Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
HPE Showcases AI Factory Solutions and Self-Driving Networks at LEAP 2026
HPE will showcase sovereign AI factories, self-driving networks, and Saudi Made initiatives at LEAP 2026 in Riyadh from August 31 to September 3.
Alshaya Group Opens First Chipotle Restaurant in Riyadh
Alshaya Group has opened the first Chipotle restaurant in Saudi Arabia at Sidra in Riyadh, expanding the brand’s GCC presence to 17 locations.
Nissan Formula E Confirms Oliver Rowland and Zane Maloney for Season 13
Nissan Formula E Team confirms Oliver Rowland and Zane Maloney for Season 13 ahead of the GEN4 debut in the ABB FIA Formula E World Championship.
Saudi Ministry of Media to Host Government Press Conference with Communications Minister
The Saudi Ministry of Media hosts a government press conference on August 30, 2026, featuring Communications Minister Abdullah Alswaha to discuss tech updates.
Nvidia Agrees to Acquire Hugging Face for $12.9 Billion
Nvidia agreed to acquire open-source AI platform Hugging Face for $12.9 billion, expanding its position in developer tools and model hosting.
Saudi Industrial Fintech Financing Surges 130% to SR541 Million in H1 2026
Saudi industrial fintech financing climbed 130% to SR541 million in H1 2026 as the number of active digital lenders expanded from three to seven.
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Saudi Arabia Approves $112 Million for Gaming and Esports Development
Saudi Arabia approved $112 million in financing for the gaming sector, supporting 82 entities and 127 games under Vision 2030 diversification goals.
NTT DATA to Present Smart City and Artificial Intelligence Systems at LEAP 2026 in Riyadh
NTT DATA announced its participation in LEAP 2026 in Riyadh, showcasing smart city infrastructure, sovereign AI, and digital transformation systems.
Infobip Launches SIM-Based Number Verification for Telecom Operators
Infobip launched a SIM-based authentication tool to help telecom operators monetize Network APIs while replacing one-time passwords for enterprise security.
CST Publishes Saudi Internet 2025 Report on Digital Public Services
The Saudi Internet 2025 report reveals download statistics for official public applications across the Kingdom, highlighting citizen adoption.
McLaren Reveals McL 6GT Supercar Concept at Monterey Car Week
McLaren Automotive has revealed the McL 6GT concept at Monterey Car Week, featuring a manual transmission and carbon fibre construction ahead of a 2028 production run.
OpenAI Details Jalapeno Chip Performance Benchmarks Against Nvidia Hardware
OpenAI published benchmark data showing its custom Jalapeno chip outperformed Nvidia GB300 hardware in speed and energy efficiency tests across three large language models.
HPE Launches Gen12 Saudi Made Servers Powered by Intel Xeon 6
HPE has launched its Gen12 Saudi Made servers powered by Intel Xeon 6 processors, offering enhanced efficiency and security for regional enterprises.
HONOR Expands Middle East Shipments by 35% in First Half of 2026
HONOR recorded a 35% increase in Middle East shipments in H1 2026, becoming the region’s second-largest smartphone brand amid a 13% market decline.
Hyundai Launches Regional Campaign Focusing on Vehicle Ownership Costs
Hyundai Motor Middle East & Africa has launched a campaign focusing on total ownership expenses, covering maintenance, fuel economy, and resale value.
Bupa Arabia Launches Third Edition of Corporate Padel Tournament in Jeddah
Bupa Arabia launches the third edition of its corporate padel tournament in Jeddah with 32 teams before moving to Khobar and Riyadh.
Jeddah’s South Container Terminal Records Highest Monthly Throughput Since 1999
Jeddah’s South Container Terminal handled 221,200 TEUs in July 2026, marking its highest monthly throughput since DP World began operations in 1999.
Tencent Cloud Partners with TruKKer in Saudi Arabia Ahead of LEAP 2026
TruKKer will migrate its digital freight platform to Tencent Cloud’s Saudi data centers and deploy CodeBuddy AI tools ahead of LEAP 2026.
Google Cloud Launches Gemini Enterprise for Financial Services for Banking and Capital Markets
Google Cloud has launched Gemini Enterprise for Financial Services, offering specialized AI agents and 13 market data connectors for global banking.
SalamAir Establishes Salalah’s First-Ever Airline Base in Dhofar
SalamAir has established Salalah’s first-ever airline base, expanding direct international connectivity and flight operations from the Governorate of Dhofar.
MIS Signs Data Center Hosting Agreement with PIF-Owned HUMAIN
MIS signs a five-year data center hosting contract with PIF-owned HUMAIN valued at over 30% of its 2025 annual revenue.
Custom AI Chips Challenge Nvidia Merchant GPU Market Leadership
Tech giants including OpenAI, Google, and Amazon are developing custom AI chips, challenging Nvidia’s traditional dominance in the merchant GPU market.