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Atlas Turf Arabia Receives ITGAP Certification for Production of Platinum Te Paspalum

Global accreditation cements facility’s credentials as the leading supplier of turfgrasses for golf courses, sports pitches and landscaping projects in Saudi Arabia and the Gulf region 10th May, 2022 – Riyadh, Saudi Arabia:  Atlas Turf Arabia has become the first certified facility of its kind in the Gulf Region to receive International Turfgrass Genetic Assurance Program (ITGAP) certification for its production of Platinum TE™ Paspalum. ITGAP certification confirms that Atlas Turf Arabia is producing Platinum TE to a rigorous set of global guidelines, which protects against contamination during production. The turfgrass will be a valuable part of the supply chain required to meet the development goals of the Kingdom of Saudi Arabia’s Vision 2030, as well as for projects across the wider Gulf ......read more

Ogilvy EMEA Chairman Paul O'Donnell Announces Retirement, Ending Distinguished Four-Decade Career at Ogilvy

NEW YORK- MAY 5, 2022:  Ogilvy today announced that Paul O’Donnell, Chairman of Ogilvy EMEA, will be retiring after 37 years with the agency. Throughout his tenure, O’Donnell has held a range of leadership positions spanning clients, geographies, and businesses. “It has been an honour to have worked with thousands of Ogilvy colleagues and clients across the globe during my career. It has been a rich and fulfilling experience in which I have travelled the world and helped grow brands and businesses in just about every market you can imagine,” O’Donnell said. “The longevity of my career was due to two things: working with great people and managing to bring enough variety to my roles. Now, I’m proud to leave behind a highly skilled and experienced team that is driving the business ......read more

LG Announces First-Quarter 2022 Financial Results

Highest Quarterly Revenue in Company’s History Reflect Strong Demand for Premium LG Home Appliances and Auto Parts Dubai, April 29, 2022 — LG Electronics Inc. (LG) today announced first-quarter 2022 consolidated sales of KRW 21.11 trillion (USD 17.53 billion) – the highest quarterly revenue in company history. Operating profit of KRW 1.88 trillion (USD 1.56 billion) was positively impacted by royalty income, partially offset by a one-time workforce restructuring cost.   Compared with the first quarter a year ago, revenues grew by 18.5 percent and profitability soared by 6.4 percent, reflecting very strong demand for LG home appliances as consumers around the world continue their focus on healthier living, energy efficiency and home upgrades. The vehicle component business unit’s sales increased ......read more

Home Ownership Drive Spurs Growth of KSA Residential Sector in Q1 2022

JLL releases its Q1 2022 KSA Market Overview Year Report Riyadh, Saudi Arabia – 26 2022: Saudi Arabia’s residential sector saw an acceleration in the number of units completed in Q1 2022, helped by the government’s continued efforts to deliver housing which meets the needs and aspirations of its citizens.  The first quarter of the year saw the completion of 4,000 and 2,000 units in Riyadh and Jeddah respectively, partly driven by the Ministry of Housing’s various initiatives to increase home ownership in the Kingdom to 70% by 2030. Year-on-year, rents rose 5% in Jeddah and by 3% in Riyadh in Q1. On the same basis, sale prices in Riyadh rose by 5% and by 2% in Jeddah. “KSA’s real estate sector continued to show promising signs that it has turned a corner in the first quarter of 2022, ......read more

[Earth Day with LG] LG Recognized as Environmental Leader

LG’s Strong Climate Action Efforts and Smart Home Technology Underscored by Dow Jones Sustainability Index and The Global 100 JEDDAH, 24 April 2022 – Thinking of going green in time for Earth Day this year? Smart home technology can make your sustainable journey that much easier, helping you to save electricity and water consumption and shrinking your household’s energy footprint. LG Electronics (LG) has just recently been named to the Dow Jones Sustainability World Index, which comprises global sustainability leaders as identified by S&P Global through the Corporate Sustainability Assessment. LG also has been recognized by the Corporate Knights as one of the 100 most sustainable corporations in the world. As LG celebrates on Earth Day, you are invited to also help leave a green mark. Which is why, going ......read more

