Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
Japan Sets $252.4 Billion Chip Sales Target by 2040 in Push for AI Dominance
Japan has set a JPY40 trillion ($252.4 billion) chip sales target by 2040, eight times higher than 2020 levels, as part of a government strategy to lead in AI-driven semiconductor production.
US Drafts New AI Rules After Pentagon Cancels $200M Anthropic Contract
The US General Services Administration drafted new guidelines requiring AI suppliers to grant the government an irreversible licence for all lawful uses, following the Pentagon’s cancellation of a $200 million Anthropic contract.
AI Trust Insurers Must Build Before Realizing Full Potential, SAS-IDC Report Finds
A new IDC report commissioned by SAS finds that only 7% of insurers consider themselves transformative in AI, with governance gaps and data immaturity slowing sector-wide adoption.
LG Electronics Presents New Compressor and Motor Technologies at AHR Expo 2026
LG Electronics presented two new component technologies at AHR Expo 2026 in Las Vegas. The BHA Series – DualJet™ and CurvedSpoke™ target efficiency and size reduction in refrigeration and HVAC applications.
ELSEWEDY ELECTRIC Completes EL SAAD Solar Plant in Riyadh with 348.6 MW Capacity
ELSEWEDY ELECTRIC has completed the EL SAAD Solar Plant near Riyadh, delivering 348.6 MW of photovoltaic capacity in just 16.5 months — well ahead of the original 24-month schedule.
Viettel Solutions and Aduna Global Sign Network API Partnership at MWC 2026
Viettel Solutions and Aduna Global signed a network API framework agreement at MWC 2026 in Barcelona, targeting transaction security, fraud detection, and digital identity use cases.
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Huawei Public Services Solution and AI-Powered Demonstration Site Launched at MWC Barcelona 2026
Huawei launched its Global Public Services Solution and an AI-powered demonstration site in Shenzhen’s Longgang district at MWC Barcelona 2026, alongside a new Global Public Service Ecosystem Alliance.
OpenAI Chair Bret Taylor Says AI Enterprise Deployment Is Still in Early Stages Despite Trillion-Dollar Potential
OpenAI chair Bret Taylor and Singtel Singapore CEO Ng Tian Chong discussed the early state of AI enterprise deployment at MWC26 Barcelona, citing trillions in untapped economic value.
Huawei Hosts Fourth Digital Economy Development Forum at MWC Barcelona 2026
Huawei hosted the fourth Digital Economy Development Forum at MWC Barcelona 2026, gathering nearly 100 experts to discuss AI’s role in reshaping the global digital economy.
Infobip Opens New Data Center in Saudi Arabia to Support AI and Digital Sovereignty
Infobip launched a new data center in Saudi Arabia on March 6, 2026, enabling local AI application deployment and supporting national data sovereignty requirements.
Resident Evil Requiem Sells 5 Million Units in One Week After Launch
Capcom said Resident Evil Requiem surpassed 5 million units sold worldwide within days of its February 27, 2026 launch. The title also won four awards at Gamescom 2025 ahead of release.
Huawei AI Banking Solutions Get Major Upgrade at MWC Barcelona 2026
Huawei upgraded its AI banking solutions at MWC Barcelona 2026, cutting AI agent development cycles from months to weeks and reducing response latency by over 60%.
Fakeeh Care Group Posts SAR 3.1 Billion Revenue in FY 2025, Up 11% Year on Year
Fakeeh Care Group reported SAR 3.1 billion in FY 2025 revenue, up 11% year on year, while serving 1.9 million patients across its expanding network of hospitals and clinics in Saudi Arabia.
GSMA Calls for New Regulatory Framework to Govern LEO Satellite Services
The GSMA proposed at MWC26 Barcelona that LEO satellite constellations require new regulatory frameworks, citing consumer protection and investment concerns.
ZTE and SURGE Launch World’s First Commercial 5G FWA 1.4GHz Service in Indonesia
ZTE and SURGE launched the world’s first commercial 5G FWA 1.4GHz service in Indonesia on February 19, 2026, offering speeds up to 100 Mbps at approximately US$6 per month.
Software Escrow Saudi Arabia: How Organisations Can Move from Policy to Practice
Escode’s Middle East director outlines practical steps for organisations in Saudi Arabia to implement software escrow following the CST guideline, covering verification, governance, and SaaS considerations.
W7Worldwide Releases International Women’s Day Video on Women’s Role in Success
W7Worldwide produced a 62-second video for International Women’s Day, depicting four symbolic scenes of women as mothers, wives, daughters, and sisters supporting achievement.
Loyalty Programs Ramadan 2026: GCC Market Set for Record Engagement as Spending Peaks
The GCC loyalty market is projected to reach $3.27 billion in 2025, with Ramadan 2026 expected to drive record engagement across retail, travel, and banking sectors.
Omnix International Awarded Dubai AI Seal by Dubai Centre for Artificial Intelligence
Omnix International received the Dubai AI Seal from the Dubai Centre for Artificial Intelligence on March 5, 2026. The recognition validates the company’s AI delivery capabilities across government and enterprise sectors.
Huawei’s Eric Yang Outlines AI Agents Telecom Strategy at MWC Barcelona 2026
Huawei’s Eric Yang outlined a strategy for telecom operators to integrate AI agents into home services, voice, and enterprise operations at MWC Barcelona 2026. The keynote identified key scenarios where AI can drive new revenue and operational efficiency.
Vertiv PowerBar Track Double Stack Busway System Targets AI Data Center Power Demands
Vertiv has launched a double-stack busway system under the PowerBar Track family, targeting high-density AI data centers with configurations up to 2500A and live reconfiguration capability.
ITU and OECD Chiefs Warn Digital Policy Fragmentation Threatens Global Growth
ITU and OECD chiefs warned at MWC26 that fragmented digital policy risks slowing innovation and widening the digital divide, with 2.2 billion people still offline.