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 assures that investments in Israel are not politically driven

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From the moment Israel and the UAE announced that they will be normalising relations with each other, people were quick to jump to conclusion and blame UAE that they are doing it for their personal benefits. One such instance was when UAE planned to invest in Israel’s projects.

People started pointing out that it was in fact, a politically motivated move. But clarifying all those allegations, Dr Sultan Al Jaber, the Minister of Industry and Advanced Technology, announced that the investments prospects worth $10 billion in Israel are commercially driven and have no political motives behind them.

He stressed that the announcement of the investment program is in line with all the other UAE initiatives that are aimed at looking for opportunities all around the world. On Tuesday, the minister refuted all the claims of the investment program being politically motivated. “We are at a very early stage in studying the laws and policies in Israel,”he said.

He added that the UAE is also establishing certain rules which will ensure bilateral agreements and noted that they need to be in place to support and protect our investments. “The UAE has a long history and rich track record in making the right investments in the right locations, based on the commercial assessment of that market,” he noted.

The allegations started after the UAE announced last week that it will study the climate of Israel and are looking for opportunities to invest $10 billion which will be diverted into different sectors like energy, manufacturing, water, space, health care and agriculturally influenced technology.

He also highlighted that it is very soon to judge what is going around while also indicating that there is no hurry as there are a number of matters that need to be taken care of ahead of the final call on investment.

Sr Al Jaber said that UAE is looking at interesting and attracting investment opportunities all around the world and is waiting for the right locations. He stressed that there are numerous opportunities in different markets and the UAE is continuing to evaluate them on the basis of ‘strategic merits’ as well as their commercial value. 

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