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,...

UAE and Uzbekistan Forge Path for Stronger Bilateral Relations

 In a significant stride toward enhancing international collaboration, H.H. Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs of the United Arab Emirates, engaged in a phone conversation with Bakhtiyor Saidov, the Foreign Minister of Uzbekistan. The dialogue underscored the enduring friendship between the two nations and their shared ambition to foster closer ties across diverse sectors.


Strengthening UAE-Uzbekistan Relations

The conversation reflected the UAE's commitment to deepening its relationship with Uzbekistan, a partnership founded on mutual respect, common goals, and a shared vision for the future. Both diplomats highlighted the importance of exploring avenues for cooperation that would benefit their countries and citizens, focusing particularly on economic, trade, and investment opportunities.

Strategic Cooperation for Mutual Growth

During the discussion, H.H. Sheikh Abdullah bin Zayed and Bakhtiyor Saidov examined current areas of bilateral collaboration, emphasizing the potential for growth in economic and trade partnerships. Investment was also a key focus, as both nations aim to capitalize on their strategic geographical positions and dynamic economies to attract foreign direct investments and foster regional development.

Uzbekistan’s burgeoning economy offers vast opportunities for UAE businesses, while the UAE’s position as a global trade and investment hub provides Uzbek entities with access to international markets. This mutually beneficial relationship aligns with the strategic priorities of both nations.

Expanding Horizons in Multiple Sectors

The conversation also extended to other critical sectors, including technology, renewable energy, and infrastructure development. The UAE’s advanced expertise in clean energy and digital transformation aligns with Uzbekistan’s aspirations for sustainable growth, creating synergies that promise long-term benefits for both nations.

By exploring innovative solutions and fostering knowledge exchange, the two countries reaffirmed their commitment to building a future of shared prosperity.

A Foundation for Global Impact

The phone call further emphasized the UAE and Uzbekistan's commitment to global peace, security, and stability. By strengthening their bilateral ties, both nations contribute to a more interconnected and cooperative international community.

This engagement reflects the UAE’s broader foreign policy objectives of fostering partnerships based on mutual trust and shared values. Uzbekistan, as a key player in Central Asia, complements the UAE’s global outreach and efforts to diversify partnerships across regions.

Looking Ahead

The dialogue between H.H. Sheikh Abdullah bin Zayed and Bakhtiyor Saidov marks an important step in UAE-Uzbekistan relations, paving the way for enhanced cooperation in the coming years. As both countries continue to deepen their ties, their partnership serves as a model for constructive international engagement, emphasizing the power of collaboration to drive mutual growth and global progress.

This renewed commitment to strengthening ties promises a brighter future for both nations, one built on shared aspirations and strategic partnerships.




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