India&rsquo;s Global Capability Centres (GCCs) are set to generate 4.25-4.5 lakh new jobs in 2025 and 1 million by 2030, expanding the sector&rsquo;s workforce to 3.3 million. According to the India GCC Growth Outlook 2024 report, 35% of GCCs plan to increase their workforce by 50-100%. The sector is also witnessing a sharp rise in women hires and demand for specialised skills across technology, finance, and manufacturing, reinforcing India&rsquo;s status as a global GCC hub.

India's GCC sector poised for massive growth: 4.5 lakh jobs in 2025, 1 million by 2030

The Indian government has raised the Foreign Direct Investment (FDI) limit in insurance companies from 74% to 100%, enabling full foreign ownership. This policy change aims to attract more capital into the insurance sector, a key player in India&rsquo;s economic growth. Finance Minister Nirmala Sitharaman confirmed that regulations on foreign investment will be simplified, aligning with the goal of &quot;Insurance for All&quot; by 2047. Industry experts believe this move will boost innovation, customer service, and overall industry growth, addressing India&#39;s declining insurance penetration.

India raises FDI limit in insurance to 100%, encouraging global investment

India&#39;s consumer market is projected to expand by 46% by 2030, reaching USD 4.3 trillion, driven by rising incomes, a youthful workforce, and rapid urbanisation, according to the Edelweiss Mutual Fund report. With a median age of 28, India is positioned to be a global consumption leader. Growth will be fueled by increasing purchasing power, dual-income households, urbanisation, and digital transformation. Shifts towards branded and organised retail are expected to unlock USD 600 billion in additional spending.

India's consumer market set for 46% growth by 2030

India&#39;s semiconductor market is projected to grow from USD 52 billion in 2024-25 to USD 103.4 billion by 2030, according to the India Electronics and Semiconductor Association (IESA). Mobile handsets, IT, and automotive sectors will remain key drivers. The report highlights the importance of continued innovation, R&amp;D investment, and government support for fabs. It calls for targeted incentives, local value addition, and workforce development to meet semiconductor growth goals.

India’s semiconductor market set to double and reach USD 103 billion by 2030

India is poised for a five-fold increase in green infrastructure and energy investments, reaching USD 358.46 billion (INR 31 trillion) by 2030, driven by renewable energy, oil and gas, and transportation. This push aligns with the country&rsquo;s net-zero emissions target, with sectors like Indian Railways playing a key role in decarbonization. To meet its Paris Agreement goals, India will require INR 10 trillion by 2070, leveraging public-private partnerships and global climate funds.

India set to see USD 358 billion green investment surge by 2030

India&#39;s fintech sector attracted USD 1.9 billion in funding in 2024, ranking third globally, although this represents a 33% drop from the previous year. The decline is attributed to global demand slowdown and geopolitical challenges. Despite this, India remains resilient, with two new unicorns and eight IPOs. Digital lending dominated, accounting for 64% of funding. Bengaluru retained its position as the top fintech funding hub, according to Tracxn&#39;s Annual India Fintech Report.

India's fintech sector ranks 3rd globally despite funding decline in 2024

India&#39;s economy is projected to grow by 6.6% in 2025 and 6.7% in 2026, driven by private consumption, robust investment, and significant infrastructure development, according to the UN&#39;s World Economic Situation and Prospects 2025 report. While India&#39;s growth in 2024 may dip to a four-year low of 6.4%, capital expenditure in infrastructure and strong export performance are expected to bolster long-term growth. However, risks such as geopolitical tensions, debt issues, and climate-related challenges remain.

India’s economy to grow by 6.7% in 2026, says UN report

As per media reports, Microsoft CEO Satya Nadella has revealed a USD 3 billion investment in India over the next two years to enhance the nation&#39;s AI and cloud infrastructure. The initiative includes new data centers, with a goal to train 10 million Indians in AI skills by 2030 through the ADVANTA(I)GE India program. Microsoft aims to ensure equitable access to AI education, particularly in underserved regions. The company also emphasizes its commitment to sustainable AI growth with renewable energy-powered data centers and a focus on responsible AI innovation.

Microsoft announces USD 3 billion investment in AI and cloud infrastructure in India

Unified Payments Interface (UPI) transactions have hit a record 16.73 billion in December 2024, an 8% month-on-month increase, totalling USD 271.96 billion (INR 23.25 trillion). For 2024, UPI saw a 46% rise in volume to 172 billion and a 35% value increase to&nbsp;USD 2.88 trillion (INR 247 trillion). IMPS and FASTag transactions also surged, reflecting India&#39;s expanding digital payment ecosystem, with daily UPI transactions averaging 540 million in December.

UPI transactions reach record high of USD 271.96 billion in December 2024

India&rsquo;s renewable energy capacity has exceeded 205 GW in 2024, with a record 24.72 GW added, driven by solar and wind power. The government targets 500 GW by 2030, requiring annual investments of USD 32 billion (INR 2.73 lakh crore). Initiatives like rooftop solar under the PM-Surya Ghar Muft Bijli Yojana and green hydrogen policies are advancing clean energy goals. Emerging technologies and public-private partnerships are key to overcoming infrastructure and cost challenges.

India’s renewable energy capacity surpasses 205 GW, investments to double by 2025

India&#39;s IT industry is set for a rebound in 2025, with 13-14% growth driven by AI, cloud, and cybersecurity adoption, according to industry experts. Initiatives like the Bengaluru-San Francisco corridor and the US-India AI partnership will bolster innovation and R&amp;D. IPO momentum remains strong, with startups gearing up for market debuts. Despite challenges, India&#39;s digital transformation strategy and robust tech spending promise a brighter future for the sector.

Indian IT industry poised for growth in 2025 amid AI and tech advancements

Indian companies receive record funding in 2024 reaching INR 10.67 trillion through sale of bonds. This fundraising activity has seen a boost as corporate firms seek to diversify and is driven by rising investor demand after the launch of Indian government bonds. Total fundraising through these bonds rose to INR 98,200 crore.

Indian firms raise INR 10.67 trillion via sale of bonds in 2024

Deloitte has forecasted India&rsquo;s economic growth at 6.5%-6.8% this fiscal, rising to 6.7%-7.3% by FY2026, driven by domestic consumption. While election uncertainties and geopolitical tensions slowed growth in early FY2025, resilience in services, manufacturing exports, and infrastructure development underpin recovery. Economist Rumki Majumdar highlighted the need for strategic focus on digitization, workforce readiness, and leveraging the demographic dividend to navigate global challenges and bolster India&rsquo;s manufacturing and trade competitiveness.