Samsung Partners with Zamil Air Conditioners at the Big 5 Saudi

Riyadh, KSA – 25 April 2022 – Samsung Electronics Saudi Co. Ltd., in partnership with Zamil Air Conditioners, participated in the Big 5 Saudi exhibition, inaugurated by H.E. Eng. Osama bin Abdulaziz Al-Zamil, Deputy Minister of Industry and Mineral Resources in the Kingdom of Saudi Arabia. (SAMSUNG | ZAMIL) has launched its latest edition of Variable Flow Conditioning (VRF) (DVM S2), thanks to its advanced technology, with a wide range of sizes and efficient cooling capabilities. Suitable for high-rise apartment complexes and small commercial buildings, the (VRF) (DVM S2) system is a unique solution for buildings that require high cooling efficiency, total control and installation flexibility. Moreover, the new systems are characterized by their flexible design, maximum comfort, and superior performance that helps ......read more

YORK's District Cooling Solutions Provide Fresh Air to the Holy Mosque's Pilgrims

With crowds returning to normal in the Holy Mosque in Makkah during Ramadan after the lifting of the COVID-19 precautionary measures, and with soaring temperatures, it is essential that all areas of the Holy Mosque are equipped with fresh cool air and are well ventilated at all times to maintain the health and safety of the millions of pilgrims that are coming from all over the Kingdom and the world. For this purpose, Al Salem Johnson Controls (YORK), a leading provider of integrated solutions that incorporate HVAC equipment, fire and security systems, building management systems and controls, is implementing its district cooling solutions — one of the most efficient cooling solutions — for the Holy Mosque, perfectly suitable for a range of operating conditions. District cooling is one of the most cost-effective and ......read more

79% of People in Saudi Arabia Believe Bots Will Succeed Where Humans Have Failed with Corporate Sustainability

• Global study finds 97% of people believe society has not made enough progress on sustainability and social efforts  • 85% of people in Saudi Arabia are frustrated and fed up with the lack of progress made by businesses • 97% of Saudi business leaders believe human bias and emotions hurt corporate sustainability efforts   Riyadh, Saudi Arabia — April 21, 2022 – People around the world are demanding more progress on sustainability and social efforts and are looking to businesses to step up, according to a new study by Oracle and Pamela Rucker, CIO Advisor and Instructor for Harvard Professional Development. The study of more than 11,000 consumers and business leaders across 15 countries including Saudi Arabia found that people are fed up with the lack of progress society is making towards ......read more

A Third of Saudi and UAE Employees think they have put Highly Sensitive Data at Risk in the Past 12 Months

Today, Western Digital, a leader in data infrastructure, releases data exploring the attitudes and behaviours of over 634 employees (data users) and employers (data managers) around highly sensitive data in the Middle East. Research found that 77 per cent of data managers believe employee behaviour is a bigger threat to their highly sensitive data than external hackers and that almost a third (32 per cent) of data security incidents originates with employees.    In summer 2021, Western Digital spoke to 210 managers and 424 data users in Saudi Arabia and the UAE. Respondents work in media and entertainment, the public sector, legal professional services, healthcare and financial services, and in business ranging in size from small (10-99 employees) to enterprise (5000+ employees).   Data uses are aware of the ......read more

Jeddah Marriott Hotel Madinah Road appoint Muntaser Allaf as GM

The new premium Jeddah hotel welcomes Muntaser Allaf, with 26 years of hospitality experience April 12, 2022 – Jeddah, KSA: Muntaser Allaf has been appointed General Manager of the recently opened Jeddah Marriott Hotel Madinah Road in Saudi Arabia. The highly respected hospitality professional will head up the team with more than 26 years of experience in hotel operations, including strategic planning and leadership.  Muntaser began his career with the Detroit Marriott at the Renaissance Center in 1996, ahead of more than two decades spent progressing with a number of Marriott brands. His dynamic career journey took him from North America to the Middle East, where he enriched his skills through four openings in Kuwait, and KSA.  With multi-brand experience, as well as pre-opening and property acquisition, ......read more

Ykone Continues Its Expansion in the Middle East with the Opening of Two New Offices in Riyad and Abu Dhabi

Founder's Memorial YKONE, the leading international influencer marketing agency in the fields of luxury and beauty, continues to expand in the Middle East. Present in Dubai since 2016, the agency announces the opening of two new offices in the region’s most dynamic cities, Riyad and Abu Dhabi. Already established in Dubai for the past six years, YKONE has developed a regional hub through which to work alongside brands on influence campaigns and content creation. In the Middle East, YKONE already counts among its clients Procter & Gamble, L’Oréal, Coty, Canon and Marriott. At the heart of Dubai Design District, its local office will continue to collaborate with fashion, beauty and lifestyle brands.   Qasr Al Hosn This expansion is strategic as the Middle East is a true social media powerhouse supported by ......read more

