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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The arrival of Sheikh Abdullah bin Zayed Al Nahyan at the G20 Foreign Ministers' Meeting in Delhi strengthened UAE-India relations.

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G20 Foreign Ministers

The UAE's Minister of Foreign Affairs and International Cooperation, Sheikh Abdullah bin Zayed Al Nahyan, arrived in force at the G20 Foreign Ministers' Meeting in Delhi. The visit reflects the UAE and India's growing ties in a variety of fields, including trade, investment, culture, and energy.

The UAE-India Comprehensive Economic Partnership Agreement (CEPA) has played an important role in strengthening the two countries' economic ties. The agreement has paved the way for increased investment opportunities and increased trade between the two countries. The UAE is one of India's largest trading partners, and the two countries are committed to strengthening their economic ties and exploring new avenues for cooperation. 

Cultural ties have also been strong between the UAE and India, with a large Indian community residing in the UAE. The two countries share a common cultural heritage, and cultural exchanges have been significant. Various cultural events held in the UAE have highlighted India's rich cultural heritage and diversity, and the UAE's modern and cosmopolitan culture has also been well received in India. 

The UAE and India share a vision of clean and green energy, renewable energy, and a future with no carbon emissions. Both countries' leaders have taken a variety of initiatives to promote sustainable development and combat climate change. The UAE has set an ambitious goal of generating 50% of its energy from renewable sources by 2050, and India has set a similar target.  

The G20 Foreign Ministers Meeting in Delhi has brought together leaders from some of the world's most powerful economies to discuss global issues. The agenda for the meeting includes discussions about COVID-19, climate change, trade, and regional security. The UAE, as a key player in the region, is expected to play an important role in the discussions. 

Finally, Sheikh Abdullah bin Zayed Al Nahyan, the UAE's Minister of Foreign Affairs and International Cooperation, visited India for the G20 Foreign Ministers' Meeting, highlighting the two countries' strong bilateral relations. Some of the key areas of cooperation between the two countries are the UAE-India Comprehensive Economic Partnership Agreement, cultural ties, and cooperation in the field of clean and green energy. 



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