Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
AI Energy Intelligence: Bidgely Presents Strategy at IDC European Utilities Xchange in Valencia
Bidgely delivered the keynote at IDC European Utilities Xchange in Valencia, presenting AI-driven strategies for smart meter data and grid modernization across Europe.
PLD Space Closes €180M Series C Led by Mitsubishi Electric to Scale Global Launch Operations
PLD Space closed a €180 million Series C round led by Mitsubishi Electric, bringing total funding past €350 million as the company targets 30 launches per year by 2030.
Audi Q3 Third Generation Launches in Saudi Arabia Starting at SAR 199,500
The third-generation Audi Q3 is now on sale in Saudi Arabia, starting at SAR 199,500, with two engine options and both SUV and Sportback body styles available.
Aduna Expands Network API Ecosystem at MWC 2026, Reaching 40 Mobile Operators
Aduna reported major ecosystem growth at MWC 2026, partnering with 15 providers and expanding network API coverage to 40 mobile operators across 13 countries.
JOSLOC and NANCO Sign Lubricants Supply Agreement to Support Saudi Fleet Operations
JOSLOC and NANCO signed a strategic lubricants supply agreement on February 8, 2026, in Riyadh. The deal covers advanced lubricant solutions for NANCO’s fleet operations across Saudi Arabia.
Panasonic Launches Green Impact Ramadan Campaign to Promote Sustainable Living Across the GCC
Panasonic Middle East & Africa has launched the Green Impact Ramadan Campaign, a GCC-wide sustainability initiative encouraging eco-friendly habits during the Holy Month.
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LG Electronics Presents HVAC Component Solutions for Commercial Rooftop Systems at AHR Expo 2026
LG Electronics showcased a full lineup of HVAC component solutions for commercial rooftop systems at AHR Expo 2026 in Las Vegas. The portfolio includes scroll compressors, EC motors, and EC fans designed to meet upcoming 2029 U.S. DOE energy standards.
European Telecom Chiefs Warn Sovereignty Gap Is Widening at MWC26
Top executives from Deutsche Telekom, Telefonica, and Eutelsat warned at MWC26 that Europe risks falling further behind the US and China on digital sovereignty.
From Connectivity to Intelligence: MTN’s Bold Leap from Telco to Techco at MWC 26
Explore MTN Group’s strategic evolution as CEO Ralph Mupita discusses AI, fintech, and the $2.2B IHS Towers deal at MWC 26 Barcelona.
AI Network Capacity Crisis Looms as Personal CEO Warns of Perfect Storm at MWC26
Personal CEO Roberto Nobile warned at MWC26 that AI-driven inference traffic could require a ninefold increase in network capacity, creating a perfect storm for operators already facing flat revenues.
LG Electronics Targets Twofold Revenue Growth in Saudi Arabia, India and Brazil by 2030
LG Electronics reported combined revenue of KRW 6.2 trillion in Saudi Arabia, India and Brazil in 2025, up more than 20 percent from 2023. The company targets a doubling of that figure by 2030 through localized production and market-specific strategies.
Sumerge and HRSD Mark Completion of Three Digital Transformation Projects in Riyadh
Sumerge and the Ministry of Human Resources and Social Development marked the completion of three digital government projects in Riyadh on March 1, 2026. The projects support Saudi Vision 2030 objectives.
Bel Group Saudi Food Bank Partnership Delivers 20,000 Ramadan Meal Boxes in Jeddah
Bel Group and Saudi Food Bank packed 20,000 fresh Iftar meal boxes in Jeddah for the third consecutive Ramadan, with participation from Chef Sama Jaad and teams from both organizations.
Saudi Families Shift to Practical Gifts Ahead of Ramadan, YouGov Study Shows
Saudi families favor practical gifts for Ramadan, per YouGov study. AliExpress lowers shipping thresholds to aid preparations.
Emerson Receives Saudi Aramco Local Manufacturers Quality Award
Emerson received the 2026 Saudi Aramco Local Manufacturers Quality Award for manufacturing excellence. The recognition aligns with Vision 2030 and IKTVA program goals.
Bitget Launches Multi-Asset Trading for MENA Users in Traditional Finance
Bitget has launched multi-asset trading for MENA users, integrating TradFi assets like forex and equities with cryptocurrencies. The single-platform approach streamlines access amid regional market diversity.
Aljazira Bank Contributes SAR 1 Million to Ehsan Platform’s Sixth Charity Campaign
Aljazira Bank donated SAR 1 million to the Ehsan platform for the sixth National Charity Campaign. The move supports Saudi Vision 2030 community goals.
Euro Systems Opens First Saudi Showroom in Riyadh’s Al Olaya District
Euro Systems has opened its first Saudi showroom in Riyadh’s Al Olaya district, offering a 3,552 sq. ft. space for architectural product evaluation and technical consultation.
SADAFCO Declares SAR 8 Per Share Cash Dividend as Full-Year Revenue Reaches SAR 2.99 Billion
SADAFCO approved a cash dividend of SAR 8 per share for H2 2025, totalling SAR 255.7 million. Full-year revenue reached SAR 2.99 billion, up 4.96% year-on-year.
DCO Launches Global Campaign to Counter Online Misinformation and Strengthen Digital Trust
The Digital Cooperation Organization launched the global ‘Ctrl+Alt+Delete’ campaign on February 19, 2026, to counter online misinformation and build trust in the digital economy.
Rasan Reports 82% Revenue Growth to SAR 653 Million in FY 2025
Rasan Information Technology Company reported 82% revenue growth to SAR 653 million in FY 2025, with adjusted net income nearly tripling to SAR 269 million.
Riyadh Office Market Maintains 98.5% Grade A Occupancy in Q4 2025
Riyadh’s office market maintained 98.5% Grade A occupancy in Q4 2025, with average rents reaching SAR 2,333 per sqm and over 700 global companies establishing regional headquarters.