Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
ENGIE and Al Jouf Cement Partner on 22 MWp Solar Project to Advance Saudi Vision 2030 Goals
– ENGIE’s 22 MWp solar project with Al Jouf Cement to significantly reduce carbon emissions and enhance renewable energy use in Saudi Arabia’s industrial secto – The project is estimated to cut carbon emissions by 1,481,100 tons, supporting decarbonization in an energy-intensive industry ENGIE, a global leader in low-carbon energy and services, has signed a […]
Kyndryl and Microsoft Study: Only 21% of Organizations Globally Recognize Technology’s Role in Advancing Their Broader Sustainability Goals
Data and AI are becoming powerful catalysts for driving action and predicting future risks NEW YORK, November 19, 2024 – Kyndryl (NYSE: KD), the world’s largest IT infrastructure services provider, released the second Global Sustainability Barometer study, commissioned by Microsoft. The study, conducted by Ecosystm, shows that while 84% of organizations place a high strategic importance on achieving sustainability goals, only 21% use technology to reduce their […]
Himel Aims to Power Ambitions in Saudi Arabia: Accelerating Electrical Infrastructure Development
19 November 2024, Kingdom of Saudi Arabia: Himel, a multinational leader in electrical products, is making significant strides in the Kingdom of Saudi Arabia (KSA) as it expands its presence across the Middle East. With 15 years of international operations, Himel has established itself as a frontrunner in delivering value-engineered solutions for residential, commercial, and industrial […]
Jadwa Announces First Regional Blind-Pool Private Equity Fund
Riyadh, Saudi Arabia, 19 November 2024: Jadwa Investment, a leading investment management and advisory firm in the Middle East, announced today the first close for its first regional blind-pool private equity fund, GCC Private Equity Fund 1, with total capital commitments of SAR 1.0 billion. The fund is among the largest blind-pool private equity funds […]
Government action is vital to unlock private sector investment at scale, say business leaders in global Business Breakthrough Barometer
Business leaders have warned that without bold government policy, the next wave of large-scale investments in the net zero transition are at risk. An overwhelming 91% of executives see the transition as an investment opportunity, based on responses from 250 executives of leading businesses worldwide, with a combined market capitalisation of more than $2 trillion. However, only 1% of […]
GoDaddy Shares Expert Tips to Help Boost White Friday Promotions in Saudi Arabia
Riyadh – As White Friday approaches, GoDaddy, a trusted partner for small businesses and start-ups in the Kingdom, is unveiling tips to help businesses optimize their promotion strategies and strengthen customer relationships during this key shopping event. “White Friday is a pivotal moment for businesses in the Kingdom, providing the opportunity to connect with customers and […]
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Strategic Partnership: Tarabut & Geidea Sign MOU to Explore Game-Changing SME Financing Solutions in Saudi Arabia
Riyadh, Kingdom of Saudi Arabia – 19 November 2024: Tarabut, the MENA region’s leading, regulated open banking platform, and Geidea, Saudi Arabia’s leading payments solutions provider, have entered a strategic partnership to explore and potentially develop tailored SME financing solutions, subject to regulatory approvals. Today, SMEs represent 1.3 million businesses in Saudi Arabia, and they face […]
“Abraj Omar”: An Elegant Haven Blending Sophistication and Spirituality in the Heart of Makkah
Alesayi Holding Unveils “Abraj Omar Hotel & Residences by MGallery” at Cityscape 2024 Riyadh, Saudi Arabia – Date 14 Nov 2024: At Cityscape 2024, Alesayi Holding; represented by its real estate sector; proudly announces the launch of its luxurious project, “Abraj Omar Hotel & Residences by MGallery,” a development redefining upscale hospitality just steps from the Holy […]
Lenovo Reports 48% Profit Surge as Hybrid AI Strategy Drives Global Growth in Q2 2024/25
Global technology leader Lenovo Group reports exceptional Q2 financial results with a 48% increase in net income and 24% revenue growth, powered by strategic investments in hybrid AI technology and sustained R&D commitment.
