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NEOM Tech and Digital Company Steps into the Future as ‘Tonomus’

CEO of Tonomus, Joseph Bradley. (NEOM)
CEO of Tonomus, Joseph Bradley. (NEOM)
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NEOM Tech and Digital Company Steps into the Future as ‘Tonomus’

CEO of Tonomus, Joseph Bradley. (NEOM)
CEO of Tonomus, Joseph Bradley. (NEOM)

NEOM Tech & Digital Company – the first company to be established as a full-fledged subsidiary of NEOM – on Tuesday launched as “Tonomus,” signaling the next stage in its growth trajectory as a cognitive multinational conglomerate.

Headquartered at NEOM since its 2021 inception as the pioneering project’s technology and digital lead, Tonomus is building the cognitive foundation and adopting hyper-disruptive solutions integral to the development of NEOM and its flagship initiatives, including THE LINE, OXAGON and TROJENA.

The rebranding represents a sharpened focus on the role of Tonomus as a cognitive multinational company, with this new phase essential to enabling NEOM to fuel Saudi Arabia’s economic growth and diversification.

The name change furthermore represents Tonomus’ commitment to realizing its vision, which includes attracting world-class tech talent to sustain and extend innovation, making Saudi Arabia a hub for global entrepreneurship and enabling NEOM to act as a global connector for the Kingdom.

Eng. Abdullah Alswaha, Minister of Communications and Information Technology and Chairman of Tonomus, said: “Tonomus has positioned NEOM as a global innovator of cognitive innovation with its constantly expanding portfolio of AI projects, its development of human-centric technologies and its collaborative partnerships with leading multinational tech companies.”

“Tonomus is strengthening economic growth and igniting diversification and innovation within Saudi Arabia with its cutting-edge technologies and solutions. It is creating multiple investment opportunities for local and international companies and has become a strong bridge connecting the Kingdom, the Middle east and North Africa and the world,” he added.

Nadhmi Al-Nasr, CEO of NEOM, said: “The launch of Tonomus confirms our progress towards achieving the goals of NEOM and Vision 2030. Tonomus will support our ambitions by contributing to the future of the tech and digital industry, stimulating innovation, and driving the development of the world’s first cognitive community.”

“This will be realized by involving the most talented and brightest minds to develop the integrated system that will be utilized across all of NEOM’s businesses, sectors and projects.”

Joseph Bradley, CEO of Tonomus, said: “Technology is constantly evolving, and – as a global disruptor and innovator – Tonomus is on the same forward-thinking and fast-moving trajectory toward the future.”

“With a new identity, renewed sense of purpose and focus on true inclusivity, Tonomus will be a synonym for cognitive tech and proactive, predictive solutions that fundamentally reimagine human experiences and the way we live,” he remarked.

“Tonomus is also nurturing entrepreneurship both within and beyond the organization, which will cement NEOM’s reputation as the epicenter of innovation, and Saudi Arabia as a place where the world’s brightest minds can bring their ideas to life.”

A new venture incubation studio plays a central role in helping the company turn concept into reality. Beverly Rider – CCO and interim CMO of Tonomus – leads both established and emerging entrepreneurs, as well as VCs and C-suite executives in developing Silicon Valley-modeled ventures.

In this context, Tonomus is NEOM’s trusted digitization partner, enabling the cognitive city vision via disruptive, sustainable solutions and empowering sectors that include Energy; Water; Education; Health, Well-being and Biotech; Food; Tourism; Media; Financial Services; and Mobility, as well as promoting data exchange and unifying the digital ecosystem.

The Tonomus leadership team includes Su Le, Chief Digital and Strategy Officer, whose contribution is vital to the company’s global aspirations, as well as the provision of professional services and signature experiences for the residents and businesses that make NEOM their home.

Tonomus has emerged as a global leader in the smart-to-cognitive transition, developing world-changing technologies and investing USD 1 billion in 2022 alone in AI-driven products and hyperconnected, predictive and proactive solutions. These include the first-of-its-kind, mixed-reality, digital twin metaverse with human needs at its core, and a cutting-edge consent management platform designed to restore trust and place personal data ownership back in the hands of users.

The rebrand represents the next step in the company’s ascent, which is rooted in co-inventing a robust cognitive foundation with global partners. A key element of this strategic pillar is the USD 200 million (SAR 750m) joint venture with Low Earth Orbit (LEO) satellite operator OneWeb, aimed at providing rapid and reliable connectivity and enabling NEOM’s groundbreaking ecosystem of cognitive technologies.

In addition to deploying 300km of fiber, 200 5G cell sites and a Telco Park, Tonomus’ Cognitive Connectivity Hub strategy comprises the establishment of ZeroPoint DC, NEOM’s half-billion-dollar, next-generation hyperscale data center, and a partnership with Oracle, the world's largest database management company.

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Business

IMF and Arab Monetary Fund Sign MoU to Enhance Cooperation

The MoU was signed by IMF Managing Director Dr. Kristalina Georgieva and AMF Director General Dr. Fahad Alturki - SPA
The MoU was signed by IMF Managing Director Dr. Kristalina Georgieva and AMF Director General Dr. Fahad Alturki - SPA
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IMF and Arab Monetary Fund Sign MoU to Enhance Cooperation

The MoU was signed by IMF Managing Director Dr. Kristalina Georgieva and AMF Director General Dr. Fahad Alturki - SPA
The MoU was signed by IMF Managing Director Dr. Kristalina Georgieva and AMF Director General Dr. Fahad Alturki - SPA

The International Monetary Fund (IMF) and the Arab Monetary Fund (AMF) signed a memorandum of understanding (MoU) on the sidelines of the AlUla Conference on Emerging Market Economies (EME) to enhance cooperation between the two institutions.

