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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UAE Assumes Leadership in Global Cybersecurity Collaborations

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UAE

In a world where cyber threats are growing more complex and ubiquitous, international cooperation is essential to combating this developing threat. The UAE recognises this and has launched on a journey to strengthen its cybersecurity posture through a series of Memorandums of Understanding (MoUs) with several countries.

One such notable collaboration is with the United States Treasury Department. This Memorandum of Understanding focuses on the exchange of crucial information regarding threats and occurrences that may affect the financial services industry. Given the UAE's strong AA- rating and "stable outlook" for its banking sector, this deal takes on considerable significance. 

Furthermore, the UAE has formed an alliance with Chad, emphasizing international collaboration in cybersecurity issues. 

This outreach to African countries is essential, as cybersecurity centers are springing up all over the continent. Morocco, for example, only formed its cybersecurity center last year, prompted by guidelines developed over the previous decade. 

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