UAE Non-Oil Business Activity Surges to Nine-Month High in December

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 The United Arab Emirates' non-oil private sector recorded its fastest expansion in nine months in December 2024, buoyed by strong domestic demand and increased business activity, according to the latest S&P Global Purchasing Managers’ Index (PMI) report. PMI Highlights Robust Growth The seasonally adjusted UAE PMI climbed to 55.4 in December from 54.2 in November, signaling robust growth well above the 50.0 threshold that separates expansion from contraction. This marked the third consecutive monthly increase, underscoring sustained recovery in the non-oil sector. Key drivers of growth included a notable rise in new business activity. The new orders subindex rose sharply to 59.3 in December from 58.0 in the previous month, reflecting strong domestic demand. Challenges Amid the Growth While domestic demand flourished, export growth slowed, with the export orders subindex dropping to a seven-month low. Additionally, businesses faced mounting backlogs due to capacity constraints,...
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Saudi Capital Market Forum: Tadawul IPO Pipeline Strengthens

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At the Saudi Capital Market Forum in Riyadh, Mohammed El Kuwaiz, Chairman of the Capital Markets Authority, revealed that Saudi Arabia's Tadawul stock exchange has witnessed a notable increase in companies seeking to list. The current IPO pipeline includes 56 companies, a 30% rise from the previous year, indicating a shift towards Saudi Arabia becoming a net importer of capital.

This surge in interest underscores the kingdom's growing status as a regional investment hub. To support this transformation, El Kuwaiz stressed the importance of developing a robust infrastructure tailored to the evolving needs of the capital market, further solidifying Saudi Arabia's position in the global financial landscape.

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