GCC markets update: QE, DFM and Tadawul

Image credit: Getty Images

The global economy experienced a slower growth rate in 2023 but the US economy and its markets was a bright spot in an otherwise increasingly grim economic scenario.

Similarly, the GCC countries displayed resilience and performed well across multiple economic indicators. The region saw exceptionally positive sentiment towards IPOs and multiple reforms that are expected to boost the markets further.

Among the GCC countries, 46 IPOs were launched with proceeds worth $10.79bn last year. The UAE retained its lead with the highest IPO proceeds worth $6.07bn, according to a report by Kamco Invest.

Despite a dip in oil production, government across the GCC plan to continue their investments across various sectors and boost their respective growth agenda, noted consultancy firm PwC. Hence, there are reasons to be optimistic about the potential economic performance of countries in the region in 2024, given their commitment to economic diversification and their ability to adapt to changing market conditions.

Starting today, Gulf Business will bring you a daily update on the markets across the UAE, Saudi Arabia and Qatar. Follow our live blog below to stay abreast of news and updates.

Markets update live blog: