Albudaiwi: Gulf Economy Achieves Growth Exceeding the Global Average

 Albudaiwi pointed out that the GCC labour market has witnessed remarkable growth in recent years (file photo/AFP)
Albudaiwi pointed out that the GCC labour market has witnessed remarkable growth in recent years (file photo/AFP)
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Albudaiwi: Gulf Economy Achieves Growth Exceeding the Global Average

 Albudaiwi pointed out that the GCC labour market has witnessed remarkable growth in recent years (file photo/AFP)
Albudaiwi pointed out that the GCC labour market has witnessed remarkable growth in recent years (file photo/AFP)

Secretary-General of the Gulf Cooperation Council (GCC) Jasem Albudaiwi affirmed that the Gulf economy is achieving growth exceeding the global average, and the Gulf labor market has grown by 25% in four years, thanks to the ambitious development visions of the GCC states.

Albudaiwi’s statements came during his speech at the 11th meeting of the Committee of Labor Ministers of the GCC countries, Thursday, in Kuwait City, chaired by Kuwaiti Minister of Social Affairs and Family and Childhood Affairs Dr. Amthal Hadi Haif Al Huwailah, who is the President of the current session. Present in the meeting were the GCC ministers of labor.

According to a press release by the GCC Secretariat General, Albudaiwi extended his thanks, appreciation, and gratitude to Amir of the State of Kuwait Sheikh Mishal Al-Ahmad Al-Jaber Al-Sabah for hosting the meeting, and for the facilities and support provided by the State of Kuwait for the success of the work of the Cooperation Council, emphasising the generous support and constant attention that joint Gulf action receives from the leaders of the GCC states, in all fields.

The GCC secretary-general explained that the committee meeting is being held in light of positive economic and social indicators that inspire optimism, as the International Monetary Fund has projected the economies of the GCC countries to grow by 4.1% in 2026, which is above the global average, SPA reported.

"This is driven by growth in the non-oil sectors, which have become the main engine of development thanks to ambitious visions and development projects," he explained.

Moreover, Albudaiwi pointed out that the GCC labor market has witnessed remarkable growth in recent years, as the number of workers in the GCC countries increased from about 27.9 million in 2020 to about 34.9 million in 2024, an increase of 24.8%.

"This reflects the success of policies aimed at reducing unemployment rates and expanding the role of the private sector, in addition to developing skills and increasing investment in the region," he stated.

Moreover, the GCC secretary-general emphasized that Gulf societies, with their vitality and youthful energy, constitute a significant wealth and an inexhaustible source of creativity, as participation rates in the Gulf labor market have surpassed the global average.

"This requires the development of labor policies capable of absorbing these energies and employing them in the best possible way," he underscored.

Furthermore, Albudaiwi praised the tangible progress in the field of empowering Gulf women, pointing to the increase in the percentage of female citizens in the total national workforce to 40.2% in the second quarter of 2024, compared to 36.4% in 2019, considering this a testament to the success of policies aimed at promoting gender balance and providing a supportive work environment for women.



Saudi E-Commerce Hits Record Monthly Sales over SAR30.7 Billion in October

A view of Riyadh, Saudi Arabia. (SPA file)
A view of Riyadh, Saudi Arabia. (SPA file)
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Saudi E-Commerce Hits Record Monthly Sales over SAR30.7 Billion in October

A view of Riyadh, Saudi Arabia. (SPA file)
A view of Riyadh, Saudi Arabia. (SPA file)

E-commerce sales in Saudi Arabia via "mada" cards soared to an all-time monthly high in October 2025, surpassing SAR30.7 billion.

The surge in sales represents a 68% year-on-year increase, totaling about SAR12.4 billion more than the SAR18.3 billion recorded in October 2024, according to the Saudi Central Bank (SAMA) statistical bulletin on Wednesday.

E-commerce sales for the third quarter (Q3) of 2025 hit SAR88.3 billion, up 15.2% from the previous quarter, representing an increase of about SAR11.6 billion over the SAR76.6 billion recorded in Q2.

On a monthly basis, e-commerce sales in October rose 6%, gaining approximately SAR1.6 billion over September’s total of SAR29.1 billion.

From January to October, "mada" data showed e-commerce sales grew 47.3%, rising by around SAR9.9 billion over the SAR20.9 billion recorded in January.

These figures cover transactions made via "mada" cards on e-commerce websites, apps, and digital wallets, and do not include credit-card payments.


Jeddah's King Abdulaziz Airport Launches First Direct Flight to Moscow

The expansion supports Jeddah Airports Company’s goal of broadening travel options and increasing air traffic revenue, leveraging the Kingdom's strategic location. (SPA)
The expansion supports Jeddah Airports Company’s goal of broadening travel options and increasing air traffic revenue, leveraging the Kingdom's strategic location. (SPA)
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Jeddah's King Abdulaziz Airport Launches First Direct Flight to Moscow

The expansion supports Jeddah Airports Company’s goal of broadening travel options and increasing air traffic revenue, leveraging the Kingdom's strategic location. (SPA)
The expansion supports Jeddah Airports Company’s goal of broadening travel options and increasing air traffic revenue, leveraging the Kingdom's strategic location. (SPA)

Jeddah's King Abdulaziz International Airport (KAIA) celebrated the launch of its first direct flynas flight to Moscow, operating three weekly flights between Jeddah and Vnukovo International Airport.

This initiative, in partnership with the Saudi Tourism Authority and the Air Connectivity Program, boosts air links between Saudi Arabia and Russia.

It marks KAIA's third direct Russian destination, following Makhachkala and Mineralnye Vody, which were inaugurated earlier this month by Azimuth Airlines.

The expansion supports Jeddah Airports Company’s goal of broadening travel options and increasing air traffic revenue, leveraging the Kingdom's strategic location.


China Widens Foreign Investment Incentive List to Stem Falling Inflows

People visit a shopping center in Beijing on December 20, 2025. (AFP)
People visit a shopping center in Beijing on December 20, 2025. (AFP)
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China Widens Foreign Investment Incentive List to Stem Falling Inflows

People visit a shopping center in Beijing on December 20, 2025. (AFP)
People visit a shopping center in Beijing on December 20, 2025. (AFP)

China on Wednesday listed more sectors eligible for foreign investment incentives, from tax breaks to preferential ​land use, in its latest effort to stem a prolonged decline in overseas capital inflows.

Under the 2025 edition of the catalogue of industries for encouraging foreign investment, China added more than 200 and revised about 300, with a ‌focus on ‌advanced manufacturing, modern services and ‌green ⁠and ​high-tech ‌sectors, the list jointly issued by the National Development and Reform Commission and the commerce ministry showed.

The new catalogue, which takes effect on February 1, 2026, replaces the 2022 version and continues a policy framework ⁠that offers foreign-invested enterprises tariff exemptions on imported equipment, preferential ‌land pricing, reduced corporate income ‍tax rates in ‍designated regions and tax credits for reinvestment ‍of profits.

The catalogue also extends incentives to central and western regions, as well as the northeast and Hainan, as Beijing seeks to attract ​more foreign investment into less developed areas.

China has in recent months ⁠taken a raft of measures to boost foreign investment, including pilot programs in Beijing, Shanghai and other regions to expand market access in services such as telecoms, healthcare and education, amid trade tensions with the United States.

Foreign direct investment in China totaled 693.2 billion yuan ($98.84 billion) from January to November this year, down 7.5% from the ‌same period last year, data from the commerce ministry showed.