Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
Ajman Bank Launches AccelRight Business Credit Card in Partnership with Visa
Ajman Bank has announced the launch of Ajman Bank AccelRight Business Credit Card in collaboration with Visa. The Memorandum of Understanding between Ajman Bank and Visa was signed at an exclusive signing ceremony attended by Mr. Mustafa Al Khalfawi, CEO of Ajman Bank and Dr. Saeeda Jaffar, Group Country Manager, and Senior Vice President, GCC, Visa. The AccelRight Visa Business […]
Google Cloud Opens New Offices in Kuwait to Accelerate Digital Transformation
Kuwait City, Kuwait – July 10, 2024 – Today, Google Cloud announced the opening of its new offices in Kuwait licensed by Kuwait Direct Investment Promotion Authority (KDIPA) at an event attended by His Excellency Mr. Omar Saud Al-Omar, Minister of Commerce and Industry and Minister of State for Communication Affairs. This expansion further signifies Google […]
Unlocking Success: 93% of Entrepreneurs in the Kingdom Embrace Technology
GoDaddy’s 2024 Global Entrepreneurship Survey reveals entrepreneurs in Saudi Arabia are innovative and digitized with 93% also reporting confidence in their abilities to use AI technology for their business. JEDDAH – April 25, 2024 – According to the GoDaddy 2024 Global Entrepreneurship Survey entrepreneurs in the Kingdom are well informed, have a meaningful purpose for becoming […]
Payments Security: The Key to Winning Consumer Loyalty in MENA
July 08, 2024 — The adoption of digital commerce in MENA has skyrocketed over the past few years. Countries that were once deeply attached to cash and physical transactions have shot to digital maturity in just a few years. According to Checkout.com’s 4th annual MENA ecommerce report, The State of Digital Commerce in MENA 2024, 91% of the region’s […]
Thakher Development Company CEO: Makkah’s Hospitality Sector Sustains its Strong Performance During Hajj Season 1445
Makkah, Kingdom of Saudi Arabia, 08 July 2024: Thakher Development Company’s CEO, Eng. Abdulaziz bin Saleh Al-Aboudi, announced that the hospitality sector in the Holy City of Makkah sustained its strong performance during Hajj season 1445, with occupancy rates in Thakher Makkah project hotels reaching 100% for the second consecutive year. The CEO attributed this strong […]
Mastercard and LuLu Group forge multimarket partnership to drive sustainability, innovation and efficiency in retail payments
Riyadh, Saudi Arabia- 4 July 2024: Following a decade-long partnership in the retail sector, Mastercard and LuLu Group join hands to foster sustainability, innovation, and efficiency in payments across multiple markets. Extending across six markets, including Bahrain, Kuwait, Oman, Qatar, UAE and now Saudi Arabia, the partnership will see an integration of Mastercard’s expertise into Lulu Group’s […]
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Jadwa Investment Awarded Best Investment Return at the Sanadeq Investment Funds Awards for Saudi Real Estate
Riyadh, KSA, 11 June 2024 — Jadwa Investment, a leading investment management and advisory firm in the Middle East, received an award in its capacity as fund manager of Jadwa REIT Saudi Fund for Best Investment Return in 2023 among Saudi real estate investment funds at the Sanadeq Investment Funds Awards. The award was announced […]
Najm launches “NRN” service, the First-of-its kind to repair Third-party insurance clients’ vehicles
This service aims to enhance the safety on the roads Riyadh, July 3, 2024 Najm for Insurance Services Company has launched the Najm Repair Network Service “NRN” to repair the third-party insurance clients’ vehicles affected by traffic accidents. The new service is the first initiative of its kind in the Saudi insurance sector, which aims to enhance […]
“Tatweer Company” & “Dallah” Establish a Fund to Develop Land on King Fahd Road Worth Over 1.2 Billion Saudi Riyals in Riyadh
Riyadh, Saudi Arabia, July 02, 2024: Tatweer Company, has announced the launch of a new mixed-use project valued at over 1.2 billion Saudi riyals in the heart of Riyadh. The project is designed to reshape the urban landscape and improve the quality of both working and living conditions in the city. Located along King Fahd Road, […]
Shell & AMG Recycling seek Execution Contractors for KSA’s first Metals Circularity Facility Development
July 2, 2024 – Riyadh, Saudi Arabia – Shell & AMG Recycling B.V. (“SARBV”) as the lead partner of the joint venture company Advanced Circular Materials Company, presents an opportunity for contractors to participate in the first Metals Circularity Project in KSA, to accelerate energy transition, achieve sustainability aspirations and drive circular investment in the Kingdom, and in […]
Saudi Minister of Finance Concludes his Participation in OPEC Fund Development Forum and Ministerial Meeting
Vienna, June 26, 2024 His Excellency the Saudi Minister of Finance, Mr. Mohammed bin Abdullah Aljadaan, concluded his participation in the OPEC Fund Development Forum and Ministerial Meeting held June 25-26, 2024 in Vienna, Austria. During the meeting, Minister Aljadaan described Saudi Arabia’s efforts to boost non-oil revenues and diversify its economy systematically and strategically […]
Emirates NBD and Jarir Bookstore Sign Memorandum of Cooperation to enhance customer experience for clients.
