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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Another Milestone of achieving peace as UAE helps mediate prisoner exchange between Russia and Ukraine

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According to the Ministry of Foreign Affairs, the UAEUAE has successfully brokered a new exchange of 150 prisoners of war between Russia and Ukraine, revealing another peace milestone.

Ukrainian President Volodymyr ZelenskiyUkrainian President Volodymyr Zelenskiy said 75 Ukrainian prisoners had been returned from Russia. They included four civilians while the rest were members of the military.

With 50 prisoners have been freed is the outcome of the UAE leveraging its distinct relations between both sides to reach this agreement. 

The Ministry expressed its appreciation to the Russian Federation and the Republic of Ukraine governments for their cooperation and response to UAE mediation to make the exchange process a success. The Ministry also affirmed the UAE’s commitment to continuing efforts aimed at finding a peaceful solution to the conflict in Ukraine, stressing the importance of resorting to diplomacy, dialogue, de-escalation, and mitigating the humanitarian repercussions resulting from the crisis.

with  UAE continuing efforts to find a peaceful solution to the conflict in Ukraine, noting the importance of resorting to diplomacy, dialogue, reducing escalation, and mitigating the humanitarian repercussions resulting from the crisis. 

 

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