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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UAE President Sheikh Mohamed hosts a fraternal consultative meeting with GCC leaders

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UAE President Sheikh Mohamed

The President of the United Arab Emirates (UAE), His Highness Sheikh Mohamed bin Zayed Al Nahyan, held a fraternal consultative meeting with leaders of the GCC (Gulf Cooperation Council) countries on Wednesday.

The UAE President welcomed Oman's Sultan Haitham; Abdullah II bin Al-Hussein, the king of Jordan; Hamad bin Isa Al Khalifa, the King of Bahrain; Sheikh Tamim, the Emir of Qatar, and Abdel Fattah El Sisi, the President of Egypt.

The meeting under the title "Prosperity and Stability in the Region" was held in Abu Dhabi, the capital of the UAE. The meeting aimed to boost partnerships between the UAE and other Arab countries. His Highness wanted to deepen cooperation between various GCC countries across various sectors that serve development, prosperity and stability in the Middle East region.

During the meeting, the leaders reviewed friendly ties between the Arab nations. They affirmed their common vision to improve stability and prosperity in the Middle East region and beyond. According to WAM, the leaders talked about various regional and international issues. They discussed various measures to strengthen joint Arab action in dealing with various issues. The discussion took place at the St Regis Saadiyat Island Resort.

The leaders affirmed that the partnership between various Arab countries can help to create a better future for the people of the Middle East region. Dr Anwar Gargash, the diplomatic adviser to the President, said the meeting was important for the region and the GCC countries. The GCC comprise Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the UAE.

After the meeting, His Highness wrote on Twitter, “I was pleased to host my brothers, leaders of the GCC, Jordan and Egypt, in their second home, the UAE. We are committed to strengthening and deepening our bonds of cooperation across all fields, to achieve further development, prosperity and stability for our region.”

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