Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
Saudi Non-Oil Economy Enters Export-Driven Growth Phase, PwC Report States
PwC Middle East report states Saudi Arabia’s non-oil economy, now 56% of GDP, is entering an export-driven growth phase focused on competitiveness and productivity.
Moody’s Establishes Regional Headquarters in Riyadh
Moody’s Corporation establishes regional headquarters in Riyadh, expanding its presence in Saudi Arabia to support capital market development and Vision 2030 initiatives.
AliExpress Ramadan Sale Launches in Saudi Arabia with Founding Day Tribute
AliExpress launches its annual Ramadan sale in Saudi Arabia, timed with Founding Day celebrations and featuring Saudi footballer Feras Al Brikan alongside heritage items and fast delivery options.
Rabigh 1 Expansion Power Plant Reaches Major Milestone with SAR 5.33 Billion Energy Agreement
ELSEWEDY ELECTRIC PSP and Siemens Energy reach major milestone for Rabigh 1 Expansion Power Plant with SAR 5.33 billion Energy Conversion Agreement. The 1,200 MW facility will serve 500,000 residential units annually.
METCO Saudi Arabia Signs Strategic Defense Localization Agreements at World Defence Show
METCO Saudi Arabia signed strategic defense localization agreements at World Defence Show with Smiths Detection, Teledyne FLIR, and Destinus to support Saudi Vision 2030 industrial goals.
EY KSA and Microsoft Collaborate on Consulting Services Through EY Studio+
EY KSA and Microsoft announced a collaboration to deliver consulting services through EY Studio+ in Saudi Arabia, combining industry expertise with AI and cloud technologies.
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sarcc Signs Agreement with MAWREF for 12,000-Bed Worker Accommodation in Riyadh
sarcc and MAWREF signed an agreement to develop a 12,000-bed worker accommodation project in North Riyadh with operations starting in Q1 2029.
iHerb Opens Riyadh Fulfillment Center to Accelerate E-Commerce Delivery in Saudi Arabia
iHerb opened a 40,000-square-meter fulfillment center in Riyadh on February 16, 2026, operated by CJ Logistics to reduce delivery times across Saudi Arabia and MENA.
Middle East M&A Activity Surges 33% in 2025 with 635 Completed Deals
Middle East M&A activity surged 33% in 2025 to 635 completed deals, driven by intra-regional transactions and renewed foreign investment confidence.
WAM Saudi 2026 Convenes Global Leaders in Riyadh for Advanced Manufacturing Summit
WAM Saudi 2026 commenced in Riyadh, bringing together global leaders for a three-day summit on advanced manufacturing and logistics under ministerial patronage.
talabat Reports Q4 2025 Results with 21% GMV Growth and $421 Million Dividend
talabat reported Q4 2025 GMV growth of 21% to $2.5 billion with adjusted EBITDA of $156 million. The company announced $421 million in total dividends for 2025.
MBRF Sponsors Makkah Halal Forum as Diamond Partner Supporting Saudi Food Security
MBRF joins Makkah Halal Forum 2026 as Diamond Sponsor, reinforcing 50-year commitment to Saudi food security through expanded HPDC partnership and local production capabilities.
NTT DATA Acquires Zero&One to Expand Cloud Services in Middle East
NTT DATA acquires AWS Premier Tier Services Partner Zero&One to strengthen cloud capabilities in the Middle East. The deal positions the company to tap into Saudi Arabia’s rapidly growing cloud services market.
Mashreq Becomes First UAE Bank to Offer Digital Cross-Border Accounts for Non-Resident Pakistanis
Mashreq launches groundbreaking digital cross-border banking service, enabling UAE-based Pakistanis to open accounts remotely with fee-free instant transfers through Quick Remit.
HKEX Appoints New Chief Regional Representative for Middle East
HKEX appoints Jalal Almarhoon as Managing Director and Chief Regional Representative for Middle East, operating from new Riyadh office to strengthen regional capital market connectivity.
Saudi Consumer Spending Outlook for 2026 Remains Among Strongest Globally, AlixPartners Study Reveals
Saudi consumers plan to increase spending in 2026 with a +4% net rise in intentions, contrasting sharply with global decline, according to AlixPartners study.
Gulf Business Machines Strengthens Leadership Team With Two Senior Appointments
Gulf Business Machines announces two senior leadership appointments with Dr. Feras Al Jabi as General Manager of Technology and Bassam Rached as General Manager of GBM Abu Dhabi.
ACCIONA Ranks Among World’s 100 Most Sustainable Companies in 2026 Global List
ACCIONA and subsidiary Nordex secure positions in 2026 Global 100 Most Sustainable Corporations list by Corporate Knights, announced at Davos World Economic Forum.
World Defense Show 2026 Highlights Saudi Capabilities and National Talent Development
World Defense Show 2026 enters its fourth day in Riyadh, spotlighting national talent development and defense capabilities with 1,468 exhibitors from 89 countries.
HyperPay Achieves SAMA National Payment Gateway Certification in Saudi Arabia
HyperPay obtains National Payment Gateway certification from SAMA, strengthening its position as a trusted payment infrastructure partner in Saudi Arabia’s digital economy.
Saudi Real Estate Refinance Company Signs Deal with Saudi Awwal Bank to Boost Housing Market
Saudi Real Estate Refinance Company signs portfolio purchase agreement with Saudi Awwal Bank to enhance housing market liquidity and support Vision 2030 homeownership goals.
stc group Showcases Localization Leadership at PIF Private Sector Forum 2026
stc group signed five strategic agreements at PIF Private Sector Forum 2026 to enhance Saudi capabilities across digital infrastructure, telecom manufacturing, and sustainability while celebrating Partner Development Program graduates.