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,...

UAE woman wins Dh1 million in Mahzooz draw

 

UAE

A woman in the United Arab Emirates (UAE) won Dh1 million ($272,000) in Saturday's Mahzooz draw, becoming Mahzooz’s 45th millionaire.

On 27 May 2023, the Emirati woman took home the guaranteed $270,000 (Dh 1 million). She was one of 888 participants in the 130th Mahzooz draw on Saturday.

She is the first woman and the third Emirati to win Dh1 million in the draw. After winning the money, she said, “While money does not buy happiness, I believe it can bring comfort and security to the life of a person. This is what the prize is going to do for my family.”

After winning the prize, she said that she thought the win was an “orchestrated joke” among friends. She expressed happiness after winning the money.

Three UAE National winners have been crowned millionaires by Mahzooz, a lucky draw that takes place every week in the UAE. Mahzooz has given a total of $2 million (Dh 7.5 million) in prize money to over 8,000 Emirati winners in its 130 draws.

The woman identified as Sahar was first introduced to Mahzooz by her brother. For the last two years, she participated in the weekly draw almost every weekend. On Saturday evening, Sahar finally won the money.

After winning the money, she received multiple calls from her friends. When her friends congratulated her, she thought it was a joke. Later on, she checked her Mahzooz account to know if she really won the money.

According to The National, she said, “This is not the first time I have won with Mahzooz. In fact, the year started off on a good note for me, as I won the third prize in January having scored three out of five numbers. But this time, the prize is incomparable.” She said she would invest the money. 

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