Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
PIF and WTA sign multi-year partnership to accelerate the growth of women’s tennis globally
The Public Investment Fund (PIF) and the WTA have today unveiled a multi-year partnership that will support their shared ambition to grow women’s professional tennis and inspire more women and girls around the world to take up the game. The partnership will also enhance and develop initiatives that support players at all levels. As a […]
Dell Technologies Expands Dell AI Factory with NVIDIA to Turbocharge AI Adoption
Dubai, UAE – MAY 22, 2024 Dell Technologies (NYSE: DELL) expands the Dell AI Factory with NVIDIA to include new server, edge, workstation, solutions and services advancements that speed AI adoption and innovation. “Organizations are moving quickly to capture the AI opportunity, which is why our collaboration with NVIDIAis so important,” said Michael Dell, founder and CEO, Dell Technologies. “Our expansion of the Dell AIFactory with NVIDIA continues our joint mission – we’re making it easy for organizations to implement AI so they can […]
Saudi Arabia Shows High Adoption and Planned Expansion of Hybrid Multicloud with 2024 Investment Focus on AI Strategy and Cloud Staff
CIOs increasingly prioritizing hybrid IT strategies to manage complexity of running applications and data across clouds Riyadh, Saudi Arabia, 21nd May, 2024 – Nutanix (NASDAQ: NTNX), a leader in hybrid multicloud computing, announced the findings of its sixth global Enterprise Cloud Index (ECI) survey and research report, which measures enterprise progress with cloud adoption. The majority of Saudi Arabia respondents in this […]
“Tatweer Real Estate Development” and “Alfaisal University” Host “Career Success” Meeting at the End of the Real Estate Education Program
Riyadh, Saudi Arabia, May 21, 2024: During closing ceremony of the Real Estate Development Program, “Tatweer Real Estate Development” and “Alfaisal University” organized a meeting titled “Career Success”, aimed to equip students with practical experiences and prepare them for the world of work. The meeting covered several topics, including setting career goals, with guidance provided on how […]
Next-Gen Global Engagement Tech Leader, Merit, Secures $12M, Surpassing $5M Goal in Oversubscribed Pre-Series B Financing
Riyadh, Saudi Arabia, May 20, 2024, Massive Media: In a noteworthy development, Merit, which focuses on customer and engagement technology, has reported oversubscription in its latest funding round, drawing $12 million against a goal of $5 million in its pre-Series B effort led by Alistithmar Capital i-Cap and followed by existing Series A investors, Tech Invest Com […]
Thakher Development: Handing Over “Novotel Residences Makkah” Units to Buyers in Preparation for the Hajj Season
Makkah, Kingdom of Saudi Arabia, May 19, 2024: Thakher Development Company, the master developer for the Thakher Makkah project, announced its readiness for the Hajj season by starting the delivery of residential units in the “Novotel Residences Makkah” tower, located approximately 1 km from the Great Mosque (Haram), and also provides easy access to the holy […]
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New Murabba: A Destination for the Future Saudi of Urban Development
Riyadh, 18 May 2024: New Murabba – a PIF company – one of the leading players in Saudi Arabia’s giga-project landscape, solidified its commitment to shaping the future of Riyadh and global urban development at the recently concluded MENA Construction Summit Saudi Giga Projects 2024. The summit offered a comprehensive view of the US$880 billion […]
Deloitte Middle East and UAE Internal Auditors Association sign MOU at The Audit Summit in Abu Dhabi
Abu Dhabi, United Arabi Emirates – 17 May 2024: On the back of its participation as the Knowledge Partner of The Audit Summit that was held in Abu Dhabi 15 and 16 May, Deloitte Middle East announced today its Memorandum of Understanding (MOU) with the Internal Audit Association in the United Arab Emirates (UAE IAA), to […]
EZDUBAI LAUNCHES FOURTH E-COMMERCE REPORT, HIGHLIGHTS KEY TRENDS SHAPING MENA E-COMMERCE MARKET
Dubai, UAE, 16 May 2024: EZDubai, the fully dedicated e-commerce zone in Dubai South, has launched the fourth edition of its ‘E-Commerce Report in the MENA Region 2023’ in collaboration with Euromonitor International, the world’s leading provider for global business intelligence, market analysis and consumer insights. The report revealed that the UAE’s total e-commerce market size […]
Zain KSA to invest SAR 1.6 billion for 5G network expansion in the Kingdom
Aiming to enhance digital experiences by expanding to 122 cities and governorates, Zain KSA is injecting SAR 1.6 billion to expand its infrastructure, 5G network, and digital services ecosystem. Part of an integrated expansion plan, this step aligns with Zain KSA’s strategy to achieve digital inclusion across the Kingdom and enable an advanced digital infrastructure […]
QFZ and FedEx Logistics Sign MoU to Establish a Regional Logistics Facility in Qatar’s Free Zones
Doha, Qatar, (May 15, 2024): Qatar Free Zones Authority (QFZ) and FedEx Logistics, a subsidiary of FedEx Corporation (NYSE: FDX), signed a Memorandum of Understanding (MoU) to facilitate the establishment of a regional logistics facility in Qatar’s free zones. The facility, which will operate under the company’s FedEx Trade Networks Transport & Brokerage division, will be […]
