Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
Geared Up: FedEx Goes All-In for the Holiday Season
FedEx provides shoppers and shippers a range of enhanced solutions ensuring reliability, visibility, and convenience Dubai, UAE, December 6, 2022 – The festive holiday shopping season is already in full swing and FedEx Express (FedEx), a subsidiary of FedEx Corp. (NYSE: FDX) and the world’s largest transportation company, is going all-in to help shoppers and […]
To meet needs of customers by providing appropriate financing, Thakher Development signs cooperation Agreement with Bank Al-Bilad
Jeddah 5 December 2022 – Thakher Development, leading developer of Thakher Makkah Project’s infrastructure and master plan, has signed a cooperation agreement with Bank Al-Bilad. The agreement offers a host of innovative financing solutions as part of the shared efforts between Thakher and Al-Bilad to meet the needs and aspirations of customers by providing them with the best-in-class […]
stc & Oracle announce business partnership
Riyadh 30 Nov 2022: stc Group, a leading regional digital enabler and Oracle Corporation, multinational cloud and technology company have launched a partnership agreement enabling the two organizations to better serve both local and regional markets and support national digitalization objectives as part of KSA’s vision 2030. This announcement came after a visit by Oracle’s CEO […]
Majority of Middle East companies using technology to plug talent gaps as increased investment defies economic uncertainty
New findings from Rackspace Technology show how ongoing issues around recruiting and retaining technical staff mean organisations are increasingly reliant on technology to fill roles and drive efficiencies Dubai, Middle East, 29 November 2022 – In the face of hiring and skills issues, 77% of the Middle East organisations say they are finding ways for technology […]
Sustainability is an Important Consideration in E-Commerce Purchasing According to FedEx Research
The FedEx survey that focused on key markets across Asia showed similar trends to how MENA consumers prioritize substantiality in their e-commerce purchase decision Dubai, United Arab Emirates, November 28, 2022 – Recent e-commerce research commissioned in key markets across Asia by FedEx Express (FedEx), a subsidiary of FedEx Corp. (NYSE: FDX), and the world’s largest […]
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KAFD awarded by CIPS for achieving Procurement Excellence
Riyadh, Saudi Arabia, 27 November, 2022 – King Abdullah Financial District Development & Management Company (KAFD DMC) has been honoured with the prestigious Procurement Excellence programme by the Chartered Institute of Procurement & Supply (CIPS). PEP is a globally-recognised award presented to those organisations demonstrating excellence in their procurement and supply chain activities. The award drives […]
ROSHN launches the first phase of Al Arous, an urban community that brings a new way of living to the Kingdom’s West Coast
● ROSHN is intended to ease the path to homeownership for Saudi citizens● ALAROUS, the new community, brings ROSHN’s vision for better living to the Kingdom’s beautiful west coast RIYADH, 24 November 2022: ROSHN, the national real estate developer bringing new, integrated modes of living to the Kingdom, has launched the first phase of ALAROUS project […]
DHL Express Spearheads Retail Automation in the CEP Market with Launch of its First Digital Service Point in Dubai Digital Park Silicon Oasis
Dubai, UAE – 23 November 2022: DHL Express, the leading global express and logistics provider, has marked a breakthrough in retail automation in the Courier, Express & Parcel (CEP) Industry with the launch of its first digital service point in the UAE. Located at the Dubai Digital Park (DDP) in Dubai Silicon Oasis (DSO), the integrated […]
Spend management platform Qashio raises $10 million to accelerate fintech solutions for a cashless economy in Saudi Arabia
Riyadh, KSA, November 23 2022: Spend management fintech, Qashio, has raised $10 million in a seed round, with participation from strategic international and regional partners to accelerate expansion into the Kingdom of Saudi Arabia. The seed funding round is supported by global investors such as One Way Ventures (early investors in Brex), MITAA, Cadorna Ventures, as well as regional […]
Step Saudi is back in-person for 2022 at The Arena Riyadh
Step Saudi 2022 launches DTC Hub for rapidly growing consumer market (22 November Saudi Arabia) Step Saudi 2022, Saudi Arabia’s prominent tech & startup festival, will bring together a global audience of startups, investors, digital enthusiasts, brands, and government over a 2-day in-person event on 12 and 13 December at The Arena Riyadh. Direct-to-consumer brands […]
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EZDUBAI WELCOMES MUMZWORLD, STRENGTHENS DEVELOPMENT OF REGIONAL E-COMMERCE SECTOR
Dubai, 23 November 2022: EZDubai, the fully dedicated e-commerce free zone strategically located in the heart of Dubai South’s Logistics District, is welcoming Mumzworld, the largest online baby shop in the Middle East that will be expanding its operations. A signing ceremony to announce the expansion was attended by Mohsen Ahmad, CEO of the Logistics District […]
