Non-oil private sector records strong growth in September — Emirates NBD UAE PMI

Updated 09 October 2017

Non-oil private sector records strong growth in September — Emirates NBD UAE PMI

Despite softening slightly in September, growth in the UAE’s non-oil private sector remained sharp and marked the strongest quarter recorded for two years, according to a new survey. The latest improvement in business conditions was driven by above-average expansions in both output and new orders. The UAE PMI survey reported that new business from abroad slipped back to contraction, indicating that the recovery was driven by domestic demand. On the price front, output charges fell, whilst input price inflation softened to a four-month low.
The survey, sponsored by Emirates NBD and produced by IHS Markit, contains original data collected from a monthly survey of business conditions in the UAE non-oil private sector.
Khatija Haque, head of MENA research at Emirates NBD, said: “Although the headline purchasing managers index eased slightly in September, the average reading for Q3 was the highest in two years, underpinned by strong growth in output and new work. The survey suggests that economic growth accelerated last quarter, and that domestic demand remains solid, despite relatively modest jobs growth.”
The headline seasonally adjusted Emirates NBD UAE Purchasing Managers’ Index (PMI) — a composite indicator designed to give an accurate overview of operating conditions in the non-oil private sector economy — eased from the 30-month high of 57.3 recorded in the preceding survey to 55.1 in September. Growth remained strong overall and steeper than the survey’s historical average. The average in Q3 2017 was 56.1, the strongest since Q3 2015 (56.3).
Firms in the non-oil private sector reported a sharp increase in output in September. The rate of growth was steep overall and above the series’ long-run average. The pace of expansion slowed from the four-month high registered in August.
Behind the latest rise in output requirements was strong underlying demand for goods and services produced in the UAE’s non-oil private sector, according to anecdotal evidence. A sharp expansion in incoming new work was signalled in September. However, survey data suggested that greater inflows of new work came from the domestic market instead of foreign sources, as indicated by the contraction in new export orders.
Employment levels continued to rise for the 17th month running in September. Companies in the UAE’s non-oil private sector reduced their output charges, according to the most recent survey data.

BMW Group Middle East names new managing director

Dr. Hamid Haqparwar
Updated 19 September 2018

BMW Group Middle East names new managing director

Dr. Hamid Haqparwar, 38, currently director of sales and marketing at BMW Group Middle East, has been appointed as the managing director of BMW Group Middle East with effect from Oct. 1. 

Dr. Haqparwar is an automotive professional with and extensive international background. He started his career at BMW Group headquarters and has held different senior management roles within BMW since then. Before joining BMW Group Middle East, Dr. Haqparwar was employed as the director sales and director of sales channel development for BMW India. The Middle East is not new to him since he already was a sales area manager and the head of product management in the region from 2008 to 2012. In his new role as managing director, he will be responsible for driving the BMW Group business and sales forward across 13 markets in the region. 

Dr. Haqparwar completed his Ph.D at the University of St. Gallen, Switzerland, holds an MBA degree from Western Carolina University in the US and graduated in business administration from the University of Mannheim, Germany. 

He replaces Johannes Seibert, 57, who left BMW AG on July 31.

Hendrik von Kuenheim, senior vice president, Africa, Russia, importer markets Eastern Europe and Middle East, said: “We are delighted to welcome Dr. Hamid Haqparwar in his new role as managing director of BMW Group Middle East. We have every confidence that his in-depth knowledge of brand, product and dealer development as well as his sales and marketing expertise will help to further strengthen the BMW and MINI brand in the region. With his long-standing experience and dedication to the market we are convinced that he will provide valuable guidance and contribution to the continued business success of BMW Group in the region. 

“I would also like to take this opportunity to thank Johannes Seibert for the many years of personal commitment at BMW Group Middle East. Under his leadership we have seen record sales in a very challenging environment.”

With its four brands BMW, MINI, Rolls-Royce and BMW Motorrad, the BMW Group is a leading premium manufacturer of automobiles and motorcycles and also provides premium financial and mobility services. The BMW Group production network comprises 30 production and assembly facilities in 14 countries; the company has a global sales network in more than 140 countries.