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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A Recommitment to Collaboration in UK-UAE Relations

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The continuous cooperation in renewable and clean energy was a key topic of discussion during their meeting. As the globe grapples with climate change, both the United Kingdom and the United Arab Emirates recognise the importance of switching to sustainable energy sources. The importance of their collaboration in pushing international efforts to mitigate climate change is highlighted by Dubai's role as the host city for COP28.

The Partnership for the Future, which was founded in 2021, serves as the framework for their multidimensional collaboration. This broad agreement covers a wide range of issues, including trade, climate action, innovation, and technology. Notably, the UAE's considerable investments in UK initiatives linked to energy transition, technology, infrastructure, and life sciences, totaling more than £10 billion, demonstrate the partnership's real outcomes. 

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