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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Joining forces for peace in Gaza is strengthening the ties between the UAE and Qatar.

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A turning point in Gulf cooperation has been reached with the recent meeting between Sheikh Tamim bin Hamad Al Thani and Sheikh Mohamed bin Zayed Al Nahyan. 

The presidents stressed their shared interests and the prosperity of their peoples as they talked about potential areas of cooperation, in addition to the urgent situation in Gaza. Sheikh Saud bin Abdulrahman Al Thani's recognition, which comes with the Order of the Union, demonstrates the commitment to fostering closer ties amongst brothers. The examination of joint Gulf action represents a shared commitment to development and advancement in addition to being in line with the goals of the GCC nations.  

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