Deloitte projects India’s economy to grow 6.5%-6.8% in FY2025

India is set to achieve round-the-clock power for all by 2025, driven by increased coal, hydro, and renewable energy projects. Peak power demand is expected to hit 270 GW in 2025, rising to 446 GW by 2035. The government plans INR 9.16 trillion investments in transmission infrastructure by 2032. Renewable energy capacity will grow to 500 GW by 2030, while coal-based additions of 27 GW are slated for completion by 2032.

India targets 24x7 power supply by 2025 with major infrastructure expansion

India&#39;s healthcare sector is projected to grow to USD 320 billion (INR 27.3 lakh crore) by 2028, per Great Place To Work report. The pharmaceutical sector targets USD 130 billion by 2030, while biotechnology eyes USD 300 billion. AI investments in healthcare are expected to hit USD 1.6 billion by 2025. Companies are prioritising innovation, employee development and technological integration, with 85% investing in workforce growth to address challenges in productivity, transparency, and inclusive hiring.

India’s healthcare sector to reach USD 320 billion by 2028

Housing prices in India&rsquo;s top seven cities rose 13-30% in 2024, led by Delhi NCR (30%) and Bengaluru (28%), according to Anarock. The average price across cities increased by 21%, driven by higher input costs and strong demand. Despite a 4% decline in sales to 4.59 lakh units, overall sales value grew 16% to INR 5.68 lakh crore. Luxury housing saw a 24% rise in supply, with demand for spacious, branded homes continuing.

Housing prices in top Indian cities surge 13-30% in 2024 despite sales decline

India&rsquo;s branded hotel segment is expected to grow 13-14% in FY25, driven by domestic leisure travel, MICE events, and rising foreign tourist arrivals, according to CRISIL Ratings. The segment registered a 17% growth last year. Room additions are set to increase by 20% over two years, with 65% in leisure and non-metro destinations. Occupancy is projected at 74-75% in FY26, supported by asset-light expansion. Operating margins will improve by 100-150 basis points due to cost efficiency and operating leverage.

Branded hotels in India to see 13-14% revenue growth in FY25: CRISIL

India and the US are poised to redefine the global AI landscape through a synergistic partnership, combining America&rsquo;s tech leadership with India&rsquo;s growing innovation ecosystem, as highlighted by the US-India Business Council. Key initiatives include the Bengaluru-San Francisco corridor, AI regulatory frameworks, and joint R&amp;D in AI and semiconductors. With shared goals and democratic values, this partnership aims to create ethical, inclusive AI advancements, setting global standards and driving economic growth.

India and US strengthen AI collaboration to shape global innovation ecosystem

India and the Asian Development Bank enter into a USD 500 million loan in order to finance green infrastructure projects in India. The agreement was signed on December 20 and will involve extension of a sovereign guarantee to India Infrastructure Finance Company Limited. Previously, the Indian government and the Asian Development Bank have also signed a USD 350 million policy based loan for the logistics sector.

India and Asian Development Bank enter into loan agreement for green infrastructure projects

India&rsquo;s space regulator has recently received expressions of interest from 30 Indian companies to enter into public private partnerships for satellites. So far, the Indian National Space Promotion and Authorisation Centre has received 9 applications (each application being part of a consortium) involving 30 companies. This is a part of the Indian Governments larger strategy to monetise the sector and build home grown satellite constellations.

Indian government pushes for home grown satellites in India

India&rsquo;s data centre capacity to double to 2-2.3 GW by 2026-27 as per a report by CRISIL Ratings. This demand is also furthered by the rise of generative artificial intelligence and given the accessibility of high-speed data and rise of social media, digital payments and over the top platforms. The capacity additions in the sector are driving existing players and are also furthering addition of new players in the sector.

India’s data centre capacity to double by FY27

The Karnataka government has approved 9 industrial projects valued at INR 9,823.31 crore. Three of these projects are fresh investment proposals. The remaining 6 are expansions or amendments to existing plans. The Karnataka Government is also exploring the avenue of profit sharing between sugar mills and farmers. The government has also been urging investors operationalise their units within the prescribed timelines.

Karnataka government approves 9 industrial projects valued at INR 9,823 crore

Terminal Investment Ltd Sarl (TIL), a company headquartered in Geneva, investor and developer of container terminals across the globe, has signed a memorandum of understanding (MoU) with the Jawaharlal Nehru Port Authority (JNPA) and aims to invest INR 20,000 crore for construction of the Vadhvan Port Project. This is one of the largest port projects in India, worth INR 76,220 crore. The first phase of the project is set to conclude by 2029.

Swiss company TIL to invest INR 20,000 crore in India’s Vadhvan Port Project

India&#39;s smartphone exports have reached an unprecedented USD 2 billion in October 2024, driven largely by Apple&rsquo;s iPhone. According to Indian Cellular and Electronics Association (ICEA), exports for the first seven months of FY24 totalled USD 10.6 billion, a 37% YoY rise. With FY24 exports projected at USD 15 billion and FY25 targets of USD 18-20 billion, over 35% of production by value is expected to be exported. Apple&rsquo;s suppliers, including Foxconn and Tata Electronics, are key contributors to this growth.

India's smartphone exports hit record USD 2 billion in October 2024

The major regulatory developments, corporate litigation updates, major business developments in the region and other global developments.

LKS Test Video 4 for Newsletter

LKS Test Video 3 for Newsletter

As per a private sector survey, China&#39;s service activity grew rapidly in seven months into December 2024, driven by an increase in domestic demand. However, the orders from abroad have declined. The growth pace has increased since May 2024, exceeding the 50-mark that separates expansion from monthly contraction. The Caixin/S&amp;P Global services purchasing managers&#39; index (PMI) climbed to 52.2 in December 2024 from 51.5 the previous month. The results are consistent with China&#39;s official PMI, which indicated the country&#39;s non-manufacturing activity recovered to 52.2 from 50.0 in November.

China's service activity grew rapidly in seven months into December 2024

China&rsquo;s auto exports are forecast to grow by just 10% in 2025, a significant slowdown from 2024&rsquo;s 25% increase, according to the China Passenger Car Association. Despite strong domestic sales, the forecasted decline stems from the impact of EU tariffs on Chinese electric vehicles (EVs), and a reduction in exports to Russia. Meanwhile, sales of new energy vehicles (NEVs) in China surged by 40.7% in 2024, driven by government subsidies.

China’s auto exports to slow in 2025 amid tariffs and market pressures

China has renewed its trade-in subsidy program, offering up to UD 2,730 (20,000 yuan) for buyers trading in old vehicles for electric cars (EVs) or hybrids, and 15,000 yuan for purchasing gasoline cars with engines under 2 liters. The program, aimed at supporting the auto industry, especially EV sales, had a significant impact last year, contributing to 3.7 million car purchases and 920 billion yuan (USD 125 billion) in sales. The scheme now also extends to household appliances and tech gadgets, like smartphones and smartwatches, to stimulate consumer spending amid economic challenges.