Why Inclusivity is imperative to a nation’s progress
By Zubin Karkaria, Founder & Chief Executive Officer, VFS Global The world is witnessing a game changer unravel in Saudi Arabia’s National Transformation Program (NTP) of Vision 2030, the action plan to incubate economic growth drivers from non-oil sectors. The global attention stems from two key differentiators anchoring Crown Prince and Prime Minister, His Royal […]
Finastra onboards Fragmos Chain’s blockchain platform for the digitalization of over-the-counter derivatives post-trade
Through blockchain technology, Finastra’s Treasury & Capital Markets customers can eliminate paper documents while reducing capital markets trading costs and risks Dubai, UAE – November 22, 2022 – Today Finastra announced a collaboration with Fragmos Chain, a blockchain platform which digitalizes interactions between financial institutions, to provide Finastra customers with out-of-the-box integration with Finastra Summit, its over-the-counter (OTC) derivatives market […]
Dynatrace Launches the First Observability Platform Hosted on Microsoft Azure in theUnited Arab Emirates
Abu Dhabi, United Arab Emirates, 22 November 2022: Software intelligence company Dynatrace (NYSE: DT) today announced the availability of the Dynatrace® platform on Microsoft Azure hosted in the United Arab Emirates (UAE), making it the first Azure-based observability and application security platform hosted in the region. Rising cloud complexity is creating challenges for many organizations in the UAE as […]
Azizi Developments signs deal with Dubai South to purchase 15 million sq. ft. of land
Azizi Developments is set to become the master developer of a massive, approximately dozen-billion-dirham mixed-use development with over 24 million square feet of GFA, featuring townhouses, villas, residences and more in Dubai South’s Golf District Dubai, United Arab Emirates, 22 November 2022: Azizi Developments, a leading private real estate developer in the UAE, signed a deal […]
ROSHN’s Landmark Development SEDRA Welcomes First Residents
· The national real estate developer passes a historic milestone as it hands customers the keys to their new homes ahead of schedule – becoming the first Saudi giga-project to deliver· SEDRA is revitalizing northern Riyadh with more than 30,000 homes in neighborhoods packed with amenities and attractive public spaces· ROSHN’s vision of a new […]
Bahri’s Chemicals and Logistics business units sign MoUs to strengthen cooperation with Luberef
Bahri business units to provide sustainable and efficient solutions to meet Luberef’s various logistics and transportation requirements Riyadh, November 21, 2022: Bahri, a global leader in logistics and transportation, recently announced that its business units Bahri Chemicals and Bahri Logistics have recently signed Memorandums of Understanding (MoUs) with Saudi Aramco Base Oil Company (Luberef). The agreements are aimed […]
Geidea launches training program to boost the role of women in fintech in Saudi Arabia
· Six-week virtual training course “GeideAct” is part of Geidea’s c commitment to accelerating learning and building an inclusive fintech sector · First GeideAct initiative starts in February 2023 with Certified Fintech Practitioner (CFP) qualification from The London Institute of Banking & Finance (LIBF) Riyadh, Saudi Arabia, 20 November 2022: Geidea, a leading fintech company in Saudi Arabia, is […]
Cedar Rose to Host Webinar on How Companies can Uncover Fraud & Remain Compliant Using Reliable Data for Onboarding in the GCC Region
With FinTech companies revolutionizing the delivery of financial services and accelerating their onboarding processes to just a few minutes, the pressure is now on traditional banks and the rest of the financial services sector to meet client expectations where onboarding is concerned. Cedar Rose will host a special webinar on Thursday 24 November at 11:00 GMT […]
SAP Set to Empower Business Users in Saudi Arabia to Innovate and Transform their Operations with New Low-Code Offering
RIYADH, KSA — November 17, 2022 —SAP SE (NYSE: SAP) announced the launch of SAP Build, a powerful new low-code offering to unleash the power of business users. SAP Build empowers SAP users with minimal technical expertise to create and augment enterprise applications, automate processes, and design business sites with drag-and-drop simplicity. Launched during SAP TechEd […]
Abu Dhabi Global Market and Rackspace Technology collaborate to expand and accelerate ADGM’s journey to cloud
Abu Dhabi, UAE – November 17 2022 – Abu Dhabi Global Market (ADGM), a leading international financial centre located in UAE’s capital emirate announced today a partnership with Rackspace Technology® (NASDAQ:RXT), to collaborate on a number of strategic technology initiatives. As a long standing global leading service provider in multicloud computing, technology advisory and managed services, […]
Food Tech Valley Partners with Tradeling to bolster UAE’s food ecosystem
Dubai, UAE – 17 November 2022: Food Tech Valley, which is being developed by wasl Asset Management Group, is a UAE-government-led initiative that was announced in 2021 by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, that seeks to triple the UAE’s food production and position the nation as a […]