logo
Saudi GDP grows 3.4%

Saudi GDP grows 3.4%

Qatar Tribunea day ago

QNA
Riyadh
Saudi Gross Domestic Product (GDP) for the first quarter of 2025 achieved a 3.4 percent growth compared to the same quarter in 2024. In its report today, the Saudi General Authority for Statistics (GASTAT) stated that this growth was driven by a 4.9 percent increase in non-oil activities and a 3.2 percent rise in government activities.
Oil activities recorded a 0.5 percent decline. Meanwhile, on a seasonally adjusted basis, real GDP increased by 1.1 percent compared to the fourth quarter of 2024. The results showed that non-oil activities were the primary contributors to real GDP growth on an annual basis, adding 2.8 percentage points. Government activities and net product taxes also contributed positively, with 0.5 and 0.2 percentage points, respectively.
GASTAT noted that most economic activities achieved positive growth rates on an annual basis. Wholesale and retail trade, restaurants, and hotels recorded the highest growth rates during the first quarter of 2025, with annual growth of 8.4 percent and quarterly growth of 0.7 percent.

Hashtags

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

As Trump's tariffs loom, Southeast Asia's solar industry faces devastation
As Trump's tariffs loom, Southeast Asia's solar industry faces devastation

Al Jazeera

time4 hours ago

  • Al Jazeera

As Trump's tariffs loom, Southeast Asia's solar industry faces devastation

Bangkok, Thailand – A brief text message informed Chonlada Siangkong that she had lost her job at a solar cell factory in Rayong, eastern Thailand. The factory operated by Standard Energy Co, a subsidiary of Singaporean solar cell giant GSTAR, shut its doors last month in anticipation of United States President Donald Trump's tariffs on solar panel exports from Southeast Asia. From Monday, US Customs and Border Protection will begin imposing tariffs ranging from 375 percent to more than 3,500 percent on imports from Thailand, Cambodia, Vietnam and Malaysia. The punishing duties, introduced in response to alleged unfair trade practices by Chinese-owned factories in the region, have raised questions about the continuing viability of Southeast Asia's solar export trade, the source of about 80 percent of solar products sold in the US. Like thousands of other workers in Thailand and across the region, Chonlada, a 33-year-old mother of one, is suddenly facing a more precarious future amid the trade crackdown. 'We were all shocked. The next day, they told us not to come to work and would not pay for compensation,' Chonlada told Al Jazeera. US officials say Chinese producers have used Southeast Asian countries to skirt tariffs on China and 'dump' cheap solar panels in the US market, harming their businesses. US trade officials have named Jinko Solar, Trina Solar, Taihua New Energy Hounen, Sunshine Electrical Energy, Runergy and Boviet – all of which have major operations in Thailand, Malaysia, Cambodia or Vietnam – as the worst offenders. Thai solar exports to the US were worth more than $3.7bn in 2023, just behind Vietnam at $3.9bn, according to the latest US trade data. Standard Energy Co's $300m facility in Rayong had been in operation for less than a year, producing its first solar cell to great fanfare in August. 'I'm baffled by what's just happened,' Kanyawee, a production line manager at Standard Energy who asked to be referred to by his first name only, told Al Jazeera. 'New machines have just landed and we barely used them, they're very costly too – a few million baht for each machine. They've also ordered tonnes of raw materials waiting to be produced.' Ben McCarron, managing director of the risk consultancy Asia Research & Engagement, said Southeast Asian manufacturers are facing a serious hit from the US turn towards protectionism. 'There are suggestions that manufacturing might exit Southeast Asia entirely if tariffs are introduced either in a blanket way, or that specifically address Chinese-owned manufacturing capacity in the region,' McCarron told Al Jazeera. 'The implications are significant for these countries; Thailand, Vietnam, Cambodia, and Malaysia accounted for about 80 percent of the US's solar imports in 2024,' McCarron said, adding that 'some manufacturers have already begun shutting down and moving out of the region'. US officials and businesses have accused China of giving its solar firms an unfair market advantage with subsidies. China was the largest funder of clean energy in Southeast Asia between 2013 and 2023, pouring $2.7bn into projects in Indonesia, Malaysia, the Philippines, Thailand, and Vietnam, according to Zero Carbon Analytics. The American Alliance for Solar Manufacturing Trade Committee, a coalition of seven industry players, was among the loudest voices to lobby for a sharp rise in levies on Chinese imports. Without a reprieve from the notoriously unpredictable Trump, companies affected by the tariffs have little recourse apart from the ability to file an appeal once a year, or after five years, once a 'sunset review' clause takes effect. Some observers believe the sector may never recover. 'It's not just the low-skilled labour that was affected by the trade war; many workers in the solar cell supply chain are technicians, skilled labourers,' Tara Buakamsri, an adviser to environmental organisation Greenpeace, told Al Jazeera. 'Even if you make a lot of savings, solar cell exporters would still need to cut down on these skilled workers.' Others take a more bullish view, arguing that, once the dust has settled, Chinese solar firms will drive the supply of products needed to meet regional emissions targets. While Thailand, Cambodia, Malaysia and Vietnam welcomed Chinese solar companies in part due to the large sums of up-front investment on offer, they are all also seeking to meet more of their energy needs with cleaner sources. Before Trump entered office with his tariff agenda, Thailand had announced plans to become carbon neutral by 2050 and produce net-zero greenhouse gas emissions by 2065. 'A slowdown [or halt] in solar exports as a result of US tariffs may supercharge efforts in Southeast Asian markets by Chinese solar companies, which see the region as a critical and well-aligned destination for green technologies,' McCarron said. 'Leftover supply from slowing exports could be absorbed by domestic markets in Thailand, Malaysia, Cambodia, Vietnam, particularly if governments use the situation as a cost-effective opportunity to rapidly accelerate policy initiatives that stimulate domestic solar.' For Southeast Asia's solar companies, survival is also likely to depend on governments cutting red tape and loosening the control of oil and gas monopolies over the energy mix. At the same time, the US's exclusion of Southeast Asian solar imports could hamper the shift towards greener energy in the world's top economy. 'Thailand's solar cell production is heavily export-driven and the US has historically been a major export destination,' Pavida Pananond, a professor of international business at Thammasat Business School in Bangkok, told Al Jazeera. But solar tariffs will 'also hurt American consumers and the green transition in the US as prices become higher'.

