Tabby’s app achieves a record 26m clicks to retail partners in a year

Retail partners work with Tabby’s in-house marketing team to gain traffic and visibility through prominent placement in the app which delivers curated content, promotions and deals. 
Retail partners work with Tabby’s in-house marketing team to gain traffic and visibility through prominent placement in the app which delivers curated content, promotions and deals. 
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Updated 28 June 2022

Tabby’s app achieves a record 26m clicks to retail partners in a year

Tabby’s app achieves a record 26m clicks to retail partners in a year
  • The app drives 3.5 million clicks every month to thousands of retailers.

RIYADH: Tabby, the payments and shopping app, attracted 2 million shoppers driving 26 million clicks to retail partners in the last year, according to a statement. 

The app drives 3.5 million clicks every month to thousands of retailers, including brands like Ikea, Shein, Adidas, Level Shoes, H&M, and thousands more.

The app currently ranks among the top-10 shopping apps on the App store in Saudi Arabia and the UAE with 500,000 shoppers installing the app every month to discover new stores and unlock great deals.

Commenting on the achievement, Hosam Arab, co-founder and CEO at Tabby, said: “We’re seeing Tabby’s place in people’s shopping journey go far beyond payments, with millions relying on Tabby to support their entire shopping experience. Tabby’s app helps customers discover where to shop and make the most out of their money, driving high-intent traffic to thousands of our retail partners.”

Retail partners work with Tabby’s in-house marketing team to gain traffic and visibility through prominent placement in the app which delivers curated content, promotions and deals. 

The past two years have seen exponential growth for Tabby, with 8 of the 10 largest retail groups in the Middle East and North Africa choosing Tabby as their preferred partner and closing their series B funding round at $154 million in equity and debt this year. 


Qatar Airways to resume operations to Qassim, adds 4 flights to Riyadh

Qatar Airways to resume operations to Qassim, adds 4 flights to Riyadh
Updated 40 sec ago

Qatar Airways to resume operations to Qassim, adds 4 flights to Riyadh

Qatar Airways to resume operations to Qassim, adds 4 flights to Riyadh

RIYADH: Qatar Airways will resume its operations to Qassim, its fifth destination in Saudi Arabia, according to a statement. 

The flights will operate three days weekly starting Aug. 22 and will increase to four from Sept. 2.

The airline will also introduce four additional weekly flights to Riyadh starting Aug. 18, bringing the total flight to 20 per week to meet the growing demand.

Currently, Qatar Airways operates 93 weekly flights to four cities in Saudi Arabia, following the latest additions, the total number of weekly flights to the Kingdom will reach 101. 


Saudi-listed East Pipes seeks capital hike as it posts 190% profit jump

Saudi-listed East Pipes seeks capital hike as it posts 190% profit jump
Updated 35 min 5 sec ago

Saudi-listed East Pipes seeks capital hike as it posts 190% profit jump

Saudi-listed East Pipes seeks capital hike as it posts 190% profit jump

RIYADH: Saudi-listed East Pipes Integrated Co. for Industry’s board has proposed a capital raise of 50 percent, after reporting a higher second-quarter profit.

The pipe manufacturer is looking to increase its current capital of SR210 million ($56 million) to SR315 million through granting bonus shares, according to a bourse filing.

Shareholders will receive 0.5 shares for every one share held through the capitalization of SR105 million from retained earnings.

“The objective of the proposed bonus shares is to provide sustainable returns to shareholders, whilst supporting the company’s strategic investment plans,” the filing stated.

East Pipes had earlier reported a 190 percent year-on-year surge in profits to SR6.2 million for the second quarter of 2022, buoyed by a higher sales volume.


NRG Matters — Egypt eyes $10bn renewables plan; ADNOC Drilling awarded offshore rigs contracts

NRG Matters — Egypt eyes $10bn renewables plan; ADNOC Drilling awarded offshore rigs contracts
Updated 43 min 13 sec ago

NRG Matters — Egypt eyes $10bn renewables plan; ADNOC Drilling awarded offshore rigs contracts

NRG Matters — Egypt eyes $10bn renewables plan; ADNOC Drilling awarded offshore rigs contracts

RIYADH: Egypt is eying $10 billion of renewables to replace inefficient thermal fossil fuel power plants. 

