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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Private companies hired more local talent by 11% in the first quarter of 2023

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Private companie

The Ministry of Human Resources and Emiratisation (MoHRE) of the United Arab Emirates (UAE) announces excellent results in the hiring of Emirati talent on the regional labor market.

The number of Emiratis employed in the private sector climbed by more than 11% in the first quarter of 2023 compared to the same period in 2022, according to the authority. The number of businesses hiring residents climbed by almost 13%, the government announced on Wednesday.

The Nafis program was established by the UAE government as a measure to increase the national cadres' ability to compete for positions in private sector businesses. One of Nafis' top priorities is to equip Emiratis with the knowledge and abilities they need to find employment and forge academic and professional routes that will offer them with potential future prospects.

In the first three months of 2023, MoHRE organized more than 80 recruiting open days around the UAE to entice Emiratis to take advantage of the lucrative career prospects provided by the private sector.

In order to get assistance from the Nafis program, private sector businesses must enroll their Emirati employees in the UAE's pension and social security programs. Fines and penalties "based on relevant decisions, law and legislations" would be incurred if the Emirati personnel were not registered in the systems.

Employers are subject to fines, according to the General Pension and Social Security Authority (GPSSA), for each Emirati employee who is not registered with the GPSSA. They also "bear the responsibility of contributing on his/her behalf retroactively and paying the due contributions as per the employee's start date."

A punishment of Dh5,000 is imposed on each insured individual who is charged a percentage that is more than the required contribution percentage or who fails to pay any expenditures at all. A court order is immediately implemented to compel organizations to reimburse overpayments to their insured personnel.

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