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 Has Unexpectedly Tapped the Market Multiple Times with Great Result

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Here’s something good that I want to share with what I read today. It’s about how Abu Dhabi plans to sell US dollar securities on in its first attack in the global obligation advertises this year, raising money for state coffers in spite of a new bounce back in oil costs. This oil-rich emirate gave beginning direction of 70-75 premise focuses over US Treasuries for seven-year US dollar-designated securities expected to cost later in the day.

Looking back, The UAE was hit hard by the COVID-19 pandemic and a year ago's accident in oil costs, however a bounce back in worldwide unrefined interest as economies re-open has diminished the earnestness to get for spending purposes. But as we can see, Abu Dhabi has become a generally regular backer of US dollar-designated obligation lately, and tapped the market multiple times a year ago for a sum of $15 billion. Just imagine that. Even so, it had extraordinary bonds and exceptional credits which made it more interesting to anticipate for the next years to come.

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