Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
Cisco Identifies Technology Trends that will Define 2025
2025 marks a pivotal moment where AI, cybersecurity, data governance, and sustainability converging to redefine the business environment Riyadh, Saudi Arabia, 7 January 2025 – Cisco revealed key technology trends for 2025, emphasizing a landscape shaped by shifting consumer behaviour, an expanding digital ecosystem, and the need to integrate AI. Reflecting these dynamics, the Middle East […]
Lucid Joins ‘Made in Saudi’ Program, Showcasing Commitment to Local Excellence
The first automotive OEM to receive the prestigious “Saudi Made” mark, Lucid reinforces its commitment to powering the Kingdom’s growing automotive, technology, and sustainability sectors Riyadh, Saudi Arabia – January 7, 2025—Lucid Group, Inc. (NASDAQ: LCID), maker of the world’s most advanced electric vehicles (EV), announced today its membership in the ‘Made in Saudi’ program. […]
CHECKOUT.COM AND NOQODI COLLABORATE TO REVOLUTIONIZE PAYMENT SERVICES IN THE UAE
DUBAI, UAE — January 7, 2025 — Global payment solutions provider Checkout.com, has entered a strategic partnership withnoqodi, a payment gateway and financial service provider, to elevate the payment experience for businesses and consumers in the UAE. As part of the collaboration, Checkout.com will integrate its cutting-edge payment technology with noqodi’s robust digital platform, offering seamless and secure payment […]
PIF completes $7 billion inaugural murabaha credit facility
PIF today announced its first murabaha credit facility for the sum of $7 billion, as part of its medium-term capital raising strategy. The financing structure is supported by a diverse syndicate of 20 international and regional financial institutions. Fahad AlSaif, PIF’s Head of the Global Capital Finance Division and Head of Investment Strategy and Economic […]
Elm enhances brand identity by introducing ‘Human, Ambition and Technology’ elements
The move comes as part of the company’s efforts to position itself as a leader in the digital landscape, further establishing KSA’s presence in the global digital economies 5 January 2025- Elm, a pioneer in digital solutions, enhanced its brand identity, reflecting the company’s ambitious and prominent objective. Leveraging comprehensive knowledge, a forward-thinking mindset, and a […]
Sahm App Acquires Over One Million Users in Just One Year, Elevating the Trading Experience Through Innovation
Riyadh, Saudi Arabia – [December 31st] – Sahm App, Saudi Arabia’s premier all-in-one online trading platform, proudly announces that it has acquired over one million users in just one year, marking a pivotal achievement in its rapid growth and transformation of the local investment landscape. Hadeel Bedeeri, General Manager of Sahm Capital, stated, “Reaching this milestone in […]
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Beltone Expands into Africa: A Strategic Move for Regional Growth
Beltone Holding, a prominent financial services group, is strategically expanding its reach into African markets by acquiring a majority stake in Baobab, a leading financial services provider. This move signifies Beltone’s ambition to drive innovation and expand its footprint in emerging economies, leveraging data and AI to ensure sustainable growth.
‘Discover Beyond Hail’ Tour Wraps Up Under Governor’s Patronage
Hail, Saudi Arabia – December 26, 2024: Under the patronage and presence of His Royal Highness Prince Abdulaziz bin Saad bin Abdulaziz Al Saud, Governor of Hail Region, the Tourism Development Fund (TDF) successfully concluded its “Discover Beyond Hail” tour and accompanying exhibition that hosted more than 600 participants. This initiative is part of a […]
Saudi Arabia’s construction market to surge to exceed USD 90 billion by 2029 fuelled by strategic investments: JLL
Driven by the government’s drive to diverse the economy, growing interest from regional and international private sector participants and streamlining of regulations, Saudi Arabia’s construction sector is poised for strong and resilient growth, underpinned by strategic risk management and investment in local manufacturing Riyadh, Kingdom of Saudi Arabia; 25 December 2024: Fuelled by Vision 2030 and substantial […]
Transforming GCC Airport Retail: Abra’s Role in a Thriving Sector
• UAE airport retail sales expected to reach $161.6 billion by 2028• KSA airport retail sales expected to reach $139.1 billion by 2028• GCC airport market projected to grow at 9.5% CAGR during 2024 to 2032 Dubai, UAE – 19th December 2024: Abra, a leader in luxury retail fit-outs in the UAE and the MENA […]
Future Cities Awards 2025: Recognizing Excellence in Urban Innovation and Sustainability
Abu Dhabi, UAE, 24 December 2024: The Future Cities Awards 2025, organized as part of the Annual Investment Meeting (AIM) Congress, has officially opened nominations for this year’s prestigious awards. The event, set to take place on April 8, 2025, in Abu Dhabi, aims to highlight the most outstanding achievements in urban development, sustainability, and innovation. […]
Ali Mokhtar Recognized as One of Forbes Middle East’s Top Venture Capitalists of 2024
Ali Mokhtar, CEO and Managing Partner of Beltone Venture Capital has been honored as one of Forbes Middle East’s Top Venture Capitalists for 2024. This prestigious recognition celebrates his significant contributions to the MENA startup ecosystem and his transformative leadership in the region. Since Beltone Venture Capital’s inception in April 2023 as a subsidiary of […]
The official importers of Porsche cars in Saudi Arabia, SAMACO Motors, sponsored the second edition of the Forbes Women Middle East Summit.
