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,...

India, UAE efforts to fight against terrorism and extremism

 The United Arab Emirates (UAE) and India launched efforts in recent months to fight against terrorism and extremism. In February, both countries reaffirmed their joint commitment to the fight against extremism and terrorism. Both countries pledged to unite to fight the challenges of terrorism for security and sustainable development at both regional and international levels.

CEPA

In February, India and the UAE also signed the Comprehensive Economic Partnership Agreement (CEPA) to boost bilateral relations. The CEPA will lead to an increase in bilateral trade from the current $60 billion to $100 billion over the next five years.

Subsequently, Indian Prime Minister Narendra Modi and UAE’s Crown Prince Sheikh Mohammed bin Zayed Al Nahyan held a virtual summit. The two leaders agreed to resolve regional conflicts.

India, UAE
India, UAE efforts to fight against terrorism

Reportedly, in February, Narendra Modi and Sheikh Mohammed bin Zayed Al Nahyan agreed to deepen their bilateral cooperation in the fight against terrorism, terrorist financing, and extremism. Both leaders issued a joint statement and stressed the need for all forms of terrorism, extremism, violence, hatred, discrimination and incitement to be renounced.

PM Modi also thanked the UAE for showing interest in investing in Jammu and Kashmir. The two leaders also condemned the dangers and threats posed by violent non-state extremists.

Recently, India and the UAE decided to enhance maritime security cooperation to maintain peace and security in the region and fight cross border terror.

In February, Lok Sabha Speaker Om Birla condemned the recent terrorist attack in the UAE. He said, “The shared concern of UAE and India on terrorism is reshaping our cooperation.” He also said that India has always opposed terror. Narendra Modi also condemned recent terrorist attacks and offered condolences to the victims.

Recently, the UAE and India abstained from voting in the United Nations Security Council (UNSC) resolutions critical of Russia over the invasion of Ukraine. 

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