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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Strengthening Partnerships: UAE Foreign Minister’s Visit to India

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 The Deputy Prime Minister and Minister of Foreign Affairs of the United Arab Emirates (UAE), His Highness Sheikh Abdullah bin Zayed Al Nahyan, arrived in New Delhi to participate in the 4th Strategic Dialogue and the 15th India-UAE Joint Commission Meeting (JCM). This visit underscores the commitment of both nations to deepen their multifaceted Comprehensive Strategic Partnership.



Enhancing Bilateral Relations

Randhir Jaiswal, spokesperson for India’s Ministry of External Affairs, warmly welcomed Sheikh Abdullah bin Zayed Al Nahyan. Highlighting the significance of this visit, Jaiswal remarked, “His visit will further strengthen the multifaceted Comprehensive Strategic Partnership between our two nations.”

This meeting follows the 14th JCM, which took place in Abu Dhabi in 2022, co-chaired by India’s External Affairs Minister S. Jaishankar and Sheikh Abdullah bin Zayed Al Nahyan.

Key Discussions and Initiatives

  1. Economic Cooperation:

    • Both ministers reiterated their commitment to achieving the ambitious target of USD 100 billion in bilateral trade within the next five years.
    • Discussions explored the possibility of linking payment platforms, such as India’s Unified Payments Interface (UPI), with UAE systems to facilitate instant transactions and economic integration.

  2. Cultural and Environmental Collaboration:

    • A Memorandum of Understanding (MoU) was signed in 2022 to establish a Cultural Council Forum aimed at fostering cultural ties between the two nations.
    • Another MoU was signed between the Wildlife Institute of India and the International Fund for Houbara Conservation, focusing on the preservation of species such as the Great Indian Bustard and the Lesser Florican.

  3. Community and Human Resource Development:

    • The UAE Foreign Minister praised the contribution of the Indian community to the UAE’s progress.
    • External Affairs Minister Jaishankar expressed gratitude to the UAE leadership for their efforts in ensuring the welfare of the Indian diaspora.
    • Both sides committed to enhancing collaboration on consular issues, skills development, and manpower exchange in the near future.

A Shared Vision for the Future

The UAE and India have consistently worked towards strengthening their partnership across diverse sectors. From trade and cultural exchange to environmental conservation and human resource development, the two nations have demonstrated their commitment to fostering a mutually beneficial relationship.

As Sheikh Abdullah bin Zayed Al Nahyan's visit unfolds, it marks yet another milestone in the enduring friendship and collaboration between the UAE and India. This partnership not only holds promise for economic growth but also reinforces shared values and aspirations for a prosperous future.

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