Saudi Arabia’s Public Investment Fund (PIF) has taken a 5.01% stake in Nintendo Co Ltd as the sovereign wealth fund increases its exposure to the Japanese video gaming industry. The investment in the Kyoto-based group company was made for investment purposes, a filing said, and comes as PIF has also taken stakes in video game […]
Saudi Arabia
Mobile Telecommunication Company Saudi Arabia (Zain KSA) reported a net profit after Zakat and tax of $ 57 million for 2021, down 18 percent from $69 million a year earlier. In addition, it has seen a 17.7 percent decrease in net profit in 2021 as COVID-19 driven repercussions weighed on revenues. The company explained that […]
Saudi Arabia’s stc pay launched, late last week, the Qattah service, which is an integrated service that will allow customers to easily share and track expenses with multiple people, removing the stress from splitting bills. The digital payment provider service of telecommunications company offered this application that will let users equally divide the amount to […]
Red Hat, Inc., the world’s leading provider of open source solutions, announced Monday that Arab National Bank (ANB), a leading banking institution in the Kingdom of Saudi Arabia (KSA), is speeding its transformation in key areas. Those areas include digital banking, open finance and customer engagement with agile delivery and modern apps built on a […]
Saudi Arabia is looking to attract investments upwards of $18 billion dollars as part of its bid to construct large-scale data centers across the Kingdom, the country’s Ministry of Communications and Information Technology (MCIT) announced this week. The move – which is part of Saudi Arabia’s Vision 2030 – aims to transform the gulf country […]
Saudi Arabia’s Communications and Information Technology Commission (CITC) fined late last week, a number of local telecoms providers for violating several telecommunications laws in the Kingdom. CITC imposed fines reaching more than SR40 million ($10.67 million) for making promotional offers in violation of CITC’s decisions, using frequencies without licenses, failing to comply with the CITC’s […]
Saudi Arabia’s Communications and Information Technology Commission (CITC) has announced that it will become a 5G network regulator in the International Telecommunications Union (ITU) rankings, as it progresses from a telecom regulator to a digital regulator. “We are one of the most tech-savvy and connected nations in the world and CITC, as the national regulator, […]
Fintech Saudi in partnership with Flat6Labs, a regional startup accelerator, are launching a Fintech accelerator that consists of an intensive innovation and entrepreneurship program spanning 3 months. The partnership brings together Fintech Saudi’s market reach as well as Flat6Labs’ experience and resources to provide 10 startups with all the tools, practices, and resources to scale […]
“A start-up the size of a country,” is how Saudi Arabia’s futuristic mega-city Neom is being described by Saudi officials, investors, contractors and the like. The city will take up a whopping 10,000 square miles of rocky desert and empty coastline in the country’s remote northwest Tabuk province, where the kingdom will look to attract […]
As part of Crown Prince Mohammed bin Salman’s Vision 2030 plan to transform the Kingdom for a post-hydrocarbon age, a project entitled NEOM is currently being developed in Tabuk, in northwestern Saudi Arabia. On August 23, Saudi Energy Minister Abdul Aziz bin Salman said that his Ministry is ready to offer assistance to NEOM – […]