Dortmund sign Jobe Bellingham
Dortmund sign Jobe Bellingham

Qatar Tribune

time4 hours ago

  • Qatar Tribune

Dortmund sign Jobe Bellingham

dpa Berlin Borussia Dortmund have completed the signing of Jobe Bellingham from Sunderland in time to have the player at the Club World Cup, the Bundesliga team said in a statement on Tuesday. The 19-year-old midfield signed a deal until 2030 with Dortmund, where his brother, Jude Bellingham, played in the past. 'I'm very happy to be a Borussia Dortmund player and to be fighting for titles with this great club. I want to play my part in celebrating success with the great fans here,' Bellingham said. He will travel with the squad on Friday to the United States for the Club World Cup on June 14-July 13. Tuesday was the deadline for Dortmund to complete the signing since it's when the additional transfer window for the tournament closes. Dortmund reportedly paid around ?30 million ($34.3 million) for the transfer. 'Jobe is an exceptionally talented player who, despite his young age, already possesses remarkable maturity and intelligence. We are convinced that he fits in perfectly with our philosophy,' managing director for sport Lars Ricken said. While Bellingham will be able to join the squad for the Club World Cup, Dortmund won't have defenders Emre Can and Salih Özcan. Captain Can is dealing with aducctor issues and will work on his recovery in Dortmund, while Özcan suffered an injury while training with the Turkey national team. Dortmund face Fluminense next Tuesday in their first match. Other group stage games are against Sundowns on June 21 and Ulsan Hyundai on June 25.

RJ Mohammad Ismaeel Khan: A journey of triumph and transformation
RJ Mohammad Ismaeel Khan: A journey of triumph and transformation

