ACWA Power to showcase its technologies at water, climate congress in

Saudi Arabia is experiencing a thriving fintech sector, with digital payments reaching 62% of the country's target of 70% by the end of 2025, and the number of fintech companies reaching 183, representing 80% of the target set for 2025. The growth of fintech is expected to support institutions, enable small businesses, and contribute to the expansion of the digital economy in Saudi Arabia.

arabnews.com

Relevant topic timeline:

8/17/2023

6 fintech investors sound off on AI, down-rounds and what’s ahead

Main topic: The challenges faced by fintech startups in obtaining funding and maintaining valuations in 2023. Key points: 1. Global fintech funding declined in Q2 2023, with valuations also dropping significantly. 2. Artificial intelligence (AI) is a hot topic in the fintech space, but investors should be cautious and consider the meaningful application of AI in companies. 3. Navigating the venture landscape as a fintech startup requires resilience, perseverance, and a responsible approach to growth. Hint on Elon Musk: There is no mention of Elon Musk in the given text.

9/3/2023

Healthcare IT market in Saudi Arabia is set to grow by USD 1.6032 billion from 2022 to 2027

The healthcare IT market in Saudi Arabia is projected to grow by USD 1.6032 billion from 2022 to 2027, driven by an increase in the detection of chronic diseases and the growing need for healthcare IT solutions to effectively manage these conditions.

9/4/2023

Pakistan's interim PM says Saudi Arabia to invest $25 bln over next five years

Saudi Arabia plans to invest up to $25 billion in Pakistan over the next few years, focusing on sectors such as mining, agriculture, and information technology, in an effort to increase foreign direct investment and aid Pakistan's economic recovery.

9/6/2023

Saudi Arabia’s economic and fiscal position strong due to Vision

The Saudi fashion industry is projected to have the highest growth rates among large, high-income markets, with fashion sales expected to surge by 48% from 2021 to 2025, according to a report by the Saudi Fashion Commission. The industry contributed 1.4% to the country's GDP in 2022 and is expected to reach a turnover of $32 billion by 2026. The report also highlights the sector's contribution to job creation and the push for inclusivity, with women making up 52% of employees in the fashion sector.

9/10/2023

Saudi Arabia Diversifies Economy and Invests in Mega-Projects as Oil Dependence Declines

Saudi Arabia is undergoing a major transformation through its Vision 2030 plan, led by Crown Prince Mohammed Bin Salman, aiming to diversify its economy and secure its place on the global stage; despite controversies and challenges, the country's economy is booming, heavily reliant on oil, and is making significant investments at home and abroad.

9/13/2023

Saudi Arabia Gradually Reforming Debt Market Under Vision 2030 to Boost Businesses and IPOs, Says CMA Chief

Saudi Arabia's debt market is set to be reformed in order to help businesses in the Kingdom acquire funding and compete on a global level, according to the chairman of the Capital Markets Authority. The changes will occur gradually to ensure economic stability and support the goals of the Vision 2030 initiative to grow the country's financial sector. The chairman also expressed optimism about the growth of the Saudi Stock Exchange and its record-breaking performance in 2022.

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Posted 9/4/2023, 5:43:59 PM