Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
UAE SMEs Unlock Islamic Economy Gains with Data Management
UAE small- and medium-sized enterprises (SMEs) are unlocking Islamic Economy gains by better managing their data, industry experts announced today. The UAE has been ranked as the top Islamic Economy country in Europe, the Middle East, and Africa, according to a recent report by Dinar Standard and Thomson Reuters. The Islamic Economy is set to […]
Residents in Saudi Arabia spend almost a quarter of their day on social media
Residents in Saudi Arabia spend approximately five hours a day using social media on average and 30% have six to 10 applications installed on their smartphone according to new research from YouGov. The findings, captured amongst over 4,000 residents in Saudi Arabia, revealed that the time spent on social media varies depending on age group. […]
SmartLife Selected as the First Major NGO Partner for Sage Foundation in the UAE/Middle East
Sage, the market leader for integrated accounting, payroll and payment systems, has selected the first recipient in the Middle East to partner with through Sage Foundation – a global initiative to transform lives by investing time, money, expertise and technology in local communities around the world. A collaboration with SmartLife, an NGO based in Dubai, […]
Veritas Crowns Condo Protego as MVP of Middle East IT Channel
Global IT company Veritas has crowned Condo Protego as the “Most Valuable Partner” in the Middle East and Africa at the recent Veritas Channel Awards. Condo Protego, which has the region’s highest market share of Veritas information management solutions, also won “Enterprise Partner of the Year – Gulf”. This was the first awards since Veritas […]
Teleopti celebrates 10 years in the Middle East
Teleopti is celebrating it’s tenth year anniversary operating in the MENA region. It was in 2006 that Teleopti management team understood the need to expand its business into this fast evolving region, and within a year a representative office was opened. The results quickly exceeded expectations. The company started with just a couple of employees […]
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Increased internet penetration in the Arab World leads to exponential growth in GCC online ad spending, says Orient Planet Research Report
Increased internet penetration in the Arab World has led to a jump in the GCC region’s online ad spending for this year with internet ads in the GCC set to grow 20 per cent in 2017, according to a market research report recently launched by Orient Planet Research, an Orient Planet Group venture. The report, […]
Canon demonstrates strength in print with 8 BLI award wins
Canon Middle East, world leader in imaging solutions, today announces that it has won the prestigious ‘A3 MFP Line of the Year’ award, along with seven other awards from testing and research organisation, Buyers Laboratory (BLI). Canon’s manufacturing quality and innovative product evolution, based on close collaboration with customers, saw BLI present Canon with the […]
Gartner Says Governments in Middle East and North Africa to Spend US $11.5 Billion on IT in 2016
Governments in the Middle East and North Africa will spend US $11.5 billion on IT products and services in 2016, according to Gartner, Inc. This forecast includes spending on internal services, software, IT services, data center systems, devices and telecom services. Government comprises state and local governments and national government. Telecom services, which include fixed […]
Supreme Committee for Consumer Protection mulls adoption of standardized guidance document for electronics
H.E. Eng. Sultan bin Saeed Al Mansouri, the Minister of Economy, headed the second meeting of the Supreme Committee for Consumer Protection for 2016 held at the Grand Hyatt Dubai Hotel. H.E. Eng attended the session. Mohammed Ahmed bin Abdul Aziz Al Shehhi, Undersecretary of the Ministry of Economy for Economic Affairs; H.E. Humaid bin Butti Al Muhairi, Assistant […]
Cisco Predicts Middle East & Africa to have Highest Growth in IP Traffic Worldwide
According to the 11th annual Cisco Visual Networking Index™ (VNI) Complete Forecast for 2015 to 2020, global IP traffic will nearly triple at a compound annual growth rate (CAGR) of 22 percent over the next five years. The Middle East and Africa (MEA) region will see a 6-fold growth in IP traffic, which is the […]
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Internet-of-Things spending for manufacture-related processes in MEA region forecasted to grow by 16 per cent in 2016
Internet-of-Things (IoT) spending for manufacture-related processes in the Middle East and African region (MEA) is poised to increase by 16 per cent Year-on-Year (YoY) starting 2016, running up to a total of over USD1.22 billion, according to a recent report from the International Data Corporation (IDC), a leading market, research, analysis and advisory firm. The […]
UAE an Oasis for Entrepreneurs Which Will Contribute to Increasing Global Digital GDP by USD 1.5 Trillion through 2020
