Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
SVC celebrates with its partners Saudi Arabia’s achievement of 1st rank in VC funding across MENA
The Saudi Venture Capital Company (SVC) celebrated its 5th anniversary and the Kingdom’s achievement of 1st rank across MENA for the first time in terms of the amount of Venture Capital (VC) funding in 2023. The ceremony was held in the presence of SVC’s partners, including leadership of related government entities, investment fund managers, entrepreneurs, and […]
NEOM Opens New York Office As Base For Business Across The United States
New York, United States, February 6, 2024 – NEOM, the sustainable regional development taking shape in northwest Saudi Arabia, has opened its first U.S. office in New York City, one of the world’s foremost financial centers, which will serve as a base for NEOM’s business across the United States. NEOM’s latest international office at 50 Hudson […]
MENA witnesses 48 IPOs raising US$10.7 billion in 2023
Dubai, UAE – 5 February 2024: According to the EY MENA IPO Eye Q4 2023 report, MENA markets saw 48 initial public offerings (IPOs) in 2023, raising US$10.7b in total. Five listings, mainly in the energy and logistics sectors, contributed 58% towards the total IPO proceeds raised. During Q4 2023, 19 IPOs raised US$4.9b in proceeds. ADES […]
ACCIONA LEADS A PROJECT FOR THE EXTRACTION OF HIGH-VALUE ELEMENTS FROM SEAWATER BRINE
CIRCULAR SOLUTIONThe MINERALS project sets out to develop technologies for the selective extraction of high-value elements contained in the brine that arises from the desalination process, aligning the process with the principles of the circular economy. RIYADH, FEBRUARY 1st, 2024. As part of its commitment to sustainability and innovation, ACCIONA has launched the MINERALS project […]
SingleView awarded as “The Most Innovative Open Banking Solution Provider in Saudi Arabia” in 2023
SingleView, the pioneering fintech company based in Saudi Arabia, was honored as “The Most Innovative Open Banking Solution Provider in Saudi Arabia” at the 11th International Finance Ceremony held last Thursday in Dubai, UAE. This prestigious award acknowledges SingleView’s distinctive efforts in delivering Financial Technology solutions across various sectors, with a primary focus on Open […]
- Ad
Alshegrey Investment Group and SNB Capital launch Al-Ahli Al-Basateen Real Estate Fund worth SAR 1 billion• The fund to develop office and commercial projects in Al-Basateen District in Diriyah Province
Riyadh, February 04, 2024: SNB Capital Company, in collaboration with Al-Shegrey Investment Group, proudly announces the launch of Al-Ahli Al-Basateen Real Estate Fund with a value of 1 billion Saudi riyals. This fund aims to invest in and develop office and commercial projects in Al-Basateen District in Diriyah province, Riyadh, in response to the growing […]
stc Group to showcase advanced defense solutions and foster innovation at World Defense Show 2024
Riyadh, 3 February 2024, stc Group, the engine of digital transformation, is participating as a sponsor at the World Defense Show 2024, taking place from February 4 to 8, 2024 in Riyadh. Under the theme ‘Equipped for Tomorrow,’ the second edition of the World Defense Show will showcase the future of defense through innovation and emerging technologies […]
Aria Holding and the Government of Maharashtra (India) Sign MoU for US $ 240 million
• Aria Holding to invest over US $ 240 million to establish a state-of-the-art float glass plant in Maharashtra to bolster infrastructure and drive economic growth. • The MoU was signed by Mr. Suraj Thampi, Group Chief Executive Officer of Aria Holding, in the presence of the Chief Minister of Maharashtra, Mr. Eknath Shinde, and […]
HRH Crown Prince launches ‘Alat’ to Make Saudi Arabia a Global Center for Electronics and Advanced Industrials
Riyadh, Kingdom of Saudi Arabia, February 1st, 2024 — His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al-Saud, Crown Prince, Prime Minister, and Chairman of the Board of Directors of the Public Investment Fund (PIF), announced today the launch of “Alat”, a PIF Company, which will create a global sustainable technology manufacturing hub in Saudi […]
Saudia cements position as trailblazer, becoming Kingdom’s first airline customer to adopt RISE with SAP on Google Cloud
As part of wider transformation strategy, Saudi Arabia’s national flag carrier will partner with SAP to accelerate move to cloud, storing data on Google’s Dammam Cloud Region RIYADH, KSA — 31 January, 2024 — Saudia, the national flag carrier of Saudi Arabia, has become the first airline customer to adopt the newly launched RISE with SAP on Google Cloud […]
Most read in Economy & Business
- Saudi Businesses Expand Investment in Agentic AI for Enterprise Operations
- Bupa Arabia Concludes Bupa Padel 2026 Tournament in Riyadh
- iSolution Earns Great Place to Work Certification in Saudi Arabia and UAE
- Fortinet and Aramco Sign Agreement to Expand Industrial Cybersecurity in Saudi Arabia
- ELSEWEDY ELECTRIC PSP and Sinohydro Sign $2.2B Rabigh 2 IPP Expansion Contract
Imdaad Signs MoU with OMAINTEC to Drive Advancement of Engineering Sector
