Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
Q1 Smartphone Shipments Fall 6% as Memory Crunch and Middle East Tensions Weigh on Market
Global smartphone shipments fell 6% in Q1 2026, driven by a memory component shortage and weak consumer confidence. Apple was the only top-five vendor to grow its market share.
SuperPark Opens Second Riyadh Location at Abyat Plaza with 35+ Activities
SuperPark is opening its second Riyadh park at Abyat Plaza on Al Khurais Road, offering 35+ activities for all ages with a public soft launch starting April 24, 2026.
Saudi Arabia Runs Hajj Transport Simulation with 3,000 Buses and 1.2 Million Virtual Pilgrims
The General Transport Center ran a virtual Hajj transport simulation with 3,000 buses and 1.2 million virtual pilgrims, testing readiness for the 1447 AH season.
Neo Space Group and Saudia Airlines Launch Free High-Speed In-Flight Internet Across the Fleet
Neo Space Group and Saudia Airlines have launched free high-speed in-flight internet across Saudia’s fleet, using the NSG Skywaves® system powered by SES Open Orbits™ multi-orbit satellite technology.
Philips Appoints Marc Zora as CEO for Middle East, Türkiye and Africa Region
Royal Philips has appointed Marc Zora as CEO for its Middle East, Türkiye and Africa region, effective April 1, 2026. The 15-year Philips veteran previously led Image Guided Therapy across the META region.
e& Money Launches Gold Buying and Selling Service in the UAE via SafeGold Partnership
e& Money has launched a digital gold investment service in the UAE with partner SafeGold, letting customers buy 24-karat gold from just 10 dirhams via the app.
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OECD Survey: AI Adoption in SMEs Is Widespread but Security Gaps and Skills Shortages Persist
A 2026 OECD survey finds 61% of SMEs use AI tools, but 76% remain novice users while nearly half lack basic digital security measures.
Meta Launches Muse Spark AI, First Model From Its New Superintelligence Lab
Meta has released Muse Spark AI, the first model from its new superintelligence lab led by 29-year-old chief AI officer Alexandr Wang. The closed model outperforms Meta’s previous AI releases in writing and reasoning, though it still trails rivals in coding.
Infobip Turns 20 and Launches AgentOS as Agentic AI Moves Into Production
Infobip marks its 20th anniversary with the live launch of AgentOS, a platform designed to deploy agentic AI across enterprise customer communications at scale.
Arm AGI CPU: Arm Enters Data Center Silicon Market With First-Ever CPU for Agentic AI
Arm Holdings has launched the Arm AGI CPU, its first-ever self-designed data center chip, targeting agentic AI infrastructure with more than 2x performance per rack versus x86 platforms.
Freedom International Group Launches FIRSTLINE in Dubai with AED 10M Backing
FIRSTLINE, a performance-based loyalty platform for premium restaurants, launched in Dubai in April 2026 with AED 10 million in backing from Freedom International Group. The platform connects guest spending and social referrals to measurable revenue for venue operators.
Group-IB Joins MITRE Fight Fraud Framework as Initial Data Contributor
Group-IB has joined the MITRE Fight Fraud Framework as an initial data contributor, bringing adversary-driven fraud intelligence from active investigations and law enforcement partnerships.
OMODA & JAECOO UAE Sales Top 3,000 Units as Brands Near One Million Global Milestone
OMODA & JAECOO UAE operations have crossed 3,000 vehicle sales in their first year, while global monthly sales hit a record 61,254 units in March 2026 with 417 percent year-on-year growth.
Saudi Finance Minister to Chair IMF Committee at 2026 IMF-WBG Spring Meetings in Washington
Saudi Finance Minister Mohammed Aljadaan will head the Kingdom’s delegation to the 2026 IMF-WBG Spring Meetings in Washington, D.C., April 13-18, and will chair the IMF’s key policy committee.
LG Electronics Launches Three New Indoor Units for Air-to-Water Heat Pump Systems
LG Electronics introduced three new indoor units for air-to-water heat pump systems at MCE 2026 in Milan. The Combi, Hydro and Control Units share a 2026 iF Design Award-winning design and target European residential installations.
Lenovo Opens Regional Headquarters for Middle East, Turkey, and Africa in Riyadh
Lenovo officially opened its META regional headquarters in Riyadh on April 12, 2026, attended by Saudi Minister of Investment Fahd Al-Seif and senior officials. The move supports Vision 2030 goals and complements existing manufacturing and R&D investments in the Kingdom.
Kanaa E-Commerce Platform Launches in Saudi Arabia with Same-Day Delivery and Extended Warranties
Kanaa, a Saudi-born e-commerce platform, has launched in the Kingdom with same-day delivery, extended warranties, and a mobile-first design targeting reliability-focused shoppers.
ELSEWEDY ELECTRIC Executes Six High-Voltage Substations Across Saudi Arabia
ELSEWEDY ELECTRIC Power Systems Projects is executing six high-voltage substations across Saudi Arabia, working with Saudi Electricity Company, National Grid, Hitachi Energy, and Siemens Energy.
Amazon AI Revenue Tops $15 Billion Annually as AWS Chip Business Doubles
Amazon CEO Andy Jassy disclosed that AI services within AWS now generate over $15 billion annually, with the company committing $200 billion in capital expenditure for 2026.
Apple Leads Global Smartphone Market for First Time in Q1 as Memory Shortage Cuts Shipments 6%
Global smartphone shipments dropped 6% in Q1 2026 as memory shortages and weak consumer demand weighed on the market. Apple led for the first time with 21% share, while Samsung slipped to second.
Saudi Arabia Showcases Digital Transformation and AI Achievements at World Bank Event in Washington
SDAIA and the Digital Government Authority organized the Saudi Day of Digital Transformation and AI at the World Bank headquarters in Washington, presenting the Kingdom’s global rankings and national platform achievements.
SDAIA Joins Global Privacy Assembly, Expanding Saudi Arabia’s Role in International Data Protection
Saudi Arabia’s SDAIA has joined the Global Privacy Assembly, gaining a seat at the table in international personal data protection discussions. The move coincides with the Kingdom’s Year of Artificial Intelligence 2026.