Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
Saudi Arabia Launches Free AI and Cloud Computing Training Program for 20,000 Professionals
Saudi Arabia and Amazon Web Services launched a free online training program targeting 20,000 professionals in artificial intelligence and cloud computing, supporting national digital workforce development under Vision 2030.
National Cybersecurity Authority Launches Exercise for 1447 AH Hajj Season
Saudi Arabia’s National Cybersecurity Authority conducts a major two-day exercise involving over 1,000 cybersecurity specialists from 300 national entities to prepare for the upcoming Hajj season.
KACST Launches Chipathon 2 Hackathon for Semiconductor Design Talent
KACST launches the second edition of Chipathon hackathon semiconductor competition, bringing 50 university students together to design electronic chips for AI applications with real-world industrial simulation and manufacturing opportunity for winners.
Qualcomm Reports Revenue Decline Amid Memory Chip Shortage
Qualcomm’s fiscal Q2 revenue fell 3 percent amid industry memory chip shortage, with the company forecasting lower-than-expected Q3 sales as smartphone demand weakens.
FCC Updates Satellite Broadband Rules to Unlock Seven-Fold Capacity Boost
The FCC approved new rules replacing outdated satellite energy limits with modern performance-based criteria, potentially delivering seven times more usable capacity and over $2 billion in economic benefits without launching additional satellites.
Apple Sets Q2 Record with $111.1 Billion Revenue Despite iPhone Supply Constraints
Apple achieved $111.1 billion in Q2 revenue, up 17 percent year-over-year, driven by iPhone demand and services growth. The company faces ongoing supply constraints but maintains strong momentum in Greater China.
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elm Wins Corporate Culture Award at PIF Partners’ Forum
elm received the Corporate Culture Award at the PIF Partners’ Forum in Riyadh, recognizing its strong employee engagement and workplace environment standards.
Eastern Region Municipality Showcases Geospatial Solutions at Global Forum
Eastern Region Municipality participated in the Geospatial World Forum 2026 in Amsterdam, showcasing digital transformation initiatives and urban planning projects aligned with Saudi Vision 2030 objectives.
Middle East Geopolitical Unrest Causes 4.8% Drop in Air Cargo Demand
Air cargo demand fell 4.8% in March 2026 as Middle East geopolitical disruptions hammered demand in major Gulf hubs. Regional performance shows steep Middle East declines offset by Africa-Asia trade route gains.
Artefact Named Google Cloud Artificial Intelligence Partner of the Year 2026 for EMEA
Artefact Google Cloud AI Partner wins award for EMEA, recognizing its work deploying production-grade AI solutions across Middle Eastern industries. The company launches a dedicated Gemini Enterprise practice to accelerate agentic AI adoption.
Dubai Sets World Record for Electricity Service Continuity at 49 Seconds Downtime Annually
Dubai’s electricity utility sets a new world record with just 49 seconds of customer downtime annually, far surpassing global peers. The achievement leverages advanced Smart Grid technology and automated restoration systems.
FedEx Strengthens Middle East Logistics Network Amid Tighter Air Cargo Capacity
FedEx expands Middle East logistics capabilities as air cargo capacity declines 20% year-over-year, implementing alternative gateways and digital solutions to maintain healthcare supply chain continuity.
Webooking Expands Globally to Four Continents, Surpasses 3 Billion Riyal Transaction Value
Saudi platform Webooking expands to four continents with 3 billion riyals in transactions and 17 million users across 180 countries.
BridgeWise Partners with X to Deliver Social Sentiment Analysis for Global Markets
BridgeWise and X announced a strategic partnership to deliver social sentiment analysis for global markets, processing 1.75 million investment-related posts daily with real-time insights for institutional investors.
OpenAI and AWS Launch Bedrock Managed Agents for Enterprise AI Workflows
OpenAI and AWS unveiled Bedrock Managed Agents, integrating frontier models with enterprise-grade runtime controls for cloud-based AI agent deployment. The managed service eliminates custom engineering for enterprises building autonomous workflows within AWS infrastructure.
Saudi Tourism Minister Visits Spark by Hilton Makkah Ahead of Official Opening
Saudi Arabia’s Tourism Minister visited the upcoming Spark by Hilton Makkah Aziziyah, the first Spark by Hilton property in the Middle East and Africa. The 329-room hotel opens later in 2026.
Automotive Dealers Digitisation: Majority of Middle East Auto Dealers Adopt Strategies to Boost Operations
Ninety-four percent of Middle East automotive dealers now turn to data and digital tools to combat operational inefficiency and stay competitive in a rapidly growing market.
Vertiv Acquires Strategic Thermal Labs to Strengthen Liquid Cooling Capabilities
Vertiv completes acquisition of Strategic Thermal Labs to enhance liquid cooling capabilities for AI and high-performance computing infrastructure. The deal strengthens cold-plate design and thermal validation expertise.
MOBH Holding Group Launches Sophia AI, Region’s First Agentic AI HR Officer
MOBH Holding Group introduces Sophia AI, the region’s first Agentic AI HR Intelligence Officer, expanding AI integration across workforce planning, recruitment, and employee lifecycle management.
Mashreq and Cashew Expand Embedded Lending Framework in UAE
Mashreq and Cashew deepen collaboration to launch embedded lending UAE framework, enabling customers to access financing up to AED 150,000 with near-instant approvals for essential purchases.
Saudi Tourism Development Fund Launches Hackathon Series Across 8 Cities
Saudi Tourism Development Fund opens registration for hackathons across eight Kingdom cities, seeking innovative solutions to enhance tourism experiences and services in line with Vision 2030 targets.
Eastern Region Authority Launches Upgraded 940 Emergency Center With Smart Technology
The Eastern Region Authority has inaugurated an upgraded 940 emergency center with advanced smart technology to improve complaint processing and municipal service delivery.