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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A Free Trade Agreement between New Zealand and the United Arab Emirates.

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UAE

On Monday Formal negotiations have been announced to create a Free Trade Agreement between New Zealand and the United Arab Emirates.   

The agreement will be officially named the Comprehensive Economic Partnership Agreement (CEPA). The details of deal are still to be worked out in negotiations, but are aimed to give New Zealand better access to almost 10 million people in one of the richest countries in the world, made up of seven emirates dominated by Dubai and Abu Dhabi. 

But this policy has eased more recently, since NZ exports have poured in anyway, reaching $1.9bn in the most recent figures. At the same time, GCC countries sold NZ $2.9bn worth of goods, mainly petroleum products. 


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