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Qatar's non-oil private sector growth slowed in April, with the PMI dropping to 50.7, reflecting a decline in new business and slower employment growth. Despite this, optimism remains for future growth driven by real estate, infrastructure, and tourism. Meanwhile, Kuwait's non-oil sector experienced significant expansion, with a PMI rise to 54.2, fueled by strong new orders and competitive pricing strategies.
Egypt is poised to face a foreign direct investment (FDI) slowdown due to new U.S. tariffs, with an external financing shortfall projected between $10 billion and $12 billion for 2025-2026. However, investments from Gulf Cooperation Council (GCC) countries, including a $7.5 billion deal from Qatar and Kuwait's potential $4 billion currency conversion, are expected to mitigate this impact and enhance Egypt's financial stability. Despite a surge in FDI to $23.7 billion in the first nine months of the fiscal year, future inflows may be tempered by the tariffs and a global trade slowdown.
Pakistani healthtech startup MedIQ has secured $6 million in a Series A funding round led by Rasmal Ventures and Joa Capital, aimed at expanding its operations across the Middle East, particularly in Saudi Arabia. Founded in 2020, MedIQ offers AI-driven healthcare tools and serves over 10 million customers, aligning its growth with Saudi Arabia's Vision 2030 healthcare transformation agenda. The investment reflects a broader trend of increasing funding in the MENA healthtech sector, which is rapidly evolving with a focus on digital integration and specialized investors.
Finnovex Qatar 2025 is set for June 24th in Doha, focusing on fintech's pivotal role in Qatar's Vision 2030. The summit will address digital transformation, fintech innovations, and building a secure digital economy, offering a platform for industry leaders to discuss the future of financial services in the region. Attendees can expect engaging discussions and networking opportunities aimed at shaping Qatar's digital financial landscape.
Two foreign investors are interested in Indonesia's wealth fund, Danantara, as announced by CEO Rosan Perkasa Roeslani during a virtual press conference. This interest follows President Prabowo Subianto's visit to Qatar, where a commitment of US$2 billion was made for the fund, primarily targeting infrastructure investments. The growing confidence in Indonesia's economic outlook is driving this investment momentum, reflecting a significant shift in the country's investment landscape.
Indian nationals in Gulf states, despite comprising only a quarter of the diaspora, contribute nearly 40% of India's bank remittances, sending home $118.7 billion in the fiscal year 2023-24. This trend is driven by the nature of their migration, as many work alone to support families back home, often through informal channels that may significantly increase actual remittance figures. Experts predict that Gulf migration will remain significant for the next 15 to 20 years, despite shifts in remittance patterns from other regions.
Indian nationals in Gulf states, making up just over a quarter of the diaspora, contribute nearly 40% of India's bank remittances, totaling $118.7 billion in the fiscal year 2023-24. The majority work alone, sending money home to support families, with actual remittances likely higher due to informal channels. Despite a shift in remittance sources, Gulf migration is expected to remain significant for the next 15 to 20 years.
Indian nationals in Gulf states, despite comprising just over a quarter of the diaspora, contribute nearly 40% of India's remittances, sending home $118.7 billion in the fiscal year 2023-24. This significant share is attributed to their focus on work and saving, as many live alone and send money back to support families. The actual remittance figures are likely higher due to informal channels, with Gulf migration expected to remain strong for the next 15 to 20 years.
Visa has launched its Visa+ service in Bahrain, allowing users to send money to Visa cardholders across the GCC using just the recipient's mobile number. Initially available to customers of Bahrain Islamic Bank and Khaleeji Bank, the service simplifies cross-border transfers and aims to expand its network to include more banks in the GCC, Pakistan, and the EU. This innovation is expected to enhance convenience for users and positively impact families and economies globally.
Qatari Riyal
Currency
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
qatar's non-oil sector growth slows while uae and kuwait expand
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