Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
LG ANNOUNCES FIRST-QUARTER 2024 FINANCIAL RESULTS
Company Pushes Boundaries With Innovative Business Models While Balancing Core Operations and Future Growth to Create New Opportunities Riyadh, April 28, 2024 — LG Electronics Inc. (LG) announced first-quarter 2024 consolidated revenue of KRW 21.09 trillion and operating profit of KRW 1.33 trillion. The company’s home appliance sector demonstrated global leadership, achieving record-breaking revenue and double-digit operating profit […]
ICIEC and QDB Join Forces in a Landmark Alliance to Boost Trade and Investment (Re)Takaful Solutions
Riyadh, KSA – The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a Shariah-based multilateral insurer and esteemed member of the Islamic Development Bank (IsDB) Group, is pleased to announce the signing of a Memorandum of Understanding (MoU) with the Qatar Development Bank (QDB). The signing took place on the sidelines of […]
SEREDO 2024 Kick-off Mid- May in Jeddah
Under the auspices of the Ministry of Municipal, Rural Affairs and Housing Jeddah– Preparations are under way for the successful launch of the second edition of the Saudi Real Estate Development and Ownership – SEREDO 2024 in Jeddah, following the success of the pilot exhibition held in 2023. A key event that focuses on the housing and […]
Social Development Bank Honored with Princess Sabika bint Ibrahim Al Khalifa Award for Support of Productive Families
Manama, 27 April 2024: The Social Development Bank (SDB) was recently honored with the Princess Sabika bint Ibrahim Al Khalifa Award for Encouraging Productive Families. This recognition came under the category of “Best Project Supporting Productive Families” through SDB’s “Tajsid” initiative. The award ceremony took place in the capital city of Bahrain, Manama, hosted by […]
World Economic Forum Convenes Special Meeting on Global Collaboration, Growth and Energy for Development
Riyadh, Saudi Arabia, 27 April 2024 – With geopolitical upheavals and complex economic challenges destabilizing a fractured world, the World Economic Forum Special Meeting on Global Collaboration, Growth and Energy for Development will convene 1,000 global leaders from 92 countries on 28-29 April, to support global dialogue and find actionable, collaborative and sustainable solutions to shared […]
Riyadh is Gearing Up for a Key World Economic Forum Gathering
RIYADH: The Saudi capital is buzzing with final preparations ahead of a crucial World Economic Forum gathering scheduled for April 28 and 29. The event will bring together heads of state alongside leading figures from both the public and private sectors. The conference aims to address pressing global economic, environmental, and humanitarian challenges. Participants will […]
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Deloitte Middle East announces 2024 Technology FAST 50 rankings
· 12 UAE companies and 5 Saudi companies feature in the Fast 50 ranking with Saudi based Salla claiming second spot in overall ranking · The average growth of ranked companies is 1906%, generating $3B in total annual revenues during 2022, showcasing the huge potential of the region’s tech sector Middle East – 25 April […]
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 23, 2024 – According to the GoDaddy 2024 Global Entrepreneurship Survey entrepreneurs in the Kingdom are well informed, have a meaningful purpose for becoming […]
Nine Solutions for Cities to Cut Carbon Emissions in Construction
New York, USA, 22 April 2024 – A report released today by the World Economic Forum’s Centre for Urban Transformation features best practices developed by pioneer cities that are reducing carbon emissions from urban development projects. As cities grow in population and importance, urban construction will continue to gather pace. It is estimated that the global floor area […]
Partanna Global Deploys First Carbon-Negative Concrete Blocks in the Gulf
Jeddah, Saudi Arabia, Monday 22 April 2024 – In a first for the Saudi construction industry, materials science company Partanna Global has partnered with Saudi Readymix Concrete Company (SRMCC) on the successful production of carbon-negative concrete blocks in the Gulf. The technology was deployed at SRMCC’s main facility in Jeddah, the largest producer of ready-mixed concrete in […]
Dynatrace Expands Go-to-Market Partnership with Google Cloud
Joint sales and marketing initiatives will accelerate the success of customers’ digital transformation WALTHAM, Mass., April 21, 2024 – Dynatrace (NYSE: DT), the leader in unified observability and security, announced an expanded go-to-market (GTM) partnership with Google Cloud. Together, the two companies will enable more customers worldwide to adopt the Dynatrace® platform on Google Cloud for AI-powered analytics and automation of their […]
Deloitte launches Kiyadat to advance GCC national talent into leadership roles
