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 UAE's Leadership in AI and Global Presence

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By 2031, the United Arab Emirates (UAE) hopes to have established itself as a global leader in artificial intelligence (AI). Investing in individuals and industries that are essential to their development is the main focus of their National Strategy for AI.

Microsoft and G42, a UAE-based business, have teamed to quicken the country's digital transition. They are collaborating to provide sovereign cloud services that adhere to regional privacy regulations. They are also building more data centers in the United Arab Emirates, co-innovating, and providing sophisticated AI capabilities.   

Their collaboration is centered on offering AI-enabled solutions for national initiatives and industries like energy, sustainability, health, and energy. Through Khazna Data Centers, Microsoft is growing its Azure service in the United Arab Emirates.

Furthermore, G42 launched the $10 billion 42X Fund last year to finance startups in the cloud computing and autonomous vehicle industries. With the help of businesses like G42 and Microsoft, the UAE hopes to become a global leader in AI, and this alliance demonstrates that dedication.  


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