Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
Fortinet Reports $1.63 Billion Revenue in Q2 2025
Highlights Fortinet® (Nasdaq: FTNT), a global cybersecurity leader driving the convergence of networking and security, today announced financial results for the second quarter ended June 30, 2025. reporting revenue of $1.63 billion, up 14% year-over-year. SASE Growth The company’s unified SASE platform achieved 22% growth in annual recurring revenue (ARR), while cybersecurity operations revenue increased […]
Social Development Bank Launches “Franchise Go” Forum Featuring Local and International Speakers to Promote Franchising Culture
Riyadh – August 19, 2025 The Social Development Bank (SDB) has announced the upcoming “Franchise Go” Forum, scheduled to take place in Riyadh from August 26 to 28. This event is part of the Bank’s strategic initiative to empower entrepreneurs to confidently navigate the franchising landscape, aiming to open new paths for expansion through successful […]
Beltone Mortgage Successfully Concludes its First EGP1.32 Billion Securitization Issuance
Cairo – August 19, 2025: Beltone Mortgage has successfully completed its first securitized bond issuance, with a total value of EGP1.32 billion. Beltone Investment Banking, acted as Financial Advisor, Lead Arranger and Bookrunner. The issuance, executed under Beltone Securitization’s second program, attracted strong investor demand with 2.3x oversubscription, reflecting market confidence in the quality of […]
MONEY20/20 MIDDLE EAST BRINGS TOGETHER THE VOICES DRIVING FINTECH FORWARD
Global fintech regulators, visionary founders, and investment heavyweights to take the stage in Riyadh this September Riyadh, Saudi Arabia – 14 August 2025 – Money20/20 Middle East, the premier platform for the fintech and financial community, hosted by the Financial Sector Development Program, Saudi Central Bank (SAMA), Capital Market Authority, Insurance Authority and co-organised by […]
Moro Hub Awards Green Certificate to Imperium Software Technologies for Sustainable Cloud Hosting
Imperium Software Technologies is projected to save approximately 43,969 KgCO₂e of carbon emissions Dubai, UAE, 8 August 2025: Moro Hub, a subsidiary of Digital DEWA, the digital arm of Dubai Electricity and Water Authority (PJSC), has presented a Green Certificate to Imperium Software Technologies for adoption of sustainable tech solutions hosted on Moro Hub’s Green […]
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The Saudi Real Estate Refinance Company Signs a Portfolio Acquisition Agreement With Arab National Bank
Riyadh, KSA – 8 August 2025 – The Saudi Real Estate Refinance Company (SRC), a PIF company, has signed a new agreement with Arab National Bank to acquire a real estate finance portfolio in the presence of His Excellency Majid bin Abdullah Al-Hogail, Minister of Municipalities and Housing and Chairman of the Board of the […]
Vertiv Launches OneCore for AI & HPC Data Centers
Vertiv launches OneCore to speed deployment of scalable prefabricated infrastructure for AI, HPC, and 5+ MW high-density data centers.
Tarabut Secures UAE Central Bank Approval for Open Finance Expansion
Tarabut secures UAE Central Bank approval, becoming the first fintech licensed for Open Finance in UAE, Saudi Arabia, and Bahrain.
Deloitte Middle East Launches ME Tax Pulse: A Mobile App for Smarter, Real-Time Tax Intelligence, with an AI powered assistant
Middle East, August 5th, 2025 – Deloitte Middle East today announced the launch of ME Tax Pulse, a next-generation mobile application designed to deliver timely, relevant, and region-specific tax insights to professionals across the Middle East. ME Tax Pulse brings together real-time regulatory updates, expert commentary, and curated content across a wide spectrum of tax […]
Alat & TK Elevator Secure Approvals for €160M Saudi JV
Riyadh, Saudi Arabia, August 5, 2025 – Alat, a PIF company, and TK Elevator (TKE), a global leader in vertical transportation and urban mobility, today confirmed receipt of all statutory and regulatory approvals required to close their €160 million joint venture (JV) and Alat’s 15% equity investment in TKE. The approvals mark the completion of […]
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Tarabut Wins CBUAE In-Principle Approval for Open Finance
Tarabut secures CBUAE in-principle approval for Open Finance, adding the UAE to Bahrain and Saudi Arabia to advance embedded finance and inclusion in MENA.
