Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
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 […]
Ramadan online spend expected to rise across key sectors
Riyadh, KSA – April 02, 2024: Checkout.com, a leading global payments solution provider, has predicted that online shopping in Saudi Arabia over the month of Ramadan will continue to surge across many key retail and service categories, reflecting how the country’s digital payment ecosystem is gaining more trust while becoming more convenient for consumers. Based on […]
Mastercard and Women Choice expand partnership to further invest in the development of women entrepreneurs across Middle East and Africa
2 April 2024 – Riyadh, Saudi Arabia: Mastercard and Women Choice have expanded their partnership to launch two programs – ImpactHer and EmpowerHer – to support women entrepreneurs grow their business and create jobs across the Middle East and Africa. Women Choice – an international organization dedicated to advancing women’s personal and professional development – launched the […]
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UAE’s Gaming Revolution: Web3 sets the pace, is a $1 Billion Economic Boost coming?
Dubai, UAE – 1st April 2024: In the heart of the Middle East, the UAE is not just keeping pace with the global gaming scene – it’s defining it. With Saudi Arabia and Egypt as fellow visionaries, the UAE is at the forefront of Web3 gaming that’s turning heads worldwide. Undoubtedly the future of gaming, […]
The key factors that will drive Mobile Financial services’ growth
By: Pavan Ramkishan Bachwal, Acting Chief Commercial Officer (Financial Services) Telcos’ current situation is tricky. They face a market where traditional revenues are declining, and the market is uncertain. As such, any market that can generate additional revenue streams for operators is vital. Therefore, the mobile financial services (MFS) market is of central importance and […]
ZainTECH Awarded Microsoft Azure Expert Managed Service Provider (MSP) Status
[Riyadh, KSA – March 28, 2024] — ZainTECH, the integrated digital solution provider of Zain Group, has earned the Microsoft Azure Expert Managed Service Provider (MSP) status. This status is awarded to organizations that demonstrate exceptional capabilities in delivering comprehensive, end-to-end solutions on the Azure cloud platform. ZainTECH’s attainment of this status further solidifies its position as […]
SADAFCO Doubles its Dividend Despite Shortened Year, Signaling Financial Strength
28 March 2024, Jeddah, Saudi Arabia: Saudia Dairy and Food Stuff Company (SADAFCO), the leader in the UHT (long life) milk, ice cream and tomato paste in the Kingdom of Saudi Arabia, announced a significant boost to shareholder returns with a proposed doubling of dividends for the nine months ending December 31, 2023. This move underscores […]
e& enterprise and Daman pioneer digital transformation in Health Insurance with the launch of ‘Hayakom Digital Booth’
Dubai, 27th March 2024: e& enterprise and The National Health Insurance Company – Daman, part of PureHealth, the largest integrated healthcare platform in the Middle East, today unveiled the innovative Hyakum Digital Booth, a visionary concept designed to redefine health insurance accessibility and improve customer service in the United Arab Emirates. The ‘Hayakom Digital Booth’, a first […]
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De-Risking Multi-Cloud IT Environments
Spokesperson: Mohammad Wahba, Director, Systems Engineering – Middle East at Nutanix Modern day organizations are confronted with the challenge of transitioning from legacy IT systems to the new era of multi-cloud environments, that can completely transform the business and deliver competitive advantages, placing them in leadership positions. A multi-cloud strategy offers a range of valuable business benefits including flexibility, scalability, […]
Edamah and Badia Farms partner on innovative new agricultural project in Bahrain
Manama: Bahrain Real Estate Investment Company (Edamah), the real estate arm of the Kingdom’s sovereign wealth fund, Bahrain Mumtalakat Holding Company (Mumtalakat), announced a strategic partnership with Badia Farms, a leading controlled environment food producer, which will invest several million dollars in a new sustainable farm in the Kingdom of Bahrain. The initiative will enhance […]
Saudi Ministry of Investment Signs MoU with Global Tech Leader, Endava, to Accelerate Digital Advancement in the Kingdom