China renews its trade-in subsidy for EVs

In its address to the nation, Chinese President Xi Jinping stated that the country&#39;s economy is expected to expand 5% in 2025. Xi said that &ldquo;The current economic operation faces some new situations, challenges from the uncertainty of the external environment and pressure of transformation from old drivers of growth into new ones, but these can be overcome through hard work&rdquo;. However, economists at Bloomberg estimated a growth rate of 4.5% for 2025, below the anticipated 5%, which is significantly lower than the 6% average seen prior to the pandemic.

Xi says China’s economy is expected to expand 5% in 2025

The US Government is set to finalise rules that would restrict Chinese software and hardware in connected vehicles on U.S. roads due to national security concerns, according to U.S. Commerce Secretary Gina Raimondo. These measures, proposed in September, could effectively prevent Chinese vehicles from entering the U.S. market, and automakers would need to remove Chinese components by 2027 for software and 2029 for hardware.

U.S. to finalise rules on banning Chinese vehicle software and hardware

Global economic growth is projected to remain steady at 2.8% in 2025, unchanged from 2024, according to the United Nations&#39; World Economic Situation and Prospects report. This is below the pre-pandemic average of 3.2%. The U.S. is expected to see a growth moderation from 2.8% in 2024 to 1.9% in 2025, while China&#39;s growth is projected to decrease slightly to 4.8% in 2025. In contrast, South Asia will continue to be the fastest-growing region, with a projected GDP increase of 5.7% in 2025, driven by India&#39;s 6.6% and 6.8% growth in 2025 and 2026, respectively.

UN projects global economic growth to remain unchanged at 2.8% in 2025

Malaysia is positioning itself as a global hub for energy and semiconductor manufacturing, leveraging increased investments and economic stability. Prime Minister Anwar Ibrahim highlighted strategic growth in renewable energy and AI infrastructure. The country aims to refine expertise in oil, gas, semiconductors, and Islamic finance. Economy Minister Rafizi Ramli announced plans for domestically produced GPUs and chips within a decade. With USD 100 billion investment targets, Malaysia is attracting global tech and chipmakers.

Malaysia aims to become energy and chip-making hub by 2025

As per the European Commission, Eurozone business sentiment has recently declined and the Economic Sentiment Indicator fell from 95.6 in November to 93.7 in December. The decline is due to political instability and the threat of tariffs from the U.S. as distrust is created in the industry due to significant weakening in production expectations, order books and stocks. As per the data published, factory orders recorded a more-than 5% downfall in November.&nbsp;&nbsp;

Eurozone Economic Sentiment Indicator fell to 93.7 in December from 95.6 in November

The U.S. Treasury and UK have announced extensive sanctions targeting Russia&#39;s energy sector. Major oil companies Gazprom Neft and Surgutneftegaz, along with 180 vessels and entities linked to Russia&#39;s seaborne oil exports, face restrictions. The sanctions also target oil traders, insurance providers, and shipping companies like Sovcomflot. Key entities such as Rosnefteflot and shadow fleet operators, which have facilitated Russian oil exports, are also included, aiming to curb Moscow&rsquo;s resources amid the Ukraine war.

US and UK impose new sanctions against the Russian energy sector

The South Korean Government has increased financial support for the eco-friendly vehicle and secondary battery industries by 18% year-over-year, allocating 21 trillion won in 2024. This includes 5.1 trillion won for autonomous vehicles, 8 trillion won for automobile parts, and 7.9 trillion won for secondary batteries (a 31.7% rise). Key measures also focus on hydrogen buses, enhanced EV subsidies, and next-gen battery test beds to address global challenges and support industry growth.

South Korea announces 21 trillion Won boost for EV and battery sectors in 2024

China has launched an action plan to combat illegal data collection, sales, and misuse, aiming to improve internet data security. Issued by six government departments, including the NDRC, the plan outlines measures to protect personal data, regulate corporate practices, and ensure fair competition. By 2027, the initiative envisions a secure data governance framework to drive a sustainable digital economy while balancing economic growth, privacy, and national security.

China releases action plan to tackle illegal data practices and enhance internet security

Issue 43 (Jan 1, 2024 - Jan 15, 2024)

Saudi Arabia has earmarked USD 2.7 billion (SAR 10 billion) to activate its Standard Incentives Program, aimed at boosting industrial investment and global competitiveness. The program, approved by the Council of Ministers in December, will provide financial support for up to 35% of initial project investments, capped at USD 13.3 million per project. Focus areas include chemical industries, automotive manufacturing, and machinery production, with additional sectors to be included in 2025. Expected to generate USD 6.1 billion in annual GDP, the initiative aligns with Vision 2030 goals of enhancing local industry and reducing imports.

Saudi Arabia Allocates USD 2.7 billion for industrial sector incentives

UAE President Sheikh Mohamed bin Zayed Al Nahyan and New Zealand Prime Minister Christopher Luxon witnessed the signing of a Comprehensive Economic Partnership Agreement (CEPA) at ADNEC. The CEPA aims to enhance trade by reducing barriers, granting duty-free market access, and fostering collaboration. Expected to triple bilateral trade to $5 billion by 2032, this agreement strengthens ties, promotes sustainable development, and supports UAE&rsquo;s $1 trillion trade vision by 2031.

UAE and New Zealand sign historic CEPA to boost trade and investment

According to a groundbreaking whitepaper released by the UAE government in collaboration with PwC, remote work has significantly contributed to lifestyle changes and productivity improvements post-COVID-19, with overall productivity rising by 4.6%. This boost is attributed to reduced commuting and benefits like acquiring new skills and fostering a more flexible work environment. The report outlines guidelines and strategies for the UAE to develop an effective remote work system by leveraging global trends and pandemic-era expertise.

Remote working boosts productivity by 4.6% in UAE

The Abu Dhabi Department of Economic Development (ADDED) has established the Abu Dhabi Registration and Licensing Authority (ADRA) to oversee business registration and licensing for mainland businesses and non-financial free zones. Aimed at enhancing compliance with local and global standards, ADRA consolidates regulatory processes and employs digital solutions to support investment and ease operations. The initiative aligns with Abu Dhabi&rsquo;s economic vision to attract talent, promote transparency, and boost global business connectivity.