Middle East, 18 April 2024 – Deloitte Middle East announced the launch of Kiyadat, a center of excellence designed to empower national talent across the Gulf Cooperation Council (GCC) region. In Arabic, “Kiyadat” translates to “Leaders”, symbolizing the commitment to fostering national talent and paving their way towards leadership roles. Mutasem Dajani, CEO of Deloitte […]
New Murabba Development Company Showcases Commitment to Innovation and Sustainability at AACE Conference in Riyadh
Riyadh, 18 April, 2024: New Murabba Development Company, a visionary urban destination transforming downtown Riyadh, participated in the recent Association for the Advancement of Cost Engineering (AACE) Saudi Arabia Conference, held between April 17-18, 2024 in Riyadh’s Al Faisaliah Hotel, under the theme “Navigating the Future: Innovations in Project Control.” The conference provided a platform […]
Odoo extends Cloud hosting from Google’s Saudi Arabia
Data Center in Dammam Dubai, United Arab Emirates and Riyadh, Saudi Arabia – April 16, 2024 – Odoo, a leading provider of open-source integrated business software applications, has announced today its expanded localization efforts in the Middle Eastern market. In alignment with the region’s regulatory requirements, Odoo now offers a local data hosting solution for SaaS and Odoo.sh […]
DAR AL ARKAN EXTENDS COLLABORATION WITH ROSHN FOR A NEW PROJECT IN SEDRA
Riyadh, Saudi Arabia; April 16, 2024: Dar Al Arkan, a leading real estate developer in Saudi Arabia, has signed a sale and purchase agreement worth 215 million Saudi Riyals with ROSHN to embark on their second project within the prestigious Sedra community in northern Riyadh. Building on a successful collaboration with ROSHN, Dar Al Arkan […]
Episode Six Partners with Loop to Drive Financial Inclusion through Fintech-as-a-Service in the Kingdom of Saudi Arabia
Loop and Episode Six announce partnership to advance payments modernization Riyadh, April 16th 2024 – Episode Six (E6), a leading global provider of enterprise-grade payment processing and ledger infrastructure, has today announced a partnership with Loop, a major e-Money institution (EMI), to power its Fintech-as-a-Service offering in the Kingdom of Saudi Arabia (KSA). E6 will power Loop’s cards, wallets […]
Saudi Investment Recycling Company and SAP extend partnership with new deployment and an MoU exploring collaboration on sustainability solutions
SIRC and two subsidiaries implement SAP S/4HANA, Ariba, SuccessFactors and Analytics Cloud Photo caption: Sultan Saud Alsaif, Executive Director of Technology & Innovation, SIRC, and Dr Fahd Nawwab, Vice President, SAP Saudi Arabia, attended a ceremony to celebrate the successful deployment of several technology solutions and to sign an MoU extending the relationship between their companies. Riyadh, […]
Avaya ENGAGE® 2024 Announces Guest Speakers for its May 13-15 Conference at the Colorado Convention Center in Downtown Denver
Program Guest Speakers Include Thrive Global Founder and CEO Arianna Huffington, The Ohio State University Dean of Engineering Ayanna Howard, PhD, Governor of Colorado Jared Polis, and Constellation Research Founder and CEO R “Ray” Wang Emmy Award-winning TV Personality and Technology Expert Katie Linendoll Returns as Emcee MORRISTOWN, New Jersey – April 15, 2024 – Avaya, a global leader in customer […]
Beyond Oil: Saudi Aramco and Groq to Build Global AI “Nerve Center”
Saudi Aramco Digital and Groq are building the world’s largest AI inference data center in Dammam. Backed by a $1.5 billion commitment, the project leverages Groq’s LPU technology to power sovereign AI models like Allam and drive Saudi Arabia’s Vision 2030 digital transformation.
STC Bank launches in Beta supported by SAMA
Riyadh, Saudi Arabia – 4 April 2024: Today stc pay was given formal approval from the Saudi Central Bank (SAMA) to move to the next phase of its transformation journey into STC Bank. This beta launch is limited to preselected customers and is a preparation for a full public launch later in the year. This step […]
Gulf Business Machines appoints Bassam Rached as General Manager of Technology
Dubai, United Arab Emirates – April 03, 2024: Gulf Business Machines (GBM), an end-to-end digital solutions provider, today announced the appointment of Bassam Rached as General Manager of Technology. In his new capacity, Bassam will helm the strategic planning and implementation of technology initiatives aimed at catalyzing innovation and organizational growth. A seasoned technology leader, Bassam […]
GMG and VF Corporation extend partnership to expand footprint across MENA and SEA
GMG plans to further expand the store network of VF Corporation’s brands, including Vans®, The North Face®, and Timberland®in the Middle East and North Africa (MENA) and in South East Asia (SEA) Dubai, UAE, April 3, 2024: GMG, a global retail conglomerate, today announced the expansion of its well-established partnership with VF Corporation (NYSE: VFC), a global leader in branded lifestyle apparel, footwear, and accessories. Building […]