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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Understanding Ramadan: A Guide to the Islamic Holy Month and Eid Al-Fitr 2024

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Each year, millions of Muslims around the world observe the holy month of Ramadan, a period of fasting, prayer, reflection, and community. This year, Ramadan began on the night of Sunday, March 10, and will continue until the predicted end on April 9. During this time, Muslims fast from sunrise to sunset, refraining from food, drink, smoking, and other physical needs.

Ramadan is considered a time for spiritual growth, self-discipline, and compassion for those less fortunate. It is also a time for increased prayer and reading of the Quran, as Muslims believe that it was during this month that the Quran was first revealed to the Prophet Muhammad.

At the end of Ramadan, Muslims celebrate Eid Al-Fitr, a joyous occasion that marks the end of the fasting period. This year, Eid Al-Fitr is expected to begin on April 10, depending on the sighting of the crescent moon.

Eid Al-Fitr is a time for celebration and thanksgiving, as well as a time for giving to those in need. Muslims gather for communal prayers, exchange gifts, and share meals with family and friends. It is a time of joy and gratitude, as well as a time to reflect on the lessons learned during Ramadan and carry them forward into the rest of the year.

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