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 and Japan strengthen diplomatic ties through inaugural subcommittee meeting in Abu Dhabi

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UAE

Senior officials from the UAE and Japan held the first session of the Political, Diplomatic and International Cooperation Subcommittee between the MoFAIC and the Ministry of Foreign Affairs of Japan in Abu Dhabi on Wednesday.

The objective of the meeting was to explore opportunities for strengthening ties between the two countries, with a focus on collaboration in various areas. During the meeting, officials from both sides discussed issues of mutual interest and identified potential areas of cooperation, including trade, investment, energy, and culture.

The UAE and Japan also reaffirmed their shared commitment to addressing climate-related challenges, as they prepare for COP28, set to be held in the UAE in November 2023. The subcommittee meeting was an opportunity for both sides to exchange views and ideas on how to tackle these challenges and work towards a more sustainable future.

The inaugural subcommittee meeting was a positive step towards enhancing bilateral relations between the UAE and Japan, and both sides expressed their willingness to continue working closely together in the future. The meeting sends a message to the world that diplomacy and international cooperation are vital in today's world, and that together, the UAE and Japan can achieve great things.

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