Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
LG Electronics Reports Record Q2 Revenue and 147 Percent Profit Surge
LG Electronics achieved record second-quarter revenue of KRW 23.83 trillion and a 147 percent surge in operating profit for Q2 2026.
My Syria App Launches as Country’s First Tourism Super App
The My Syria app has officially launched as the country’s first digital tourism super app, enabling cross-border payments with Apple Pay and international cards.
Knowledge Economic City Signs LOI for SAR 7.5 Billion Real Estate Fund
Knowledge Economic City has signed a letter of intent to establish a SAR 7.5 billion fund for the Knowledge Gardens mixed-use project in Madinah.
SEVEN Abha Entertainment Destination Opens in Aseer
Saudi Entertainment Ventures has announced the opening of its first entertainment destination in the Aseer region, scheduled for August 5, 2026.
Arriyadh Roaster Adopts Plex Manufacturing Platform for Coffee Production
Arriyadh Roaster has adopted Rockwell Automation’s Plex platform to digitize its coffee production and improve operational visibility across Saudi Arabia.
9Z Globant Joins Elite Global Network as Official Esports Foundation Partner
9Z Globant has officially joined the Esports Foundation partner program, securing its place among 40 elite global organizations and qualifying for the Esports World Cup 2026.
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BHM Capital Launches New AI and Consulting Department
BHM Capital has established a new Consulting & AI-Enablement Department to provide specialized artificial intelligence advisory services to corporate and government clients.
Changan Automobile Named to Kantar BrandZ Top 50 Chinese Global Brand Builders
Changan Automobile has been named to the Kantar BrandZ Top 50 Chinese Global Brand Builders for the third consecutive year, rising into the top 10 auto brands.
ALTAWKILAT Universal Motors Expands Chevrolet Captiva PHEV Presence in Saudi Arabia
ALTAWKILAT Universal Motors has launched interactive campaigns and test drives across Saudi Arabia to showcase the new Chevrolet Captiva PHEV hybrid SUV.
KONE Enhances Customer Support Operations with Upgraded Jeddah Center
KONE has officially inaugurated its enhanced Customer Service Center in Jeddah, offering 24/7 bilingual support and targeting 20-second call response times.
LG Launches Multi V i VRF System in Saudi Arabia
LG and Shaker Group have launched the Multi V i VRF system in Saudi Arabia, introducing AI-powered climate control optimized for extreme heat.
Saudi Tourism Authority and Mastercard Partner to Drive Tourism Growth
The Saudi Tourism Authority and Mastercard have signed an agreement to boost tourism using data analytics and curated cultural experiences.
SAL Completes Acquisition of Aviapartner Liège for SAR 120 Million
SAL Logistics Services Company has finalized its 100% acquisition of Aviapartner Liège SA for SAR 120 million, marking its first international expansion.
Salam Obtains NCA Managed Security Operations License
Salam has secured a five-year Tier 2 license from the National Cybersecurity Authority to provide Managed Security Operations Center services in Saudi Arabia.
Knowledge Economic City Signs SAR 91 Million Infrastructure Contract
Knowledge Economic City has signed a SAR 91 million contract with SALCO to develop the infrastructure of its Southeastern District over 24 months.
Jazeera Paints Sponsors Aseer Draws Art Initiative in Abha
Jazeera Paints sponsored the Aseer Draws event in Abha, where over 1,000 artists created a collaborative portrait of the Crown Prince.
Music Commission Partners with Jazz in Jeddah Platform
The Music Commission has announced a strategic partnership with the Jazz in Jeddah platform to support local talent and boost the cultural music economy.
IBM Report: Cost of Data Breaches in Middle East Reaches $8 Million
A new IBM study reveals that the average cost of data breaches in the Middle East has reached $8 million, with AI-powered attacks on the rise.
Coursera strategic investment of $100 Million in LearnVector to Advance AI Learning
Coursera has announced a $100 million strategic investment in LearnVector, a new AI-native learning company founded by Andrew Ng.
W Capital Receives Top Sales Agency Award from Reef Developments
W Capital Real Estate Brokerage has been awarded the Top Sales Agency title by Reef Developments for its outstanding sales performance in Dubai.
KniTT Launches Elysium Private Cloud Platform to Address Geopolitical Risks
KniTT has launched Elysium, an AI-powered private cloud platform designed to secure data sovereignty and mitigate geopolitical risks in the Middle East.
Saudi Arabia Mandates AI in Education Across General Schools
Saudi Arabia has integrated AI in education as a mandatory subject for over six million students, supported by extensive teacher training programs.