Abu Dhabi establishes Abu Dhabi Registration and Licensing Authority

The UAE&rsquo;s non-oil business activity reached a nine-month high in December, with the Purchasing Managers&rsquo; Index (PMI) rising to 55.4 from November&rsquo;s 54.2, according to S&amp;P Global. The expansion was driven by strong demand conditions, reflecting the success of the UAE&rsquo;s Vision 2031 strategy to diversify its economy by promoting sectors like manufacturing, technology, and tourism. Dubai outpaced national growth, with its PMI reaching 55.5, buoyed by higher client demand and increased output.

UAE's non-oil economy reaches nine-month high in December 2024 to 55.4%

As reported by Arabian Business, the Saudi Arabia&#39;s General Directorate of Passports announced a major rule upgrade for dependents of residents and domestic workers located outside Saudi Arabia, providing that they can renew their residency permits online. For online renewal, individuals are required to visit the Ministry of Interior&rsquo;s electronic platform, Absher, or the Muqeem Portal after paying the service fees.

Saudi Arabia's residency permits can now be renewed online

According to data from the General Authority for Statistics, driven by rising mining and quarrying activities, Saudi Arabia&rsquo;s Industrial Production Index is up by 3.4% year-on-year in November 2024 to reach 103.8. The mining and quarrying sub-index recorded an annual increase of 1.2%, supported by a rise in oil output, which grew to 8.93 million barrels per day (bpd) in November from 8.82 million bpd in November 2023. Manufacturing activities also showed upward trends, growing 7.2% year-on-year due to a 17.6% increase in the manufacture of coke and refined petroleum products. In addition, production of chemicals and chemical products and food manufacturing increased by 1.6% and 1.5% year-on-year, respectively.

Saudi Arabia’s Industrial Production Index is up by 3.4% year-on-year in November 2024

According to the Statistics Centre &ndash; Abu Dhabi, Abu Dhabi&#39;s gross domestic product (GDP) has reached a record AED 301.8 billion for quarter 3 of 2024, leading to a 4.5% year-on-year growth. The non-oil sector is a key contributor with 6.6% growth, contributing 54% to Abu Dhabi&rsquo;s GDP. Combinedly, Abu Dhabi&rsquo;s GDP grew by 3.9% for the first three quarters of 2024, while the non-oil economy is up by 5.9%, reflecting sustained economic robustness.

Abu Dhabi's economy reaches AED 301.8 billion for Quarter 3 of 2024

The video game industry is booming in Saudi Arabia and is expected to play an important role in the country&#39;s economic diversification goals. As per a recent report released by US-based online gaming platform Mobile Premier League, Saudi Arabia has been placed at the second-highest global ranking for average daily time spent playing video games. With a young, tech-savvy population and increasing investment, including USD 38 billion from Savvy Games Group, the industry is poised to contribute USD 13 billion to GDP, as highlighted by Povilas Joniskis of Boston Consulting Group. The country&#39;s international collaborations, such as with Qiddiya and NEOM, along with high mobile gaming penetration, position Saudi Arabia as a future global gaming hub.

Saudi Arabia's video game industry set for global dominance by 2030

The Prime Minister and Minister of Foreign Affairs of Qatar has launched the Ministry of Commerce and Industry&#39;s (MOCI) Strategy and the Qatar National Manufacturing Strategy 2024-2030 with the aim of enhancing Qatar&rsquo;s National Vision 2030 by promoting sustainable economic growth by diversifying economic sectors. MOCI strategy is aiming to attain a compound annual growth rate of 3.4% for non-hydrocarbon GDP and attract USD 100 billion of foreign direct investment by 2030. Similarly, Qatar National Manufacturing Strategy 2024&ndash;2030 aims to raise the manufacturing sector&rsquo;s value-added contribution to QR 70.5 billion, boost non-hydrocarbon exports to QR 49 billion and attract annual industrial investments of QR 2.75 billion by 2030.

Qatar launches MoCI and Qatar National Manufacturing Strategy 2024-2030

Saudi Arabia solidified its dominance in the MENA venture capital landscape, contributing 40% of the region&#39;s $1.9 billion total funding in 2024, according to MAGNiTT. The Kingdom led with 178 deals, despite a 29% regional funding decline. Zension Technologies raised USD 30 million in January 2025, marking a robust start to the year. Revie secured USD 2.5 million and Vreal&rsquo;s pre-seed round highlighted AR/VR innovation. MSME lending surged 22.6% in Q3 2024, totaling USD 87.8 billion. Early 2025 trends show Saudi Arabia continuing its strong VC momentum.

Saudi Arabia leads MENA VC with USD 750 million in 2024, kicks off 2025 with big wins

As per a statement issued by Indonesia&#39;s investment ministry, Indonesia&rsquo;s Investment Ministry has announced USD 7.46 billion in investment commitments from Chinese firms following Minister Rosan Roeslani&rsquo;s December visit to Hangzhou, Quzhou, and Beijing. Key projects include Hongshi Holding Group&rsquo;s USD 5 billion industrial estate for silicon, polysilicon, and battery production, and China Jushi Co.&rsquo;s USD 1 billion fiberglass investment. Wankai New Materials pledged USD 1 billion for petrochemicals. Additionally, Huayou Holding will establish an R&amp;D center with tax incentives from Jakarta.

Chinese firms commit USD 7.46 billion to new investments in Indonesia

According to PitchBook, the number of active US venture capital investors declined by 26% to 6,175 in 2024, down from a peak of 8,315 in 2021. Over 50% of the USD 71 billion raised by US VCs was concentrated among nine mega-firms. Smaller VCs are struggling with extended capital return cycles and reduced LP allocations, with failure rates expected to rise further in 2025, reshaping the industry&rsquo;s dynamics.

US active venture capital investors drop 26% to 6,175 in 2024

Nvidia has invested USD 1 billion in 50 AI-focused startups and corporate deals in 2024, a 15% rise from USD 872 million in 2023, according to PitchBook and Dealroom. Key investments include OpenAI, Cohere, and CoreWeave. Nvidia&rsquo;s acquisitions, such as Israeli platform Run:ai, surged, outpacing the past four years combined. While fueling AI innovation, Nvidia faces antitrust scrutiny as it strengthens ties with startups heavily reliant on its GPUs amidst Big Tech&#39;s efforts to diversify.&nbsp;

Nvidia invests USD 1 billion in AI startups in 2024, marking a 15% increase

Japan has finalised a plan to cut greenhouse gas (GHG) emissions by 60% from 2013 levels by 2035, up from its 46% goal by 2030. The target, part of Japan&#39;s Green Transformation (GX) 2040 vision, aligns with net-zero ambitions by 2050. As per media reports, critics argue the goal falls short of the IPCC-recommended 66% reduction for 1.5&deg;C warming limits. Japan plans to submit its revised Nationally Determined Contribution (NDC) to the UN in February.