In an effort to drive the country’s carbon emissions reduction goal, the precuts are expected to be delivered by the private sector, according to MEED.

US motors

A group representing General Motors, Toyota Motor, Volkswagen and other major automakers said a $430 billion bill approved by the US Senate will put achieving electric-vehicle adoption targets for 2030 in jeopardy.

The Alliance for Automotive Innovation had warned that most EV models would be ineligible for a $7,500 tax credit for US buyers under the bill, Reuters reported. 

Offshore rigs

ADNOC Drilling has been awarded two contracts totaling over 12.6 billion dirhams ($3.4 billion) to hire eight jack-up offshore rigs, Trade Arabia reported. 

Awarded by ADNOC Offshore, the contracts will support the expansion of the firm’s crude oil production capacity to 5 million barrels per day by 2030 and enable gas self-sufficiency for the UAE.


TASI ends higher on strong earnings reports: Closing bell

TASI ends higher on strong earnings reports: Closing bell
Updated 44 min 12 sec ago

TASI ends higher on strong earnings reports: Closing bell

TASI ends higher on strong earnings reports: Closing bell

RIYADH: Saudi Arabia’s benchmark index ended Monday higher after a wave of earnings reports boosted investor sentiment.

The Tadawul All Share Index added 0.66 percent reaching 12,297, while the parallel market, Nomu, climbed 1.36 percent at 22,072.

The Saudi British Bank climbed 1.44 percent, while the Kingdom’s oil giant Saudi Aramco added 0.13 percent.

The Saudi National Bank, the Kingdom’s biggest lender, ended the day 1.82 percent higher, while Alinma Bank rose 1.07 percent.

The Middle East Paper Co. gained 2.83 percent, following a 216 percent increase in first half profits.

The Wafrah for Industry and Development Co. rose 2.79 percent, following the signing of a $4 million contract with German GEA Food for meat production.

Bank Albilad rose 2.62 percent, following the announcement of the establishment of Enjaz Payment Services Co., a closed joint-stock company located in Riyadh.

Almarai Co. increased 0.56 percent, following the announcement of the re-appointment of Prince Naif bin Sultan bin Mohammed bin Saud Alkabeer as chairman and Suliman Al-Muhaideb as vice chairman.


EU plan to cut gas use by 15% comes into effect

EU plan to cut gas use by 15% comes into effect
Updated 57 min 41 sec ago

EU plan to cut gas use by 15% comes into effect

EU plan to cut gas use by 15% comes into effect

BRUSSELS: An EU plan to cut gas consumption across the bloc by 15 percent to cope with an energy price crisis spurred by Russia’s war in Ukraine comes into effect on Tuesday.

The EU regulation enshrining the plan agreed two weeks ago by the 27-nation bloc was published Monday in the EU’s official administrative gazette, with the stipulation it would take force from Tuesday.

“Considering the imminent danger to the security of gas supply brought about by the Russian military aggression against Ukraine, this regulation should enter into force as a matter of urgency,” it said.

The aim is for the EU to be able to bolster its reserves of gas in time for what is likely to be a very tough winter. European households and businesses are being squeezed by skyrocketing energy prices and reduced Russian gas that several member states are dependent on.

The regulation said that EU countries “shall use their best efforts” to cut gas consumption by “at least 15 percent” between August this year and March next year, based on how much they used on average over the previous five years.

Some EU countries, though, had carve-outs from strictly following the rule, which was in any case termed a “voluntary demand reduction.”

These were countries not fully connected to the European electricity grid or with gas pipelines to other parts of the EU or unable to free up enough pipeline gas to help other member states.

Hungary, which relies on gas piped in directly from Russia, had demanded the exception.

Germany, the EU’s economic powerhouse, took a major share of the 40 percent of EU gas imports that came from Russia last year.

Should the European Commission see a “severe gas supply shortage” or exceptionally high gas demand emerging, it can ask EU countries to declare an alert for the bloc. That would make gas cuts binding and limit exceptions.