Webex by Cisco Reimagines Hybrid Work Experiences

• New innovations help personalize the hybrid work experience for employees and customers • Industry-first partnership with Ford to create the ultimate mobile office • Extending Webex’s Embedded App Framework to Webex devices, mobile phones, and tablets    Al Riyadh, Saudi Arabia, April 6, 2022 – Cisco today unveiled new hybrid work solutions in Webex that empower companies to put people first.   Reimagined workspaces: Hybrid work requires organizations to transform workspaces to deliver an amazing, consistent experience – whether in-office, at home or on the go. • An industry-first partnership with Ford looks to extend Webex Meetings to vehicles, serving as the ultimate mobile office. Click here for video: The future of work on the go | Ford & ......read more

JAGGAER Opens Office in Riyadh to Support Saudi 2030 Vision

• JAGGAER has officially opened its new office in Riyadh to support businesses in the country with the challenges surrounding supply chain disruptions, material scarcity and the global talent shortage • The company to capitalise on the appetite in Saudi for new IT and technology, with the market estimated to be worth more than US$33 billion in 2021   JAGGAER has today announced the expansion of its regional foot-print with the opening of the company’s new office in Riyadh.     Hany Mosbeh, General Manager, JAGGAER Arabia   As part of JAGGAER’s growth within the Middle East, the new office in the Saudi Arabian capital will have a team responsible for supporting customers and developing new business within the Kingdom. In addition, JAGGAER has also invested significantly in ......read more

BinDawood Holding reports Q4 and FY 2021 Financial Results

Jeddah, Saudi Arabia; 30 March 2022 – BinDawood Holding Co. (Tadawul: 4161 and the “Company”), one of the leading grocery retail operators of hypermarkets and supermarkets in the Kingdom of Saudi Arabia (‘KSA’), today reported its fourth quarter and full year 2021 financial results. Financial Highlights (SAR Millions)   FY2021 FY2020 % Up / (Down)   FY2019 Revenue 4,382.2 5,156.5 -15.0% 4,843.8 Gross Profit 1,438.9 1,671.9 -13.9% 1,644.5 Net ......read more

Cisco Celebrates 25 Years of Innovation in Saudi Arabia

Riyadh, Saudi Arabia – 29 March 2022: Global technology leader Cisco is celebrating the 25th anniversary of its establishment in the Kingdom of Saudi Arabia this month. During this time, Cisco has become a key contributor to the Kingdom’s innovation journey, through initiatives such as the Country Digital Acceleration (CDA) program. Cisco CDA works through an ecosystem of partners and contributes to digital transformation initiatives in national priority sectors including energy, healthcare, education and smart and sustainable cities. Through CDA, Cisco helped local healthcare providers implement tele-consultation services for patients in remote areas, created hybrid learning environments and used Wi-Fi 6 and the latest networking solutions to help digitize university campuses.  To support the development of ......read more

Saudi Tadawul Group Announces its Intention to Launch a Bundle of Enhancements to Develop the Post Trade Infrastructure

• The bundle of enhancements across Saudi Tadawul Group’s subsidiaries will support the continuous development of the Saudi capital market into a technologically advanced, diverse, and integrated capital market  • The enhancements are the largest in the history of the Saudi capital market and intend to provide investors with increased investment opportunities and access to a diverse range of financial instruments and new products • The introduction of these enhancements come as part of Saudi Tadawul Group subsidiaries’ ongoing efforts to reduce systemic risks and enhance market efficiency that in turn reinforce its position as a globally attractive investment destination • These enhancements come as part of ongoing efforts to develop the Saudi capital market’s infrastructure to attract ......read more

The First Saudi Capital Market Forum Concludes in Riyadh

• Forum was held under the patronage of HE. Mohammed El-Kuwaiz, Chairman of the Capital Market Authority and saw over 1500 attendees • The Saudi Tadawul Group and its subsidiaries make key announcements • The winners of the Saudi Capital Market Awards 2021 are announced • Five workshops were held on topics related to the capital markets industry   Riyadh - 24, March 2022: The Saudi Tadawul Group concludes the inaugural Saudi Capital Market Forum 2022, held under the patronage of HE. Mohammed El-Kuwaiz, the Chairman of the Capital Market Authority. During the forum, the Saudi Tadawul Group announced its intention to launch a bundle of enhancements to develop the post trade infrastructure, the largest in the history of the Saudi capital market.     The forum brought together ......read more

Cisco Study Reveals 88 Percent of Respondents in Saudi Arabia Consider Privacy a Business Imperative

