UAE Non-Oil Business Activity Surges to Nine-Month High in December

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 The United Arab Emirates' non-oil private sector recorded its fastest expansion in nine months in December 2024, buoyed by strong domestic demand and increased business activity, according to the latest S&P Global Purchasing Managers’ Index (PMI) report. PMI Highlights Robust Growth The seasonally adjusted UAE PMI climbed to 55.4 in December from 54.2 in November, signaling robust growth well above the 50.0 threshold that separates expansion from contraction. This marked the third consecutive monthly increase, underscoring sustained recovery in the non-oil sector. Key drivers of growth included a notable rise in new business activity. The new orders subindex rose sharply to 59.3 in December from 58.0 in the previous month, reflecting strong domestic demand. Challenges Amid the Growth While domestic demand flourished, export growth slowed, with the export orders subindex dropping to a seven-month low. Additionally, businesses faced mounting backlogs due to capacity constraints,...

Sheikh Mohamed bin Zayed meet Egypt President to discuss bilateral ties



 The crown prince of Abu Dhabi Sheikh Mohamed bin Zayed met with the Egyptian President Abdel Fattah El Sisi on Wednesday to discuss relations between the two countries and ways to develop cooperation.

 Sheikh Zayed, who is also the deputy supreme commander of the UAE armed forces, met El Sisi in the Egyptian capital, Cairo. They discussed ways to further enhance the ways to serve the interests of each other.

 The crown prince tweeted about the meeting saying that it was a pleasure meeting the Egyptian president. He added, “We discussed ways to strengthen our bilateral ties and develop areas of co-operation. We also considered issues of peace and stability in the region."

 The Egyptian leader expressed his satisfaction for the United Arab Emirates for getting admission to the EastMed Gas forum as an observer saying that with the move, there will be an added value to the organisation and will also serve the interest of its members.

 The International organisation is based out of Cairo and includes countries like Greece, Cyprus, Jordan, Italy, Israel and Palestine. The aim behind forming this organization is to develop the Eastern Mediterranean into a global energy centre with the coordination from all the other countries. This decision is taken after large amounts of natural gas was recently discovered in the region.

 The spokesperson of Egypt, Bassam Al Rady said that two leaders also developed in Libya, Syria, Yemen and Palestine and the disputed Nile dam, which is being constructed by Ethiopia.

 Ethiopia is constructing the largest dam in the region despite protest and anger of Egyptians and Sudanese who feel that the dam construction would make it difficult for their population to survive as it will disrupt the flow. Because of this very reason, the issue has come to global view and is often being discussed in International forums.

 The two involved nations have been trying to come in terms with Ethiopia and formally sign an agreement that states the usage and restrictions for the dam. The spokesperson said, “The discussion between the two leaders reflected their resolve to continue to work together in the face of threats that pose a danger to the security and stability of the region.”

 The UAE and Egypt have shared a cordial relation over the years. Even for the investments, UAE ranked number one globally for investments in Egypt which recently reached Dh 24.3bn from 990 Emirati companies who have invested in Egypt since 2018. 

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