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,...

Dubai Future Readiness Index at the World Government Summit (WGS) 2023.

 

World Government Summit

Dubai has continued its journey of excellence towards a future that prioritises well-being and safeguarding livelihoods by launching the Dubai Future Readiness Index at the World Government Summit (WGS) 2023. H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, and Chairman of the Board of Trustees of Dubai Future Foundation (DFF), launched the index, which aims to evaluate government entities on their readiness to address new opportunities and challenges, future-ready ecosystems, and their ability to adopt new technologies. The index, the first-of-its-kind, is focused on improving the readiness of Dubai government entities to tackle global and local challenges, promote innovation, and empower employees to design future strategies.

The launch of the Dubai Future Readiness Index was attended by H.H. Sheikh Ahmed bin Saeed Al Maktoum, President of Dubai Civil Aviation Authority and Chairman and Chief Executive of Emirates Airline and Group; H.H. Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of the Dubai Culture and Arts Authority; and a number of senior officials and directors of Dubai government departments.

Speaking at the launch, Sheikh Hamdan bin Mohammed said, “We have launched the Dubai Future Readiness Index to continue the government’s journey of excellence started 25 years ago by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai. The index is designed to ensure that future readiness is a key indicator in evaluating the performance of Dubai government entities.”

“To realise our leadership’s vision, government entities must always be prepared for local and global challenges, changes, and opportunities. We encourage our government entities to prioritise empowering their employees with future-shaping skills and promote innovation. We aim to position the Dubai Future Readiness Index as a leading global model that can support other governments worldwide in developing their strategies,” he added.

The Dubai Future Readiness Index includes 66 sub-indicators across five key areas, such as technology readiness, strategic readiness, and innovation readiness. The index will identify opportunities and priorities, highlight areas for improvement, and develop knowledge-exchange programmes, fostering the exchange of best practices among government entities. The Dubai government ecosystem has consolidated Dubai’s position as a leader in future readiness and as a provider of exceptional government services regionally and globally.

In conclusion, the Dubai Future Readiness Index is a significant step towards improving the readiness of Dubai government entities to tackle global and local challenges, promote innovation, and empower employees to design future strategies. The launch of the index at the World Government Summit 2023, attended by 20 heads of state, 300 international speakers, and over 80 global organisations, highlights Dubai's commitment to the future and its vision to position itself as a leading city of the future.

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