Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
DIFC Launches First Global Family Business and Private Wealth Centre
DIFC is creating a hub for global and regional family-owned businesses, UHNWIs and Private Wealth· The initiative is in line with DIFC’s 2030 strategy objectives, which will enable DIFC to double in size and its economic contribution to Dubai’s GDP. The strategy also supports sustained economic growth and further differentiates Dubai as a global […]
MUFG Research: Contours of the GCC ESG ecosystem set to accelerate
The GCC set to become a market leader in the global energy transition by 2050 COP 27 and COP 28 in Egypt and the UAE to accelerate conversations around transition to clean energy in the Middle East, including hydrogen, solar and wind Favourable regional intrinsics translates into extremely low costs for renewable power, which in […]
Geidea Becomes Payment Service Provider for Saudi-based Online Grocery Delivery platform “NANA”
Partnership will facilitate the acceptance of digital payments through Geidea’s leading digital solutions Riyadh, Saudi Arabia, 08 August 2022: Geidea, a leading Fintech company in Saudi Arabia, has partnered with Nana Direct – a Saudi-based online grocery shopping platform – to enable the acceptance of digital payments for Nana delivery network in addition to providing customers with […]
SmartCrowd Secures CMA License To Expand Into Saudi Arabia
The award-winning digital real estate investment platform will soon be available in the Kingdom SmartCrowd Holdings, a regional pioneer in fractional real estate investments, has been granted a FinTech experimental license by the Saudi Capital Markets Authority (CMA). SmartCrowd is currently working on completing business requirements for the upcoming launch of its Real Estate Funds Distribution […]
Alkhair Capital cements its position as one of the top 10 financial institutions in Saudi Arabia with assets undermanagement worth over SAR 13 billion
Based on the Capital Market Institutions Report Assets under management reach SAR13.42 billion in Q1 2022, an increase of 34.6% compared to the same period last year Riyadh, Saudi Arabia; 7 August 2022: Alkhair Capital has strongly established itself in the top 10 out of 72 financial institutions in the Kingdom of Saudi Arabia in terms […]
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Ministry of Investment reports 49 closed deals worth at least $925 million in Q2 2022
· The 49 deals are expected to create about 2,000 new jobs for the Saudi economy · Q2 2022 saw closed investment deals in diverse sectors, including manufacturing, real estate, ICT, tourism, entertainment, sports and entrepreneurship · MISA’s Q2 2022 Investment Highlights report explores economic growth drivers, with a focus on the tourism sector and investment […]
Saudi Insurance Committee announces date for sixth edition of Saudi Insurance Symposium
Riyadh, Saudi Arabia – 07, August 2022: The Saudi General Insurance Committee has announced that the sixth Saudi Insurance Symposium — the largest gathering of Saudi, GCC and Middle East insurance professionals, experts, and companies — will take place from Wednesday 28 to Thursday 29 September 2022. Held under the patronage of His Excellency Dr. Fahd […]
The Entrepreneurial Nation launches ‘ScaleUp Digitize’ in partnership with Huawei to support digital transformation of SMEs
In line with UAE’s strategies to provide the catalytic environment to expedite entrepreneurial growth and promote the country’s global competitiveness Throughout the program, Huawei will share its expertise and best practices in leveraging digital solutions and smart data to drive SMEs’ business growth 15 participating SMEs will be selected for the foundational stage of the […]
Kyndryl Awarded Continuity and Resilience Provider of the Year in the Middle East
DUBAI, United Arab Emirates, 04 August 2022– Kyndryl (NYSE: KD), the world’s largest IT infrastructure services provider, today announced that it won the 2022 BCI Middle East Continuity and Resilience Provider (Service/Product) Award. The award recognizes the contributions of Kyndryl’s Security and Resiliency practice in the region and its leadership in the business continuity, risk and resilience space. “We are honored to […]
New Talkwalker report reveals young people on Twitter are most concerned by the cost of living
Talkwalker, in partnership with Twitter, analyzed over 16.2 million cost-of-living conversations, to reveal the impact it is having on global consumers. People on Twitter aged 25-34, saw the sharpest increase in cost of living conversations, highlighting their increased concerns about the crisis. Consumers are most anxious about the rising cost of gas and heating. Many […]
Most read in Economy & Business
- Saudi Businesses Expand Investment in Agentic AI for Enterprise Operations
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- 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
SABIC and INJAZ UAE partner to inspire students to tackle sustainability challenges in their communities.