Japan to reduce its GHG emissions by 60% from 2013 levels by 2035

The World Bank has predicted China&#39;s economic growth at 4.9% this year from its June forecast of 4.8%. However, growth for 2025 is expected to fall to 4.5%, but the same is higher than the World Bank&#39;s earlier forecast of 4.1%. As stated by the authorities, &quot;slower household income growth and the negative wealth effect from lower home prices are expected to weigh on consumption into 2025.&quot;

World Bank forecasts economic growth in China for 2024, 2025

China&#39;s National People&#39;s Congress softened retroactive provisions in a new company law after protests in 11 cities over shareholder liability. The law, effective July, had allowed creditors to target former shareholders for unpaid debts. The legislative commission clarified it won&#39;t apply to those who sold shares before July. This move aims to address public discontent, sparked by cases like Evergrande&#39;s USD 300 billion collapse, and stabilise China&rsquo;s economic environment.

China eases controversial shareholder liability law amid protests

China&rsquo;s top legislature approved a Value-Added Tax (VAT) Law, effective January 1, 2026, consolidating previous regulations, according to Xinhua. VAT, China&rsquo;s largest tax category, contributed 38% of national tax revenue in 2023. Provisions include exemptions for specific agricultural products, imported research equipment, and services for welfare institutions. The move advances statutory taxation, with 14 of 18 tax categories now legislated. November&rsquo;s 1.36% VAT revenue rebound signals improving economic activity.

China approves value-added tax law; effective from Jan 2026

Issue 42 (Dec 16, 2024 - Dec 31, 2024)

The UAE has enacted a Federal Decree-Law to regulate medical products, pharmaceutical establishments and the pharmacy profession to position itself as a global pharmaceutical hub. The law governs licensing, manufacturing, marketing and distribution of medical products, including drugs, medical devices and biopharmaceuticals. Key provisions include fast-track approvals for innovative therapies, investment incentives to foster sector growth and strict penalties for violations, ranging from fines to license revocation. The law emphasises data protection for innovative products and introduces the UAE Pharmacopeia to ensure alignment with international standards. Entities covered under the law have a one-year grace period to comply, with the possibility of an extension.&nbsp;

UAE passes new law governing medical products, pharmacy profession and pharma establishments

The UAE economy has expanded by 3.6% in the first half of 2024, with GDP reaching USD 239.5 billion (AED 879.6 billion), according to the Federal Competitiveness and Statistics Centre. Non-oil sectors have grown 4.4% year-on-year, contributing 75% to GDP, led by transportation (8.4%), financial activities (7.6%), and construction (7.3%). Tourism also thrived, with hotel revenues rising 7% to AED 24.6 billion and guest numbers increasing 10.5% to 15.3 million.

UAE economy grows 3.6% in H1 2024, driven by non-oil sectors

A Dubai Chamber of Commerce report has revealed that Indian investors led non-Emirati new company registrations in the first nine months of 2024, with 12,142 firms joining. Pakistan followed with 6,061, and Egypt ranked third at 3,611. Trade and services dominated sectoral registrations (41.5%), followed by real estate (33.3%) and construction (10.4%). The findings underscore Dubai&rsquo;s strong appeal for global entrepreneurs and its growing reputation as a business hub.

Indian investors lead new company registrations in Dubai

Kuwait&#39;s Council of Ministers has approved a decree-law imposing a 15% tax on multinational entities operating across jurisdictions, effective 01 January 2025. The law aims to curb tax evasion and ensure tax revenue retention. Entities must register with the Tax Authority within nine months of enforcement. The Minister of Finance will issue executive regulations by mid-2025. This significant move reflects Kuwait&#39;s commitment to global tax transparency and compliance.

Kuwaiti Cabinet approves bill imposing 15% tax on multinational entities

The UAE economy is projected to expand by 4% in 2024, supported by growth in non-oil sectors like tourism, financial services, construction, and real estate, per the Central Bank&#39;s December review. Non-oil GDP is forecast to grow 4.9%, driven by diversification policies and rising foreign investment. By 2025, overall growth is expected to accelerate to 4.5%. Strong fiscal performance and increased trade underscore the UAE&rsquo;s commitment to economic resilience and diversification.

UAE economy projected to grow by 4% in 2024

As per the data issued by the Saudi General Authority for Statistics, Saudi Arabia&rsquo;s non-profit sector revenues have reached USD 14.4 billion in 2023, leading to an increase of 33% year-on-year and its expenditures have increased by 33%. It had 4,721 registered non-profit organizations in March 2024, which is a 182 % increase since 2018. This growth in the non-profit sector, being aligned with the objectives of Vision 2030, has raised its contribution to the gross domestic product to 0.87%, exceeding the 2023 target of 0.51% and aiming for an ambitious 5% by 2030.

Saudi Arabia’s non-profit sector revenues reach USD 14.4 billion in 2023

As per the report &lsquo;Creative Dubai: Navigating Tomorrow&rsquo;s Creative Landscape&rsquo;, unveiled by HH Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of the Dubai Culture and Arts Authority, Dubai&#39;s creative sector represented 6.1 % of the world&rsquo;s economy with a total value of USD 4.3 trillion. It&#39;s cultural and creative industries generated USD 5.98 billion in added value in 2022, contributing 4.6 % to the emirate&#39;s total GDP and attracting 898 foreign direct investment projects in 2023, increasing total capital inflows for FDI projects to AED 11.8 billion. Further, Dubai has more than 40 % of start-ups in the sector that have secured over USD 1 million worth of funding in the Mena region, with 306 based in the emirate.

Dubai’s creative sector, with a total value of USD 4.3 trillion, represents 6.1% of world economy

The UAE will broaden its Comprehensive Economic Partnership Agreements (CEPAs) in 2025, targeting new countries to enhance trade and investment ties, as stated by Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, via Emirates News Agency (WAM). Since 2021, the UAE has signed 24 CEPAs covering 2.5 billion people, boosting non-oil trade, clean energy, and technology sectors. Foreign trade surged 11.2% year-on-year in H1 2024 to AED 1.395 trillion.

UAE to expand Comprehensive Economic Partnership Agreements in 2025

The UAE&rsquo;s tourism sector is projected to contribute USD 64.2 billion (AED 236 billion) to GDP in 2024, accounting for 12% of the economy. Hotel revenues reached AED 33.5 billion in the first nine months, reflecting a 4% year-on-year increase, with occupancy rates averaging 77.8%. Passenger traffic at UAE airports surpassed 103 million by September. Initiatives like the &ldquo;National Tourism Charter&rdquo; and &ldquo;Green Tourism&rdquo; campaign further boost sustainable tourism and Emiratisation efforts. As per the World Economic Forum&rsquo;s 2024 Travel &amp; Tourism Development Index, the UAE has secured the top position regionally and 18th worldwide.

