Saudi Arabia's non-oil private sector economy in January recorded the strongest expansion in more than a decade, buoyed by a surge in new orders, as the kingdom continues to diversify its economy away from hydrocarbons.
The headline Riyad Bank purchasing managers' index climbed to 60.5 last month, from 58.4 in December, well above the 50-point mark that separates expansion from contraction.
“This strong performance underscores the resilience of the non-oil private sector, fuelled by surging new orders and a significant rise in business output,” Naif Al-Ghaith, chief economist at Riyad Bank, said. “Nearly 45 per cent of firms observed higher sales volumes, attributing this growth to positive economic conditions and the acceleration of infrastructure projects.”
The rise in export orders further complemented domestic demand, particularly from the Gulf countries, reflecting effective marketing and competitive pricing strategies employed by businesses in the Arab world's largest economy, Mr Al-Ghaith added.
Economic overhaul
Saudi Arabia, the world's biggest oil exporter, is overhauling its economy under its Vision 2030 diversification agenda. It aims to reduce its dependence on oil, encourage domestic industries and create more jobs for its citizens. Developing non-oil industries such as aviation, tourism, technology, real estate and infrastructure projects is one of the central planks of Riyadh's diversification strategy.
The kingdom has also introduced sweeping fiscal, social and economic reforms to attract foreign investment and support the private sector to boost its economic contribution.
Saudi Arabia’s economy grew at the fastest pace since 2022 during the fourth quarter of last year, buoyed by expansion of the oil and non-oil sectors.
The country’s gross domestic product grew by 4.4 per cent on an annual basis during the three-month period to the end of December 2024 “supported by the growth of key economic activities”, according to its General Authority for Statistics. The rise is higher than the 2.8 per cent year-on-year GDP growth recorded in the third quarter of 2024.
Saudi Arabia's non-oil sector last month recorded the fastest increase in total new orders in 13 and a half years, which led to rapid expansion in activity and stocks, according to Riyad Bank survey data.
The sharp rise in new orders was due to “accommodative economic conditions” that supported a strong boost to customer orders, while some companies benefitted from new infrastructure projects, the report said.
Export sales also helped to boost new orders, with the latest data pointing to the fastest growth in foreign demand for 18 months in January. Some companies said increased marketing, competitive prices and better relations with international customers had driven up sales.
Year-ahead optimism
Businesses surveyed also reported an increase in activity in January, the sharpest for 18 months, driven by higher demand. The upturn reflected expansion across the sector, leading companies to hire more staff for the ninth consecutive month.
The latest survey data also showed the strongest year-ahead forecasts for business activity in 10 months.
“This came despite another uptick in input price pressures, which firms mainly attributed to increased material prices amid geopolitical tensions,” the report said.
The outlook for the kingdom's non-oil economy remains optimistic and businesses expect sustained demand growth and supportive market conditions throughout 2025. Mr Al-Ghaith said.
Employment trends underline the “positive sentiment”, while supply chain improvements and higher purchasing activity have improved efficiencies, preparing businesses for sustained growth.
“These indicators highlight the progress being made toward Saudi Arabia’s Vision 2030, as the economy diversifies and strengthens its non-oil foundations,” he said.
Egypt swings to growth
Meanwhile, Egypt's non-oil private sector began 2025 by swinging back to growth territory, recording its fastest expansion in more than four years as output and sales volumes increased while costs fell to an eight-month low.
The headline seasonally adjusted S&P Global Egypt Purchasing Managers’ Index rose to 50.7 in January, from 48.1 in December, reaching a 50-month high in the first month of the year.
"The ceasefire deal between Israel and Hamas likely added confidence to markets in January," David Owen, senior economist at S&P Global Market Intelligence, said.
Improved domestic market conditions drove January sales higher, supported by easing inflationary pressure, which helped to slow the rate of output price inflation to its lowest in four-and-a-half years. New orders, particularly in the manufacturing, construction and wholesale and retail sectors also rose.
Despite business conditions improving, companies were "restrained" in their outlook of future activity, with expectations slipping from December to a historically low level in January, according to the survey report.
"Business expectations for the next 12 months remain subdued, showing that firms are still uncertain about economic stability over the longer term," Mr Owen said.
