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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Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and Managing Director and Group CEO of ADNOC, as the Chairman of its Board of Directors.

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The election of Dr. Sultan Al Jaber as Chairman significantly strengthens Presight’s board. With each board member bringing unique experiences, we are poised to accelerate Presight’s growth both locally and globally. As AI revolutionises various sectors, Presight will lead in driving responsible AI adoption, creating a positive impact. This aligns with the UAE UAE’s vision to lead in AI, fostering economic growth, productivity, and prosperity. 

“It is a privilege to welcome Dr. Al Jaber - a visionary, globally-recognised business leader, and a well-known advocate of advanced technologies - to the Board of Presight. I also extend my heartfelt gratitude to Mansoor Al Mansoori for his guidance, leadership and steadfast support that saw Presight through its IPO and its phenomenal growth to date. Having Dr. Al Jaber as Chairman and Mansoor Al Mansoori as Vice-Chairman of Presight gives the company a huge impetus for growth and positions us ideally to ride the surge in demand for AI and big data analytics to further success for Presight 


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