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 expats will benefit from the "Work Bundle" initiative, which would streamline work permits and residency renewals.

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The UAE government has launched the "Work Bundle" concept, which aims to simplify employee residence and work permits in private sector enterprises. This project, introduced by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, is expected to have a substantial impact on the country's workforce, especially on UAE expats.

The "Work Bundle" effort is part of the government's "Zero Bureaucracy" campaign, which aims to streamline procedures and increase efficiency in the federal administration. The program is expected to save the government and the commercial sector significant money by reclaiming 62 million working days formerly spent on residence and employment contract renewals, as well as cutting 25 million processes yearly. 

One of the most important parts of the "Work Bundle" program is the creation of a single platform for completing employment services such as renewal, cancellation, medical examination, and fingerprinting. This platform simplifies and expedites procedures for private sector businesses, providing a more effective approach to manage their personnel.

The program is the product of close collaboration between federal and local government institutions, including the Ministry of Human Resources and Emiratisation, the Federal Authority for Identity and Citizenship, and the General Directorate of Residency and Foreigners Affairs in Dubai. It is also supported by Digital Dubai, which provides digital infrastructure and services to enable smooth data interchange between relevant entities. 

The "Work Bundle" project is consistent with the UAE's digital transformation efforts, which aim to improve the country's competitiveness in global business benchmarks. The project is expected to make it easier for private sector companies to do business in the UAE by implementing a more streamlined and effective business management approach.

Overall, the "Work Bundle" project is an important step toward simplifying procedures and lowering effort and time for both firms and employees in the UAE. It is projected to have a favorable impact on the country's economy, as well as its ability to attract and retain global talent.

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