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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A Strategic Way to Combat Money Laundering

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Here’s something I want to share today. It’s about how the federal government in February set up the Executive Office of Anti-Money Laundering and Counter Terrorism Financing.The new Dubai court means to raise the UAE and Dubai's worldwide seriousness by maintaining the equity and straightforwardness. It’s amazing how the new court will uphold Dubai's endeavors to handle monetary violations, including illegal tax avoidance, as a feature of the UAE's more extensive undertaking to battle wrongdoing.

 For me, announcing illegal tax avoidance wrongdoings is both an individual and aggregate liability, Al-Mansouri said. "Society assumes a basic part in shielding monetary and government managed retirement and fortifying the endeavors of different partners in reacting to such crimes.This addresses another progression in the advancement of the administrative system and supports consistence with worldwide enemy of tax evasion and law-requirement norms.

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