UAE Non-Oil Business Activity Surges to Nine-Month High in December

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 The United Arab Emirates' non-oil private sector recorded its fastest expansion in nine months in December 2024, buoyed by strong domestic demand and increased business activity, according to the latest S&P Global Purchasing Managers’ Index (PMI) report. PMI Highlights Robust Growth The seasonally adjusted UAE PMI climbed to 55.4 in December from 54.2 in November, signaling robust growth well above the 50.0 threshold that separates expansion from contraction. This marked the third consecutive monthly increase, underscoring sustained recovery in the non-oil sector. Key drivers of growth included a notable rise in new business activity. The new orders subindex rose sharply to 59.3 in December from 58.0 in the previous month, reflecting strong domestic demand. Challenges Amid the Growth While domestic demand flourished, export growth slowed, with the export orders subindex dropping to a seven-month low. Additionally, businesses faced mounting backlogs due to capacity constraints,...

VISA-free travel approved as Emirates make their first official visit to Israel

 On Tuesday, the delegates from the United Arab Emirates headed to Israel for the first time since normalization of ties between the two countries.

It was only last month that the ties between the two countries came to normalisation under a deal called accord agreement, which was mediated by the United States. Soon after the UAE agreed to normalise the ties, Bahrain also followed and the two nations together celebrated normalisation of diplomatic relations with Israel. 

All the Emirati officials flew in Etihad airways and US officials accompanied during this journey. It was later on confirmed by the Israeli officials that the five hour visit will be restricted to the airport due to concerns of coronavirus in the country.

As per various reports in the foreign media, the UAE delegation was headed by  the minister of state for financial affairs, Obaid Al Tayer, and Economy Minister Abdulla bin Touq Al Mari. This move came after the Israeli parliament gave clearance to the deal signed by UAE and Israel.

The deal was signed on September 15 last month in the White House, following which, operations between the two countries began and borders opened for each other. As per reports in  the Israeli media, the two governments are yet to announce an agreement on authorising 28 commercial flights a week between the countries. This is in addition to unlimited charter flights to a smaller airport in southern Israel and 10 weekly cargo flights,

With this the UAE and Israel have officially agreed on a VISA-free travel. It was confirmed in an announcement made by the Israeli Prime Minister Benjamin Netanyahu announced on Tuesday.

"We are making history today..This is the first official visit from the UAE. Today, we signed four agreements that will change matters in terms of economy, science, technology and aviation," said the PM.

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