Gulf common market sees growing economic integration
Economic, investment and services activity within the GCC expanded by the end of 2024, according to the Gulf Common Market – Facts and Figures publication issued by the GCC Statistical Centre (GCC-Stat).
The number of public joint-stock companies, whose shares are permitted to be traded by GCC citizens, rose to 748, an increase of 30.3 percent compared with 2023.
The total capital of these companies reached US$549 billion, while the number of shareholders stood at 246,600 in 2024. GCC-Stat said the figures reflect the application of the non-discrimination principle, enabling GCC citizens to trade and buy shares and establish companies across GCC capital markets, deepening financial markets and strengthening links among them.
The publication said allowing GCC citizens to invest, set up projects and conduct commercial activities in any GCC member state has increased the Gulf Common Market’s attractiveness for intra-GCC investment. As a result, Intra-GCC trade reached $146 billion in 2024, and 30 GCC commercial banks are licensed to operate across member states.
The number of licences granted to GCC citizens to practise economic activities in other member states reached 96,300 in 2024, the report said.
In early 2026, iraq expects 500 mw from GCC countries
Baghdad is launching another phase in the development of its energy infrastructure as it expects the first 500 megawatts of the country’s electricity interconnection project with the Gulf States in early 2026.
The spokesperson for the Iraqi Electricity Ministry, Ahmed Musa, confirmed on Thursday that Iraq’s electricity interconnection project with the Gulf Cooperation Council (GCC) countries will be operational in early 2026 with an initial capacity of 500 megawatts, the state-run news agency (INA) reported.
Musa described the step as important in Iraq’s efforts to diversify energy sources, enabling the country to have access to the regional energy market.
The UAE’s official news agency (WAM) reported in mid-December that the Iraqi Ministry of Electricity and the Gulf Cooperation Council Interconnection Authority (GCCIA) are finishing plans to commence the project.
During meetings held recently in Bahrain, the two parties reviewed operation contracts that needed to be signed before the project’s formal inauguration.
This milestone follows similar interconnection projects Iraq carried out with neighboring Jordan and Turkey.
With more interconnection plans being prepared, the current phase is an essential step toward reducing dependency on imports and strengthening the stability of Iraq’s national grid.
Kuwait to host DCO 5th general assembly with worldwide digital economy leaders
The Digital Cooperation Organization has announced that its fifth General Assembly will take place from February 4–5 2026 under the presidency of Kuwait.
The two-day event is the organisation’s flagship annual gathering and will bring together the full digital ecosystem, including ministers from member states, observers, partners, policymakers, CEOs, innovators and representatives from more than 60 countries.
The aim is to help shape the global digital agenda at a time of rapid technological change.
The General Assembly will serve as the main forum to review progress, set strategic priorities and launch new initiatives aligned with the 2025–2028 four-year agenda.
H.E. Omar Saud Al-Omar, Minister of State for Communication Affairs of the State of Kuwait and Chairperson of the DCO Council for the current term, said: “Hosting the fifth General Assembly of the Digital Cooperation Organization and the International Digital Cooperation Forum reflects the importance of strengthening multilateral co-operation and enhancing collective efforts to keep pace with the rapid transformations shaping the global economy, particularly in the fields of AI and advanced technologies.
Oman to launch international financial centre
Oman has approved the creation of an international financial centre, giving the sultanate a new tool to attract capital and reduce its dependence on oil as it steps up economic diversification.
The centre is to have legislative, administrative and regulatory autonomy and it will be built on a new financial, judicial and legislative framework aligned with international standards, the Oman News Agency said on X on Tuesday. Details on the centre’s launch and timeline were not disclosed.
Oman has been taking steps to diversify its economy away from oil, following the example of its neighbours, with investments in sectors such as logistics, manufacturing and property to expand its non-oil economic base.
Under its economic and social reforms programme, the sultanate aims to reduce its dependence on oil income by 15 percent of its gross domestic product by 2030 and further reduce it by 18 percent by 2040.
Qatar’s economy grows 2.9 pc in q3 2025
Qatar’s economy maintained growth in the third quarter of 2025, with real GDP rising by 2.9 percent compared to the third quarter of 2024. This growth was driven primarily by non-oil activities, which expanded by 4.4 percent, according to a recent statement issued by the National Planning Council (NPC).
Real GDP estimates for the third quarter of 2025 reached QAR186.1 billion at constant prices, compared with QAR180.9 billion in the third quarter of 2024.
The statement revealed that non-oil activities accounted for 65.5 percent of real GDP, with value added reaching QAR121.9 billion in the third quarter of 2025, compared to QAR116.8 billion in the same period of 2024. This represents a year-on-year increase of 4.4 percent, in line with the objectives of the Third National Development Strategy (NDS3) and Qatar National Vision 2030.
Within Qatar’s non-oil economy, the fastest-growing activities on a year-on-year basis were construction, wholesale and retail trade, repair of motor vehicles and motorcycles, and accommodation and food service activities.