Featured
Saudi Arabia’s Business Gauge Slowed to Five-Month Low in July

(Bloomberg) — A measure of activity in Saudi Arabia’s non-oil private sector dropped in July for the first time this year, hitting a five-month low in a sign that economic growth was losing momentum at the start of the third quarter.
The IHS Markit Purchasing Managers’ Index fell to 56.6 after reaching a 19-month high of 57.4 in June. Export orders rose at the quickest pace since February 2017, but there was only a marginal increase in employment, and businesses surveyed reported lower optimism over future output.
“Saudi Arabia’s non-oil private sector started the second half of the year growing at a healthy rate,” Phil Smith, principal economist at IHS Markit, said in the report. “However, the survey’s indicators for output, new orders and future expectations are all signaling some loss of momentum compared with the second quarter.”
The kingdom has struggled to get its economy back on track since it contracted 0.7% in 2017, an after-effect of the oil price rout and austerity measures that hit businesses hard. Second-quarter budget data showed that a long-promised injection of government cash was finally materializing as officials try to boost growth. Gross domestic product is expected to grow 1.7% this year, according to data compiled by Bloomberg.
-
Banking & Finance1 month ago
Oman Arab Bank Announces Increase of Authorised Capital to RO500mn and Paid‑In Capital Boost of RO50mn
-
OER Magazines2 months ago
OER, May 2025
-
Bahrain1 month ago
SPIEF 2025 focused on global and regional economic processes, market transformation, new tech, investment climate, financial policy and people
-
Banking & Finance2 months ago
Central Bank of Oman Issues Regulatory Framework for Digital Banks
-
Banking & Finance2 weeks ago
National Finance Reinforces Position as Partner for Growth, Offers a Comprehensive Product Suite to Support Customer Ambitions
-
Insurance2 months ago
Liva Insurance Sets New Benchmark with ‘Innovative Insurer of the Year’ Award at the New Age Banking Summit 2025
-
Banking & Finance1 month ago
The Future of the International Financial System to be discussed at SPIEF 2025
-
Energy4 weeks ago
Russian Energy Week from October 15-17, 2025 offers alternative formats of cooperation
You must be logged in to post a comment Login