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 UAE and Japan sign a defence cooperation agreement

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UAE

The United Arab Emirates (UAE), a country in the Middle East, and Japan, an island country in East Asia, have signed a defence cooperation agreement, boosting cooperation between the UAE and Japan in joint research, development and production of defence equipment and technology.

Major Gen. Mubarak Saeed Ghafan Al Jabri, the Assistant Undersecretary for Support and Defence Industries at the UAE’s Ministry of Defence, and Akio Isomata, the Ambassador of Japan to the United Arab Emirates, signed the agreement in the presence of various ministers of the UAE’s Ministry of Defence top-brass.

The defence cooperation agreement was signed at the Ministry’s headquarters in Abu Dhabi, the capital of the UAE. Major General Mubarak Saeed Ghafan Al Jabri and Akio Isomata agreed to strengthen bilateral ties between the two countries and cooperate in the military and defence industries.

Reportedly, the two countries agreed to facilitate the transfer of defence equipment and tech as well as boost cooperation in security and defence.

According to Japan, the accord will come into force after the completion of important procedures between the governments of the UAE and Japan. The Japanese ministry said in a statement that the agreement would improve production and technological bases for Japan’s defence industry, contributing to the security of Japan.

In February this year, the UAE's defence group EDGE signed an MoU (Memorandum of Understanding) with India's aerospace company Hindustan Aeronautics (HAL) to cooperate in the defence field between the UAE and India. The two countries agreed to cooperate in the field of missile systems and unmanned aerial vehicles (drones). The companies from the UAE and India also agreed to cooperate on mission computers, defence training programmes, and the manufacturing of metallic parts. The signing ceremony took place in Abu Dhabi, UAE, in February at the IDEX-2023 exhibition. 

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