Business conditions in the UAE’s non-oil private sector recovered momentum in March after dipping in February, with an increase in output, orders and job creation boosting confidence in companies, the latest report from Emirates NBD said.
The Dubai lender’s UAE Purchasing Managers’ Index – a composite indicator designed to give an overview of operating conditions in the non-oil private sector economy – rose to 55.7 last month from a 28-month low of 53.4 in February.
A reading above 50 indicates expansion in the economy and a reading below signals contraction. The latest figure signalled a “solid” monthly improvement in the health of the non-oil private sector, led by growth in output and new orders, according to Emirates NBD.
“After a surprisingly weak February reading, it was encouraging to see the headline PMI recover to a 55-handle in March,” said Khatija Haque, head of Mena research at Emirates NBD.
“The acceleration in output and new orders suggests demand has improved, although this was likely supported by further declines in selling prices in March.”
The overall environment remains competitive for businesses, she added. “Growth in inventories, together with a rise in future output suggests businesses are more optimistic about their prospects than they have been in recent months.”
Higher customer demand and successful marketing led to a rise in business activity in March, and employment was also more positive than in previous months, with staffing levels stabilising following a drop in February, according to the tracker.
However, fewer than 3 per cent of companies surveyed for the latest report said they hired new staff in March.
New orders increased in line with the series average growth rate, although discounts may have been offered to secure sales in a competitive environment, Emirates NBD said. The rate of expansion in new export orders quickened to recover from February’s 11-month low, driven by new orders from the GCC and US.
Such signs of stronger market demand boosted business confidence, recovering from in March February's 11-month low and was the strongest in the survey's history, surpassing the previous record seen in October 2018.
However, output prices decreased for the sixth successive month and supply chains came under pressure, with companies’ purchase costs rising only slightly. Backlogs of work increased at the slowest pace for a year, the Emirates NBD report added.
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Killing of Qassem Suleimani
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EMERGENCY PHONE NUMBERS
Estijaba – 8001717 – number to call to request coronavirus testing
Ministry of Health and Prevention – 80011111
Dubai Health Authority – 800342 – The number to book a free video or voice consultation with a doctor or connect to a local health centre
Emirates airline – 600555555
Etihad Airways – 600555666
Ambulance – 998
Knowledge and Human Development Authority – 8005432 ext. 4 for Covid-19 queries
Global state-owned investor ranking by size
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Killing of Qassem Suleimani
The specs: 2018 Mercedes-Benz GLA
Price, base / as tested Dh150,900 / Dh173,600
Engine 2.0L inline four-cylinder
Transmission Seven-speed automatic
Power 211hp @ 5,500rpm
Torque 350Nm @ 1,200rpm
Fuel economy, combined 6.4L / 100km
MEFCC information
Tickets range from Dh110 for an advance single-day pass to Dh300 for a weekend pass at the door. VIP tickets have sold out. Visit www.mefcc.com to purchase tickets in advance.
Global Fungi Facts
• Scientists estimate there could be as many as 3 million fungal species globally
• Only about 160,000 have been officially described leaving around 90% undiscovered
• Fungi account for roughly 90% of Earth's unknown biodiversity
• Forest fungi help tackle climate change, absorbing up to 36% of global fossil fuel emissions annually and storing around 5 billion tonnes of carbon in the planet's topsoil
READ MORE ABOUT CORONAVIRUS
Top 5 concerns globally:
1. Unemployment
2. Spread of infectious diseases
3. Fiscal crises
4. Cyber attacks
5. Profound social instability
Top 5 concerns in the Mena region
1. Energy price shock
2. Fiscal crises
3. Spread of infectious diseases
4. Unmanageable inflation
5. Cyber attacks
Source: World Economic Foundation
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2025 Fifa Club World Cup groups
Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.
Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
Group D: Flamengo, ES Tunis, Chelsea, Leon.
Group E: River Plate, Urawa, Monterrey, Inter Milan.
Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.
Group G: Manchester City, Wydad, Al Ain, Juventus.
Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
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- DLD registration fee can be paid through banks or credit cards at zero interest rates
Earth under attack: Cosmic impacts throughout history
- 4.5 billion years ago: Mars-sized object smashes into the newly-formed Earth, creating debris that coalesces to form the Moon
- 66 million years ago: 10km-wide asteroid crashes into the Gulf of Mexico, wiping out over 70 per cent of living species – including the dinosaurs.
- 50,000 years ago: 50m-wide iron meteor crashes in Arizona with the violence of 10 megatonne hydrogen bomb, creating the famous 1.2km-wide Barringer Crater
- 1490: Meteor storm over Shansi Province, north-east China when large stones “fell like rain”, reportedly leading to thousands of deaths.
- 1908: 100-metre meteor from the Taurid Complex explodes near the Tunguska river in Siberia with the force of 1,000 Hiroshima-type bombs, devastating 2,000 square kilometres of forest.
- 1998: Comet Shoemaker-Levy 9 breaks apart and crashes into Jupiter in series of impacts that would have annihilated life on Earth.
-2013: 10,000-tonne meteor burns up over the southern Urals region of Russia, releasing a pressure blast and flash that left over 1600 people injured.
RESULT
Esperance de Tunis 1 Guadalajara 1
(Esperance won 6-5 on penalties)
Esperance: Belaili 38’
Guadalajara: Sandoval 5’