UAE tourism sector contributes 12% to the country’s GDP

As stated by JLL during its annual roundtable in Riyadh, Saudi Arabia&#39;s construction market is expected to grow to USD 91.36 billion by 2029 from currently valued USD 70.33 billion. Real estate demand is surging, with Riyadh leading investments and hotel investments forecasted to increase by 30% by 2025. Key megaprojects, including Diriyah Gate and King Salman Park, are driving growth under Vision 2030, while sustainability initiatives and public-private partnerships enhance the Kingdom&rsquo;s economic diversification efforts.

Construction market of Saudi to grow to USD 91.36 billion by 2029

H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, issued Executive Council Resolution No. (101) of 2024, establishing penalties for foreign banks violating administrative guidelines in Dubai. The resolution aims to enhance governance and compliance within the banking sector by setting clear standards. Effective upon its publication in the Official Gazette, the measure seeks to strengthen responsible banking practices in the emirate.

Dubai to flag and fine foreign banks for breaching administrative guidelines

The UAE&rsquo;s Ministry of Economy has announced a new pricing policy to regulate nine essential goods, including cooking oil, dairy, and rice, starting January 2, 2025. The policy includes three ministerial decrees to enhance consumer protection, promote fair pricing and stabilize markets. Ministerial decisions mandate price monitoring, unit pricing transparency, and a code of conduct for suppliers and retailers, aligning with the UAE&rsquo;s &ldquo;We the UAE 2031&rdquo; vision for sustainable economic growth.

UAE introduces new pricing policy for essential goods, effective January 2025

As per the latest Global Payments Report 2024 by Boston Consulting Group, the UAE&rsquo;s payments industry is expected to reach total revenues of USD 27.3 billion by 2028, marking a 45% increase over the next five years. The sector has seen robust growth from 2018 to 2023, with payments revenue of USD 9.8 billion in 2018 to USD 18.8 billion in 2023, at a CAGR of 13.8%. In addition, transaction volumes are also predicted to rise, from USD 1.7 billion in 2023 to over USD 3.1 billion by 2028, representing a 78% increase. On the contrary, global payments revenue growth is projected to decline, with CAGR halving to 5% through 2028.

UAE’s payments industry expected to reach USD 27.3 billion by 2028

As per Fitch Ratings, the debt capital market (DCM) in the Gulf Cooperation Council (GCC) region has exceeded the USD 1 trillion mark in outstanding debt as of November 2024, driven by strong oil revenues. Saudi Arabia leads with over $500 billion in debt, fueled by Vision 2030 projects, followed by the UAE and Qatar.Fitch Ratings&rsquo; latest report shows that GCC will remain one of the largest issuers of emerging-market dollar-denominated debt in 2025 and 2026 and predicts that the Federal Reserve may cut rates by 125 basis points to 3.5 percent by the last quarter of 2025.

GCC's DCM exceeds USD 1 trillion mark in outstanding debt, led by Saudi Arabia

As per the latest study titled &quot;Bridging the Customer AI Readiness Gap &ndash; The Opportunities Ahead for Partners,&rdquo; conducted by the Cisco Global AI Partners, over 26% of its surveyed partners in the UAE are expecting AI technologies to generate 76-100% of their revenue in the next four to five years. The study predicts a 75% rise in demand for AI technologies in the UAE in the next five years, with infrastructure, cybersecurity, and sustainability management identified as the key drivers of AI adoption. In addition, 37 percent of partners believe that AI will account for 26-50% of their revenue within the next year.

AI technologies to generate 76-100% of revenue in next 4 to 5 years: CISCO study

A Dubai Chamber of Commerce report reveals that Indian investors led non-Emirati new company registrations in the first nine months of 2024, with 12,142 firms joining. Pakistan followed with 6,061, and Egypt ranked third at 3,611. Trade and services dominated sectoral registrations (41.5%), followed by real estate (33.3%), and construction (10.4%). The findings underscore Dubai&rsquo;s strong appeal for global entrepreneurs and its growing reputation as a business hub.

The Ministry of Human Resources and Emiratisation (MoHRE) of the UAE has requested private sector companies in the country to meet their Emiratisation targets for 2024 by December 31. These targets are applicable to companies with 50 or more employees, which must achieve a 2% increase in the Emiratisation of skilled positions by the end of 2024. It also applies to a few specified companies having 20 to 49 employees and which are operating in rapidly growing economic sectors with the capacity to provide jobs and a suitable work environment.

December 31 deadline for UAE's private sector companies to meet their Emiratisation targets for 2024

Saudi Arabia freelance sector is booming, with 2.25 million individuals registered as freelancers by September 2024. Saudi&#39;s Ministry of Human Resources and Social Development has also launched the &ldquo;Future Work&rdquo; company in 2019 with the aim of improving the freelancing ecosystem by promoting modern workstyles, including remote work and flexible-hour freelancing and creating more job opportunities. The sector has contributed USD 19 billion to the gross domestic product in 2023, which is 2% of the Kingdom&rsquo;s total output. It has also led to a reduction of unemployment rates and the Kingdom has cut down its unemployment target to 5% by 2030, from the previous goal of 7%, as part of Vision 2030&rsquo;s ambitions.

Saudi's freelance sector on boom, 2.25 million individuals registered as freelancer by September 2024

As per the data released by Tumodo, a leading business travel platform, the MENA business travel sector has crossed the USD 17 billion milestone in 2024 and experienced a 35% expansion in booking values. The growth is attributed to the increase in demand for corporate travel, specifically in the UAE, where bookings increased by 250% as compared to 2023.&nbsp;Key trends included 5&ndash;6 day trips, preference for economy class (70%) and rising demand for premium accommodations.&nbsp;The sector is also supporting the UAE&rsquo;s Environment Vision 2030 by adopting eco-friendly transportation options, such as train travel and sustainable flight choices, which has led to a 20% reduction in CO2 emissions in 2024.

MENA business travel sector crosses USD 17 billion milestone in 2024

Singapore&#39;s non-oil domestic exports grew by 3.4% in November 2024, driven by a rise in electronics shipments, marking a recovery from October&#39;s 4.7% decline. Month-on-month, exports surged 14.7% on a seasonally adjusted basis. Export growth to Taiwan, Hong Kong, and Malaysia offset declines to key markets like the US, China, and Japan, according to Enterprise Singapore. The increase surpassed the expected 0.7% drop projected in a Reuters poll.

