Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
STC Group Launches Pulse by Solutions Brand Identity for Regional Expansion
STC Group rebrands Giza Systems as pulse by solutions to strengthen digital integration and expand regional systems integration services following its 2022 acquisition.
MTU engine leasing TRecs investment advances digital engine transition management
MTU engine leasing TRecs investment in the digital platform reduces coordination time and creates unified asset records across the engine leasing lifecycle.
Saudi Arabia Leads AI Adoption With 60% of Companies Reporting Productivity Gains
Saudi Arabia leads global AI adoption with 60% of companies achieving productivity gains, surpassing international averages. The kingdom now faces the challenge of scaling AI into sustainable business value.
SpaceX and Google in Talks Over Orbital Data Center Launch Deal
SpaceX and Google are negotiating a deal to launch orbital data centers in space, positioning the unproven technology as a cornerstone of SpaceX’s investor pitch ahead of a historic IPO.
Dream of the Desert Opens Riyadh Headquarters, Appoints General Manager
Dream of the Desert, Saudi Arabia’s first ultra-luxury train by Arsenale Group, opened its Riyadh headquarters and appointed leadership, marking its entry into the delivery phase before its 2026 debut across 1,300 kilometers of Saudi railway.
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MEFMA Members Win Global FM Awards for Excellence 2026
Two MEFMA members received awards at the Global FM Awards of Excellence 2026, reinforcing the Middle East’s rising reputation for facility management innovation. The recognition occurs as the GCC facility management market expands to USD 72 billion by 2028.
HPE Launches Compute Scale-up Server 3250 With 64TB Memory for SAP Workloads
HPE releases the Compute Scale-up Server 3250 with up to 64TB DDR5 memory, designed for SAP workloads and enterprise applications requiring high-speed transactions and real-time analytics.
CEL-SCI Partners with Amarox to Bring Multikine Cancer Therapy to Saudi Arabia
CEL-SCI and Amarox have signed a strategic partnership to develop and distribute Multikine Saudi Arabia cancer immunotherapy under a 50/50 revenue-sharing model, pending SFDA approval.
Vertiv Appoints Frieda He as Chief Procurement Officer
Frieda He Chief Procurement Officer appointment at Vertiv. He brings nearly two decades of global procurement experience from roles at Polestar and Volvo Cars.
98% of Saudi Consumers Want Invisible Payments, but Security Remains Key to Trust
New research shows 98% of Saudi consumers want invisible payments, but security concerns remain the decisive factor. 50% shop online weekly, with 67% planning to increase purchases in the next year.
Most read in Economy & Business
- Saudi Businesses Expand Investment in Agentic AI for Enterprise Operations
- Bupa Arabia Concludes Bupa Padel 2026 Tournament in Riyadh
- iSolution Earns Great Place to Work Certification in Saudi Arabia and UAE
- Fortinet and Aramco Sign Agreement to Expand Industrial Cybersecurity in Saudi Arabia
- ELSEWEDY ELECTRIC PSP and Sinohydro Sign $2.2B Rabigh 2 IPP Expansion Contract
HITEK AI Launches Sustainability and ESG Consultancy Services in Saudi Arabia
HITEK AI sustainability consultancy expands its Saudi Arabia operations with new sustainability and ESG consultancy services, supporting organizations in carbon reduction and environmental strategy implementation aligned with Saudi 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.
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.