Business conditions in the United Arab Emirates improved at a slightly weaker rate last month as coronavirus-linked measures and flight cancellations slowed gains in the Middle East’s business and travel hub. Non-oil business activity in the Persian Gulf nation inched down to the lowest in four months, IHS Markit’s Purchasing Managers’ Index showed on Monday. “Business conditions continued to improve at only a gradual pace in June, adding evidence to a mixed initial recovery from Covid-19 in the UAE non-oil sector," said David Owen, economist at IHS Markit. In Saudi Arabia, which has banned its citizens from traveling to the UAE without receiving prior approval, business conditions continued an upward trend. New business growth in the kingdom was at the highest level in five months.

Source: Mint July 05, 2021 05:48 UTC