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 supports the efforts of the African Union to resolve disputes between Ethiopia and Egypt over GERD

 

UAE

The United Arab Emirates (UAE) renews its commitment to support the efforts of the African Union (AU), a continental union consisting of 55 member states located on the continent of Africa, to resolve the dispute between Ethiopia and Egypt regarding the exploitation of the Nile River in northeastern Africa.

The Permanent Mission of the United Arab Emirates to the United Nations said in a statement that the UAE believes that a successful conclusion of negotiations on the GERD (Grand Ethiopian Renaissance Dam Agreement) is within reach.

The Permanent Mission of the UAE to the UN further recognised the great opportunity that GERD presents to enhance and accelerate regional integration while bolstering cooperation and sustainable development in the region and beyond in the spirit of “African solutions to African challenges”.

The UAE also recognised the role of the African Union (AU) in renewing the GERD. The Permanent Mission of the UAE to the UN welcomed the commitment of the three countries: Egypt, Ethiopia and Sudan, to the AU-led negotiations and encouraged them to continue negotiating in good faith.

In a statement, UAE Mission to the UN, said, “Taking into account the progress already achieved through different initiatives undertaken in support of the AU-led process, the UAE believes the 2015 Declaration of Principles on the GERD remains a foundational reference point.”

Grand Ethiopian Renaissance Dam Agreement

Egypt, Ethiopia and Sudan have held several meetings to reach a legal solution under the patronage of the AU. Sudan, Egypt and Ethiopia have been negotiating under the AU over legal issues related to the filling and operation of the GERD on the Nile River. Earlier, Egypt and Sudan asserted their keenness to reach a binding legal agreement on this matter.

Ethiopia started building the GERD in 2011. Ethiopia wanted to build the dam on the Nile River’s main tributary to relieve Ethiopia's acute energy shortage. Ethiopia implemented the second phase of filling the dam last year without the consent of the two countries. However, Sudan deems the Niledam an "existential threat".

Egypt and Sudan fear that the dam might affect their water supplies, especially in times of drought. Egypt gets 97 per cent of its water from the Nile River. Egypt and Sudan are united in opposition to Ethiopia’s mega-dam on the Nile River.

Recently, Egypt protested to the United Nations Security Council (UNSC) against Ethiopia's plans to fill the reservoir of the Nile dam for a third year without agreement from Egypt and Sudan. 

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