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, Russia advance cooperation in trade

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On Monday, the United Arab Emirates and Russia extended their cooperation for trade as the UAE delegation visited Moscow where the two sides discussed prospects of further expanding cooperation in various sectors.

 Sheikh Abdullah bin Zayed Al Nahyan, Minister of Forign Affairs and International Cooperation met Denis Valentinovch Manturov, Russian Minister of Trade and Industry and discussed how to take talks further in science, artificial intelligence, healthcare, food security, technology and aviation.

 The two officials met for a business dinner in Moscow as they focused on the determination of investment opportunities between the two countries in all fronts and gave special stress on trade and economy.

 The fight against coronavirus and the efforts taken to counter the virus attack was also one of the major areas discussed by the two delegations. They further discussed how to support and help international endeavours to ensure that the Covid vaccines are delivered throughout the world and that too with all safety being intact.

 "My friend, Sergey Lavrov, I am grateful for my meeting with you and the kind words about my country. In the UAE, we are proud to have comprehensive strategic relations with the Russian Federation. During the COVID-19 pandemic, we realised that our relations with Russia will witness significant development in the coming years," Sheikh Abdullah said.

 Sheikh Abdullah also stressed on the friendly relations with Russia and discussed the strategic partnership between the two nations, which was in turn hailed by the Russian minister also.

 The Russian side showed great enthusiasm for Expo 2020 Dubai saying that the country is extremely excited to participate in the event while wishing success for the global event scheduled to be held next year.

 The meeting was also attended by Dr Mohamed Ahmed bin Sultan Al Jaber, who is the ambassador of the UAE extraordinary and plenipotentiary to the Russian Federation.

 The state news agency WAM reported  Sheikh Abdullah saying, “Next year, we shall host the Expo 2020 Dubai, which was postponed from 2020 to 2021, and I am confident that the presence of Russia will be an outstanding one. We are looking forward to the Expo, as the first key global gathering after recovering from COVID-19.”

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