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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UAE announces Eid Al Fitr 2023 holidays for the private sector employees

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UAE

The Ministry of Human Resources and Emiratisation (MoHRE) of the United Arab Emirates (UAE) has announced the official holiday for Eid Al Fitr 2023 for private sector employees. 

The holiday will start on Ramadan 29 and end on Shawwal 3 (Islamic calendar months). Residents could get off for the Islamic Eid festival depending on when the Moon is sighted in the country. Shawwal is the tenth month of the Hijri calendar. 

The Federal Authority for Government Human Resources (FAHR) of the UAE also announced the same holiday for public sector employees. 

People working in government departments and private companies will get the same set of holidays. Residents can either get a four-day break or a five-day weekend, depending on when the Moon is sighted. 

Islamic months in the Hijri calendar last for 29 or 30 days. Ramadan 29 will start on April 20. The UAE’s moon-sighting committee will confirm the dates of Eid on April 20. If the crescent moon is seen at night, April 21 will be the first day of Eid. Residents will enjoy a four-day break. If the Moon is not spotted on that night, April 22 will be the Eid Al Fitr, which means residents will enjoy a five-day weekend. 

According to astronomical calculations, the first day of Eid Al Fitr is expected to fall on April 21 in most countries, including the UAE. Therefore, the Eid Al Fitr break will start from April 20 to April 23.  Earlier this week, UAE announced early salaries for public sector employees. His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Vice-President and Prime Minister of the UAE and Ruler of Dubai, directed authorities to give early salaries to government employees. They will receive salaries starting April 17 to mark the Eid ul-Fitr celebrations. Eid holidays would be paid holidays for all employees in the UAE

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