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Killing of Qassem Suleimani
Analysis
Members of Syria's Alawite minority community face threat in their heartland after one of the deadliest days in country’s recent history. Read more
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Dhadak 2
Director: Shazia Iqbal
Starring: Siddhant Chaturvedi, Triptii Dimri
Rating: 1/5
Email sent to Uber team from chief executive Dara Khosrowshahi
From: Dara
To: Team@
Date: March 25, 2019 at 11:45pm PT
Subj: Accelerating in the Middle East
Five years ago, Uber launched in the Middle East. It was the start of an incredible journey, with millions of riders and drivers finding new ways to move and work in a dynamic region that’s become so important to Uber. Now Pakistan is one of our fastest-growing markets in the world, women are driving with Uber across Saudi Arabia, and we chose Cairo to launch our first Uber Bus product late last year.
Today we are taking the next step in this journey—well, it’s more like a leap, and a big one: in a few minutes, we’ll announce that we’ve agreed to acquire Careem. Importantly, we intend to operate Careem independently, under the leadership of co-founder and current CEO Mudassir Sheikha. I’ve gotten to know both co-founders, Mudassir and Magnus Olsson, and what they have built is truly extraordinary. They are first-class entrepreneurs who share our platform vision and, like us, have launched a wide range of products—from digital payments to food delivery—to serve consumers.
I expect many of you will ask how we arrived at this structure, meaning allowing Careem to maintain an independent brand and operate separately. After careful consideration, we decided that this framework has the advantage of letting us build new products and try new ideas across not one, but two, strong brands, with strong operators within each. Over time, by integrating parts of our networks, we can operate more efficiently, achieve even lower wait times, expand new products like high-capacity vehicles and payments, and quicken the already remarkable pace of innovation in the region.
This acquisition is subject to regulatory approval in various countries, which we don’t expect before Q1 2020. Until then, nothing changes. And since both companies will continue to largely operate separately after the acquisition, very little will change in either teams’ day-to-day operations post-close. Today’s news is a testament to the incredible business our team has worked so hard to build.
It’s a great day for the Middle East, for the region’s thriving tech sector, for Careem, and for Uber.
Uber on,
Dara
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
French business
France has organised a delegation of leading businesses to travel to Syria. The group was led by French shipping giant CMA CGM, which struck a 30-year contract in May with the Syrian government to develop and run Latakia port. Also present were water and waste management company Suez, defence multinational Thales, and Ellipse Group, which is currently looking into rehabilitating Syrian hospitals.
Retail gloom
Online grocer Ocado revealed retail sales fell 5.7 per cen in its first quarter as customers switched back to pre-pandemic shopping patterns.
It was a tough comparison from a year earlier, when the UK was in lockdown, but on a two-year basis its retail division, a joint venture with Marks&Spencer, rose 31.7 per cent over the quarter.
The group added that a 15 per cent drop in customer basket size offset an 11.6. per cent rise in the number of customer transactions.
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More from Neighbourhood Watch:
Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
Torque: 390Nm
Price: From Dh126,000
Available: Now
COMPANY%20PROFILE
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The biog
Hometown: Birchgrove, Sydney Australia
Age: 59
Favourite TV series: Outlander Netflix series
Favourite place in the UAE: Sheikh Zayed Grand Mosque / desert / Louvre Abu Dhabi
Favourite book: Father of our Nation: Collected Quotes of Sheikh Zayed bin Sultan Al Nahyan
Thing you will miss most about the UAE: My friends and family, Formula 1, having Friday's off, desert adventures, and Arabic culture and people
More on Palestine-Israeli relations
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
Straightforward ways to reduce sugar in your family's diet
- Ban fruit juice and sodas
- Eat a hearty breakfast that contains fats and wholegrains, such as peanut butter on multigrain toast or full-fat plain yoghurt with whole fruit and nuts, to avoid the need for a 10am snack
- Give young children plain yoghurt with whole fruits mashed into it
- Reduce the number of cakes, biscuits and sweets. Reserve them for a treat
- Don’t eat dessert every day
- Make your own smoothies. Always use the whole fruit to maintain the benefit of its fibre content and don’t add any sweeteners
- Always go for natural whole foods over processed, packaged foods. Ask yourself would your grandmother have eaten it?
