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,...

Shahbaz Sharif Thanks UAE President for Billions-of-Dollar Deposit

 

UAE President

Shahbaz Sharif recently called the president of the United Arab Emirates (UAE) to express his gratitude for a sizeable deposit of $1 billion. It was an impressive act of diplomatic civility and appreciation. The gesture not only emphasizes the value of solid international ties but also the opportunity for international cooperation and economic progress. 

The UAE's billion-dollar deposit will have a significant impact on the stability and expansion of Pakistan's economy. Many industries, including infrastructure development, healthcare, education, and job creation, may benefit greatly from the infusion of such a significant sum into the country's economy. It demonstrates the UAE's faith in Pakistan's potential and emphasizes how crucial international partnerships are to advancing the global economy.

Numerous growth opportunities could be unlocked by Pakistan and the UAE's bilateral partnership. In addition to its financial value, this deposit can operate as a lure for additional funding and collaborations. It fosters a favorable atmosphere that encourages international companies to investigate and participate in Pakistan's developing markets, resulting in sustained economic progress.

The importance of international ties and economic collaboration between nations is shown by Shahbaz Sharif's phone conversation to the president of the UAE in which he expressed gratitude for the $1 billion deposit. This action serves as a prime example of the value of establishing goodwill and trust, which serve as the foundation for future partnerships and mutual prosperity. In addition to supporting Pakistan's economic stability, the deposit demonstrates the UAE's belief in the potential of the nation. As Pakistan and the UAE advance together, their bilateral relationship has the potential to create a more promising future for both countries as well as for the rest of the region.


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