Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
Embracing AI can be key to driving the entrepreneurship of the future
By Selina Bieber, Vice President for International Markets for GoDaddy JEDDAH: Technology has seamlessly integrated into the daily lives of Saudis, and entrepreneurship is no exception. Small Saudi companies have eagerly embraced Artificial Intelligence to harness its potential. According to the 2024 GoDaddy Global Entrepreneurship Survey, 93% of Saudi entrepreneurs express confidence in navigating AI technologies […]
Nissan reports April-June results for fiscal year 2024
YOKOHAMA, Japan – Nissan Motor Co., Ltd. today announced financial results for the three months ended June 30, 2024. In the first quarter of the fiscal year, consolidated net revenue was 2.998 trillion yen, consolidated operating profit was 1.0 billion yen, and net income1 was 28.6 billion yen. While global sales remained even compared to the same period […]
SPC Free Zone and FedEx collaborate to boost global connectivity for businesses in Sharjah
The extensive FedEx logistics network will help SPC Free Zone’s e-commerce firms unlock their next phase of growth Sharjah, UAE, July 29, 2024: Sharjah Publishing City Free Zone (SPC Free Zone) and Federal Express Corporation (FedEx), the world’s largest express transportation company, are collaborating to enhance international market access for e-commerce businesses in Sharjah. FedEx will […]
Zain KSA Shatters Expectations with 6% Revenue Growth and 60% Net Profit Surge in H1 2024, Fuelling Digital Transformation in Saudi Arabia
Zain KSA announced its financial results for the first half of 2024, recording revenues of SAR 5 billion, a 6% increase compared to the same period in 2023. The company also reported a net profit of SAR 172 million, compared to SAR 108 million, a 60% growth over the same period in 2023, after excluding […]
Dynatrace Becomes the First AWS Partner to Integrate with
AWS Application Migration Service Organizations migrating workloads to the AWS cloud can seamlessly install and deploy Dynatrace for their observability needs, facilitating smooth end-user experiences WALTHAM, Mass., July 25, 2024 – Dynatrace (NYSE:DT), the leader in unified observability and security, today announced its observability platform is now integrated with AWS Application Migration Service (MGN), making it the […]
Zain KSA Launches Phase II of E-waste Recycling Campaign in Collaboration with Ertiqa
As part of its corporate sustainability strategy and echoing its commitment to environmental preservation in the Kingdom, Zain KSA has signed a strategic partnership with the non-profit organization Ertiqa to roll out the second phase of its e-waste management and recycling campaign. Through this partnership, Zain KSA and Ertiqa aim to boost investment in the […]
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Digital transformation is essential for boosting companies’ competitiveness
In a sweeping digital revolution taking the world by storm, Saudi Arabia stands as a leading model in adopting digital transformation, recognising its importance for achieving sustainable development and prosperity across all sectors. Riyadh: The world is witnessing a rapid spread of the internet and mobile devices, leading to a massive digital revolution. Out of […]
STC Group Reports 4.79% Revenue Growth and 7.73% Net Profit Increase in H1 2024; Announces Q2 Dividend of SAR 0.40 Per Share
Riyadh, Kingdom of Saudi Arabia, 23 July 2024 – stc today announced the company’s preliminary financial results for the period ending at 30 June 2024: Commenting on the results, Eng. Olayan bin Mohammed Alwetaid, stc group’s CEO, commended the efforts made by the group through its various sectors and subsidiaries in strengthening the Group’s position in […]
FedEx Appoints Abdulrahman Al-Mubarak as Managing Director Operations
Abdulrahman Al-Mubarak, newly-appointed FedEx Managing Director Operations Riyadh, Saudi Arabia, July 23, 2024: Federal Express Corporation, the world’s largest express transportation company, has appointed Abdulrahman Al-Mubarak as its new Managing Director Operations. Based in Riyadh, Abdulrahman holds a regional role in the Middle East and is responsible for the company’s strategic direction and operations for Saudi […]
Finastra partners with CredAble to deliver a holistic supply chain finance offering to banks globally
Finastra Trade Innovation, integrated with CredAble’s supply chain finance platform, enables banks to grow their trade and supply chain finance business and deliver enhanced customer experiences Dubai, UAE – July 23, 2024 – Finastra, a global provider of financial software applications and marketplaces, today announced its partnership with CredAble, a working capital finance platform, to expand the functionality […]
The critical role of payment performance in maximizing ecommerce success
July 23, 2024 — The MENA region is undergoing remarkable digital growth. According to Checkout.com’s 4th annual ecommerce report, The State of Digital Commerce in MENA 2024,the company witnessed a 658% surge in total payments processing volume (TPV) in the region between 2020 and 2023. The YOY increase in TPV 2023 vs 2022 alone, is 78%. Not only is e-commerce thriving, but there’s also […]
