Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
Phoenix Group Partners with DC Max on $8 Billion European AI Data Center Platform
Abu Dhabi-based Phoenix Group partners with DC Max to develop an 18MW AI data center in Lyon, France, launching a $8 billion European expansion platform targeting over 1GW of capacity.
Apple and Intel Reach Preliminary Chip Manufacturing Agreement
Apple and Intel reached a preliminary agreement for chip manufacturing, reducing Apple’s dependence on TSMC while strengthening Intel’s foundry business.
Talabat Q1 2026 Results Show 18% GMV Growth Amid Strategic Investments
Talabat reported Q1 2026 GMV growth of 18% and increased revenue by 23%, while executing strategic investments worth 120 million dollars to build its daily app platform across the Middle East and North Africa.
Technology Convergence Becomes Key to Competitive Advantage, WEF Report Shows
A World Economic Forum report finds competitive advantage is shifting from owning technologies to combining them. Organizations that integrate AI, robotics and advanced systems across operations are already gaining an edge.
Elon Musk Dissolves xAI as Independent Company, Integrates into SpaceX
Elon Musk announced xAI will cease operations as an independent company and integrate fully into SpaceX. The division will now operate under the SpaceXAI brand, consolidating AI development with spacecraft and infrastructure projects.
Desert Technologies CEO Khaled Sharbatly Joins Young Global Leaders 2026 Program in Geneva
Desert Technologies CEO Khaled Sharbatly participated in the World Economic Forum’s Young Global Leaders 2026 program in Geneva, emphasizing the importance of responsibility-driven leadership and international collaboration.
Ad
ADPIC Launches Unified Governance Framework to Accelerate Infrastructure Delivery
Abu Dhabi’s ADPIC launches a unified governance framework with 14 government entities to accelerate infrastructure approvals and delivery across the emirate during ADIS 2026.
Hisense Opens New Dubai Showroom and Care Hub to Expand UAE Presence
Hisense UAE expansion continues with new Dubai showroom in Bur Dubai and dedicated Care Hub near the airport, reinforcing the company’s regional retail and after-sales infrastructure.
Kingston Ships 100 Million A400 SATA SSDs, Marks Storage Milestone
Kingston Digital announced it has shipped over 100 million units of its A400 SATA SSD since 2017. The drive offers read speeds of 500MB/s and write speeds of 450MB/s.
Nutanix Expands Cloud Platform With AI and Sovereign Control Capabilities
Nutanix announced new capabilities for its Cloud Platform including AI infrastructure support, expanded storage features, and sovereign cloud controls. The updates address growing demand for flexible infrastructure as organizations modernize and manage complex cloud environments.
Select Property Launches Vita Living Circle Square North in Manchester for Saudi Investors
Select Property Manchester launches Vita Living Circle Square North in Manchester, a 417-apartment development targeting Saudi investors seeking managed international real estate opportunities aligned with Vision 2030 priorities.
Snap Maher Academy Launches in Saudi Arabia to Train Digital Marketers
Snap Inc. launched Snap Maher Academy, a four-week training program for 50 selected marketing professionals from leading Saudi organizations. The initiative aims to advance full-funnel marketing strategies and strengthen the Kingdom’s digital marketing ecosystem.
Nicolas Sibuet Named Chief Financial & Corporate Development Officer at Aramex
The Nicolas Sibuet Aramex appointment sees Nicolas Sibuet appointed as Chief Financial and Corporate Development Officer, effective 8 May 2026. Sibuet previously served as Acting CEO and brings over 30 years of international leadership in finance and strategy.
Intersec Saudi Arabia 2026 Expands to Record Size With 500+ Exhibitors
Intersec Saudi Arabia 2026 will host over 25,000 visitors and 500+ exhibitors at Riyadh Front from November 16-18, with exhibition space expanded by 40%. The Kingdom’s security market is projected to reach USD 3.4 billion by 2030.
Abu Dhabi Infrastructure Summit Brings Together Developers and Investors for $57 Billion Urban Agenda
Abu Dhabi brings together major developers, investors, and government bodies for the Infrastructure Summit on May 12-14 to advance a $57 billion urban development agenda.
Rowad Modern Engineering Completes Ministry of Culture Headquarters in Diriyah
Rowad Modern Engineering finishes the Ministry of Culture headquarters in Diriyah, a 36,000-square-meter facility combining contemporary architecture with Najdi heritage design. The project achieved LEED Gold certification and aligned with Saudi Vision 2030 objectives.
specialized by stc Deploys Mission-Critical Network for Hajj 1447H Operations
specialized by stc Hajj deploys mission-critical communications infrastructure for Hajj 1447H, featuring the Hadath operations platform and Business-Critical Network to ensure continuous connectivity and enhanced operational safety.
GSMA CEO John Hoffman Steps Into Chair Role; Sianne Ryder Named New CEO
GSMA Ltd CEO John Hoffman transitions to newly created chair role effective July 2026. Sianne Ryder named CEO of Events and Industry Services in major leadership restructure.
Huawei Cloud Appoints GAPP as Official Distributor in Saudi Arabia
Huawei Cloud Saudi Arabia appoints GAPP as official distributor, bringing AI and cloud solutions to Saudi enterprises with Class C compliance certification and disaster recovery capabilities.
HUMAIN ONE Launches as Enterprise AI Operating System Backed by AWS
Humain and AWS announce HUMAIN ONE, an integrated enterprise AI operating system for building and scaling generative AI agents globally, with availability through AWS Marketplace.
Emirates Restores 96% of Global Network Following Disruption
Emirates has restored 96% of its global network following disruption, now serving 137 destinations with flexible booking options and enhanced rewards for passengers.
Erth Abu Dhabi Receives Emiratisation Award for Second Consecutive Year
Erth Abu Dhabi receives its second consecutive Emiratisation Award, marking sustained excellence in developing UAE national talent within the hospitality sector.