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 Uzbekistan sign investment memorandum to boost digital infrastructure development

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UAE

Earlier  this  may  UAE  and  Uzbekistan  explore opportunities for new data centres, which would provide cloud, AI solutions to private and government entities.  

The memorandum was signed by Mohamed Hassan Alsuwaidi, Minister of Investment, and Sherzod Shermatov, Minister of Digital Technologies of the Republic of Uzbekistan. 

Seeks to attract major cloud service providers to the country, assess the potential for super-computer projects, explore the development of language models specific to Uzbekistan, and establish a local talent ecosystem for AI and computing, apart from facilitating strong and effective collaboration between the public and private sectors in the two nations. 

Infact  investment opportunities for UAE-based companies to tap into Uzbekistan's vast potential, leveraging our country's strategic location and favorable business environment. as  both  countries provide  new avenues for growth, innovation, and economic development, positioning Uzbekistan as a key player in the global digital landscape. . 

This collaboration will yield substantial returns, driving progress and prosperity for both nations 


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