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 United Arab Emirates Tops Global Technology Index 2021 as Most Technologically Ready Arab Nation

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UAE

The United Arab Emirates has been ranked as the most "technologically ready" Arab country and 22nd globally in the Global Technology Index 2021 by the International Telecommunication Union (ITU). The report evaluated countries on their ability to adopt and adapt to advanced technologies, with a focus on areas such as connectivity, investment, and human resources.

The UAE's impressive ranking is a testament to the country's ongoing efforts to promote and support technology innovation and adoption. The government has been investing heavily in advanced technologies such as artificial intelligence, blockchain, and the Internet of Things (IoT) to drive economic growth and improve public services.

Furthermore, the UAE's vibrant tech startup ecosystem, coupled with its supportive regulatory environment, has helped to foster a culture of innovation and entrepreneurship. The country has also established numerous research and development centers and innovation hubs, such as Dubai Internet City and Abu Dhabi Global Market, to attract and nurture talent and drive innovation in key sectors such as finance, healthcare, and transportation.

The UAE's top ranking in the Global Technology Index is expected to further boost investor confidence and attract more global tech giants and startups to set up operations in the country. It will also serve as a catalyst for the country to continue its efforts in driving innovation and leveraging technology to address key societal challenges such as sustainability and digital inclusion.

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