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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Sheikh Mohammed marks 17 years as Ruler of Dubai

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Sheikh Mohammed 

Under his 17 years of rule, Sheikh Mohammed, who is also Vice President and Prime Minister, has turned Dubai into a global centre of tourism, finance and commerce.

A remarkable feat, considering that just a few decades earlier, Dubai was still a small town centred on the Creek.

Sheikh Mohammed had a front-row seat to his father's achievements and often accompanied him on key trips, such as to London in 1959 when Sheikh Rashid secured agreement to build Dubai's first airfield. At the time, Dubai was still a British protectorate and Sheikh Mohammed just a boy.


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