Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
Middle East Energy Boom Defies Global Volatility with 68% Growth Surge, EIC Reveals
Region thrives by investing in both hydrocarbons and clean energy technologies UAE and Saudi Arabia surge ahead in AI, logistics, and digital infrastructure Fragmented localisation rules and freight capacity could strain regional momentum DUBAI – July 2025: The Middle East is powering ahead of global energy markets. According to the Energy Industries Council’s (EIC) latest […]
Airalo Becomes the First eSIM Unicorn With an Investment Round of $220m
Backed by strong global demand, Airalo is scaling its eSIM solutions and infrastructure to power the next generation of travel with borderless mobile access for consumers and businesses alike. LEWES, Del.–(BUSINESS WIRE)– Airalo, the world’s first and largest eSIM provider, today announced a $220m investment led by new investor, CVC. The investment includes new growth capital […]
ELEVATE Expands Worldwide as ICAIRE Aims to Empower 25,000 Women in AI
The International Center for Artificial Intelligence Research and Ethics (ICAIRE), a UNESCO Category II Center based in Riyadh, has officially launched the second phase of its global initiative, ELEVATE, aimed at training 25,000 women worldwide in artificial intelligence and emerging technologies. Developed in collaboration with Microsoft, the initiative provides women across the globe with access […]
US Export Controls on AI Chips Boost Domestic Innovation in China
The discussion around advanced chips for artificial intelligence, driven by billions in investment, dreams of artificial general intelligence, and marred by political concerns over security, has entered a stage of intense competition between nations. NVIDIA achieved revenues of over US$80 billion from data center GPUs alone in 2024; however, with significant stock going to nations […]
TDF Launches 3 Programs to Empower Tourism Entrepreneurs and Startups
Riyadh, Saudi Arabia – July 9, 2025: The Tourism Development Fund (TDF) – the national enabler of Saudi Arabia’s tourism sector- has announced the launch of 3 flagship programs designed to support and empower entrepreneurs and startups. The initiatives – the Grow Tourism Incubator, Tourism Hackathons & Bootcamps, and Grow Tourism Accelerator – are delivered […]
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Amazon Payment Services Partners with Tamara to Offer Seamless Split Payments for Merchants in the UAE and Saudi Arabia
Seamless integration of Tamara will enable businesses in the UAE and KSA to provide flexible payment options, generate broader customer reach, and enhance customer conversion rates Merchants in the Amazon Payment Services network now have even more ways to deliver a simple and flexible payment experience Riyadh, Saudi Arabia, July 9th, 2025 – Amazon Payment […]
NEO SPACE GROUP CELEBRATES FIRST ANNIVERSARY WITH MAJOR MILESTONES, STRATEGIC ACQUISITIONS AND NEW CLIENTS
Saudi Arabia’s leading commercial satellite services company expands capabilities through strategic partnerships, executive appointments, and a rapidly growing client base, driving the Kingdom’s space leadership in line with Vision 2030. Riyadh, Saudi Arabia – July 7, 2025: Neo Space Group (NSG), a PIF company and Saudi Arabia’s leading commercial satellite services provider, celebrates its first-year […]
Vertiv demonstrates mission-critical infrastructure solutions in Saudi Arabia
Riyadh, Saudi Arabia – [July 7, 2025] – Vertiv (NYSE: VRT), a global leader in critical digital infrastructure, organised and presented a high-impact switchgear and busbar training event in Riyadh, Saudi Arabia, in collaboration with local partners Mohammed Mansour Al-Rumaih (MMR KSA), a subsidiary of MDS SI Group, and specialized electrical power distributor SBLT. The event […]
STC Bank Recognized as Best Digital Bank in Saudi Arabia
STC Bank has been awarded the title of the “Best Digital Bank in Saudi Arabia” at the second edition of the Best in Business Awards, organized by Inc. Arabia Magazine in Riyadh. STC Bank started off as a wallet in 2018 and serviced 14 million users before it launched as a full-fledged bank earlier this […]
Aligned with Saudi Vision 2030, “Petromin” and “Foton” Sign a Four-Party MoU To Establish Joint Commercial Vehicle Manufacturing Plant in Saudi Arabia
Riyadh, Saudi Arabia – June 2025 As part of the Kingdom’s Vision 2030 ongoing efforts to strengthen its industrial sector and localize high-value manufacturing, Petromin Corporation, Foton, the Ministry of Investment, and the National Industrial Development Center signed a four-party Memorandum of Understanding to explore the establishment of an integrated commercial vehicle manufacturing plant in […]
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CARMA Launches 5th Edition of Kingdom Reputation Report at High-Profile Event in Riyadh
Riyadh, Saudi Arabia – 3rd July 2025: CARMA, the global leader in media intelligence and research solutions, in partnership with SOCIALEYEZ, the Middle East’s leading team of creative strategists, and Cicero & Bernay, a leading communications consultancy, officially launched the Fifth Edition of the landmark Kingdom Reputation Report during an exclusive event held at Crowne […]
