Industry

The financial technology sector in Saudi Arabia is experiencing a surge, with the Kingdom becoming a hotspot for fintech development. Fortis, a fintech firm based in the UAE, is introducing its integrated solution that includes point of sale, customer relationship management, payments, and order management to aid small and medium-sized enterprises (SMEs) within the country.During a conversation with Arab News,...

In an effort to drive its economic diversification, Saudi Arabia is intensifying its industrial and mining sector relations with the Netherlands, following a series of high-level visits and meetings. The Kingdom's industry minister made a significant trip to the Netherlands, engaging with top manufacturing companies.During a visit to the Philips Medical Devices factory in Eindhoven, the minister held discussions with...

During a series of strategic encounters in Morocco, Saudi Arabia's Minister of Industry and Mineral Resources, Bandar bin Ibrahim Al-Khorayef, engaged in talks with officials from Iraq, Sudan, Libya, and Palestine. The purpose of these discussions was to bolster industrial integration between Arab countries and to emphasize the rich opportunities found within Saudi Arabia's mining industry.In individual meetings with Iraqi...

The digital and cloud transformation company's stock witnessed a surge of up to 15% following its strategic partnership with NVIDIA to enhance the capabilities of its icxPro platform.Mastek Ltd, with a market valuation of Rs 8,870.23 crore, saw its shares trade positively at Rs 2,874.35 crore. This marks an approximate 11.24% increase from the prior closing value of Rs 2,479.10...

Hikvision, a global pioneer in creating advanced security solutions, has joined forces with alfanar, a distinguished Saudi Arabian industrial group, to set up a high-tech manufacturing unit in Riyadh. This partnership is designed to elevate local production by crafting premium quality security devices within the region. The alliance aligns with the objectives of Saudi Arabia's Made in Saudi program, part...

Based in Jeddah, Saudi Arabia, SEDCO Capital, an investment firm recognized for its adherence to Shariah principles and commitment to Environmental, Social, and Governance (ESG) standards, has recently announced an extension for its SC Multi Asset Traded Fund (referred to as "the Fund") subscription period, which will now conclude on June 27, 2024. The subscription window for the Fund was...

MILAN — Full throttle on progress. Less than a year after the inaugural Riyadh Fashion Week illuminated the new King Abdullah Financial District, the Saudi Fashion Commission is swiftly progressing towards establishing a robust local fashion value chain and diversifying into additional fashion-related categories.The expansion of the beauty sector with a focus on fragrances and the creation of a state-of-the-art...

Simplified Financial Solutions Co., a Saudi Arabian fintech venture, has successfully completed a seed funding round, raising a substantial $10 million. The round was spearheaded by Sanabil Investments, owned by the Public Investment Fund, alongside RAED Ventures.Support also came from a diverse group of investors including anb seed, Rua Ventures, Byld, and KBW Ventures, as well as returning investors Khwarizmi...

The global enterprise Honeywell has recently unveiled a new assembly line in Saudi Arabia, specifically designed for the production of fire alarm systems and building management technologies. Strategically situated in Dhahran, this installation is a key part of Honeywell's strategy to enhance its building automation services in the Kingdom and the wider Middle East. By manufacturing products locally, the facility...

The majestic city of Riyadh is set to become the epicenter of technological advancement with the upcoming Future Semiconductors Forum 2024. Organized by the prominent King Abdulaziz City for Science and Technology (KACST) in collaboration with King Abdullah University of Science and Technology (KAUST), this significant event is poised to take place on June 5-6, 2024, at the innovative Garage...