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 Vice President holds talks with Ukraine's President Zelenskyy in Jeddah

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UAE

Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and Minister of the Presidential Court of the United Arab Emirates (UAE), held talks with the President of Ukraine, Volodymyr Oleksandrovych Zelenskyy, in Jeddah, a Saudi Arabian port city on the Red Sea, on Friday.

During the meeting, Sheikh Mansour bin Zayed highlighted the UAE's unwavering support for a peaceful solution to the Russia-Ukraine war. He talked about the latest developments in the Ukraine-Russia conflict with the Ukrainian President.

On the sidelines of the Arab League summit in Jeddah on Friday, Sheikh Mansour bin Zayed and Volodymyr Zelenskyy talked about the bilateral ties between the UAE and Ukraine. According to the WAM news agency, the two leaders also agreed to further develop the bilateral ties between the two countries.

The UAE leader conveyed the greetings of His Highness Sheikh Mohamed bin Zayed Al Nahyan, the President of the United Arab Emirates and the Ruler of Abu Dhabi, to the Ukrainian President.

The Ukrainian leader wished for the continued progress of the UAE. He also thanked the UAE leadership for providing humanitarian support to Ukraine amid the conflict.

Since the Russia-Ukraine conflict began in February 2022, the UAE has delivered humanitarian aid to Ukraine. Earlier this year, the UAE sent a second batch of electricity generators for Ukraine amid the crisis.

In March 2023, the UAE and Ukraine discussed the latest progress of a comprehensive economic partnership agreement (CEPA) between the two nations. Dr Thani Al Zeyoudi, the Minister of State for Foreign Trade of the UAE, met Yulia Svyrydenko, Ukraine's First Deputy Prime Minister, in Dubai, to discuss ways to strengthen cooperation between the UAE and Ukraine. The two leaders said that CEPA would help to improve the bilateral economic relations between both nations.

Abdulla bin Touq Al Marri, the UAE Minister of Economy, also lauded the CEPA between the two countries.

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