Category Archives: Business & Investments

Business & Investments

Alstom opensits regional headquarters in Saudi capital Riyadh

  • The new Alstom headquarters in Riyadh builds on a 70-year legacy, furthering railway innovation and development in Saudi Arabia.
  • The Riyadh office will also hostthe ServicesDigital Centre, aimed at advancing Alstom’s capabilities in condition-based and predictive maintenance.

15 July 2024– Alstom, theglobal leader in green and smart mobility solutions, today proudly inaugurates its opening of their regional headquartersin Riyadh. This significant step underscores Alstom’s commitment to advancing sustainable mobility and its long-standing role in shaping the region’s railway development.

Strategically located in the capital of Saudi Arabia, the new headquarters is designed to enhance Alstom’s operations throughout the Gulf and beyond. This includes fostering growth and development,improving the oversight of key projects andoptimizing railway maintenance.

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Business & Investments

Beyond coverage, crafting a unique grocery experience is a survival imperative, according to new report from Oliver Wyman

Key takeaways: 

  • Almost 70% of KSA consumers would be interested in shopping at a discount grocery retailer, or already shop there
  • Personalization is a differentiation opportunity in KSA, with more than 60% of survey respondents saying they would be interested in personalized offers
  • 90% of respondents deliberately look for fruit & vegetables produced in KSA when shopping
  • Saudi customers are four times more excited about AI services than their US counterparts
  • Retailers need to revisit their relationship with suppliers and put the customer at the center of assortment, space, price and promotion decisions to win in the market
Alexander Poehl

Riyadh, Kingdom of Saudi Arabia, July 15, 2024 – A major new report from Oliver Wyman, a global management consulting firm and a business of Marsh McLennan (NYSE: MMC), has identified key trends, opportunities and potential challenges in the Kingdom of Saudi Arabia’s grocery retail sector. 

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Business & Investments

UAE retail investors choose AI over Big Tech; Pharma loses momentum: Q2 Top Stocks

  • NVIDIA, AMD, and Intel are some of the most-held stocks among UAE eToro users
  • Big Tech names such as Snapchat, Adobe, Netflix, and Apple see decline in investor interest
  • Pharma stocks also experience downturn as the pandemic recedes into the past

Monday, 15thJuly 2024: UAE retail investors continue to rally behind AI while Big Tech and pharma stocks lose momentum, finds the latest quarterly stocks data from trading and investing platform eToro.

eToro looked at which companies saw the biggest proportionate change in holders, quarter-on-quarter on its platform (table 1), while also looking at the 10 most held stocks (table 2) in the UAE.

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Business & Investments

44.01 completes $37m Series A investment round

  • $37m fundraise will enable technology development,commercialisation and international expansion
  • Investors include climate investment leaders,geologicalcarbon storageexperts and technology developers
  • 44.01’s technology already piloted in Oman and the UAE
  • Potential for CO2 mineralisation on every continent making 44.01’s technology a safe, permanent, and scalable carbon sequestration solution

15July 2024: 44.01 announces the completion of a $37m Series A funding round. The round isled by Equinor Ventureswith Shorooq Partners in the UAE, as well as (in alphabetical order)Air Liquide Venture Capital (ALIAD), AlumniVentures, Amazon’s Climate Pledge Fund, Climate Investment, Innovation Development Oman,Planet A Ventures, Salica Oryx Fund,Siemens Financial Services, Sumitomo Corporation andseveral otherinvestors. Existing investors including Breakthrough Energy Ventures have also recommitted to 44.01’s technology by participating in the round.

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Business & Investments

Reem Finance PJSC Partners with Appro Onboarding Solutions FZ LLC to Enhance Customer Onboarding Experience

Abu Dhabi, UAE –15 July, 2024

Reem Finance PJSC has signed an agreement with Appro Onboarding Solutions FZ LLC to implement Appro’s state-of-the-art onboarding journey as a Software as a Service (SaaS).

The collaboration aims to revolutionize the customer onboarding process, ensuring a seamless, efficient, and secure experience for Reem Finance’s clients.

Held at Reem Finance’s headquarters in Abu Dhabi, the agreement marks a significant milestone in the company’s digital transformation journey.

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