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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Egypt's MNT-Halan Expands to UAE with Innovative Salary Financing Solution

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 Egyptian fintech leader MNT-Halan has officially entered the United Arab Emirates (UAE) market with the launch of Halan Advance, a cutting-edge salary financing solution. This marks a significant milestone in the company's regional growth strategy and underscores its commitment to promoting financial inclusion across the Gulf region.



Halan Advance: Redefining Salary Financing

Halan Advance is designed to provide employees with immediate access to a portion of their earned salaries ahead of payday. This solution aims to alleviate financial stress, improve liquidity, and empower users with greater control over their finances. By offering quick and transparent access to funds, Halan Advance addresses a growing demand for innovative financial services in the UAE.

MNT-Halan’s Vision for Financial Inclusion

The UAE launch is part of MNT-Halan’s broader mission to enhance financial inclusion and democratize access to financial services in underserved and emerging markets. The company, which has successfully transformed the fintech landscape in Egypt, now seeks to replicate its success by delivering user-centric solutions tailored to the unique needs of Gulf markets.

Why UAE for Expansion?

The UAE’s advanced financial infrastructure, robust regulatory framework, and diverse, tech-savvy population make it an ideal hub for fintech innovation. The introduction of Halan Advance aligns with the UAE's vision to foster a cashless economy and boost digital financial services, in line with initiatives like the Dubai Economic Agenda (D33).

Key Benefits of Halan Advance

  1. Financial Flexibility: Employees can access earned wages before payday, addressing immediate financial needs without resorting to high-interest loans.
  2. Convenience: A seamless digital platform ensures quick approvals and disbursements.
  3. Transparency: No hidden fees or complex terms, making it a trusted financial tool for users.

MNT-Halan’s Strategic Goals

The launch in the UAE reflects MNT-Halan's commitment to:

  • Regional Expansion: Establishing a footprint in Gulf Cooperation Council (GCC) countries to unlock new growth opportunities.
  • Technology-Driven Solutions: Leveraging advanced fintech solutions to provide accessible financial services.
  • Cross-Border Innovation: Driving collaboration between Egypt and the UAE in the financial technology sector.

A Proven Track Record

MNT-Halan has emerged as a trailblazer in the Egyptian fintech ecosystem, offering services like digital lending, e-wallets, and payments. Its expansion into the UAE highlights the scalability of its solutions and its ability to adapt to diverse markets.

Conclusion

MNT-Halan’s entry into the UAE with Halan Advance is a promising development in the region's fintech landscape. By offering innovative salary financing solutions, the company not only enhances financial accessibility but also contributes to the UAE's efforts to foster a thriving digital economy. As MNT-Halan continues to expand its presence, it is poised to play a pivotal role in driving financial inclusion and innovation across the Gulf.

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