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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Iranian officials visit UAE to discuss cooperation

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UAE

Minister of State Khalifa Al Marar met Iranian Deputy Foreign Minister for Economic Diplomacy Mahdi Safari and other members of the delegation at the Ministry of Foreign Affairs and International Co-operation.

The two sides held a series of meetings on the potential for economic co-operation in various fields, particularly energy, trade, transport and tourism, Wam said.

The Iranian delegation included officials from sectors such as oil, gas, railways, maritime transport and tourism, Iran's semi-official Tasnim news agency said.

Saeed Al Hajeri, Assistant Foreign Minister for Economic Affairs, said trade relations between the UAE and Iran were an example of private sector partnerships built on co-operation, trust and mutual benefits.

The UAE reinstated its ambassador to Iran in August last year after a phone call between Sheikh Abdullah bin Zayed, Minister of Foreign Affairs and International Co-operation, and his Iranian counterpart Hossein Amirabdollahian.

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