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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Sheikh Khaled bin Mohammed is looking into bilateral relations with Albanian Prime Minister Edi Rama.

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UAE

The discussions focused on expanding economic cooperation between the two countries, with a particular emphasis on priority areas such as energy, infrastructure, and tourism. Both leaders indicated a desire to strengthen cooperation through a comprehensive economic relationship.

Sheikh Khaled acknowledged the UAE-Albanian relationship's strong trajectory since the signing of the Economic Cooperation Agreement in 2020. This deal created the groundwork for stronger economic and trade connections, which will benefit both countries.  

The meetings between Sheikh Khaled bin Mohamed and Prime Minister Edi Rama demonstrate the UAE's commitment to expanding global alliances and boosting cooperation in important areas. These talks aim to pave the path for mutually beneficial projects that will benefit both countries and the area as a whole. 

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