Middle East & Central Asia News
LAST UPDATE: July 3, 2025
Saudi Arabia’s non-oil sector growth quickens in June on strong demand, PMI shows
The Riyad Bank PMI rose to 57.2 in June—its highest in three months—driven by robust domestic demand, new project starts, and rapid hiring; this prompted firms to raise prices amid rising input costs.
Insight
The sustained boost in non-oil activity reflects success in Vision 2030 diversification efforts. However, rising costs and input-price inflation may pressure margins. Continued firms’ optimism boosts resilience beyond the oil sector.
Pakistan pitches Nobel, crypto and rare earths to woo Donald Trump
Pakistan launched a diplomatic charm offensive—offering to nominate Donald Trump for a Nobel Peace Prize, promoting itself as a hub for Bitcoin mining, and highlighting untapped rare earth resources—as it seeks to avoid up to 29% US tariffs scheduled for July 9. Talks are underway in Washington to purchase US cotton and soybeans and explore mining partnerships.
Insight
Islamabad is aiming to reposition its global image by aligning with Trump-era interests in crypto and strategic minerals. By combining symbolic gestures (Nobel nomination) with economic proposals, Pakistan hopes to secure favorable trade treatment and investment inflows.
