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,...
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UAE, Britain stay committed towards their partnership in coming years

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 The United Arab Emirates and the United Kingdom have shown their commitment towards maintaining the foreign policy by continuing their partnership and strategic dialogue on Thursday.

After a meeting between his Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces and Prime Minister of the UK, Boris Johnson, a joint statement was released confirming that the leaders are committed towards cooperation of trade and investment and also on fields like development and climate change.

Both the countries have also agreed on strengthening the economies which includes cooperation across priority areas such as the field of science, healthcare sector, technological advancements,  digital innovation, renewable energy, space, infrastructure, education, tourism, food security, and financial and professional services, confirmed by the news agency WAM.

The meeting also included the importance of Abraham Accords which were signed by the UAE and the State of Israel. The talk brought the importance of finding peaceful solutions to the ongoing conflicts in the region.

While discussing the common values, the two parties discussed priority towards peaceful conduct, tolerance for other countries, equal respect for all the cultures as they agreed to keep their efforts going.

A statement giving details was shortly released which read, "The leaders discussed the strength of the UK-UAE bilateral relationship, the long-standing friendship and shared history between our two countries and peoples. Both leaders emphasised their ongoing commitment to developing a UK-UAE partnership for the future and an enhanced Strategic Dialogue between the two countries. The two leaders highlighted the importance of cooperation in the fight against the COVID-19 pandemic.”

Other than that the statement also said that the two leaders have shown their full commitment in strengthening their approach towards the international community while maintaining multilateral institutions.

Both the leaders showed optimism for the upcoming event in the UAE for its 50th National Day celebrations, Expo 2020 Dubai. They also promised to meet and further develop their relationship in the coming year. 

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