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,...

Let's call it as the new era of bilateral relations between UAE and Chile

The President of Chile, Gabriel Boric have officialy arrived to UAE, marking it as the first visit in historic of their diplomatic relations since 1978. The President was officially received at Qasr Al Watan, Abudhabi by UAE President Sheikh Mohammed Bin Zayed Al Nahyan. An official welcome ceremony was held for the Chilean president upon his arrival. 

The Chillean delegation accompanied President Gabriel Boric including several Ministers. All those officials have participated in the meetings with UAE President and UAE delegations. Both countries discussed mutual interest and potential collaborations. The visit have involved high-level discussions in key areas they have focused is economic partnerships, technology, innovations, trade, tourism etc.

The major announcement concerning the Comprehensive Economic Partnership Agreement (CEPA) can be expected by their relations. So far the CEPA have covered discussing food security, technology, investement and space. This creates an greater impact on their cooperation and job opportunities in the following sectors which predominantly increases their economic growth.

To be noted,Chile have opened a Trade office in Dubai in 2006 and the UAE have established its embassy in 2011.They also have trade exchange of history that Chile exports sodium, food products to UAE, while UAE have exported Electronic products to Chile. Which showcases as their economic relations have seen various outcomes. This present meeting underscores their intent to a step forward in strengthening their bilateral ties that pursuits a joint efforts to tackle global challenges.

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