for Excellence in Investor Relations” and “Best Investor Relations Website” awards at the second Qatar Stock Exchange (QSE) Investor Relations Excellence Awards ceremony. Held on Monday, February 6th 2016, the event recognized Ooredoo’s best practice in investor relations and its superior contribution to ensuring transparency and […]
Fortinet Reports Fourth Quarter and Full Year 2016 Financial Results
Fortinet® (NASDAQ: FTNT), a global leader in high performance cyber security solutions, today announced financial results for the fourth quarter and full year ended December 31, 2016. “We are pleased with our strong finish to 2016, demonstrating our strong technology advantage and revenue growth,” said Ken Xie, founder, chairman and chief executive officer. “Our ability […]
SOUQ.com and SAP Tie-Up to Accelerate Real-Time Transactions and Fuel Middle East E-Commerce
Real-time digital transactions will transform Middle East e-commerce by 2020, SOUQ.com, the region’s largest e-commerce platform, announced today in a tie-up with SAP. In line with this prediction, the partnership between SOUQ.com and SAP will help accelerate real-time transactions to support the scaling up of Middle East small- and medium-sized enterprises (SMEs), and further drive […]
What’s on the horizon for Saudi real estate market?
The consumers’ current economic trends and surgical budget trims have recently impacted the Kingdom’s real estate market. However, the big cheer from the home buyers is the recent mortgage reform announcement from the government to revive the industry, which includes: mortgage cap to 85%; buyer investment/down payment to 15%; and several housing units by the […]
65% of Businesses in UAE and Saudi Arabia Confess Lack of Digital Skills and Budget Hinder Digital Transformation
According to a new research by Dell Technologies, only 42% of businesses in the UAE and Saudi Arabia exhibit a strong growth on their journey to digital readiness. Furthermore, emphasizing on the overall regional capabilities, the research states that businesses in the Europe, Middle East and Africa (EMEA) region are maintaining an average pace of […]
- Ad
Saudi Construction Market to Double to Over SAR 360 Billion by 2025
Advanced construction technology will be vital for delivering Saudi Vision 2030 mega-projects on time and on budget, experts announced today ahead of The Big 5 Saudi Arabia. The Kingdom’s construction market is set to more than double, reaching a record high of SAR 362 billion in 2025, from SAR 170 billion in 2016, according to […]
Energizing the Infrastructure Industry with Phoenix Contact’s Inspiring Innovations
Phoenix Contact, an electrical engineering company is set to participate at the upcoming 42nd edition of the Middle East Electricity (MEE) 2017. The Phoenix Contact stall will be located at booth number 6A10 in hall number 6 at the Dubai World Trade Centre from 14 – 16 February 2017. Phoenix Contact will be displaying a […]
Abu Dhabi Ports attracts Emirati talents at Tawdheef 2017
With the aim of attracting Emirati talent aspiring to lead the dynamic operations of ports and industrial zones, Abu Dhabi Ports, is participating at Tawdheef 2017 which is being held between 30 January and 1 February at Abu Dhabi National Exhibition Centre (ADNEC). As part of its participation at Tawdheef, Abu Dhabi Ports will unveil […]
Millennial Appetite for Mobile Apps Fueling Growth of UAE Tech Startups
Today we live in a world where we can complete our most routine, yet often time consuming tasks, be it doing the laundry, booking transportation, scheduling a delivery, or merely ordering food, with the touch of a button. And in a market where there is a distinct appreciation for convenience, this is proving to be […]
Empower heads to ASHRAE Winter Conference and AHR Expo 2017 in USA
A senior delegation headed by HE Ahmad Bin Shafar, CEO of Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, has headed to Las Vegas, USA, to participate in the American Society of Heating, Refrigerating, and Air-Conditioning Engineers (ASHRAE) Winter Conference 2017 and AHR Expo 2017 which are being held from 28 […]
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
LG ANNOUNCES FOURTH-QUARTER AND FULL-YEAR 2016 FINANCIAL RESULTS
LG Electronics Inc. (LG) today announced a 2016 operating profit of KRW 1.34 trillion (USD 1.16 billion), 12.2 percent increase from 2015 due in large part to strong performance by home appliances, air solutions and home entertainment. For full-year 2016, LG reported revenues of KRW 55.37 trillion (USD 47.92 billion) and net income of KRW […]
Moody’s: Saudi Banks’ Rising Provisioning Charges Erode Profits