News Summary: • Cisco’s 2022 Data Privacy Benchmark Study surveyed more than 4,900 professionals across 27 geographies. It finds that 88 percent of respondents in KSA consider privacy a business imperative. • Organizations continue to invest in privacy and estimate return on investment at nearly 1.8 times spending on average.  • Privacy legislation in the Kingdom has been well received with 89 percent viewing privacy as integral to an organizations’ culture.  • Customers want more transparency and are concerned about the use of data in Artificial Intelligence (AI) and automated decision-making.    Riyadh, KSA – March 22, 2022 – Privacy has become mission-critical to organizations in the Kingdom of Saudi Arabia (KSA), according to a new report published by ......read more

Bank AlJazira and JCB Partner to Enable JCB Acceptance in KSA

March 12, 2022: Bank AlJazira has partnered with JCB International Co., Ltd. to launch JCB acceptance throughout its POS and ATM network in the Kingdom of Saudi Arabia (KSA). The partnership complements the role of Saudi Payments to enhance the financial landscape in the kingdom and enable international payment schemes to operate in the KSA market.   Yuichiro Kadowaki, Director and CEO of JCB Middle East LLC, and Naif Al Abdulkareem, CEO of Bank AlJazira, formalizing the JCB-AlJazira partnership in a signing ceremony at Bank AlJazira in Riyadh. [Photo credit: Bank AlJazira]   JCB is a major global payment brand and a leading payment card issuer and acquirer in Japan, and JCB Cards are used by more than 140 million cardholders and accepted at about 37 million locations globally. This partnership will enable Bank ......read more

Amlak Finance Announces 2021 Full-Year Financial Results

• Amlak FY21 net group profit stands at AED 1.06 billion and total assets stand at AED 4 billion • The Company successfully concluded the settlement of the arbitration with a net value of approximately AED 875 million  • Debt settlement arrangements yielded AED 465 million gain and contributed in total debt reduction of AED 1,139 million (including Mudaraba Instrument of AED 235 million).   Dubai, UAE: 12 March 2022: Amlak Finance PJSC today announced its full-year financial results for the year ended December 31, 2021. The company focused on prudently managing its UAE operations and balance sheet.    Amlak reported a net profit of AED 1.06 billion for the year ended 31 December 2021 as compared to net loss of AED 438 million for the year ended 31 December ......read more

Bank AlJazira and JCB agree to enable JCB Aceptance in the Kingdom of Saudi Arabia

Kingdom of Saudi Arabia - Mar 10, 2022:  Bank AlJazira has partnered with JCB International Co., Ltd. to launch JCB acceptance through its POS and ATM network devices deployed in the Kingdom of Saudi Arabia (KSA). A partnership that complements the role played by Saudi Payments role to enhance the payments landscape in the kingdom through the enablement of international payment schemes to operate in KSA market. JCB is a major global payment brand and a leading payment card issuer and acquirer in Japan, and JCB Cards are used by more than 140 million cardholders and accepted at about 37 million locations globally. This partnership will enable Bank AlJazira to accept JCB Cards across their network of POS terminals and ATM terminals deployed throughout the Kingdom and also provide greater convenience for JCB's growing ......read more

Cisco and Sultan Bin Abdulaziz Humanitarian City Collaborate to Accelerate Digital Transformation in Healthcare

Riyadh, Saudi Arabia, 09 March 2022: Cisco Saudi Arabia Limited (Cisco) and Sultan Bin Abdulaziz Humanitarian City (SBAHC) signed a Memorandum of Understanding (MoU). The aim of the MoU is to develop a cooperation in field of digital transformation and explore ways to accelerate digital health services to patients, as part of SBAHC’s continuous efforts to contribute to the goals of Saudi Vision 2030 and creating a vibrant society. Sultan Bin Abdulaziz Humanitarian City (SBAHC) is a leading non-profitable and worldwide healthcare institution providing specialized rehabilitation, surgical and medical services. SBAHC had served more than one million patients over the past years and developed the skill and know how that had made this institution accredited by the most prestigious and high-quality international accrediting ......read more

Wipro Appoints Turki Bin Nader as General Manager and Country Head, Kingdom of Saudi Arabia

Riyadh, Saudi Arabia – March 8, 2022: Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting and business process services company, today announced the appointment of Turki Bin Nader as General Manager and Country Head for the Kingdom of Saudi Arabia (KSA), one of Wipro’s key focus markets in the Middle East region.   Turki will focus on Wipro’s vision for business growth, revenue expansion, client and influencer relationships, talent development and brand building in the region. He will also strengthen Wipro’s presence across the key industry sectors in KSA through strategic transformational engagements.   Turki is an industry veteran with over two decades of experience in technology-led market development initiatives across various industry ......read more

