Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
ALEC Achieves 29% YoY Growth Driven by Ongoing Saudi Expansion and Subsidiaries’ Strong Performance
Construction firm’s growth in Saudi signals impressive early success of ongoing expansion in the Kingdom Dubai, United Arab Emirates – 11 March 2025 – With a healthy pipeline of projects in progress, ALEC Engineering and Contracting LLC (ALEC) has continued its strong business momentum. During 2024, the company — one of the largest construction firms in […]
AIM Congress 2025 to Host Roundtables Addressing Key Global Investment Trends and challenges
Abu Dhabi, UAE, 12 March 2025: The 14th edition of AIM Congress, set to take place from April 7 to 9, 2025, at the Abu Dhabi National Exhibition Centre, will feature high-level roundtable discussions tackling the most pressing global investment challenges. AIM Congress 2025 held under the theme “Mapping the Future of Global Investment: The […]
Menakart Partners with Tabby and Tamara to Enhance Customer Payment Options
Dubai, UAE, 19 February 2025: Menakart.com, UAE’s leading online shopping platform, has teamed up with Tabby and Tamara to offer flexible “Buy Now, Pay Later” (BNPL) payment options to customers. This collaboration allows Menakart shoppers to split their purchases into 4 easy, interest-free monthly payments via Tabby or Tamara. As pioneers in the BNPL space, Tabby […]
Saudi Arabia is Poised to Become a Key Player in the Global Entertainment Parks Industry BCG Report Reveals
Riyadh, 26 February 2025 – Saudi Arabia’s entertainment parks sector is experiencing rapid growth, fueled by strategic national objectives to diversify the economy and position the Kingdom as a leading entertainment destination. A recent report by Boston Consulting Group (BCG), titled Entertainment Parks Industry: Trends & Opportunities for Saudi Arabia, highlights the high level of interest in theme and water […]
Fortinet Reports Fourth Quarter and Full Year 2024 Financial Results
Fortinet® (Nasdaq: FTNT), a global cybersecurity leader driving the convergence of networking and security, today announced financial results for the fourth quarter of 2024 and full year ended December 31, 2024. “In the fourth quarter, we successfully balanced growth and profitability as our non-GAAP operating margin increased 720 basis points year-over-year to a company record of 39%, while […]
GAL, AMMROC AND PANNESMA COMPANY LIMITED SIGN STRATEGIC AGREEMENT TO STRENGTHEN DEFENSE INDUSTRY COLLABORATION BETWEEN KSA AND UAE
Abu Dhabi, UAE – February 21, 2025: Global Aerospace Logistics (GAL) and Advanced Military Maintenance, Repair, and Overhaul Center (AMMROC) have announced a landmark contract agreement with Pannesma Company Limited, a distinguished subsidiary of Atheeb Holding Group during IDEX 2025. The agreement is set to strengthen collaboration in advanced aircraft maintenance, upgrades, and overhaul services bolstering […]
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Saudi Arabia Ranks Third Globally in 5G Speed, Averaging 243.7 Mbps
Jeddah: Saudi Arabia continues to impress in the global mobile network landscape, with new insights from Opensignal’s Global Network Excellence Index. The report, which evaluates the mobile experience across countries with large land areas (over 200,000 square km), places Saudi Arabia 20th globally in overall network performance. Notably, Saudi Arabia secured third place worldwide in 5G […]
Bank of Singapore Unveils “2025 Supertrends” Highlighting Key Aspects Influencing Global Investment Outlook
Dubai, 20 February 2025: Bank of Singapore successfully concluded the CIO Summit, held in Dubai, where its leadership and expert panelists explored key investment themes, their implications on global investment, and strategies for success. During the summit, the Bank unveiled its highly anticipated “2025 Supertrends Report,” a refreshed outlook building upon the insights of the 2024 edition. This […]
Saudi Real Estate Refinance Company (SRC) Completes Pricing of its First USD 2 Billion International Sukuk Offering
Sukuk Programme lists on the International Securities Market (ISM) of the London Stock Exchange (LSE), integrating the Saudi economy with global markets London, 21 February 2025: The Saudi Real Estate Refinance Company (SRC), a PIF Company, has completed the pricing of its first government-guaranteed international Sukuk, valued at USD 2 billion. The issuance, structured in two […]
Alinma Bank launches new platform powered by IBM Hybrid Cloud & AI technology to fuel innovation for Digital Banking
The new platform stimulates innovation in Saudi Arabia’s fintech ecosystem and unlocks new possibilities for businesses Riyadh, Saudi Arabia, 19 February 2025: IBM and Alinma Bank announce that Alinma Bank, a leading financial institution in Saudi Arabia, has adopted IBM’s advanced hybrid cloud and AI integration technologies. This move aims to enhance Alinma Bank’s IT infrastructure […]
KoçSistem Participates in LEAP Expo as a Leading Tech Brand from Türkiye
