Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
ICT Leaders Discuss Future of Tech Talent and Digital Transformation in ME&CA
Tashkent, Uzbekistan, August 13, 2024 – During the Huawei Seeds for the Future 2024 Regional Final, ICT leaders from government, private sector, and media representatives came together for an insightful panel discussion on the future of ICT talent and the pivotal role it will play in shaping the future digital economies. This pivotal event, held at […]
WakeCap confirms key role in improving construction safety throughout Saudi Arabia
WakeCap’s smart solution for construction site management presented to the Kingdom’s Ministry of Industry and Mineral Resources, prompting a directive to establish regulations for its adoption Riyadh, Saudi Arabia; 13 August 2024: WakeCap, a workforce safety and productivity solution, showcased its smart construction site management technologies to the Kingdom’s Ministry of Industry and Mineral Resources, which will see the company […]
Almarai Joins Oman Labour Forum to Strengthen Strategic Partnerships and Showcase Expertise in Developing Human Capital for Enhanced Food Security
Salalah, Sultanate of Oman, 11 August 2024: In a move to strengthen strategic partnerships, Almarai Company is participating in the Oman Labour Forum, organized by the Omani Ministry of Labour, from August 11 to 27, 2024. The event, held under the patronage of H.E. Dr. Mahad bin Said bin Ali Baowain, Omani Minister of Labour, is […]
Taiba Investments Achieves Robust H1 2024 Financial Results
193% YoY Rise in Revenue Taiba Investments has announced impressive financial results for the first half of 2024, showcasing substantial growth in both revenue and profitability. This robust performance underscores the effectiveness of Taiba’s expansion and operational strategy. A significant driver of this success was the completion of the merger with Dur Hospitality, which notably […]
X Payment Service: A Game-Changer on the Horizon
In mid-2024, X (formerly Twitter) is set to launch the groundbreaking X Payment Service, aiming to transform how we manage finances online. Spearheaded by Elon Musk, this service promises a seamless integration of financial tools within the X ecosystem, allowing users to earn interest and engage in peer-to-peer transactions, signaling a new era in digital commerce.
stc Group Paves the Way for Sustainable Transformation
Riyadh, Saudi Arabia, 8 August 2024: stc Group, a leading digital enabler, launched its fifth annual sustainability report, continuing its commitment to driving forward sustainable transformation through environmental, social, and governance (ESG) excellence. The initiatives outlined in stc Group’s 2023 Sustainability Report contribute to sustainable transformation and a future where businesses are the catalysts for protecting […]
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Emaar recorded impressive growth of 56% in group property sales in H1 2024 reaching AED 31.5 billion (US$ 8.6 billion)
Dubai, United Arab Emirates – 8 August 2024: Emaar Properties PJSC (DFM: EMAAR) has released its financial results for the first half of 2024, showcasing consistent resilient performance and operational efficiency across its various businesses. Key Accomplishment Highlights Emaar recorded total revenue of AED 14.4 billion (US$ 3.9 billion) and a net profit before tax of […]
Winners in First Annual Stevie® Awards for Technology Excellence Announced
Inaugural Winners to Be Celebrated at a Ceremony in New York on September 16 August 7, 2024—Fairfax, VA USA: Winners in the 2024 (first annual) Stevie® Awards for Technology Excellence, “the Olympics for technology,” were announced today. The awards celebrate the remarkable accomplishments of individuals, teams, and organizations shaping the future of technology across all […]
The Digital Cooperation Organization launches the second edition of EconomiX magazine, focusing on the global digital economy
The magazine explores critical issues shaping the future of the digital economy and women’s empowerment in the ICT sector. Riyadh, Saudi Arabia, 7 August 2024: Building on the success of its inaugural issue, the Digital Cooperation Organization (DCO), a global multilateral organization committed to enabling digital prosperity for all by accelerating the sustainable and inclusive growth of […]
Dynatrace Celebrates Five Year IPO Anniversary
Dynatrace (NYSE: DT) – helping the world’s largest 15,000 organizations deliver flawless and secure digital transactions – has released its latest financial results for the first quarter of its fiscal 2025. Some highlights include: On the heels of two major global IT outages in the last two weeks – including one that experts are calling the […]
Odoo Middle East Announces Strategic Partnership with Hotdesk Technologies Middle East
Odoo, an open-source ERP system, has signed a Memorandum of Understanding with Hotdesk, a coworking marketplace, to enhance growth for small and medium businesses by leveraging Odoo’s robust ERP solutions and Hotdesk’s flexible workspace offerings. Dubai, UAE; 7 August 2024 – Odoo Middle East, an ERP provider that enables companies to streamline operations, improve efficiency, enhance […]
Unprecedented Growth: Saudi Arabia Fuels MENA Investment Boom
The Middle East and North Africa’s investment banking sector witnessed robust growth in the first half of 2024, with Saudi Arabia emerging as a key driver. This article delves into the key trends and highlights from the LSEG Middle East & Africa Investment Banking review for H1 2024.