Real Estate Registry Wins Esri Award for GIS Excellence
Riyadh, July 22, 2024, SPA — The Saudi National Real Estate Registration Services Company (Real Estate Registry – RER) received the 2024 Special Achievement in Geographic Information Systems (SAG) award from the Environmental Systems Research Institute (Esri). This award acknowledges RER’s exceptional and innovative use of geospatial information systems (GIS) at the Esri User Conference […]
Alshaya Group and Mastercard partner to drive growth of GCC’s retail sector through Aura loyalty programme co-brand launches
Multimarket partnership will see the launch of Alshaya Group’s loyalty programme Aura and Mastercard co-branded credit cards to offer customers benefits across more than 70 brands Riyadh, Saudi Arabia, 22nd July 2024: Alshaya Group, one of the leading international retail franchise operators, has partnered with Mastercard to expand its award-winning loyalty programme, Aura. The partnership, which will […]
PayerMax Boosts Saudi Mobile Gaming Payments: Empowering the Thriving Esports Ecosystem
Esports has introduced a new form of entertainment in Saudi Arabia, particularly for the younger generation who are avid gamers. As the inaugural Esports World Cup kicks off in Riyadh, PayerMax, a leading global payments solutions provider, reaffirms its commitment to empowering innovation in Saudi Arabia’s mobile gaming industry. Saudi Arabia boasts a staggering mobile gaming market […]
Nationalisation in Saudi’s Engineering Sector
The Ministry of Human Resources and Social Development, in partnership with the Ministry of Municipal and Rural Affairs and Housing, has announced the decision to nationalise 25% of engineering professions in the private sector effective from 21 July 2024. This will be applicable to all private sector establishments that employ five employees in the engineering […]
Mastercard Becomes Official Partner of Esports World Cup in Riyadh
Sponsorship Enhances Digital Experience and Supports Saudi Vision 2030 RIYADH, Saudi Arabia — July 18, 2024 — The Esports World Cup Foundation (“EWCF”) is proud to announce Mastercard as an Official Partner of this year’s Esports World Cup (“EWC”), the world’s largest gaming festival set to take place this summer in Riyadh, Saudi Arabia. Through curating an exciting, one-of-a-kind […]
NEW MURABBA STADIUM: A VISIONARY EPICENTER FOR SPORTS AND ENTERTAINMENT, TRANSFORMING RIYADH AND SETTING THE STAGE FOR SAUDI ARABIA’S GLOBAL SPORTS AMBITIONS
Riyadh, Saudi Arabia – 16 July 2024 – New Murabba Development Company – a PIF Company – today unveiled the design of New Murabba Stadium, an architectural marvel with a capacity of over 45,000. The stadium will be a central pillar of “New Murabba” the transformative downtown destination in Riyadh City. Inspired by the layered overlapping […]
Taking RAK Businesses Global: FedEx Collaborates with RAKEZ to Empower Local Businesses
Ras Al Khaimah, UAE, July 16, 2024: Federal Express Corporation, the world’s largest express transportation company, collaborated with Ras Al Khaimah Economic Zone (RAKEZ), a pioneer business and industrial powerhouse in the UAE, to successfully host its inaugural strategic breakfast meeting to educate and share insights with over 50 companies in Ras Al Khaimah (RAK) about logistics innovations that […]
Arthur D. Little Inaugurates New Regional Hub in Riyadh’s Iconic King Abdullah Financial District
Riyadh, Saudi Arabia – 15 July 15, 2024, Arthur D. Little (ADL) is pleased to announce the inauguration of its new regional headquarters office at the prestigious King Abdullah Financial District (KAFD). The event was graced by the presence of His Excellency Eng. Khalid bin Abdulaziz Al-Falih, Minister of Investment, Saudi Arabia, and Gautam Krishna […]
Alstom opens its regional headquarters in Saudi capital Riyadh
15 July 2024 – Alstom, the global leader in green and intelligent mobility solutions, proudly inaugurated its regional headquarters in Riyadh today. This significant step underscores Alstom’s commitment to advancing sustainable mobility and its long-standing role in shaping the region’s railway development. Strategically located in the capital of Saudi Arabia, the new headquarters is designed to […]
Gulf Islamic Investments (GII) Appoints Saeed Saleh Al Ghamdi to Board, Boosting Saudi Arabia Expansion
Riyadh: Gulf Islamic Investments group (GII) has welcomed Mr Saeed Saleh Al Ghamdi to the Board of GII Holding LLC, strengthening its representation of Saudi nationals on its Board of Directors. GII’s activities expand across The Kingdom of Saudi Arabia in 2024. Saeed Saleh Al Ghamdi is the Chief Executive Officer of the Al Nahdi […]
Mastercard launches a university challenge on financial inclusion for the SDGs in partnership with the Ministry of Sustainable Development, BENEFIT, Tamkeen and StartUp Bahrain
Riyadh, Saudi Arabia, 10 July, 2024 – Today, Mastercard, in partnership with the Ministry of Sustainable Development of Bahrain, launched the Mastercard Challenge on Financial Inclusion for the SDGs under the theme ‘Solving for the Future’. Run in collaboration with The BENEFIT Company, The Labour Fund (Tamkeen) and StartUp Bahrain, the competition invites Bahrain’s university students […]