Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
Knowledge Economic City, Kaden and Capital Hill Sign MoU for SAR 2.5 Billion Madinah Real Estate Fund
Knowledge Economic City, Kaden, and Capital Hill have signed an MoU to launch a SAR 2.5 billion private real estate fund to develop Multaqa AlMadinah 2.
Saudi Arabia International Leisure Tourism Set to Grow 93% by 2030
Saudi Arabia’s international leisure tourism is projected to grow 93% by 2030, driven by luxury travel demand and major hospitality expansion in Riyadh.
SDAIA and Etihad Atheeb Sign MoU to Develop AI-Powered Telecom Solutions
SDAIA and Etihad Atheeb signed an agreement at LEAP 2026 to cooperate on developing and standardizing AI-powered telecommunication services.
STC Group Launches Colab Venture Building Platform at LEAP 2026
STC Group has launched Colab at LEAP 2026, establishing a dedicated corporate venture-building arm to develop and scale digital startups.
CST Issues International Cable Services Permit to Technical Links Services at LEAP 2026
CST granted Technical Links Services a landing station permit at LEAP 2026, backing 375 million riyals in planned digital infrastructure investments.
Nvidia to Acquire AI Platform Hugging Face for $12.93 Billion
Nvidia has agreed to purchase AI platform Hugging Face for $12.93 billion, expanding its open-source software and developer infrastructure.
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Almosafer Report Details Saudi Travel Trends Across the First Seven Months of 2026
Almosafer has released its 2026 travel trends report, showing that domestic bookings accounted for 46% of total volume alongside rising adoption of AI search and fintech payments.
Red Sea Global Opens Nammos Resort AMAALA in Saudi Arabia
Red Sea Global has officially opened Nammos Resort AMAALA, introducing 110 guest rooms and 20 private residences along the Triple Bay coastline.
SAL and Microsoft Partner to Advance Digital Logistics at LEAP 2026
SAL and Microsoft signed an agreement at LEAP 2026 to explore digital logistics, AI integration, and cloud-driven supply chain management.
Red Sea Global Opens Equinox Resort AMAALA in Saudi Arabia
Red Sea Global has opened Equinox Resort AMAALA in Saudi Arabia, marking the brand’s first international location outside the United States.
SAL and Elm Launch CargoGate Services to Improve Station Operations
SAL Logistics Services and Elm have launched CargoGate services during LEAP 2026 in Riyadh following a successful trial phase across four main stations.
TAWAL and Huawei Sign Indoor Building Solutions Agreement at LEAP 2026
TAWAL and Huawei signed an Indoor Building Solutions partnership agreement at LEAP 2026 to deploy 5G and all-fiber networks across Saudi Arabia.
AGIBOT Hosts Partner Conference in Riyadh to Expand Robotics Presence
AGIBOT convened industry partners in Riyadh to accelerate commercial robotics deployment across six major industrial sectors in Saudi Arabia.
LEAP 2026 Concludes Fifth Edition in Riyadh With 1 Million Dollars in Startup Prizes
LEAP 2026 concluded its fifth edition in Riyadh, awarding 1 million dollars in startup prizes and confirming over 15 billion dollars in tech deals.
NTT DATA and Red Sea Global Form Strategic Partnership for AI and Smart Cities
NTT DATA and Red Sea Global have signed a strategic partnership to develop AI-driven smart city, infrastructure, and hospitality solutions in Saudi Arabia.
MCIT and Snap Launch Initiative to Train 20,000 Saudi Talents by 2030
MCIT and Snap partner at LEAP 2026 to train over 20,000 Saudi talents in digital marketing, augmented reality, and technical skills by 2030.
General Motors Recognized in Saudi Arabia for Advancing Connected Vehicles
Saudi authorities recognized General Motors for advancing connected vehicle technologies through its OnStar platform across Chevrolet, GMC, and Cadillac models.
Syria Signs Digital Cooperation Organization Charter in Riyadh
Syria has signed the Digital Cooperation Organization Charter in Riyadh, advancing its process toward becoming a full member state.
Forum Outlines AI and Digital Initiatives to Expand Arab-Brazil Economic Ties
Proposals presented at the Brazil and Arab Countries Economic Forum outline digital platforms, AI trade tools, and fintech partnerships to expand bilateral commerce.
Nammos Resort AMAALA Welcomes First Guests on Saudi Red Sea Coast
Nammos Resort AMAALA has officially welcomed its first guests in Saudi Arabia, featuring 110 rooms and villas on the Red Sea coast.
AMD and Saudi PIF Entity HUMAIN Launch $10 Billion AI Computing Venture
AMD and Saudi PIF-backed HUMAIN announced a $10 billion joint venture to build 500MW of AI infrastructure across Saudi Arabia and the United States.
PayTabs Group Acquires Amazon Payment Services MENA Operations for Over $100 Million
PayTabs Group agrees to acquire Amazon Payment Services MENA operations in a deal valued above $100 million, processing over SAR 150 billion annually.