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 leaders wish for 'peace, prosperity and happiness' in the Emirates

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Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, wished happiness, health, and peace to all.

"Eid Mubarak to the people of the UAE and the rest of the Muslim world. May the days ahead bring us blessings, peace, and prosperity," he wrote in a tweet.

Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, prayed for "peace, prosperity, and happiness".

"Eid Mubarak to the UAE President and Vice President, the Rulers of the Emirates, and the UAE people," he wrote on Twitter.

"We pray that this blessed time brings peace, prosperity, and happiness to the people of our nation, the region, and the world

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