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 and Turkey discuss strengthening bilateral relations; regional de-escalation efforts

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UAE

UAE  and  Turkey diplomats discussed the dangerous developments in the Middle East region and the efforts of the international community to reach a sustainable ceasefire and strengthen the humanitarian response to the needs of civilians in the Gaza Strip. 

emphasised the critical importance of close collaboration to ensure uninterrupted and ample humanitarian assistance for civilians in the Gaza Strip, while redoubling efforts to mitigate the suffering of the brotherly people of Palestine.

“This significant development in non-oil trade exchange is the result of the Comprehensive Economic Partnership Agreement signed by the two countries on March 3, 2023, which entered into force on September 1st of the same year,” Sheikh Abdullah said, stressing on the importance of continuing joint work to further strengthen relations of cooperation and partnership in all fields.

The  the two countries enjoy strong and growing relations and are looking forward to establishing advanced and prosperous paths of cooperation that support their efforts to achieve comprehensive and sustainable economic growth.

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