Students in UAE will gain critical thinking and problem-solving skills for sustainable living through the Lights of Our Future initiative. [August 3rd , 2022] SABIC, a global leader in diversified chemicals based in Riyadh, Saudi Arabia (KSA), is partnering with INJAZ UAE and JA Worldwide, a leader in youth development, to engage students in learning opportunities that help them become community leaders […]
THE ELLINIKON EXPERIENCE CENTRE OPENS AS ONE OF EUROPE’S LARGEST URBAN REGENERATION PROJECTS IS HERALDED BY THE WORLD’S MOST STUNNING VISITOR CENTRE
he Ellinikon Experience Centre Offers Interactive Look at the Future of Sustainable and Smart Large-Scale Urban Development at The Ellinikon in Athens, Greece Lamda Development has announced the launch of The Ellinikon Experience Centre heralding The Ellinikon, among the largest, most ambitious urban regeneration projects in Europe and a new global model for comprehensive mixed-use urban experiences. […]
WebEngage raises $20 million in Series B; eyes IPO in three years
WebEngage, a full-stack retention operating system and one of the most resilient B2B SaaS startups, today announced that it raised $20 million in Series B led by Singularity Growth Opportunities Fund and SWC Global, with participation from existing investors India Quotient, Blume Ventures, and IAN Fund. August 03, 2022, Dubai, UAE: WebEngage, a full-stack retention […]
Nissan reports April-June progress for fiscal year 2022
・ Operating profit of 64.9 billion yen and net income of 47.1 billion yen reported in the first quarter ・ Significant increase in revenue per unit of key models as quality of sales continues to improve YOKOHAMA, Japan (August 1, 2022) – Nissan Motor Co., Ltd. announced the financial results for the three months ended June 30, 2022. In […]
LG ANNOUNCES SECOND-QUARTER 2022 FINANCIAL RESULTS
Highest Second-Quarter Revenue in Company’s History Reflects Sales Growth for Premium LG Home Appliances and Auto Parts Jeddah, August 1, 2022 — LG Electronics Inc. (LG) announced its highest-ever second- quarter revenues, reflecting strong sales for LG home appliances in key regions and the profitable growth of LG’s vehicle components business as the global automotive industry rebounds. […]
SADAFCO signs strategic agreement with Jeddah’s Social Responsibility Association
Jeddah, Saudi Arabia, 01 August, 2022: SADAFCO has signed a strategic agreement with Social Responsibility Association, the first licensed association specialized in CSR in the Makkah Province. The two organizations having successfully worked together in the past, 2022 is the year when the relationship will take a broader and more strategic approach. As the parent […]
TPV Technology announces a new partnership with Sariya to expand business opportunities in Saudi Arabia
Riyadh, Saudi Arabia, July 31st, 2022 – TPV Technology Gulf DMCC, manufacturers of Philips and AOC displays, have announced a new partnership with Saudi-based IT distributor Sariya Company LTD. They will extend business prospects in the Kingdom of Saudi Arabia for both the brands. The partnership will see Sariya Company Ltd carry a wide range of […]
Digital energy: sustainable ICT infrastructure from Huawei for intelligent carbon emission reduction
Shenzhen, July 28, 2022: Speaking on the first day of the Huawei Win-Win Innovation Week, David Wang, Executive Director of the Board and Chairman of the ICT Infrastructure Managing Board of Huawei, highlighted in his keynote the power of innovation and intelligent technology in supporting industry partners to reduce carbon emissions and adapt to the rapidly […]
3M appoints Head of Government Affairs for Saudi Arabia
Shrook Mansour Bin Sultan bolsters 3M’s senior leadership public sector expertise and supports policymakers across key regulatory matters Riyadh, Kingdom of Saudi Arabia; July 27, 2022: In line with its strategic business plans, 3M (NYSE: MMM) today announced the appointment of Shrook Mansour Bin Sultan as Head of Government Affairs in the Kingdom of Saudi […]
Prince Mohammed Bin Salman Nonprofit City announces new central zone, Al Mishraq
· Al Mishraq will be a thriving hub for residents, visitors, and workers.· The central zone has been designed to facilitate social interaction, encourage innovation and creativity, and foster young Saudi talent.· The first phase of Al Mishraq will develop 105,000 square meters of retail, residential, incubator, and office space. Riyadh, Saudi Arabia; July 27, 2022: […]
Tribal Credit reveals MENA companies’ spending priorities at different growth stages
· Corporate credit card transactions MENA enterprises in different phases of growth focus on digital advertising online through social media networks. Dubai/Cairo/Riyadh, July 27, 2022: Tribal Credit has highlighted local enterprises’ most significant spending categories based on corporate card spending data from small, medium, and emerging businesses tracked over the last year. As businesses develop throughout the […]
Mohammad Khalid appointed as Johnson Control’s Vice President and General Manager for Middle East and Africa
Dubai, UAE, 27 June 2022– Johnson Controls (NYSE: JCI), the global leader for smart, healthy and sustainable buildings, announced the appointment of Mr. Mohammad Khalid as the new Vice President and General Manager for Middle East and Africa (MEA). Mr. Khalid brings more than 25 years of experience in sales, operations and technology to further advance […]