Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
Aramco Digital Partners with Cumulocity to Deploy Industrial AIoT Solutions Across GCC
Aramco Digital and Cumulocity have formed a strategic partnership to deploy industrial AIoT solutions across the GCC, combining global platform technology with regional execution expertise.
HONOR Signs Strategic Partnership with Motorcycle Racing Team ZXMOTO
HONOR will sponsor ZXMOTO’s 2026 FIM Superbike World Championship campaign as Official Strategic Partner. The deal follows ZXMOTO’s historic double win at the Portuguese WSBK round.
OpenAI Touts Amazon Partnership in Internal Memo, Says Microsoft Has Limited Its Enterprise Reach
OpenAI’s chief revenue officer sent an internal memo touting the company’s Amazon alliance as a key enterprise growth driver, while saying Microsoft has limited its ability to reach clients.
Mohamed Yousuf Naghi Motors Launches Hyundai Exclusive Offers for April and May 2026
Mohamed Yousuf Naghi Motors is offering zero down payment, a 5-year warranty, and a 50/50 financing plan on select 2026 Hyundai models through May 30, 2026.
Renaissance Services Completes Acquisition of Socat LLC, Sodexo’s Omani Arm
Renaissance Services has completed its acquisition of Socat LLC, Sodexo’s Omani subsidiary, marking the first deal under its inorganic growth strategy. The move expands the company’s facilities management reach across more than 100 sites in Oman.
- Ad
Kodamai Launches Mathematically Verified AI Agent Platform, Signs First Mills as First Customer
Kodamai has launched a mathematically verified AI agent platform and signed First Mills as its first enterprise customer in Saudi Arabia, deploying across four production facilities.
Middle East Gaming Market Hits $2.52 Billion as Video Games Outpace Streaming and Music
Video games spending across Saudi Arabia, the UAE, and Egypt reached USD 2.52 billion in 2024, outpacing streaming and music combined. Egypt leads by volume while Saudi Arabia records the region’s highest average revenue per user.
Careem Pay Expands International Transfers to Turkey and Saudi Arabia
Careem Pay has added Turkey and Saudi Arabia to its international transfer network, letting UAE residents send money to bank accounts in both countries within 10 minutes.
ZTE and CIMB Sign MoU to Advance 5G and Digital Infrastructure Across ASEAN
ZTE Corporation and CIMB Bank Berhad signed an MoU on April 14, 2026, to support 5G deployment and digital infrastructure across ASEAN. The agreement covers Malaysia, Indonesia, Singapore, Thailand, and Cambodia.
Saudi Ministry of Finance Activates Financial Control Law and Releases Implementing Regulations
Saudi Arabia’s Financial Control Law entered into force on December 1, 2025, replacing the Financial Representatives Law. The Ministry of Finance has also issued implementing regulations covering four oversight approaches for government entities.
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
Saudi Women Empowerment Reaches New Milestones in 2025, Observatory Director Says
Saudi women’s labor force participation reached 34.2% in 2025, with women-owned enterprises numbering 774,123 and representing 43.8% of all registered businesses in the Kingdom.
Q1 Smartphone Shipments Fall 6% as Memory Crunch and Middle East Tensions Weigh on Market
Global smartphone shipments fell 6% in Q1 2026, driven by a memory component shortage and weak consumer confidence. Apple was the only top-five vendor to grow its market share.
SuperPark Opens Second Riyadh Location at Abyat Plaza with 35+ Activities
SuperPark is opening its second Riyadh park at Abyat Plaza on Al Khurais Road, offering 35+ activities for all ages with a public soft launch starting April 24, 2026.
Saudi Arabia Runs Hajj Transport Simulation with 3,000 Buses and 1.2 Million Virtual Pilgrims
The General Transport Center ran a virtual Hajj transport simulation with 3,000 buses and 1.2 million virtual pilgrims, testing readiness for the 1447 AH season.
Neo Space Group and Saudia Airlines Launch Free High-Speed In-Flight Internet Across the Fleet
Neo Space Group and Saudia Airlines have launched free high-speed in-flight internet across Saudia’s fleet, using the NSG Skywaves® system powered by SES Open Orbits™ multi-orbit satellite technology.
Philips Appoints Marc Zora as CEO for Middle East, Türkiye and Africa Region
Royal Philips has appointed Marc Zora as CEO for its Middle East, Türkiye and Africa region, effective April 1, 2026. The 15-year Philips veteran previously led Image Guided Therapy across the META region.
e& Money Launches Gold Buying and Selling Service in the UAE via SafeGold Partnership
e& Money has launched a digital gold investment service in the UAE with partner SafeGold, letting customers buy 24-karat gold from just 10 dirhams via the app.
OECD Survey: AI Adoption in SMEs Is Widespread but Security Gaps and Skills Shortages Persist
A 2026 OECD survey finds 61% of SMEs use AI tools, but 76% remain novice users while nearly half lack basic digital security measures.
Meta Launches Muse Spark AI, First Model From Its New Superintelligence Lab
Meta has released Muse Spark AI, the first model from its new superintelligence lab led by 29-year-old chief AI officer Alexandr Wang. The closed model outperforms Meta’s previous AI releases in writing and reasoning, though it still trails rivals in coding.
Infobip Turns 20 and Launches AgentOS as Agentic AI Moves Into Production
Infobip marks its 20th anniversary with the live launch of AgentOS, a platform designed to deploy agentic AI across enterprise customer communications at scale.
Arm AGI CPU: Arm Enters Data Center Silicon Market With First-Ever CPU for Agentic AI
Arm Holdings has launched the Arm AGI CPU, its first-ever self-designed data center chip, targeting agentic AI infrastructure with more than 2x performance per rack versus x86 platforms.
Freedom International Group Launches FIRSTLINE in Dubai with AED 10M Backing
FIRSTLINE, a performance-based loyalty platform for premium restaurants, launched in Dubai in April 2026 with AED 10 million in backing from Freedom International Group. The platform connects guest spending and social referrals to measurable revenue for venue operators.