The MoU was signed by IMF Managing Director Dr. Kristalina Georgieva and AMF Director General Dr. Fahad Alturki, SPA reported.

The agreement aims to strengthen coordination in economic and financial policy areas, including surveillance and lending activities, data and analytical exchange, capacity building, and the provision of technical assistance, in support of regional financial and economic stability.

Both sides affirmed that the MoU represents an important step toward deepening their strategic partnership and strengthening the regional financial safety net, serving member countries and enhancing their ability to address economic challenges.

Business

Saudi Chambers Federation Announces First Saudi-Kuwaiti Business Council

File photo of the Saudi flag/AAWSAT
File photo of the Saudi flag/AAWSAT
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Saudi Chambers Federation Announces First Saudi-Kuwaiti Business Council

File photo of the Saudi flag/AAWSAT
File photo of the Saudi flag/AAWSAT

The Federation of Saudi Chambers announced the formation of the first joint Saudi-Kuwaiti Business Council for its inaugural term (1447–1451 AH) and the election of Salman bin Hassan Al-Oqayel as its chairman.

Al-Oqayel said the council’s formation marks a pivotal milestone in economic relations between Saudi Arabia and Kuwait, reflecting a practical approach to enabling the business sectors in both countries to capitalize on promising investment opportunities and strengthen bilateral trade and investment partnerships, SPA reported.

He noted that trade between Saudi Arabia and Kuwait reached approximately SAR9.5 billion by the end of November 2025, including SAR8 billion in Saudi exports and SAR1.5 billion in Kuwaiti imports.

Business

Leading Harvard Trade Economist Says Saudi Arabia Holds Key to Success in Fragmented Global Economy

Professor Pol Antràs speaks during a panel discussion at the AlUla Conference for Emerging Market Economies (Asharq Al-Awsat).
Professor Pol Antràs speaks during a panel discussion at the AlUla Conference for Emerging Market Economies (Asharq Al-Awsat).
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Leading Harvard Trade Economist Says Saudi Arabia Holds Key to Success in Fragmented Global Economy

Professor Pol Antràs speaks during a panel discussion at the AlUla Conference for Emerging Market Economies (Asharq Al-Awsat).
Professor Pol Antràs speaks during a panel discussion at the AlUla Conference for Emerging Market Economies (Asharq Al-Awsat).

Harvard University economics professor Pol Antràs said Saudi Arabia represents an exceptional model in the shifting global trade landscape, differing fundamentally from traditional emerging-market frameworks. He also stressed that globalization has not ended but has instead re-formed into what he describes as fragmented integration.

Speaking to Asharq Al-Awsat on the sidelines of the AlUla Conference for Emerging Market Economies, Antràs said Saudi Arabia’s Vision-driven structural reforms position the Kingdom to benefit from the ongoing phase of fragmented integration, adding that the country’s strategic focus on logistics transformation and artificial intelligence constitutes a key engine for sustainable growth that extends beyond the volatility of global crises.

Antràs, the Robert G. Ory Professor of Economics at Harvard University, is one of the leading contemporary theorists of international trade. His research, which reshaped understanding of global value chains, focuses on how firms organize cross-border production and how regulation and technological change influence global trade flows and corporate decision-making.

He said conventional classifications of economies often obscure important structural differences, noting that the term emerging markets groups together countries with widely divergent industrial bases. Economies that depend heavily on manufacturing exports rely critically on market access and trade integration and therefore face stronger competitive pressures from Chinese exports that are increasingly shifting toward alternative markets.

Saudi Arabia, by contrast, exports extensively while facing limited direct competition from China in its primary export commodity, a situation that creates a strategic opportunity. The current environment allows the Kingdom to obtain imports from China at lower cost and access a broader range of goods that previously flowed largely toward the United States market.

Addressing how emerging economies should respond to dumping pressures and rising competition, Antràs said countries should minimize protectionist tendencies and instead position themselves as committed participants in the multilateral trading system, allowing foreign producers to access domestic markets while encouraging domestic firms to expand internationally.

He noted that although Chinese dumping presents concerns for countries with manufacturing sectors that compete directly with Chinese production, the risk is lower for Saudi Arabia because it does not maintain a large manufacturing base that overlaps directly with Chinese exports. Lower-cost imports could benefit Saudi consumers, while targeted policy tools such as credit programs, subsidies, and support for firms seeking to redesign and upgrade business models represent more effective responses than broad protectionist measures.

Globalization has not ended

Antràs said globalization continues but through more complex structures, with trade agreements increasingly negotiated through diverse arrangements rather than relying primarily on multilateral negotiations. Trade deals will continue to be concluded, but they are likely to become more complex, with uncertainty remaining a defining feature of the global trading environment.

Interest rates and artificial intelligence

According to Antràs, high global interest rates, combined with the additional risk premiums faced by emerging markets, are constraining investment, particularly in sectors that require export financing, capital expenditure, and continuous quality upgrading.

However, he noted that elevated interest rates partly reflect expectations of stronger long-term growth driven by artificial intelligence and broader technological transformation.

He also said if those growth expectations materialize, productivity gains could enable small and medium-sized enterprises to forecast demand more accurately and identify previously untapped markets, partially offsetting the negative effects of higher borrowing costs.

Employment concerns and the role of government

The Harvard professor warned that labor markets face a dual challenge stemming from intensified Chinese export competition and accelerating job automation driven by artificial intelligence, developments that could lead to significant disruptions, particularly among younger workers. He said governments must adopt proactive strategies requiring substantial fiscal resources to mitigate near-term labor-market shocks.

According to Antràs, productivity growth remains the central condition for success: if new technologies deliver the anticipated productivity gains, governments will gain the fiscal space needed to compensate affected groups and retrain the workforce, achieving a balance between addressing short-term disruptions and investing in long-term strategic gains.