Saudi Arabia approved its 2025 borrowing plan (139B SAR, ~$37B), including issuing local Islamic bonds. It covers the budget deficit (101B SAR) and debt repayment (38B SAR).
UAE non-oil sector expanded in Dec with highest PMI in 9 months. Output and new orders surged, but hiring was slow, impacting backlogs. Prices eased, optimism fell.
UAE is top global work visa destination in 2024, driven by its strong economy and tech focus. AI jobs to surge in 2025. Economic growth supports job market.
GCC inflation rose 1.5% YoY to Sept '24, led by housing (5.7%). Kuwait had highest rate (2.8%). Global growth & declining inflation expected.
Indonesia joins BRICS, a group of emerging economies, aiming to strengthen global cooperation and challenge Western dominance. It seeks a more inclusive global structure.
UK faces severe cold, with -20°C possible. Ice/snow warnings for parts of UK. Flooding receding, but transport disrupted. Many school closures.
