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's Crypto Adoption Is Surging an Examining the Factors Fueling the Trend

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UAE

The United Arab Emirates (UAE), where 72% of cryptocurrency users are actively investing in Bitcoin, has emerged as a major bastion for the global boom in cryptocurrency adoption. A number of things, such as supportive legislative environments, the acceptance of Bitcoin Exchange-Traded Funds (ETFs), and the general optimism around the cryptocurrency market, are responsible for this trend.

The Middle East has seen a substantial rise in the number of users on centralized cryptocurrency exchanges worldwide, with over 500,000 daily active users on average in February 2024. This indicates a significant increase in interest in cryptocurrencies in the area compared to prior years. The adoption of spot Bitcoin ETFs and the UAE's progressive attitude toward cryptocurrencies have been major forces behind this development. 

As reported by The World Reviews website, Abu Dhabi’s ascent as a crypto hub signifies a paradigm shift in the industry’s global landscape. Its strategic positioning, regulatory stability, and government support present a compelling case for crypto companies seeking resilience in the face of intensified regulatory challenges.

Seeing how the UAE is becoming a leader in the region's cryptocurrency scene because to its acceptance of blockchain technology and cryptocurrencies. The UAE's innovative and proactive regulatory framework is expected to encourage more cryptocurrency investment and usage in the nation as the industry develops.

Are we seeing a new  Future in Crypto?  


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