Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
GITEX GLOBAL concludes, reinforcing its status as the world’s largest and most dominant technology event
Dubai, UAE, 19 October 2024: GITEX GLOBAL 2024 concluded on Friday, underscoring AI’s pivotal role as a transformative tool that will continue to reshape industries and drive business and economic growth globally. For the final time this week, 6,500 exhibitors, 1,800 startups, and 1,200 investors, along with governments from more than 180 countries—marking the highest-ever international […]
STC Bank and Salla Announce Strategic Partnership to Enable Digital Payments for 80,000+ Online Merchants
Riyadh, Saudi Arabia; 17th October 2024: STC Bank, the first licensed digital bank in the Kingdom, has announced a new partnership with Salla, one of the leading e-commerce platforms in Saudi Arabia. This strategic partnership will enable it to be used as a payment method across more than 80,000 online stores powered by Salla, enhancing […]
Acronis Reports 68% Revenue Surge Amid Soaring Cyber Threats in the UAE
Dubai, United Arab Emirates, 17 October 2024: The cybersecurity landscape in the UAE is facing unprecedented challenges, with malware detections soaring by 65.3% and URL-based threats increasing by 36.9% in 2024, according to Acronis Threat Research Unit data. Despite a slight decrease in ransomware detections, the potential risks remain high, suggesting many organizations could still be vulnerable. […]
Americana Restaurants Accelerates Business Growth with Oracle Fusion Cloud Applications Suite
One of the largest fast-food operators in the Middle East and North Africa consolidates finance, HR, and supply chain processes in the cloud. DUBAI, United Arab Emirates—October 17, 2024—Oracle today announced that Americana Restaurants, one of the largest out-of-home dining and quick service restaurant operators in the Middle East, North Africa, and Kazakhstan, has successfully deployed Oracle […]
Social Development Bank Launches the “Jada 30” Program and the “Camel Hackathon” in Hail
Hail, October 15, 2024 His Royal Highness Prince Abdulaziz bin Saad bin Abdulaziz Al Saud, Governor of Hail, inaugurated the “Jada 30” branch, one of the Social Development Banks’s (SDB) non-financial services initiatives aimed at enhancing comprehensive and balanced development in the Hail region. The event was attended by His Royal Highness Prince Faisal bin […]
PwC Middle East navigates the evolving Zakat, Tax and Legal landscape across the Kingdom at annual seminars
Riyadh, Saudi Arabia—16 October 2024: PwC Middle East recently hosted its annual Zakat, Tax, and Legal seminars in Riyadh, Khobar, and Jeddah. Over 450 attendees, including global and regional business leaders from across the Kingdom, attended the seminars, which offered a platform for in-depth discussions on the latest economic and regulatory developments. The seminars addressed […]
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New Murabba Reaches New Heights: Over 10 million Cubic Meters Excavated with 3 million Safe Work Hours
Riyadh, Saudi Arabia, 15 October 2024: New Murabba Development Company, a PIF Company, today announced major progress in the creation of this groundbreaking urban destination. Excavation at the iconic Mukaab and surrounding podium sites has reached 86% completion, with over 10 million cubic meters of earth moved. This achievement underscores the rapid pace of development and […]
InfraX to provide advanced managed services solutions to Dubai Media
Dubai, UAE, 15 October 2024: InfraX, a subsidiary of Digital DEWA, the digital arm of Dubai Electricity and Water Authority (PJSC), has signed a Memorandum of Understanding (MoU) with Dubai Media, which includes a number of print, broadcast and television media channels. The MoU was signed by Eng. Marwan Bin Haidar, Vice Chairman and Group […]
Knight Frank and Al Kathiri Holding Announce Strategic Partnership for Hospitality Investment in Saudi Arabia
Dubai 15th October 2024: Knight Frank, leading global real estate consultancy, is proud to announce its strategic partnership with Al Kathiri Holding, a prominent investment group dedicated to investing in hospitality sector in Saudi Arabia across key markets over the next ten years. This partnership represents a significant step in contributing to the Kingdom’s Vision 2030 objectives […]
MOUAWAD RESIDENCES IN HIGH DEMAND AS SAUDI’S APPETITE FOR ULTRA-LUXURY GROWS
Limited Availability Remains in the Exclusive Riyadh Development Riyadh, Saudi Arabia, 14 October 2024 – Following the recent unveiling of Mouawad Residences, a landmark SAR 880 million (GBP 180 million) development in Riyadh, Dar Global, the London-Stock Exchange-listed international real estate company, is experiencing exceptional demand. The project, a collaboration with luxury jeweler Mouawad, marks the first […]
ALEC Launches ‘AHLAN’ Program to Enhance Participation of Saudi Nationals in Construction Sector
Through focused business and technical trainings, workshops and mentorship sessions, the month-long onboarding program will rapidly ramp up the professional skills of Saudi nationals joining the company Riyadh, Saudi Arabia – October 09, 2024 – The construction sector in Saudi Arabia is booming with analysts projecting that the industry will grow at an Average Annual Growth Rate […]
