Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
IATA Safety Report 2025: Aviation Fatalities Rise to 394 as Sector Maintains Strong Overall Record
IATA’s 2025 safety report recorded 394 onboard fatalities and 51 total accidents across 38.7 million flights, with GPS spoofing incidents surging 193% year-on-year.
Samsung Seeks AI Partnerships to Close Gap with Apple in Smartphone Market
Samsung Electronics is seeking new AI developer partnerships to strengthen its Galaxy lineup against Apple, as global smartphone shipments face a forecast 12 percent decline in 2026.
ScreenCheck and ICT Sign Strategic Partnership to Strengthen Enterprise Security Across the GCC
ScreenCheck and Integrated Control Technology (ICT) signed a strategic partnership on March 10, 2026, to expand access control and unified security management solutions across the GCC.
Vertiv PowerUPS 6000 Industrial UPS Targets Manufacturing, Oil and Gas, and Other Demanding Sectors
Vertiv launched the PowerUPS 6000 Industrial UPS on March 10, 2026, targeting oil and gas, manufacturing, and other sectors requiring power protection in environments reaching 50 °C.
Fortinet Report: AI-Driven Cyber Fraud Surges 1,300% as Saudi Arabia Tops MEA Cybersecurity Rankings
Fortinet’s 2026 report documents a 1,300% global rise in AI-driven cyber fraud and places Saudi Arabia among the top cybersecurity performers in the Middle East and Africa.
- Ad
Motion Motors Launches SOUEAST S08 DM in Jeddah and Signs Dealer Agreements Across Western Saudi Arabia
Motion Motors officially launched the SOUEAST S08 DM in Jeddah in March 2026, signing dealer agreements to expand the Chinese brand’s presence across Western Saudi Arabia.
Motion Motors Opens First SOUEAST Showroom in Jeddah on King Abdulaziz Road
Motion Motors opened the first SOUEAST showroom in Jeddah on March 5, 2026, on King Abdulaziz Road. The 1,185-square-meter facility is among the largest SOUEAST showrooms in the region.
Yalla Group Revenues Hit Record AED 1.256 Billion in 2025 as Users Reach 44.8 Million
Yalla Group revenues hit a record AED 1.256 billion in 2025, with net income rising 10.4% and monthly active users reaching 44.8 million in Q4.
KFSH Genomic Medicine Center Joins Global Alliance for Genomics and Health
King Faisal Specialist Hospital’s Genomic Medicine Center of Excellence has joined GA4GH, a 500-member global consortium setting standards for genomic data sharing. The move expands KFSH’s research capabilities and reinforces Saudi Arabia’s position in precision medicine.
Meta and AMD Strike $100 Billion GPU Deal to Challenge Nvidia’s Dominance
Meta Platforms and AMD have agreed to a GPU deployment deal worth more than $100 billion over five years, with Meta potentially receiving a 10 percent stake in the chipmaker.
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
India Earmarks $360 Million in Subsidies for Chip Assembly Venture with Mitsui and Aoi Electronics
India approved $360 million in subsidies for Mitsui & Co and Aoi Electronics to build a chip assembly facility with Kaynes Semicon in Gujarat, targeting operations by late 2026.
Japan Sets $252.4 Billion Chip Sales Target by 2040 in Push for AI Dominance
Japan has set a JPY40 trillion ($252.4 billion) chip sales target by 2040, eight times higher than 2020 levels, as part of a government strategy to lead in AI-driven semiconductor production.
US Drafts New AI Rules After Pentagon Cancels $200M Anthropic Contract
The US General Services Administration drafted new guidelines requiring AI suppliers to grant the government an irreversible licence for all lawful uses, following the Pentagon’s cancellation of a $200 million Anthropic contract.
AI Trust Insurers Must Build Before Realizing Full Potential, SAS-IDC Report Finds
A new IDC report commissioned by SAS finds that only 7% of insurers consider themselves transformative in AI, with governance gaps and data immaturity slowing sector-wide adoption.
LG Electronics Presents New Compressor and Motor Technologies at AHR Expo 2026
LG Electronics presented two new component technologies at AHR Expo 2026 in Las Vegas. The BHA Series – DualJet™ and CurvedSpoke™ target efficiency and size reduction in refrigeration and HVAC applications.
ELSEWEDY ELECTRIC Completes EL SAAD Solar Plant in Riyadh with 348.6 MW Capacity
ELSEWEDY ELECTRIC has completed the EL SAAD Solar Plant near Riyadh, delivering 348.6 MW of photovoltaic capacity in just 16.5 months — well ahead of the original 24-month schedule.
Viettel Solutions and Aduna Global Sign Network API Partnership at MWC 2026
Viettel Solutions and Aduna Global signed a network API framework agreement at MWC 2026 in Barcelona, targeting transaction security, fraud detection, and digital identity use cases.
Huawei Public Services Solution and AI-Powered Demonstration Site Launched at MWC Barcelona 2026
Huawei launched its Global Public Services Solution and an AI-powered demonstration site in Shenzhen’s Longgang district at MWC Barcelona 2026, alongside a new Global Public Service Ecosystem Alliance.
OpenAI Chair Bret Taylor Says AI Enterprise Deployment Is Still in Early Stages Despite Trillion-Dollar Potential
OpenAI chair Bret Taylor and Singtel Singapore CEO Ng Tian Chong discussed the early state of AI enterprise deployment at MWC26 Barcelona, citing trillions in untapped economic value.
Huawei Hosts Fourth Digital Economy Development Forum at MWC Barcelona 2026
Huawei hosted the fourth Digital Economy Development Forum at MWC Barcelona 2026, gathering nearly 100 experts to discuss AI’s role in reshaping the global digital economy.
Infobip Opens New Data Center in Saudi Arabia to Support AI and Digital Sovereignty
Infobip launched a new data center in Saudi Arabia on March 6, 2026, enabling local AI application deployment and supporting national data sovereignty requirements.
Resident Evil Requiem Sells 5 Million Units in One Week After Launch
Capcom said Resident Evil Requiem surpassed 5 million units sold worldwide within days of its February 27, 2026 launch. The title also won four awards at Gamescom 2025 ahead of release.