GulfCoin Cryptocurrency to Provide Digital Services and Financial Inclusion to the Masses

*The Countdown to Presale Started and The Initial Coin Offering is Scheduled for March 15 GulfCoin Cryptocurrency to Provide Digital Services and Financial Inclusion to the Masses* A new crypto project "GULF" is rising to empower the public to become part of the digital transformation and adopt digital services. The GULF project is launching GulfCoin: an electronic cryptocurrency developed by a team of professional developers and programmers from the Arab world, Europe, and the Far East. GulfCoin's initial coin offering "ICO" is scheduled to start next March 15th. The GulfCoin cryptocurrency initiative aims to serve the masses, especially those who are financially marginalized. It is about enhancing digital transformation and securing digital financial services to bring the digital revolution and ......read more

$500bn NEOM Tops Wish-List for Saudi Home buyers

• 41% find it the most attractive Giga project in the Kingdom to buy a home • Those in Damam (44%) find NEOM the most appealing Giga project • 36% of first time-buyers saving to buy believe NEOM is the best location for their first home   Riyadh/Jeddah | 23rd February 2022:  NEOM, Saudi Arabia’s US$ 500 billion super-city, which aims to be the world’s most innovative, sustainable and technologically advanced when it completes has been named as the most preferred location to buy a home by the Kingdom’s homeowners, first-time buyers and HNWI, according to Knight Frank’s annual 2022 Saudi Residential Survey - https://www.knightfrank.ae/saudi-arabia-residential-survey carried out in partnership with YouGov.    The global property consultant’s annual ......read more

Samsung and Zamil Enter Into a Strategic Partnership to Create a New Era of Climate Solutions in Saudi Arabia

• Under the theme “a new horizon for an innovative world”, Zamil will be Samsung’s exclusive distributer of DVM (VRF Solutions) in the Kingdom of Saudi Arabia   Riyadh, Saudi Arabia – February 18, 2022 - Samsung Electronics Saudi Co. Ltd. announced a strategic partnership with Zamil Air-Conditioners Co. focusing on climate solutions using VRF technology. This technology provides powerful performance and high energy efficiency while saving costs and space for consumers. The partnership aims to provide advanced climate technology and combines Samsung’s global expertise with Zamil’s local proficiency to provide the Saudi market with the best user experience. This collaboration will also play a major role in improving the quality of HVAC technology provided in the ......read more

The Cultural Development Fund Signs Memorandum of Understanding with Tadawul

February 15, 2022:  The Cultural Development Fund has signed a memorandum of understanding (MoU) with Saudi Exchange with the aim of advancing the cultural sector, promoting local art and content, bolstering innovation and production, and fostering national talent. These goals fall under the Kingdom’s commitment to enable the growth of cultural entities and projects. His Excellency Mr. Mohammed bin Abdulrahman Bin Dayel, Chief Executive Officer of the Cultural Development Fund and Mr. Mohammad Al Rumaih, Chief Executive Officer of the Saudi Exchange signed the MoU. The partnership focuses on raising awareness on the importance of sustainability and reinvigorates the commitment of companies listed on the Saudi Exchange regarding social responsibilities and related policies and practices. The MoU also highlights the ......read more

VFS Global Launches Passport Renewal Services for Sri Lankan Residents in the Kingdom of Saudi Arabia

• Service offered from 13 locations across the Kingdom  • First Sri Lanka Passport Application Centre inaugurated on 06 February 2022 in Riyadh • Customer can submit passport renewal application and/or collect renewed passports   The Embassy of Sri Lanka in the Kingdom of Saudi Arabia (KSA) has partnered with VFS Global to provide efficient passport renewal services to a vast population of Sri Lankan nationals living in the Kingdom. Serving as an alternative platform, VFS Global passport renewal services allow customers to submit a passport renewal application and/or collect the renewed passport from 13 locations across the Kingdom. This service is in addition to the service currently offered by the Sri Lanka Embassy in Riyadh.   The first VFS Global Sri Lanka Passport Application Centre ......read more

100,000 Registered Attendees see LEAP22 Leapfrog into First Place in International Technology Events

• 7 start-ups share US$1 million prize at the Rocket Fuel Start-up Competition • Regional start-ups and funds attract US$266 million in new investment   Friday 5 February 2022 – Riyadh, Saudi Arabia: The inaugural edition of LEAP has set new records for a debut technology event, attracting over 100,000 registered attendees from more than 80 countries. Over 700 exhibitors including the world’s leading technology companies and over 1,500 of the most innovative start-ups, along with more than 500 international speakers joined LEAP22, which concluded yesterday in Riyadh, making it the largest ever first edition for a technology event.   LEAP22 saw more than US$6.4 billion of investments and new technology initiatives announced, with US$1 million in prizes awarded to the winners of the Rocket ......read more

