Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
Reflection AI Startup Seeks $25 Billion Valuation in $2.5 Billion Funding Round
Nvidia-backed Reflection AI startup is in talks to raise $2.5 billion at a $25 billion valuation, as it builds open-source AI models to compete with Chinese alternatives.
SpaceX Globalstar Deal Edges Closer to $10 Billion Acquisition, Analyst Says
Satellite analyst Tim Farrar says the SpaceX Globalstar deal is nearing a $10 billion close, with SpaceX likely outbidding Amazon to block a rival’s expansion into direct-to-device connectivity.
Meta and Google Lose Landmark Social Media Addiction Trial, Face $3 Million Damages
A California jury found Meta Platforms and YouTube liable in a landmark social media addiction trial, ordering $3 million in damages for a 20-year-old plaintiff.
CUSP Wealth Hybrid Advisory Model Combines AI and Human Expertise for UAE Investors
CUSP Wealth details its hybrid advisory model combining AI portfolio optimisation with human financial advisors, offering a 0.75% annual fee and a $25 minimum investment in the UAE.
Vertiv Acquires ThermoKey to Expand Heat Rejection Portfolio for AI Data Centers
Vertiv has agreed to acquire Italian heat-exchange specialist ThermoKey S.p.A., with the deal expected to close in Q2 2026 and expand Vertiv’s thermal management portfolio for AI data centers.
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Trip.com Partners with Checkout.com to Streamline Global Travel Payments
Trip.com and Checkout.com have formed a strategic partnership to improve digital payment performance across Saudi Arabia, Japan, the UK, and North America. The deal targets faster transactions and higher acceptance rates for global travelers.
Edge Riyadh Al Rabie Names Kozhaya Tannous as Cluster General Manager
Edge Riyadh Al Rabie by Rotana has appointed Kozhaya Tannous as Cluster General Manager, bringing over 20 years of regional hospitality experience to the role as the brand expands across Saudi Arabia.
Vantage Her Vision Series Highlights Women Leaders in CFD Trading
Vantage Markets launches the Her Vision interview series to highlight women professionals in CFD trading and financial services, featuring IB partners Minh Anh and Cao Hang.
Denodo Joins Open Semantic Interchange to Standardize Data and AI Interoperability
Denodo has joined the Open Semantic Interchange, an open source initiative led by Snowflake to standardize semantic data definitions across AI and analytics platforms.
MovitOn Pre-Sale Raises $2M to Build Web3 Logistics Platform
MovitOn closed a $2 million community pre-sale in February 2026 to fund its Web3 peer-to-peer logistics platform. The Dubai-based company targets a TESTNET launch in April 2026 and claims up to 75% cost savings over traditional couriers.
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
Mobile Money Transactions Surpass $2 Trillion in 2025, GSMA Report Finds
Mobile money transactions surpassed $2 trillion in 2025, with active accounts growing 15% year-on-year to 593 million, according to the GSMA’s latest annual report.
DP World Jeddah Adds Three Quay Cranes to Boost Red Sea Trade Capacity
DP World Jeddah has added three semi-automated quay cranes at Jeddah Islamic Port, part of an $800 million modernisation programme targeting 5 million TEUs in future capacity.
Cisco’s Espen Løberg to Deliver InfoComm 2026 Keynote on Connected Workplace Intelligence
Cisco’s Espen Løberg will deliver the InfoComm 2026 keynote at the Las Vegas Convention Center, focusing on Connected Intelligence for modern workplaces. The event runs June 13–19, 2026.
Gensler AI Workplace Research: Saudi Employees Spend 52% of Work Week in Office
Gensler’s Global Workplace Survey 2026 finds Saudi employees spend 52% of their work week in the office, while AI users dedicate more time to collaboration and learning than their peers.
AWS Bahrain Region Disrupted Again by Drone Activity Amid Middle East Conflict
Amazon confirmed its AWS Bahrain region was disrupted by drone activity on March 23, 2026, the second such incident this month amid the Middle East conflict.
io.net Launches Agent Compute, Letting AI Agents Provision Their Own GPU Resources
io.net launched Agent Compute on March 25, 2026, enabling AI agents to provision GPU resources independently. The platform offers compute at up to 70% lower cost than traditional cloud providers.
Apple Launches Apple Business Platform on April 14 with Device Management, Email, and Maps Ads
Apple will launch Apple Business on April 14 in 200+ countries, consolidating device management, business email, and Maps advertising into one free platform. The service replaces Apple Business Connect, Essentials, and Manager.
PangaeaX Launches Tech Talent Initiative to Strengthen UAE Digital Workforce
PangaeaX has launched a tech talent initiative using challenge-based performance assessment to help UAE organizations identify and verify skilled data professionals.
European Quantum Funding Gap: Investor Warns Europe Risks Repeating AI Mistakes
Europe attracts only 5% of global private quantum funding versus 50% in the US, as Brussels prepares a Quantum Act. An investor warns the bloc must act now to avoid repeating its AI mistakes.
Sungrow Hydrogen Ships Green Hydrogen Systems to Oman, Italy, and Brazil
Sungrow Hydrogen has shipped green hydrogen systems to Oman, Italy, and Brazil, covering three continents with projects ranging from 3 MW to 160 MW in capacity.
Elon Musk Announces Terafab Project: A $20 Billion Chip Manufacturing Facility in Austin
Elon Musk announced the Terafab project, a $20 billion joint venture between Tesla, SpaceX, and xAI to build a chip manufacturing facility in Austin, Texas.
Tencent ClawBot Connects WeChat With OpenClaw AI Agent
Tencent has launched ClawBot, integrating WeChat with the OpenClaw AI agent. The move comes as the company reported CNY 751.8 billion in full-year 2025 revenue.