eWTP Arabia Capital’s Technology Fund I
Recognized as Top Performing VC Fund in the Preqin League Tables 22nd April 2024, Riyadh, KSA: eWTP Arabia Capital Technology Fund I (“Techology Fund I”), managed by eWTP Arabia Capital (“eWTPA”), one of the leading private equity firms in the Middle East, was listed in the Preqin League Tables as the the fifth top-performing VC funds in the US$250 Million to […]
AL Gharbia Company Celebrates the Launch of “Roshan” Project in Northern Jeddah
Jeddah 14th May – Al Gharbia Development and Investment Company, the development arm of Tatweer in the Western Region, is celebrating the launch of its first project in the Bride of the Red Sea – Jeddah – on Tuesday, May 14, 2024. The project “Roshan” is one of the distinguished and ambitious urban and commercial […]
Saudi sees a 180% surge in monthly online shoppers in the past 48 months
Riyadh, Saudi Arabia – May 14, 2024: Amidst an era marked by swift digital transformation, Saudi Arabia’s digital payments ecosystem has demonstrated exceptional growth, while Saudi consumers continue to be increasingly enthusiastic about online shopping demonstrated by an impressive 180% increase in monthly e-commerce shoppers since 2020. These insights and more were revealed in Checkout.com’s 4th annual MENA e-commerce report. The […]
Eaton launches the 9395X UPS, an intelligent, space-saving, uninterruptible Power Supply (UPS) for the hyperscale and colocation data centre segment
DUBAI, UNITED ARAB EMIRATES – Eaton, the intelligent power management company, has opened a new state-of-the-art campus in Helsinki to boost its capacity to manufacture and supply Uninterruptible Power Supply (UPS) systems, including its latest product, the Eaton 9395X. Now in production at the company’s new state-of-the-art campus in Helsinki, Finland, the Eaton 9395X UPS occupies a footprint […]
ETHER by Cloud Spaces and Abu Dhabi Businesswomen Council Launch Second Set of Emirati Female-Owned Brands
– This comes in line with their commitment to drive the growth of local retail businesses and empower Emirati female entrepreneurs Abu Dhabi, UAE – MAY 13, 2024: ETHER by Cloud Spaces, in collaboration with the Abu Dhabi Businesswomen Council, a subsidiary of the Abu Dhabi Chamber of Commerce and Industry, has announced the launch of […]
The Ministry of Investment of Saudi Arabia (MISA) Signs MoU with Ant International to Expand Business in Saudi Arabia, Supporting Regional Digital Innovation
RIYADH, Saudi Arabia–(BUSINESS WIRE/AETOSWire)– The Ministry of Investment of Saudi Arabia (MISA) has signed a Memorandum of Understanding (MoU) with Ant International, to facilitate the business expansion into the Kingdom. Ant International’s President, Douglas Feagin, met with Mr. Eng Saleh Khabti, Deputy Minister of Investment of Saudi Arabia during a signing ceremony held in Riyadh, […]
Ramco Systems brings revolutionary payroll-platform ‘Ramco Payce’ to Saudi Arabia
May 13, Riyadh, KSA: Ramco Systems, a leading global enterprise solutions provider specializing in payroll technology, has announced the launch of Ramco Payce, a revolutionary platform-based payroll software, in Saudi Arabia. With Ramco’s two decades of exceptional performance in this domain, this new payroll solution is designed to transform how businesses in the KSA manage their payroll processes by leveraging cutting-edge technologies such as […]
“National Housing Company” and “Talaat Mostafa Group” Lay Foundation Stone for “Banan City” in Northeast Riyadh
The project’s expected revenues are projected to reach SAR 40 billion (approximately USD 12 billion) 11 May 2023 Riyadh, KSA: In a significant step forward for real estate development in Saudi Arabia, the National Housing Company (NHC), in collaboration with Talaat Mostafa Group – Saudi Arabia, marked a milestone with the foundation stone laying of […]
Zain KSA reports revenue of SAR 2.5 billion in Q1 2024
Posting a 4.7% growth from Q1 2023 Zain KSA announced the financial results for the first quarter of 2024, with revenue of SAR 2.5 billion, an increase of 4.7% compared to the same period in 2023. Zain KSA reported a net profit of SAR 67 million compared to SAR 1.1 billion in the first quarter […]
ACCIONA CELEBRATES 14 MILLION HOURS WITHOUT INJURIES DURING THE CONSTRUCTION OF THE AL KHOBAR 2 DESALINATION PLANT
WATER PRODUCTION The plant will have a daily capacity of more than 600,000 m³ and will provide a service to three million people in the area, making it one of the biggest in the country. RIYADH, APRIL 01 2024. ACCIONA has achieved fourteen million man-hours without lost-time injuries (LTI) at the Al Khobar 2 SWRO desalination […]
Aramex partners with Omniful to enhance e-commerce fulfillment with Advanced Order Management Solutions
Dubai, UAE; 9 May 2024: Aramex (DFM: ARMX), a leading global provider of comprehensive logistics and transportation solutions, has announced a strategic partnership with Omniful, a pioneering provider of supply chain execution & planning technologies. This collaboration is set to revolutionize Aramex’s offerings with the integration of Omniful’s advanced Order Management System (OMS), which will cater […]