Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
Abu Dhabi-Based NIP Group Expands Global Bitcoin Mining Capacity, Becoming Largest in MENA
Abu Dhabi, United Arab Emirates – November 3, 2025 – 16:30 UAE time: Abu Dhabi-based NIP Group Inc. (“NIPG”) (NASDAQ: NIPG), a leading global digital entertainment company, today announced a major expansion of its Bitcoin mining and high-performance computing operations, increasing its total capacity to approximately 11.3 EH/s. This milestone strengthens NIP Group’s position among […]
GE Vernova announces start of operations at Jafurah Cogeneration ISPP in Saudi Arabia
Riyadh, Saudi Arabia (November 3, 2025): GE Vernova Inc. (NYSE: GEV) announced that Jafurah Cogeneration Independent Steam and Power Plant (ISPP) achieved the start of commercial operations. The plant is located approximately 125 kilometers southeast of Dammam, Saudi Arabia. GE Vernova provided a holistic solution including the core power plant equipment, its 7HA.01 gas turbine, […]
stc Group Reports Record Revenues of SAR 58 Billion
Riyadh, Kingdom of Saudi Arabia, 03 November 2025 – stc today announced the company’s preliminary financial results for the period ending at 30 September 2025: Commenting on the financial results for the nine months period of 2025, Eng. Olayan Alwetaid, CEO of stc Group, noted that the Group continues to maximize its revenues from various […]
PIF-Backed Diriyah Company Awards Parsons SAR 210 million Contract for Design and Construction Supervision in Saudi Arabia
Riyadh, Saudi Arabia, 30 October 2025– Parsons Corporation (NYSE: PSN) announced today that the company was awarded a contract for Phase 2 of the Diriyah project by Diriyah Company, a Public Investment Fund (PIF)-owned company in the first half of 2025. This SAR 210 million (USD 56 million); 5-year contract represents new work for Parsons […]
Al-Futtaim Commits SAR 10 Billion to Saudi Arabia, Reinforcing Strategic Partnership with Vision 2030 at FII
The multi-billion SAR strategic investment positions Al Futtaim as a key driver of localisation, talent development, and diversified growth in Saudi Arabia Riyadh, Saudi Arabia; 29 October 2025: Al-Futtaim, one of the region’s most diversified conglomerates, today announced a strategic commitment of SAR 10 billion (approximately USD 2.72 billion) in investments over the next three years in Saudi […]
Supply Chain Challenges Impact 32% of Middle Eastern Executives
Riyadh, 29 October 2025 – Global Supply resilience has made its way back to CEO and Boardroom agendas, with 32% of executives citing they have encountered supply chain challenges. Lack of internal expertise in capital expenditure (CAPEX) procurement and ESG considerations, coupled with product shortages and supplier appetite are key risk factors for energy CAPEX […]
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Chair of the Board and Chief Executive Officer of Citi Jane Fraser Inaugurates Regional Headquarters Office in Saudi Arabia
Launches Future-Ready Youth Employment and Skills Program in the Middle East and North Africa RIYADH, Saudi Arabia – October 27, 2025 – Citi announced the official opening of its new Regional Headquarters in Riyadh, Saudi Arabia, located at Kingdom Tower. Citi formally received its license for the Regional Headquarters from the Ministry of Investment and the […]
Banke Expands into South Africa, Solidifying Its Broader International Growth Strategy
Dubai, UAE – 28th October 2025 – Banke International Properties today announced the opening of its first branch in Johannesburg, The new Hyde Park Lane office brings Banke’s international expertise closer to South African clients, offering access to real estate opportunities across the UAE and other global markets. The move comes at a time when […]
Deloitte Middle East secures UAE Ministry of Finance pre-approval for InTax ahead of e-invoicing rollout
Dubai, UAE, October 27th 2025: Deloitte Middle East announced that it has received pre-approval from the UAE Ministry of Finance for its proprietary tax technology solution, InTax, as an Accredited Service Provider for the upcoming UAE e-invoicing mandate. This marks a significant milestone as the UAE prepares for the phased introduction of mandatory e-invoicing. From […]
4th Digital Transformation Kuwait Conference to Advance Vision 2035 Through Innovation and Collaboration
Event held in collaboration with the Central Agency for Information Technology (CAIT) Kuwait City, Kuwait: The 4th edition of the Digital Transformation Kuwait Conference is set to take place on 17–18 November 2025 at the Jumeirah Messilah Beach Hotel, in collaboration with the Central Agency for Information Technology (CAIT). The event will bring together leaders […]
EEIC and Emerald Ecotechnologies Demonstrate 90% Cost Savings in Water Disinfection at WETEX 2025
October 19, Dubai, UAE – Emerald Ecotechnologies, LLC, together with its Authorized Partner in the UAE, Emirates Electrical & Instrumentation Company (EEIC) – a Ghobash Group Enterprise – concludes a successful showcase of their flagship Aquachlor® Mixed Oxidant Generators at WETEX 2025, held at the Dubai World Trade Centre from 30 September to 2 October. […]
