Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
Saudi Arabia Appointed Vice-Chair of ITU Council
Saudi Arabia ITU Council appointment as Vice-Chair represents the international community’s trust in the Kingdom’s role in advancing global telecommunications objectives and digital policy leadership.
Manish Bakshi Marks 25 Years Leading BenQ Middle East Operations
Manish Bakshi BenQ leadership spans 25 years of market excellence. BenQ Managing Director Manish Bakshi completed 25 years with the company, establishing market leadership across projectors, interactive displays, and corporate collaboration solutions in the Middle East.
Aramex Completes AED 815 Million Debt Refinancing in UAE
Global logistics provider Aramex successfully completes Aramex debt refinancing of AED 815 million, consolidating USD and GBP loans into a single UAE-domiciled facility with sustainability-linked terms.
Inception to Showcase AI Products at Make it in the Emirates 2026
Inception AI products will be displayed at Make it in the Emirates 2026, showcasing leadership intelligence and investment decision-making solutions at ADNEC Centre Abu Dhabi from May 4-7.
e& Reports AED 19.4 Billion Revenue in Q1 2026 with 15.1% Growth
e& posts AED 19.4 billion Q1 2026 revenue with 15.1% yearly growth, reaching 248 million subscribers across its global operations and maintaining strong profitability.
stc Group Reports 12% Net Profit Growth in Q1 2026 as Revenues Hit 19.9 Billion
stc Group reported Q1 2026 net profit growth of 12% with revenues reaching 19.9 billion riyals, driven by operational efficiency and expanded regional digital infrastructure projects.
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Axxion Launches Independent Motor Claims Service for UAE Insurers
Axxion Claims Settlement Services launches as an independent motor claims management company in Dubai, serving UAE insurers with end-to-end claims handling backed by proprietary technology and experienced operators.
JICE and ne’ma Expand Food Loss Reduction Education Program in UAE
JICE and ne’ma expanded their food loss reduction education program in the UAE, engaging 51 students through a digital learning initiative that recorded significant environmental and economic benefits.
Kingston DC3000ME Gen5 30.72TB SSD Now Available for Data Centers
Kingston expands its DC3000ME Gen5 SSD lineup with a new 30.72TB capacity option, delivering 14GB/s speeds and 2.8M IOPS for enterprise data center workloads including AI and cloud computing.
HPE Powers Red Sea Global’s Luxury Resort Expansion with AI-Native Networking
HPE deploys self-driving AI-native network infrastructure for Red Sea Global’s luxury resort expansion, supporting $8.79 billion in economic contribution and 120,000 jobs aligned with Vision 2030 objectives.
Saudi Arabia’s Top 100 Brands Reach $131.9 Billion in Value
Saudi Arabia top brands combined for USD 131.9 billion in value, a 13% annual increase, with Aramco, stc, and Al Rajhi Bank leading across sectors.
Cisco Powers Qiddiya’s New Smart Office Headquarters in Riyadh
Cisco technology powers Qiddiya Investment Company’s new smart office in Riyadh, featuring advanced networking, collaboration tools, and IoT sensors designed to create an efficient, human-centric workspace.
Johnson Controls Launches Balanced Cooling Solution in UAE to Address Low Delta T Efficiency Issues
Johnson Controls introduced Balanced Cooling solution, a smart cooling system designed to eliminate low Delta T inefficiencies in UAE buildings connected to centralized systems, reducing energy waste by up to 40% and eliminating surcharges.
Banking Cybersecurity Threats Accelerate as Advanced AI Models Expand Vulnerability Detection
Advanced AI models like Anthropic’s Claude Mythos are accelerating the detection and exploitation of software vulnerabilities, intensifying banking cybersecurity threats at a scale financial institutions have never faced.
CargoTech Uses AI and Real-Time Data to Help Air Cargo Companies Navigate Middle East Crisis
CargoTech member companies are deploying AI-powered tools to help air cargo firms manage Middle East disruptions through real-time data access and scenario planning capabilities.
Bosch Strategy 2030 Targets Growth Through Innovation and Cost Competitiveness
Bosch Strategy 2030 positions the company for profitable growth through innovation investments in sensor technology, artificial intelligence, and electromobility while improving cost competitiveness. The company projects 2026 sales growth of 2–5 percent with EBIT margins of 4–6 percent.
Emirates Driving Company Reports 13% Revenue Growth in Q1 2026
Emirates Driving Company Q1 2026 posts 13% revenue growth to AED 189 million, driven by driver training demand and mobility platform expansion across the UAE market.
Tamatem Acquires Playable Factory to Lead AI-Powered Gaming in Middle East
Tamatem completes acquisition of Turkish interactive ads platform Playable Factory, marking the region’s first major push into AI-driven game development and reaching $25M in total funding.
MEPRA Awards 2026 Opens Entries as Association Marks 25 Years
MEPRA opens submissions for its 2026 awards ceremony in Dubai, featuring enhanced judging processes and a new trophy design to commemorate the association’s 25-year milestone.
SADAFCO Reports 8.3% Revenue Growth in Q1 2026
SADAFCO Q1 2026 results show revenue of SAR 737.6 million, up 8.3% quarter-on-quarter, with net profit reaching SAR 82.0 million. Growth came from e-commerce expansion and favorable seasonal demand.
Open Accelerator Joins Google for Startups Cloud Program
The Open Accelerator partners with Google for Startups Cloud Program to provide early-stage AI founders access to cloud credits, expert training, and enterprise-grade resources. The initiative aims to transform prototypes into production-ready, secure, and compliant solutions.
Deloitte Launches 5th Edition of Technology Fast 50 Program
Deloitte Middle East launched the 5th edition of Technology Fast 50, celebrating the region’s fastest-growing tech companies and spotlighting founders shaping the Middle East’s innovation future.