Qatar Tribune

time4 hours ago

  • Qatar Tribune

RJ Mohammad Ismaeel Khan: A journey of triumph and transformation

Muhammad Ismaeel Khan believes that nothing is impossible in this world if one has the courage to face the challenges. He believes that no matter how difficult things get, one should never give up his on one's dreams. Throughout his life, Khan has learned that hard work and determination can help one achieve anything in life. Khan, aged, 27, has seen many miracles happening with his own eyes at this young age. He was born and brought up in Kasur city, situated near Lahore. He belongs to a family of bureaucrats and politicians. His father is serving as an 18th-grade officer in government services of Pakistan. As a child, he loved keeping pets and birds. He was always an active kid and loved playing different sports. He attended DPS District Public School, Kasur for his early education and Punjab Group of Colleges for his intermediate level education. Later, he went to the University of Lahore (UOL), where he earned a degree in Media and Mass Communication. During his studies, he started working as an Area Sales Manager for Sarsabz Group of Companies, Pakistan's leading group dealing in agricultural pesticides. His performance was so impressive that within a year his company promoted him. He greatly helped his company to grow their brand in his area. He resigned from this company with only hope in his heart to move on and become more successful because this field was not his first choice. While he comes from a well-educated family, none of his relatives were involved in the media industry. This was one of the key reasons he chose to carve out his own path in a different field. With a strong passion for learning and public speaking, he found inspiration for his career path. After completing his graduation, he started working as a news monitor in Directorate General Public Relations, Lahore for some time. An intriguing truth about life is that a person does not always become what they envision. 'Since childhood, I have been deeply passionate about business. I can't say for certain why this drive is so strong within me, but perhaps Allah has blessed me with a creative mind—one that continues to fuel my ambition to this day. I have always envisioned myself as a businessman, never imagining a life working for someone else. Yet, in the grand scheme of things, only Allah knows the path that truly awaits,' Khan shared in an interview with Qatar Tribune. As Khan prepared to pursue higher education, he faced a difficult decision—whether to continue building his business ventures or dedicate himself fully to his studies. 'Encouraged by my mother's insistence, I made education my top priority. A key reason behind this decision was my ambition to pursue business on an international scale, where education would be invaluable. During my early schooling, I explored small-scale business ventures, but limited resources prevented me from expanding them further. After enrolling in university, my elder brother and I ventured into professional chicken farming together. While our lack of experience kept us from generating a profit, we were fortunate to avoid any losses as well,' remarked Khan. Just as Khan prepared to restart his business, the COVID-19 pandemic struck, reshaping the economic landscape. With businesses worldwide shutting down, he found himself unable to move forward with his plans. During that uncertain period, as he grappled with his next steps, his focus turned to the family's agricultural lands. Determined to take action, he ventured into farming—but with a well-defined vision for the future. Khan understood the necessity of moving beyond traditional methods and embracing modern agricultural practices—ones that could yield higher profits without requiring additional time or resources. With this approach, he embraced innovative agricultural farming and, by the grace of Almighty Allah, achieved remarkable success. The invaluable experience he gained became a cornerstone in shaping his future endeavours. 'I have always believed that agriculture will continue to thrive, as it is both a sustainable and profitable industry. Even during crises like the coronavirus pandemic, agriculture remained one of the few sectors that persisted, proving its resilience and essential role in society,' added Khan. While pursuing his studies, he also ventured into the agricultural fertilizers and chemicals industry, further expanding his knowledge and practical expertise in the field. Driven by an insatiable thirst for career growth, he joined Pakistan Television as a news editor, where he gained valuable experience working alongside senior professionals. He recently relocated to Qatar and joined the country's oldest Urdu channel as a radio jockey (RJ) and programme presenter. While he takes pride in how far he has come, he remains focused on achieving even greater milestones. In his free time, he enjoys expanding his knowledge across various subjects. He has a passion for birdwatching and loves traveling to new places, embracing the thrill of exploration. He loves reading revolutionary poetry, particularly the works of the great poet Dr Muhammad Iqbal. In his leisure time, he finds inspiration in Iqbal's verses, with his favorite lines being: 'Afraad Ke Haathon Mein Hai Aqwaam Ki Taqdeer; Har Fard Hai Millat Ke Muqaddar Ka Sitara' (The destiny of nations lies in the hands of individuals; every person is a star in the fate of their nation). Khan firmly believes in the existence of miracles—but he sees them as blessings granted to those with unwavering faith in Allah. To him, a true miracle is when a prayer for something seemingly impossible is answered, turning hope into reality. 'There was a time when I attended a massive public event, surrounded by nearly a hundred thousand people. Amidst the chaos, I lost something deeply personal and precious. Many would have abandoned hope, but I held onto unwavering faith that I would find it. And then, almost miraculously, within moments, it appeared right before my eyes. That day, I truly understood the power of belief—when you wholeheartedly desire something and trust in its return, the universe aligns to bring it to you. Throughout my life, I have encountered many such profound experiences, though some are too personal to share,' remarked Khan. 'I have come to realise that when your intentions are pure and your faith remains unwavering, success will find its way to you—even if it takes time. It took me ten years to truly understand this journey. Miracles are not instant; they unfold gradually, requiring patience, resilience, and steadfast belief.'

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store