- Read food labels if you really do feel the need to buy processed food
- Eat everything in moderation
Silent Hill f
Publisher: Konami
Platforms: PlayStation 5, Xbox Series X/S, PC
Rating: 4.5/5
UAE currency: the story behind the money in your pockets
Global state-owned investor ranking by size
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Dr Afridi's warning signs of digital addiction
Spending an excessive amount of time on the phone.
Neglecting personal, social, or academic responsibilities.
Losing interest in other activities or hobbies that were once enjoyed.
Having withdrawal symptoms like feeling anxious, restless, or upset when the technology is not available.
Experiencing sleep disturbances or changes in sleep patterns.
What are the guidelines?
Under 18 months: Avoid screen time altogether, except for video chatting with family.
Aged 18-24 months: If screens are introduced, it should be high-quality content watched with a caregiver to help the child understand what they are seeing.
Aged 2-5 years: Limit to one-hour per day of high-quality programming, with co-viewing whenever possible.
Aged 6-12 years: Set consistent limits on screen time to ensure it does not interfere with sleep, physical activity, or social interactions.
Teenagers: Encourage a balanced approach – screens should not replace sleep, exercise, or face-to-face socialisation.
Source: American Paediatric Association
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The specs
Engine: 3.9-litre twin-turbo V8
Power: 620hp from 5,750-7,500rpm
Torque: 760Nm from 3,000-5,750rpm
Transmission: Eight-speed dual-clutch auto
On sale: Now
Price: From Dh1.05 million ($286,000)
The specs: Macan Turbo
Engine: Dual synchronous electric motors
Power: 639hp
Torque: 1,130Nm
Transmission: Single-speed automatic
Touring range: 591km
Price: From Dh412,500
On sale: Deliveries start in October
Who was Alfred Nobel?
The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.
- In his will he dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".
- Nobel is best known as the inventor of dynamite, but also wrote poetry and drama and could speak Russian, French, English and German by the age of 17. The five original prize categories reflect the interests closest to his heart.
- Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.
Mohammed bin Zayed Majlis
The specs: 2018 Peugeot 5008
Price, base / as tested: Dh99,900 / Dh134,900
Engine: 1.6-litre turbocharged four-cylinder
Transmission: Six-speed automatic
Power: 165hp @ 6,000rpm
Torque: 240Nm @ 1,400rpm
Fuel economy, combined: 5.8L / 100km
A list of the animal rescue organisations in the UAE
Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
On sale: Now
Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh190,000 (Countryman)
What to watch out for:
Algae, waste coffee grounds and orange peels will be used in the pavilion's walls and gangways
The hulls of three ships will be used for the roof
The hulls will painted to make the largest Italian tricolour in the country’s history
Several pillars more than 20 metres high will support the structure
Roughly 15 tonnes of steel will be used
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Russia's Muslim Heartlands
Dominic Rubin, Oxford
Springtime in a Broken Mirror,
Mario Benedetti, Penguin Modern Classics
New process leads to panic among jobseekers
As a UAE-based travel agent who processes tourist visas from the Philippines, Jennifer Pacia Gado is fielding a lot of calls from concerned travellers just now. And they are all asking the same question.
“My clients are mostly Filipinos, and they [all want to know] about good conduct certificates,” says the 34-year-old Filipina, who has lived in the UAE for five years.
Ms Gado contacted the Philippines Embassy to get more information on the certificate so she can share it with her clients. She says many are worried about the process and associated costs – which could be as high as Dh500 to obtain and attest a good conduct certificate from the Philippines for jobseekers already living in the UAE.
“They are worried about this because when they arrive here without the NBI [National Bureau of Investigation] clearance, it is a hassle because it takes time,” she says.
“They need to go first to the embassy to apply for the application of the NBI clearance. After that they have go to the police station [in the UAE] for the fingerprints. And then they will apply for the special power of attorney so that someone can finish the process in the Philippines. So it is a long process and more expensive if you are doing it from here.”
Sui Dhaaga: Made in India
Director: Sharat Katariya
Starring: Varun Dhawan, Anushka Sharma, Raghubir Yadav
3.5/5
