Google Cloud Expects to Contribute $110 Billion to Saudi Economy

Startups and large enterprises can exploit Google Cloud's capabilities to develop innovative solutions and keep up with the latest technologies. (Shutterstock)
Startups and large enterprises can exploit Google Cloud's capabilities to develop innovative solutions and keep up with the latest technologies. (Shutterstock)
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Google Cloud Expects to Contribute $110 Billion to Saudi Economy

Startups and large enterprises can exploit Google Cloud's capabilities to develop innovative solutions and keep up with the latest technologies. (Shutterstock)
Startups and large enterprises can exploit Google Cloud's capabilities to develop innovative solutions and keep up with the latest technologies. (Shutterstock)

Google Cloud, the cloud computing arm of the technology giant Google, expects to contribute about $110 billion to the Saudi economy over the next seven years.

Abdul Rahman Al-Thehaiban, General Manager of Google Cloud in the Middle East, Türkiye and Africa, said the recent establishment of three cloud zones in Dammam, Doha and South Africa embodies Google Cloud’s dedication to strengthening its infrastructure to better serve the diverse needs of the region.

In an interview with Asharq Al-Awsat on the sidelines of LEAP, the international tech event, which was held in Riyadh on March 4-7, Al-Thehaiban noted that the establishment of the three cloud zones “not only indicates a major investment in the future of the digital landscape in the region, but also makes us a pivotal player” in the technological revolution sweeping these markets.

He added that Google Cloud’s approach was based on three basic pillars: infrastructure development, ecosystem partnership, and capacity building.

Badr Al-Madi, General Manager of Google Cloud in Saudi Arabia, pointed out that the launch of the cloud zones in November meets the needs of 1.2 million small and medium enterprises in the Kingdom, highlighting the importance of this achievement for the technology giant.

Regarding the broader economic impact of Google Cloud’s operations in Saudi Arabia, Al-Madi expects a contribution of about $110 billion to the local economy over the next seven years.

This contribution is likely to be driven by changes in business models and the creation of about 150,000 job opportunities, “which confirms the role of Google Cloud in supporting not only the digital landscape but also the general economy in the region,” he underlined.

Google Cloud is working to expand its internal team and launch centers of excellence that are designed to “raise the level of skills and ensure that the local workforce is equipped to benefit from Google Cloud technologies effectively,” according to Al-Thehabian, who emphasized the importance of these initiatives in supporting the digital transformation journey in the region.

Al-Madi believes that launching the cloud zone in November 2023 is consistent with the goals of Saudi Vision 2030, which seeks to enhance the contribution of small and medium-sized companies to the GDP and stimulate economic growth.



Turkish Stocks Jump as PKK Disbandment Adds to Trade Relief

 People walk on a small street leads that to the historical Galata Tower in Istanbul, Türkiye, April 25, 2025. (Reuters)
People walk on a small street leads that to the historical Galata Tower in Istanbul, Türkiye, April 25, 2025. (Reuters)
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Turkish Stocks Jump as PKK Disbandment Adds to Trade Relief

 People walk on a small street leads that to the historical Galata Tower in Istanbul, Türkiye, April 25, 2025. (Reuters)
People walk on a small street leads that to the historical Galata Tower in Istanbul, Türkiye, April 25, 2025. (Reuters)

Turkish stocks jumped on Monday, bonds climbed and the lira rallied against the euro as news the Kurdistan Workers Party (PKK) militant group was ending its four decade-long insurgency in the country added to US-China trade cheer.

Global share markets were enjoying a strong surge after the US and China agreed to slash tariffs, but Turkish equities outstripped most other bourses as they jumped more than 3%.

A PKK member said it was ceasing all military operations "immediately" following the group's decision to disband, a move that could boost NATO member Türkiye's political and economic stability.

The lira was up 1.3% against the euro and steady against the dollar, while its international market bonds, which have been losing ground for the last six months, were up nearly 0.7 cents.

The PKK decision followed an appeal from its jailed leader Abdullah Ocalan in February to disband. It is set to have far-reaching political and security consequences for the region, including in neighboring Iraq and also in Syria, where Kurdish forces are allied with US forces.

Omer Celik, spokesperson for President Recep Tayyip Erdogan's ruling AK Party, said the PKK's decision to dissolve was "an important step toward a terror-free Türkiye".

There have been intermittent peace efforts over the years, most notably a ceasefire between 2013 and 2015 that ultimately collapsed.

The PKK's move should now give Erdogan the opportunity to boost spending in the mainly Kurdish southeast of Türkiye, where the insurgency has handicapped the regional economy for decades.

Analysts welcomed the PKK move but added a note of caution.

"It can only be good news," said Christopher Granville, managing director of EMEA & Global Political Research at investment advisory firm TS Lombard. "But is it decisive for the difficult Turkish investment case?"

He said the PKK issue was ultimately "secondary" to questions about Türkiye's recent arrest of Erdogan's main political rival, Istanbul Mayor Ekrem Imamoglu, and the broader direction of its macroeconomic policy.

Those concerns have weighed on Turkish markets this year.

MSCI's Türkiye equities index is down more than 13% compared to a near 8% rise in its pan-emerging market index., while lira-denominated government bonds have cost investors more than 8% on a total returns basis.

The cost of insuring Ankara's government debt using Credit Default Swaps (CDS) has also shot up, although Monday's rally saw that ease back.

"A continuation of the pullback (in CDS levels) ... may support banking stocks, which have been the negatively differentiated sector in BIST (Turkish stocks index) in the last 2 months," Garanti BBVA Yatirim's Director Ozgur Yurtdasseven said.

Turkish banking stocks were up 3.8% on the day, but remain more than 16% down on the year in lira terms and more than 20% in dollar terms.