Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
Group-IB Joins MITRE Fight Fraud Framework as Initial Data Contributor
Group-IB has joined the MITRE Fight Fraud Framework as an initial data contributor, bringing adversary-driven fraud intelligence from active investigations and law enforcement partnerships.
OMODA & JAECOO UAE Sales Top 3,000 Units as Brands Near One Million Global Milestone
OMODA & JAECOO UAE operations have crossed 3,000 vehicle sales in their first year, while global monthly sales hit a record 61,254 units in March 2026 with 417 percent year-on-year growth.
Saudi Finance Minister to Chair IMF Committee at 2026 IMF-WBG Spring Meetings in Washington
Saudi Finance Minister Mohammed Aljadaan will head the Kingdom’s delegation to the 2026 IMF-WBG Spring Meetings in Washington, D.C., April 13-18, and will chair the IMF’s key policy committee.
LG Electronics Launches Three New Indoor Units for Air-to-Water Heat Pump Systems
LG Electronics introduced three new indoor units for air-to-water heat pump systems at MCE 2026 in Milan. The Combi, Hydro and Control Units share a 2026 iF Design Award-winning design and target European residential installations.
Lenovo Opens Regional Headquarters for Middle East, Turkey, and Africa in Riyadh
Lenovo officially opened its META regional headquarters in Riyadh on April 12, 2026, attended by Saudi Minister of Investment Fahd Al-Seif and senior officials. The move supports Vision 2030 goals and complements existing manufacturing and R&D investments in the Kingdom.
- Ad
Kanaa E-Commerce Platform Launches in Saudi Arabia with Same-Day Delivery and Extended Warranties
Kanaa, a Saudi-born e-commerce platform, has launched in the Kingdom with same-day delivery, extended warranties, and a mobile-first design targeting reliability-focused shoppers.
ELSEWEDY ELECTRIC Executes Six High-Voltage Substations Across Saudi Arabia
ELSEWEDY ELECTRIC Power Systems Projects is executing six high-voltage substations across Saudi Arabia, working with Saudi Electricity Company, National Grid, Hitachi Energy, and Siemens Energy.
Amazon AI Revenue Tops $15 Billion Annually as AWS Chip Business Doubles
Amazon CEO Andy Jassy disclosed that AI services within AWS now generate over $15 billion annually, with the company committing $200 billion in capital expenditure for 2026.
Apple Leads Global Smartphone Market for First Time in Q1 as Memory Shortage Cuts Shipments 6%
Global smartphone shipments dropped 6% in Q1 2026 as memory shortages and weak consumer demand weighed on the market. Apple led for the first time with 21% share, while Samsung slipped to second.
Saudi Arabia Showcases Digital Transformation and AI Achievements at World Bank Event in Washington
SDAIA and the Digital Government Authority organized the Saudi Day of Digital Transformation and AI at the World Bank headquarters in Washington, presenting the Kingdom’s global rankings and national platform achievements.
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
SDAIA Joins Global Privacy Assembly, Expanding Saudi Arabia’s Role in International Data Protection
Saudi Arabia’s SDAIA has joined the Global Privacy Assembly, gaining a seat at the table in international personal data protection discussions. The move coincides with the Kingdom’s Year of Artificial Intelligence 2026.
LG Electronics Earnings Hit Record Q1 2026 Revenue of KRW 23.73 Trillion
LG Electronics posted record first-quarter 2026 revenue of KRW 23.73 trillion and operating profit of KRW 1.67 trillion, beating market expectations across most business divisions.
AWS S3 Files Is Quietly Changing How AI Agents Work at Scale
AWS S3 Files gives S3 buckets a POSIX filesystem interface, eliminating the need for sandbox VMs to run parallel AI agent swarms. The infrastructure barrier just dropped significantly.
EDECS and MEDLOG Sign Contract for 189,000 sqm Dry Port in Egypt’s 10th of Ramadan City
EDECS and MEDLOG signed a contract on April 8, 2026, to build a 189,000 sqm dry port in Egypt’s 10th of Ramadan City. The EPC project marks MEDLOG’s first dry port development in Egypt.
5G Coverage Is No Longer the Goal: GSMA Intelligence Declares a Capability Era in 2026
GSMA Intelligence’s 5G Connectivity Index benchmarks 46 markets and finds that coverage alone no longer defines 5G leadership. Advanced capabilities, from standalone networks to industrial IoT, now separate the leaders from the rest.
SADAFCO Joins 13th Career Fair at King Abdulaziz University, Highlights Saudi Workforce Growth
SADAFCO participated in the 13th Career Fair at King Abdulaziz University in Jeddah, where the company reported that Saudi nationals now make up more than 33% of its total workforce.
Huawei Techco2.0 Framework Targets Telecom-to-Techco Shift at SAMENA Summit 2026
Huawei unveiled its Techco2.0 framework at the SAMENA Leaders’ Summit 2026 in Dubai, outlining a three-layer AI model to help telecom operators generate new revenue and automate operations.
US DoJ Appeals Court Ruling That Blocked Anthropic’s National Security Designation
The US Department of Justice appealed a court ruling that blocked the Trump administration’s national security designation against AI company Anthropic. The dispute stems from a $200 million contract cancellation over military AI deployment rights.
OpenAI Proposes Public Wealth Fund and Grid Expansion in New AI Policy Plan
OpenAI has released a policy document calling for a public wealth fund, grid expansion, and tax reform to address the societal effects of advanced AI. The company warns that without clear guidelines, AI could displace workers and concentrate wealth.
EIB Lends €30 Million to PLD Space for MIURA 5 Small Satellite Launcher
The European Investment Bank has signed a €30 million venture debt loan with PLD Space to fund the final development of the MIURA 5 small satellite rocket, its first direct investment in small launchers.
Mashreq Becomes First UAE Bank to Offer Cross-Border Digital Accounts for Non-Resident Egyptians
Mashreq has launched cross-border digital accounts for UAE-based Egyptians, allowing instant remote account opening in Egypt via the Mashreq UAE mobile app, with free real-time transfers through Quick Remit.
Havelsan, VN Maritime and Piloda Defence Sign Agreement to Develop Hybrid Surface Vessels for Italian Institutions
Havelsan, VN Maritime Technologies and Piloda Defence have signed a framework agreement to develop hybrid surface vessels for Italian government and security institutions, with the first purchase order targeted for the first half of 2026.