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 Strategic Partnership is formed between the UAE and Azerbaijan to advance Azerbaijan's digital infrastructure.

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This  year  a Memorandum of Understanding (MoU) aimed at strengthening Azerbaijan's digital infrastructure was struck by the Ministry of Investment of the United Arab Emirates and the Ministry of Digital Development and Transport of the Republic of Azerbaijan in a historic gesture. The creation of data centers—essential elements of a country's digital backbone—is the agreement's primary goal.

In recent years, Azerbaijan has made great strides toward developing its digital economy, centralizing e-services, and digitizing public functions. The government's broader social and economic policy is in line with its commitment to digital transformation. Azerbaijan hopes to establish itself as a leader in digital capabilities in the area by significantly increasing the number of data centers through the partnership with the UAE.

The Memorandum of Understanding (MoU) places significant emphasis on cultivating connections between public and private sector organizations in both nations to guarantee a cooperative and effective strategy. The agreement also provides mechanisms for information exchange and incentives to encourage pertinent projects. 

With the start of this cooperative effort into the digital sphere by both nations, the stage is set for revolutionary progress.

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