Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
New Research Cisco Reveals the Current State of Digital Transformation in Retail
Cisco (NASDAQ: CSCO) – Analysts are hailing 2016 as the best year for holiday sales growth since 2005. However, this growth is not coming from the traditional brick and mortar channel. Instead, Internet shoppers saved the holiday season by setting new records for online sales during Black Friday, Cyber Monday and Bounceback Tuesday. This has huge […]
Middle Eastern Debt issuance reached US$77.8 billion in 2016
Thomson Reuters, the world’s leading source of intelligent information for businesses and professionals, today released the annual investment banking analysis for the Middle East region. According to estimates from Thomson Reuters / Freeman Consulting, Middle Eastern investment banking fees reached US$820.8 million during 2016, an 18% increase compared to fees recorded during 2015 and the highest […]
New Sabre report identifies consumer behaviours driving opportunities for hotels in Middle East
A study released by global technology provider, Sabre Corporation (NASDAQ: SABR), in collaboration with TrendWatching, has revealed new consumer shopping and buying trends emerging among European and Middle Eastern consumers that could present new opportunities for hotels in 2017. The technology company, which provides hotel reservations, distribution and marketing technology to more than 32,000 hotel properties […]
Empower participates in World Future Energy Summit in Abu Dhabi
Emirates Central Cooling Systems Corporation (EMPOWER), the world’s largest district cooling service provider, is participating in the 10th World Future Energy Summit (WFES), being held as part of Abu Dhabi Sustainability Week 2017, until Thursday (19 January), at the Abu Dhabi National Exhibition Centre. The company underscored its determination to highly contribute in implementing the Dubai Clean Energy […]
Abu Dhabi Ports Launches HSE Award
As part of its efforts to reinforce safety practices in workplace, Abu Dhabi Ports, the master developer, operator and manager of the Emirate’s commercial and community ports as well as Khalifa Industrial Zone, has launched a health, safety and environment (HSE) award. Aimed at recognising the contributions of individuals, government and private entities and partners […]
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Digital technology and online shopping re-shaping UAE Retail Industry
Consumer sentiment and spending levels continue to rise despite the effect of falling oil prices on the regional economy, according to a recent survey conducted by Virtual Info Systems (VIS), organisers of the first Smart Stores Expo (SSE) happening at ADNEC, Abu Dhabi from 23rd-25th January 2017. The survey conducted over a period of six […]
QNB Group: Financial Results for the Year Ended 31 December 2016
QNB Group, the largest financial institution in the Middle East and Africa (MEA) region, announced its results for the year ended 31 December 2016. For the twelve months ended 31 December 2016, Net Profit reached QAR12.4 billion (USD 3.4 billion), up by 10% from last year. Total assets reached QAR720 billion (USD198 billion), up by […]
Empower braces for active participation in World Future Energy Summit in Abu Dhabi
Emirates Central Cooling Systems Corporation (EMPOWER), the world’s largest district cooling service provider, has announced its participation in the 10th World Future Energy Summit (WFES), which will be held as part of Abu Dhabi Sustainability Week 2017, under the theme of ‘Practical Steps Towards a Sustainable Future’ from January 16 to19 at the Abu Dhabi National Exhibition Centre The […]
Six technology trends that SMEs should watch out for in 2017
Sage, the market leader in Cloud accounting software, has predicted that chatbots, collective intelligence, and blockchain are some of the big technology trends that will change the way entrepreneurs run their businesses in 2017. Sage Chief Technology Officer, Klaus-Michael Vogelberg, said: “As every business – big or small – is transforming more or less intensively […]
Saudi Arabia Energy Minister, H.E. Khalid A. Al-Falih, to Lead Kingdom’s Largest Ever Delegation at World Future Energy Summit
Saudi Arabia’s Minister of Energy, Industry and Mineral Resources, H.E. Khalid A. Al-Falih, will lead the Kingdom’s biggest-ever presence at the 10th World Future Energy Summit (WFES) when the event gets under way next week. The official delegation forms part of Kingdom’s strong support for WFES as the country seeks to showcase the business opportunities […]
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Akbar Travel selects Sabre technology to support global expansion strategy
Akbar Travel has selected global technology company, Sabre Corporation (NASDAQ: SABR), to enhance its online customer experience offering, drive operational efficiencies and support its global growth, which will see the leading Middle East agency expand into new markets across GCC. Akbar Travel will also invest in new technology such as mobile, online, data and automation […]