UAE digital Startups can become the keystone in increasing global GDP by USD 1.5 trillion and creating 10 million youth jobs, industry experts announced this week at the recent SAP Startup Focus Event, held in the build-up to GITEX Technology Week 2016. By 2020, digital startups in general will help increase global GDP by USD […]
E-commerce in the Middle East to Experience a Significant Surge during Ramadan, says SOUQ.com
According to SOUQ.com, a combination of reduced work hours and a celebratory atmosphere means that time spent online as well as consumer spending is higher during Ramadan. To capitalize on consumers’ increased online consumption and gifting season in the Middle East, SOUQ.com is pleased to announce exclusive and irresistible deals to welcome Ramadan and celebrate […]
TechAccess Unveils Unify SME Initiative and Announces Partner Promotion
TechAccess, the leading value added distributor in the Middle East, North Africa, LEVANT, Pakistan and Afghanistan has just unveiled its Unify SME Initiative and new promotion to partners. An update session, which was held at the Sheraton Hotel in Dubai, introduced partners to the new initiative and shared details on rebates and promotions. Partners were […]
SEDCO Holding Group emphasizes risk management crucial for growth of family businesses
Corporate governance and risk management has steadily become the foundation for family businesses, as its application leads to untold success and competence. SEDCO Holding Group was one of the first family businesses to realize its importance, and was able to implement the role of corporate governance and risk management for the progress of all local […]
Autodesk and Trimble Sign Agreement to Increase Interoperability
Trimble (NASDAQ: TRMB) and Autodesk, Inc. (NASDAQ: ADSK) have entered into an interoperability agreement aimed at saving customers time and reducing project costs typically associated with workflow inefficiency across different suppliers’ technologies. This will benefit architects, engineers and contractors, and importantly, project owners by enabling more freedom to optimize technology workflows needed to meet the […]
Saudi International Petrochemical Company Collaborates with IBM for IT Services and Digital Transformation
IBM (NYSE: IBM) has signed a ten-year technology services and digital transformation agreement with Saudi International Petrochemical Company (Sipchem). Sipchem will leverage IBM’s cloud, mobile, analytics and security platforms and services to support its ambitious efficiency enhancement and growth strategy. The agreement equips Sipchem to drive greater efficiencies, improve service, deliver continuous innovation and significantly […]
Saudi Female Awarded SAR 68,260 by Women Empowerment Initiative ‘Creativity for a Cause’
A Saudi national and a faculty-member from Dar Al Hekma – a leading Saudi University – received the region-wide women’s empowerment Creativity for a Cause 2016 Award, led by Philadelphia from Mondelēz International. With a total of 3652 votes, the GCC winner title was awarded to Manar Alomayri for her idea and vision to create […]
Challenges and Solutions in Managing Family Owned Multi-Companies
Diversified family-owned companies face many challenges which threaten their transition in the future from one generation to another. Companies implement sound corporate governance policies, a system that governs the relationship between an organization’s key players and its diverse spectrum of operating companies, to minimize this risk. Corporate governance practices enable companies to achieve transparency, fairness […]
Saudi Arabia’s MATCO Joins Global Elite of EMC Platinum Business Partners
Maham Al-Khaleej Company (MATCO), the leading information technologies and solutions provider in the Middle East, today announced that the company has been awarded Platinum status in EMC’s Business Partner Program for the second year in a row. A homegrown company with strong roots in Saudi Arabia since its establishment in 1998, MATCO has worked to […]
Moody’s maintains stable outlook for Egyptian banks reflecting strong funding and profitability
Moody’s Investors Service has maintained its stable outlook on Egypt’s banking system, reflecting the rating agency’s expectation that the country’s banks will continue to benefit from a stable deposit base, high local currency liquidity and strong profitability over the next 12-18 months. Moody’s report, entitled “Banking System Outlook — Egypt: Stable outlook reflects strong funding […]
Empower launches its three-month summer campaign ‘Saving starts at 24°C ‘ to optimise district cooling consumption
Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, has launched its nationwide summer campaign. The three-month campaign aims to optimise district cooling energy consumption amongst Empower’s customer base of over 55,000 people. The campaign also aims to ensure the company’s customers’ happiness through providing world-class cooling services which adhere to […]