Rawabi Holding Company Expands Strategic Partnership with World Wide Generation into JV
Al Khobar, Saudi Arabia; October 8, 2024: Rawabi Holding Company (“Rawabi” or the “Company”) has announced the signing of a Joint Venture (JV) in the Kingdom of Saudi Arabia with sustainability fintech leader World Wide Generation (WWG), in addition to Rawabi’s investment of multimillion GBP in WWG to become one of its shareholders. The JV builds on […]
Google Cloud Hosts Inaugural Cloud Day in Kuwait, Marking Major Milestone in Digital Transformation Journey
His Excellency Omar Saud Al-Omar, Minister of State for Communication Affairs, opens the flagship event with keynote address; highlights role of technology in achieving Kuwait National Vision 2035 Kuwait City, Kuwait – October 8, 2024 – Google Cloud marked a significant milestone in its commitment to Kuwait today with the inaugural Cloud Day event. Showcasing the […]
GoDaddy launches WordPress Hosting powered by Artificial Intelligence for Saudi entrepreneurs
WordPress Hosting powered by AI with GoDaddy makes it easier to build a website with WordPress Al Riyadh 8 October – GoDaddy introduced its latest innovations to its WordPress Hosting product focused on integrating artificial intelligence (AI) to help designers and developers save time on a variety of tasks. GoDaddy has made it easier for customers […]
Saudi-based Alinma Bank and Dell Technologies Collaborate to Enhance Financial Services Innovation through Data Center Transformation
Riyadh, KSA – 07 October 2024 Dell Technologies and Alinma Bank today signed a Memorandum of Understanding (MoU) to accelerate the Saudi-based bank’s digital transformation initiatives. The MoU signed during the 24 Fintech Summit in Riyadh by Mohammed Talaat, VP, KSA & Egypt at Dell Technologies and Yaser Alofi, Chief Information Officer (CIO) at Alinma […]
New Murabba participates in Step Ahead Career Fair
Riyadh, Saudi Arabia, October 7, 2024: New Murabba Development Company participated in the 10thedition of the Step Ahead Career Fair in Riyadh as part of its aim to attract the very best talent of the future from the Kingdom of Saudi Arabia. The exhibition is a large gathering of more than 873 local and international employers […]
ADQ Appoints Modon as Master Developer for Ras El Hekma Megaproject in Egypt
In the presence of Mohamed bin Zayed Al Nahyan and Abdel Fattah El-Sisi Saudi Arabia, 05 October 2024: In the presence of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, and His Excellency Abdel Fattah El-Sisi, President of the Arab Republic of Egypt, ADQ, an Abu Dhabi-based investment and holding company, appointed Modon Holding PSC as […]
The Ministry of Human Resources and Social Development and the Insurance Authority Introduces Insurance Service for Expatriate Workers in Private Sector Establishments
The Ministry of Human Resources and Social Development (MHRSD) and the Saudi Arabian Insurance Authority havelaunched a new insurance service designed to protect the rights of expatriate workers in private sector establishments. The Expatriate Worker Wage Insurance Service for Private Sector Defaults becomes active as of the 6th of October 2024, which will ensure that expatriate workers receive […]
Industry Leaders Join Forces to Accelerate Renewables Infrastructure Deployment Worldwide
Geneva, Switzerland, 3 October 2024 – The World Economic Forum, in partnership with leaders from the renewable energy infrastructure sector, launched today the Responsible Renewables Infrastructure Coalition, a global alliance aimed at accelerating renewable energy infrastructure in a way that benefits communities and nature. The coalition, consisting of stakeholders from the private sector and environmental organizations, seeks […]
New Digital Platform Outlines 100 Actionable Solutions for Unlocking Clean Energy Investment in Emerging Markets
Geneva, Switzerland, 2 October 2024 – The World Economic Forum today launched a Playbook of Solutions, a novel digital platform that breaks down 100 policy measures, finance mechanisms and de-risking solutions from the past two decades that have successfully helped unlock capital for clean energy investment in 47 emerging and developing economies. Accelerating the clean energy transition and […]
Kyriba Opens New Data Center in Saudi Arabia
RIYADH, Saudi Arabia–(BUSINESS WIRE)– Kyriba, the global leader in liquidity performance, announced it will open a state-of-the-art data center in the Kingdom of Saudi Arabia in Q1 of 2025. This expansion supports the Kingdom’s 2030 vision initiative and emphasizes Kyriba’s commitment to digital transformation, innovation, and sustainable regional growth. The new data center will ensure full compliance with […]
Social Development Bank Successfully Concludes Fifth Edition of “Souq Al Dar” Under the Theme “Al Amariyah flourishes “
Riyadh – October 1, 2024 The Social Development Bank (SDB) successfully concluded the fifth edition of “Souq Al Dar” event, held under the theme “Al Amariyah flourishes”, in the Al Amariyah area of Diriyah. The event, held from September 26 to 29, was a resounding success, attracting more than 13,000 visitors over the four days. […]