Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
IATA Outlines Three Air Cargo Priorities at World Cargo Symposium 2026
IATA outlined three air cargo priorities at the World Cargo Symposium 2026 in Lima: digital transformation, global standards, and safety. Airlines representing over 70% of airway bill volume are implementing the One Record data standard.
Air Cargo Trade Supported $157 Billion in US Pre-Loading and Carried Over Two-Thirds of AI Goods in 2025
IATA’s March 2026 report shows air cargo enabled $157 billion in pre-tariff US imports in Q1 2025 and transported over two-thirds of global AI-related goods during the year.
Microsoft Copilot Agents Drive Workplace Transformation Across Enterprises
Microsoft detailed the expansion of Copilot agents within Microsoft 365 on March 9, 2026, outlining how enterprises are deploying AI agents to automate complex workflows and drive operational transformation.
US Banking Charters: Why Fintechs and Crypto Firms Are Racing to Become Banks in 2026
Neobanks and crypto firms including Revolut, Nubank, Circle, and Ripple are pursuing US banking charters in 2026, seeking to reduce reliance on intermediary banks and gain direct market access.
X Money Early Public Access Set to Launch Next Month, Musk Says
X Money is set to enter early public access next month, according to Elon Musk. The feature is part of X Corp.’s push to add payments to its social platform.
- Ad
Google Acquires Wiz: Cloud Security Platform Joins Google Cloud as AI Threats Accelerate
Google has officially closed its acquisition of Wiz, the cloud security company. Wiz will continue operating as a multi-cloud platform while integrating with Google Cloud and Gemini AI.
Anthropic Launches the Anthropic Institute to Study AI’s Societal and Economic Impacts
Anthropic launched the Anthropic Institute on March 11, 2026, to research AI’s societal, economic, and governance challenges. Co-founder Jack Clark leads the body in a new role as Head of Public Benefit.
Cursor AI Startup in Talks for $50 Billion Valuation, Nearly Double Its Previous Worth
Cursor, the AI-powered coding tool, is in preliminary talks for a funding round at a $50 billion valuation — nearly double its November 2025 figure of $29.3 billion.
Ant International Positions FinAI as Backbone for Agentic Commerce Growth
Ant International positions FinAI as essential infrastructure for secure agentic commerce, with AI-facilitated spending forecast to reach $8 trillion by 2030.
Hikvision ESG Award: Company Wins DMCC Global Enterprise ESG Leader Recognition
Hikvision received the inaugural DMCC Global Enterprise ESG Leader Award on March 12, 2026, recognizing its environmental, social, and governance performance across its Middle East operations.
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
Grand Mosque Installs 15 Interactive Signs in Smart Guidance Initiative for Umrah Visitors
The General Authority for the Care of the Affairs of the Grand Mosque has installed 15 interactive signs as part of a smart guidance initiative. The signs use color-coding and QR codes to help Umrah visitors navigate the mosque.
Bel Group and Kiri Distribute 20,000 Meal Kits in Jeddah for Third Consecutive Ramadan
Bel Group and Kiri distributed 20,000 fresh meal kits in Jeddah during Ramadan 2026, marking the third consecutive year of the initiative with the Saudi Food Bank.
Ericsson and Future Technologies Venture Expand Collaboration to Accelerate Private 5G Adoption in North America
Ericsson and Future Technologies Venture have expanded their collaboration to accelerate private 5G adoption across North American manufacturing, logistics, energy, and transport sectors.
HAVELSAN Breaks Ground on 17,000 sq m Flight Simulator Production Center in Ankara
HAVELSAN has broken ground on a 17,000 sq m flight simulator production facility in Ankara, targeting output of more than 30 simulators annually by 2027.
Nvidia Backs Thinking Machines Lab with Investment and 1-Gigawatt Compute Deal
Nvidia and Thinking Machines Lab have struck a multiyear deal to deploy at least 1 gigawatt of Vera Rubin compute power, alongside a direct investment in the Mira Murati-led AI startup.
Pakistan 5G Spectrum Auction Raises $507 Million as Jazz, Ufone and Zong Secure 480MHz
Pakistan’s 5G spectrum auction raised $507 million, with Jazz, Ufone, and Zong securing 480MHz across four frequency bands on March 11, 2026.
China Restricts OpenClaw AI Platform Use Across Government Agencies and State Banks
China has moved to restrict OpenClaw AI platform use across government agencies and state banks, citing data security risks. Tencent and JD.com continue to promote adoption in the private sector.
Open World Names Dr. Salman Al-Khaldi to Lead Saudi Arabia Operations as RWA Tokenization Center Launches
Open World Ltd. has appointed Dr. Salman Al-Khaldi as Regional President to lead the RWA Tokenization Center of Excellence in Saudi Arabia, set to launch in 2026.
Bupa Arabia Reports 41% Female Promotion Rate and 50+ Women in Leadership Roles
Bupa Arabia recorded a 41% female promotion rate — its highest in company history — and placed more than 50 women in leadership roles as part of a structured diversity strategy.
Anthropic Files Lawsuit Against Trump Administration Over National Security Blacklisting
Anthropic filed a lawsuit on March 9, 2026, challenging the Trump administration’s decision to designate the AI company as a national security supply-chain risk. The move follows the cancellation of a $200 million Pentagon contract.
Saudi Arabia AI Sector Reaches $9.1 Billion in Funding as Cabinet Designates 2026 the Year of Artificial Intelligence
Saudi Arabia’s Cabinet designated 2026 as the Year of Artificial Intelligence as the Kingdom ranked 14th globally in the 2025 AI Index and AI companies secured $9.1 billion in funding.
Ambassadori Island Batumi and Arup Unveil Smart City Vision at MIPIM 2026
Ambassadori Island Batumi presented its 84-hectare smart city masterplan at MIPIM 2026 in Cannes, developed in collaboration with engineering firm Arup. The Black Sea project includes a 58-floor residential tower and targets international investors.