Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
Huawei Appoints Corey Deng as Chief Cybersecurity and Privacy Officer for Middle East and Central Asia
Huawei appoints Corey Deng as Chief Cybersecurity and Privacy Officer for the Middle East and Central Asia region. Deng brings 18 years of experience within the company across multiple leadership roles.
ASMO Commences Construction of 1.4 Million Square Meter Logistics Hub at SPARK
ASMO, the Aramco-DHL joint venture, has begun construction of a 1.4 million square meter logistics hub at SPARK with Arcapita funding. The facility will serve the energy and industrial sectors.
GISEC GLOBAL 2026 Cybersecurity Summit Set for Dubai in September
GISEC GLOBAL 2026 cybersecurity conference takes place September 16-18 in Dubai, bringing together regional leaders to address escalating threats to critical infrastructure and financial systems.
LG Electronics Reports Q1 2026 Revenue of $16.24 Billion
LG Electronics achieved record first-quarter revenue of $16.24 billion in 2026, with home appliances and vehicle solutions driving growth to $6.84 billion combined.
BCG’s Jeel Tamooh Enters 8th Year, Nurturing Saudi Arabia’s Rising Leaders
Boston Consulting Group launched the 8th edition of its flagship Jeel Tamooh leadership development program, welcoming over 150 participants with equal gender representation. The program has impacted more than 850 students since 2019, preparing young professionals for influential roles across Saudi Arabia.
- Ad
IBM and Aramco Announce AI and Industrial Innovation Collaboration
IBM and Aramco announced a collaboration to explore artificial intelligence, automation, and advanced technologies in industrial applications. The partnership builds on nearly 80 years of working together since 1947.
Najm Launches ‘We Care’ Strategy with 20 Initiatives to Strengthen Insurance Sector
Najm for Insurance Services launches its 2025-2030 ‘We Care’ strategy with 20 initiatives aimed at strengthening the insurance ecosystem, reducing traffic accidents by 30 percent, and delivering SAR 15 billion in sector savings by 2030.
SAS Expands AI Agents Portfolio With Supply Chain and Worker Safety Solutions
SAS expanded its AI agents portfolio with new industry-specific solutions designed to address barriers preventing successful artificial intelligence deployment. The Supply Chain Agent and Worker Safety offerings are now available globally.
Saudi Ministry of Hajj Launches Masar Nusuk Platform for Digital Pilgrimage Services
Saudi Arabia’s Ministry of Hajj and Umrah has launched the Masar Nusuk platform to automate pilgrimage procedures and serve over 51 million users globally with digital services.
Deep Tech Commercialization Bootcamp: KACST Launches Initiative with 50+ Research Teams
KACST and the Research, Development and Innovation Authority launched the Deep Tech Commercialization Bootcamp on May 4, 2026, engaging 50+ research teams to develop skills for bringing prototypes to market.
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
MENA Fintech Sector Strengthens Structural Foundations Amid Funding Challenges
Arthur D. Little report shows MENA fintech sector strengthened in 2025 despite global funding headwinds, with 77% of leaders rating sector strength positively and venture capital reaching 3.8 billion dollars regionally.
Saudi Arabia Launches Free AI and Cloud Computing Training Program for 20,000 Professionals
Saudi Arabia and Amazon Web Services launched a free online training program targeting 20,000 professionals in artificial intelligence and cloud computing, supporting national digital workforce development under Vision 2030.
National Cybersecurity Authority Launches Exercise for 1447 AH Hajj Season
Saudi Arabia’s National Cybersecurity Authority conducts a major two-day exercise involving over 1,000 cybersecurity specialists from 300 national entities to prepare for the upcoming Hajj season.
KACST Launches Chipathon 2 Hackathon for Semiconductor Design Talent
KACST launches the second edition of Chipathon hackathon semiconductor competition, bringing 50 university students together to design electronic chips for AI applications with real-world industrial simulation and manufacturing opportunity for winners.
Qualcomm Reports Revenue Decline Amid Memory Chip Shortage
Qualcomm’s fiscal Q2 revenue fell 3 percent amid industry memory chip shortage, with the company forecasting lower-than-expected Q3 sales as smartphone demand weakens.
FCC Updates Satellite Broadband Rules to Unlock Seven-Fold Capacity Boost
The FCC approved new rules replacing outdated satellite energy limits with modern performance-based criteria, potentially delivering seven times more usable capacity and over $2 billion in economic benefits without launching additional satellites.
Apple Sets Q2 Record with $111.1 Billion Revenue Despite iPhone Supply Constraints
Apple achieved $111.1 billion in Q2 revenue, up 17 percent year-over-year, driven by iPhone demand and services growth. The company faces ongoing supply constraints but maintains strong momentum in Greater China.
elm Wins Corporate Culture Award at PIF Partners’ Forum
elm received the Corporate Culture Award at the PIF Partners’ Forum in Riyadh, recognizing its strong employee engagement and workplace environment standards.
Eastern Region Municipality Showcases Geospatial Solutions at Global Forum
Eastern Region Municipality participated in the Geospatial World Forum 2026 in Amsterdam, showcasing digital transformation initiatives and urban planning projects aligned with Saudi Vision 2030 objectives.
Middle East Geopolitical Unrest Causes 4.8% Drop in Air Cargo Demand
Air cargo demand fell 4.8% in March 2026 as Middle East geopolitical disruptions hammered demand in major Gulf hubs. Regional performance shows steep Middle East declines offset by Africa-Asia trade route gains.
Artefact Named Google Cloud Artificial Intelligence Partner of the Year 2026 for EMEA
Artefact Google Cloud AI Partner wins award for EMEA, recognizing its work deploying production-grade AI solutions across Middle Eastern industries. The company launches a dedicated Gemini Enterprise practice to accelerate agentic AI adoption.
Dubai Sets World Record for Electricity Service Continuity at 49 Seconds Downtime Annually
Dubai’s electricity utility sets a new world record with just 49 seconds of customer downtime annually, far surpassing global peers. The achievement leverages advanced Smart Grid technology and automated restoration systems.