Huawei and Partners Launch Industry Ecosystem Integration Solution Partnership Program
— Aligning Strengths for an Intelligent Future [Dubai, UAE, October 15, 2025] During GITEX GLOBAL 2025, Huawei, in collaboration with Shandong Bittel Intelligent Technology Co., Ltd (Bittel) and South Korea’s Solum, officially unveiled the “Industry Ecosystem Integration Solution Partnership Program”. This initiative aims to empower global enterprises with innovative services and accelerate business growth. In […]
Huawei Showcases Partner Park at GITEX Global 2025:
Driving Digital Transformation Across Oil & Gas, Education, Finance, and Transportation [Dubai, UAE, October 16, 2025] — Huawei Technologies unveiled the Huawei Partner Park at GITEX Global 2025, a dedicated area within Huawei booth where six sponsoring partners showcased their joint solutions developed with Huawei. This initiative underscores the pivotal of ecosystem collaboration in accelerating […]
Hydrogen Arabia Launches in Riyadh to Boost Hydrogen Economy
Riyadh, Saudi Arabia: 15 October 2025: Saudi Arabia will host the inaugural Hydrogen Arabia Summit & Exhibition on 8–9 December 2025 at the Crowne Plaza Riyadh RDC, positioning the Kingdom as a hub for hydrogen and clean energy collaboration. Brought to the region by RX, a global leader in events and exhibitions, and organisers of […]
Huawei Launches GovTech 1.0 to Accelerate Digital Government
[Dubai, UAE, October 14, 2025] During GITEX GLOBAL 2025, Allen Tang, President of Huawei’s Middle East & Central Asia ICT Marketing & Solution Sales Department, launched the GovTech1.0 Framework, a strategic blueprint for governments’ digital and intelligent transformation. In his keynote speech, Tang shared Huawei’s latest insights and practices for helping governments go digital and […]
Global Experts Identify Future Trends at Moscow Startup Summit
Moscow, Russia, 14 October 2025: Leading global thinkers including a Nobel laureate and an Academy Award winner spoke at the international Moscow Startup Summit, held on October 1–2 in Moscow. The summit on technological entrepreneurship brought together over 150 Russian and international experts, around 100 startups, and more than 5,000 participants from 40 countries. Over […]
Huawei’s Dr. Mohamed Madkour: Saudi Arabia Is Building an AI-Driven, Sustainable Digital Economy
At GITEX Global 2025, Huawei’s Dr. Mohamed Madkour highlighted Saudi Arabia’s leadership in AI-driven digital transformation under Vision 2030, emphasizing talent development, sustainability, and open innovation.
PayTabs Egypt and Valu Launch Merchant App to Elevate In-Store Payments Across Egypt
[Cairo, 12 October 2025] In a strategic collaboration aimed at accelerating Egypt’s digital payment transformation, PayTabs Egypt, an award-winning provider of payment orchestration infrastructure and digital payment solutions, has partnered with Valu, MENA’s leading universal financial technology powerhouse, to introduce the Valu merchant app. The app is a smart, contactless payment solution, thoughtfully designed and […]
Expand North Star 2025 Opens, Marking 10 Years of Innovation
Dubai, UAE – 12 October 2025: Expand North Star by GITEX GLOBAL is officially underway in the UAE as the world’s largest startup and investor connector event launched its landmark 10th anniversary in thrilling fashion on Sunday alongside thousands of local and international visitors. Organised by Dubai World Trade Centre (DWTC), and hosted by the […]
Expand North Star by GITEX GLOBAL helps to scale startups from 180 countries
Dubai, UAE – 12 October 2025: Reflecting Expand North Star’s international significance as the world’s largest startup and investor event, part of GITEX GLOBAL, the show’s 10th anniversary edition has attracted over 2,000 startups and 1,200 investors from more than 100 countries, including Brazil as a Country Partner, and all-new participation from Ecuador and Chile. With global venture […]
Esterad Investment CompanyLaunches Esterad Capital Limited,
a New Asset Management Firm in DIFC to Expand its Regional Footprint Esterad Investment Company (“Esterad”) today announced the official launch of Esterad Capital Limited (“Esterad Capital”), a newly established Category 3A asset management firm licensed by the Dubai Financial Services Authority (DFSA) and headquartered in the Dubai International Financial Centre (DIFC). The launch marks […]
Saudi Fund for Development Commits USD 50 Million to Build New Schools, Expanding Education Access for Kyrgyz Students
Kyrgyz Republic, October 09, 2025 – The Saudi Fund for Development (SFD) has signed a USD 50 million agreement with the Kyrgyz Republic to launch Phase II of the Construction of Public Schools Project. The signing ceremony brought together senior officials, including HE Baketaev Alma Kushbekovich, Minister of Finance of Kyrgyzstan, and HE Sultan Abdulrahman […]