Saudi POS Spending Edges Up to $3.36bn as Digital Payments Hold Momentum
Weekly card and digital payment transactions remained above $3 billion, offering a useful snapshot of consumer demand and the Kingdom’s cashless economy transition.
Editorial Section: Business & Economy
GCC Banks Post $16.8bn in Q1 Profit as Regional Credit Expands
Kamco Invest data shows Gulf banks remained profitable in the first quarter, supported by broad credit growth across diversification-linked sectors.
UAE Non-Oil Growth Slows to Five-Year Low as June PMI Falls
The UAE’s private-sector expansion remained positive in June, but weaker activity, cautious client spending and competition pulled the PMI close to neutral.
Saudi Non-Oil Activity Hits Four-Month High Despite Export Slump
Domestic demand and project approvals lifted Saudi Arabia’s non-oil PMI in June, but export weakness and cost pressure show that growth remains uneven.
GCC Economy Forecast to Rebound in 2027 After Conflict-Led 2026 Shock
ICAEW-linked forecasts point to a sharp rebound after a difficult 2026, but the outlook depends on shipping security, reconstruction, oil flows and confidence.
Saudi POS Spending Rises to $3.36 Billion as Consumer Demand Holds
Weekly payment data show Saudi consumer spending remaining above the $3 billion mark, with food, restaurants and Riyadh transactions supporting the total.
UAE Growth Forecast Points to Temporary Slowdown Before 2027 Rebound
A slower 2026 outlook suggests that trade and travel disruptions are weighing on activity, even as forecasters expect a stronger recovery when oil and…
UAE Non-Oil PMI Slips to 50.8 as Firms Cut Staff
The private sector remains in expansion, but June’s weakest reading in more than five years signals pressure from client caution, tourism softness and cost…