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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Enhancing Cooperation with UAE in the Interest of Philippines

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The Philippines and the UAE share a longstanding relationship built on shared values, culture, and economic interests. By enhancing cooperation in key areas such as trade and investment, education, renewable energy, and innovation, the two countries can unlock new opportunities for growth and development.

With its advanced infrastructure and expertise in areas such as renewable energy and innovation, the UAE is well-positioned to support the Philippines in its pursuit of sustainable development. In turn, the Philippines can offer the UAE access to a growing market and a gateway to the ASEAN region.

Through closer cooperation, the Philippines and the UAE can create a more prosperous and stable future for both countries and the wider region.

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