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 seeks investment in Kuwait

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UAE

The positive nature of  UAE and Kuwait relations, reflects the shared determination of both leaderships to catalyze growth and support each other’s economic development. 

As both counties enjoy a long-term economic partnership and this visit is an important opportunity to both restate its value and seek to increase private-sector collaboration in priority sectors. The UAE Companies Investment Meet provides a key platform to build the networks, and identify the opportunities, that can deliver mutually beneficial results in the months and years to come   

 UAE is the 3rd largest investor in Kuwait’s economy accounting for 6% of total investments in 2022 at a value of more than AED3.3 billion. In turn, Kuwait is the tenth largest investor in the UAE with a total investment value of AED13.2 billion by the close of 2021.

 His Excellency Abdullah Al Jawaan welcomed the UAE delegation, and said in a statement that the growth of bilateral trade between the two countries refl ected the strength and diversity of the economic relations between the two nations, which continues to evolve. The UAE Companies Investment meet, Al Jawaan noted, will boost bilateral trade ties, facilitate successful investment agreements, and enhance the exchange of ideas and expertise.

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