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,...

UAE’s GAAC Corporation to run Kabul Airport

 

Kabul Airport

The Taliban and UAE reached an agreement for the UAE to run airports in Afghanistan, according to Ghulam Jailani Wafa, the deputy minister of transportation and civil aviation. Taliban deputy minister of transportation signed a contract with a GAAC business representative on May 27 in the presence of first deputy prime minister Mullah Abdul Ghani Baradar. The United Arab Emirates-based GAAC is a global business that offers aviation services.

 Up to August 15, 2021, when the Taliban overthrew the Western-backed government and gained control of Afghanistan, the GAAC was in charge of ground operations in Kabul. The Taliban's almost 20-year war came to an end later that month as the last American and NATO soldiers left Afghanistan.

 According to media sources, Taliban representatives claimed that they personally renegotiated the prior agreement with GAAC, making some revisions and that the arrangement was only with the company and not with the UAE government.

 After months of disruption, the renewed agreement will likely restore business, trade, commerce, and people-to-people contact in Afghanistan, according to GAAC's managing director Razeq Aslam Mohammad Abdul Razeq. According to VOA, Razeq stated that they hoped Afghanistan will contact them again so they could carry on with the activities in Afghan airports.

 A GAAC spokesperson stated in an email that GAAC would offer specialized services to "safeguard civil aviation from unlawful intervention" and was equipped to handle air traffic management among other services.

 The official stated that all personnel providing services at Afghan airports were GAAC workers and that GAAC had assisted in restoring operations at Kabul Airport in September.

 The decision to hold talks with the Afghan government and finalize new agreements for our services at Afghan airports, he said, was made by GAAC.

 The terms of the arrangement were not discussed by the Taliban. An inquiry for comment was not immediately answered by the Emirati Foreign Ministry. On a single page of its website, GAAC Solutions presents itself as an Abu Dhabi-based joint venture with the company G42 as one of its partners. G42 officials have declined to reveal the company's ownership, but many believe it has ties to Abu Dhabi's ruling family.

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