Singapore's non-oil exports surge 3.4% in November, beating forecasts

Euro zone business activity&nbsp; showed signs of recovery in December, with HCOB&#39;s composite PMI climbing to 49.5 from November&#39;s 48.3, though still below the 50 growth threshold. Services returned to expansion at 51.4, offsetting continued manufacturing contraction at 45.2. Despite eased downturns in Germany and France, economic challenges persist. The ECB&#39;s recent rate cuts and ongoing geopolitical tensions weigh on the region, with firms showing cautious employment and growth outlooks.

Euro zone PMI rises to 49.5 in December as services rebound

Geothermal energy could contribute 15% to global electricity demand growth by 2050, deploying up to 800 GW of capacity, as per the IEA&#39;s The Future of Geothermal Energy report. Investment in the sector may reach USD1 trillion by 2035, with costs potentially dropping 80% to USD50/MWh. Advanced geothermal technologies and oil and gas expertise are crucial to unlocking its potential, creating up to 1 million jobs and boosting clean energy innovation.

Geothermal energy could meet 15% of global electricity growth by 2050: IEA

The International Air Transport Association (IATA) has projected global airline revenue to surpass USD1 trillion in 2025, with a record 5.2 billion passengers expected. Net profits are forecasted at USD 36.6 billion, up from USD 31.5 billion in 2024, despite aircraft delivery delays from Boeing and Airbus. While fuel costs are set to decline, geopolitical uncertainties in the Middle East and Ukraine may pose challenges to the sector&#39;s growth.

IATA forecasts USD 1 trillion airline revenue with record 5.2 billion passengers by 2025

As per media reports, China&rsquo;s foreign trade reached USD 5.49 trillion (39.79 trillion yuan)&nbsp;in the first 11 months of 2024, growing 4.9% year-on-year. Exports surged by 6.7% to 23.04 trillion yuan, while imports increased 2.4% to 16.75 trillion yuan. November saw a 1.2% rise in total trade, maintaining eight consecutive months of growth. ASEAN remained China&rsquo;s largest trading partner, with trade totaling 6.29 trillion yuan, up 8.6% year-on-year.

China's foreign trade hits USD 5.49 trillion Up 4.9%

India&#39;s smartphone exports have hit a historic high in November 2024, surpassing USD 2.39 billion (INR 20,000 crore) in a singly month for the first time, with total exports reaching USD 2.44 billion&nbsp;(INR 20,395 crore). This 92% year-on-year increase was driven by Apple and Samsung, with Apple exporting over 80% of its India-made iPhones. The PLI scheme has significantly boosted exports, creating 900,000 jobs and generating INR 1.1 trillion in GST from 2021 to 2024.&nbsp;

India hits record USD 2.44 billion smartphone exports in November

An IBM report, &quot;APAC AI Outlook 2025,&quot; has revealed a strategic shift in AI adoption by Indian companies, focusing on long-term returns. Around 60% of Asia-Pacific firms anticipate significant AI benefits in 2-5 years. In India, 27% plan AI investments in customer satisfaction. Challenges like data accessibility (46%) and expertise gaps (42%) persist. The study underscores AI&#39;s potential for revenue growth, efficiency, and customer loyalty, emphasizing human-centered innovation.

60% of APAC firms expect AI benefits within 2-5 years: IBM study

Institutional investment in Indian real estate soared by 51% in 2024, reaching a record USD 8.87 billion (INR 75,324 crore), driven by robust demand across the housing, office, and warehousing sectors, as reported by JLL India. Foreign institutional investors (FIIs) contributed 63% of the total investment, with the residential sector attracting 45%, followed by office buildings (28%) and warehousing (23%). This surge surpasses the previous peak of USD 8.4 billion (INR 71,333 crore) in 2007, with deal activity rising by 47% year-on-year. Domestic investors also showed increased participation, accounting for 37% of the total, up from 19% between 2019-22. Investments in Real Estate Investment Trusts (REITs) tripled to nearly USD 800 million (INR 6,749 crore).

Real estate attracts a record USD 8.87 billion in institutional investment in 2024

India&#39;s imports from the UAE have risen sharply by 109.57% year-on-year to USD 6.12 billion in November 2024, leaving a USD 3 billion trade deficit, as per commerce ministry data. Exports to the UAE grew by 11.38% to USD 3 billion. Cumulatively, April-November imports from the UAE increased by 60.84% to USD 44.76 billion, while exports rose 15.25% to USD 23.94 billion, solidifying the UAE&#39;s role as India&rsquo;s third-largest trading partner.

India-UAE trade flourishes with FTA, imports surge by 109%

The Ministry of Electronics and Information Technology has invited proposals for developing a trusted Artificial Intelligence ecosystem. This will contribute to the endeavour of the India AI mission to foster accountability, mitigate AI harms and promote fairness in AI practices.&nbsp;The aim is to establish AI frameworks that align with the global standards and promote fairness. This will contribute towards creation of risk management tools and frameworks to enhance the safe deployment of AI in public services and test whether AI is able to perform in critical applications.

Meity invites proposals for development of AI ecosystem

The Securities and Exchange Board of India (SEBI) has relaxed key compliance norms for registered investment advisors (RIAs) and research analysts (RAs). New rules reduce minimum qualifications to graduation, waive prior experience requirements, and simplify periodic certification. The changes aim to attract more participants, including part-time advisors, while excluding trading calls from &quot;investment advice.&quot; Net worth norms are replaced with lower deposit requirements, fostering growth in a sector with under 1,000 RIAs.&nbsp;

SEBI relaxes boarding of investment advisors and research analysts’ norms

The business activity between India and the UK increased in 2024 with 121% rise in the value of payment received by clients in the UK from India, according to the latest data on payments and client referrals released by HSBC UK. This was attributed to the growing middle-class population in India leading to vast number of potential customers and opportunities for businesses along with the high level of language and technology skills which contribute to India being seen as a hub for global capability centres for multinational corporates. The Free Trade Agreement (FTA) negotiations between the two countries is further expected accelerate the growing India-UK trade.

Business between India and the United Kingdom increased in 2024

The real estate sector accounts for nearly 40% of global carbon emissions, heightening the pressure to mitigate its environmental impact.

Harnessing technology to accelerate net-zero journey in real estate

Issue 41 (Dec 1, 2024 - Dec 15, 2024)

The UAE&#39;s space sector has grown significantly, with investments surpassing USD 10.9 billion (AED40 billion), highlighted during the first Supreme Space Council meeting chaired by Sheikh Hamdan bin Mohammed. The sector saw a 29% annual growth in companies, and private investments contributed 44.3%. Current projects include asteroid belt exploration, Thuraya 4, and MBZ-SAT. Sheikh Hamdan emphasised collaboration and innovation to propel the UAE&#39;s space ambitions further.

