Dubai’s non-oil private sector economy grew in February as the emirate's rapid Covid-19 vaccine campaign fuelled optimism and boosted employment and output.
The seasonally adjusted IHS Markit Dubai Purchasing Managers' Index rose from 50.6 in January to 50.9 in February as operating conditions improved for the third consecutive month.
A reading above 50 indicates economic expansion while one below that points to a contraction.
There was output growth for key sectors such as construction, wholesale and retail, according to the survey.
However, travel and tourism bucked the trend with a further decline in activity as a result of coronavirus-induced restrictions.
IHS Markit economist David Owen said companies' hopes for growth in business activity over the coming 12 months received a boost from the successful distribution of Covid-19 vaccines in the emirate and around the UAE.
“However, the near-term outlook could be choppy as cases remain high and other parts of the world continue to restrict activity and travel,” he said.
The third successive monthly improvement in the business conditions was helped by the UAE's continued roll out of vaccines to control the spread of the pandemic.
More than 312 million vaccines have been administered in 116 countries at a daily rate of 8.08 million doses, according to Bloomberg's vaccine tracker.
The UAE was in third place after the Seychelles and Israel on Monday, with a daily rate of 58.5 doses administered for every 100 people.
Dubai, the commercial and the tourism hub of the Middle East, unveiled four stimulus packages worth Dh6.8 billion ($1.85bn) to soften the economic blow of the pandemic and support businesses and people.
The emirate's economy is forecast to expand 4 per cent in 2021 driven by its effective response to Covid-19, according to government projections released in December.
The latest PMI survey showed that sales in the non-oil sector fell for the first time since May as the government introduced new restrictions to control the pandemic.
However, the trend was softer compared with when the health crisis began last year.
Despite weaker sales, Dubai companies remain optimistic that the disruption will be temporary and expect the emirate's vaccine campaign to drive a sharp rebound in output later in the year.
Employment numbers picked up for the second consecutive month as the emirate’s economy continued to recover from the pandemic.
Dubai residents receive vaccine – in pictures
If you go:
The flights: Etihad, Emirates, British Airways and Virgin all fly from the UAE to London from Dh2,700 return, including taxes
The tours: The Tour for Muggles usually runs several times a day, lasts about two-and-a-half hours and costs £14 (Dh67)
Harry Potter and the Cursed Child is on now at the Palace Theatre. Tickets need booking significantly in advance
Entrance to the Harry Potter exhibition at the House of MinaLima is free
The hotel: The grand, 1909-built Strand Palace Hotel is in a handy location near the Theatre District and several of the key Harry Potter filming and inspiration sites. The family rooms are spacious, with sofa beds that can accommodate children, and wooden shutters that keep out the light at night. Rooms cost from £170 (Dh808).
Global state-owned investor ranking by size
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Canada
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The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
The Details
Article 15
Produced by: Carnival Cinemas, Zee Studios
Directed by: Anubhav Sinha
Starring: Ayushmann Khurrana, Kumud Mishra, Manoj Pahwa, Sayani Gupta, Zeeshan Ayyub
Our rating: 4/5
What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
UK-EU trade at a glance
EU fishing vessels guaranteed access to UK waters for 12 years
Co-operation on security initiatives and procurement of defence products
Youth experience scheme to work, study or volunteer in UK and EU countries
Smoother border management with use of e-gates
Cutting red tape on import and export of food
Dust and sand storms compared
Sand storm
- Particle size: Larger, heavier sand grains
- Visibility: Often dramatic with thick "walls" of sand
- Duration: Short-lived, typically localised
- Travel distance: Limited
- Source: Open desert areas with strong winds
Dust storm
- Particle size: Much finer, lightweight particles
- Visibility: Hazy skies but less intense
- Duration: Can linger for days
- Travel distance: Long-range, up to thousands of kilometres
- Source: Can be carried from distant regions
COMPANY%20PROFILE%20
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20Haltia.ai%0D%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202023%0D%3Cbr%3E%3Cstrong%3ECo-founders%3A%3C%2Fstrong%3E%20Arto%20Bendiken%20and%20Talal%20Thabet%0D%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%2C%20UAE%0D%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20AI%0D%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%2041%0D%3Cbr%3E%3Cstrong%3EFunding%3A%3C%2Fstrong%3E%20About%20%241.7%20million%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Self%2C%20family%20and%20friends%26nbsp%3B%3C%2Fp%3E%0A
Director: Shady Ali
Cast: Boumi Fouad , Mohamed Tharout and Hisham Ismael
Rating: 3/5
The specs
Engine: Four electric motors, one at each wheel
Power: 579hp
Torque: 859Nm
Transmission: Single-speed automatic
Price: From Dh825,900
On sale: Now
India Test squad
Virat Kohli (c), Mayank Agarwal, Rohit Sharma, Cheteshwar Pujara, Ajinkya Rahane, Hanuma Vihari, Rishabh Pant (wk), Wriddhiman Saha (wk), Ravichandran Ashwin, Ravindra Jadeja, Kuldeep Yadav, Mohammed Shami, Umesh Yadav, Ishant Sharma, Shubman Gill
Scoreline
Man Utd 2 Pogba 27', Martial 49'
Everton 1 Sigurdsson 77'
