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 Ukraine deepen relationship

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Since the beginning of the war, the UAE has donated 14 airplanes with over a thousand tons of food and medical supplies as part of our efforts to help civilians. UAE  have also donated many generators to help survive the consequences of the attacks on energy infrastructure. 

Since  May Ukraine and the UAE conclude a partnership agreement and deepen trade relations.  

The Comprehensive Economic Partnership Agreement (CEPA) will remove or reduce tariffs on a range of good and products, remove trade barriers and ease market access to exporters from both sides, the statement said.

In addition, the CEPA will also "support Ukraine's recovery and the rebuilding of key industries and infrastructure, while also helping to strengthen supply chains to the (Middle East and North Africa) region for major exports such as grains, machinery and metals.   

The Comprehensive Economic Partnership Agreement (CEPA) between the UAE and Ukraine will remove or reduce tariffs on a range of goods and products, remove trade barriers and ease market access to exporters from both sides, the statement said. Negotiations for the CEPA began at the end of 2022. 

The CEPA will also "support Ukraine's recovery and the rebuilding of key industries and infrastructure, while also helping to strengthen supply chains to the (Middle East and North Africa) region for major exports such as grains, machinery and metals,” the statement added 

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