The over US$2billion market cap company is investing to further bolster its presence and services in Saudi Arabia as it empowers local enterprises with world-class tech consultancy and Implementation services Riyadh, Saudi Arabia – 26 March 2024 – In its ongoing effort to enable world-leading technology companies to establish thriving operations in Saudi Arabia, supporting digital […]
Carrier Showcased Cooling Solutions for Saudi Arabia Market in the BIG5 Construct Saudi
RIYADH, Saudi Arabia, March 18, 2024 — Carrier recently showcased its cooling solutions at the HVACR Expo Saudi, which was hosted alongside BIG5 Construct Saudi in Riyadh. This is the largest construction and building solutions exhibition in Saudi Arabia. Carrier is a part of Carrier Global Corporation (NYSE: CARR), global leader in intelligent climate and […]
Zoom and Avaya announce new strategic partnership to deliver enhanced collaboration experiences
Avaya selects Zoom‘s AI-powered collaboration platform, Zoom Workplace, to integrate with Avaya’s Communication and Collaboration Suite to help enterprises reimagine teamwork SAN JOSE, Calif., and MORRISTOWN, NJ, March 25, 2024 – Today, Zoom and Avaya announced a strategic partnership designed to deliver enhanced collaboration experiences to global enterprises. As part of the partnership, Avaya selected Zoom […]
Dynatrace Named a Leader in the 2024 GigaOm Radar Report for Cloud Observability Solutions
Company’s position as closest to the center of the GigaOm Radar reflects its industry-leading innovation and ability to deliver the highest value to customers WALTHAM, Mass., March 21, 2024 – Dynatrace (NYSE: DT), the leader in unified observability and security, today announced it has been named a “Leader” in the 2024 GigaOm Radar Report for Cloud Observability Solutions. The […]
eWTP Arabia Capital Portfolio Companies Strengthen Saudi Presence and Partnerships at LEAP 2024
Riyadh, Saudi Arabia – 21 March 2024 – eWTP Arabia Capital (eWTPA), a growth-stage investor headquartered in Riyadh and Asia Tech Partner of LEAP 2024, showcased its commitment to fostering innovation and partnership building at the recent event. Leveraging its position, eWTPA facilitated significant collaborations with the Saudi Ministry of Media and orchestrated strategic partnerships […]
Ericsson and Juniper research report: Mobile financial services critical for future MNO growth
Ericsson (NASDAQ: ERIC), in collaboration with Juniper Research, unveils the report “What Will Drive Mobile Financial Services’ Growth?”, providing profound insights into the dynamics of Mobile Financial Services (MFS) and transformative opportunities for Mobile Network Operators (MNOs) globally. The report consolidates insights from 46 senior decision-makers from Mobile Network Operators (MNOs) across 35 countries and projects […]
“Huawei Saudi” and Digital Government Authority (DGA) Announce Cooperation to Enhance Saudi Government App Experience
Alriyadh, 21 March 2024: Huawei Saudi Arabia and the Digital Government Authority (DGA) of Saudi Arabia announced a significant collaboration in the digital transformation and emerging technologies, to enhance the accessibility, elevate the digital content and user experience of government applications on Huawei devices in the Kingdom. This partnership between DGA and Huawei Saudi Arabia signifies […]
GBM Extends Strategic Partnership with Lenovo, through the addition of Lenovo’s Infrastructure as a Service (IaaS) Solution, TruScale
Dubai, United Arab Emirates – March 21, 2024: Gulf Business Machines (GBM), an end-to-end leading digital solutions provider, today announced the extension of its long-standing strategic partnership with Lenovo. The renewed expansion will include the sale and support of the groundbreaking Lenovo TruScale IaaS (infrastructure as a service) solution, throughout the GCC region. Building upon years […]
CASHIN KSA and Fils Join Forces to Accelerate Sustainability in Payment Solutions across Saudi Arabia
Dubai, UAE / Riyadh, KSA / London, UK | March 21st, 2024: CASHIN KSA, a prominent POS and digital payments fintech in the region in the Kingdom of Saudi Arabia, and Fils, a pioneering force in climate-positive transactions, empowering businesses of all sizes to embed climate positivity into transactions using their APIs, have forged a transformative partnership aimed at […]
GoDaddy Celebrates the Entrepreneurial Spirit of Mothers in Saudi Arabia this Mother’s Day
JEDDAH– As Mother’s Day approaches, GoDaddy, the largest services platform for entrepreneurs, is shining a spotlight on the remarkable resilience and achievements of women and mother entrepreneurs – mompreneurs, in the Kingdom. Through its commitment to providing essential tools and support, GoDaddy aims to empower mothers in business to succeed in the ever-evolving online landscape. Recent data […]