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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Malaysia and UAE agree to increase cooperation: Malaysian PM

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UAE

Malaysia and the United Arab Emirates (UAE) have resolved to expand their mutual cooperation in a variety of areas, including trade, investment, defence, and energy, according to MalaysianPrime Minister Datuk Seri Anwar Ibrahim.

The UAE President Sheikh Mohamed Bin Zayed Al Nahyan and the Malaysian prime minister spoke by phone yesterday, according to a post the prime minister made on his official Facebook page today.

I used the occasion to appreciate Sheikh Mohammed for the UAE's cooperation in assisting Malaysia to provide recent humanitarian aid to earthquake victims in Syria, he added in his post.

42 tonnes of humanitarian aid from the Malaysian government were delivered to Syria with the assistance of the UAE government and the nation's Red Crescent Society.

Anwar, meantime, expressed his gratitude for hosting Sheikh Mohamad during his visit to Malaysia this year and expressed the hope that he would soon pay a visit to the UAE in return.

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