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UAE business growth slows in August

A survey conducted by HSBC Bank and Markit Economics has shown that the UAE's non-oil private sector rose at the slowest pace in 15 months in August, Reuters has reported. The survey of 400 private sector firms has revealed that the HSBC UAE Purchasing Managers' Index (PMI), which measures the performance of the Gulf Arab Country's manufacturing and services sectors, plunged to 50.9 points in August, after easing for three consecutive months in a row to 53.3 points in July.