Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
Bel Group and Kiri Distribute 20,000 Meal Kits in Jeddah for Third Consecutive Ramadan
Bel Group and Kiri distributed 20,000 fresh meal kits in Jeddah during Ramadan 2026, marking the third consecutive year of the initiative with the Saudi Food Bank.
Ericsson and Future Technologies Venture Expand Collaboration to Accelerate Private 5G Adoption in North America
Ericsson and Future Technologies Venture have expanded their collaboration to accelerate private 5G adoption across North American manufacturing, logistics, energy, and transport sectors.
HAVELSAN Breaks Ground on 17,000 sq m Flight Simulator Production Center in Ankara
HAVELSAN has broken ground on a 17,000 sq m flight simulator production facility in Ankara, targeting output of more than 30 simulators annually by 2027.
Nvidia Backs Thinking Machines Lab with Investment and 1-Gigawatt Compute Deal
Nvidia and Thinking Machines Lab have struck a multiyear deal to deploy at least 1 gigawatt of Vera Rubin compute power, alongside a direct investment in the Mira Murati-led AI startup.
Pakistan 5G Spectrum Auction Raises $507 Million as Jazz, Ufone and Zong Secure 480MHz
Pakistan’s 5G spectrum auction raised $507 million, with Jazz, Ufone, and Zong securing 480MHz across four frequency bands on March 11, 2026.
China Restricts OpenClaw AI Platform Use Across Government Agencies and State Banks
China has moved to restrict OpenClaw AI platform use across government agencies and state banks, citing data security risks. Tencent and JD.com continue to promote adoption in the private sector.
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Open World Names Dr. Salman Al-Khaldi to Lead Saudi Arabia Operations as RWA Tokenization Center Launches
Open World Ltd. has appointed Dr. Salman Al-Khaldi as Regional President to lead the RWA Tokenization Center of Excellence in Saudi Arabia, set to launch in 2026.
Bupa Arabia Reports 41% Female Promotion Rate and 50+ Women in Leadership Roles
Bupa Arabia recorded a 41% female promotion rate — its highest in company history — and placed more than 50 women in leadership roles as part of a structured diversity strategy.
Anthropic Files Lawsuit Against Trump Administration Over National Security Blacklisting
Anthropic filed a lawsuit on March 9, 2026, challenging the Trump administration’s decision to designate the AI company as a national security supply-chain risk. The move follows the cancellation of a $200 million Pentagon contract.
Saudi Arabia AI Sector Reaches $9.1 Billion in Funding as Cabinet Designates 2026 the Year of Artificial Intelligence
Saudi Arabia’s Cabinet designated 2026 as the Year of Artificial Intelligence as the Kingdom ranked 14th globally in the 2025 AI Index and AI companies secured $9.1 billion in funding.
Ambassadori Island Batumi and Arup Unveil Smart City Vision at MIPIM 2026
Ambassadori Island Batumi presented its 84-hectare smart city masterplan at MIPIM 2026 in Cannes, developed in collaboration with engineering firm Arup. The Black Sea project includes a 58-floor residential tower and targets international investors.
IATA Safety Report 2025: Aviation Fatalities Rise to 394 as Sector Maintains Strong Overall Record
IATA’s 2025 safety report recorded 394 onboard fatalities and 51 total accidents across 38.7 million flights, with GPS spoofing incidents surging 193% year-on-year.
Samsung Seeks AI Partnerships to Close Gap with Apple in Smartphone Market
Samsung Electronics is seeking new AI developer partnerships to strengthen its Galaxy lineup against Apple, as global smartphone shipments face a forecast 12 percent decline in 2026.
ScreenCheck and ICT Sign Strategic Partnership to Strengthen Enterprise Security Across the GCC
ScreenCheck and Integrated Control Technology (ICT) signed a strategic partnership on March 10, 2026, to expand access control and unified security management solutions across the GCC.
Vertiv PowerUPS 6000 Industrial UPS Targets Manufacturing, Oil and Gas, and Other Demanding Sectors
Vertiv launched the PowerUPS 6000 Industrial UPS on March 10, 2026, targeting oil and gas, manufacturing, and other sectors requiring power protection in environments reaching 50 °C.
Fortinet Report: AI-Driven Cyber Fraud Surges 1,300% as Saudi Arabia Tops MEA Cybersecurity Rankings
Fortinet’s 2026 report documents a 1,300% global rise in AI-driven cyber fraud and places Saudi Arabia among the top cybersecurity performers in the Middle East and Africa.
Motion Motors Launches SOUEAST S08 DM in Jeddah and Signs Dealer Agreements Across Western Saudi Arabia
Motion Motors officially launched the SOUEAST S08 DM in Jeddah in March 2026, signing dealer agreements to expand the Chinese brand’s presence across Western Saudi Arabia.
Motion Motors Opens First SOUEAST Showroom in Jeddah on King Abdulaziz Road
Motion Motors opened the first SOUEAST showroom in Jeddah on March 5, 2026, on King Abdulaziz Road. The 1,185-square-meter facility is among the largest SOUEAST showrooms in the region.
Yalla Group Revenues Hit Record AED 1.256 Billion in 2025 as Users Reach 44.8 Million
Yalla Group revenues hit a record AED 1.256 billion in 2025, with net income rising 10.4% and monthly active users reaching 44.8 million in Q4.
KFSH Genomic Medicine Center Joins Global Alliance for Genomics and Health
King Faisal Specialist Hospital’s Genomic Medicine Center of Excellence has joined GA4GH, a 500-member global consortium setting standards for genomic data sharing. The move expands KFSH’s research capabilities and reinforces Saudi Arabia’s position in precision medicine.
Meta and AMD Strike $100 Billion GPU Deal to Challenge Nvidia’s Dominance
Meta Platforms and AMD have agreed to a GPU deployment deal worth more than $100 billion over five years, with Meta potentially receiving a 10 percent stake in the chipmaker.
India Earmarks $360 Million in Subsidies for Chip Assembly Venture with Mitsui and Aoi Electronics
India approved $360 million in subsidies for Mitsui & Co and Aoi Electronics to build a chip assembly facility with Kaynes Semicon in Gujarat, targeting operations by late 2026.