Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
GulfTek unveils State-of-the-Art Manufacturing Unit in Dammam, plans to invest additional USD 30 million in five years
Dammam, KSA, October 12, 2023: Gulftek (Gulf Technical Factory) an API certified oilfield equipment manufacturing and service facility, announced the grand inauguration of its cutting-edge manufacturing plant under Saudi Aramco In-Kingdom Total Value Add (IKTVA) program, in Dammam, Kingdom of Saudi Arabia. The plant was launched in presence of the Saudi Aramco and Ministry of Investment, […]
Canon Announces the Expansion of its Label Printing Portfolio with New LabelStream LS2000
Dubai, UAE, 12th October 2023 – Today, Canon announces a technology preview of the Canon LabelStream LS2000, a new 40m/min inkjet label press, at Canon Expo in Yokohama, Japan (19th – 20th October 2023). Designed for industrial-scale label printing, the LabelStream LS2000 is based on a new blend of innovative and proven Canon technologies. As Canon’s first water-based […]
Saudi Arabia’s business and public-sector elite gather in Riyadh for the inaugural ADL CEO Session, prompting the launch of a new and unique report
Riyadh, Saudi Arabia, 12 October 2023: Arthur D. Little (ADL) has hosted its inaugural CEO Session at the Ritz Carlton in Riyadh, with candid insights from prominent executives and public sector leaders forming the basis of a unique report: ‘Saudi Arabia: Uncharted Terrain, Unlimited Opportunity’. The invite-only event in Riyadh was a rare opportunity for decision makers from Saudi […]
AlSafi Danone Joins Forces with the Ministry of Industry and Mineral Resources to Cultivate Saudi Talent through the “Masar Wa’ed” Programme
10th October 2023, Riyadh, Kingdom of Saudi Arabia – AlSafi Danone proudly announces its collaboration with the Ministry of Industry and Mineral Resources through the esteemed “Masar Wa’ed” programme. This initiative, under the Patronage of the Custodian of the Two Holy Mosques, represents a concerted effort to support newly graduates with scholarships to gain practical […]
Start-ups from across the globe look to woo investors with transformational tech shifts at world’s largest start-up event in Dubai
Expand North Star 2023 accelerates global VC investment revival as deep tech game-changers choose Dubai as launch-pad for global growth Record number of Indian start-ups to converge at four-day event’s new iconic Dubai Harbour venue Dubai, UAE: 12 October 2023: India’s burgeoning entrepreneurial spirit and proliferation of next-gen deep tech talent will take centre-stage next […]
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Al Fardan Exchange Introduces Al Fardan Premium: Elevating Personalised Financial Solutions
Members can enjoy an exclusive 40% discount at the Al Fardan Jewellery boutique in Abu Dhabi Dubai, United Arab Emirates, 11th October 2023: With increased customer demand for a heightened level of personalised experiences, Al Fardan Exchange, the leading money transfer and currency exchange firm, licensed and regulated by the Central Bank of the United Arab Emirates […]
Commvault Appoints Industry Veteran Richard Gadd as Senior Vice President of EMEA and India
Gadd will focus on driving growth in the region; Brings 25 years of industry experience including a strong track record of success at Cohesity and Hitachi Vantara 11 October 2023 – Commvault (NASDAQ: CVLT), an enterprise data protection leader for today’s global businesses, has today announced the appointment of Richard Gadd as Senior Vice President of […]
Eastern Province Governor in Saudi Arabia Inaugurates Gulf Electricity Market Connection with Iraq Worth $300 Million Annually
Al Dammam, Saudi Arabia, 11 October 2023: His Royal Highness Prince Saud bin Naif bin Abdulaziz, the Governor of Saudi Arabia’s Eastern Province, inaugurated the Gulf Electricity Market Project’s connection platform with the Republic of Iraq on Tuesday, October 10, at the GCC Interconnection Authority (GCCIA) headquarters in Al Dammam city. In his address, His Royal […]
In Partnership With the Saudi Ministry of InvestmentGerman Leaders Wilo Officially Launch in Saudi Arabia
RIYADH, October 10th, 2023 – Wilo Group, a global German leader in advanced pump and system solutions, proudly announces its fortified presence in Saudi Arabia by inaugurating its regional headquarters and production facility, a strategic move aligned with Saudi Arabia’s blossoming economic landscape and ambitious Saudi Vision 2030. With over 150 years of unparalleled expertise in […]
Careem celebrates 10th anniversary and new office opening in the Kingdom of Saudi Arabia
Riyadh, Saudi Arabia – 11 October: Careem, the region’s leading multi-service platform, celebrates the opening of a new office and the 10th anniversary of its inception in the Kingdom of Saudi Arabia. The inauguration ceremony was attended by esteemed guests, including senior Saudi Government officials, Mudassir Sheikha, CEO and co-founder of Careem, and Bassel Al Nahlaoui, […]
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Saudi CMA issues final license to VCFC, the first international fintech business licensed to provide brokerage and trading services in Saudi Arabia
Riyadh, Saudi Arabia, October 10, 2023: eWTP Arabia Capital (eWTPA) is pleased to announce that Valuable Capital Financial Company (VCFC), an eWTPA portfolio company, has received final approval from the Capital Market Authority of Saudi Arabia (CMA) to conduct dealing, custody, and advisory activities in the Kingdom. This makes VCFC the first licensed international fintech […]
