Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
OpenAI Details Jalapeno Chip Performance Benchmarks Against Nvidia Hardware
OpenAI published benchmark data showing its custom Jalapeno chip outperformed Nvidia GB300 hardware in speed and energy efficiency tests across three large language models.
HPE Launches Gen12 Saudi Made Servers Powered by Intel Xeon 6
HPE has launched its Gen12 Saudi Made servers powered by Intel Xeon 6 processors, offering enhanced efficiency and security for regional enterprises.
HONOR Expands Middle East Shipments by 35% in First Half of 2026
HONOR recorded a 35% increase in Middle East shipments in H1 2026, becoming the region’s second-largest smartphone brand amid a 13% market decline.
Hyundai Launches Regional Campaign Focusing on Vehicle Ownership Costs
Hyundai Motor Middle East & Africa has launched a campaign focusing on total ownership expenses, covering maintenance, fuel economy, and resale value.
Bupa Arabia Launches Third Edition of Corporate Padel Tournament in Jeddah
Bupa Arabia launches the third edition of its corporate padel tournament in Jeddah with 32 teams before moving to Khobar and Riyadh.
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Jeddah’s South Container Terminal Records Highest Monthly Throughput Since 1999
Jeddah’s South Container Terminal handled 221,200 TEUs in July 2026, marking its highest monthly throughput since DP World began operations in 1999.
Tencent Cloud Partners with TruKKer in Saudi Arabia Ahead of LEAP 2026
TruKKer will migrate its digital freight platform to Tencent Cloud’s Saudi data centers and deploy CodeBuddy AI tools ahead of LEAP 2026.
Google Cloud Launches Gemini Enterprise for Financial Services for Banking and Capital Markets
Google Cloud has launched Gemini Enterprise for Financial Services, offering specialized AI agents and 13 market data connectors for global banking.
SalamAir Establishes Salalah’s First-Ever Airline Base in Dhofar
SalamAir has established Salalah’s first-ever airline base, expanding direct international connectivity and flight operations from the Governorate of Dhofar.
MIS Signs Data Center Hosting Agreement with PIF-Owned HUMAIN
MIS signs a five-year data center hosting contract with PIF-owned HUMAIN valued at over 30% of its 2025 annual revenue.
Most read in Economy & Business
- Saudi Businesses Expand Investment in Agentic AI for Enterprise Operations
- Bupa Arabia Concludes Bupa Padel 2026 Tournament in Riyadh
- iSolution Earns Great Place to Work Certification in Saudi Arabia and UAE
- Fortinet and Aramco Sign Agreement to Expand Industrial Cybersecurity in Saudi Arabia
- ELSEWEDY ELECTRIC PSP and Sinohydro Sign $2.2B Rabigh 2 IPP Expansion Contract
Custom AI Chips Challenge Nvidia Merchant GPU Market Leadership
Tech giants including OpenAI, Google, and Amazon are developing custom AI chips, challenging Nvidia’s traditional dominance in the merchant GPU market.
Ten Specialized Academies Present Tech Programs at LEAP26
Ten specialized academies participate in LEAP26 under the Future Skills pavilion to showcase training programs in artificial intelligence and technology.
OpenAI Reduces GPT-5.6 Sol API Pricing for Developers and Enterprises
OpenAI has reduced input and output token pricing for the GPT-5.6 Sol API, lowering operational costs for developers and enterprise software applications.
Anthropic Fable Demand Outpaces Compute Forecasts Prompting Infrastructure Expansion
Surging user adoption for Anthropic’s Fable outpaced computational capacity forecasts, requiring a staged release and major investments in server hardware.
NVIDIA Identifies Power Grid Capacity as Main Bottleneck for AI Infrastructure
NVIDIA reports that power constraints have replaced chip shortages as the main obstacle limiting the expansion of AI data center facilities worldwide.
Absher Platform Processes Over 50 Million Transactions in July
Saudi Arabia’s Absher platform processed over 50.8 million electronic transactions in July 2026, including 47.8 million for individuals and 2.9 million for businesses.
Takamul Holding Signs Agreement with Kuwait to Develop Digital Labor Market Services
Takamul Holding has signed an agreement with Kuwait’s Public Authority for Manpower to modernize labor systems and develop automated digital workforce platforms.
Saudi Arabia Ranks First Globally in ICT Development Index
Saudi Arabia ranked first globally in the ITU ICT Development Index, according to the 2026 Sustainability Report issued by CST and partners.
Twin1 AI Secures $20 Million in Seed Funding Co-Led by Aramco Ventures
Twin1 AI has raised $20 million in a seed round co-led by Aramco Ventures, Bessemer Venture Partners, and Tribeca Venture Partners to scale enterprise AI twins.
Non-Profit Associations Showcase LEAP26 Digital Solutions for Community Impact
Saudi non-profit associations showcased digital platforms at LEAP26, highlighting community impact, automated services, and expanding partnerships.
specialized by stc to Present Operational Resilience Solutions at LEAP
specialized by stc will present its Business Critical Network and Hadath platform at LEAP in Riyadh, focusing on operational readiness and communication resilience.
LG Opens First AI Home Experience Zone in Riyadh Featuring Connected Living Solutions
LG Electronics has opened its AI Home Experience Zone at the Riyadh Brand Shop, presenting connected living solutions and B2B building technologies.