Riyadh, Saudi Arabia – June 26 2024: Emirates NBD, a leading banking group in the MENAT (Middle East, North Africa and Turkey) region, have announced the signing of a cooperation agreement with Jarir Bookstore, aimed at enhancing the customer experience by offering exclusive services and benefits to their clients. This significant step embodies the vision […]
5G-A – A true enabler of Saudi Arabia economic transformation
MWC Shanghai 2024 runs from 26 to 28 June at the Shanghai New International Expo Centre. The event focuses on 5.5G, AI, and digital transformation to strengthen extensive cooperation across the ICT industry value chain. Huawei is one of the critical global vendors participating in the event to showcase its latest products and solutions. “On Day […]
World Economic Forum Identifies Top 10 Emerging Technologies to Address Global Challenges
Dalian, People’s Republic of China, 25 June 2024 – The World Economic Forum announces today the publication of its annual Top 10 Emerging Technologies Report featuring technologies with the greatest potential to make a positive impact in the world in the next three to five years. “Organizations make better choices when they understand the factors shaping the future. […]
New Marsh report underscores importance of mitigating employee-related risks as Saudi businesses pursue ambitious economic diversification goals
RIYADH, 25 June, 2024 — According to a new report from Marsh, the world’s leading insurance broker and risk advisor and a business of Marsh McLennan (NYSE: MMC), organizations in the Kingdom of Saudi Arabia face a range of employee-related risks – from technology disruption to workforce practices, governance and sustainability – which could, if left unaddressed, […]
PayerMax Strengthens Commitment to Saudi Arabia with Inauguration of Regional Headquarters
PayerMax, a leading global payment solutions provider, is proud to announce its decision to expand into the Kingdom of Saudi Arabia (KSA) and its noteworthy commitment to the KSA by establishing its regional headquarters in Riyadh. PayerMax participated in the Regional Headquarters Program (RHQ) established by the Ministry of Investment and obtained an RHQ license this month. […]
EY MENA to locate its new regional headquarters in KAFD
Riyadh, Saudi Arabia – 25 June 2024: The new EY MENA regional headquarters for the Middle East and North Africa (MENA) region will be located at the King Abdullah Financial District (KAFD) in Riyadh, Saudi Arabia (KSA), opening later this year. In line with EY’s people-centered approach to transformation, the new facility is designed to […]
Mastercard Move collaborates with urpay to enable convenient and secure cross-border payment services
Agreement will see Mastercard and urpay work together to empower consumers with access to leading cross-border and remittances services through urpay digital wallet Riyadh, Saudi Arabia – 24, June 2024 – As part of its mission to connect and power an inclusive digital economy, Mastercard has signed a strategic agreement with urpay to offer urpay consumers across […]
Almarai Signs Agreement with Social Development Bank to Launch “Almarai Chefs” Program
Riyadh, Saudi Arabia, June 23, 2024 – Almarai Company has signed a cooperation agreement with the Social Development Bank to launch the “Almarai Chefs Program” aimed at strengthening and empowering owners of very small cooking projects in the Riyadh region, as part of its support and encouragement for entrepreneurs. The agreement was signed by the CEO […]
Vertiv and Ballard announce strategic technology partnership to support alternative energy usage for data centers in North America and EMEA
Dubai, UAE [June 21, 2024]—Vertiv (NYSE: VRT), a global provider of critical digital infrastructure and continuity solutions, and PEM fuel cell market leader Ballard Power Systems (NASDAQ: BLDP; TSX: BLDP) have entered into a strategic technology partnership focused on backup power applications for data centers and critical infrastructures, scalable from 200kW to multiple MWs. Collaborating to […]
Cisco Launches $1B Global AI Investment Fund
Cisco Live, LAS VEGAS, June 10, 2024: Cisco Investments, the global corporate venture investment arm of Cisco (NASDAQ: CSCO), has launched a $1B AI investment fund to bolster the startup ecosystem and expand the development of secure and reliable AI solutions. As part of the new AI fund, Cisco is making strategic investments in Cohere, Mistral […]
Nvidia Overtakes Apple, Emerging as the Second-Largest Public Company in the U.S.
Nvidia has officially surpassed Apple to become the second-largest publicly traded company in the U.S., boasting a market capitalization of $3.019 trillion. This surge highlights Nvidia’s dominant position in the AI chip market, which has fueled a meteoric 147% rise in its stock this year. With the upcoming launch of its advanced AI chip platform, Rubin, in 2026 and controlling 70% of the AI semiconductor market, Nvidia is poised for continued growth and innovation. Key insights reveal Nvidia’s pivotal role in the tech sector’s future and its potential to become the leading company in the industry.