UAE space sector achieves USD 10.9 billion investment milestone

Saudi Arabia is set to establish 18 new logistics zones with investments exceeding USD 2.66 billion (SAR10 billion), as part of its strategy to expand the number of zones from 22 to 59 by 2030. The initiative, announced during the sixth Supply Chain Conference in Riyadh, is aimed at bolstering the Kingdom&rsquo;s position as a global logistics hub, enhancing trade flows, and supporting sustainable economic growth in line with Vision 2030.

Saudi Arabia to invest USD 2.66 billion in 18 new logistics zones, targeting 59 zones by 2030

The UAE will implement a 15% Domestic Minimum Top-Up Tax (DMTT) for large multinationals with consolidated global revenues of EUR750 million or more starting January 2025, aligning with the OECD&rsquo;s global minimum corporate tax framework. This follows the UAE&rsquo;s introduction of a 9% corporate tax in 2023. Proposed incentives include a 30%-50% refundable tax credit for R&amp;D (from 2026) and employment-linked tax credits (from 2025), pending approval.&nbsp;

UAE introduces 15% minimum tax for multinationals

Merger and acquisition (M&amp;A) activity in the Middle East has surged by 88% year-on-year, reaching USD36 billion in the first ten months of 2024, driven by sovereign wealth funds and government-related entities in Saudi Arabia and the UAE. This surge aligns with global M&amp;A growth, which Bain &amp; Company forecasts will reach USD3.5 trillion by year-end. The region&rsquo;s focus on high-value deals in energy, technology, and advanced manufacturing has positioned it as a key global economic player. With a favorable regulatory environment, the Middle East continues to attract global investors, while strategic acquirers leverage both revenue and cost synergies. Additionally, the region has rapidly embraced generative AI to streamline deal processes.

Middle East M&A activity soars by 88% in 2024, contributing to global growth

The UAE maintained its global competitiveness momentum in 2024, ranking first in 223 indicators, up from 215 in 2023, according to the IMD World Competitiveness Yearbook. The country excelled in the Quality of Air Transport Infrastructure and ICT Infrastructure (perfect score). It secured top-five spots in 444 metrics, including economic performance (2nd) and government efficiency (4th). Further, the nation excelled in digital services, FDI growth, and infrastructure quality, cementing its leadership in human development and economic innovation globally.

UAE achieves top global rankings in 2024 competitiveness reports

The chip testing and packaging industry, which is currently dominated by China and Taiwan, is expanding at a fast pace in Vietnam, which has now secured its place in the USD 95 billion segment. The foreign companies are now increasing their investments and capacity in Vietnam for testing and packaging chips, with South Korean companies expecting to invest about USD 930.49 million until 2026 to boost packaging operations for legacy memory chips on the one hand and U.S.- headquartered Amkor Technology planning to build a 200,000 square meter factory with the investment of USD 1.6 billion for delivering next-generation semiconductor packaging capabilities. Hana Micron and Intel are among other big foreign names in the market.

Vietnam expands semiconductor back-end manufacturing amid global shift

The European Commission predicts Germany&#39;s GDP to contract by 0.1% in 2024, revised down from 0.1% growth, as global demand for industrial goods weakens. Recovery is expected in 2025-2026, driven by rising real wages and domestic demand, but growth will remain below the eurozone average. Inflation is projected to fall to 2.4% in 2024 and further ease to 1.9% by 2026, aided by declining energy prices.

Germany’s Economy to Lag Behind Eurozone Growth Through 2026: EU Forecast

Nvidia has posted a USD 19 billion profit on record USD 35.1 billion revenue last quarter, surpassing expectations by USD 2 billion, driven by soaring demand for AI hardware. CEO Jensen Huang highlighted &quot;incredible demand&quot; for Nvidia&#39;s Blackwell and Hopper processors powering AI innovations across industries and nations. Despite the AI boom, concerns arose over narrowing margins and geopolitical uncertainties. Nvidia, a key AI infrastructure provider for tech giants like Microsoft and Google, remains critical in the global AI landscape.

Nvidia reports USD 19 billion profit amid record AI-driven revenue growth

As per the data released by the National Bureau of Statistics, China&#39;s industrial output growth eased to 5.3% year-on-year in October 2024, down from 5.4% in September, missing the 5.6% forecast. Retail sales, however, showed improvement, rising 4.8%, surpassing the 3.8% projection. Fixed asset investment grew 3.4% in the first 10 months of 2024, aligning with September&#39;s pace. The data highlights mixed signals in China&rsquo;s economy, fueling calls for additional stimulus to address lingering demand and confidence concerns.

China’s industrial output slows, retail sales rebound in October

As per media reports, China has announced a ban on exports of gallium, germanium, and antimony to the U.S., citing national security concerns. These minerals, vital for semiconductors, military equipment, and EV batteries, will face stricter controls. The move, effective immediately, intensifies trade tensions following the U.S.&rsquo;s latest restrictions on China&#39;s chip industry. Industry experts anticipate potential restrictions on additional critical minerals, raising concerns about supply chain disruptions in key sectors reliant on these materials.

China restricts exports of critical minerals to U.S.

Australia has proposed a new law empowering the country&#39;s competition regulator with the power to impose fines of up to A$ 50 million (USD 33 million) on global technology companies if they suppress competition and limiting consumer choices. The legislation empowers the competition regulator to investigate anti-competitive practices, targeting app stores and ad tech initially. Inspired by the EU&#39;s Digital Markets Act, it aims to prevent unfair tactics like prioritizing self-owned services. This new draft law is under consultation and its consultation period will be over by February 14, 2025.

Australia proposes USD 33M fines for big tech over anti-competitive practices

As reported by the Institute for Supply Management (ISM), U.S. manufacturing activity improved slightly in November, with the PMI rising to 48.4 from October&#39;s 46.5, its highest in five months but still below the 50 mark indicating contraction. Orders grew for the first time in eight months, and input prices declined significantly. However, sluggish demand and weak backlogs persisted. Only three industries, including electronics, reported growth, while major sectors like transportation and chemicals continued to struggle.

U.S. manufacturing PMI rises to 48.4 in November 2024 but sector remains in contraction

The United States has announced its third major crackdown on China&rsquo;s semiconductor industry, imposing export restrictions on 140 entities, including chip equipment maker Naura Technology Group, Chinese chip toolmakers Piotech, ACM Research, and SiCarrier Technology. The measures include restrictions on China-bound shipments of high-bandwidth memory chips, important for high-end applications like AI training; curbs on 24 additional chip making tools and three software tools; and new export limitations on chip making equipment manufactured in countries such as Singapore and Malaysia. Key Chinese firms, including Huawei affiliates, face tighter controls under the Entity List. The move aims to limit China&rsquo;s AI and military advancements while safeguarding U.S. national security.