ICLP and RSA Launch the UAE’s first insurance loyalty programme
With the aim of rewarding existing customers, driving acquisition through direct channels and identifying cross-sell opportunities, RSA (Royal & Sun Alliance) Insurance, one of the world’s leading insurers has partnered with ICLP, the global leaders in loyalty. ICLP was engaged to design, implement, manage and drive engagement in a new insurance loyalty programme – the […]
Virgin Mobile Saudi Arabia sheds light on Social Media habits of Women in Society
The results of a statistical study conducted by Virgin Mobile Saudi Arabia revealed that 20% of women in the Kingdom spend more than eight hours a day on social media, while the percentage of men in the same time frame amounted to 12%. The research conducted in collaboration with Virgin Mobile Saudi Arabia and the […]
CONSUMERS PRIORITISE HIGHER WI-FI PERFORMANCE OVER SPEED IN 2017
In 2017, consumers will increasingly prioritise higher performance over speed as a growing number of smart devices connect to Wi-Fi network in Middle East homes, predicts networking giant, Linksys. Data will be driven by people, but more so by the number of connected objects in the Internet of Things, estimated to be 50 billion by […]
Electronic Shelf Labelling Set to Take Over Regional Retail
Electronic Shelf Labels (ESLs) are entering the region with a big promise of saving on both operations and energy costs in the retail sector. A global forecast report by market research firm Knowledge Sourcing Intelligence, revealed that global market for Electronic Shelf Label Market will grow from US$211.134 million in 2015 to US$441.440 million by […]
‘Oil demand for petrochemicals is likely to grow by about 3% a year between 2015 and 2021, with petrochemicals taking a more significant proportion of the oil barrel’ says International Energy Agency (IEA)
ArabPlast 2017 kicked off today (Sunday, 8th January 2017) in Dubai International Convention and Exhibition Centre. HE Majid Saif Al Ghurair, Chairman of Dubai Chamber, inaugurated the show and many other government representatives, business executives, and industry experts. The No. 1 trade show in the Middle East in term of machinery on display and the […]
Thomson Reuters Hosts 11th MENA Regulatory Summit 2017
Thomson Reuters, the world’s leading source of news and information for professional markets and the Dubai Financial Services Authority (DFSA), will co-host the 11th MENA Regulatory Summit on February 5th & 6th in Dubai, United Arab Emirates. Held under the patronage of the UAE Minister of Economy, H.E Sultan bin Saeed Al Mansouri, the summit […]
Empower registers 255,000 client-servicing transactions in 2016
Emirates Central Cooling Systems Corporation (Empower), world’s largest district cooling services provider, said that it has registered 255,000 client-servicing transactions in 2016 ranging from face to face client servicing in the branches, telephone calls and e-mail correspondences. This represents a breakthrough in the use of modern methods and techniques in managing day to day queries […]
TechAccess Recognises Top Partners for 2016
TechAccess, the leading value added distributor in the Middle East, North Africa, LEVANT, Pakistan and Afghanistan has announced the winners of its Partner Loyalty Program for 2016. TechAccess’ Partner Loyalty Rewards programme recognises the outstanding achievements of partners drawn from the distributors network across the region. The winning Gold partners are: GCC – Fujitsu Levant […]
ATM hits the tech highway
According to a report, innovations in travel technology will continue to transform the tourism industry, with cloud passports, personalized travel, virtual reality, and apps predicted to re-shape consumer habits and marketing strategies over the short to mid-term by Colliers International. In its Tourism and Technology Trends report, produced ahead of Arabian Travel Market (ATM), 24 […]
The Levant’s Rising Digital Economy Creates New Opportunities for Tech Entrepreneurs
Startups in Jordan and the Palestinian Territories will be vital in driving the Levant’s Digital Economy and job creation for technology talents, SAP announced at the Start-up Focus Event in Amman, hosted by startup enabler and technology company SAP and supported by Zain Innovation Campus (ZINC) and USAID West Bank and Gaza through its Compete […]
Huawei Promotes Quality and Safety in the Kingdom
In line with the Saudi Vision 2030 goal to embrace responsible businesses, adapt a comprehensive list of standards and guidance, regulating an array of environmental and safety challenges, Huawei Tech Investment Saudi Arabia recently held an Environment, Health and Safety (EHS) workshop for its employees, partners and suppliers in the Kingdom as part of the […]