Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
Eid Al-Fitr Travel Demand Rises in Saudi Arabia as Jeddah, AlUla, and Abha Lead Domestic Destinations
Booking data shows a notable rise in domestic travel demand across Saudi Arabia for Eid Al-Fitr 2026, with Jeddah, AlUla, and Abha emerging as top destinations. Hotel prices start from SAR 513.75 per night.
Bank Muscat Launches Oman’s First Banking Command Center with Dynatrace, Cuts Incident Detection Time by 80%
Bank Muscat deployed the Dynatrace platform to launch Oman’s first banking Command Center, cutting incident detection time by over 80% and consolidating 20+ monitoring tools into one platform.
BHM Capital Reports 26.65% Revenue Growth and AED 2.01 Billion in Total Assets for 2025
BHM Capital posted AED 205.98 million in total revenue for 2025, a 26.65% year-on-year increase, while total assets crossed AED 2 billion. The firm also captured 40.45% of all new trading accounts opened on the Dubai Financial Market.
OpenAI Plans Desktop Superapp to Merge ChatGPT, Codex, and Atlas Browser
OpenAI plans to merge ChatGPT, Codex, and the Atlas browser into a single desktop superapp, citing fragmentation and competitive pressure from Anthropic.
Study Estimates AdaKami Fintech Lending Platform Contributed Up to $649 Million to Indonesia’s GDP
A University of Indonesia study estimates that AdaKami’s loan disbursements contributed up to $649 million to Indonesia’s GDP in 2024, supporting employment for up to 78,000 people across 17 sectors.
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Netcracker Digital OSS Upgrade Powers BICS Operations Support Modernization
BICS, a Proximus Global subsidiary, will upgrade its Netcracker Digital OSS deployment as part of a strategic modernization program covering all core OSS components. The initiative targets stability, security, and long-term platform support for wholesale and carrier services.
MARSS Signs $190M MoU with Nigerian Ministry of Defence for AI-Powered C4I Programme
MARSS has signed a $190 million MoU with Nigeria’s Ministry of Defence to deliver an AI-powered C4I national defence programme. The deal, signed in London on 19 March 2026, is among the largest defence programmes ever commissioned in Africa.
Xiaomi MiMo-V2-Pro: A 1-Trillion Parameter Model Challenging Western AI Leaders on Cost and Performance
Xiaomi released MiMo-V2-Pro, a 1-trillion parameter AI model, on March 18, 2026, ranking 10th globally on Artificial Analysis’s Intelligence Index at roughly one-seventh the cost of comparable Western models.
World Happiness Day 2026: How Happiness at Work Drives Productivity and Creativity
A University of Oxford study found that happiness at work raises employee productivity by an average of 13%. Saudi Arabia ranked first in the Arab world in the 2021 World Happiness Report, reflecting Vision 2030 priorities.
Microsoft Unifies Consumer and Business Copilot Teams in Major Reorganization
Microsoft is merging its consumer and commercial Copilot teams under a single leadership structure. The move aims to create a unified product experience as the company works to boost adoption against rivals like ChatGPT and Gemini.
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
Mistral Forge Lets Enterprises Train AI Models on Their Own Proprietary Data
Mistral AI has launched Mistral Forge, a system that allows enterprises to train AI models on their own proprietary data, internal codebases, and operational records.
LEAP 2026 Scheduled for August 31 to September 3 at Riyadh Exhibition Centre
LEAP 2026 is confirmed for August 31 to September 3 at the Riyadh Exhibition & Convention Centre. The fifth edition builds on 200,000+ attendees recorded at LEAP 2025.
DXC Technology Consulting Earns Forbes Best Management Consulting Firms Ranking for Fourth Consecutive Year
DXC Technology has appeared on the Forbes 2026 Best Management Consulting Firms list for the fourth consecutive year. The company recently launched AdvisoryX and the Xponential AI framework to help organizations scale responsible AI adoption.
IATA Forecasts Air Travel Demand to More Than Double by 2050
IATA projects global air travel demand to exceed 20.8 trillion RPKs by 2050, more than doubling from 2024 levels under its medium growth scenario.
Milestone Systems Expands Hafnia with Synthetic Data and Training-as-a-Service at NVIDIA GTC
Milestone Systems introduced Hafnia synthetic data tools and a Training-as-a-Service preview at NVIDIA GTC, targeting rare-scenario AI training for smart city applications.
Vertiv Brings Converged Infrastructure to NVIDIA Vera Rubin DSX AI Factories
Vertiv has integrated simulation-ready power and cooling models into the NVIDIA Vera Rubin DSX AI factory reference design. The collaboration aims to reduce deployment risk and accelerate time to operational readiness for large-scale AI infrastructure.
Beltone Secures Initial FRA Approval to Launch Fadda, Egypt’s First Silver Investment Fund
Beltone Asset Management has received initial FRA approval to launch Fadda, Egypt’s first silver investment fund offering daily cumulative returns to individual and institutional investors.
Sama X Launches Starlink Kuwait Services, Offering Satellite Internet Across Land and Sea
Sama X, the tech subsidiary of Al Ghanim Industries, has launched Starlink satellite internet services in Kuwait, offering speeds exceeding 300 Mbps with latency between 20 and 40 milliseconds.
AWS Transform Mainframe Modernization Relies on AI and COBOL Experts, Executive Says
AWS Transform is accelerating mainframe modernization using AI, but VP Asa Kalavade says COBOL experts remain essential for validating translated code and defining transformation scope.
Nvidia Faces Growing Competition as AI Shifts from Training to Inference Computing
Nvidia faces mounting competition as the AI industry shifts from model training to inference computing. The company is pivoting its product strategy while rivals like Cerebras and Groq gain ground.
Alibaba Plans Major Restructuring to Sharpen Focus on AI and Profitability
Alibaba is planning a major restructuring to prioritize artificial intelligence and improve profitability, according to a Bloomberg report from March 16, 2026.
Saudi Photographer Khalid Alsabt Wins Sony World Photography Awards 2026 Landscape Category
Saudi photographer Khalid Alsabt has won the landscape category of the Sony World Photography Awards 2026 Open Competition for his image captured near AlUla. The annual exhibition opens at Somerset House, London, from April 17 to May 4, 2026.