Ericsson Launches KSA 5G Together Apart Hackathon to boost innovation in line with Saudi Vision 2030

In collaboration with the Ministry of Communications and Information Technology, Ericsson launches KSA 5G Together Apart Hackathon to boost innovation in line with Saudi Vision 2030     • The KSA 5G Together Apart hackathon comprises a competition and thought-leadership panels to inspire participants and wider Saudi society on the importance of innovation to achieve national goals • The hackathon will focus on the three core pillars of Saudi Vision 2030; a Vibrant Society, a Thriving Economy and an Ambitious Nation   In collaboration with the Ministry of Communications and Information Technology, Ericsson announces the launch of the KSA 5G Together Apart Hackathon in the Kingdom of Saudi Arabia.   The hackathon consists of two engagements: inspirational panel discussions and the ......read more

‘Ignite' to Uplift Saudi Digital Content Creation and Media Production with US$1.1 Billion of Investments

• US$1.1 billion Ignite plan will make Saudi Arabia a center of digital content creation and production • Saudi Arabia launches WiFi 6E, ranks first worldwide in WiFi spectrum availability • Trend Micro announces local data lake and opens its Riyadh HQ   Wednesday 2 February 2022 – Riyadh, Saudi Arabia: Saudi Arabia today announced Ignite, a new program for digital content creation and production; new investments and support for next generation connectivity and communications infrastructure; and a new partnership that will see Trend Micro open its regional headquarters in Riyadh. The latest round of announcements was made on day two of LEAP22, the global technology platform taking place in Riyadh. The new program and investments are all part of Saudi Arabia’s plans to accelerate its digital ......read more

Saudi Arabia Unveils more than US$6.4 Billion in Technology and Startup Investment at LEAP22

• Saudi Aramco Ventures launches US$1 billion Prosperity7 fund for transformative start-ups  • STC to invest US$1 billion in MENA HUB to create regional center for cloud and digital services • NEOM Tech & Digital Co. launches groundbreaking XVRS cognitive metaverse and M3LD data management platform as part of a US$1 billion investment • J&T, eWTP Arabia and its partners invest up to US$2 billion into smart logistics hub in the Kingdom over the next 10 years • The Garage – KACST unveils Start-up District to grow local, regional and international disruptors • US$1.4 billion to be announced in entrepreneurship, start-ups VCs and funds to support digital content   2, February 2022 – Riyadh, Saudi Arabia: Saudi Arabia announced today more than US$6.4 billion in ......read more

Wa'ed Increases Ticket Size to SAR 75 Million, Expands Sector Focus

● Aramco’s entrepreneurship arm has provided SAR 409 million ($109.9 million) in funding since 2011 ● Focus for 2022 will be on Sustainability, Manufacturing, Social, Digital, and Industrial sectors   February 02, 2022:   Wa’ed, the entrepreneurship arm of Aramco, has increased its ticket size to SAR 75 million ($20 million), and laid a strategic course to invest in five core areas, including Sustainability, Manufacturing, Social, Digital, and Industrial, sectors. Offering various entrepreneurial initiatives, the Dhahran-based center plans to utilize its new ticket size to target later stage funding rounds, widening its local investment scope and further capitalizing on its current success.   “2021 signaled a transformational year for Wa’ed. Our continuous ......read more

Logitech to Highlight Transformative Power of Video Collaboration at LEAP

Logitech will demonstrate the power of video collaboration to transform sectors including education and medicine in Saudi Arabia at LEAP          Riyadh, Saudi Arabia - 27 January 2022:   Logitech is set to showcase a range of high calibre video collaboration solutions at LEAP, the major technology show taking place in Saudi Arabia on February 1-3 at its booth in Hall 3, G30. Logitech will demonstrate its technology and show how video collaboration solutions can support hybrid working models, and transform sectors including education and healthcare, driving customer and staff satisfaction, and helping organizations foster diversity in the workplace. Logitech will demonstrate its latest innovations including Rally Bar, a portfolio of next generation video conferencing solutions for small, ......read more

Mastercard Installments BNPL Program gives Consumers in the UAE and Saudi Arabia more Payment Choices Wherever they Shop