Gulf Mercantile Exchange and Fastmarkets forge strategic partnership to innovate commodity risk management tools in the region
Dubai, 18 November 2024: Fastmarkets, a leading cross-commodity price-reporting agency, is excited to announce their strategic partnership with Gulf Mercantile Exchange (GME). Fastmarkets and GME have agreed a Memorandum of Understanding (MOU) to explore a strategic partnership aimed at enhancing risk management tools for the regional commodities market. This collaboration will focus on critical commodities and […]
MultiBank Group Honored to Receive the Best Global Financial Institution Award at Money Expo Qatar 2024
Dubai, UAE, 18 November 2024 – MultiBank Group, the world’s largest and most regulated financial derivatives institution, headquartered in Dubai, is proud to announce its recognition as the ‘Best Global Financial Institution’ at Money Expo Qatar 2024. This prestigious award, presented at one of the Middle East’s premier financial events, highlights MultiBank Group’s commitment to delivering industry-leading […]
Retail Congress MENA 2024 Ignites a New Era in Riyadh, Celebrating Excellence and Vision Across the Retail Landscape
The Middle East Council of Shopping Centres & Retailers (MECS+R) proudly hosted its first-ever Retail Congress MENA in Riyadh, Saudi Arabia, on November 4-5, making a resounding impact on the MENA retail landscape. Bringing together industry giants, thought leaders, and key stakeholders, the congress unfolded in the prestigious Mandarin Oriental Al Faisaliah Hotel, under the inspiring theme “GENESIS […]
New Murabba Showcased the Future of Urban Development at Cityscape Global 2024
Riyadh, 16 November 2024: New Murabba, a PIF company, highlighted its transformative vision for urban living at Cityscape Global 2024, one of the world’s largest real estate and urban development exhibitions, where it was the Foundation Sponsor. Inaugurated by the Ministry of Municipalities, the event was held from November 11 to 14 under the theme “The […]
PIF announces sale of 100 million shares in stc
PIF today announced the completion of the sale of part of its stake in the Saudi Telecom Company (stc) through an accelerated bookbuild offering. The offering comprised 100 million shares, representing 2% of stc’s issued share capital. The total value of the offering was SAR 3.86 billion ($1.03 billion), with a final offer price of […]
Rheem Middle East’s Sustainable Approach Achieves Recognition at First Edition of Climate Control Saudi Awards
Riyadh, Saudi Arabia, 14th November 2024: Rheem Middle East, a sustainable industry leader in heating, ventilation, air conditioning (HVAC), and water heating solutions, with nearly a century of expertise globally, and known for bringing the most innovative technology to the Kingdom, has garnered significant attention at the Climate Control Saudi Awards 2024 – the inaugural […]
Pemo Hits AED 1.4BN in Transactions, Secures $7M in Pre-Series A Led by Augmentum Fintech and Shorooq
Leading UAE fintech, Pemo secures $7 million USD in funding as international investors back its potential to revolutionise the spend management sector in the region Dubai, United Arab Emirates: 13th November 2024: Pemo has announced a $7 million Pre-Series A Funding round as it seeks to continue its unprecedented growth in the region. Following two years of […]
Thakher Development and Mulkia Investment Establish a Real Estate Fund Worth Nearly One Billion SAR in Mecca
During Cityscape Global Event Riyadh, Saudi Arabia, November 13, 2024 – Thakher Development, the principal developer responsible for the master plan and infrastructure of the Thakher Mecca project, in collaboration with Mulkia Investment and under the auspices of the Ministry of Municipal and Rural Affairs and Housing, announced the establishment of a real estate fund valued […]
TDF CEO Joins World Travel & Tourism Council Executive Committee
Riyadh – November 13, 2024: In a landmark achievement for Saudi Arabia’s tourism sector, Tourism Development Fund (TDF) CEO Qusai Al-Fakhri has been appointed to the Executive Committee of the World Travel & Tourism Council (WTTC). This appointment highlights TDF’s growing international influence and its vital role in transforming Saudi Arabia into a leading global […]
PayerMax Named “Best Payments Solutions Provider”, Strengthens Middle East Presence
PayerMax, a leading global provider of payment solutions, was named Best Payments Solutions Provider of 2024 by MEA Finance magazine at an award ceremony held on November 12 in Dubai. The award is a testament to PayerMax’s success in providing exceptional financial technology services to clients in the Middle East and Africa and its leadership […]
ALIPH CAPITAL APPOINTS PRIVATE CAPITAL VETERAN AS MANAGING DIRECTOR
Gaurav Wadhwa joins Aliph’s expanding team of GCC mid-market specialists Abu Dhabi, UAE – 13 November 2024: Aliph Capital (“Aliph” or “the Company”), a leading GCC mid-market alternative investment manager, announces Gaurav Wadhwa has joined the firm as Managing Director. Gaurav joins Aliph’s growing team of experienced private equity leaders, led by Founder and CEO Huda […]
Mastercard and Saudia Announce Winners of the ‘Her Voice’ S3 Podcasts Mentorship Program in Collaboration with Blossom Accelerator
Riyadh, Saudi Arabia, 11, November 2024 – As part of an ongoing commitment to advancing female entrepreneurship and enabling Saudi women to fulfil their potential, Mastercard partnered with Saudia and Blossom Accelerator — for the third season of Mastercard’s ‘Her Voice’— to empower female entrepreneurs to attain lasting success. The entities hosted three workshops across Jeddah, Riyadh, and Khobar, […]
Alraedah Finance Announces Strategic Partnership with Methods Coffee Shop
Riyadh, Saudi Arabia – 12 November 2024: Award winning SME financier Alraedah announced a new partnership with Methods Coffee Shop, a Saudi specialty coffee brand seeking franchise financing, demonstrating the company’s commitment towards supporting the growth of the F&B industry in Saudi Arabia. The strategic partnership was broadcast during the third day of the Biban event, […]