Mastercard and Monak advance financial inclusion for unbanked workers across MENA with launch of digital financial services platform
Dubai, UAE; 8 August 2025: Mastercard has joined forces with Monak, an Oman-based fintech company, to launch a digital financial services platform that enhances cross-border money transfers for migrant workers and improves wage disbursement and onboarding processes for employers. The platform also reduces the cost and complexity traditionally associated with basic financial services, thereby supporting […]
GMG and Amazon Announce Strategic Partnership to Expand Innovative Digital Retail Experiences for Customers across the Middle East and North Africa
The partnership combines Amazon’s advanced technology, fast delivery capabilities, and trusted online shopping expertise, with GMG’s extensive retail portfolio across the Middle East and North Africa (MENA) Dubai, UAE, July 30, 2025 – GMG, a global well-being and retail conglomerate, has announced a landmark partnership with Amazon in the Middle East and North Africa (MENA) […]
Social Development Bank Launches “Asir: Craftsmanship Celebration” to empower productive families
Abha – August 2, 2025 The Social Development Bank launched the “Asir: Craftsmanship Celebration” event as part of the “Asir is More Beautiful” Diwaniya, in strategic partnership with the Italian Institute of Contemporary Art, an expert in artistic jewelry design and production that focuses on empowering craftsmen and freelancers in the Asir region. The event […]
SRC Signs a Real Estate Finance Portfolio Purchase Agreement with Bank Albilad
Riyadh, KSA, 31 July 2025 – The Saudi Real Estate Refinance Company (SRC), a PIF company, has signed a real estate finance portfolio purchase agreement with Bank Albilad. The signing took place in the presence of His Excellency Majid bin Abdullah Al-Hogail, the Minister of Municipalities and Housing and Chairman of SRC, alongside Mr. Nasser […]
Employee Happiness Awards launches in Riyadh, recognises Kingdom’s best workplaces
Inaugural KSA edition honours organisations leading with people, not perks Aug 02, Riyadh, KSA: The first edition of the Employee Happiness Awards KSA was held last week at the Holiday Inn Riyadh – Al Qasr, bringing together finalists, jury members, and HR leaders to celebrate some of the Kingdom’s most forward-thinking employers. The event marked […]
Emaar The Economic City and Al Tahaluf Partner to Launch Luxury Villa Communities in KAEC’s Al Murooj
Emaar The Economic City and Al Tahaluf sign an agreement to develop luxury villas in KAEC’s Al Murooj district. Project set to launch in late 2025 with resort-style living on the Red Sea coast.
Selat Tech: Driving the Digital Future from the Heart of Saudi Arabia
In a world increasingly shaped by technology, Selat Tech emerges as a pioneering Saudi company transforming the digital landscape across the region. Headquartered in Riyadh, Selat Tech specializes in delivering cutting-edge solutions in digital transformation, artificial intelligence, and enterprise automation—positioning itself as a strategic enabler of Vision 2030. Founded with a clear mission to empower […]
Aramco and Arthur D. Little Release Insights on Leveraging AI for Carbon Market Integrity in FII Institute’s White Paper
Riyadh, Saudi Arabia, 30 July, 2025.: The Future Investment Initiative (FII) Institute, in collaboration with Aramco and Arthur D. Little (ADL), announces the release of a white paper titled “AI-Enabled Carbon Markets: Identifying AI Solutions for the Voluntary Carbon Industry.” The publication explores how artificial intelligence (AI) could improve transparency, accuracy, and efficiency in the […]
EazyPay brings Mastercard Receivables Manager to Bahrain to streamline B2B virtual card payments
Manama, Bahrain; 29 July 2025: Eazy Financial Services (EazyPay) has announced the launch of Mastercard Receivables Manager in Bahrain. EazyPay has become the first acquirer in the market to adopt the innovative solution that enhances virtual card payment processing for businesses. Mastercard Receivables Manager enables EazyPay to support merchants in automating their business-to-business (B2B) virtual […]
Al Fardan Exchange Deepens Ties with Pakistani Community in the UAE via Upgraded Consulate Centre
29 July 2025, Dubai, United Arab Emirates: Al Fardan Exchange, one of the UAE’s most trusted and long-standing financial services providers, has supported the renovation and infrastructure upgrades of the Consulate General of Pakistan, Dubai. As part of this enhanced experience, the consulate now features a dedicated Customer Engagement Centre powered by Al Fardan Exchange.This […]
GCG Enterprise Solutions Unveils Dedicated IT Services Website
Development Marks a New Era in Digital Transformation July 29, 2025 – Dubai, UAE: GCG Enterprise Solutions, a leading name in enterprise technology has proudly unveiled its dedicated IT Services website: www.gcg.ae/IT. This milestone marks the latest step in the Company’s strategic evolution from a traditional print services provider to a comprehensive IT solutions leader, […]