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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The Geopolitical Ambitions of Saudi Arabia Take Centre Stage

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Saudi Arabia

The meeting with Prime Minister Anwar Ibrahim was especially noteworthy because it highlighted Saudi Arabia's strong desire to expand its influence in Southeast Asia. The reception ceremony at Al Yamamah Palace was a magnificent show of friendship. As both leaders discussed bilateral cooperation and regional developments, it was clear that Saudi Arabia wants to enhance ties with Malaysia, possibly for economic reasons and regional stability.

Saudi Arabia's meeting with Singapore Prime Minister Lee Hsien Loong demonstrates the kingdom's desire to strengthen ties not only with Southeast Asia, but also to establish itself as an Asia-Pacific regional force. The joint statement issued following their meeting emphasises the extensive nature of their collaboration, which spans numerous areas of interest, such as

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