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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In order to boost worldwide business collaboration, the I2U2 Partnership has established an innovative website.

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UAE

On the eve of the United Nations General Assembly, four countries – Israel, the United States, India, and the United Arab Emirates – revealed a new website for their collaborative endeavour, the I2U2 collaboration. This cutting-edge platform is intended to ease and enhance collaboration among private enterprises from diverse sectors and areas. The programme, which was launched just a year ago, aims to improve cooperation among participating countries in critical areas such as food security, water resources, energy, transportation, space exploration, healthcare, and technology.   

One of the key goals of this collaboration is to mobilise the private sector's expertise and resources in order to progress sustainable and meaningful projects all over the world. This project benefits not only the countries involved, but it also aligns with global goals such as climate change, economic development, and technological innovation.   

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