The new agreement aims to elevate the standards of the engineering sector by developing professional specialization for maintenance and reliability work. Dubai, 31 January 2024: Imdaad, a Dubai-based group of companies that provides integrated, sustainable Facilities Management (FM) services to enhance the operational efficiency of physical assets, has announced the signing of a Memorandum of Understanding (MoU) […]
Visa and Red Bull Formula One Teams Announce Global Partnership
● The partnership unveils a new team name and identity: Visa Cash App RB Formula One Team● Visa to become Red Bull F1 Teams first global partner with the Visa logo appearing on both cars● Visa and Cash App champion an F1 Academy team supporting equality in sport Riyadh, Kingdom of Saudi Arabia, 25 January […]
ENGIE Solutions Appoints Graham Easton as UAE General Manager
Dubai, UAE, January 29, 2024: ENGIE Solutions, a global leader in low-carbon energy and services, is pleased to announce the appointment of Graham Easton as the new General Manager for the UAE. With over 33 years of experience in operational and business development leadership, Easton brings a wealth of expertise to the role. In his new […]
ZATCA Issues Bonded Zones Rules in The Kingdom of Saudi Arabia
Riyadh, 26 January 2024 Zakat, Tax and Customs Authority (ZATCA) issued Bonded Zones Rules. These Rules outline the statutory provisions for licensing bonded zones and practicing the activities within these zones. In addition, the Rules specify the obligations of operators and ZATCA control and supervisory functions about the bonded zones. The rules include clarifying the […]
PwC Middle East announces alliance with human capital management platform Darwinbox
25 January 2024; Dubai, United Arab Emirates – PwC Middle East has announced a new alliance with Darwinbox, the fastest growing human capital management (HCM) platform, which will enable the firm to enhance its HR technology solutions offered to clients across the Middle East. The alliance builds on PwC’s technology offering, bringing human-led, tech-powered solutions to […]
PAYMOB AND MASTERCARD PARTNER TO ACCELERATE DIGITAL PAYMENT ACCEPTANCE IN MENA
Riyadh, Saudi Arabia, January 24, 2024 – Paymob, the leading financial services enabler in the Middle East, North Africa and Pakistan (MENA-P), has announced a partnership with Mastercard to accelerate digital payment acceptance across the MENA region. The strategic omnichannel partnership will leverage Paymob’s payments infrastructure and Mastercard’s payments technology to scale the adoption of low-cost solutions […]
ejada Wins Informatica’s 2023 Global Channel Partner
ejada Systems Company Ltd bagged two coveted titles at Informatica’s Global Partner Awards 2023. Not only did ejada scoop the prestigious Global Channel Partner of the Year award, but it also secured the EMEA Emerging Markets Channel Partner SVP of the Year title. Informatica and ejada have teamed up to provide AI-driven data management solutions, […]
European Technology ‘Made in Belgium’ Successfully Delivered at CES 2024 with strong Validation of High-End Solutions.
BRUSSELS/LAS VEGAS, Jan 24, 2024 – Belgian Tech companies reaped a rich harvest at CES 2024, the world’s most powerful tech event in the world. The 13 companies hosted by the Wallonia Export & Investment Agency at the Belgium Pavilion packed a punch with new contracts, strong sales leads, investment partnerships, distributor agreements and global […]
Moro Hub and ServiceNow Collaborate to Streamline Digital Transformation for Public and Private Enterprises in the UAE
This strategic collaboration aims to boost engagement and productivity across internal stakeholders, as well as extend cutting-edge services to public & private sector entities Dubai, UAE, 24 January 2024: Moro Hub, a subsidiary of Digital DEWA, the digital arm of Dubai Electricity and Water Authority (PJSC), announced today the signing of a Memorandum of Understanding (MoU) with ServiceNow (NYSE: […]
Immersive experiences are here to stayJavier Arias, ACCIONA Cultura ME Director
In a continually evolving world where technological possibilities seem endless, attracting the public’s attention has become a challenge. Faced with the saturation of traditional forms of participation, the transformative potential of immersive experiences has been adopted as a fundamental element in entertainment and even in consumption. Whether used as part of large-scale or more intimate […]
Nutanix Spearheads Innovation in Hybrid Multi-Cloud Cost Management
Organizations are swiftly moving towards hybrid cloud environments in an era where digital transformation is pivotal. Mohammad Wahba, the Director of Systems Engineering for the Middle East at Nutanix, highlights the criticality of navigating cost management in these complex setups. While hybrid clouds, combining private and public cloud infrastructures, are becoming the norm, they pose […]
PIF creates a new Electric 360 partnership with Formula E, Extreme E, and E1 powerboat racing to support the growth of electric motorsports globally
London, Monday, January 22, 2024 – The Public Investment Fund (PIF) today unveiled a multi-year partnership, Electric 360, with Formula E, Extreme E, and E1 to support the growth of electric motorsports and their role in advancing the future of electric mobility. The new partnership will draw together initiatives that underscore the power of electric motorsports […]