Porsche Saudi Arabia, through SAMACO Motors, supported the second Forbes Women Middle East Summit, which was held in Riyadh on December 18-19, 2024, with a fleet of 20 chauffeured cars for VIPs and delegates. They also showcased the all-new, fully electric Macan SUV. Following the success of the inaugural Forbes Women Middle East Summit, which […]
IPS Congress 2025: A Pivotal Turning Point for Investors, High-Net-Worth Individuals, and Family Offices
• The real estate market in the UAE is witnessing a surge in demand for luxury properties, driven by the increasing number of high-net-worth individuals seeking investment opportunities. Dubai, UAE – 23 December 2024: The real estate market in the UAE is experiencing a significant increase in the number of luxury residential units with global brands, which coincides […]
Saudi Arabia’s economic landscape shifts with strong demand in tourism fuelling real estate in Q3 2024: JLL
Riyadh, Saudi Arabia; 22 December 2024—The rapid urban and infrastructure development in the Kingdom is creating new hotspots for development, driven by a surge in tourism and ongoing economic diversification initiatives, according to JLL’s latest KSA Market Dynamics Report. Long-term prospects remain favorable, supported by Vision 2030’s economic diversification efforts focused on continued development and government […]
HRH Prince Abdulaziz bin Salman Al-Saud, Minister of Energy, inaugurates three renewable energy projects in Uzbekistan
Riyadh, Saudi Arabia – 19 December 2024: His Excellency President Shavkat Mirziyoyev, President of the Republic of Uzbekistan, joined virtually by His Royal Highness, Prince Abdulaziz bin Salman bin Abdulaziz; Minister of Energy, inaugurated three renewable energy projects in Uzbekistan, to be operated by ACWA Power. On this occasion, His Royal Highness Prince Abdulaziz bin Salman […]
ACWA Power Launches Two Environmental and Community Initiatives at COP16
• The Saudi-listed company announces support for the Global Coral R&D Accelerator Platform Foundation (CORDAP)• Company to provide water access for more than 1,500 households in Wadi Hajar, Makkah region through Sekaya Charitable Foundation Riyadh, Kingdom of Saudi Arabia; 18 December 2024: ACWA Power, the world’s largest private water desalination company, leader in energy transition, and first mover […]
Saudi Arabia Payments Revenue Projected to Reach $21.7 Billion by 2028, Reflecting Strong Market Expansion
Riyadh, December 17, 2024 – Saudi Arabia’s payments industry is set for substantial growth, with total revenues projected to reach $21.7 billion by 2028, according to the latest Global Payments Report 2024 from Boston Consulting Group (BCG). Amid a global slowdown, Saudi Arabia’s strategic focus on digital innovation and infrastructure development positions it as a key player within […]
Mastercard Economics Institute’s Economic Outlook 2025 for Saudi Arabia: Steering through change
Riyadh, Saudi Arabia; 17 December 2024: The Mastercard Economics Institute released ‘Economic Outlook 2025’, its annual report identifying the themes that will shape next year’s economic landscape. The global economy has managed through a series of shocks admirably over the past few years. The report anticipates 2025 to be defined by shifts in monetary and fiscal policy and […]
GMG marks landmark year of growth and innovation in Saudi Arabia, aims to double workforce in Saudi Arabia
Riyadh, Saudi Arabia, December 16, 2024: GMG, a global retail conglomerate, today announced significant achievements in its Saudi Arabian operations throughout 2024, marking another year of strategic expansion and digital transformation in the Kingdom. The company’s growth strategy aligns with emerging consumer trends showing increased demand for premium retail experiences and digital engagement. Following the successful […]
ZATCA Launches Self-Service for Personal Vehicle Imports
The Zakat, Tax and Customs Authority (ZATCA) has introduced a self-service option for individuals who import personal vehicles through its land and sea customs ports. This new feature allows users to submit the necessary documents and complete the import process directly on the ZATCA website. To begin the process, individuals must register on the ZATCA […]
Aqualia Showcases Breakthrough Innovations at the IDRA 2024 World Congress
Aqualia highlights transformative solutions for water scarcity through advanced desalination and reuse technologies at the International Desalination and Reuse Association (IDRA) World Congress in Abu Dhabi. Abu Dabi, 15 December 2024 Aqualia, a global leader in water cycle management, took center stage at the IDRA (International Desalination and Reuse Association) World Congress in Abu Dhabi […]