• New Buy Now, Pay Later (BNPL) program gives consumers a flexible, ubiquitous way to pay online and in-store through equal, interest-free installments – an additional choice to debit, credit or prepaid cards • Mastercard Installments – set to go live this year – will give banks, lenders, fintech companies and wallets the ability to offer BNPL experiences at merchants  • Seamless integration into Mastercard’s trusted network enables merchants to quickly offer secure BNPL solutions backed by the security and peace of mind that comes with Mastercard • Mastercard Installments offers comprehensive consumer protection with respect to responsible data use and fee transparency • Mastercard to work with new, local players including Abu Dhabi Commercial Bank (ADCB), Network ......read more

New Financial Regulations in Formula E will Underpin Long Term Development of the Sport

•         New financial regulations approved yesterday by the FIA World Motor Sport Council come into force on 1 October 2022 for Season 9 of the ABB FIA Formula E World Championship •         Ahead of the 2022 double-header season opener in Diriyah, KSA next month, two sets of financial regulations announced by the FIA to monitor and control spending levels of competitors: one for Teams and one for Manufacturers •         New regulatory framework will enhance long term financial sustainability of Formula E, supporting retention of current participants and attracting investment in the Championship from new manufacturers, teams, investors and commercial partners •         Competitive balance, sporting integrity and ......read more

Saudi Medical Student to Receive LG Electronics' Righteous Person Award

The Award Recognizes The Student for Providing Life Saving Medical Treatment in a Hit and run incident  Riyadh, 14 December, 2021 – A medical student has been praised for his heroism after saving another man’s life, following a near fatal incident. Saudi national, Faisal Abdullah Mohammed Al-Ghamdi, is being recognized for his quick thinking and using his medical background to properly assist a distressed individual.  Faisal was returning from a vaccination center where he volunteered when he discovered people trying to help a man who had sustained a serious injury following a hit and run. Faisal used his medical experience to correctly administer medical attention to the injured individual until the proper emergency services arrived. His efforts are attributed with saving the man’s ......read more

Saudi Arabia Ministry of Finance (National Center for Government Resource Systems) and Basamh Trading and Industries Group Named as Leading MENA Digital Innovators

• IDC: MENA IT Spend Rebounds to Top USD 77 Billion in 2021     RIYADH, Kingdom of Saudi Arabia — 9 December 2021:   Saudi Arabia’s leading innovators, the Ministry of Finance (National Center for Government Resource Systems) and Basamh Trading and Industries Group, are supporting the Middle East and North Africa (MENA)’s IT market to top USD 77 billion in 2021, global technology company SAP announced today.   Recognizing leadership in innovation and the top digital transformation initiatives, SAP has announced the winners of its SAP Quality Awards for Customer Success 2020. Winning organizations and their channel partners were across three categories: Business Transformation, Fast Delivery, and SAP S/4HANA Move.    The awards ceremony was held at the SAP ......read more

W7Worldwide Becomes First Homegrown Saudi Agency to Win Three Prestigious MEPRA Awards

Jeddah - December 06, 2021:   Leading independent communications agency W7Worldwide is the only homegrown Saudi agency to enter and win 3 Middle East Public Relations Association (MEPRA) Awards, competing with the region’s leading agencies. W7Worldwide succeeded in being shortlisted in 13 of the 56 categories, with more than 88 agencies and in-house communications teams participating in the prestigious MEPRA Awards. W7Worldwide swept up the Best Crisis Communications & Issues Management Campaign, Best Professional Services Campaign, and Best Energy & Natural Resources Campaign Awards.  This triple award win proves W7Worldwide’s leading position in Saudi Arabia and the GCC region with its business model of a truly homegrown communications agency that operates to the highest international standards and ......read more

Riyadh Lifestyle Retail Landscape Blooms with 288,000 sqm of New Developments

Riyadh, 6th December: Riyadh’s food and beverage scene is really thriving with 288,000 sqm of restaurant-led lifestyle retail developments, which include 273 new restaurants, spread across 16 lifestyle retail developments, coming to market, since the National Transformation Plan was announced in 2016, according to new research by global real estate consultant, Knight Frank.  Faisal Durrani, Partner - Head of Middle East Research, Knight Frank, explained: “The government’s vision to transform Riyadh into a new cosmopolitan business hub for the region is bringing into focus the city’s public realm and lifestyle amenities. These key ingredients that define a city’s habitability are slowly starting to fall into place in Riyadh. The Kingdom’s capital is beginning to morph into a foodie’s ......read more

Other Top Stories from Banking and Investments
 
Emerson Signs Agreement with Saudi Aramco Reinforcing Support for IKTVA and Saudi Vision 2030…