A Legacy of Empowerment and Leadership at PromoVision
Riyadh, Saudi Arabia – July 03, 2025:PromoVision proudly honors the remarkable leadership journey of its CEO, Dr. Bothina Momenah—a visionary who has dedicated over three decades to nurturing talent, fostering growth, and building a legacy of leaders within and beyond the organization. Since the early days of PromoVision, Dr. Bothina has led not only with […]
TASC Slashes Tech Hiring Time in Saudi Arabia with Launch of Tech Vertical AIQU
Riyadh, Saudi Arabia, 3 July 2025: Saudi Arabia’s Vision 2030 is driving a significant surge in demand for technology talent, especially in AI and machine learning. However, many companies face challenges such as lengthy hiring processes, high costs, and limited flexibility, which cause delays that put critical digital projects at risk. Overcoming these obstacles is […]
Johnson Controls Arabia First Saudi Company to Earn All Four ISO Customer Satisfaction Certifications
Jeddah, Saudi Arabia – July 2, 2025 – Johnson Controls Arabia (JCA) has achieved a historic milestone in customer service excellence, becoming the first and only Saudi company to earn all four ISO certifications in customer satisfaction, for the fourth consecutive year. This accomplishment positions JCA as a national and regional leader in building meaningful, […]
UAE Spending Surge Anticipated Heading into Dubai Summer Surprises 2025
Latest data from Checkout.com shows a 44% increase y-o-y in digital spending during last year’s Dubai Summer Surprises, with 62% of UAE consumers planning to increase their online shopping over the next year Dubai, UAE – 2 July 2025 – As the UAE gears up for another season of Dubai Summer Surprises (DSS), new data […]
Whish Visa Card Now Available in Google Wallet in Lebanon
Empowering Whish Android Users to Tap to Pay with Google Pay Saudi Arabia – June 25, 2025: Whish Money SAL, a leading fintech innovator, announced today that Whish Visa cards can now be added to Google Wallet, providing Android users with a fast, secure, and contactless way to pay. Newly launched in Lebanon, this feature […]
Riyad Bank and Mastercard launch a unique program empowering Micro, Small and Medium Enterprises in the Kingdom
Partnership will introduce three credit cards — Mastercard NMOO Executive Credit Card, Mastercard NMOO Business Credit Card, and Mastercard NMOO World Credit Card – to provide SMEs with enhanced access to funding Riyadh, Saudi Arabia, 29 May 2025 – Riyad Bank and Mastercard have collaborated to provide small and medium-sized businesses in Saudi Arabia with […]
TDF Participates as “Strategic Partner” in Aseer Investment Forum
Abha – May 30, 2025: Under the patronage of HRH Prince Turki bin Talal bin Abdulaziz, Governor of the Aseer Region and Chairman of the Aseer Development Authority, the Tourism Development Fund (TDF) -the national enabler of the tourism sector- took part in the 2nd edition of the Aseer Investment Forum. The forum spotlights high-potential […]
Tires Recycled into New Heat-Resistant Roads for Pilgrims
Eco-conscious walkways made from recycled tyres offer cooler, softer routes in Mecca Mecca Saudi local authorities inaugurated an expanded, climate-controlled pedestrian walkway to prepare for the Hajj, which starts Wednesday, June 4th. This initiative aims to improve the comfort and accessibility of millions of pilgrims, including those with disabilities. Additionally, environmentalists commend the project for […]
Johnson Controls Arabia Inaugurates the Kingdom’s Largest YORK Air-Cooled Chiller Production Line
Johnson Controls Arabia, a global leader in Smart Building Controls, and energy efficiency solutions, has inaugurated the first-ever 600-ton air-cooled chiller production line at the YORK Manufacturing Complex in King Abdullah Economic City, Jeddah. This milestone is accompanied by the launch of Saudi Arabia’s first AHRI-certified performance testing lab dedicated for up to 600-ton air-cooled […]
Exclusive Partnership Between dubizzle and Paymob to Enhance User Experience and Advance Digital Payment Services
Cairo – May 28, 2025 dubizzle (formerly OLX), Egypt’s top online classifieds platform in Egypt and the MENA region, has announced a strategic partnership with Paymob, the leading financial services enabler in the MENA. By leveraging Paymob’s advanced infrastructure and secure technology, this exclusive collaboration aims to streamline and empower digital payment capabilities across dubizzle’s […]
In a Warming World, Mecca Cools Down: Saudi Arabia Expands ‘White Road’ Project
As temperatures soar, heat-reflective roads and soft walkways offer critical relief for millions during the Hajj. Overview Eng. Saleh Al-Jasser, Saudi Arabia’s Minister of Transport and Logistics Services and Chairman of the Roads General Authority, has launched a cooled pedestrian walkway project in Mecca that also enhances accessibility for people with disabilities. Cooled Roads Initiative […]