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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GITEX's 42nd kicks off in Dubai

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Dubai

With 5,000 exhibitors spread across 26 halls and two million square feet of exhibition space, GITEX Global 2022 began October 10 at the Dubai World Trade Centre. This marks a noteworthy increase of 25% year over year.

 The 42nd edition of GITEX, which will cover seven different technology topics including the metaverse, a decentralised future of the internet, and a sustainable global digital economy, will bring together the most cutting-edge businesses and brightest minds to delve deeply into the creation of the Web3 economy.

 With government programmes like the National Programme for Coders, the Dubai Metaverse Strategy, and Next GenFDI pushing the UAE to the forefront of the global digital economy, the five-day event's record size and continued growth reflect the goals of the UAE and the region's digital transformation movement.

 GITEX brings together the involvement of 250 government organisations driving strategic digital projects and public-private partnerships, with the UAE's Digital Dubai Authority and AbuDhabi Digital Authority guiding smart city and digital project development.

 The GITEX 3.0 edition has seven tech-related themes, including two brand-new ones, Global DevSlam and X-Verse, as well as North Star Dubai start-ups, Ai Everything, Future Blockchain Summit in partnership with VARA, Fintech Surge, and Marketing Mania.

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