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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A significant milestone in the region’s AI sector between UAE and US

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UAE

A leading UAE-based artificial intelligence (AI) technology holding company, marks a significant milestone in the region’s AI sector. This investment is poised to enhance the UAE’s position as a global AI hub, fueling innovation and economic growth. The collaboration between Microsoft and G42 will not only bring the latest Microsoft AI technologies to the UAE but also extend digital infrastructure and services  

The main aim of this partnership is making sure that AI technology is implemented in accordance with the highest international standards of security and safety. This pledge goes along with the goal of making UAE the number one country when it comes to AI regulation and ethics. This set up is meant to help G42 offer high-level AI solutions to multinational governmental clients and big corporates powered by Microsoft Azure AI applications and services and ensure that the use of AI and digital infrastructure is open and available to all people.

Not only and dependable, but also ensure the secure, trusted, and accountable development and deployment of AI, based on the first-of-its-kind agreement between Microsoft and G42. Additionally, a $1 billion development fund has been set aside by the investment for developers to help them build a competent and diverse AI workforce. An expanded regional AI ecosystem is the other larger goal of this investment in talent development.

Microsoft is investing in G42 which will have a transformative effect on AI in the UAE. This will significantly contribute to driving innovation, fostering talent development, and promoting responsible AI adoption. By collaborating like this one UAE positions itself as a global leader in AI thus shaping its future both within and beyond its boundaries.


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