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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S. Korea, UAE Discuss Enhancing Bilateral Economic, Biz Partnership

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UAE

Korea and UAEUAE Business Forum, held in Seoul during the state visit of UAE President Mohamed bin Zayed Al Nahyan, brought together around 200 government officials and business leaders, including South Korean Trade Minister Cheong In-kyo and UAE Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi, according to the Korea Chamber of Commerce and Industry (KCCI). 

In  which  cooperation between our countries has evolved from developing plants and oil fields into that of a special strategic partnership, exemplified by the Barakah Nuclear Power Plant,” Cheong said in his welcoming remarks. “We will provide support so that the seeds of cooperation can grow.   

With the Comprehensive Economic Partnership Agreement (CEPA) signed in October last year, Korea and the UAE are expanding cooperation beyond traditional areas, like energy and infrastructure, into new industries 

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