Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
Nova and SIRC Sign MoU to Advance Recycling and Circular Economy Goals in Saudi Arabia
Health Water Bottling Company’s Nova brand and SIRC have signed an MoU to advance recycling, waste reduction, and circular economy goals in Saudi Arabia.
Marc Andreessen Says AI Is an 80-Year Overnight Success, Not Another Hype Cycle
Marc Andreessen joined the Latent Space podcast at a16z’s Sand Hill Road office to argue that AI represents decades of compounding progress, not a repeat hype cycle. He covered agents, open source, chip shortages, and why proving human identity online may soon require biometrics.
Ex-Sandsoft CTO Launches Think AI Startup in Riyadh, Targeting GPU Efficiency and AI Infrastructure Costs
Ahmed AlSharif, former CTO of Sandsoft and veteran of PlayStation, EA, and Meta, has launched Think, a Riyadh-based AI infrastructure startup targeting GPU efficiency and rising hardware costs.
Only 11% of Banks Have Achieved Trustworthy AI, SAS Report Finds
A new SAS and IDC report finds only 11% of banks have achieved trustworthy AI, while nearly half struggle with a “trust dilemma” that limits effective deployment.
Anthropic Signs Multi-Gigawatt TPU Deal with Google and Broadcom as Revenue Tops $30 Billion
Anthropic has signed a multi-gigawatt TPU deal with Google and Broadcom, as the company’s run-rate revenue surpasses $30 billion and enterprise customer numbers double in under two months.
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Arthur D. Little Middle East Promotes Three Consultants to Partner Level
Arthur D. Little Middle East has promoted Maurice Salem, Prithweesh Ghosh, and Yiğit Saf to Partner, strengthening its Dubai-based leadership team across public sector and private equity practices.
Saudi Fund for Development Signs USD 15 Million Loan Agreement with Palau in First Pacific Partnership
The Saudi Fund for Development signed a USD 15 million loan agreement with Palau on April 6, 2026, its first development deal in the Pacific island nation.
SDAIA and World Bank Launch AI Governance Workshop in Washington
SDAIA and the World Bank opened a five-day AI governance workshop in Washington on April 6, bringing together global experts to develop international cooperation frameworks.
KFSH Performs World’s First Single-Port Robotic Living Donor Liver Resection
King Faisal Specialist Hospital has performed the world’s first series of single-port robotic liver resections from living donors, using a single incision of 3.5 cm or less.
Cisco Saudi Arabia Appoints Bader Almadi as Vice President to Lead Strategy and Operations
Cisco has named Bader Almadi as Vice President for Saudi Arabia, tasking him with leading strategy and commercial operations in the Kingdom. Almadi brings over 20 years of technology leadership experience, including senior roles at Google Cloud, Dell Technologies, and Oracle.
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
Why Saudi Consumers Are Reluctant to Buy Electric Vehicles
Saudi consumers are holding back on electric vehicles for reasons that go beyond price. From scarce charging stations to extreme heat and cheap fuel, the barriers are real.
SonicWall Report: Cyber-Attacks Rise in 2026 as SMBs Face Seven Preventable Security Failures
SonicWall’s 2026 Cyber Protect Report finds high and medium severity attacks surged 20.8% to 13.15 billion hits, with SMBs facing ransomware in 88% of breaches.
YORK Cooling Pod Opens at Jeddah Corniche Through June 1
The YORK Cooling Pod opened at Jeddah Corniche on April 2 and runs through June 1, 2026. The interactive installation lets visitors experience YORK cooling technology firsthand.
Saudi Satellite Shams Launches on Artemis II, Making Kingdom First Arab Nation in NASA Moon Mission
Saudi Arabia became the first Arab nation in NASA’s Artemis program after the Saudi satellite Shams launched successfully on April 4, 2026, aboard the Space Launch System as part of the Artemis II lunar mission.
NASMO Olympiad Phase Two Launches with Nearly 20,000 Students Across Saudi Arabia
The NASMO Olympiad second phase launched on April 4, 2026, with 19,489 students from 16 educational regions competing across six scientific disciplines. Mawhiba is organizing the event in partnership with the Ministry of Education.
DeepSeek V4 to Run on Huawei Chips: Can China’s AI Hardware Match Nvidia?
DeepSeek is preparing to launch its V4 model built on Huawei chips, with hundreds of thousands of units already ordered by China’s top tech firms. The move raises a critical question: can Huawei’s AI hardware truly compete with Nvidia at scale?
Anthropic Acquires Coefficient Bio for $400M: Nine People, One Giant Bet on AI Drug Discovery
Anthropic just paid $400 million for Coefficient Bio, a nine-person AI drug discovery startup that was only eight months old. The all-stock deal works out to $44 million per person.
Gradiant Wins Water Contract for UK Hyperscale Data Center in Oxfordshire
Gradiant has been awarded a contract to build a water treatment facility for a hyperscale AI data center in Didcot, Oxfordshire, covering treatment, recycling, and zero liquid discharge.
OpenAI Buys TBPN Podcast: Why Owning the AI Conversation Matters
OpenAI has acquired TBPN, the podcast network where AI industry leaders speak openly. The deal is less about content and more about controlling the narrative around artificial intelligence.
Paparuda Studio Secures Over 4 Million MDL to Build Moldova’s First Globally Targeted Video Game
Paparuda Studio has raised over 4 million MDL to develop Moldova’s first globally targeted video game, with plans to launch within 15 months on PlayStation, Xbox, and Nintendo.
Martin Sion Takes Over as Alstom Chief Executive Officer, Succeeding Henri Poupart-Lafarge
Martin Sion takes over as Alstom’s CEO on April 1, 2026, succeeding Henri Poupart-Lafarge after a decade of leadership that grew revenues from €6 billion to €18.5 billion.
Genetec Urges Middle East Organizations to Integrate Physical Security Into IT Network Strategies
Genetec Inc. called on Middle East governments and enterprises to integrate physical security systems into their IT network strategies as cyber threats grow more sophisticated.