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 President meets with Vietnamese Vice President to strengthen bilateral ties

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The United Arab Emirates has been making significant efforts to strengthen ties with countries in the Asia-Pacific region, and a recent meeting between the UAE President and the Vice President of Vietnam is a clear example of this commitment. The two leaders met in Abu Dhabi to discuss various areas of cooperation and to explore ways to deepen the bilateral relationship between the two countries.

During the meeting, the UAE President welcomed the Vice President of Vietnam, who is on an official visit to the Gulf nation. The discussions focused on several key areas, including trade and investment, technology and innovation, and climate change and sustainability. The two leaders also discussed the upcoming COP28 summit, which the UAE is hosting later this year, and explored ways to advance global cooperation on climate-related issues.

The visit of the Vice President of Vietnam to the UAE underscores the growing importance of the Gulf nation as a key player in the global arena. By building stronger ties with countries in the Asia-Pacific region, the UAE is positioning itself as a major economic and political hub, with the potential to create new opportunities for trade, investment, and collaboration.

Overall, the meeting between the UAE President and the Vice President of Vietnam highlights the UAE's commitment to promoting global cooperation and collaboration, while also advancing shared economic and political interests. As the UAE prepares to host COP28 later this year, its meetings with countries like Vietnam can help lay the groundwork for a more effective global response to the climate crisis, while also promoting regional stability and security.

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