Saudi Fund for Development Announces Celebration of 50 Years of Global Impact with Anniversary Event
Riyadh, Saudi Arabia, 6 August 2024: The Saudi Fund for Development (SFD) will host a Gala Dinner on September 01, 2024, under the theme Celebrating 50 Years of Global Impact, commemorating five decades of driving sustainable global development and progress. Since its establishment in 1974, the SFD has been the leading international development arm of the […]
SADAFCO Presents Exciting Career Opportunities to the Kingdom’s New Generation of Talent at Tamkeen Forum
06 August 2024, Jeddah, Saudi Arabia Saudia Dairy and Food Stuff Company (SADAFCO), the leader in UHT (long life) milk, ice cream and tomato paste in the Kingdom of Saudi Arabia, has participated in the recent Tamkeen Forum, organized by The Society of Majid Bin Abdulaziz for Development and Social Services, a community committed to sustainability as […]
Oracle Strengthens Saudi Arabia’s AI Economy with Opening of Second Public Cloud Region
The new public cloud region in Riyadh is Oracle’s second cloud region in Saudi Arabia and part of Oracle’s US $1.5 billion investment to boost the country’s cloud capacity in line with Saudi Vision 2030 Saudi organizations can use Oracle Cloud Infrastructure’s high performance and built-in security, robust data, distributed cloud, and disaster recovery capabilities to […]
Eight eCommerce Back-to-School Marketing Tactics from GoDaddy
Jeddah – As summer winds down and the school year approaches, GoDaddy is sharing eight back-to-school marketing strategies for small businesses actively selling their products and services online. With online shopping becoming the norm post-pandemic, these tactics are designed to help small companies grow and build customer engagement during one of the most active shopping periods of […]
MULTIBANK GROUP, MASHREQ PARTNER TO LAUNCH INSTANT PAYMENTS SERVICE
Dubai, UAE – August 2, 2024: MultiBank Group, the largest financial derivatives institution worldwide headquartered in Dubai, announces its strategic partnership with Mashreq to launch the latest technology enabling instant payments service. This collaboration aligns with MultiBank Group’s dedication to providing advanced, user-friendly financial services and seeks to enhance transactional efficiency and improve operational transparency for […]
Saudia Dairy and Foodstuff Co. Reports Strong Second Quarter Financial Results
31 July 2024, Jeddah, Saudi Arabia: Saudia Dairy and Foodstuff Co. (SADAFCO), the leader in the UHT (Long Life) Milk, Ice Cream and Tomato Paste market in the Kingdom of Saudi Arabia reported a significantly higher net profit (19%)for the second quarter compared to the same quarter last year. The company reported net profit SAR 127.8 million for […]
LG RELEASES SECOND-QUARTER 2024 FINANCIAL RESULTS
Company Sets New Records for Second Quarter Revenue and Operating Profit Through Balanced Qualitative Growth in Core and Future Businesses Riyadh, July 30, 2024 — LG Electronics Inc. (LG) today announced second-quarter 2024 consolidated revenue of KRW 21.69 trillion and operating profit of KRW 1.20 trillion, reflecting an 8.5 percent year-over-year increase in revenue and a 61.2 percent surge […]
Saudi Arabia and United Arab Emirates Dominate Mergers and Acquisitions in MENA with $9.8 Billion in 2024
Dubai, UAE – 30 July 2024: According to the EY MENA M&A Insights H1 2024 report, the MENA region witnessed a slight increase in merger and acquisition (M&A) activity with a total of 321 deals amounting to US$49.2b. When compared to H1 2023, deal volume this year grew by 1%, while deal value saw a rise of […]
Intelmatix Secures $20M in Region’s Largest AI Series A Funding Round
Shorooq Partners led the public and private investment in Intelmatix to make AI accessible to enterprises in the MENA region. Riyadh, Saudi Arabia – July 30th, 2024 – Intelmatix, a leading deep-tech AI company, announced today that it successfully raised $20 million in funding at the closure of the region’s largest AI Series A round. The […]
“كوارا للتمويل” تطلق منتجاً جديداً للتمويل الشخصي الرقمي وتكامل الخدمات المصرفية المفتوحة
الرياض، المملكة العربية السعودية؛ 10 يوليو 2024: أعلنت “كوارا للتمويل”، الشركة السعودية الرائدة في توفير الحلول المالية المبتكرة المتوافقة مع أحكام الشريعة الإسلامية، عن إطلاق منتجها المبتكر للتمويل الشخصي الرقمي بالكامل لتلبية الاحتياجات المالية للعملاء بسهولة وكفاءة عالية، من خلال الاستفادة من أحدث تقنيات الخدمات المصرفية المفتوحة لتبسيط إجراءات عملية طلب التمويل. ويعد التكامل مع مزود معتمد […]