KoçSistem, Türkiye’s leading technology brand, participated in LEAP 2025, one of the most prestigious global technology expos. The event brought together companies operating in the Middle East’s technology sector. Riyadh — Attending the event alongside KoçDigital, its subsidiary specializing in data science, artificial intelligence, and analytics, KoçSistem showcased its cutting-edge domestic technologies, ranging from digital publishing to cybersecurity. […]
Databricks to invest up to $300 million in the Kingdom of Saudi Arabia over the next five years
Data intelligence pioneer announces investment in KSA and commitment to data engineering and data and AI upskilling programs at LEAP 2025 Riyadh, Kingdom of Saudi Arabia – February 17, 2025 – At LEAP 2025, Databricks, the data and AI company, announced its plans to invest up to USD 300 million in the Kingdom of Saudi Arabia (KSA) over the next […]
Qme Closes $3 Million Seed Round Led by AHOY to Advance AI-Driven Customer Journeys in MENA
– Qme is an AI-based digital infrastructure platform integrating booking, queuing, analytics, and payment solutions – Cairo, Egypt, 17 February 2025, Massive Media: Qme, an emerging B2B SaaS startup based in Egypt, has raised $3 million in a seed funding round led by AHOY, a multisector technology company, along with a group of angel investors from the GCC. […]
PIF launches third edition of Private Sector Forum; 100 portfolio companies showcased
PIF today launched its third Private Sector Forum, along with an accompanying exhibition, at Riyadh’s King Abdulaziz International Conference Center. The forum, which takes place on February 12-13, is the largest platform of its kind in Saudi Arabia and is dedicated to enhancing partnerships and creating opportunities for the local private sector. The event is […]
Why Daily Food Company Relies on Huawei Cloud for Scalable, Secure, and Localized Cloud Infrastructure
Daily Food’s partnership with Huawei Cloud has driven significant advancements in digital transformation, enhancing operational efficiency and customer experience in Saudi Arabia through localized, scalable cloud solutions.
STC Bank Partners with PLDT Global to Expand Digital Payment Solutions and Enhance Customer Experience
Riyadh, Saudi Arabia; 12th February 2025: STC Bank, a leading Saudi digital bank, has entered into a strategic partnership with PLDT Global Corporation (PLDT Global), the international arm of PLDT Inc., to enhance digital financial solutions and payment accessibility for its customers in Saudi Arabia. As part of the strategic partnership, STC Bank will be […]
Redington Unveils SAR 2 Billion Spending Plan for the Kingdom at LEAP 2025
Redington is Synergizing the Tech Ecosystem and Empowering Saudi Businesses to Drive Innovation and Digital Transformation across the Kingdom Riyadh, Saudi Arabia, 10th February 2025 – Redington, a leading technology aggregator and innovation powerhouse across emerging markets, boldly appears at LEAP 2025, Saudi Arabia’s premier tech event. With the theme of Synergizing the Tech Ecosystem, Redington is positioning itself […]
Dell Technologies Opens State-of-the-Art Merge and Fulfilment Center in Dammam, Saudi Arabia
Dammam, KSA – 09 February 2025 Dell Technologies (NYSE: DELL) today announced the opening of its first merge and fulfillment center in Saudi Arabia. Located in Dammam, the hub is engineered to handle up to 600,000 units per year, across all Dell’s product lines as customer demand grows. The Dammam center also features a second touch […]
stc Group Launches upsource at LEAP 2025: Empowering Businesses with Advanced Outsourcing Solutions
Riyadh, Saudi Arabia, 9 February 2025: stc Group, a leading digital enabler, proudly unveils upsource by solutions, its newly rebranded business process outsourcing (BPO) subsidiary. Building upon the success of stc’s leading customer experience solutions provider, Contact Center Company (CCC), this transformation marks a bold new chapter in delivering unparalleled customer experience solutions. By streamlining essential operations, upsource […]
stc Group Advances Global Digital Transformation across industries as a Strategic Partner at LEAP 2025
Riyadh, Saudi Arabia, 06 January 2025: stc Group, a leading digital enabler, will be showcasing its innovative digital solutions as a strategic partner of LEAP 2025, the world’s most attended tech event. Taking place between 9-12 February at the Riyadh Exhibition and Convention Center, attendees can witness how stc Group is powering Saudi Arabia’s key […]
Kyndryl to Fast-Track LEAP 2025 Visitors in Reimagining Their Digital Transformation
Kyndryl, the world’s largest IT infrastructure services provider, today announced its participation at LEAP 2025, taking place from 9 to 12 February at the Riyadh Exhibition and Convention Center, Malham, Saudi Arabia. Visitors to Kyndryl’s booth [G80 – Hall 3] will have the opportunity to engage with technical experts and consultants, who will showcase services […]
Loyalinks: Banking and Fintech Experts Gather to Discuss Innovation in Loyalty Programs
With the presence of elite experts from the banking and fintech sectors, Loyalinks organized its second event on innovation in loyalty solutions for banking and fintech on Wednesday, February 5, 2025, at Voco Hotel in Riyadh. The event aimed to highlight the challenges and opportunities in developing loyalty and rewards programs, offering a renewed vision […]