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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EU-GCC Ministerial Meeting in Oman: Forging a Bright Future of Strategic Cooperation

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Strategic relationships between regions play a critical role in addressing global challenges and fostering diplomatic ties in the ever-changing environment of international relations. Recently, the European Union (EU) and the Gulf Cooperation Council (GCC) have laid the groundwork for a hopeful future of collaboration. As the EU's first special envoy to the Gulf area, Luigi Di Maio, has noted, relations between these two bodies are undergoing a constructive and strategic development.   

Mutual interests and similar difficulties fuel the engagement between the EU and the GCC. As the global landscape evolves, both sides see the need of a strong relationship that can effectively handle issues such as climate change, regional security, trade, and economic development.  

The world is watching with bated breath as the EU and the GCC prepare to meet in Oman, hoping that this conference would result in meaningful measures and efforts that will not only benefit the two blocs but also contribute to global peace and prosperity. The meeting of these two regional powerhouses is a strong indication that diplomacy and collaboration remain critical tools for addressing today's serious concerns.   


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