Nutanix to Support Saudi Arabia’s Vision 2030 Sustainability Agenda
RIYADH, KSA, 10TH October, 2023: Nutanix, a leader in hybrid multicloud computing, has reiterated its commitment to helping advance the sustainability objectives outlined in Saudi Vision 2030, which aims to overcome environmental challenges through measurable action and green initiatives. “Firstly, we would like to congratulate Saudi Arabia’s Leadership and Government on the Kingdom’s renewable plans and green initiatives […]
PIF Establishes “Tasaru Mobility Investments” to Enable the Development of Saudi Arabia’s Automotive and Mobility Ecosystem
Riyadh, KSA – 10 October 2023 RIYADH, 10 October 2023 – The Public Investment Fund (PIF) today announced the launch of the National Automotive and Mobility Investment Company (“Tasaru Mobility Investments” or the “Company”), an investment company focused on developing local supply chain capabilities for the automotive and mobility industry in Saudi Arabia. Tasaru Mobility Investments […]
FedEx Enhances Shipping Experience for E-tailers across the Middle East and North Africa
FedEx Ship Manager™ Now Includes Time Saving Features and Enhanced Integration with E-Commerce Platforms and Marketplaces Dubai, UAE, October 9, 2023 – FedEx Express, a subsidiary of FedEx Corp. (NYSE: FDX) and the world’s largest express transportation company, is enhancing the online shipping experience for its customers. The new automated e-commerce capability in FedEx Ship […]
TARABUT POWERS FLOOSS TO ENABLE FASTER LOAN APPROVALS
Regional-first via new launch of Income Verification product enables instant loans for FLOOSS consumers First and fastest digital loan service in Bahrain Manama, Bahrain – 9 October 2023: Tarabut, MENA’s leading open banking platform, has announced a new partnership with FLOOSS, Bahrain-based digital lending platform. FLOOSS is the first and fastest digital loan app in Bahrain […]
Cisco Announces Plan for New Data Centers in Saudi Arabia for Webex Collaboration Platform – The First in the Region
RIYADH, Saudi Arabia, Oct. 9, 2023 — Cisco today announced plans to establish data centers in the Kingdom of Saudi Arabia (KSA) to better serve customers using its collaboration platform, Webex. The data centers are scheduled to be operational in the second half of 2024. For his part, H.E. Vice Minister of Communications and Information Technology, Eng. Haytham AlOhali, […]
The UAE’s Zajel Logistics Expands Services with New Freight Forwarding Department
(9th of October, Dubai, UAE) Zajel, a leading name in the logistics industry, has taken a strategic step towards cementing its position as the premier logistics partner for global clients. The company has announced the establishment of its new Freight Forwarding Department, which underlines its commitment to delivering world-class logistics solutions to its clients, covering air, sea and […]
The Saudi National Bank and Mastercard announce the launch of UEFA Champions League cards
Riyadh, Saudi Arabia (8 October, 2023) – The Saudi National Bank (SNB), and Mastercard, the official sponsor of the UEFA Champions League, have partnered to launch the UEFA Champions League card portfolio, the first of its kind in the Kingdom, offering cashback credit card and prepaid card without annual fees. This new launch came in line with SNB’s commitment […]
The Governor of the Eastern Province in Saudi Arabia to Inaugurate the Platform for the Gulf Market Electricity Connection Project with Iraq on Tuesday (10 October 2023)
Al Dammam, Saudi Arabia, 8 October 2023: His Royal Highness Prince Saud bin Naif bin Abdulaziz, the Governor of the Eastern Province in the Kingdom of Saudi Arabia, will inaugurate on Tuesday (October 10, 2023) the platform of connecting the Gulf Electricity Market Project with the Republic of Iraq at the headquarters of the GCC Interconnection Authority […]
Thakher Development Company Receives the “Best Infrastructure Developer” Award at Saudi Building & Infrastructure & Awards 2023
Riyadh 8 October 2023 – Thakher Development Company, received the “Best Infrastructure Developer” award 2023 under the Real Estate category at the Saudi Building & Infrastructure Awards 2023 which took place in Riyadh, Kingdom of Saudi Arabia, and organized as part of the 2nd edition of Saudi Building & Infrastructure Summit 2023. During the ceremony Eng. Abdulaziz bin […]
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AlSafi Danone Joins Forces with the Ministry of Industry and Mineral Resources to Cultivate Saudi Talent through the “Masar Wa’ed” Programme
8th October 2023, Riyadh, Kingdom of Saudi Arabia – AlSafi Danone proudly announces its collaboration with the Ministry of Industry and Mineral Resources through the esteemed “Masar Wa’ed” programme. This initiative, under the Patronage of the Custodian of the Two Holy Mosques, represents a concerted effort to support newly graduates with scholarships to gain practical training in the real […]
Monsha’at and Leading Saudi Entrepreneurs Take Part in Global Entrepreneurship Congress 2023
Riyadh, Saudi Arabia, 7 October: A Saudi Arabian delegation comprising some of the nation’s leading entrepreneurs recently participated in the Global Entrepreneurship Congress 2023 (GEC23), led by Monsha’at, the Small and Medium Enterprises General Authority of the Kingdom of Saudi Arabia. Among Monsha’at’s objectives was to support the delegation of Saudi entrepreneurs, discuss opportunities with […]