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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Dubai Ranks 1st in MENA and 14th in the World in the Innovative Cities Index 2023

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Dubai
 

Dubai, the cosmopolitan city of the United Arab Emirates, has once again made headlines as it has been ranked 1st in the Middle East and North African (MENA) cities and 14th worldwide in the Innovative Cities Index for the year 2023. The results were announced by the Australian To Think Now Foundation, which specializes in research and studies related to innovation.

The Innovative Cities Index is an annual report that evaluates and ranks the innovative capacity and performance of cities around the world. It is based on a range of indicators that assess a city's ability to innovate across various sectors, such as technology, economy, governance, and human capital.

Dubai's ranking in the Innovative Cities Index is a testament to its continuous efforts in pushing the boundaries of innovation and development. The city's commitment to innovation is evident in its numerous ambitious projects, such as the world's tallest building, the Burj Khalifa, and the Palm Jumeirah, the world's largest man-made island.

Dubai's government has also implemented various initiatives to support and encourage innovation in the city. For example, the Dubai Future Foundation was established to drive innovation and create a platform for collaboration between government and private sectors, while the Dubai Innovation Index was launched to measure the city's innovation performance and guide its future innovation strategy.

The city's success in innovation has also attracted the attention of international companies, entrepreneurs, and investors. Dubai has become a hub for startups, and the government has launched various programs to support and promote entrepreneurship, such as the Dubai Startup Hub and the Dubai Future Accelerators.

Dubai's ranking in the Innovative Cities Index for the year 2023 is a reflection of its vision to become a leading global city that embraces innovation, technology, and sustainability. With its ambitious plans, world-class infrastructure, and supportive environment, Dubai is well on its way to achieving this goal.

In conclusion, Dubai's top ranking in the Innovative Cities Index for the year 2023 is a well-deserved recognition of the city's continuous efforts in pushing the boundaries of innovation and development. With its dynamic economy, supportive environment, and ambitious plans, Dubai is poised to become a leading global city in the years to come.

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