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GDP
THIS MORNING: Goldman Sachs revises up year-end Brent forecast to USD 90
The US steps up as the global energy stabilizer as the war sidelines Opec
Prolonged conflict could drag Saudi growth to 2% as BMI slashes GCC outlook
Overall, the GCC is expected to grow only 1.9%, down from 4.8%
THIS MORNING: Opec+ output sinks 20% in March as Saudi, Iraq flows drop
Saudi crude shipments to China to drop 50% to 20 mn barrels
Saudi’s A+ rating stands firm on war buffers, says S&P
Strategic oil pipelines and storage buffers shield the economy from maritime disruptions
Inflation
THIS MORNING: Saudi inflation to stay “contained” in 2026, says ENBD
Sab Invest debuts as Saudi’s first ETF market maker
Inflation cools in April
Readings remain stable at well under the 2% level, as higher oil prices could be…
Real estate prices fall further, easing 1.6% in 1Q 2026
The price index dropped by 1.6% y-o-y during the quarter
Saudi inflation ticks up modestly in March as conflict spillover remains muted
Housing still leads as the primary driver of price acceleration
PMI
Non-oil sector bounces back on local orders and ceasefire boost
The headline index rose to 51.5 in April from March’s 48.8
Non-oil private sector expands at a slower rate in November
The seasonally adjusted figure dropped to 58.5 in November, from 60.2 in October
Non-oil private sector growth hits nine-month peak in October
The seasonally adjusted figure rose to 60.2 in October, from 57.8 in September
Non-oil private sector growth reaches six-month high in September
The seasonally adjusted figure rose to 57.8 in September, up from 56.4 in August
Growth projections
IMF upgrades Saudi 2025 growth forecast to 4.0%
The upward revision is boosted by an increase in crude output, coupled with a robust…
GDP expands in 2Q on robust non-oil growth
Non-oil activities saw the strongest growth, expanding 4.7% y-o-y
Saudi GDP growth to fall behind peers in the GCC, poll suggests
Saudi’s GDP growth is set to come in at 4.5% in 2025, up 0.4 percentage…
IMF joins World Bank in trimming (ever so slightly) Saudi’s growth outlook
The IMF raised its Saudi GDP growth forecasts in 2025 to 6.0%
Purchasing managers’ index
Non-oil business activity posts strong expansion in August
The seasonally adjusted figure hit 56.4 during the month, slightly up from 56.3 in July
Non-oil business activity continues to expand, but loses momentum
While output expanded in July, the pace of growth was the slowest in three-and-a-half years
Saudi’s PMI dips in December for the first time since August
The new orders subindex climbed to 65.5 in December up from 63.4 the previous month
Non-oil economy posts record growth in November
Strong demand drove businesses to shore up their inventories and ramp up hiring
Tourism
Saudi travel market anchors uneven regional rebound
The airlines learned valuable lessons from Covid
Aseer readies its infrastructure for World Cup hosting duties
Chinese contractors are building a 130-km road between Abha and Jizan for an initial SAR…
Local travelers anchor the kingdom’s tourism in 1Q 2026
A 16% surge in local tourism helped mellow the impact of declining international arrivals and…
THIS MORNING: Egypt waives customs pre-registration to fast-track Gulf goods
The war is wiping USD 600 mn daily from Middle East tourism
Insurance
WSM gets the regulatory okay for new debt program
Plus: Jeddah Islamic Port gets a new shipping service
Growth + consolidation incoming for ins. sector
The strategy comes as the sector has long been dominated by health and motor coverage
3Q earnings keep rolling in
Bahri, Bupa Arabia, and AlRajhi Takaul saw their bottom lines widen in 3Q 2025, while…
Al Yamamah Steel’s Yanbu wind power factory goes live
ALSO- S&P Global reaffirmed Wataniya Ins.’s ratings at BBB+ and ksaAA+ on the Saudi National…
Real estate
Residential real estate sales plunge in 1Q on affordability, war uncertainty
An ongoing affordability squeeze already had buyers on the fence, regional conflict froze them there
THIS MORNING: Aramco explores USD 10 bn sale and leaseback of its real estate portfolio
Real Estate General Authority finishes digital mapping for the capital’s urban areas
Vacant property tax regulations near enforcement
Geographic zones will have different fees based on vacancy rates and costs
Retal goes regional with SAR 3.1 bn Omani development
The firm’s net income dropped by 12.9% y-o-y to SAR 59.3 mn in 1Q
Fintech
Fintech Muhlah closes SAR 28 mn seed round
The funding will support Muhlah in scaling its shariah-compliant financing
NowPay lands in KSA with USD 20 mn JV with Tas’heel
NowAccess is currently in its market-entry phase, focusing on Saudi-specific market requirements
Tamara is now licensed in the UAE
Plus: Starwood Capital to set up shop in DIFC
Saudi leads MENA VC with 173 transactions in 9M 2025 -Magnitt
MENA VC funding doubles, overtaking Southeast Asia
Islamic finance
SNB hires advisors for its potential FCY Sukuk issuance
The issuance will be made available for subscription to eligible investors locally and internationally
Retail investors can now buy pieces of sovereign sukuk
Good moring, wonderful people. We hope you had a great weekend and are looking forward…
Saudi Electricity Company redeems sukuks
The bonds were set to mature this week
BSF closes second issuance from USD 4 bn sukuk program
The offering was 4x oversubscribed