In its latest industry report, Arthur D. Little unveils the rapid growth and evolving landscape of the fintech sector in Saudi Arabia, illustrating significant strides towards transforming the Kingdom into a leading global fintech hub. The report, highlights the Saudi Arabian Monetary Authority’s (SAMA) and other regulatory bodies central contribution in driving the sector’s expansion,…
Saudi sees a 180% surge in monthly online shoppers in the past 48 months
Amidst an era marked by swift digital transformation, Saudi Arabia’s digital payments ecosystem has demonstrated exceptional growth, while Saudi consumers continue to be increasingly enthusiastic about online shopping demonstrated by an impressive 180% increase in monthly e-commerce shoppers since 2020. These insights and more were revealed in Checkout.com’s 4th annual MENA e-commerce report. The leading…
Escalated conflict in the Middle East could result in $150/ barrel oil price and a cut in global output by $1 trillion, finds new analysis by Bloomberg Intelligence and Bloomberg Economics
Thus far, the Israel-Hamas conflict has had limited impact on the global economy. However, an escalation to a direct war between Israel and Iran, could result in oil prices rising to $150 a barrel and global output cut by $1 trillion, according to a new analysis by Bloomberg Intelligence (BI) and Bloomberg Economics (BE). The…
54% breaches in Saudi Arabia, UAE originate in cloud, costing $2.3m annually
Inadequate cloud security practices are leaving organisations in the UAE and Saudi Arabia susceptible to data breaches, according to new research from Illumio. The Illumio Cloud Security Index found that 54% of breaches in the UAE and Saudi Arabia now originate in the cloud, costing organisations US$2.3m annually. This is particularly concerning given that over…
70% of Middle East organizations have adopted Zero Trust strategy, finds new Entrust Study
The Entrust Cybersecurity Institute today released survey findings on the State of Zero Trust adoption and encryption in 2024, revealing that the Middle East market is leading the charge in global Zero Trust strategy implementation (70% in UAE, and 70% in KSA), compared to global markets (62%). Despite this, challenges such as insufficient cyber hygiene…
Arthur D Little forecasts growth in Saudi Arabia’s biotechnology and genomics sector
A comprehensive analysis by Arthur D Little Middle East, projects substantial double-digit growth potential for Saudi Arabia’s biotechnology and genomics sector, in line with the aspirations of Saudi Vision 2030’s targets. The detailed report, orchestrated by Dr Patrick Linnenbank, Partner at ADL Middle East, and Dr Ankita Gulati, Principal at ADL Middle East, provides a…
SAUDI ARABIA POISED FOR EV BOOM AS USA, EUROPEAN MARKETS STAGNATE, ALIXPARTNERS STUDY FINDS
7 in 10 residents of Saudi Arabia are “very” or “moderately” likely to purchase a battery-electric vehicle (BEV), a figure that is projected to rise to 85% by 2035, indicating significant growth potential for BEVs in the country over the coming years. In China, the world’s largest automobile market, the “very” or “moderately” likely BEV-purchase…
Organisations in UAE and Saudi Arabia lose $2.3m a Year to Cloud Breaches
Illumio Cloud Security Index 2023: How UAE and Saudia Arabia stack up Inadequate cloud security practices are leaving organisations in the UAE and KSA susceptible to data breaches, according to new research from Illumio. The Illumio Cloud Security Index found that 54 percent of breaches in the UAE and KSA now originate in the cloud,…
Transformation of healthcare in Saudi Arabia
The Programme will focus on boosting public health and expanding the provision of e-health services. Disaster health services Saudi Arabia identified in the past decade that health concerns with pilgrims could cause severe problems to the country’s infrastructure during the pilgrimage season. As part of the same strategy, contingency planning was introduced by creation of…
54% organisations suffered cyberattack, incident that prevented access to data says Dell Technologies
Over half, 54% of organisations suffered a cyberattack or incident that prevented access to data last year, according to the 2023 Dell Technologies Global Data Protection Index survey of 1,000 IT decision makers, ITDMs and 500 IT security decision makers. Respondents report that IT disruption is commonplace, with the vast majority, 90% saying their organisations…