UAE Non-Oil Business Activity Surges to Nine-Month High in December

Image
 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,...

Strengthening Ties: Iraq, Egypt, and Jordan Plan Summit to Boost Economic Cooperation

 

Iraq

As economic challenges continue to cast their shadow over various nations, the leaders of Iraq, Egypt, and Jordan are poised to forge a stronger alliance through an upcoming summit. This meeting not only highlights the shared concerns faced by these countries but also underscores their determination to jointly address these challenges and capitalize on new opportunities.

The historical backdrop of cooperation between Iraq, Egypt, and Jordan adds depth to this forthcoming summit. With the aim of reviving and solidifying this alliance, the leaders intend to explore innovative mechanisms for collaboration across sectors. At the heart of their efforts lies a focus on leveraging their economic strengths to navigate turbulent times.

Prime Minister Bisher Al Khasawneh's announcement serves as a beacon of hope, signaling the commitment of these nations to foster meaningful dialogue and substantive outcomes. The undisclosed summit date suggests meticulous planning, reflecting the significance of the discussions to be held. The potential outcomes span a wide spectrum, from bolstering trade relations to exploring avenues for joint economic ventures.

In a world that is increasingly interconnected, strategic alliances are more vital than ever. This summit has the potential to not only strengthen economic ties but also pave the way for deeper cultural and diplomatic engagements. The leaders of Iraq, Egypt, and Jordan are setting an example of how nations can come together, transcending challenges, and harnessing collective strength to forge a brighter future.

Comments

Popular posts from this blog

Enhancing Relationships: Sheikh Khaled’s Trip to India Signals a New Phase of UAE-India Relations.

UAE's Enduring Legacy of Generosity: New Initiatives Highlight Global Humanitarian Efforts.

The UAE's AI Ambitions Get a Boost with Nvidia Chip Approval: A Game-Changer for the Gulf Region.