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,...
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The UAE And France Signs Energy Cooperation Deal

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UAE And France

 The United Arab Emirates (UAE) and France have signed an energy cooperation deal, including the sectors of hydrogen, renewable and nuclear energy.

The strategic agreement to cooperate in the energy sector is aimed to identify joint investment projects in France and the UAE, according to the French government.

The government of France said in a statement, “This agreement will pave the way for a stable long-term framework for cooperation, opening the way for new industrial contracts.”

The deal coincides with UAE President Sheikh Mohammed bin Zayed al-Nahyan's visit to Paris between July 17-19, his first overseas state visit since taking over from his half-brother in May. French President Emmanuel Macron awarded Sheikh Mohamed the Grand Cross of the Legion of Honour. Sheikh Mohamed awarded President Macron the Order of Zayed, the UAE's highest civilian honour.

Sheikh Mohamed also met Macron’s wife Brigitte at the Elysee Palace, the French president's residence. During the lunch at his residence, Sheikh Mohamed "discussed the important role that France has undertaken in the Middle East.” He also "reiterated the common interest that the UAE and France share in confronting climate change.”

The UAE-French relations

Over the last few years, the UAE and France signed multiple agreements and memoranda of understanding (MoU) in various fields, including economic, cultural, military, energy, education and environmental fields.

In the field of education, the French High Schools was accredited in the UAE, which constituted the sixth largest French school network in the world in terms of enrolment of students.

In 2020, a new roadmap for strategic partnership between both countries was adopted for the next ten years

Sheikh Mohamed and Macron last met in May, when the French president visited Abu Dhabi to pay tribute to President Sheikh Khalifa after his death. Sheikh Mohamed visited France last year while serving as Crown Prince of Abu Dhabi.

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