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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Oman and UAE have signed several agreements and MoU in Abu Dhabi

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UAE

As part of the state visit by His Majesty the Sultan of Oman to the UAE, President His Highness Sheikh Mohamed bin Zayed Al Nahyan and His Majesty Sultan Haitham bin Tariq, the Sultan of Oman, witnessed the announcement of several memoranda of understanding and agreements aimed at strengthening relations between the two countries to achieve further growth and prosperity.

The two nations have established agreements and memoranda that address a wide range of topics, including railways, technology, education, and sustainability as well as investment and renewable energy.  

In order to strengthen economic connections and encourage reciprocal investment opportunities, one of the major agreements focuses on investment cooperation. An additional noteworthy memorandum pertains to renewable energy, emphasizing the dedication of both nations to environmentally conscious development and preservation.  

These technological and educational agreements show how committed both nations are to developing their technological capacities and advancing educational exchange initiatives.  

Over the years, there has been a great deal of trust in the deep partnership between the UAE and Oman.  


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