Memorandum of understanding was signed at the iktva 2022 Forum & Exhibition January 27, 2022 – Emerson (NYSE: EMR) signed a memorandum of understanding with Saudi Arabian Oil Co. at the iktva 2022 Forum & Exhibition recently. The agreement reinforces Emerson and Saudi Aramco’s partnership in advancing localization initiatives in the Kingdom of Saudi Arabia. The signing ......read more

@HACK, The Region's Biggest ever Cybersecurity Event, makes Saudi Arabia The Centre of ICT Security…

• 24,872 attendees participate in three-days of @HACK in Riyadh • 200 top-level cybersecurity expert speakers • 600 hours of knowledge sharing and training • SAR 1 million hacking competition reaches its finale   Riyadh, Saudi Arabia, 2nd December 2021: @HACK, the largest ever dedicated cybersecurity event in the Middle East and North Africa, has concluded ......read more

Smart Technologies Signs Partnership Accord With Saudi Arabia's TETCO to Drive Kingdom's EdTech ...…

November 27, 2021:  Canada-based education software leader eyes further regional expansion in UAE and beyond as modern telecommunications infrastructure powers EdTech potential SMART Technologies (SMART), a global educational software leader specialising in collaboration touch and interactive technology solutions, has amplified expansion initiatives across the Middle East and North Africa ......read more

The American Chamber of Commerce Saudi Arabia & Golf Saudi Sign Memorandum of Understanding…

14 November, 2021, Jeddah, Saudi Arabia: The American Chamber of Commerce in Saudi Arabia (AmChamKSA) and Golf Saudi have signed a Memorandum of Understanding (MoU) which addresses key areas of collaboration including investor attraction, mass participation, co-hosting of events, green initiatives, marketing, education, and research and innovation. The MoU signing ceremony was held at King ......read more

Wa'ed Announces Over SAR 8.1 Million in New Financial Aid to Six Saudi Entrepreneurs at the Madinah ...…

Wa’ed dedicated up to SAR 8.1 million in seed grants, loans, and VC funds to six Saudi entrepreneurs during the center’s fifth Roadshow stop held on Thursday night in Madinah.    14, November 2021 - Wa’ed, the entrepreneurship arm of Aramco, has dedicated up to SAR 8.1 million in new seed grants, loans, and VC investments to six Saudi-based startups during ......read more

Fawaz Abdulaziz Alhokair Co. Delivers Strong First Half Underpinned by Solid Operational and ...…

• H1-FY22 top line grows 74.9% y-o-y to SAR 3.1 billion and exceeds pre-pandemic H1-FY20  • Second sustainably profitable quarter in a row with Q2-FY22 net profit of SAR 20.9 million  • Margins restored to pre-pandemic level with Q2-FY22 gross margin at 17.1% and EBITDA margin of 11.4%  • Strengthening of financial position through proposed SAR 1.0 ......read more

Riyadh Office Rents Jump 2.9% Due to Increased demand for Grade A Offices, Spurred by ‘Program HQ' ...…

Riyadh, 9th November, 2021: Momentum appears to be building around the Saudi government’s ‘Program HQ’ initiative, which has seen over 40 multinational businesses recently announcing plans to make Riyadh the base for their regional HQ’s by the end of 2024.  The burgeoning demand for Grade A office space in the Saudi capital, Riyadh, has unsurprisingly placed ......read more

New Executive Report from IDC Examines the Progress Being Made in Saudi Arabia's Digital ...…

Riyadh - November 08, 2021:  Digital technologies are playing an increasingly major role in enabling the Vision Realization Programs (VRPs) that are helping to make Saudi Arabia's Vision 2030 a reality. From national-level data management platforms to human capital development portals, digital transformation is continuously disrupting industries across the Kingdom's public and ......read more

Saudi Arabia's AutoWorld Goes Live with Infor CloudSuite Equipment…

Auto-leasing pioneer standardizes business functions to tap $560 million market with the help of Infor Consulting Services      DUBAI, UAE – November 4, 2021 – Infor, the industry cloud company, today announced that Al-Jazira Equipment Co. Ltd., (commercially known as AutoWorld), and part of SEDCO Holding, a pioneer in auto leasing in the Kingdom of Saudi Arabia, has ......read more

Illegal Data Collection and Financial Data Theft are Major Worries for UAE and Saudi citizens…

●      Two in five respondents in UAE and KSA say having financial data stolen is their main worry  ●      45% of UAE respondents fear data being collected, 37% in KSA ●      75% of UAE respondents say they have low trust in social media platforms    November 02, 2021: Ding, the fastest way to send international ......read more

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