Last Thursday, the last Saudi domestic bank submitted its preliminary financial results for 2016 to the Saudi stock exchange. Saudi banks reported a 5.4% year-on-year decrease in net profits, mainly because of rising provisioning charges, a credit negative. The provisioning increase reflects asset quality challenges amid low oil prices. In line with 2016 results, we expect that Saudi […]
Smart Stores Expo Ends on a Positive Note
Smart Stores Expo that concluded on Wednesday, 25th January 2017, hosted several local and international retail solution providers and attracted numerous attendees in the three-day event. According to the organisers, the show received an overwhelming response from industry peers and visitors alike, with exhibitors delighted with the quality of the visitors. The event played host […]
RMB internationalisation stalls in 2016
SWIFT data shows that compared to 2015 the payments value for the RMB decreased by as much as 29.5% in 2016. The RMB’s share as an international payments currency dropped from 2.31% in December 2015 to 1.68% in December 2016, ending the year as the sixth most active currency for international payments. RMB payments value […]
Smart Stores Expo 2017 continues to Garner Huge Industry Response
UAE retail sector is fast adopting innovative technologies; this was evident from the latest technologies showcased at Smart Stores Expo being held at Abu Dhabi International Convention Centre from 23 to 25 January 2017. The largest event for the retail sector in the region, for the first time, showcased innovative concepts in four broad categories […]
Sage ‘Advice Roadshow’ to discuss SMAC for Business Innovation
Sage, the market and technology leader for integrated accounting, payroll and payment systems, will hold a luncheon discussion on the role of SMAC (social, mobile, analytics, and cloud) technologies in business innovation. The event takes place on 06 February 2017 from 8:30AM—2:00PM at Shangri-La Hotel, Sheikh Zayed Road, Dubai. The Sage luncheon discussion will include […]
Panasonic Wiring devices certified by Emirates Authority for Standardization and Metrology (ESMA) for Emirates Quality Marking
Panasonic received the Emirates Quality Mark for its wiring devices, demonstrating the company’s commitment to product excellence and customer safety. Panasonic Homes & Living offers a broad spectrum of Switches & Sockets, LED Lightings, Switchgears, Solar Panels, Energy Recovery Ventilators (ERV), Air Moving Equipment (AME), Ventilation Fans, and Ceiling Fans & Electric Fans. Ranked no […]
Barclays Reinforces Wealth and Investment Management team servicing MENA
Barclays announced today the appointment of three new senior bankers in its Wealth and Investment Management division for Middle East and North Africa (MENA). Antoine Roger Chemali and David Stephan both join Barclays Wealth and Investment Management division as directors, while Owen Dayson joins as a Vice President. All three bankers will cover MENA with […]
H.E. Mohamed Helal Al Muhairi Opens Smart Stores Expo 2017
H.E. Mohamed Helal Al Muhairi, Director General, Abu Dhabi Chamber, inaugurated the first edition of Smart Stores Expo 2017 at Abu Dhabi National Exhibition Centre (ADNEC) on 23 January. The inaugural event opened its door to several leading retail professionals across the region to showcase the future of retail empowered by technological innovations and advancements. […]
FTSE 100 CEO Stephen Kelly says small businesses are still being ignored as Davos wraps up
Global research by Sage highlights that only 67% of small businesses feel represented by politicians in their country’s decision making. The data was published in the week of the annual World Economic Forum (WEF) where politicians and big business will gathered in Davos to debate the global economic picture. In Dubai where 95% of the […]
AlertEnterprise Expands Operations in the Middle East, Responding to Growing Business Ahead of INTERSEC 2017 in Dubai
Responding to growing business in the Middle East and North Africa, AlertEnterprise, the leading Silicon Valley based provider of Security Convergence software, has appointed Amid Al-Shanteer as Vice President of Sales for the Middle East and North Africa (MENA) market effective January 16, 2017.In a region dominated by critical industries such as Oil & Gas, […]
The IDE summits registered a growth of 44.21% in 2016 compared to 2015 with 2600+ participants from the related businesses all across the globe
IDE is a leading global procurement firm, creating exclusive, captivating, and unique deal flow initiatives to boost businesses and elevate corporations’ presence in the market. As one of the emerging leaders in the B2B realm, IDE is committed to creating value for each and every participant in related events by delivering remarkable experiences that build […]