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,...

UAE Acknowledges Support for Maritime Corridor Initiative and Applauds Cyprus's Humanitarian Efforts in Gaza

 

UAE

H.H. Sheikh Abdullah bin Zayed Al Nahyan, the UAE's Minister of Foreign Affairs, has praised Cyprus for its important contribution to providing much-needed humanitarian relief to Gaza Strip residents. This praise was given in the course of a meeting with Dr. Konstantinos Kompos, the Foreign Affairs Minister of Cyprus, during which they talked about the "Amalthea" international maritime corridor plan and the ongoing humanitarian catastrophe in Gaza.

In order to guarantee the efficient delivery of aid to Gaza, Sheikh Abdullah reaffirmed the UAE's commitment to backing the maritime corridor plan and working with Cyprus and other partners. He underlined how critical it is to keep up efforts to bring about a permanent peace and provide aid to the Palestinian people 

The meeting also highlighted the close friendship and strategic alliance between the United Arab Emirates and Cyprus, as Sheikh Abdullah reiterated the UAE's commitment to stepping up collaboration with Cyprus in a number of areas.

Recognizing Cyprus's humanitarian endeavors is a sign of the UAE's shared commitment to easing the suffering of the poor and fostering security and prosperity in the area. The UAE's commitment to humanitarian causes and its proactive approach to tackling global difficulties are demonstrated by its backing for the maritime corridor program. 

 

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