Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
Abu Dhabi Infrastructure Summit Day Two Focuses on Smart Cities and Mobility Networks
The Abu Dhabi Infrastructure Summit Day Two addressed smart cities, mobility systems, and sustainable infrastructure development. Twelve partnerships were signed and key discussions focused on future urban design.
du Pay Appoints Roberto Mancone as Chief Executive Officer
du Pay CEO appointment names Roberto Mancone to lead the digital financial services platform through its next growth phase. Mancone brings 25+ years of fintech leadership experience across multiple continents.
PIF Named Official Tournament Supporter of FIFA World Cup 2026
PIF becomes an Official Tournament Supporter of FIFA World Cup 2026 in North America and Asia, partnering with Savvy Games Group and Qiddiya City to drive fan engagement and football growth globally.
MBRF and UNDP to Host Knowledge Summit 2026 in Dubai
MBRF and UNDP will host the 11th Knowledge Summit 2026 on 17-18 November 2026 in Dubai, themed on navigating crises through knowledge-based solutions and fostering innovation for sustainable development.
SADAFCO Demonstrates Hajj Production Readiness During Minister’s Facility Visit
SADAFCO hosted Saudi Arabia’s Minister of Industry and Mineral Resources for an inspection of Hajj production capabilities. The facility produces over 1.7 million liters daily during the pilgrimage season.
Fortinet Reports 20% Revenue Growth in Q1 2026 as Enterprise Cybersecurity Spending Accelerates
Fortinet reported $1.85 billion in Q1 2026 revenue with 20% year-over-year growth, driven by strong enterprise demand for cybersecurity solutions and integrated networking platforms.
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LG Launches Smart HVAC Systems for Saudi Homes as Summer Temperatures Rise
LG Electronics launched smart HVAC systems in Saudi Arabia designed to tackle extreme summer heat while reducing energy consumption. The DUALCOOL Inverter technology and ERV ventilation address both comfort and efficiency challenges.
Mashreq Launches Money Insights for Personal Finance Management in UAE
Money Insights Mashreq launches as a financial management tool integrated into the NEO mobile app. The feature tracks spending across 40+ categories and monitors recurring subscriptions for 1.5 million UAE customers.
Uptime Institute Releases 2026 Annual Outage Analysis Report
Uptime Institute’s eighth annual data center outages report shows outage frequency declining for the fifth straight year, though improvement has slowed. Costs continue rising, with 57 percent reporting outages exceeding $100,000.
Anthropic Launches Claude for Small Business Automation Platform
Anthropic launches Claude for Small Business, an AI platform that automates invoicing, customer management, content creation, and document handling for small enterprises by integrating with existing business tools.
Gradiant Deploys HyperSolved AI Data Center Cooling Solution to Global Hyperscalers
Gradiant deploys HyperSolved, an integrated water cooling platform for AI data centers, to leading global hyperscalers. The solution unifies fragmented water infrastructure into a single system.
STC Group Launches Pulse by Solutions Brand Identity for Regional Expansion
STC Group rebrands Giza Systems as pulse by solutions to strengthen digital integration and expand regional systems integration services following its 2022 acquisition.
MTU engine leasing TRecs investment advances digital engine transition management
MTU engine leasing TRecs investment in the digital platform reduces coordination time and creates unified asset records across the engine leasing lifecycle.
Saudi Arabia Leads AI Adoption With 60% of Companies Reporting Productivity Gains
Saudi Arabia leads global AI adoption with 60% of companies achieving productivity gains, surpassing international averages. The kingdom now faces the challenge of scaling AI into sustainable business value.
SpaceX and Google in Talks Over Orbital Data Center Launch Deal
SpaceX and Google are negotiating a deal to launch orbital data centers in space, positioning the unproven technology as a cornerstone of SpaceX’s investor pitch ahead of a historic IPO.
Dream of the Desert Opens Riyadh Headquarters, Appoints General Manager
Dream of the Desert, Saudi Arabia’s first ultra-luxury train by Arsenale Group, opened its Riyadh headquarters and appointed leadership, marking its entry into the delivery phase before its 2026 debut across 1,300 kilometers of Saudi railway.
MEFMA Members Win Global FM Awards for Excellence 2026
Two MEFMA members received awards at the Global FM Awards of Excellence 2026, reinforcing the Middle East’s rising reputation for facility management innovation. The recognition occurs as the GCC facility management market expands to USD 72 billion by 2028.
HPE Launches Compute Scale-up Server 3250 With 64TB Memory for SAP Workloads
HPE releases the Compute Scale-up Server 3250 with up to 64TB DDR5 memory, designed for SAP workloads and enterprise applications requiring high-speed transactions and real-time analytics.
CEL-SCI Partners with Amarox to Bring Multikine Cancer Therapy to Saudi Arabia
CEL-SCI and Amarox have signed a strategic partnership to develop and distribute Multikine Saudi Arabia cancer immunotherapy under a 50/50 revenue-sharing model, pending SFDA approval.
Vertiv Appoints Frieda He as Chief Procurement Officer
Frieda He Chief Procurement Officer appointment at Vertiv. He brings nearly two decades of global procurement experience from roles at Polestar and Volvo Cars.
98% of Saudi Consumers Want Invisible Payments, but Security Remains Key to Trust
New research shows 98% of Saudi consumers want invisible payments, but security concerns remain the decisive factor. 50% shop online weekly, with 67% planning to increase purchases in the next year.
HITEK AI Launches Sustainability and ESG Consultancy Services in Saudi Arabia
HITEK AI sustainability consultancy expands its Saudi Arabia operations with new sustainability and ESG consultancy services, supporting organizations in carbon reduction and environmental strategy implementation aligned with Saudi Vision 2030.