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Economy Middle East Summit 2025
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Economy Middle East Summit 2025
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Industry
Saudi Arabia launches King Salman Automotive Cluster, targeting $24.5 billion GDP boost by 2035
The hub will drive Kingdom's economic diversification and serve as a catalyst for sustainable transportation
Banking & Finance
Dubai’s TECOM Group posts record revenue of $653.4 million in 2024
The Group saw 14 percent YoY increase in net profit, reaching $326.7 million
Economy
Bank of England cuts interest rates to 4.5 percent, lowest since 18 months
This decision follows December's unexpected inflation drop from 2.6 percent to 2.5 percent
Egypt
Egypt welcomes 15.78 million tourists in 2024, aims for 30 million annually in coming years
The country received 8.7 million tourists in the first half of the current fiscal year
Saudi Arabia
LEAP 2025 to highlight innovation through culture, entertainment and heritage
Program will span a week, continuing until February 13, at various locations throughout Riyadh
Banking & Finance
Saudi Arabia: Fiscal Sustainability Program plan completed, a milestone achievement for Vision 2030
The program boosted non-oil revenues from SAR186 billion in 2016 to SAR458 billion in 2023
Markets
Gold demand surges YoY to record $382 billion, global investment up by 25 percent: Report
Central banks' strong purchases and high gold prices drove demand to a record high of 4,974 tons
Banking & Finance
Egypt’s net international reserves surge to $47.26 billion in January
The reserves were recorded at $47.109 billion in December
Economy
Saudi Arabia’s debt capital market poised to exceed $500 billion by end of 2025: Report
Fitch has reaffirmed Kingdom's credit rating at A+ with a stable outlook
Real Estate
Riyadh and Jeddah to see 394,900 square meters of new lifestyle retail space by 2027: Report
Since 2021, Saudi Arabia’s lifestyle retail market has evolved significantly, driven by Vision 2030 ambitions
Technology
Alphabet shares slip after mixed Q4 results amid slowing cloud growth and $75 billion CapEx plans
The company’s advertising sector showed resilience, with revenue climbing to $72.4 billion
Banking & Finance
Oman’s broad money supply grows 11 percent to $64.5 billion
Currency issued fell 5.2 percent to OMR1.5 billion by November 2024 from OMR1.58 billion
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